Dewan Cement : Financial Results for the Quarter Ended December 31,2022

February 25, 2023

FORM-3

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building, Stock Exchange Road

Karachi, Pakistan.

Subject: Financial Results for the Half Yearly, un-audited,condensed interim Financial

Statements of the Company for the period ended December 31, 2022

Dear Sir,

We have to inform you that the Board of Directors of our Company in their meeting held on Saturday, February 25, 2023 at 11:00 a.m. at Karachi, recommended the following:

(i) CASH DIVIDEND	Nil
AND/OR
(ii) BONUS SHARES	Nil
AND/OR
(iii) RIGHT SHARES	Nil
AND/OR
(iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION	Nil
AND/OR
(v) ANY OTHER PRICE-SENSITIVE INFORMATION	Nil

The Half Yearly, un-audited, condensed interim Financial Statements of the Company for the period ended December 31, 2022, are as follows:

Turnover - Net

Cost of sales

Gross (loss) / profit

Distribution cost

Administrative expenses

Other operating expenses

Operating (loss) / profit

Other income

Finance cost

Profit / (loss) before taxation

Taxation - Net

(Loss)/ profit for the period

(Loss)/profit per share - Basic and diluted - (Rupees)

Half Year Ended						Quarter Ended
31 December						31 December						31 December		31 December
2022	2021	2022	2021
---- (Rupees in '000) ----						---- (Rupees in '000) ----
9,173,707	7,171,737	5,642,051	4,149,556
(9,282,687)	(6,478,939)	(5,430,536)	(3,752,907)
(108,980)				692,798				211,515		396,649
(68,698)				(56,097)				(33,589)		(35,784)
(407,417)				(524,615)				(162,874)		(271,010)
(38,520)				(46,234)				(2,682)		(21,034)
(514,635)			(626,946)			(199,145)		(327,828)
(623,615)			65,852			12,370		68,821
4,680	15,681	2,265	14,646
(12,947)	(3,555)	(6,618)	(1,526)
(631,882)			77,978			8,017		81,941
(98,501)	(234,768)	(56,558)	48,797
(730,383)			(156,790)			(48,541)		130,738
(1.51)	(0.32)	(0.10)	0.27

The auditors have issued qualified opinion on financial statements. Qualifications relate to non- provisioning of markup, classification of current liabilities as non-current liabilities. Furthermore, emphasis of matter paragraph has also been added relating to doubt about company's ability to continue as going concern and outstanding liability of sales tax , federal excise duty and withholding tax.

The Half Yearly Report of the Company for the period ended December 31, 2022 will be transmitted through PUCARS separately, within the specified time.

Yours faithfully,

Muhammad Hanif German	Syed Maqbool Ali
Company Secretary	Director