TPLCorp

Quarterly Report
September 30, 2021

Company Information 03
Geographical Presence 04
Directors' Report 05

Standalone Financial Statements

Standalone Condensed Interim Statement of Financial Position 22
Standalone Condensed Interim Statement of Comprehensive Income 23
Standalone Condensed Interim Statement of Changes in Equity 24
Standalone Condensed Interim Cash Flow Statement 25
Notes to the Condensed Interim Financial Statements 26

Consolidated Financial Statements

Consolidated Condensed Interim Statement of Financial Position 34
Consolidated Condensed Interim Statement of Comprehensive Income 35
Consolidated Condensed Interim Statement of Changes in Equity 36
Consolidated Condensed Interim Cash Flow Statement 38
Notes to the Consolidated Condensed Interim Financial Statements 39

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02
TPL Corp

Vision

Disrupt. Innovate. Create Value.

Mission

To use disruptive technology to maximize stakeholder return and achieve sustainable growth for our portfolio companies.

Vision

Integrity | Entrepreneurial Spirit | Value Creation

Team Work | Diversity | Gender Equality

Geographical Presence

Karachi
20th Floor, Sky Tower - East Wing,
Domen City, HC-3, Abdul Sattar Edhi Avenue,
Block No. 4, Clifton, Karachi.

Shahrah-e-Faisal Office
19-B, S.M.C.H.S, Near Roomi Masjid
Shahrah-e-Faisal, Karachi.
Phone: +92-21-34390300-05

Lahore Office
Tower 75, 4th Floor, L Block,
Gulberg III, Kalma Chow,
Main Ferozpur Road, Lahore
UAN: +92-42-111-000-300

Multan Office
House No. 2, Shalimar Colony,
Haider Street, Bosan Road
(near Toyota Multan), Multan
UAN: +92-61-111-000-300

Islamabad Office
10th Floor (South) ISE Towers,
55-B Jinnah Avenue, Blue
Area, Islamabad.
UAN: +92-51-111-000-300
Fax: +92-51-2895073

Faisalabad Office
Office No. 2, 4th Floor,
Mezan Executive Tower,
Liaqat Road, Faisalabad.
UAN: 041-111-000-300,

Hyderabad Office
2nd Floor Plot #15/5,
Main Auto Bhan Road Railway
Cooperative Housing Society, Hyderabad.

Peshawar Office:
C-7 & C-8 3rd Floor, Jasmine Arcade,
Fakhr-e-Alam Road,
Peshawar Cantonment, Peshawar

Korangi Office
Plot # 1-A, Sector # 24, Near Shan Chowrangi
Korangi Industrial Area, Karachi
Phone: +92-21-34390300-05

04
TPL Corp

DIRECTORS' REPORT

On behalf of the Board of Directors of TPL Corp Limited, we are pleased to present the condensed interim financial statements and a performance review of the Company for the quarter ended September 30th, 2021.

1. ECONOMIC OUTLOOK

During Q1FY22, Pakistan's economy moved progressively along the stabilization and adjustment path, surpassing the aftermath of Pandemic. Structural adjustment process picked up momentum with the IMF's forecast of Pakistan's growth at 4% for FY22. Whereas, State Bank of Pakistan stated that all three major sub-sectors of Pakistan's economy (agriculture, industries and services) are envisaged to support the growth momentum in FY22 on account of Government's pro-growth policies consequently, the GDP anticipated by SBP is slightly at higher side i.e. 4.8%.

On the foreign inflow and tax collection front, stellar growth has been observed on account of initiatives taken by the Government of Pakistan and Federal Board of Revenue. Foreign inflows from overseas Pakistan show a cumulative inflows of USD 2.7 billion in the past 13 months via Roshan Digital Accounts (RDA), posting a stellar growth of 21% (MoM) in September 2021. Foreign Direct Investment in Pakistan also clocked in at USD 1.3 billion during Q1FY22 as compared to the investment of USD 311 million registered in the same period of last fiscal year, translating into staggering growth of 323% (YoY). FBR; by streamlining the tax collection process has been able to collect PKR 1.39 trillion in the first quarter exceeding target by PKR 186 billion and increasing by 38% as compared to the same period of previous year.

The economy seems to be progressive in the upcoming quarters of FY22 with steady normalization of global merchandise trade, improved investors sentiments and consumer confidence, coupled with continued rollout of vaccination programme. Furthermore, GoP's continuous support towards economic stability through reduced cost of doing business, improving export facilitation scheme, rationalization of custom and regulatory duties alongside IMF's stabilization program will further improve Pakistan's economic outlook. However, the economic growth path would remain turbulent on account of challenges being posted by economic recovery, higher inflation reading especially on account of rising global oil prices, high import payments and elevation of exports in FY22. But it shall be allayed by expenditure reforms and the Government's commitment to halt direct borrowing from SBP.

2. FINANCIAL HIGHLIGHTS

The Group achieved a consolidated revenue of Rs. 1,178 million during the quarter ended 30 September 2021 showing a decline of 13% as compared to the corresponding period primarily attributable to the decline in revenue from TPL Life Insurance and TPL Properties. Cost of sales decreased by Rs. 173 million while administrative expenses of the group increased by Rs. 56 million in comparison to the corresponding period. On an overall level, the group show a reduction in loss after tax for the quarter by Rs. 78 million as compared to the corresponding period whereas, the Group reported loss per share of Rs. 0.77 as compared to Rs. 0.93 in the corresponding period respectively.

3. Group Performance

A brief review of different business segments of the Company is as follows:

a. TPL Trakker Limited

Business Performance - Standalone

On the coat-tails of economic recovery, TPL Trakker posted a topline growth of 19%. Coupled with the cost optimization measures undertaken by the Company, improvement in the financial results of the Company was witnessed by 75%, relative to the corresponding period last year.

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TPL Corp

QE Sep 30, 2021	QE Sep 30, 2020
--- Rs. In 000's ---
Turnover - net	471,868
---	---
Gross Profit	156,503
Operating Profit / (Loss)	44,355
Loss before Tax	(22,981)
Loss after Tax	(25,397)

Business Performance - Consolidated

With the inclusion of the results of Trakker's UAE-based subsidiary, Trakker Middle East LLC, the consolidated turnover stood at Rs. 526.8 million and the consolidated loss was Rs. 35.8 million, depicting an improvement of 15% and 69% respectively, over the corresponding period last year.

QE Sep 30, 2021	QE Sep 30, 2020
--- Rs. In 000's ---
Turnover - net	526,811
---	---
Gross Profit	190,217
Operating Profit / (Loss)	37,346
Loss before Tax	(33,358)
Loss after Tax	(35,774)

Future Outlook - Connected Car & IoT

Although the market showed signs of improvement because of ease in Covid-19 restrictions, other economic challenges have arisen which has led to some uncertainty in the Auto sector. The USD PKR parity along with fuel and other commodities price increase has reduced the pace of normalization. TPL Trakker continuing on its strategy of diversification in product ranges has started offering flexible payment plans (Monthly, Quarterly and Bi-annually payment plans) to its customers. The strategy of having alliances to create different combination of products with other industry players also continues. All this has helped in minimizing the impact of market challenges faced.

State Bank of Pakistan has revised the Prudential Regulations (PR) for car financing and put severe restrictions on financial limits and finance burden criteria. The net impact of this change in prudential regulations and banks' counter strategies will be known in the mid or end of the 2nd quarter of FY2021-2022. TPL Trakker has also taken the counter measures and started penetrating more in micro finance and leasing sectors.

The microchip production has started improving but the pace of improvement has been lower than expected. As per the production plans of different Automobile OEMs, they are foreseeing an increase in production by December 2021 and normalcy by March 2022. Subsequent to the normalization, we expect a sharp increase in monthly volumes in our tracking and auto hardware business.

Future Outlook - Digital Mapping & Location Services

Digital Mapping & Location Services business unit will continue focus on Product development on the Digital Maps Platform for Pakistan. The flagship product under focus in FY21-22 will be the revamp and launch of the TPL Maps App as the Maps App for Pakistan. The upcoming quarter will see development of the new UI and UX of the proposed app. The aim is to focus on hyper local reach, connections, partnerships to bring to together the startup and entrepreneurial sector to service the end user.

