M/S DIAMOND METALS

BALANCE SHEET
FOR THE YEAR ENDED June 30, 2019

2019 2018 2017 2019 2018 2017

Note Rupees Rupees Rupees Note Rupees Rupees Rupees
CAPITAL ACCOUNTS FIXED ASSETS

Mr. Jabbar Hussain 1.1 150,849,064 165,241,022 154,946,535 Tengible Assets (W.D.V) 3 23,014,274 25,198,705 22,225,843

Mr. Muhammed Saeed 1.2 230,905 245,312 200,973

151,079,970 165,486,334 155,147,508

LONG TERM DEPOSITS 4 17,211,604 17,211,604 17,211,604

CURRENT LIABILITIES CURRENT ASSETS

Short term Borrowings 412,716,861 630,343,770 504,534,432 Stock-in-Trade 5 357,150,964 637,131,404 525,160,981

Trade Creditors/ other payables 215,486,859 183,337,975 154,447,089 Trade Debtors 154,317,291 124,284,469 150,301,586

Accrued & Other Liabilities 2 29,407,295 56,105,768 48,971,567 Advance Income Tax 79,167,807 79,135,495 59,960,742

657,611,015 869,787,513 707,953,088 Advance Sales Tax 3,612,360 53,516,138 10,433,304

Other Advances 1,580,000 87,472,647 60,785,500

Cash & Bank Balances 6 172,636,684 11,323,386 17,021,037

768,465,106 992,863,539 823,663,149

808,690,985 1,035,273,847 863,100,596 808,690,984 1,035,273,848 863,100,596

 M/S DIAMOND METALS
MANUFACTURING, TRADING AND PROFIT & LOSS ACCOUNT
FOR THE YEAR ENDED JUNE 30, 2019

2019 2018 2017

Note Rupees Rupees Rupees
Sales 1,098,206,300 2,661,980,722 2,091,867,895
Less: Sales Tax (130,790,550) (326,751,567) (275,993,093)
Net Sales 967,415,750 2,335,229,155 1,815,874,802

Less: Cost of Sales -9323% 7 (883,409,873) -91.32% (2,177,134,139) -93.23% (1,706,922,314) 94%

Gross Profit 84,005,877 8.68% 158,095,016 6.77% 108,952,488 6%

Administration & Selling Expenses 8 23,337,642 2.41% 47,654,895 2.04% 37,883,654 2.09%
Financial Expenses 9 62,981,903 6.51% 36,910,929 1.58% 22,473,098 1.24%
(86,319,545) -8.92% (84,565,824) -3.62% (60,356,752)

Net Profit before Tax (2,313,667) -0.24% 73,529,192 3.15% 48,595,736 2.68%

Income Tax for the year 12,092,697 1.25% 29,190,364 1.25% 18,158,748

Net Profit After Tax (14,406,364) -1.49% 44,338,828 1.90% 30,436,988 1.68%
 M/S DIAMOND METALS
STATEMENT OF CASH FLOWS
For the year ended June 2019

2018
Rupees

Cash flows from operating activities

Net Profit / (Loss) for the period before Tax 44,338,828

Adjustment for Depreciation -

Financial Expenses -

Operating Profit before changes in working capital 44,338,828

(Increse)/decrease in Current Assets

Stock-in-Trade 232,949,288

Trade Debtors (151,453,926)

Advances Income Tax (5,028,654)

Advance Sale Tax 61,403,624

(Decrease)/increase in Current Liabilities

Creditors, Accrued & Other Liabilities (227,931,336)

(90,061,004)

Financial Expenses Paid -

Net Cash form Operating Activities (45,722,176)

Cash flows from investment activities 10,657,147

Cash flow from financial activities

Short term Borrowings 108,670,026

 Capital Injection 15,984,000

Drawings & Taxes (79,840,364)

44,813,662

Net (decrease)/increase in cash and cash equivalents 9,748,634

Cash and cash equivalents at beginning of the year 4,867,746

Cash and cash equivalents at end of the year 14,616,380

 2017
Rupees

30,436,988

3,691,089

22,473,098

56,601,175

232,949,288

(149,870,136)

(5,028,654)

61,403,624

(227,931,336)

(88,477,214)

(22,473,098)

(54,349,136)

10,657,147

108,670,026
15,984,000

(68,808,748)
55,845,278

12,153,289

4,867,747

17,021,036
 Jul-18 Aug-18 Sep-18

Sui-Gas Purchase as per STR:

Domestic purchase:

Import Quantity 4,471,689 324,920 1,135,000

233,503,732 10,823,706 35,632,157
Import without S.Tax(including CD, RD)
2,208,704
25,187,119 7,309,629
Sale Tax paid on import

