Dynea Pakistan : Transmission of Quarterly Report for the Period Ended September 30, 2022.

DYNEA PAKISTAN LIMITED

Condensed Interim Financial Statements

for the First Quarter ended September 30, 2022

(Un-Audited)

CONTENTS

Company Information	02
Directors' Report	03
Condensed Interim Statement of Financial Position	05
Condensed Interim Statement of Profit or Loss Account	06
Condensed Interim Statement of Comprehensive Income	07
Condensed Interim Statement of Cash Flows	08
Condensed Interim Statement of Changes in Equity	09
Notes to the Condensed Interim Financial Statements	10

DYNEA PAKISTAN LIMITED	01

COMPANY INFORMATION

Board of Directors :
Mr. Donald John Jenkin	Chairman
Mr. Shabbir Abbas	Chief Executive Officer
Mr. Lee Kin Seng
Ms. Anam Fatima Khan
Mr. Adnan Afridi
Mr. Andalib Alavi
Mr. Tariq Ahmed
Audit Committee :
Mr. Adnan Afridi	Chairman
Mr. Donald John Jenkin	Member
Mr. Andalib Alavi	Member
Human Resource and
Remuneration Committee :

Mr. Andalib Alavi	Chairman
Mr. Donald John Jenkin	Member
Ms. Anam Fatima Khan	Member
Mr. Shabbir Abbas	Member
Chief Financial Officer :
Mr. Muhammad Shakeel Uddin
Company Secretary and
Head of Internal Audit:
Mr. Mujtaba Hassan Ghanchi

Bankers :

M/s. Habib Bank Limited

M/s. National Bank of Pakistan

M/s. Habib Metropolitan Bank Limited

M/s. Allied Bank Limited

M/s. MCB Bank Limited

M/s. Bank Al-Falah Limited

M/s. Standard Chartered Bank (Pakistan) Limited

M/s. Meezan Bank Limited

M/s. United Bank Limited

M/s. Dubai Islamic Bank Pakistan Limited

Auditors :

M/s. EY Ford Rhodes

Chartered Accountants

Legal Advisors :

M/s. Zahid & Tariq Advocates

Share Registrar :

FAMCO Associates (Pvt) Ltd

Management Consultants & Share Registrars 8-F, Next to Hotel Faran Nursery, Block - 6, P.E.C.H.S, Shahra-e-Faisal, Karachi.

Ph: (92-21)34380101-5,34384621-3 (Ext. 103)

Fax: [phone]

Registered Office :

Office No.406, Parsa Tower, Plot No.31/1/A,

Block-6. P.E.C.H.S., Shahrah-e-Faisal,

Karachi.75400

Ph: (92-21) 34520132 - 35

Fax: [phone]

Factories :

1) Hub Unit

A101 - A105, A132 - A136,

Hub Industrial Trading Estate,

Hub Chowki, Distt. Lasbella, Balochistan.

Ph: (92-853) 363706 - 09

Fax: [phone]

2) Gadoon Unit

34-A,34-B, 35, 38-A and 88, Road-3,

Industrial Estate, Gadoon Amazai,

District Swabi, Khyber Pakhtunkhwa.

Ph: (92-938) 270150 - 52

Fax: [phone]

02	DYNEA PAKISTAN LIMITED

DIRECTORS' REPORT

FOR THE QUARTER ENDED

SEPTEMBER 30, 2022

The Directors of your Company present this report along with the unaudited financial results for the first quarter ended September 30, 2022.

During the period ended September 30, 2022, the Company made a loss before tax of Rs. 2.27 million and an after tax loss of Rs. 1.53 million compared to the profit before tax of Rs. 254.51 million and after tax profit of Rs. 180.56 million during the corresponding period last year. The basic and diluted loss per share is Rs. 0.08 against profit per share of Rs. 9.57 for corresponding period last year.

Resin Division

The Resin Division generated sales revenue of Rs. 771.16 million compared to Rs.801.70 million achieved during the same period last year, showing a decrease of 3.81%. The Resin Division result was Rs. 55.65 million compared to Rs.109.74 million for the corresponding period of the last financial year.

Moulding Compound Division

The Moulding Compound Division generated sales revenue of Rs.1,285.45 million compared to Rs. 1,153.33 million achieved during the same period last year, showing an increase of 11.46%. The Moulding Compound Division result was Rs.88.22 million compared to Rs.223.47 million for the corresponding period of the last financial year.

Future Outlook

Market Conditions:

The fluctuation in exchange rates, high interest cost and increase in utility charges has increased our cost of doing business. Market size shrank due to economic downturn reducing people's purchasing power and floods which negatively affected delivery and consumption of our products. The Company is monitoring the situation and shall take counter measures to minimize the impact.

Acknowledgement

The Directors of the Company would like to thank the Almighty Allah for all His blessings in these challenging times. We wish to convey our appreciation to our shareholders, customers, financial institutions and other stakeholders for their continued support and the confidence that they have shown in the Company.

On behalf of the Board

Shabbir Abbas	Donald Jenkin
Chief Executive Officer	Chairman
Karachi, October 25, 2022.

DYNEA PAKISTAN LIMITED	03

04	DYNEA PAKISTAN LIMITED