Contents
02 | Corporate Information |
03 | Directors' Review |
06 | Directors' Review in Urdu |
08 | Condensed Interim Balance Sheet (Un-Audited) |
10 | Condensed Interim Profit and Loss Account (Un-Audited) |
11 | Condensed Interim Statement of Comprehensive Income (Un-Audited) |
12 | Condensed Interim Changes in Equity (Un-Audited) |
13 | Condensed Interim Cash Flow Statement (Un-Audited) |
14 | Notes to the Condensed Interim Financial Information |
CORPORATE INFORMATION
Board of Directors | |
Mrs. Samera Irfan | Chief Executive/ Executive Director |
Mr. Rahat Ullah | Chairman/Non-Executive Director |
Mr. Zia Ur Rehman | Non-Executive Director |
Ms. Sonia Farooq | Independent Director |
Mr. Shahzad Javed Panni | Independent Director |
Mr. Khalil Ur Rehman | Non-Executive Director |
Mr. Pir Waris Shah | Non-Executive Director |
Audit Committee | |
Mr. Khalil Ur Rehman | Chairman |
Mr. Rahat Ullah | Member |
Mr. Shahzad Javed Panni | Member |
Mr. Zia Ur Rehman | Secretary |
Human Resource Committee | |
Mr. Pir Waris Shah | Chairman |
Ms. Sonia Farooq | Member |
Mr. Zia Ur Rehman | Secretary |
Senior Management | |
Mrs. Samera Irfan | Chief Executive |
Company Secretary | |
Mr. Pir Farhan Shah | |
Bankers | Share Registrar |
National Bank of Pakistan | CDC Share |
MCB Bank Limited | Registrar Services Limited |
Askari Bank Limited | CDC House, 99-B, Block B |
Habib Bank Limited | S.M.C.H.S., Main Shahreh e Faisal |
Samba Bank Limited | Karachi |
External Auditors | Registered Office |
Yousaf Adil & Co. | Khyber Tobacco Company Limited |
Chartered Accountants | Nowshera Road, Mardan |
Telephone: +92-937-844668, 844639 | Fax: +92-937-843329 |
Internal Auditors | |
Shahid Ahmad & Co. | |
Chartered Accountants |
2 Khyber Tobacco Company Limited
DIRECTORS' REVIEW
The Board of Directors present you the brief report together with the financial information of the Company for the nine months' period ended March 31, 2023.
Jul-March | Jul-March | ||
Financial Highlights | 2023 | 2022 | % |
Rs. in Millions | |||
Turnover - gross | 8,349.48 | 2,667.97 | 213% |
Turnover - net | 5,779.97 | 1,150.03 | 403% |
Cost of sales | 3,703.68 | 874.02 | 324% |
Gross profit | 2,076.29 | 276.01 | 652% |
Profit (Loss) before taxation | 1,537.19 | 6.22 | 24628% |
Profit (Loss) for the period | 1,353.16 | (37.91) | 3669% |
The above results indicate an overall revenue increase of 213% as compared to the corresponding period of the last year. The gross profit has increased by 652% as compared to last year profit before taxation has increased up to 24628% as compared to last year, the increase in overall turnover is mainly due to increase in sale of both local sales and export of tobacco. The price hike during the period under consideration as compared to the corresponding period has positively affected the EPS is being Rs. 234.56 as compared to loss per share of Rs. (7.89) as reported in the corresponding period.
OPERATIONAL HIGHLIGHTS
The Company continued to focus on enhancing productivity across its value chain by ensuring effective cost management, lean operations, and modernization of machinery infrastructure. KTC's export initiative during the current period resulted increase in exports of Rs. 4.748 Billion during the period under review. KTC export initiatives have significant potential to grow in the coming years generating additional valuable foreign currency inflows.
Management of the Company has focused on local sales of cigarettes and has succeeded quite a lot in their endeavors to recover from the effects of low sales during the year. Management is continuously endeavoring to expand its local market by adding new customers to its existing customer base.
FUTURE OUTLOOK
As part of the strategy, the Company is looking at both local and foreign market to increase the future revenue. Your Company is very hopeful to revive good revenue from local sales and export of tobacco. The Company is confident that we can take these markets to the next level with experience. As the technology is continuously evolving, the Company is also continuously upgrading their skills and is aligned with the technological enhancements and rapid changes in the industry.
The Local Cigarette sales are the backbone of the company's cash flows during the time of uncertain tobacco exports and have always been the main source of profitability of the company. However the easy availability of the counterfeit product has adversely affected the profitability of the company. To counter the malice, the company has adopted the strategy of differentiation of products and has decided to heavily invest to acquire modern and state of the art making and packing machines to improve the quality of its products and has therefore acquired low cost financing from its shareholders.
Khyber Tobacco Company Limited | 3 | |
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Khyber Tobacco Company Ltd. published this content on 29 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 May 2023 09:34:10 UTC.