Domestic Sale:
196,196,685 132,840,950 150,599,930
Total

Sale RM excluding Sale tax 2,784,209 20,332,611 19,741,122

Sale DM excluding Sale Tax 167,552,951 96,411,976 111,555,277
Total Sale excluding sale tax 170,337,160 116,744,587 131,296,399
Sale Tax paid on RM Sale 212,541 777,499 507,938
Sale Tax paid on DM Sale 25,646,984 15,318,864 18,795,593
Total Tax. 25,859,525 16,096,363 19,303,531

196,196,685 132,840,950 150,599,930

 List Of Purchase and Sale According to Sale Tax Return
Oct-18 Nov-18 Dec-18 Jan-19 Feb-19

1,769,790 2,380,367 3,235,405 4,398,950 5,217,410

50,197,557 63,307,854 89,621,347 132,442,757 161,818,697

10,381,903 13,553,449 18,771,375 25,967,663 30,497,158

221,639,050 9,082,320 48,546,685 16,242,950 51,032,815

11,497,931 8,928,699 47,489,842 9,403,097 3,345,707

179,980,444 0 0 5,335,407 40,370,929
191,478,375 8,928,699 47,489,842 14,738,504 43,716,636
745,384 153,621 1,056,843 644,163 514,893
 29,415,291 0 0 860,283 6,801,286
30,160,675 153,621 1,056,843 1,504,446 7,316,179

221,639,050 9,082,320 48,546,685 16,242,950 51,032,815

 Mar-19 Apr-19 May-19 Jun-19 Total

22,833,904 22,833,904

4,650,995 1,572,875 2,530,565 1,918,890 33,606,856

151,926,772 58,372,681 92,440,993 72,653,576
1,152,741,829
26,341,920 10,422,602 15,214,715 11,589,990
197,446,227

192,523,530 15,561,665 37,779,496 26,160,224 1,098,206,300

-

5,925,751 3,257,452 36,976,635 25,309,724 194,992,780

160,725,191 10,490,795 0 - 772,422,970
166,650,942 13,748,247 36,976,635 25,309,724 967,415,750
511,334 58,998 802,861 850,500 6,836,575
 25,361,254 1,754,420 0 0 123,953,975
25,872,588 1,813,418 802,861 850,500 130,790,550

192,523,530 15,561,665 37,779,496 26,160,224 1,098,206,300

 Sale Tax Adjustable Working JUNE -2018 Sale Tax Working 2019-2020
S.tax Sale tax In S.Tax Paid at S.Tax Paid to S.Tax Adjusted In Total Adjusment S.Tax Balance S.Tax/Unit
Month KESC Unit Rate Sale Tax Rs. 4
/Unit Bill Import Nazir Bill From Import in Bill In KESC Payable

-
Stay Order

No. Particulars Amount Jul-2018 1,661,029 13 21,593,377 21,593,390 24,863,098 3,102,264 21,593,390 21,593,390 3,269,708

1 B/F 01-07-2017 0 Aug-2018 2,009,750 13 26,126,750 26,126,750 16,549,882 8,039,000 18,087,750 26,126,750 1,731,840

2 Sep-2018 1,934,290 13 25,145,770 25,145,783 4,601,352 7,737,165 6,333,192 14,070,357 -

3 Sale tax paid on scrap 70,903,196 Oct-2018 33,447 13 434,811 434,811 9,639,448 - 301,022 434,811 9,338,426 133,789

4 Nov-2018 18,820 13 244,660 244,660 5,914,720 169,379 244,660 15,083,767 75,281

Total S. tax adjustable 70,903,196 Dec-2018 14,750 13 191,750 191,750 6,063,120 132,749 191,750 21,014,138 59,001

Jan-2019 1,004,056 13 13,052,728 13,052,728 488,880 9,036,504 13,052,728 12,466,514 4,016,224

S. Tax adjust in Elec. Bills Till june -1 99,322,449 Feb-2019 1,245,724 13 16,194,412 16,194,412 - 11,211,516 16,194,411 1,254,998 4,982,895

Mar-2019 18,360 13 238,680 238,680 - 165,240 238,680 1,089,758 73,440

Advance Paid To Nazir Sindh High Court 15,776,165 Apr-2019 15,428 13 200,564 200,564 2,782,696 138,852 200,564 3,733,602 61,712

May-2019 13,472 13 175,136 175,136 - 121,248 175,136 3,612,354 53,888

Total - (12,643,088) Jun-2019 796,716 13 10,357,308 11,319,356 - 3,612,354 6,799,212 - 3,186,858

