Indus Dyeing & Manufacturing : Transmission of Quarterly Report for the Period Ended 31/03/2023

S.No	Contents	Page No.
1	Company Information	-
2	Directors' Report	-
3	Directors' Report ( Urdu )	-
4	Unconsolidated Condensed Interim Balance Sheet	-
5	Unconsolidated Condensed Interim Profit and Loss Account	-
6	Unconsolidated Condensed Interim Statement of Other Comprehensive Income	-
7	Unconsolidated Condensed Interim Statement of Changes in Equity	-
8	Unconsolidated Condensed Interim Cash Flow Statement	-
9	Unconsolidated Interim Notes to the Financial Statement	-
10	Consolidated Condensed Interim Balance Sheet	-
11	Consolidated Condensed Interim Profit and Loss Account	-
12	Consolidated Condensed Interim Statement of Other Comprehensive Income	-
13	Consolidated Condensed Interim Statement of Changes in Equity	-

1. Consolidated Condensed Interim Cash Flow Statement
2. Consolidated Interim Notes to the Financial Statement

		Company profile
	Board of Directors
1	Mr. Naveed Ahmed	Chairman
2	Mr. Shahzad Ahmed	Chief Executive Officer
3	Mr. Kashif Riaz

• Mr. Imran Ahmed
  5 Mr. Irfan Ahmed
  6 Mr. Sheikh Shafqat Masood
  7 Mrs. Fadia Kashif
  8 Mr. Faisal Hanif
  9 Mr. Aamir Amin ( NIT )

10 Ms. Azra Yaqub Vawda

	Audit Committee
1	Mr. Faisal Hanif	Chairman
2	Mr. Irfan Ahmed	Member
3	Mr. Sheikh Shafqat Masood	Member
	Human Resource and Remuneration Committee
1	Mr. Faisal Hanif	Chairman
2	Mrs. Fadia Kashif	Member
3	Mr. Sheikh Shafqat Masood	Member
	Company Secretary
	Mr. Ahmed Faheem Niazi
	Chief Financial Officer
	Mr. Muhammad Waseem Umar
	Chief Internal Auditor
	Mr. Yaseen Hamidia
	Legal Advisor
	Mr. M. Yousuf Naseem ( Advocates & Solicitors )
	Registered Office
	Office # 508,	UAN	111 - 404 - 404
	5th floor, Beaumont Plaza,	Tel	009-221-35693641 - 60
	Civil Lines Quarters, Karachi.
	Symbol of the Company	IDYM
	Website
	www.indus-group.com

Auditors

M/s Yousuf Adil

Chartered Accountants

	Registrar & Share Transfer Office
	JWAFFS	Registrar ( Pvt ) Ltd.
	407-408, Al - Ameera Centre,	Tel.	35662023 - 24
	Shahrah-e-Iraq, Saddar, Karachi.	Fax.	35221192
	Factory Location
1	P 1 & P 5	S.I.T.E.	Tel.	0223 - 886281 & 84
	Hyderabad, Sindh.
2	Plot # 3 & 7, Sector - 25,	Tel.	021- 35061577 - 9
	Korangi Industrial Area, Karachi.
3	Muzaffergarh, Bagga Sher,	Tel.	0662 - 490202 - 205
	District Multan.
4	Indus Lyallpur Limited.	Tel.	041 - 4689235 - 6
	38th Kilometer, Shaikhupura Road,
	District Faisalabad.
5	Indus Home Limited.	UAN	111 - 404 - 405
	2.5 Kilometer,	Tel.	042 - 35385021 - 7
	Off Manga Raiwind Road,
	Manga Mandi, Lahore.
6	Indus Wind Energy Limited.	UAN	111 - 404 - 405
	Deh Kohistan 7/3 & 7/4	Tel.	021 - 35693654 ( Ext - 177 )
	Tapo Jangshahi,
	Taluka & District Thatta.

INDUS DYEING AND MANUFACTURING COMPANY LIMITED

DIRECTORS' REVIEW

FOR THE NINE MONTH PERIOD ENDED MARCH 31, 2023

The Board of Directors present the un‐audited, condensed interim financial information of the Company for the third quarter ended on Mar 31, 2023. The Comparative figures for the corresponding period ended on Mar 31, 2022 have been used for comparison, except in statement of financial position where figures used are for the year ended on Jun 30, 2022.

FINANCIAL RESULTS

Consolidated turnover for the nine‐month period ending on March 31, 2023 was Rs. 55,555 million against Rs. 53,319 million for the same period last year, whereas the consolidated net profit after tax was Rs: 926 million as compared to Rs. 6,742 million in the last corresponding period. The Company have faced various challenges during the fiscal period. The following are the financial results of the Company for the nine months period ended March 31, 2023.

FINANCIAL HIGHLIGHTS

	Nine Months Period Ended March 31 (Rs. In Millions)
	2023	2022
Sales‐Net	55,555	53,319
Gross Profit	5,420	10,000
Other Operating Income	315	386
Profit Before Taxation	1,494	7,296
Taxation	(568)	(554)
Net Profit After Tax	926	6,742

REVIEW OF OPERATIONS

During the period under review the Company's net turnover increased by 4.2%. The gross profit as a percentage decreased by 45.8% as in the corresponding period. During the period margins on textile products remain under pressure due to slow down in global demand and high cost of imported cotton. The finance cost during the period increased by Rs. 1,192 million as compared to corresponding period. The Company's finance cost increased significantly due to increase in policy rate by State Bank of Pakistan (SBP) and non‐availability of SBP Long Term Finance Facility (LTFF) for earlier planned CAPEX. The Company's profit after tax decreased by Rs. 5,816 million.

DIVIDEND

There is no interim dividend announced during the period under review.

EARNINGS PER SHARE

The earnings per share for the nine‐month period ended March 31, 2023 is Rs. 17.08 per share as compared to Rs. 124.34 per share over the previous corresponding period.

CHANGE IN NATURE OF BUSINESS

There is no change occurred in the nature of Company's business during the period.

FUTURE PROSPECTS

Textile industry is already facing a crisis‐like situation due to multiple factors, including stagnant demand in the international market, a drastic plunge in cotton production to 4.5 million bales against a demand of 15 million bales, inordinate delay in the retirement of Letters of Credit (LCs) documents, doubling the electricity tariff from Rs. 19.99 to more than Rs. 40 / kWh, blockage of tax refunds etc. The textile industry has invested more than USD 3 billion over the last three years with the intent to take the textile industry exports to USD 50 billion in the next few years. Also, the industry has a plan to install 1000 garment units to create some seven million jobs and all such initiatives would remain unmet in case the government fails to ensure both the availability and affordability of cost of doing business.

The growth of the textile industry has already been hampered badly and the overall textile exports have fallen by 28% during the month of February 2023 while there was a fall of more than 11% during the first eight months of the current fiscal year as compared with the corresponding period of the last year and translation of any dream of diverting gas of textile industry to any other sector including fertilizer would lead to massive closure of textile export units.