Page 40 - InterloopAnnualReport2021

EARNINGS PER SHARE

The Basic and Diluted earnings per share after tax is Rs. and Exchange Commission of Pakistan (SECP) and the
7.21 (2020: Rs 2.06) Rule Book of Pakistan Stock Exchange (PSX).

DIVIDEND The following comments are acknowledgement of
company’s commitment to high standards of Corporate
In view of the company’s earnings, the Board of Directors
Governance and Continuous Improvement:
has recommended a Final Cash Dividend in respect of the
1. The financial statements, prepared by the
financial year ended June 30, 2021, at the rate of Rs. 1 per
Management of the company, fairly present its
share (i.e. 10%), is subject to approval of the members at
state of affairs, the results of its operations, cash
the Annual General Meeting to be held on October 15,
flows and changes in equity.
2021, including the interim dividend of Rs.1.50 per share
2. Proper books of account of the company have
(i.e. 15%) already paid, which make a total cash distribution
been maintained.
of Rs. 2.5 (i.e. 25%) for the year ended Jun 30, 2021.
3. Appropriate accounting policies have been
These financial statements do not include the effect of the
consistently applied in preparation of the financial
proposed final dividend.
statements and accounting estimates are based on
BUSINESS SEGMENTS reasonable and prudent judgment.
4. International Financial Reporting Standards, as
The Management of the company has determined the
applicable in Pakistan, have been followed in
operating segments based on the information that is
preparation of financial statements and any departure
presented to the Board of Directors of the company for
from there has been adequately disclosed.
allocation of resources and assessment of performance.
5. A Mission statement, Vision and overall Corporate
Segment performance is generally evaluated based on
Strategy for the company is prepared, adopted and
certain key performance indicators including business
reviewed as and when deemed appropriate by the
volume and gross profit.
Board.
6. The system of internal control is sound in design and
Based on internal management reporting structure and
has been effectively implemented and monitored.
products produced and sold, the company is organized
7. There are no significant doubts on the company’s
into the following operating segments:
ability to continue as a going concern.
a) Hosiery - This segment relates to the sale of socks &
8. There has been no material departure from the best
tights
practices of Corporate Governance, as detailed in
b) Yarns (Spinning & Yarn Dying) - This segment relates
the listing regulations.
to the sale of yarns
9. A summary of key operating and financial data of
c) Apparel – This segment relates to the readymade the company is annexed.
garments
10. Outstanding taxes and levies are given in the Notes
d) Other operating segments - This represents various to the Financial Statements.
segments of the company which currently do not
11. The management of the company is committed
meet the minimum reporting threshold stated in
to good corporate governance, and appropriate
the International Financial Reporting Standards.
steps are taken to comply with best practices.
These mainly include Domestic Sales, Energy, Yarn
Dyeing, Denim and Active Wear. 12. The company operates a contributory provident
fund scheme for employees and defined benefit
gratuity scheme for its management/non-
The details of the business segments of the company are
management employees. The value of investments
annexed in the Annual Report.
based as at Jun 30, 2021, are as follows:
CORPORATE AND FINANCIAL Provident Fund Rs. 92,369,196
REPORTING FRAMEWORK
STATEMENT OF COMPLIANCE
The company Management is fully cognizant of its
WITH THE CODE OF CORPORATE
responsibility as recognized by the Companies Act,
GOVERNANCE
2017, the Listed Companies (Code of Corporate
Governance) Regulations, 2019 issued by the Securities The company has fully complied with the requirements of

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