Karachi: Pakistan PVC Limited, a prominent player in the polymer industry, has released its statement of financial position as of September 30, 2024, indicating a marginal increase in both current liabilities and current assets. The document reveals a nuanced financial landscape for the company as it navigates through a challenging economic environment.

According to the statement, Pakistan PVC Limited's current liabilities have increased to 297.49 million rupees from 294.41 million rupees as recorded on June 30, 2024. This increase is primarily attributed to a rise in short-term borrowings, which escalated to 47.96 million rupees from 46.40 million rupees, alongside accrued interest and markup which saw a modest increase to 114.82 million rupees from 113.91 million rupees.

On the other side of the balance sheet, the company’s current assets have risen to 17.67 million rupees from 14.82 million rupees. This increase is largely due to a significant rise in other receivables, which climbed to 4.08 million rupees from 0.84 million rupees, and tax refunds due from the government, which grew to 7.16 million rupees from 6.84 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), the company’s issued, subscribed, and paid-up capital remains stable at 149.58 million rupees. However, the accumulated loss has slightly increased to 420.69 million rupees from 420.32 million rupees, reflecting ongoing challenges in the operational environment.

Despite these challenges, Pakistan PVC Limited maintains a surplus on the revaluation of fixed assets, which stands at 243.91 million rupees, slightly down from 245.36 million rupees on June 30, 2024. The company continues to hold non-current assets, including property, plant, and equipment valued at 251.82 million rupees, showing a slight decrease from 253.39 million rupees.

The financial statement also highlights the company's commitment to managing its long-term financing obligations, with the current portion of long-term financing remaining steady at 32.99 million rupees. The provision for taxation, net, is reported at 9.54 million rupees, reflecting a minor increase from 9.50 million rupees in the previous quarter.

Overall, the financial results illustrate Pakistan PVC Limited's ongoing efforts to manage its financial resources and liabilities amid a dynamic economic climate.