Karachi: Bela Automotives Limited has released its unaudited interim financial results for the half-year period ending December 31, 2024. This announcement, made on February 8, 2025, provides a detailed overview of the company’s financial standing, including statements of financial position, changes in equity, and cash flows. These reports have been submitted in accordance with the Pakistan Stock Exchange (PSX) regulations and will be available through the PUCARS system.
The report indicates that the authorized capital of Bela Automotives remained unchanged at 60.00 million ordinary shares, maintaining a value of 60.00 million rupees. The issued, subscribed, and paid-up capital also held steady at 58.00 million rupees. However, the company’s capital reserves showed a slight decrease, dropping from 121.18 million rupees in June 2024 to 120.45 million rupees by the end of December 2024.
Revenue reserves experienced a decline, falling from negative 82.21 million rupees in June to negative 89.52 million rupees by the end of the half-year. Consequently, the total equity and liabilities decreased from 241.47 million rupees in June 2024 to 240.56 million rupees by December.
According to information available from the Pakistan Stock Exchange (PSX), the company’s non-current liabilities, specifically deferred liabilities, saw a marginal increase from 2.05 million rupees to 2.08 million rupees. Current liabilities, including trade and other payables, accrued markup, and short-term borrowings, rose from 142.45 million rupees to 149.55 million rupees.
The company’s current assets remained relatively stable, totaling 88.23 million rupees at the end of December, slightly up from 88.05 million rupees in June. Notable components of current assets include stores, spares, and loose tools valued at 34.86 million rupees, alongside stock in trade worth 28.32 million rupees.
In terms of cash flows, Bela Automotives reported a net loss before levies and income tax of 8.05 million rupees, compared to 7.92 million rupees in the previous period. After adjustments, the operating loss before working capital changes stood at 2.90 million rupees. The company experienced a net cash outflow from operating activities amounting to 2.93 million rupees, but this was offset by net cash inflows from financing activities, notably short-term borrowings, which amounted to 2.95 million rupees.
Overall, Bela Automotives managed to increase its cash and cash equivalents from 252,279 rupees at the start of the period to 270,305 rupees by the end of December 2024. Despite the challenges reflected in the revenue reserves and net loss, the company’s financial commitments and operations continue to be supported through effective financial management strategies.