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FINANCIAL STATEMENTS
For theQuarter EndedMarch 31, 2016
(Un-audited)
Punjab Cotton Mills Limited
Contents
Company Information
Director Review
Balance Sheet
Profit and Loss Account
Statement of Comprehensive Income
Cash Flow Statement
Statement of Changes in Equity
Notes to the Accounts
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10-15
PUNJAB COTTON MILLS LIMITED
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Board of Directors Mr. Mazhar Iqbal(Chief Executive)Mr. Sohail Azeem KhanMr. Ali RazaMr. Mushtaq AhmedMr. Khalil Ahmed KhanMr. Rao Muhammad UsmanMr. Jamil akhtar
Company Secretary Mr. Arshad Hussain
Chief Financial Officer Mr Arshad Hussain
Audit Committee Mr. Sohail Azeem Khan Mr. Khalil Ahmed Khan
Mr. Jamil Akhtar
Auditors: Hameed Khan & CompanyChartered Accountants
Legal Advisor Mr. Irshad Ullah Chatta
Bankers: Muslim commercial Bank Ltd.
Share Registrar Corp Tec Associates (Pvt) Limited. 503-E, Johar Town, Lahore. Ph: 042-3517336-37
Registered Head Office Syed Irshad Ali Road, Near Zainibia Complex behind Mansoora 11 km Multan Road Lahore
Mill Mauza Bal Dist. Sheikhupura
Ph 042-35420551Fax 042-35426308
PUNJAB COTTON MILLS LIMITED
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Director's Review
We are pleased to present the unaudited condensed interim financial information of the company for nine months ended March 31, 2016
Summary of operating performance;
Accounts for the nine months ended March 31, 2016 show a profit of Rupees 4,069,814, as compared to profit of Rupees 1,608,773 in the corresponding periods in 2015. The profit is attributed mainly due to rental income and the cost minimum staff required for managing the corporate affairs and safe guarding the remaining assets of the Company. The accumulated losses as on March 31, 2016 was rupees 206,657,356/- and equity of company was negative of Rupees 94,239,789. The Mill is closed down since August 23, 2008.
Negotiations are underway to settle bank liabilities and terms of settlement have been finalized with banks and financial institutions.
Outlook:
The management is in the process of preparing a restructuring plan for the revival of your Company and is doing due diligence on various business options for the future.
In the meanwhile, we remain focused on cost controls and every possible effort is being made to curtail and keep the expenses to a minimum level.
Mazhar IqbalChief Executive
Dated: April 28, 2016.
PUNJAB COTTON MILLS LIMITED
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B A L A N C E S H E E T
PUNJAB COTTON MILLS LIMITED
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(206,657,356)
(91,657,356)
144,889,573
A S A T M A R C H 31 , 2 0 1 6 (Un-Audited)
PUNJAB COTTON MILLS LIMITED
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PUNJAB COTTON MILLS LIMITED
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PUNJAB COTTON MILLS LIMITED
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PUNJAB COTTON MILLS LIMITED
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4,069,814
(206,657,356)
PUNJAB COTTON MILLS LIMITED
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PUNJAB COTTON MILLS LIMITED
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PUNJAB COTTON MILLS LIMITED
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PUNJAB COTTON MILLS LIMITED
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PUNJAB COTTON MILLS LIMITED
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2,351
7,211
15,761
20,621
period
period
period
period
PUNJAB COTTON MILLS LIMITED
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March 31,
PUNJAB COTTON MILLS LIMITED
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28-04-2016
March 31,
March 31, March 31, March 31, March 31,
Book PostPrinted Matter
If undelivered please return to:Punjab Cotton Mills LimitedSyed Irshad Ali Road, Near Zainbia ComplexBehind Mansoora, 11 km Multan Road, Lahore.
