| DANDOT CEMENT COMPANY
LIMITED |
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| NOTES TO THE
ACCOUNTS |
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| FOR THE PERIOD
ENDED DECEMBER 31, 2005 (UN-AUDITED) |
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| 1. |
These financial statements have
been prepared in accordance with the requirements of International |
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Accounting Standard (IAS) 34
"Interim Financial Reporting". The accounting policies adopted in |
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these accounts are the same as
those applied in the preparation of the preceding annual |
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published accounts. |
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| 2. |
Figures have been rounded off to
the nearest thousand rupees and figures of previous year have |
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been rearranged wherever necessary
to facilitate the comparison. |
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| 3. |
CONTINGENCIES AND COMMITMENTS |
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Contingencies |
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There is no change in contingencies since last
audited published accounts |
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Commitments |
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Commitments in respect of
irrevocable letter of credit as on December 31, 2005 are Rs.27.16 million |
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(June 30, 2005: Nil). |
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December |
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June |
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2005 |
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2005 |
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| 4. |
OPERATING FIXED ASSETS |
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(Rupees in thousand) |
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Opening fixed assts at WDV |
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1,812,714 |
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1,911,135 |
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Additions |
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73,987 |
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9,115 |
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1,886,701 |
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1,920,251
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Less: |
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Depreciation |
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52,081 |
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107,536
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1,834,620 |
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1,812,714
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| 5. |
COST OF SALES |
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Second
quarter ended |
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Half
year ended |
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Dec. 2005 |
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Dec. 2004 |
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Dec. 2005 |
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Dec. 2004 |
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(Rupees in thousand) |
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(Rupees in thousand) |
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Raw materials consumed |
23,283 |
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18,724 |
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51,578 |
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40,455 |
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Salaries, wages and benefits |
35,620 |
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30,550 |
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71,300 |
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63,472 |
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Fuel, gas and electricity |
137,314 |
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146,620 |
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280,125 |
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288,867 |
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Stores and spares |
10,108 |
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9,265 |
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16,140 |
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17,216 |
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Rent, rates and taxes |
503 |
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108 |
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546 |
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175 |
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Vehicle running and maintenance |
2,776 |
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2,464 |
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5,164 |
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4,892 |
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Packing material |
15,113 |
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17,983 |
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29,615 |
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35,780 |
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Depreciation |
26,055 |
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25,922 |
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50,330 |
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51,711 |
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Others |
4,099 |
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7,018 |
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11,928 |
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11,245 |
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254,871 |
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258,654 |
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516,726 |
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513,813 |
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Adjustment of work in process |
5,404 |
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(4,064) |
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6,758 |
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(9,138) |
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Cost of goods manufactured |
260,275 |
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254,590 |
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523,484 |
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504,675 |
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Adjustment of finished goods |
(1,366) |
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(3,018) |
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(1,296) |
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(6,363) |
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258,909 |
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251,572 |
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522,188 |
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498,312 |
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| 6. |
Administration and General expenses includes
deferred cost amortized amounting to Rs. 20.164 |
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million (2004:Rs. 20.164 million). |
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| 7. |
Other income includes exchange gain amounting
to Rs.17.08 million ( 2004: Exchange
loss Rs. 6.27 million). |
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Half
year ended |
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Dec. 2005 |
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Dec. 2004 |
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(Rupees in thousand) |
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| 8. |
TRANSACTIONS WITH ASSOCIATED COMPANY |
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Expenses paid by associated company |
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261 |
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610 |
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Expenses paid on behalf of associated company |
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1,489 |
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Inventory received |
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1,742 |
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| 9. |
DATE OF AUTHORISATION |
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These financial statements were
authorised for issue on February 24,
2006 by the Board of Directors |
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of the company. |
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ABDUR RAFIQUE KHAN |
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A. SHOEB PIRACHA |
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CHIEF
EXECUTIVE |
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DIRECTOR |
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