Zephyr Textiles : QUARTERLY ACCOUNTS AS ON 2022-09-30

T E X T I L E S L I M I T E D

Arbab

Arbab

Azhar Zafar & Company

Ahmad Law Firm

Advocate High Court

Suit No. 7, Block No. 9, Shabbir Town,

Executive Suits, 2.5 Km Raiwind Road,

Lahore-54000, Pakistan

zephyrtextiles.com

209.538

1,918.586 233.800 2,118.775 decreased 4.25%

2021

1,918,586,4972,118,775,113

209,537,767233,800,350

136,543,948138,769,695

34,900,67832,788,787

101,643,270105,980,908

18,882,53819,543,846

82,760,73286,437,062

1.39

1.45

Global economic activity is experiencing a broad-based and sharper than expected slowdown, with inflation higher than seen in several decades. The cost -of-livingcrisis, tightening financial conditions in most regions. Russia's invasion of Ukraine, and the lingering COVID-19pandemic related restrictions in China weigh heavily on the outlook. Global growth is forecast to slow from 6.0 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023. This is the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the COVID-19pandemic.

The Company performed satisfactorily in first quarter of current financial period although there is 9.45% decrease in revenue due to above mentioned global economic condition and domestic issues like scarce and costly fuel and power, hyper-inflation, political instability and severe flooding due to climate change. There is a question mark on new orders for next quarter due to the global slowdown. Availability of raw material is also serious concern after the cotton crop damage from devastating flood. Many textile factories have shut down due to cotton and electricity shortages. The situation might improve in mid third quarter of the current financial period if we are able to counter the above challenges and global textile demand improves.

The directors would like to record their appreciation for the continued commitment and hard work being carried out by the employees of the Company.

Chief Executive

Executive Director

27, 2022

		Un-Audited		Audited
	Note	Sep 30, 2022		June 30, 2022
	(Rupees)		(Rupees)
EQUITY AND LIABILITIES
SHARE CAPITAL
Authorized share capital
62,500,000 ordinary shares of Rs. 10 each		625,000,000	625,000,000
Issued, subscribed and paid-up share capital
59,428,729 ordinary shares of Rs. 10 each		594,287,290	594,287,290
UNAPPROPRIATED PROFIT		1,292,001,988	1,204,612,208
SURPLUS ON REVALUATION OF PROPERTY, PLANT & EQUIPMENT	256,102,768	260,731,816
		2,142,392,046	2,059,631,314
LONG TERM LOANS		76,031,588	78,687,008
DEFERRED LIABILITIES		257,755,902	253,815,825
CURRENT LIABILITIES
Short term finances - Secured		1,390,527,119		1,294,906,119
Current portion of long term liabilities		63,172,640		183,304,248
Creditors, accrued and other liabilities		1,196,483,915		1,288,956,362
Unclaimed dividend		760,698		761,498
Accrued mark up		15,029,702		16,604,711
CONTIGENCIES AND COMMITMENTS	4	2,665,974,074	2,784,532,938
-	-
		5,142,153,610	5,176,667,085
ASSETS
NON CURRENT ASSETS
Property plant & equipment	5	2,123,667,153	2,165,741,974
Capital work in progress		59,839,443	39,591,876
Intagible assets		3,672,334	3,924,394
		2,187,178,930	2,209,258,244
Long term advances and deposits		24,783,801	24,783,801
CURRENT ASSETS
Stores, spares and loose tools		262,632,264		252,184,855
Stock in trade		1,334,245,635		1,341,658,731
		620,042,403		661,414,117
Loans and advances		84,372,391		90,558,985
		469,659,940		474,236,111
Other receivables		63,051,825		56,453,074
Short term investment		1,313,114		1,422,015
Cash and bank balances		94,873,307		64,697,152
		2,930,190,879	2,942,625,040
		5,142,153,610	5,176,667,085

The annexed notes 1 to 8 form an integral part of these condensed interim financial statements.