Karachi: We have to inform you that the Board of Directors of our company in their meeting held on 30th September 2011 at 11 AM at 2-KM off Raiwind. Manga Road, Raiwind, Lahore, recommended the following:
(i) Cash Dividend
An Interim Cash Dividend for the Year ended 30th June, 2011 at Rs. Nil per share i.e. Nil %. This is in addition to Interim Dividend already paid at Rs. Nil per share i.e. Nil%.
(ii) Bonus Shares
It has been recommended by the Board of Directors to issue Interim Bonus shares in proportion of Nil shares for every Nil shares held i.e. Nil % This is in addition to the Interim Bonus Shares already issued @ Nil.
(iii) Right Shares
The Board has recommended to issue Nil % Right Shares, at par/at a discount/premium of Ps. Nil .per share in proportion of Nil shares for every Nil shares.
(iv) Any Other Entitlement/Corporate Action Nil
(v) Any Other Price-Sensitive Information Nil
The Profit and Loss and Balance Sheet for the Year ended 30th June, 2011 are enclosed herewith.
The Annual General Meeting of the Company will be held on 29th October 2011 at 9:00 AM at the Registered office of the Company at 2-KM off Raiwind Manga Road, Raiwind, Lahore.
Statement of Financial Position as at June 30, 2011
2011 |
2010 |
||
Equity and Liabilities | Note |
Rupees |
Rupees |
Share Capital and Reserves | |||
Share Capital | |||
Authorized | |||
8,000,000 (2010:8,000,000) ordinary | |||
shares of Rs. 10/- each | 80,000,000 | 80,000,000 | |
———– | ———– | ||
Issued, subscribed and paid up: | 5 | 61,517,000 | 61,517,000 |
Retained earnings | 27,418,749 | 18,339,661 | |
———– | ———– | ||
Total Equity | 88,935,749 | 79,855,661 | |
Non-Current Liabilities | |||
Long-term finance | 6 | – | 4,414,547 |
Liabilities against assets subject to | |||
Finance lease | 7 | 2,271,888 | 4,127,893 |
Loan from directors | 8 | 29,833,132 | 32,071,182 |
Deferred liabilities | 9 | 17,091,910 | 16,458,262 |
———– | ———– | ||
49,196,910 | 57,071,884 | ||
Current Liabilities | |||
Trade and other payables | 10 | 55,630,801 | 46,136,656 |
Accrued mark-up | 2,038,816 | 1,710,878 | |
Short-term finance-secured | 11 | 42,698,721 | 49,188,301 |
Current portion of long term liabilities | 12 | 4,207,124 | 10,938,752 |
Provision for taxation | 13 | 3,963,876 | 3,487,678 |
———– | ———– | ||
108,539,338 | 112,062,265 | ||
Contingencies and Commitments | 14 | – | – |
———– | ———– | ||
246,671,997 | 248,990,810 | ||
Assets | |||
Non-Current Assets | |||
Property, plant and equipment | 15 | 114,527,076 | 105,273,203 |
Capital work in Progress | 16 | 39,800,667 | 13,420,740 |
Long term Security deposits | 16 | 1,215,450 | 1,600,450 |
Current Assets | |||
Stores, spare parts and loose tools | 17 | 262,622 | 360,651 |
Stock in trade | 18 | 18,804,922 | 43,485,308 |
Trade debts | 19 | 11,466,378 | 14,043,283 |
Loans and advances | 20 | 40,041,584 | 16,340,191 |
Trade deposits and short term prepaym | 2,335,759 | 3,691,473 | |
Other receivables | 22 | 5,369,773 | 22,413,219 |
Cash and bank balances | 23 | 12,847,766 | 28,273,292 |
———– | ———– | ||
91,128,804 | 128,616,417 | ||
———– | ———– | ||
248,671,997 | 248,990,810 |
The annexed notes form an integral part of these financial statements.
Chief Executive
Director
Profit and Loss Account for the Year Ended June 30, 2011
2011 |
2010 |
||
Note |
Rupees |
Rupees |
|
Sales- net | 24 | 396,387,622 | 345,439,418 |
Cost of sales | 25 | 356,438,791 | 314,182,885 |
———– | ———– | ||
Gross profit | 39,948,831 | 31,256,533 | |
Operating expenses | |||
Distribution and selling Cost | 26 | 5,098,676 | 3,707,263 |
Administrative expenses | 27 | 11,450,422 | 9,781,950 |
———– | ———– | ||
16,549,098 | 13,489,213 | ||
———– | ———– | ||
Operating profit | 23,399,733 | 17,767,320 | |
Other operating expenses | 28 | 724,257 | 509,585 |
Finance cost | 29 | 9,883,535 | 10,696,319 |
Other operating income | 30 | 968,935 | 272,700 |
———– | ———– | ||
Profit before taxation | 13,760,877 | 6,834,116 | |
Taxation | 31 | 4,681,789 | 3,344,928 |
———– | ———– | ||
Profit after taxation | 9,079,088 | 3,489,188 | |
———– | ———– | ||
Earnings per share – basic | 32 | 1.48 | 0.57 |
The annexed notes form an integral part of these financial statements.
For more information, contact:
Aruj Garment Accessories Limited
2 KM, Off Raiwind Manga Road,
Raiwind, Lahore
Tel: +92-42-35393125-6
Fax: +92-42-35393127
Website: www.aruj.com
E-mail: info@aruj.com