Dar Es Salaam Textile Mills : Quarterly Accounts for the Period Ending March 31, 2023

Condensed Interim

Un-Audited Financial Statements

For the Nine months period ended

March 31, 2023

03 | Dar es Salaam Textile Mills Limited

CONTENTS

Company Information	04
Director's Review	05
Condensed Interim Balance Sheet	07
Condensed Interim Profit or Loss	08
Condensed Interim Statement of Comprehensive Income	09
Condensed Interim Cash Flow Statement	10
Condensed Interim Statement of Changes in Equity	11
Notes to and forming part of Condensed Interim	12
Financial Information

04 | Dar es Salaam Textile Mills Limited

COMPANY INFORMATION

Board of Directors	Mr. Faisal Mukhtar	Chairman & Director
	Ms. Abida Mukhtar	Chief Executive Officer
	Mrs. Nilofar Mukhtar
	Mrs. Mahwesh Faisal Mukhtar
	Mr. Muhammad Gul Nawaz
	Mr. Muhammad Yousaf
	Mr. Ejaz Hussain

Audit committee

HR & Remuneration Committee

Chief Financial Officer Company Secretary

Share Registrar

Auditors

Bankers

Registered Office

Mr. Muhammad Gul Nawaz	Chairman
Mrs. Mahwesh Faisal Mukhtar	Member
Mrs. Nilofar Mukhtar	Member
Mr. Muhammad Yousaf	Chairman
Mrs. Mahwesh Faisal Mukhtar	Member
Mrs. Nilofar Mukhtar	Member
Mr. Shahid Amin Chaudhry

M/s. Corplink (Pvt) Ltd.

Wing Arcade, 1-K, Commercial

Model Town, Lahore.

Tel: [phone]

M/s Rizwan & Co. Chartered Accountants

Meezan Bank Limited

JS Bank Limited

H.No. 37, Street No.14, Cavalry Ground, Lahore-Cantt.

Phones: [phone]-44

05 | Dar es Salaam Textile Mills Limited

DIRECTORS' REPORT

The Directors of Dar es Salaam Textile Mills Limited ("the Company") take pleasure in presenting the Nine Month Accounts for the period ended 31st March 2023.

Outlook

The Pakistani economy with its consistent political instability, double digits inflation and high interest rates do not create a conducive business environment for real estate investment. Therefore, the management is now evaluating various other options including but not limited to restructuring of the Company, arrangement with potential investor / buyer, engage in trading business of items. Currently; the management is of the view that the option of trading is a viable one and the management is working on the business plan/feasibility study to present to the board/shareholders before the close of the financial year.

The company loss for the nine-month ended 31st March 2023, PKR (6.556) million with EPS of PKR (0.08) per share vis-à-vis net profit of PKR 32.655 million and EPS of PKR 4.03 per share on 31st March 2022.

Your directors are continuing their efforts to prepare a best possible solution for the benefit of all the stakeholders. We would like to thank all our shareholders for their continued support.

On behalf of the Board of Directors

Abida Mukhtar

Chief Executive Officer