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DANDOT CEMENT
COMPANY LIMITED |
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NOTES TO THE ACCOUNTS |
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FOR THE PERIOD ENDED SEPTEMBER 30, 2006 (un-audited) |
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1. |
These financial statements have been prepared
in accordance with the requirements of International Accounting Standard
(IAS) 34 "Interim Financial Reporting". The accounting policies
adopted in these accounts are the same as those applied in the preparation of
the preceding annual published accounts. |
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2. |
Figures
have been rounded off to the nearest thousand rupees and figures of previous
year have been rearranged wherever necessary to facilitate the
comparison. |
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3. |
CONTINGENCIES AND COMMITMENTS |
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Contingencies and Commitments are
unchanged since last published accounts except for commitments against
irrecocable letters of credit outstanding as at September 30, 2006 Rs. Nil (
June 30, 2006 Rs. 21.7 million) |
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September |
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September |
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2006 |
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2005 |
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Note |
(Rupees in thousand) |
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4 |
COST OF SALES |
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Raw materials consumed |
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4.1 |
50,227 |
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28,295 |
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Salaries, wages and benefits |
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37,871 |
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35,680 |
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Fuel, gas and electricity |
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131,653 |
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142,811 |
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Stores and spares |
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24,014 |
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6,032 |
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Rent, rates and taxes |
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1,266 |
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43 |
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Vehicle running and maintenance |
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3,164 |
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2,388 |
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Packing material |
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14,612 |
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14,502 |
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Clinker consumption |
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21,247 |
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- |
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Depreciation |
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23,793 |
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24,275 |
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Others |
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8,823 |
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7,829 |
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316,670 |
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261,855 |
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Adjustment of work in process |
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(16,599) |
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1,354 |
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Cost of goods manufactured |
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300,071 |
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263,209 |
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Adjustment of finished goods |
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(12,146) |
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70 |
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287,925 |
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263,279 |
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4.1 |
It includes Golden Handshake expense of
Rs.28.859 millions ( 2005: Rs. Nill ) |
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5. |
It includes Exchange Fluctuation loss
of Rs.11.110 million ( 2005: Exchange fluctuation income of Rs. 9.512
million). |
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6. |
DATE OF AUTHORISATION |
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These financial statements were
authorised for issue on October 21, 2006 by the Board of Directors of the
Company. |
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Statement under Section 241(2) of the Companies
Ordinance, 1984 |
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These Financial Statements have been
signed by two Directors instead of Chief Executive and one Director as the
Chief Executive is not in Pakistan for the time being. |
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A.SHOEB PIRACHA |
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M.TOUSIF PERACHA |
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DIRECTOR |
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DIRECTOR |
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