Imperial : Transmission of Quarterly Report for the Period Ended 2022-09-30

CONTENTS

Corporate Information	3
Directors' Report	4
Condensed Interim Statement of Financial Position	5
Condensed Interim Statement of Profit or Loss	6
Condensed Interim Statement of Comprehensive Income	7
Condensed Interim Statement of Cash Flows	8
Condensed Interim Statement of Changes in Equity	9
Condensed Interim Notes to the Financial Statements	10

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Corporate Information

Board of Directors	Mr. Waqar Ibn Zahoor Bandey	- Chairman
	Mr. Naveed M. Sheikh	- Director/CEO
	Mr. Ibrahim Naveed Sheikh	- Director
	Mr. Muhammad Tariq	- Director
	Mr. Shahzad Ullah Khan	- Director
	Mr. Najam Faiz	- Director
	Mrs. Fakhra Chaudhry	- Director
Audit Committee	Mr. Najam Faiz	- Chairman
	Mr. Muhammad Tariq	- Member
	Mr. Shahzad Ullah Khan	- Member
HR & Remuneration	Mr. Shahzad Ullah Khan	- Chairman
Committee	Mr. Ibrahim Naveed Sheikh	- Member
	Mrs. Fakhra Chaudhry	- Member
Chief Financial Officer	Miss. Hina Mustafa
Head of Internal Audit	Mr. Adnan Ahmad
Company Secretary	Mr. Mubashhar Asif
Financial Institutions	BankIslami Pakistan Limited
	Dubai Islamic Bank Pakistan Limited
	Silk Bank Limited
	Soneri Bank Limited
	MCB Bank Limited
Auditors	Tariq Abdul Ghani Maqbool & Co.
	Chartered Accountants
Legal Advisors	Ms. Aniqua Sheikh
	Advocate
Registered Office	M. Ismail Aiwan - e - Science Building,
	205 Ferozepur Road
	Lahore-54600
	Ph # + 92 (042) 3575-8970
	+ 92 (042) 3575-1308
	Fax # + 92 (042) 3576-3247
Shares Registrar	Hameed Majeed Associates (Pvt) Limited
	H.M. House, 7-Bank Square, Lahore.
	Ph # + 92 (042) 3723-5081-2
	Fax # + 92 (042) 3735-8817

DIRECTORS' REVIEW TO THE MEMBERS

Dear Members

Interim un-audited financial statements for the 1st Quarter period ended September 30, 2022 are being presented in accordance with the requirements of International Accounting Standards, Companies Act, 2017 and Rule Book of Pakistan Stock Exchange Limited.

During the period under review your Company earned revenue of Rs. 86,730 Million against revenue of Rs. 37,487 Million in the corresponding period last year against placement of funds with various financial institutions. Operating Profit after administrative and other expenses comes to at Rs. 49,962 Million (2021: Rs. 2,593 Million). Your Company earned Net Profit of Rs. 41,563 Million against Net Loss of Rs. 18.990 Million last year for the same period. Earning for the quarter under review is Rs. 0.42 per share (2021: Loss Rs. 0.19).

Funds presently available with the Company have been deployed with various Financial Instruments/Mutual Funds and also are being used for its Hydroponics Project for which erection/installation of machinery/equipments is in process. Consignments against Letter of Credit have also been aligned according to the phase requirements. We are hopeful that the erection will be completed by 3rd Quarter of this Financial Year and Trial/Commercial production will be started accordingly. The Construction Project is likely to generate/share its revenue by the end of this year as one unit (house) will be ready for sale.

The Company is in the process of disposing its Remaining Assets comprised of a composite sugar manufacturing facility situated at Phalia, District Mandi Bahauddin, as per the resolution passed by the Shareholders of the Company in Annual General Meeting. Proceeds from the sale of Remaining Assets shall be deployed; together with the existing funds; in accordance with the Object Clause of the Company and other businesses permitted by Memorandum of Association of the Company.

For and on behalf of the Board

Waqar Ibn Zahoor Bandey	Naveed Mughis. Sheikh
Chairman	Director

Lahore

October 29, 2022

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CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (Un-Audited)

AS AT SEPTEMBER 30, 2022		September 30,		June 30,
		2022	2022
		(Un-audited)		(Audited)
	Note	(Rupees in '000')		(Rupees in '000')
EQUITY AND LIABILITIES
Share Capital And Reserves
Authorized share capital
100,000,000 (2021: 100,000,000)
ordinary shares of Rupees 10 each		1,000,000	1,000,000
Issued, subscribed and paid-up share capital	6	990,200	990,200
Surplus on revaluation of property, plant and equipment
- net of deferred tax	7	5,528,996	5,528,996
Unappropriated profit		3,669,175		3,627,612
LIABILITIES		10,188,371	10,146,808
Non-Current Liabilities
Deferred liabilities	8	1,832,342	1,834,213
Current Liabilities
Trade and other payables		570,694	568,893
Contingencies and commitments	9	-	-
		12,591,407	12,549,914
ASSETS
Non-Current Assets
Property, plant and equipment	10	133,258	120,203
Current Assets
Stores, spares and loose tools
	209,002		209,002
Stock in Trade		356,161		337,339
Loan and advances		666,362		226,154
Trade deposits, prepayments and other receivables		22,021		21,524
Accrued markup		13,124		10,204
Short term Investments		706,110		490,585
Tax refunds due from government		195,137		185,164
Cash and bank balances		1,550,418		2,209,925
		3,718,335	3,689,897
Non current assets held for sale	11	8,739,814	8,739,814
		12,591,407	12,549,914

The annexed notes from 1 to 15 form an integral part of these financial statements.

Chief Executive Officer

Director

Chief Financial Officer

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