Enterprise sales' emphasis will remain on the LBS Platform to continue the trend for revenue growth. Strategy includes acquisition of high value prospective clients in the e-com, logistics, financial services, and rapid delivery sector. Reseller partnerships will also be locked with notable organizations from the Telecom and IT sector.

With DART enabled for international markets with integration with HERE maps, we hope to see some traction through international sales. The pricing has been devised in USD to cater to international clientele and digital marketing campaign will be launched in the coming months. Current local prospective pipeline includes big name companies from various industries like distribution, logistics, services, rapid delivery, e-com last mile or Financial Service Institutions.

The current data points acquired stand at 5,306,508. TPL Trakker will continue partnering with organizations with similar data collections for their customer addresses and locations, reinforcing our data collections with respect to entries and accuracy.

A multi-tiered approach factoring product development, direct business development, innovations, and partnerships is expected to drive stable and sustainable growth for the rest of the year.

b. TPL Insurance Limited

During the quarter, the Company reported Gross Written Premium of Rs. 1,073 million Vs Rs. 866 million in the preceding year (including Window Takaful Operations), registering 24% growth compared to prior year. Reduction in discount rates boosted consumer financing resulting in increase in motor sales which reported increase of 81% YoY. As a result, motor insurance portfolio reported the GWP at Rs. 706 million compared to last year of Rs. 602 million. The Company continued its growth journey in Non-motor segment. Total non-motor GWP increased from Rs. 264m in prior year to Rs. 366m in the current quarter, registering growth of 39%. The Company reported loss before tax of Rs. 23 million (Q1 2020: Rs. 6 million), including results of Window Takaful operations, mainly attributed to increase in expenses attributed to investment in digitization and development of infrastructure.

Future Outlook

State Bank has kept the interest rates low for over a year creating demand in the consumer financing sector especially in auto financing despite a slight increase in interest rate in the latest monetary policy. However, SBP has made some changes in regulations to discourage auto financing for imported vehicles and maximum tenure of auto financing has been reduced from seven to five years. Further, minimum down payment for car financing is raised from 15pc to 30pc.

Although these steps may affect growth but we anticipate that the interest rates would stay at lower levels and would keep supporting the industry growth and would create new opportunities for insurance penetration predominantly in the manufacturing and house building projects. Also, we do not anticipate that these measures would affect our revenue streams for the current calendar year due to existing sales funnels.

During 2021-22, our strategy is to continually innovate to utilize digital paradigm to redefine insurance. During the course of past few years, we capitalized on our digital assets and utilize rich data to ensure most hassle free policy issuance, claims and renewal process. The Company plans to continue its growth path in non-motor segment to diversify its portfolio and increase its market share. We are confident that these measures will enable the Company to achieve sustainable profitable growth in the years to come.

c. TPL Properties Limited

The consolidated revenue of the company has significantly reduced on account of cessation of rental revenue stream due to conclusion of sale transaction of Centrepoint property in FY21. The company has reported consolidated revenue of Rs. 15 million in contrast to revenue of Rs. 176.5 million in the corresponding period whereas, the reported loss for the period stands at Rs. 26.4 million. However, the Company expects profits once construction starts on two projects (One Hoshang and Technology Park) and formation of REIT fund, within FY22.

Future Outlook

The quarter has been a challenging one for the business as critical milestones associated to One Hoshang ground breaking and REIT formation were not achieved due to regulatory bottlenecks. Development work on the Technology Park and The Mangrove (40 acres in Korangi) is progressing well, with design phases in the former and master planning process kicked off in the latter. Project execution readiness for the construction of One Hoshang is there, with the appointment of Project Managers, Hill International and Contractors, Total Construction chosen for the project. The design of One Hoshang has also been shortlisted for the New London Awards 2021, as submitted by our lead architect Squire & Partners.

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The company's wholly owned subsidiary, TPL RMC Ltd, continued to actively work on multiple fronts, including SECP approvals and commitments from financial institutions for the first close. Being Pakistan's first hybrid REIT Fund, the process is taking more time, but once in place will enable TPL to rapidly build on, not only the projects in hand, but a number of new opportunities that we have in our pipeline.

As described in our Annual Director's Report to shareholders, TPL Properties long term value creation will crystallize with the evolving business structure. TPL Properties, subsequent to the formation of TPL REIT Fund I, will have four core pillars as its business model. Firstly, it will own a significant portion of the REIT based on the contribution of land and project developed to date. This REIT will provide tax free dividends to The Company over the coming years. Secondly, it will continue to develop these three projects and more for which it will receive development fees. Thirdly, as owner of the RMC, it will receive dividends as the RMC receives management fees for REIT. Finally, it will continue to own TPL Property Management Services whereby more projects managed in the future will provide additional earnings to the Company.

d. TPL Life Insurance Limited

This quarter has been quite instrumental in strategic direction of the business post change in business strategy in June 2021. Earlier, the Company was primarily pursuing both Health and Life insurance businesses. It has now strategized to follow Life Insurance and Health Insurance (Retail only) as its core developing businesses in future with Retail and Digital Channels being main contributors to the topline.

The sustainable impact of this development is reflecting in bottom line of the P&L where exponentially increasing losses have been reigned and bottom line is showing improvement vis-a-vis same period last year. Due to material shift of business from Corporate Health sector, which had major share of the book and had an average deal size higher than life insurance, the topline has shown negative growth (69%).

The Gross Written Premium (GWP) during the quarter ended September 30, 2021 is PKR 82.63 million which has declined by 69% as compared to PKR 263.76 million for the corresponding period last year.

The Company's Takafull line of business contributed 23% of the total premium revenue and we are expecting this to increase in the coming year due to an inherent need for Shariah based Takafull solutions in both the retail and corporate sectors.

The Company paid total health and life claims of PKR 205.90 million during the quarter, with health claims to the tune of PKR 173.04 million and life insurance claims of PKR. 32.86 million.

During the quarter, Rs. 325 million has been received against share capital from parent company, TPL Corp Limited to meet the solvency requirements. The shares are in the process of issuance.

The Company has a reinsurance arrangement with Hannover Re having awarded "AA-" rating by Standard & Poor's. This will provide diversification of risk and depth to the underwriting capacity of the Company.

The Company has maintained an IFS (Insurer Financial Strength) rating of Company A- (Single A minus) by PACRA.

The loss after tax for the quarter was PKR 51.83 million compared with PKR 94.76 million in the same period last year. Major contributors are the health claim expenses which showed unprecedented surge on account of Covid-19 related health protocols which increased the general treatment costs substantially. Further, increment in the risk based solvency margin for health and life business as well as associated costs for life and health insurance operations were major contributors of losses. Company is constantly reviewing its major cost centers and realign business / operational strategies to reign in major cost heads. As a strategic focus, Company has reviewed its corporate business strategy and has opted not to pursue Corporate Health Business. Current book will be allowed to complete its term with no impact on existing clients. However it will continue flourishing its retail and digital health insurance solutions. This will have a positive impact in future on company's expenses and overall P&L.

TPL Corp

Future Outlook

Life insurance industry is facing various challenges, the overall regulatory environment is quickly changing e.g. introduction of new corporate agent regulations where restrictions have been placed on the minimum allocation and commission on ULIPs and introduction of draft regulations for digital insurers. These will have long lasting impact on the business. Other significant development is the imposition of provincial sales taxes on the business of life and health insurance as well as on commission of insurance agents. In a country like Pakistan having one of the lowest insurance penetrations in the world, the support from the Government for the development of insurance sector will play a key role in increasing penetration and resolving the current issues being faced. Company, along with other life insurance companies, has filed constitutional petition and writ petition respectively in High Court of Sind and Lahore High Court challenging the levy of sales tax on life and health premium.

Due to its strategic decision of not pursuing Corporate Health Insurance business, the Company's topline showed a decline as revenues from corporate health insurance are significantly higher than corporate life insurance. However the bottom line impact of such strategy is positive and company experienced and will show positive impact of this decision in coming quarters.

TPL life, being a front runner in tech led solutions, is ideally positioned to capitalize on the future market distribution models. With digital platforms in place, focus will now be on aggressive go-to market strategies and increase awareness about insure tech solutions.