Total 8,765,842 113,955,946 114,918,020 70,903,196 18,878,429 70,903,196 99,322,449 72,595,105 12,643,088

Reconciliation

Carry forward in June-18 from KESC -

Certificate in hand june -19 -

Sale tax claimable from FBR -

Total Sale Tax adjustable -

12,643,088

Accured liability Sunny

EOBI 9,120
SSISE 31,200
Total 40,320
 Creditors & Other Pay
DIAMOND METALS

No. NTN #
1
2
4
5
6
7

Other payable
No. NTN #
1 1777312-1

1543137-1
Net payables
 Creditors & Other Payable

Particulars

MTC
AA Ship Breaker
Amwar Trading Company
M.H Dedhi
HQ FWO
Jabbar Steel

Total

Other payable
Particulars
sunny steel industry

KESC
KESC 235-B 4/Unit Payable
Jabbar Hussain
Total

Net payables
Amount

3,869,675
33,858,525
2,889,000
648,749
399,855
2770000

44,435,804

Amount
94,666,943

55,063,969 140000000

12,643,088 74335500

8,677,055 51020100
171,051,055

215,486,859
 Debtors/ Receivable
Diamond Metals

Debtors Receivables
No. NTN No. Particulars 2018
2 Ishtiaq Steel
3 Azhar Textile
HSJ
Superior Steel Mill
Nazir
United Impax
FF Steel
Total

Other Advances/Receivables
No. NTN No. Particulars
4 S.D Sunny Steel
5 S.D DHA Shahbaz
6 Jabbar Hussain
7 FWO Registration
8 S.D Cospolition
9 FWO Tender Fee
10
Total

Total
Amount
45,000,000
10,291,269
26,423,470
1,922,305
55,063,969
15,497,979
118,299
154,317,291

Amount
200,000 Jabbar Hussain 2016 56,135,500
480,000 Jabbar Hussain 2017 4,650,000
Jabbar Hussain 2018 13,550,000
300,000 74,335,500
400,000
200,000

1,580,000

155,897,291
 M/S DIAMOND METALS
NOTES TO THE FINANCIAL STATEMENTS
For the year ended June 2019

1 2019 2018
PARTNERS' CAPITAL ACCOUNTS Rupees Rupees
Names of Partners:
1.1 Mr. Jabbar Hussain:
Opening Capital 165,241,022 154,946,535
Capital Addition - -
Profit for the Year (14,391,958) 44,294,489
Drawing - (34,000,000)

150,849,064 165,241,024

1.2 Mr. Muhammed Saeed

Opening Capital 245,312 200,973
Addition Income FBR order - -
Profit For the Year (14,406) 44,339
230,905 245,312

2 Short Term Borrowings

Cash Finance 199,645,200 190,685,820
Runing Finance 162,938,985 106,602,349
FIM/ FATR 50,132,676 333,055,601
412,716,861 630,343,770
3 ACCRUED & OTHER LIABILITIES
 K.E.S.C Bill 19,043,958 47,413,597
Sui Gas Bill 209,210 1,095,442
EOBI 37,260 37,260
SESSI 65,520 65,520
Mark up payable 10,051,347 7,493,949
29,407,295 56,105,768

4 TANGIBLE FIXED ASSETS 2017

WRITTEN DOWN VALUE DEPRICIATION W.D.V
PARTICULARS As on Addition As on Rate For the As on
30.06.18 (Deletion) 30.06.19 % Year 30.06.19
Building 3,987,093 - 3,987,093 10% 398,709 3,588,384
Plant & Machinery 8,059,433 1,671,008 9,730,441 15% 1,459,566 8,270,875
Office Equipments 45,840 - 45,840 30% 13,752 32,088
Furniture & Fixture 89,677 - 89,677 15% 13,452 76,225
Motor Cycles 118,836 - 118,836 15% 17,825 101,011
Motor Vehicle 12,707,064 - 12,707,064 15% 1,906,060 10,801,004
Air Conditioner & Others 74,360 - 74,360 15% 11,154 63,206
Spectro Lab 116,402 - 116,402 30% 34,921 81,481
25,198,705 26,869,713 3,855,439 23,014,274
 2017
Rupees

154,555,984
15,984,000
30,406,551
(46,000,000)

154,946,535

154,536
16,000
30,437
200,973

192,956,569
124,281,163
187,296,700
504,534,432
41,360,774
1,127,108
37,260
65,520
6,380,509
48,971,171
 NOTES TO THE FINANCIAL STATEMENTS
For the year ended June 2019

