Half Yearly Accounts - Fatima Groupfatima-group.com/updata/files/files/167_20190227162041.pdf · 2019-02-27 · Mr. Ikram Azeem Mr. Muhammad Shoaib Alam Khawaja Sajid Mr. Aqeel Saifi

December 31, 2018(Un-Audited)

Half YearlyAccounts

For the Period of Six Months EndedDecember 31, 2018

Reviewed InterimFinancial Statements

02 Reliance Weaving Mills Limited

Shares Registrar

M/s CDC Pakistan Ltd. Mezzanine Floor,

19 - Khyaban-e -Aiwan -e -Iqbal , LSE Plaza Lahore.

[email protected] & [email protected]

Company Information

Board of Directors

Non-Executive Directors

Independent Directors

Mr. Fawad Ahmed Mukhtar

(Chairman)

Dr. M. Shoukat Malik

Mr. Fahd Mukhtar

Mr. Shahid Aziz

Mrs. Fatima Fazal

Executive Directors

Mr. Fazal Ahmed Sheikh

Mr. Faisal Ahmed Mukhtar

Board Committees

Audit Committee

HR & Remuneration Committee

Risk Management Committee

Mr. Shahid Aziz

(Chairman)


(Chairman) Mr. Faisal Ahmed Mukhtar (Chairman)

Mr. Fahd Mukhtar

(Member)

Mr. Faisal Ahmed Mukhtar (Member) Mr. Shahid Aziz (Member)


(Member)

Mr. Fahd Mukhtar

(Member) Dr. M. Shoukat Malik (Member)

Executive Management Team

Chief Executive Officer

Chief Financial Officer Company Secretary

Mr. Fazal Ahmed Sheikh

Mr. Waheed Ahmed Mr. Aftab Ahmed Qaiser

GM Weaving

GM Spinning (Multan) GM Marketing

Mr. Ikram Azeem Mr. Muhammad Shoaib Alam Khawaja Sajid

Mr. Aqeel Saifi

Auditors & Shares Registrar

External Auditors

Chartered Accountants, HM House, 7-Bank Square, Lahore.

Bankers /Financial Institutions

Bank Islami Pakistan Ltd Allied Bank Ltd

Al -Baraka Bank Pakistan Ltd Bank Al Falah Ltd

Habib Metropolitan Bank Ltd The Bank of Punjab

Dubai Islamic Bank Pakistan Ltd The Bank of Khyber

Pak China Investment Company Ltd First Habib Modaraba

Pak Libya Holding Company (Pvt) Ltd National Bank of Pakistan

Pak Brunei Investment Company Ltd Saudi Pak Industrial and

Standard Chartered Bank (Pakistan) Ltd Agricultural Investment Company Ltd

Askari Bank Ltd (Islamic banking Services)

MCB Bank Ltd

Sindh Bank Ltd

Habib Bank Ltd

Faysal Bank Ltd

Soneri Bank Ltd

Samba Bank Ltd

United Bank Ltd

Summit Bank Ltd

Meezan Bank Ltd

Sites AddressUnit # 1,2,4 & 5

Fazalpur Khanewal Road, Multan.

Phone & Fax 061-6740020 -3 & 061-6740039

Business OfficesRegistered Office

2nd Floor Trust Plaza, LMQ Road, Multan.

Tel # 061-4512031-2, 061-4546238

Fax # 061-4511677, 061-4584288

e mail: info@fatima -group.com

Unit # 3

Mukhtarabad, Chak Beli Khan Road, Rawat, Rawalpindi.

Phone & Fax 051-4611579 -81 & 051-4611097

Head Office

E -110, Khyaban -e -Jinnah Lahore.

Tel # 042-35909449, 042-111-328-462,

Fax: 042 -36621389

Website: www.fatima-group.com

ShineWing Hameed Chaudhri & Co.

ENTITY RATING OFRELIANCE WEAVING MILLS LIMITED

ENTITY RATING OFRELIANCE WEAVING MILLS LIMITED

Long Term A-

Short Term A2

CREDIT RATING AGENCY

03Reliance Weaving Mills Limited

On Behalf of Board of Directors

Fazal Ahmed Sheikh(Chief Executive Officer)

Date: February 26, 2019Place: Lahore

Dear Members,

On the behalf of the Board of Directors, I am pleased to present 2nd quarterly Financial

Statements of the company for the period ended December 31, 2018.

Financial Highlights

The company earned net profit of Rs 200 million during the period as compared to Rs. 66

million. Turnover of the company has improved from Rs 6,454 million to Rs 7,127 million, which

is 10% increase. Profitability improved due to cotton stock of last year at competitive price and

one-time wind fall gain of RS 100 million due to PKR devaluation against USD.

Cotton production in Pakistan remained closer to 10 million bales leaving shortfall of 5 million

bales. Export performance is not encouraging during this period. Knitwear and Garment sector

shows export growth only. There is severe pressure of price from customer due to devaluation

of PKR negating the benefit of devaluation. The company during the period imported 48 high

speed looms which are running currently and shall improve profitability of the company.

Director's Reveiw To The Members



2018

SHINEWING HAMEED CHAUDHRI & CO.,CHARTERED ACCOUNTANTS

Date: February 26, 2019Place: Lahore

Independent Auditors' Review Report to the Members


Sd/-Director

Reliance Weaving Mills Limited 07

Sd/-Chief Financial Officer

Sd/-Chief Executive Officer

Condensed Interim Statement of Financial PositionAs at December 31, 2018

Condensed Interim Statement of Profit Or Loss (Un-audited)For The Quarter And Six Months Period Ended December 31, 2018

Sd/-Director




Condensed Interim Statement of Comprehensive Income (Un-audited)For The Quarter And Six Months Period Ended December 31, 2018

Sd/-Director




Condensed Interim Statement of Changes in Equity (Un-audited)For The Six Months Period Ended December 31, 2018

Sd/-Director




Condensed Interim Statement of Cash Flows (Un-audited)For The Six Months Period Ended December 31, 2018

Sd/-Director




Notes to Condensed Interim Financial Statements (Un-audited)For The Six Months Period Ended December 31, 2018


















Documents

Half Yearly Accounts - Fatima Groupfatima-group.com/updata/files/files/167_20190227162041.pdf · 2019-02-27 · Mr. Ikram Azeem Mr. Muhammad Shoaib Alam Khawaja Sajid Mr. Aqeel Saifi