Power Cement Limited

September 30, 2021

The General Manager

Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi.

Subject: FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30, 2021

Dear Sir,

We have to inform you that the Board of Directors of our Company in their meeting held on September 29, 2021 at 03:00 p.m. via video-link recommended the following:

i. CASH DIVIDEND NIL
ii. BONUS SHARES NIL
iii. RIGHT SHARES NIL
iv. ANY OTHER ENTITLEMENT / CORPORATE ACTION NIL
v. ANY OTHER PRICE SENSITIVE INFORMATION NIL

The financial results of the Company for the year ended June 30, 2021 are enclosed herewith as Annexure-I.

The Annual General Meeting of the Company will be held on October 28, 2021 at 04:30 p.m. via video-link.

The Share Transfer Books of the Company will be closed from October 22, 2021 to October 28, 2021 (both days inclusive). Transfers received at our Share Registrar M/s. CDC Share Registrar Services Limited, CDC House, 99-B, Block-B, S.M.C.H.S, Main Shahrah-e-Faisal, Karachi at the close of business on October 21, 2021 will be treated in time for the purpose of Annual General Meeting.

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

Yours Sincerely,

Tahir Iqbal
Chief Financial Officer &
Company Secretary

Encl: as above

Head Office : Arif Habib Centre 23. M.T. Khan Road, Karachi - 74000. Pakistan. Phone : (92-21) 32468231-32. 32468350-51
Fax : (92-21) 32463209 E-mail : [email protected] Web : www.powercement.com.pk
Factory : Nooriabad Industrial Area, Kalo Kohar Distt. Jamshoro, Sindh. PABX: 025 - 4670600
A5
Arif Habib Group

POWER CEMENT LIMITED

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED JUNE 30, 2021

| | 2021 | Restated
2020 |
| --- | --- | --- |
| | (Rupees in '000) | |
| Revenue from contracts with customers | 14,220,613 | 4,113,353 |
| Cost of sales | (11,130,976) | (4,229,520) |
| Gross profit / (loss) | 3,089,637 | (116,167) |
| Selling and distribution expenses | (1,195,573) | (426,535) |
| Administrative expenses | (254,537) | (190,279) |
| Other income | 355,989 | 80,129 |
| Other operating expenses | (30,892) | (268,115) |
| Loss allowance on trade receivables | (36,393) | (67,259) |
| Profit / (loss) from operations | 1,928,231 | (988,226) |
| Finance income | 12,014 | 12,467 |
| Finance costs | (2,611,453) | (2,991,017) |
| Finance costs - net | (2,599,439) | (2,978,550) |
| Loss before income tax | (671,208) | (3,966,776) |
| Taxation | 1,029,567 | 345,147 |
| Profit / (loss) for the year | 358,359 | (3,621,629) |
| Other comprehensive (loss) / income: | | |
| Items that are or may be reclassified subsequently to profit or loss | | |
| Changes in fair value of cash flow hedges - net of tax | 71,555 | 96,643 |
| Adjustment for amounts transferred to profit or loss | (71,555) | (96,643) |
| Items that will not be reclassified to profit or loss | - | - |
| Actuarial loss on remeasurement of defined benefit obligations | (5,845) | (3,261) |
| Related deferred tax | 1,237 | 7,821 |
| | (4,608) | 4,560 |
| Other comprehensive (loss) / income for the year - net of tax | (4,608) | 4,560 |
| Total comprehensive income / (loss) for the year | 353,751 | (3,617,069) |
| | (Rupees) | |
| Earnings / (loss) per share - basic | 0.17 | (3.41) |

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