2019 2018 2017

Note Rupees Rupees Rupees
4 LONG TERM DEPOSITS:
Long Term KESC Security Deposit 7,013,100 7,013,100 7,013,100
Long Term KESC System Development Charges 7,993,991 7,993,991 7,993,991
Long Term Deposit Sui Gas Bank Guarantee 1,800,000 1,800,000 1,800,000
Long Term Deposit Sui Gas Liniment 404,513 404,513 404,513
17,211,604 17,211,604 17,211,604

5 STOCK IN TRADE
Scrap 25,255,264 198,116,800 340,514,656
Finish Goods Serya 200,360,700 223,021,586 53,240,256
Finish Goods Rollable 100,035,000 196,383,018 360,635,357
Ferro Alloys 31,500,000 19,610,000 3,720,000
357,150,964 637,131,404 758,110,269

6 CASH & BANK BALANCES

Cash in Hand 171,489,075 7,243,243 4,566,411
Cheque in Hand - - 1,583,790
Cash at Bank: 1,147,609 4,080,143 10,870,836
172,636,684 11,323,386 17,021,037

7 COST OF SALES
Opening Stock 637,131,404 525,160,981 758,110,269
Purchases 482,666,276 1,888,836,085 1,105,754,011
Manufacturing Expenses 7.1 120,763,156 400,268,477 368,219,015
Closing Stock (357,150,964) (637,131,404) (525,160,981)
883,409,873 2,177,134,139 1,706,922,314

7.1 Manufacturing Expenses Unit-1

Power Bill 103,120,491 279,430,415 295,824,550
Sui Gas Bill 6,842,658 10,530,545 17,492,301
Lining Farmer 455,948 2,735,690 2,168,400
Quartz Powder 542,815 3,256,890 2,258,460
Boric Acid 309,373 1,856,240 1,796,065
Gas Expense 387,535 2,325,210 2,150,290
Molasis 308,827 1,852,960 2,671,740
Salica Sand 460,882 2,765,290 2,432,544
Brakes (Nozzels, Stupor) & Other 405,980 2,435,878 4,114,670
Greece 354,712 2,128,270 2,016,020
Wages For Furnace 613,993 3,683,960 5,798,871
Wages For CCM + Others 858,561 5,151,368 5,379,790
Thermo Couple Rod 316,542 1,899,250 2,456,410
Mobile Oil 526,493 3,158,960 3,596,225
Copper Mold Tube 244,624 1,467,745 1,958,630
Machanical Expense For Plant 392,808 2,356,850 5,088,600
Electrical Expense for Plant 409,354 2,456,123 4,046,580
Rent Expense 1,980,000 1,980,000 1,980,000
Repair & Maintanance of Plant 2,231,560 4,123,500 4,988,869
120,763,156 335,595,144 368,219,015
 NOTES TO THE FINANCIAL STATEMENTS
For the year ended June 2019

2019 2018
Note Rupees Rupees

7.2 Manufacturing Expenses Unit-2

Power Bill 11,052,567
Sui Gas Bill 9,119,573
Rolling Dies Sets 5,916,283
Fiber Bush 2,856,910
Welding Rods 2,356,810
Greece 1,850,400
Wages 8,456,125
Gas Expense 2,365,870
Water Expense 566,800
Copper Bush 1,960,230
Furnace oil 2,214,780
Mobile Oil 2,456,900
C- Oil 1,740,050
Other Machine Parts 4,865,320
Coal 1,246,800
Repair & Maintanance of Plant 5,647,915
- 64,673,333
 NOTES TO THE FINANCIAL STATEMENTS
For the year ended June 2019

