Karachi: Nestlé Pakistan Limited has released its financial statement for the fiscal year 2024, revealing significant changes in its equity, liabilities, and asset structure. The report, dated for the fiscal year ending in 2024, provides an insight into the company's financial health and strategy.

The company's equity and liabilities are balanced at PKR 90,355.54 million, as Nestlé Pakistan continues its operations in the equity market category. According to the report, the authorized capital remains steady at 75,000,000 ordinary shares at PKR 10 each, totaling PKR 750 million. The issued, subscribed, and paid-up capital also holds firm at PKR 453.50 million.

The financial statement shows a share premium in the capital reserve of PKR 249.53 million and a general reserve in the revenue reserve of PKR 280 million. Accumulated profits in the revenue reserve have increased from PKR 17,600.02 million in the previous fiscal year to PKR 22,598.89 million.

Non-current liabilities have decreased from PKR 7,885.44 million to PKR 6,685.52 million. This reduction is primarily due to the absence of long-term finances, which were previously secured at PKR 1,420.35 million. Meanwhile, lease liabilities and long-term employee benefits stand at PKR 1,550.58 million and PKR 5,134.94 million, respectively.

Current liabilities have risen from PKR 57,160.39 million to PKR 60,088.11 million. The increase is mainly attributed to a surge in trade and other payables, which grew to PKR 53,007.53 million. Short-term borrowings secured have jumped from PKR 200 million to PKR 2,000 million, despite a reduction in running finance under mark-up arrangements.

On the asset side, non-current assets have slightly increased to PKR 36,593.40 million. Property, plant, and equipment showed a modest rise to PKR 29,407.23 million, while capital work-in-progress also saw an increase to PKR 2,955.25 million. Intangible assets experienced a notable jump to PKR 58.59 million from the previous year's PKR 15.78 million.

Current assets have climbed to PKR 53,762.14 million, with stock-in-trade increasing to PKR 31,762.46 million. Trade debts have also risen to PKR 2,741.75 million, and cash and bank balances have reached PKR 3,940.96 million. However, tax refunds due from the government have decreased from PKR 9,041.78 million to PKR 6,421.01 million.

According to information available from the Pakistan Stock Exchange (PSX), Nestlé Pakistan's financial outlook reflects its strategic focus on optimizing both its equity and liability management while maintaining robust asset growth. This balance sheet adjustment indicates the company's efforts to sustain its market position in a competitive environment.

Overall, the financial statement of Nestlé Pakistan for 2024 underscores the company's commitment to maintaining a stable financial structure while navigating the challenges of the market.