Imperial : Transmission of Quarterly Report for the Period Ended 2023-03-31

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

15

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	Miss. Sundas Akram
Company Secretary	Mr. Jamil Hussain
Financial Institutions	BankIslami Pakistan Limited
	Dubai Islamic Bank Pakistan Limited
	Habib Bank Limited
	Soneri Bank Limited
	The Bank of Khyber
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 condensed Financial Statements for the nine months and quarter ended March 31, 2023 are being presented to the shareholders in accordance with the requirements of the Companies Act, 2017. During the period under review your company earned Revenue of Rs. 260.120 Million against Revenue of Rs. 167.182 Million in the previous corresponding period against placement of funds with various financial institutions. Operating Profit for the period recorded at Rs. 142.719 Million whereas this amount was Rs. 79.073 Million in the previous corresponding period. The Company earned Net Profit After Tax of Rs. 100.528 Million as compared to Rs. 31.904 Million for the previous corresponding year. Earning Per Share for the Nine (09) Months was recorded at Rs. 1.02 (March 31, 2022: Rs. 0.32).

As per the approval of the shareholders, Company funds have been deployed in the two ongoing projects; The Hydroponics Project and the Housing Construction Project.

The Hydroponics Project is under erection & installation. The first crop propagation is projected to start by July 2023.

The Housing Construction Project is well underway with one house already listed on the market as projected and two more coming on the market by end-June 2023. A few other units are either under construction or under design stage.

The Company is in the process of disposing of 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 its Annual General Meeting. Proceeds from the sale of Remaining Assets shall be deployed, together with the existing funds, following the Object Clause of the Company and other businesses permitted by the Memorandum of Association of the Company.

For and on behalf of the Board

Waqar Ibn Zahoor Bandey	Naveed M. Sheikh
Chairman	Director

Lahore

April 29, 2023

4

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (Un-Audited)

AS AT MARCH 31, 2023		March 31,		June 30,
		2023	2022
		(Rupees in '000') (Rupees in '000')
EQUITY AND LIABILITIES	Note
Share Capital And Reserves
Authorized share capital
100,000,000 (2022: 100,000,000)		1,000,000	1,000,000
ordinary shares of Rupees 10 each
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		3,728,140	3,627,612
		10,247,336		10,146,808
LIABILITIES
Non-Current Liabilities
Deferred liabilities	8	1,831,718	1,834,213

Current Liabilities

Trade and other payables
Contingencies and commitments	9
ASSETS
Non-Current Assets
Property, plant and equipment	10
Current Assets
Stores, spares and loose tools
Stock in trade
Loan and advances
Trade deposits, prepayments and other receivables
Accrued markup
Short term investments
Tax refunds due from government
Cash and bank balances
Non current assets held for sale	11

570,554

-

12,649,608

352,355

209,002

434,108

598,937

23,964

20,009

649,165

204,994

1,417,260

3,557,439

8,739,814

12,649,608

568,893

-

12,549,914

120,203

209,002

337,339

226,154

21,524

10,204

490,585

185,164

2,209,925

3,689,897

8,739,814

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

5