2019 2019 2018 2018 2017

Note Rupees Rupees Rupees Rupees Rupees

8 ADMINISTRATION & SELLING EXPENSES Unit -1 Unit -2 Unit -1 Unit-2

Salaries to Staf 6 4,314,248 4,314,249 4,314,250 3,325,680 6,532,410

Telephone & Mobile Expenses 943,176 943,176 943,176 48,620 913,500

Electricity and Sui Gas Expenses 1,511,918 1,511,918 1,511,918 337,780 854,416

Social Security & Old age 807,840 807,840 807,840 425,520 1,251,360

Fee & Subscription 1,279,045 1,279,045 1,279,045 170,000 433,912

Travelling / Conveyance 2,452,000 - 3,572,941 - 2,259,730

Entertainment Expenses 1,075,680 - 1,075,680 610,250 1,282,704

Labour / Staf Welfare 1,263,980 1,263,980 1,075,680 1,850,600

Repair & Maintenance 914,200 914,200 875,230 1,536,516

Newspapers & Periodical 263,800 263,800 160,500 465,890

Fuel & Conveyance 1,120,450 1,120,450 845,670 1,280,560

Store Consumed 798,310 798,310 845,615 852,517

Security Charges 1,734,030 1,734,030 1,734,030 1,075,352 2,164,950

Water Expenses 1,150,600 1,150,600 78,320 1,150,600

Printing & Stationary 564,120 564,120 92,170 564,120

Frieght Inwards 1,215,680 1,215,680 940,350 1,732,560

Frieght Outwards 1,056,600 1,056,600 1,212,370 1,609,500

Generators Running & Maintenance 590,880 590,880 610,320 705,890

Postage and Telegram 245,170 245,170 140,280 345,180

Rent Expense 4,744,600 4,744,600 - 5,190,000

Medical & First Aid 845,618 - 845,620 545,160 1,215,650

Depreciation 3,855,439 - 4,227,138 - 3,691,089

32,747,384 10,590,258 34,240,028 13,414,867 37,883,654

9 FINANCIAL EXPENSES
Bank Charges 3,176,974 3,176,974 3,176,974 163,944

Markup on Borrowings 62,981,903 - 33,733,955 22,309,154

66,158,877 3,176,974 36,910,929 - 22,473,098

10 GENERAL

Figures have been rounded of nearest Rupee

 Amount Payment Of Income Tax 2018-19
Diamond Metals
Balance Sheet

Income Tax Working

No. Particulars

1 B/F 01-07-2018
2 Extra Tax U/S 113
3 On Cash Withdrawl
4 On Imports
5 On Electricity
6 Telephone Bills warid
7 Return
8 Tax Liability
9 Refund Adjusted
Total

Tax Paid 12,125,009

Previous 79,135,495
Total 91,260,504
Total Tax Payable (12,092,697)
Refund /adjusted -
Refundable 79,167,807
 Amount

79,135,495
-
220,384
9,363,933
2,540,692
-
-
(12,092,697)
-
79,167,807

###
###
###
###
###
###
 Cost Of Goods Sold Purchases
Import 9,572 50,427 482,666,276
opening stock 637,131,402 Other Local Purchase - #DIV/0! -
purchases 482,666,276 MTC purchase - -
less closing (357,150,964) Sale tax at Rollable -
Material Consumed 762,646,714 Sale tax at M.T.C -
Factory Over Head Gas+Elec - Sale Tax at Ferroalloyes -
Others - Clearing Charges 12,870 470
Total Manufacturing Cost 762,646,714 Custom Duty 12,870 -
production 35341.947 mton Regulatory Duty 12,870 -
32514.834+1686.188 Port Charges 12,870 870
Manufacturing Cost /Unit 22,239 Shipping Expense 12,870 1,600
Exise Duty 12,870 555
Transportation charges 12,870 500
37,131 12,999 482,666,276
 Bank Alfalah Diamond CF (01-) RF FIM

Balance as per Cash book 59,112,612 Payable June-19 - 59,112,612 -

Add Unpresented Cheques - Markup
Less Uncredit cheques - CF (01-) RF FIM
July-18 to June-19 7,356,398 -
Balance as per bank book 59,112,612 Payable June-19 1,989,568

Bank Al-Habib (CD) Diamond CF (01-7) RF FIM

Balance as per Cash book 258,302 Payable June-19 50,000,000 103,826,373 -

Add Unpresented Cheques - Markup
Less Uncredit cheques - CF (01-7) RF FIM
July-18 to June-19 14,290,537 9,427,531 3,253,317
Balance as per bank book 258,302 Payable June-19 2,149,522 2,943,677 -

pledge Istisna
Meezan (CD) Diamond 4937

Balance as per Cash book 38,351 Payable June-19 149,645,200

Add Unpresented Cheques - Markup
Less Uncredit cheques -
July-18 to June-19 13,935,455
Balance as per bank book 38,351 Payable June-19 1,409,011

199,645,200 162,938,985 -
NIB(1431) 20,327 Total Markup expense July-18 to Ju
BAH(CT) 127,413 Markup Payable 30-06-2019
MCB Site 1,412,367
Total Principle Payable 30-06-20
1,560,107
 FATR LBD
-
23,760,676 26,372,000 109,245,288
rkup -
FATR LBD -
1,720,744 2,711,131 11,788,273
940,525 619,044 3,549,137
-
-
FATR FE -
-
- 153,826,373
rkup -
FATR FE
10,286,790 37,258,175
- 5,093,199
-
-

149,645,200
rkup

13,935,455
1,409,011

23,760,676
p expense July-18 to June -19 62,981,903
up Payable 30-06-2019 10,051,347

nciple Payable 30-06-2019 412,716,861