For the retail line of business, the Company will focus on increasing its digital footprint and will explore partnerships with digital platforms which will enable accelerated penetration as well as diversification of risk. Alternate retail channels, Bancassurance and fintech channels will be core development areas in coming months.

The Corporate business will focus on balancing portfolio profitability by regularly reviewing claims experience and retaining profit bearing corporate relationships. As mentioned earlier, current corporate health insurance risk will be tapered off till Q2 2022. Company intends to retain clients in corporate life insurance domain especially in profitable buckets and review its loss making clients portfolio on regular basis.

The Directors are confident that with the continuous evolution in products, services and insurtech platforms, TPL life will carve its niche among the existing club of life insurance players.

e. TPL E-Ventures

During the quarter, TPL e-Ventures (TPLE) undertook assessment of a number of deals in the HealthTech, FinTech, e-Commerce, LogiTech and eco-distribution spaces. The opportunities pipeline for TPLV arises on the back of strong relationships of the team and the Group. Founders or their advisors usually seek TPL as a preferred partner due to the wide support and network the Group provides, in addition to capital.

Three of these opportunities were further negotiated and term sheets have been agreed. Final due diligence is underway. One of these opportunities was better suited to be invested from TPL Properties and the other two are a healthcare platform and a fintech startup, initially focused on advance salaries.

TPLV existing investments have been performing well as per both operational metrics and the valuation step-up reflected in recent fund raising rounds. Rider experienced a growth of 126 percent in volume and a 141 percent growth in revenue for the quarter compared to prior year same quarter, and has established itself in five new cities within Pakistan. TelloTalk's monthly average users increased to 402,000 users, a fourfold increase since February 2021. It has integrated payments on the platform in partnership with JS Bank, awaiting State Bank of Pakistan approval. TPLV made follow on investments in these portfolio companies as they went through fund raising rounds. For TelloTalk, a follow on investment of USD 100,000 was made in the company's pre-Series A Round. TPLV participated in Rider's Seed Funding round with an additional investment of PKR 9.8 Mn.

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Moreover, TPL e-Ventures continues to reinforce its strategic alliances within the startup ecosystem. During the quarter, it participated in Amazon Web Services, Inc. (AWS) "Activate Program". The program will benefit the portfolio companies and other recommended local startups to avail credit for AWS up to USD 100,000; coupled with Startup Mentorship, Free Consultation on Technical Roadmap and Access to Global Investor Network. TPL e-Ventures team also participated in the events "Innovation Matchmaking" organized by NIC Karachi that provided a platform for investors to interact and learn about new start-ups and the "Largest pitch contest" that featured start-ups from the Middle East & Africa region organized by Unicorn events.

f. TPL Security Services (Private) Limited

As the business model of TPL Security Services (Private) Limited revolves around manning of physical guards; it has been affected by the impacts of Covid-19. During the quarter, the Company has reported a negative top line growth of 2%, however the Company is continuously striving to explore new business opportunities to improve its financial performance.

Future Outlook

Although Covid-19 affected business stream of the Company, we are determined to expand our business and revenue streams. Some of the key initiatives undertaken are restructuring of the business development unit of the Company, plan to launch electronic security systems and targeting CPEC projects for a sustainable and long term growth of the company. All of the initiatives combine would put the company on consistent growth trajectory in the longer run.

CREDIT RATING

The Pakistan Credit Rating Agency Limited (PACRA) has assigned a long-term entity rating of "A" (Single A) and short-term entity rating of A1 (A one) to TPL Corp Limited. These ratings indicate a stable outlook and high credit quality.

ACKNOWLEDGEMENT

We would like to thank the shareholders of the Company for the confidence they have reposed in us. We would also like to thank the regulators specially State Bank of Pakistan, Securities and Exchange Commission of Pakistan, Federal Board of Revenue and the Pakistan Stock Exchange for providing guidance and continuous support. We would also express our sincere thanks to the employees, strategic partners, vendors, suppliers and customers for their support in pursuit of our corporate objectives.

On behalf of the Board of Directors:

TPL Corp

ڈائریکٹرز رپورٹ:

لی پی ایل کارب کے بورڈ آف ڈائریکٹرز کی جانب سے ہم چلتی 30 ستمبر، 2021 کو ختم ہونے والی سرماں کے حوالے سے محمد شدہ میوری مالیاتی گوشوار سے اور کمیٹی کی کارکردگی کا جائزہ پیش کرتے ہیں۔

اقتصادی نتفاظر:

مالی سال 2022 کی بھی سرماں کے دوران، پاکستان کی معیشت، و بائی مرض کے بعد پیدا ہونے والی صورتحال کو پیچھے چھوڑ دیتے ہوئے مستحکم انداز میں ترقی کی راہ پر گامزن ہوئی۔ آئی ایم ایف کی جانب سے مالی سال 2022 میں 4% کی شرح سے پاکستان کی ترقی کے حوالے کی جانے والی پیش گوئی کے ساتھ اسٹرکچرل ایچ سٹنٹ کے عمل نے رفتار کبھی، جگہ اسٹیٹ ویک آف پاکستان کے بیان کے مطابق، پاکستان کی معیشت کے نتیجوں اہم ذیل شعبہ جات (زراعت، صنعت اور سرورز) کو حکومت کی پروگرام کو پالیسیز کے حوالے سے مالی سال 2022 میں ترقی کی رفتار میں معاونت کرنے والے حوالے کے طور پر سمجھا گیا ہے، جس کے نتیجے میں اسٹیٹ ویک آف پاکستان کی جانب سے متوقع ہی ڈی پی کمی قدر بلند نہیں 4.8% کی سطح پر ہے۔

حکومت پاکستان اور فیڈرل بورڈ آف ریونیو کی جانب سے کے جانے والے اقدامات کی وجہ سے غیر ملکی ترسیلات زر کی آمد اور حصول ریکس کی وصولیابی کے حماؤ پر شاندار نمودار اضافہ کیا ہے۔ سٹنٹ رپورٹ پاکستانوں کی طرف سے پاکستان میں آنے والے ترسیلات زر، ستمبر 2021 میں (MoM) 21% کی شاندار نمودار اضافے کا اندراج کرتے ہوئے، روش ڈیشنز کا دامن (RDA) کے ذریعے گزشتہ 13 ماہ میں 2.7 ملین امریکی ڈائریکٹر میومی آمد کو ظاہر کرتے ہیں۔ پاکستان میں مالی سال 2022 کی بھی سرماں (Q1FY22) کے دوران براہ راست سرماں کا ریومی (YoY) 323% کی شاندار اور جیران کن نمودار اضافے کے ساتھ گزشتہ مالی سال کی اسی مدت کے متناہی میں 1.3 ملین امریکی ڈائریکٹر میومی کمیٹی۔ ایف پی آر ریکس کی وصولی کے عمل کو ہموار کر کے بھی سرماں میں گزشتہ سال کی اسی مدت کے متناہی میں 38% تک اضافے کے ساتھ 1.39 لریلیبن روپے جمع کرنے میں کامیاب رہتا ہو جو ف سے 186 ملین روپے سے زیادہ ہے۔

مالی سال 2022 کی آنے والی سرماں یوں روشوں میں ملکی معیشت عالمی تجارت کے معمول پر آنے، سرماں کا رول کے خیالات میں بہتری اور صارفین کے اعتماد اور کو رونا کے وبائی مرض سے بچا ہے لیے چیئرمین پر گرام پر مسلسل اطلاق کے ساتھ ترقی کریں دکھائی دے رہی ہے۔ اس کے علاوہ کاروبار کرنے کی لاگت میں کی، برآمدت میں سہولیات کی فراہمی کی انہیں میں بہتری، کشم اور قوادہ و ضوابط کے فرائض کی موزوںیت کے عمل کے ذریعے معاشی اشخاص کے لیے حکومت پاکستان کی مسلسل معاونت اور ساتھ ہی آئی ایم ایف کا اسٹیٹا نیزیشن پر گرام پاکستان کی معاشی صورتحال کو مزید بہتر بنا نے گا۔

