MS AR 2018 (1)
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STATEMENT OF CASH FLOWS<br />
FOR THE YE<strong>AR</strong> ENDED JUNE 30, <strong>2018</strong><br />
Rupees Note <strong>2018</strong> 2017<br />
CASH FLOWS FROM OPERATING ACTIVITIES<br />
Cash generated from / used in operations 38. 1,953,567,791 (756,354,072)<br />
Net decrease in long-term loans to employees 7,533,459 1,142,685<br />
Net increase in long-term deposits (2,587,004) –<br />
Defined benefits paid (5,885,829) (5,504,109)<br />
Finance cost paid (517,684,178) (219,433,011)<br />
Workers’ profit participation fund paid (65,304,280) (68,013,042)<br />
Income tax paid (437,312,304) (224,664,034)<br />
NET CASH GENERATED FROM / USED IN OPERATING ACTIVITIES 932,327,655 (1,272,825,583)<br />
CASH FLOWS FROM INVESTING ACTIVITIES<br />
Payments for property, plant & equipment (2,205,109,816) (473,866,042)<br />
Proceeds from disposal of tangible fixed assets 2,158,500 2,641,480<br />
Profit received on term deposit receipts 23,108,723 18,812,847<br />
NET CASH USED IN INVESTING ACTIVITIES (2,179,842,593) (452,411,715)<br />
CASH FLOWS FROM FINANCING ACTIVITIES<br />
Repayment of long-term financing (31,712,571) (407,495,915)<br />
Proceeds from long-term financing 829,000,000 –<br />
Short-term loans from banking companies - net (436,535,304) 3,787,500,501<br />
Short-term loans from Directors & their relatives - net (37,082,301) (345,213,069)<br />
Proceeds from issuance of ordinary shares – 1,257,998,250<br />
Transaction costs – (12,340,105)<br />
Dividend paid (163,784,311) (613,166,100)<br />
NET CASH GENERATED FROM FINANCING ACTIVITIES 159,885,513 3,667,283,563<br />
NET DECREASE / INCREASE IN CASH AND CASH EQUIVALENTS (1,087,629,425) 1,942,046,265<br />
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YE<strong>AR</strong> 2,338,800,897 396,754,632<br />
CASH AND CASH EQUIVALENTS AT THE END OF THE YE<strong>AR</strong> 39. 1,251,171,472 2,338,800,897<br />
The annexed notes from 1 to 52 form an integral part of these financial statements.<br />
Khurram Javaid<br />
Chief Executive Officer<br />
Muhammad Zafar Iqbal<br />
Chief Financial Officer<br />
Muhammad Mubeen Tariq Mughal<br />
Director<br />
Annual Report <strong>2018</strong><br />
93