Thal : Financial Results for the Year Ended June 30, 2023

TL/2023/4343

September 11, 2023

The General Manager,

Pakistan Stock Exchange Limited,

Stock Exchange Building,

Stock Exchange Road,

Karachi - 74000

FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30, 2023

Dear Sir,

We are pleased to inform you that the Board of Directors of our Company in their meeting held on Monday, September 11, 2023 at 15:30 have recommended the following:

1. Cash Dividend:
   A final cash dividend for the year ended June 30, 2023 @ Rs. 6.50 per share i.e. 130%. This is in addition to interim dividend already paid at Rs. 1.50 per share i.e. 30%.
2. Financial Results:
   The financial results of the Company for the year ended June 30, 2023 are as follows:
   • Unconsolidated Statement of Profit or Loss

	2023	2022
	------ (Rupees in '000) ------
Revenue - net	31,925,003	37,351,493
Cost of sales	(27,510,072)	(30,847,355)
Gross profit	4,414,931	6,504,138
Distribution and selling expenses	(781,425)	(734,179)
Administrative expenses	(1,107,018)	(985,384)
Other charges	(596,161)		(546,508)
	(2,484,604)	(2,266,071)
Other income	2,487,555	1,831,791
Operating profit	4,417,882	6,069,858
Finance costs	(405,451)	(144,964)
Profit before taxation	4,012,431	5,924,894
Taxation	(1,261,672)	(1,667,646)
Net profit for the year	2,750,759		4,257,248
	------ (Rupees) -----
Basic and diluted earnings per share	33.95	52.54

• Consolidated Statement of Profit or Loss

		2023	2022
		----- (Rupees in '000) -----
Revenue - net	33,132,564	39,816,991
Cost of sales	(29,086,535)	(33,338,018)
Gross profit	4,046,029	6,478,973
Distribution and selling expenses	(793,225)	(755,647)
Administrative expenses	(1,811,271)	(1,609,559)
Other charges	(801,778)		(626,741)
		(3,406,274)	(2,991,947)
Other income	4,204,458	3,242,805
Operating profit	4,844,213	6,729,831
Finance costs	(604,034)	(285,902)
		4,240,179	6,443,929
Share of profit after tax of associates and joint venture	3,046,668	2,408,372
Profit before taxation	7,286,847	8,852,301
Taxation	(2,426,820)	(2,523,872)
Net profit for the year	4,860,027	6,328,429
Attributable to
-	Equity holders of the Holding Company	4,407,708	5,810,776
-	Non-controlling interest	452,319		517,653
		4,860,027		6,328,429
		-------- (Rupees) --------
Basic and diluted earnings per share attributable to the
	equity holders of the Holding Company	54.40	71.71

Annual General Meeting:

The fifty-seventh Annual General Meeting of the Members of the Company will be held on Monday October 23, 2023 at 09:30 AM at ICAP Auditorium, Institute of Chartered Accountants of Pakistan, Chartered Accountants Avenue, Clifton, Karachi.

The above entitlement will be issued to the shareholders whose names will appear in the Register of members on Thursday October 16, 2023.

Book Closure:

The share transfer books of the Company will remain closed from October 17, 2023 to October 23, 2023 (both days inclusive). Transfers received at the Company's Share Registrar, M/s FAMCO Associates (Private) Limited, 8-F, next to Hotel Faran, Nursery, Block-6, PECHS, Shahrah-e-Faisal, Karachi (Telephone: [phone], [Ext: 119], Fax: [phone]) at the close of business on October 16, 2023 will be treated in time for the purpose of the above entitlement to the transferees.

The Annual Report of the Company will be transmitted through PUCARS at least 21 days before holding of Annual General Meeting.

Yours faithfully,

For Thal Limited

Sameer Amlani

Company Secretary

CC to:
Chief Executive Officer	Executive Director/HOD
Central Depository Company of Pakistan	Offsite-II Department, Supervision Division
CDC House # 99-B,Block-B	Securities and Exchange Commission of Pakistan
S.M.C.H.S. Shahrah-e-Faisal	63, NIC Building, Jinnah Avenue
Karachi	Blue Area, Islamabad
Fax: [phone] / Tel: [phone]