تاہم، اقتصادی و معاشی بحالی کے حوالے سے وریش مسائل، خاص طور پر عالمی سطح پر چل کی بڑھتی ہوئی قیمتوں، و رامات کی بڑی ادائیگیوں اور مالی سال 2022 میں برآمدت میں اضافے کی وجہ سے افراد کو زر کی بلند شرح کے باعث ملک کی اقتصادی ترقی، مسائل و مشکلات کا شکار رہی۔ ہر چند یہ کہ اخراجات میں اصلا حات اور اسٹیٹ ویک آف پاکستان سے براہ راست قرض کے حصول کو روکنے کے حوالے سے حکومت پاکستان کے عزم اور عہد کے ذریعے ان مسائل کو حل کیا جا نے گا۔

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TPL Corp

2- اہم مالیاتی نکات

گروپ نے بنیادی طور پر نیچے ایلی لائف انشورنس اور نیچے ایلی پراپریئر سے حاصل ہونے والی آمدنی میں کی کے سبب گزشتہ سال کے متناہلے میں 13% کی کی کوخاہر کر کے ہونے 30 ستمبر 2021 کو ختم ہونے والی سرماہی کے دوران 1,178 ملین روپے کی مجموعی آمدن حاصل کی۔ فروننگی کی لاگت 173 ملین روپے تک کم ہوگی جبکہ گروپ کے انتظامی اخراجات میں گزشتہ سال کی اسی مدت کے متناہلے میں 56 ملین روپے تک کا اضافہ ہوا۔ مجموعی سطح پر گروپ نے سی مالی (کوائر) کے حوالے سے گزشتہ سال کی اسی مدت کے متناہلے میں 78 ملین روپے تک کا بعد ازلکس خسارہ خاہر کیا، جبکہ گروپ نے گزشتہ سال کے 0.93 روپے کے متناہلے میں با قرض 0.77 روپے کی خصص کا خسارہ رپورٹ کیا۔

3- گروپ کی کارکردگی

کمپنی کے مختلف کاروباری شعبہ جات کا مختصر جا نزو رن ذیل ہے:

a- نیچے ایلی ٹریکریلیٹ

کاروباری کارکردگی - اخراجی

نیچے ایلی ٹریکریلے معاشی بحالی کی معاونت کے موقع پر 19% کی بہترین نمونہ کارکردگی کیا۔ لاگت کو بہتر بنانے کے حوالے سے کمپنی کی جانب سے کے جانے والے اقدامات کے ساتھ بھی کمپنی کے مالیاتی نتائج میں گزشتہ سال کی اسی مدت کے متناہلے میں 75% بہتری دیکھی گئی۔

QE Sep 30, 2020	QE Sep 30, 2021
395,730	471,868
101,525	156,503
(519)	44,355
(92,696)	(22,981)
(99,710)	(25,397)

کاروباری کارکردگی - مجموعی

ٹریکریلے کے حوالے کی میں موجود ذیلی ادارہ، ٹریکریلے ایلی ایلی کی توقع کی شمولیت سے گزشتہ سال کے متناہلے میں 15% اور 69% کی بہتری خاہر کر کے ہونے کے با قرض 526.8 ملین روپے اور مجموعی خسارہ 35.8 ملین روپے پر رہا۔

Quarterly Report

QE Sep 30, 2020	QE Sep 30, 2021
457,223	526,811
132,075	190,217
(16,642)	37,346
(110,214)	(3,358)
(117,228)	(35,774)

متفق کی پیش بینی - فسک شدہ کار اور IoT

اگر چہ COVID-19 کے حوالے سے عائد پابندیوں میں زری کی وجہ سے مارکیٹ میں بہتری کے آغاز کا ہمرہ ہو، جس میں ہم دیگر ایسے معاشی مسائل پیدا ہو گئے جن کی وجہ سے آئو سیکر نے یقینی کا شکار ہو گیا ہے - امریکی ڈالر اور پاکستان روپے میں کہانییت کے ساتھ قبول اور دیگر ایٹاس کی قیمتوں میں اضافے نے معاملات کے معمول پر آنے کی رقم کو قدرے کم کر دیا ہے - لی فی ایلن ڈرکر نے اپنی پراڈ کٹ کی رینج میں اضافے کی حکمت عملی کو سلسلہ جاری رکھتے ہوئے اپنے صارفین کو قیم کی واپس ادا کیجیے کے رعا بینی رزم شرائط کے حامل منصوبوں (باہر، سرماں، ششماں ادا کیجیوں کے منصوبے) کی چیکش کرنا شروع کردی ہے - اس کے علاوہ فی فی ایلن ڈرکر نے افسٹری کے دیگر اداروں کر داروں کے ساتھ مختلف پراڈ کٹ کا احترام بتانے کے لیے شراکت داری کاملی بھی جاری رکھا ہوا ہے - ان تمام امور سے ادار کو مارکیٹ میں درپیش مسائل کے اثرات سے خود آڑھا ہو نے اور ایٹیں کم کر نے میں مدد ملی ہے -

اسلیٹ پیک آف پاکستان سے کاڈز یوں کی فائرنگ کے حوالے سے پروڈکشنل ریگولیشنز (PR) کو دوبارہ تیار کیا ہے اور مالیاتی حدود اور مالی بھیجوی ایلیٹ پر شدید پابندیاں عائد کی ہیں - اسلیٹ پیک کی جانب سے جاری کردو پروڈکشنل ریگولیشنز اور اس حوالے سے بیچوں کی جوابی حکمت عملی کے اثرات کے بارے میں مالی سال 22-2021 کی دوسری سرماں کے وسط یا آخر میں پیچھے چلے گا - لی فی ایلن ڈرکر نے جوابی اقدامات بھی کے ہیں اور مائیکرو فائرنگ اور لیزنگ سیکرز میں مزید داخل ہونا شروع کردیا ہے - مائیکرو چیپ کی تیاری میں بھی بہتری آنا شروع ہو گی ہے تاہم اس کی رقم کو قیم سے قدرے کم رہی ہے - مختلف آئو موبائل OEMs کے بیدارواری منصوبے دسمبر 2021 میں اضافے اور مارچ 2022 کے معمول پر آنے کی تو قیم کر رہے ہیں - ہم ان معاملات کے معمول پر آنے کے بعد اپنے ٹریکنگ اور آئو ہارڈ پیٹر کے کاروبار کے بابانہ ٹیم میں تیزی سے اضافے کی تو قیم کر تے ہیں -

متفق کی پیش بینی - ڈسکیبل میپک اور لوکشن سرورز

ڈسکیبل میپک اینڈ لوکشن سرورز برنس، پاکستان میں ڈسکیبل میپس پر پراڈ کٹ کی ڈیم لینے پر توجہ مرکوز رکھنے کا عمل جاری رکھے گا - مالی سال 22-2021 میں زیر فورا ہم ترین پراڈ کٹ کو بحال کیا جا سکتا ہے کہ ایٹوں کے لیے میپ ایپ کے طور پر فی فی ایلن ایپ میپ ایپ متعارف کرائی جا سکتے ہیں - آنے والی سرماں میں تجز و ایپ کے لئے UI اور UX کی تیاری کا عمل مشاہدہ ہے - اس کے لیے ایٹوں اور لوکشن سرورز کے بارے میں اضافے کے بارے میں اضافے کے بارے میں اضافے کے بارے میں اضافے کے بارے میں اضافے کے بارے میں اضافے کے بارے میں اضافے کے

آمدنی میں اضافے کے رنجان کے تسلسل کو برقرار رکھنے کے لیے LBS پلیٹ فارم پر انٹرپرائٹل کے عمل پر زور دیا جاتا رہے گا۔ ادارے کی حکمت عملی میں
ایک کام، لائٹنگس، فائنل سرورز اور ریپڈ ڈبلیو ری ٹیکر کے اعلیٰ اور بہترین ٹیکر کا ٹکٹ کا حصول شامل ہے۔ کیلی کام اور آئی ٹی کے شعبہ جات کے قابل ذکر
اداروں کے ساتھ بھی شراکت داری کا عمل معطل رہنے ہو جائے گا۔

