Page 221 - Interloop Annual Report 2018-2019

NOTES TO THE CONSOLIDATED NOTES TO THE CONSOLIDATED

FINANCIAL STATEMENTS FINANCIAL STATEMENTS

FOR THE YEAR ENDED JUNE 30, 2019 FOR THE YEAR ENDED JUNE 30, 2019

45.1 Following are the related parties with whom the Company had entered into transactions or have arrangements / agreements in place. - 9,245 (603,026) 55,087 (498,956) (53,032) (153,248)
2018 32,141,958 32,141,958 (22,883,089) 9,258,869 (2,641,013) (1,639,210) (4,270,978) 4,987,891 3,734,716
Basis of Common Directorship /
Company Name Address and Country of Incorporation
Relationship Percentage of shareholding Total Company Rupees in ‘000
House # 267, Road # 19, New DOHS Mohakhali, Dhaka, - - 14,444 (58,485)
IL Bangla Limited Associate 31.61% 37,511,062 37,511,062 (25,643,715) 11,867,347 (2,794,393) (2,028,640) (4,823,033) 7,044,314 (714,202) (999,260) (226,260) 5,060,551
Bangladesh 2019
Interloop Holdings (Pvt) Limited Associate Common Directors Al-Sadiq Plaza, P-157, Railway Road, Faisalabad, Pakistan
Interloop Dairies Limited Associate Common Directors Al-Sadiq Plaza, P-157, Railway Road, Faisalabad, Pakistan
Momentum Logistics (Pvt) Limited Associate Subsidiary of Associate Al-Sadiq Plaza, P-157, Railway Road, Faisalabad, Pakistan - - - - - - -
Printkraft (Pvt) Limited Associate Subsidiary of Associate Al-Sadiq Plaza, P-157, Railway Road, Faisalabad, Pakistan (5,806,617) (5,806,617) 5,806,617
Texlan Center (Pvt) Limited Associate Common Directors Dagonna Road, Minuwangoda, Sri Lanka. 2018
Global Veneer Trading Limited Associate N/A Bahnhofasteasse22, 6300 Zug, Switzerland.
Eurosox Plus BV Associate N/A Constructieweg 1, 7451 PS Holten, Netherlands Elimination of Intersegment Transactions Rupees in ‘000 - - - - - - -
Interloop Welfare Trust Trustee N/A Al-Sadiq Plaza, P-157, Railway Road, Faisalabad, Pakistan
Interloop Limited ESOS Management Trust Trustee N/A Al-Sadiq Plaza, P-157, Railway Road, Faisalabad, Pakistan 2019 (8,735,624) (8,735,624) 8,735,624
Interloop Provident Fund Trust Trustee N/A Al-Sadiq Plaza, P-157, Railway Road, Faisalabad, Pakistan

2019 2018 138,545 227,763 (11,741) (29,360) - (41,101) 186,662
2018 2,706,186 2,844,731 (2,616,968)
46. NUMBER OF EMPLOYEES Others Rupees in ‘000
Average number of employees during the year 16,579 15,434 (17,743) (60,480) - (78,223)
Number of employees at end of the year 17,953 15,409 2019 328,745 3,137,202 3,465,947 (3,181,033) 284,914 206,691

47. UTILIZATION OF PROCEEDS FROM INITIAL PUBLIC OFFERING - (888,852) 114,370 - (39,244) 9,245 (29,999) 84,371
The Company planned for setting up two new projects. 2018 1,003,222 1,003,222
- A socks knitting unit in Khurrianwala, Faisalabad, "Hosiery Division - V". Dairies Rupees in ‘000 - - - - - - - - - -
- A denim stitching unit in Lahore, "Denim Division".
2019
Estimated cost of these two projects is as under; This represent various segments of the Company which currently do not meet the minimum reporting threshold mention in international financial reporting standards. These mainly includes domestic
2019 Management has determined the operating segments based on the information that is presented to the Board of Directors of the Company for allocation of resources and assessment of performance. Operating segments are reported in a manner consistent with internal reporting provided to the Chief Operating Decision Maker (‘CODM’). Segment performance is generally evaluated based on certain key
Rupees in ‘000 - - - - - - (2,162) - (2,162) (2,162)
Hosiery Division - V 4,454,000 2018
Denim Division 6,750,423
11,204,423 Apparel Rupees in ‘000 - -
These projects are financed through issuance of share capital to general public and financing from banks. For this purpose the Company carried out a successful 2019 37,555 37,555 (120,108) (82,553) (10,674) (44,431) (55,105) (137,658)
IPO during the year and have secured islamic long term finance facilities from banks. Detail of the proceeds from IPO and financing required from banks is as under; Based on internal management reporting structure and products produced and sold, the Company is organized into the following operating segments: -

2018 4,953,944 2,209,589 7,163,533 (6,567,880) 595,653 (51,066) (36,969) (88,035) 507,618
Proceeds from IPO 5,024,900
Financing from banks 6,179,523
11,204,423 Spinning Rupees in ‘000 - 443,383
2019 5,515,451 2,950,757 8,466,208 (7,893,280) 572,928 (60,302) (69,243) (129,545)
As on June 30, 2019 progress of both the projects is as under; -

Denim Division Hosiery Division-V 2018 26,046,247 890,842 26,937,089 (18,616,006) 8,321,083 (2,578,206) (1,531,475) (4,109,681) 4,211,402
Amount Utilized Outstanding LCs PRs/POs Issued Amount Utilized performance indicators including business volume and gross profit. Hosiery Rupees in ‘000 -
Rupees in ‘000 sales, energy, yarn dyeing, denim and active wear. 2019 31,629,311 2,647,665 34,276,976 23,184,918) 11,092,058 (2,705,674) (1,854,486) (4,560,160) 6,531,898
Land and building 578,637 - 1,413,736 412,708 This segment relates to the sale of socks. This segment relates to the sale of yarn. This segment relates to the sale of apparels. This segment relates to the sale of milk.
Plant and machinery 339,803 912,123 265,892 40,744 e) Other operating segments Segment information 2018 - 19
Interloop Limited Miscellaneous expenses 1,894,292 912,123 2,119,232 531,871 OPERATING SEGMENTS a) Hosiery b) Spinning c) Apparel d) Dairies Intersegment sale Administrative expenses Gain from changes in fair value less cost to sell of Profit before taxation and unallocated income and Unallocated income and Other operating expenses Share of loss from associate Profit after taxation Annual Report
10,168
83,288
-
426,445
Power and utilities
103,440
68,251
13,159
-
-
Advances to suppliers
789,124
-
-
48. 48.1 Sales External sale Cost of sales Gross profit Distribution cost biological assets expenses expenses Other income Finance cost Taxation
218 219