Metropolitan Steel : Corporate Briefing Session for 30, June 2022 x

CORPORATE BRIEFING

SESSION 2022

FOR THE PERIOD ENDED SEPTEMBER

30, 2022 , YEAR ENDED JUNE 30, 2022, &

YEAR ENDED JUNE 30,2021

COMPANY OVERVIEW

• Metropolitan Steel Corporation Limited is a Public Limited Company.
• The shares of the Company are quoted on Pakistan Stock Exchange Limited.
• The Company is a manufacturer of steel products such as mild and high carbon steel wires, Spoke wire ,H.T Helical Wire, M/S Wire.
• The registered office of the Company is situated at Landhi Industrial Area, Plot # HE:1/2, Karachi

KEY FINANCIAL

INDICATORS

• Horizontal Analysis of Statement of Financial Position for the period ended September 30, 2022 and Years ended June 30, 2022 and June 30, 2021.
• Horizontal Analysis of Statement of Comprehensive Income for the Year ended June 30, 2022 and June 30, 2021 and briefly overview of the quarter ended as on September 30,2022.
• Vertical Analysis of Statement of Comprehensive Income for the Year ended June 30, 2022 and June 30, 2021.
• And ratio analysis of these same periods.

METROPOLITAN STEEL CORPORATION LIMITED
HORIZONTAL ANALYSIS OF COMPARATIVE BALANCE SHEETS
FOR THE YEARS ENDED AS ON						FOR ONE YEAR ONLY
					SEPTEMBER 31,		JUNE 30,	JUNE 30,	HORIZONTAL ANALYSIS
					2022		2022	2021	AMOUNT	---%----
					------------------------------		000-------------------------------		--000---
Stores, spares and loose tools	13,007		13,007	13,007	-	0%
Stock-in-trade	54,074		52,665	54,151	(1,486)	-3%
Trade debts	47,413		49,966	48,036	1,930	4%
Claims recoverable			-	81,184	(81,184)	0%
Advances and other receivables	505		430	200	230	115%
Short term deposits	15,147		-	7,216	-	0%
Short term investments	8,014		8,014	8,014	-	0%
Tax refunds due from government - net	12,073		9,684	9,869	(185)	-2%
Interest receivable	71		71	89	(18)	-20%
Cash and bank balances	5,111		5,133	684	4,449	650%
		CURRENT ASSETS	155,414		138,969	222,450

Property, plant and equipment( FIXED ASSETS)	778,664	782,274	796,219	(13,945)
Long term deposits	3,209	3,209	3,209	-
		TOTAL ASSETS	937,287	924,452	1,021,878

-2%

0%

EQUITY AND LIABILITIES

LIABILITIES

Trade and other payables	15,813	15,199	20,188	(4,989)	-25%
Markup accrued	3,745	3,745	3,745	-	0%
Short term borrowings	12,876	-	10,404	(10,404)	0%
Unclaimed dividend	1,273	1,273	1,273	-	0%
Over due portion of lease liabilities	21,338	21,338	21,338	-	0%
CURRENT LIABILITIES	55,045	41,555	56,948
DEFERRED LIABILITIES	31,298	31,809	33,962	(2,153)	-6%
		TOTAL LIABILITIES	86,343	73,364	90,910
SHARESHOLDER'S EQUITY
Issued,subscribed and paid up capital	309,776	309,776	309,776	-	0%
General Reserve	80,500	80,500	80,500	-	0%
Unappropriated (loss)/ profit	(77,826)	(78,933)	(4,323)	(74,610)	1726%
Revaluation surplus on Property plant and equipment	538,493	539,745	545,015	(5,270)	-1%
	TOTAL SHAREHOLDERS'S EQUITY	850,943	851,088	930,968

L LIABILITIES & SHAREHOLDERS'S EQUITY

937,287

924,452

1,021,878

	METROPOLITAN STEEL CORPORATION LIMITED
	HORIZONTAL ANALYSIS OF COMPARATIVE INCOME STATEMENT
	FOR THE YEARS ENDED AS ON
METROPOLITAN STEEL CORPORATION LIMITED
HORIZONTAL ANALYSIS OF COMPARATIVE INCOME STATEMENT
FOR THE YEARS ENDED AS ON
										HORIZONTAL
			SEPTEMBER	JUNE 30,			JUNE 30,		ANALYSIS JUNE 2022
	Description
			2022	2022	2021	---%----
			------------------------------000-------------------------------
Sales - net	7,351	100,734	92,671	9%
Cost of goods sold( excluding depreciation)	(2,734)	(103,342)	(68,677)	50%
Depreciation Expense	(3,561)	(15,042)	(12,490)	20%
	Gross (Loss)/ profit	1,055	(17,650)	11,504	-253%
Administrative expenses	(1,715)	(6,666)	(5,280)	26%
Selling and distribution expenses	(101)	(419)	(366)	14%
Finance cost	(40)	(69)	(57)	21%
Other charges	-	(81,184)	(7,589)		-100%
Other income	252	26,140	2,859	814%
Taxation	404	(32)	774	-104%
	NET (LOSS)/ PROFIT FOR THE YEAR	(145)	(79,880)			1,845	498%