HERE نشون کے ساتھ انضمام سے جین الاقوامی مارکیٹس کے لیے DART کو فعال کرنے کے عمل کے ساتھ نہیں امید ہے کہ ہم جین الاقوامی فروختوں
کے ذریعے بیکوز پیش رہی ہیں گے۔ جین الاقوامی کاٹنٹس کے تقاضوں کی تکمیل کے لیے محفوظ یا نہیں امریکی ڈالر میں کیا گیا ہے؟ کہو آئے والے مہینوں
میں ڈسکیٹل مارکیٹنگ ہم کا آغاز کیا جائے گا۔ موجودہ مقامی و متوقع پائپ لائن میں ڈسٹری بیوٹن، لائٹنگس، سرورز، نیو تریل، ایک کام لاسٹ، کل پایا نیا تی
خدمات کے اداروں میں مختلف صنعتوں کی بڑی کمیٹیوں کے نام شامل ہیں۔

موجودہ حاصل کردو ڈیزائن لائن 5,306,508 پر موجود ہے۔ ٹی پی ایل ڈیکٹر، ان اداروں سے شراکت داری کا عمل جاری رکھے گا جو اپنے کمزور کے چوں
اور لوکشنز کے حوالے سے اسی طرح کے کوائف کو منع کر نے اور ساتھ ہی اندراجات نیز درحقی کے حوالے سے ٹی پی ایل ڈیکٹر کے ڈیزائن لائن کے استعمال کو ترجیح
دیں گے۔ پراڈ کٹ ڈیوٹیمنٹ، کاروباری براہ راست ترقی، جدت پر مشتمل امور اور شراکت داریوں جیسے مومن پر مشتمل کثیر اچھی نظر نظر سے بھی سائوں
میں منظم اور پاکیدراتی کی امید ہے۔

b ٹی پی ایل انٹرپرائٹل

اس سر مانی کے دوران کمیٹی نے گزشتہ سال کی اسی مدت کے 866 ملین روپے کے مقابلے میں (شمول دفعہ ویتا فل آپریشنز) جیسے سال سے 24 فیصد
اضافے کا اندراج کر کے ہو نے 1,073 ملین کا مجموعی تقریری پر مبنی رپورٹ حاصل کیا۔ رجا تی زخوں کی شرح میں کی نے صارفین کی جانب سے کی جانے
والی فائنگ میں اضافہ کیا، چچا موٹریل میں اضافے سے 81% YoY کا اضافہ رپورٹ کیا گیا۔ اس کے نتیجے میں موٹریل میں اس پر رپورٹ فولیو نے GWP
گزشتہ سال کے 602 ملین روپے کے مقابلے میں 706 ملین روپے رپورٹ کیا۔ کمیٹی نے نان موٹریل کے اس کے لیے اس کی ترقی کا سر جاری رکھا۔ مجموعی طور پر
نان موٹریل GWP، 39% اضافے کا اندراج کر کے ہو نے گزشتہ سال کے 264 ملین روپے بڑھ کر موجودہ سر مانی میں 366 ملین روپے ہوگیا۔ کمیٹی
نے 23 ملین روپے کا عمل (حصول خسارے کا اندراج کیا 2020 6:Q1 ملین روپے)، جس میں دفعہ ویتا فل آپریشنز کے نتائج شامل ہیں، جو بالخصوص
ڈسکیٹا نیز نشین اور افرا اسٹرکچری ڈیوٹیمنٹ میں کی جانے والے سرما یا کاری میں استعمال ہونے والے افرا جات میں اضافے سے منسوب ہیں۔

مستحق ہیں:

اسٹیٹ پیک آف پاکستان نے موجودہ مالیاتی پالیسی میں شرح سود میں ہونے والے اضافے کے باوجود کئی مومناٹنگ بالخصوص آئو فائنگ کے شعبہ میں
طلب میں اضافے کے ساتھ ایک سال کی مدت کے لیے شرح سود کو کم خطرناک ہے۔ تاہم اس ٹی پی نے درآمد شدہ کا زون کے حوالے سے آئو فائنگ کی
سہولت کی حوصلہ فنی کر کے ہونے لئے اور ہو سہولتا میں بیکوز ہولیاں کی ہیں اور آئو فائنگ کی زیادہ سے زیادہ مدت سات سال سے کم کر کے پانچ سال کروی گئی
ہے۔ مزید برآں، کار فائنگ کی کم از کم 15pc سے بڑھا کر 30pc کروی گئی ہے۔

TPL Corp

Quarterly Report | 15

بر چند یہ کہ ایسے اقدامات ترقی پر اثرات مرتب کر سکتے ہیں تا ہم، ہم مودگی شرح کو پکچل سلی پر رکھے جانے کی توقع کریں گے اور اس صنعت کی ترقی کی بہر وقت معاونت کر تے ہوئے اشتراک کی با نصوص مینوفیکچرک اور باؤس ہولڈ پر انٹیکس میں سرائیت کے لیے نئے مواقع پیدا کریں گے۔ علاوہ ازیں، ہمیں قطعی انداز و نہیں ہے کہ موجودہ نظر فخر کی وجہ سے کے جانے والے یہ اقدامات موجودہ کیلئے رسال کے حوالے سے نہاری آمدنی کے مشتمل کو متاثر کریں گے۔

سال 22-2021 کے دوران نہاری حکمت یہ ہے کہ اشتراک کی نئی تعریف کر نے کے لیے ذہنکیش چراؤا ہم کو استعمال کرتے ہوئے جدت کے مشتمل کو برقرار رکھا جائے۔ گزشتہ چند سالوں کی مدت کے دوران، ہم نے اپنے ذہنکیش سرما یہ جات پر اپنا سرما یا بگا یا ہے اور یہ پتہ نہیں ہوکر سے ہر ایا کسی اشتراک، کچھ اور تجدید کے عمل کو پکچلی بنانے کے لیے ذہنکا کچھ پر استعمال کیا ہے۔ کبھی اپنے پر ت فلی کو متوجہ بنانے اور اپنے بارہ کتب تہذیب میں اضافے کی غرض سے تان موڑیں کہ اس سٹرک و جاری رکھنے کا ارادہ رکھتی ہے۔ ہمیں نہیں ہے کہ کے جانے والے یہ اقدامات، کبھی کو آئندہ سالوں میں منظم منافع بخش نمونہ حاصل کرنے کے قابل بنا نہیں گے۔

c- نی بیل ایل پر ایم فیز لینڈ

مالی سال 2021 میں بیٹی پر ایک پر ایم نی کی فروخت کے عمل کی تکمیل کی وجہ سے کر ایہ داری سے حاصل ہونے والی آمدنی بند ہونے کی وجہ سے کبھی کی مجموعی آمدنی میں نمایاں کی آتی ہے۔ کبھی نے گزشتہ سال کی اسی مدت میں حاصل ہونے والی 176.5 ملین روپے کی آمدنی کے متناہی میں اس سال 15 ملین روپے کی مجموعی آمدنی رپورٹ کی ہے، جبکہ اس مدت کے دوران رپورٹ کردو خسارہ 26.4 ملین روپے پر ہے۔ تاہم کبھی کو مالی سال 2022 میں اپنے دو پر انٹیکس (دن ہوفیکل اور نیشنل اوٹی پارکر) پر ٹھیراتی کام کے شروع ہونے نیز REIT فٹڈ کے قیام سے منافع جات کی توقع ہے۔

مستقبل بینی:

بیس ماہی کاروباری لحاظ سے مشکلات و مسائل سے دو چار رہی ہے، کیوں کہ دن ہوفیکل کی گر اڈ کر بریکنگ اور REIT کے قیام سے منسلک اہم ترین سیک میل قواعد و ضوابط کے حوالے سے ماہر کردو کا و نوں کی وجہ سے حاصل نہیں ہو سکے۔ نیشنل اوٹی پارکر اور دوی سیکر وو (کوئی بھی 40 ایڈز) پر ہونے والی ترقیاتی امور خوش اسلوبی سے تکمیل کی جانب کا مزین ہیں۔ جس میں سب سے پہلے ذہن اکن کے مراحل کھل کے لیے اور ماہر پلانٹک کا آغاز بعد میں کیا گیا۔ دن ہوفیکل کی تغیر کے حوالے سے پرا جیکٹ فجر، بل انٹرنیشنل اینڈ کنٹرکٹرز کی تقرری کے ساتھ اس پرا جیکٹ کے حوالے سے منتخب شدہ مجموعی تغییرات کے ساتھ پرا جیکٹ پر عمل درآمد کی تیاری کھل ہے۔ ہمارے آرکیکٹ، اسکوائر اینڈ پارٹرز کی جانب سے جمع کردو دن ہوفیکل کے ذہن اکن کو نیو لندن ایوارڈ 2021 کے لیے بھی منتخب کیا گیا ہے۔

