Page 259 - InterloopAnnualReport2020

NOTES TO THE CONSOLIDATED

FINANCIAL STATEMENTS

For the year ended June 30, 2020

2020 2019
Note (Rupees ‘000) (Rupees ‘000)

35. COST OF SALES
Raw material consumed 35.1 17,409,016 15,707,302
Stores and spares consumed 35.2 1,131,282 859,712
Knitting charges 244,555 18,930
Salaries, wages and benefits 35.3 7,435,290 5,574,179
Staff retirement gratuity 28.1.3 685,308 444,633
Fuel and power 2,008,413 2,264,744
Repairs and maintenance 196,501 129,769
Insurance 51,184 52,485
Depreciation 9.1.2 1,840,458 1,497,725
Depreciation on right of use assets 9.3.1 37,272 –
Amortization 10.1.1 5,577 –
Rent, rate and taxes 526 32,900
Other manufacturing costs 166,768 238,042
31,212,150 26,820,421
Work in process
Opening balance 597,562 471,276
Closing balance (663,831) (597,562)
(66,269) (126,286)
Cost of goods manufactured 31,145,881 26,694,135

Finished goods
Opening balance 1,965,058 1,484,177
Closing balance (3,219,131) (1,965,058)
(1,254,073) (480,881)
Drawback (668,623) (569,539)
29,223,185 25,643,715

35.1 Raw material consumed
Opening balance 3,735,355 3,166,265
Purchases 18,838,764 16,276,392
22,574,119 19,442,657
Closing balance (5,165,103) (3,735,355)
17,409,016 15,707,302

35.2 Stores and spares consumed
Opening balance 890,404 779,198
Purchases 1,311,818 970,918
2,202,222 1,750,116
Closing balance (1,070,940) (890,404)
1,131,282 859,712

35.3 Salaries, wages and benefits include Rs. 7.989 million (2019: Rs. 6.321 million) in respect of the provident
fund contribution.

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