Page 230 - 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

52. EVENT AFTER THE BALANCE SHEET DATE
2019
More than 6 More than 1 The Board of Directors in their meeting held on September 23, 2019 have proposed a final cash dividend for the year ended June 30, 2019 of Rs.1.75 per
Contractual cash Within 6
Carrying amount months and up year and up to 5 share, amounting to Rs. 1,526.34 million for approval of the members at the Annual General Meeting of the holding Company.
flows months
to 1 year years
Rupees in ‘000 53. DATE OF AUTHORIZATION FOR ISSUE
Financial Liabilities :
Long term financing 4,875,936 5,764,488 677,420 934,605 4,152,463 The financial statements were authorized for issue on September 23, 2019 by the Board of Directors of the Company.
Trade and other payables 3,248,567 3,248,567 3,248,567 - - 54. GENERAL
Dividend payable 130,935 130,935 130,935 - -
54.1 Corresponding figures
Accrued mark up 113,942 113,942 113,942 - -
Corresponding figures have been rearranged and reclassified wherever necessary for the purpose of better presentation. However, during the year
Short term borrowings 11,855,742 11,941,219 11,941,219 - - following reclassifications are made in the corresponding figures.
20,225,122 21,199,151 16,112,083 934,605 4,152,463
Rupees in
Particulars From To
'000
2018
More than 6 More than 1 Operating fixed assets - Cost Freehold land Building on freehold land 143
Contractual cash Within 6 Operating fixed assets - Cost Building on freehold land Electric installations 1,290
Carrying amount months and up year and up to 5
flows months Operating fixed assets - Cost Plant and machinery Tools and equipments 1,680
to 1 year years Operating fixed assets - Cost Plant and machinery Electric installations 22,157
Rupees in ‘000 Operating fixed assets - Cost Tools and equipments Building on freehold land 4,249
Operating fixed assets - Cost Tools and equipments Plant and machinery 14,782
Financial Liabilities :
Operating fixed assets - Cost Tools and equipments Furniture and fixtures 2,729
Long term financing 3,216,476 3,652,002 550,166 594,099 2,507,737 Operating fixed assets - Cost Tools and equipments Electric installations 4,871
Operating fixed assets - Cost Office equipments Furniture and fixtures 6,225
Liabilities against assets subject to finance lease 847 1,168 260 519 389 Operating fixed assets - Cost Office equipments Vehicles 11
Operating fixed assets - Cost Electric installations Building on freehold land 5,999
Trade and other payables 2,485,865 2,485,865 2,485,865 - - Operating fixed assets - Cost Electric installations Tools and equipments 2,894
Dividend payable 475,276 475,276 475,276 - - Operating fixed assets - Cost Electric installations Plant and machinery 2,529
Operating fixed assets - Cost Furniture and fixtures Building on freehold land 105
Accrued mark up 137,856 137,856 137,856 - - Operating fixed assets - Cost Furniture and fixtures Tools and equipments 2,731
Operating fixed assets - Cost Furniture and fixtures Electric installations 134,836
Short term borrowings 15,180,937 15,329,105 15,329,105 - - Operating fixed assets - Cost Furniture and fixtures Plant and machinery 10,339
Operating fixed assets - Cost Vehicles Tools and equipments 102,813
21,497,257 22,081,272 18,978,528 594,618 2,508,126
Operating fixed assets - Accumulated depreciation Building on freehold land Electric installations 5,316
Operating fixed assets - Accumulated depreciation Plant and machinery Tools and equipments 474
The contractual cash flows relating to the above financial liabilities have been determined on the basis of interest rates / mark-up rates effective as at 30 Operating fixed assets - Accumulated depreciation Tools and equipments Building on freehold land 1,460
June. The rates of interest / mark up have been disclosed in note 24 and note 29 to these financial statements. Operating fixed assets - Accumulated depreciation Tools and equipments Plant and machinery 10,941
Operating fixed assets - Accumulated depreciation Tools and equipments Furniture and fixtures 161
51.4. Capital risk management Operating fixed assets - Accumulated depreciation Tools and equipments Electric installations 312
Operating fixed assets - Accumulated depreciation Office equipments Furniture and fixtures 4,831
The primary objective of the Company’s capital management is to safeguard the company’s ability to continue as a going concern, maintain healthy capital Operating fixed assets - Accumulated depreciation Office equipments Vehicles 11
ratios, strong credit rating and optimal capital structures in order to ensure ample availability of finance for its existing and potential investment projects, Operating fixed assets - Accumulated depreciation Electric installations Tools and equipments 2,326
so that it can continue to provide returns for shareholders thereby maximizing their wealth, benefits for other stakeholders and reduce the cost of capital. Operating fixed assets - Accumulated depreciation Electric installations Plant and machinery 2,644
Operating fixed assets - Accumulated depreciation Furniture and fixtures Tools and equipments 1,659
The Company manages the capital structure in the context of economic conditions and the risk characteristics of the underlying assets. In order to maintain Operating fixed assets - Accumulated depreciation Furniture and fixtures Electric installations 54,925
or adjust the capital structure, the Company may, for example, adjust the amount of dividends paid to shareholders, issue new shares, or sell assets to Operating fixed assets - Accumulated depreciation Furniture and fixtures Plant and machinery 1,562
reduce debt. Operating fixed assets - Accumulated depreciation Vehicles Tools and equipments 74,003
Depreciation expense Administrative expenses Cost of sales 17,470
The Company monitors capital on the basis of debt to equity ratio, calculated on the basis of total debt to equity. Advertisement expense Distribution cost Administrative expense 4,379
54.2 Rounding
2019 2018
Figures have been rounded off to the nearest thousand.
Rupees in ‘000
Long term financing 4,875,936 3,216,476
Liabilities against assets subject to finance lease - 847
Short term borrowings 11,855,742 15,180,937
Debts 16,731,678 18,398,260
8,816,282
Equity 17,515,883 27,214,542 2018 - 19
Interloop Limited Gearing ratio (Percentage) 48.86 67.60 Annual Report
Total capital (equity + debt)
34,247,561

228 CHIEF EXECUTIVE OFFICER DIRECTOR CHIEF FINANCIAL OFFICER 229