کبھی کا کمل طور پر ذیلی ادارہ، نی بیل RMC لینڈ، مختلف محاذوں، شمول ایس ای بی بی کی منظور یوں نیز فرسٹ کلوز کے حوالے سے مالیاتی اداروں کی جانب سے کے جانے والے مہدہ مزم کے حوالے سے سلسلہ فعال انداز میں کام کر رہا ہے۔ پاکستان کے پہلا بارہ رڈ REIT فٹڈ ہونے کی حیثیت سے، اس عمل میں مزید وقت درکار ہے، تاہم ایک بار تکمیل کے بعد، یہ نی بیل ایل کو تیزی کے ساتھ مصرف موجودہ پر انٹیکس بلکہ ساتھ ہی نہاری پائپ لائن میں بڑی تعداد میں موجود ہے۔ مواقوں کی تغیر کے قابل ہو جائے گا۔

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خصوص یا فٹکان کے لیے بہاری سالا نہر ایئر کیمرز رپورٹ میں بیان کردہ مسودہ کے مطابق، فی پی ایل پراپر نیز کی طویل مدتی و بلیوگری ایشن، ابھرے ہوئے کاروباری اسٹریمگر کے ساتھ واقع اور میاں ہو جاۓ گی — فی پی ایل REIT فٹک کے قیام کے بعد، فی پی ایل پراپر نیز کے چار بنیادی سٹوں ہوں گے۔

سب سے اولین، بیز میں اور آج دن تک پرا جیکٹ کے تر قیاتی امور میں زرتھاون کی بنیاد پر REIT کے اہم حصے کی کلیت کا حامل ہوگا — آنے والے سالوں میں یہ REIT، کینی کوٹکس فری منافع مقصود فراہم کرے گا — دوسری بات کہ وہ ان جیکوں پر اچکشن کو تیار کرے گا، جس کے لیے وہ تر قیاتی فیس وصول کرے گا — تیسری اہم بات کہ یہ RMC کی کلیت کا حامل ہونے کے ناکے، یہ REIT کے حوالے سے RMC کی انتظامی فیس وصول کرے گا — آخری بات کہ یہ فی پی ایل پراپر کی کیفیت سرور کی بالکل حیثیت کو جاری رکھے گا، چاہے مستقبل میں منظم کتے جاے اور طویل پر اچکشن کینی کو اضافی آمدن فراہم کریں گے۔

d — فی پی ایل لاک انٹرمنٹ لینڈ

یہ سالانہ جون 2021 میں کاروباری حکمت عملی میں تہذیبی کے بعد کاروبار کی اسٹریمک کی ایئر کشن کے تعیین میں اجنابی اہم رہی ہے — اس سے قبل کینی بنیادی طور پر ایلیٹا اور لاک انٹرمنٹ، دو نوں شعبہ جات میں کاروباری امور کی چیزوں کو کرتی تھی — اس نے اب لاک انٹرمنٹ اور ایلیٹا انٹرمنٹ (صرف ریشل) کی چیزوں کو کرنے کی حکمت عملی طے کی ہے، کیوں کہ مستقبل میں ریشل کے ساتھ اہم ترین کاروباری امور اور ڈیکیشنز کیمیز سر فہرست معاویین رٹراکٹ داروں میں شامل ہیں۔

فی ایئر ایل کا ابتدائی، اس ترقی کے متحکم اثرات کا عکاس ہے، جس میں تیزی سے بڑھتے ہوئے شمارے، نقصانات حاوی رہے ہیں تاہم اس کا ابتدائی، گزشتہ سال کی ایک مدت کے مٹا، بے میں بہتری کو ٹھا بر کر رہا ہے — کارپوریت ایلیٹا کیمرز (جو کبھی کا ایک اہم جزو تھا اور اس کی اوسط ڈیل کا ٹھہ لاک انٹرمنٹ سے زیادہ تھا) سے کاروباری کی مادی فتحی کی بہر سے اس کی تاپ لائن لے گئی نمونہ (69%) ٹھا بر کی ہے۔

30 ستمبر، 2021 کے اختتام کی سالانہ کے اختتام کے دوران جمہوری تقریری پرمکیم (GWP)، 82.63، 82.63 ملین روپے ہے، جس میں گزشتہ سال کی ایک مدت کے 263.76 ملین روپے کے مٹا، بے میں 69% کی کی واقع ہوئی۔

کینی کے ٹھہ لائن سے متعلقہ کاروباری امور نے جمہوری پرمکیم آمدنی کا 23% حصہ لیٹرکیا اور ہم آنے والے سال میں ریشل اور کارپوریت دو نوں شعبہ جات میں شریح اصولوں پر مبنی ٹھہ لائن سلوٹرز کے فطری تقاضوں کی بہر سے، اس میں اضافی کی تو کچھ کر رہے ہیں۔

کینی نے سالانہ کے دوران جمہوری طور پر ایلیٹا اور لاک کیمرز کے عوض 205.90 ملین روپے کی ادائیگی کی، جس میں ایلیٹا کیمرز 173.04 ملین روپے اور لاک انٹرمنٹ کیمرز 32.86 ملین روپے بلیت کے تھے۔

سالانہ کے دوران سالا ہنسی کے تقاضوں کو پورا کرنے کے لیے بنیادی، ابتدائی کینی، فی پی ایک کارپ لینڈ سے حصص کے سرمایہ کے عوض 325 ملین روپے وصول کے لئے ہیں — یہ حصص اجراء کے مراحل میں ہیں۔

Quarterly Report | 17

کمپی
Standard & Poor's کی جانب سے AA ریٹنگ کے حامل ادارے Hannover Re کے ساتھ دو بارہ میں کے انتظام و انحرام کی حامل ہے۔ کمپی کی اخراج ایٹنگ کی صلاحیت کو ریپبلن رسل اور دوررس فیصلوں میں معاونت و تحرُّم کو رکھا۔

کمپی نے PACRA کی جانب سے تقویض کردو A (سنگل اے، بانس) آئی ایف سی (اشور و نینس اشر ملنہ) کی ریٹنگ کو برقرار رکھا۔

اس سال میں بعد ازمجھول ریکس ہونے والا خسارہ، گزشتہ سال کی اسی مدت کے دوران ہونے والے 94.76 ملین روپے کے متناہلی میں 51.83 ملین روپے تھا۔ اس میں اہم کردار بیلٹو کلچر پر آنے والے اخراجات نے کیا، جس نے COVID-19 سے متعلقہ بیلٹو پروٹوکول کے حوالے سے غیر معمولی اضافہ کیا گیا، جس سے ملازمت کی ہمویں لاگت و اخراجات میں خاطر خواہ اضافہ ہوا۔

مزید برآں، بیلٹو اور لاکف کے کاروبار کے لیے رسل پمپنی سا اونٹسی مارچن میں اضافہ فیز لاکف اور بیلٹو اشورنس آپریشنز کے حوالے سے متعلقہ اخراجات کے سبب ہونے والے نقصان میں پڑھنے کی بات چیت کی ہو گی۔ یہ کی لاکت و اخراجات کے حامل مراکز کا مسلسل جائزہ لے رہی ہے اور پڑھنے کی بات چیت کی ہو گی۔ اس میں نے اپنی حکمت عملی کے تحت توجہ مرکوز کر کے بھی اپنے کی اخراجات کی ہوسکتی ہے اور کارپوریت بیلٹو پرنس کو آنے کے بڑھانے کی خواہش کا اظہار کیا ہے۔ موجودہ کلاکس کو متاثر کے بغیر موجودہ کیس کو اپنی مدد میں کر کے اس کے ریل اور ڈس کیبل اور ڈس کیبل کے اخراجات اور ہمویں لی این ایل پیشت اثرات مرتب ہوں گے۔

