Page 135 - InterloopAnnualReport2021

NOTES TO THE

FINANCIAL STATEMENTS

For the year ended June 30, 2021

2021 2020
Note (Rupees ‘000) (Rupees ‘000)
33. COST OF SALES
Raw material consumed 33.1 25,962,379 17,004,146
Stores and spares consumed 33.2 1,562,094 1,101,147
Knitting, processing and packing charges 1,062,841 124,469
Salaries, wages and benefits 33.3 8,987,551 7,122,873
Staff retirement gratuity 26.1.3 731,837 670,052
Fuel and power 2,585,320 1,987,473
Repairs and maintenance 300,856 192,329
Insurance 61,031 49,197
Depreciation 7.1.2 2,054,495 1,800,919
Depreciation on right of use assets 7.3.1 40,844 12,471
Amortization 8.2 2,118 5,577
Rent, rate and taxes 1,993 526
Other manufacturing costs 124,702 154,313
43,478,061 30,225,492
Work in process
Opening balance 589,622 597,562
Transfer upon amalgamation 202,984 –
Closing balance (1,368,804) (589,622)
(576,198) 7,940
Cost of goods manufactured 42,901,863 30,233,432
Finished goods
Opening balance 3,089,208 1,954,089
Transfer upon amalgamation 52,281 –
Closing balance (3,239,645) (3,089,208)
(98,156) (1,135,119)
42,803,707 29,098,313
DDT (2,053,722) (659,237)
40,749,985 28,439,076

33.1 Raw material consumed
Opening balance 5,131,795 3,730,840
Transfer upon amalgamation 154,006 –
Purchases 27,344,437 18,405,101
32,630,238 22,135,941
Closing balance (6,667,859) (5,131,795)
25,962,379 17,004,146

33.2 Stores and spares consumed
Opening balance 1,062,524 887,659
Transfer upon amalgamation 9,926 –
Purchases 1,688,760 1,276,012
2,761,210 2,163,671
Closing balance (1,199,116) (1,062,524)
1,562,094 1,101,147

33.3 Salaries, wages and benefits include Rs. 8.158 million (2020: Rs. 7.989 million) in respect of the provident
fund contribution.

133