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لاکف اشورنس اخراجی مختلف مسائل کا سامنا کر رہی ہے۔ ہمویں طور پر ضابطہ کار اداروں کا ماحول تیز کی کے ساتھ تہہ یل ہو رہا ہے۔ جیسے نے کارپوریت ایجنٹ کے قواعد کو متعارف کر لیا جاتا ہے، میں نے صرف کم از کم تقویض اور ULIPs پر کہیں پر پایہ ہیاں ہا کر دی گئی ہیں بلکہ ساتھ ہی ڈس کیبل پر کر کے لیے مسودہ جاتی ہے اور ہم چیل رفت، لاکف اور بیلٹو اشورنس کے کاروبار اور اشورنس کے ساتھ گان کے کہیں پر پر صوبائی بیلٹو ٹیکسز کا اطلاق ہے۔ پاکستان جیسے ملک میں جو بیلٹو اشورنس کی کم ترین شرح کا حامل ہے، اس میں اشورنس کے شعبہ کی ترقی کے لیے حکومت کی جانب سے کی جانے والی معاونت، اشورنس کی سرائیت کو پڑھانے اور موجودہ مسائل کو حل کرنے میں کلیدی کردار ادا کرے گی۔ کمپی نے دیگر لاکف اشورنس کی بیلٹو کے ساتھ مل کر معزز عدالت مالی سند سے اور معزز عدالت مالی اداروں میں لاکف اور بیلٹو پر یقین پر ہا کر کے جانے والے بیلٹو ٹیکسز کو پہنچ کر کے ہونے والا ترتیب ایک آئینی درخواست اور رٹ پبلیشن دائر کی ہے۔

کمپی کی جانب سے کارپوریت بیلٹو اشورنس کے کاروبار کو آنے کے بڑھانے کی فیصلہ کی وجہ سے، کمپی کی بالا تی سرخ نے تیز کی کا اظہار کیا ہے کہوں کہ کارپوریت بیلٹو اشورنس سے حاصل ہونے والی آمدنی کارپوریت لاکف اشورنس سے بہت زیادہ ہیں۔ تاہم ڈس کیبل پر اس کے اثرات مثبت رہے اور کمپی آنے والی سہاڑی ریشروں میں اس فیصلہ کے مثبت اثرات خاہر کرے گی۔

TPL Corp

تہیںنا لوتی کے لحاظ سہولیات کی فراہمی میں صف اول کا کردار ادا کرنے والے ادارہ، فی پی ایل لاکف نے مستقبل کے مارکیٹ ڈائمری پیشنما ڈاکٹر پر سرما یا کاری کرنے کے لیے کام شروع کردیا ہے۔ ڈاکٹر پلیٹ فارمز کی تعمیب کے ساتھ، اب ادارے کی توجہ جارحا نظر چلے سے مارکیٹ میں جانے اور انشور ٹیکسلو شنز کے بارے میں آ گاہی کو بڑھا نے کی جا ب مرکوز رہی گی۔

ریخیل کے کاروبار کے حوالے سے کہیں اپنے ڈاکٹر پلیٹ فارمز کے بڑھا نے پر توجہ مرکوز رکھتے ہوئے اپنے ڈاکٹر پلیٹ فارمز کے ساتھ شراکت داری کرے گی، جو نہ صرف اسے مارکیٹ میں تیزی کے ساتھ رسا ئی فراہم کریں بلکہ نقصان کے خدشات (رسک) کو بھی تہہ یل کریں۔ شہادل ریخیل کی نظر میں بیکا شورش اور فن ٹیکس کو نظر آئے والے مہینوں میں ترقی کے اہم ترین مراکز ہوں گے۔

کارپوریت کاروباری توجہ جیمز کے تجربات کا باقاعدگی سے جائزہ لینے اور کارپوریت تعلقات پر مبنی منافع کے ذریعے پر رٹ فولیو کے لئے کو متوازن کرنے پر مرکوز ہو گی۔ جیسا کہ پیلڈ درج کیا گیا ہے کہ سال 2022 کی دوسری سال (Q2 2022) تک موجودہ کارپوریت نیا تقدر انشورنس رسک کو بند کردیا جائے گا کہیں اپنے ان کا کش کو کارپوریت لاکف انشورنس کے دائرہ کار با نصوص منافع جاتی سہولیات میں شامل کرنے اور نقصان کا باعث بننے والے کا کش کے پُرٹ فولیو کا باقاعدہ بنیاد پر جائزہ لینے کا ارادہ رکھتی ہے۔

ڈائمری کنٹرز پر لاکش میں ہونے والی مسلسل بہتری، سرورز اور انسر ٹیک پلیٹ فارمز سے پرامید ہیں۔ فی پی ایل لاکف، لاکف انشورنس کے اپنے موجودہ ہم عصروں میں اپنا منظر متقا م بنائے گی۔

8 - فی پی ایل ای-2000

سہالے کے دوران، فی پی ایل ای-2000 نے نیا تقدر ٹیک فن ٹیک، ای کامرس، لا کی ٹیک اور ایکو ڈائمری چون اسمیسر میں ہونے والی متعدد ڈیلر کا تنمیئر لگایا۔ فی پی ایل وی کے حوالے سے مواقع، ہم اور گروپ کے مابین مضبوط تعلقات کی بنیاد پر پیدا ہوتے ہیں۔ گروپ کی طرف سے سرما یا کے ساتھ فراہم کی جانے والی سپورٹ اور نیٹ ورک کی وجہ سے ماکان اور ان کے شیبران ہموی طور پر فی پی ایل کو اپنے پارٹر کے طور پر ترجیح دیتے ہیں۔

ان مواقع میں سے تین پر مزید گفت و شنید ہو گی تھی اور شرائط وضوابط کی شیٹ پر بھی با ہم رضا مند خا بر کردی گئی تھی۔ حتی امور مخیل کے مراحل میں ہیں۔ ان مواقعوں میں سے ایک بہترین موقع، فی پی ایل پر ایرڈیز میں سرما یا کاری کا کیا جانا اور ویکر دو میں نیا تقدر ٹیک پلیٹ فارم اور فن ٹیک اسٹارٹ اپ ہے، جو ابتدائی طور پر ایڈوائس بلز پر کی طرف اپنی توجہ مرکوز کے ہوئے ہے۔

فی پی ایل وی کی موجودہ سرما یا کاری آپریشن مینرکس اور ویلیوائنس اسٹیپ - اپ، دو نوں مماذوں پر بہترین کارکردگی کا مظاہرہ کر رہی ہے، جو حالیہ فنٹر پر ٹیک راڈ نذر سے خا ہر ہوتی ہے۔ رائیڈ رکواس سہالی میں گزشتہ سال کی اسی سہالی کے متنا بلی میں ہم میں 126 فیصد کی نمواہوا آمدن میں 141 فیصد کا اضافہ ملا اور اس نے خود کو پاکستان کے پانچ سے شہروں میں مخظم کیا۔ کبھی ٹاک کے مابا نا و سلا صارفین کی تعداد فروری 2021 کی تعداد سے چار گنا بڑھ کر 402,000 ہو گئی۔ اس نے اسٹیٹ پیک آف پاکستان کی منظوری کے منتظر بھی اس پیک کے ساتھ شراکت داری کر کے پلیٹ فارم پر ادا کیجیوں کو

Quarterly Report | 19

فلمک کیا ہے - لی پی ایل وی نے فنڈر بریک راؤ ٹرڈ کے دوران ان پورت فولیو کی حاشیکیت میں سرما بیاگری کی کمل جروی کی - نیلی ٹاک کے حوالے سے
کمٹی کے پری میر بز A راؤ ٹرڈ میں 100,000 امریکی ڈائری سرما بیاگری کی کی گئی - لی پی ایل وی نے 9.8 ملین روپے کی اضافی سرما بیاگری کے ساتھ
رائیڈر کے سیڈ فنڈر کا راؤ ٹرڈ میں حصہ لیا -

مزید برآں، لی پی ایل وی - ویچرز، اسٹارٹ اپ ایک سٹم میں رہتے ہوئے اپنے امریکی اکادریوں کو مزید تقویت دینے کا عمل جاری رکھتے ہوئے
ہے - سرما بیاگری کے دوران اس نے Amazon Web Services, Inc. (AWS) ایکپیوٹ پروگرام میں بھی حصہ لیا اشرک کی - اس
پروگرام سے پورت فولیو کی جیز اور دیگر جویز گروہ متقاضی اسٹارٹ ایس کو اسٹارٹ اپ میٹر شپ، نیلی ٹکل روڈ میپ پر ہا معاوضہ مشاورت اور عالمی سرما بیاگریوں
کے نیٹ ورک تک رسائی کے علاوہ 100,000 امریکی ڈائریک کے AWS کا کریڈٹ حاصل کرنے کے فوائد میسر آئیں گے - لی پی ایل وی - ویچرز کی
نجم نے این آئی کی کراچی کی جانب منعقد گروہ تقویت "انو ویشن بیچ میٹنگ" میں بھی شرکت کی، جس میں سرما بیاگری کو ایک پلیٹ فارم فراہم کیا تا کہ وہ
سے اسٹارٹ ایس اور "لار جسٹ بیچ کنٹرول" کے بارے میں مصرف گفت و شنید کریں بلکہ یہ معلومات بھی حاصل کریں کہ یونی کو ون ایونٹس کی جانب
سے منعقد کی جانے والی تقویت میں کس طرح مشرق وسطی اور افریقہ کے علاقوں کے اسٹارٹ اپ کو منظم کیا گیا -

۴ - لی پی ایل سٹیو رئی سرورز (پرائیویٹ) لمیٹڈ
جیسا کہ لی پی ایل سٹیو رئی سرورز (پرائیویٹ) لمیٹڈ کا کاروباری ماؤل کارڈ کی فزیکل تھینٹنی کے نظام کے گروکو متناہی: اینڈا 19-Covid کے اثرات
سے یہ بھی متاثر ہوا ہے - سرما بیاگری کے دوران کمٹی نے 20% کی منفی ٹاپ لائن نمونخا بری - تاہم کمٹی اپنی مالی کارکردگی کو بہتر بنانے کے لیے سے کا دو ہاری
مواقع کی تلاش میں مسلسل کوٹشاں ہے -

مستقبل بچی
اگرچہ Covid-19 نے کمٹی کے کاروباری عمل کو متاثر کیا، لیکن پھر بھی ہم اپنے کاروبار اور آمدن کے عمل کو وسیع کرنے کے لیے پر عزم ہیں - اس حوالے
سے سے جانے والے چند اہم اقدامات میں کمٹی کے بزنس ڈیوٹیمنٹ یونٹ کی تشکیل نو، انیشتراک سٹیو رئی سسٹر کے آغاز کا منصوبہ اور کمٹی کی مستحق اور
طویل المدت ترقی ونمو کے لیے CPEC پر انیشتراک اور اہل بنا نا شامل ہے - مشترکہ طور پر یہ تمام اقدامات، کمٹی کو طویل عرصے تک مسلسل ترقی کی راہ پر
کامزن رکھیں گے -

4 - کریڈٹ رینگ
پاکستان کریڈٹ رینگ ایمبی لمیٹڈ (PACRA) نے لی پی ایل کارپ لمیٹڈ کو "A" (سٹکل اے) کی طویل المدت ادارہ جاتی رینگ اور A1 (اے
ون) کی مکمل المدت ادارہ جاتی رینگ تفویض کی ہے - تفویض کروہ یہر چنگراک مختصر آؤٹ لک اور اعلی کریڈٹ کو اپنی کینٹنڈری کرتی ہیں -

20
TPL Corp

5- اخبار تفکر

ہم کیمیائی کے خصص یا فٹکان کی جانب سے کیمیائی پر کئے جانے والے اعتماد کا شکریہ ادا کر تے ہیں – ہم ضابطہ کار اداروں یا مخصوص اسلیٹ بیک آف یا کتنان، سکیورٹیز اینڈ انٹیجیجکیشن آف یا کتنان، فیڈرل بورڈ آف ریونیواور یا کتنان اسٹاک انٹیجیجکی جانب سے فراہم کی جانے والی رہنمائی اور مسلسل معاونت پر ان کے تیسرے ملے مظاہر ہیں – ہم اپنے ماہرین، اسٹمپٹیک شراکت داروں، ویئررز، فراہم کنندگان اور کشمکش کی جانب سے ہمارے کار پر ریت مقاصد و ابداف کی تحمیل کے سلسلے میں فراہم کردہ معاونت پر ان کے بھی بے حد مظاہر و ممنون ہیں –

حسب اقام بورڈ آف ڈائریکٹرز:

Quarterly Report 21

STANDALONE
CONDENSED
INTERIM FINANCIAL
STATEMENT

Condensed Interim Statement of Financial Position (Un-audited)

AS AT SEPTEMBER 30, 2021

	Note	September 30, 2021	June 30, 2021
		(Un-audited) (Rupees)	(Audited) (Rupees)
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment	5	17,410,409	17,524,392
Right of use asset	6	346,854,536	-
Intangible assets	-	-	12,218
Long-term investments	7	12,932,606,910	10,221,111,852
Long-term deposits	-	14,400,000	14,400,000
		13,311,271,855	10,253,048,462
CURRENT ASSETS
Advances	8	10,860,471	10,937,064
Trade deposits and prepayments	9	1,178,000	400,000
Interest accrued	-	12,207,724	10,753,193
Due from related parties	10	161,483,647	124,806,863
Taxation – net	-	8,155,324	8,152,479
Cash and bank balances	-	8,429,924	11,969,261
		202,315,090	167,018,860
TOTAL ASSETS		13,513,586,945	10,420,067,322
EQUITY AND LIABILITIES
SHARE CAPITAL AND RESERVES
Share capital
Authorised
330,000,000 (June 30, 2021: 330,000,000)
ordinary shares of Rs.10/- each		3,300,000,000	3,300,000,000
Issued, subscribed and paid-up capital		2,672,977,630	2,672,977,630
Capital reserve		138,630,762	118,155,762
Revenue reserves		(717,161,433)	(572,057,159)
Other component of equity		7,530,961,714	4,819,466,656
		9,625,408,673	7,038,542,889
NON-CURRENT LIABILITIES
Long term financing	11	921,181,675	1,034,444,644
Government grant	-	88,897	531,171
Lease liabilities	12	290,918,777	-
		1,212,189,349	1,034,975,815
CURRENT LIABILITIES
Trade and other payables		143,652,071	415,159,188
Accrued mark-up	13	186,871,146	148,824,562
Short-term financing	14	1,075,119,357	782,984,331
Current portion of non-current liabilities		218,712,205	55,597,312
Due to related parties	15	1,046,904,560	939,253,642
Unclaimed dividend		1,729,583	1,729,583
Unpaid dividend		3,000,000	3,000,000
		2,675,988,923	2,346,548,618
CONTINGENCIES AND COMMITMENTS	16
TOTAL EQUITY AND LIABILITIES		13,513,586,945	10,420,067,322

The annexed notes from 1 to 19 form an integral part of these condensed interim financial statements.

22
TPL Corp

Condensed Interim Statement of Profit or Loss and Other Comprehensive Income (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

	September 30, 2021	September 30, 2020
	(Rupees)
Dividend income	-	-
Administrative expenses	(71,502,457)	(29,922,006)
Operating loss	(71,502,457)	(29,922,006)
Finance cost	(76,341,221)	(44,808,257)
Other income	2,739,405	1,945,304
Loss before taxation	(145,104,274)	(72,784,959)
Taxation	-	-
Loss for the period	(145,104,274)	(72,784,959)
Other comprehensive income
Other comprehensive income not to be reclassified to profit or loss in subsequent periods, net of tax
Fair value gain on equity instruments designated at fair value through other comprehensive income (FVTOCI)	2,711,495,058	757,445,404
Total comprehensive income for the period	2,566,390,784	684,660,445
Loss per sharea - Basic and diluted	(0.54)	(0.27)

The annexed notes from 1 to 19 form an integral part of these condensed interim financial statements.

Chief Financial Officer

Chief Executive Officer

Director

Quarterly Report

Condensed Interim Statement of Changes in Equity (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

	Issued, subscribed and paid-up capital	Capital reserve - reserves created under Scheme of Arrangement	Other capital reserve	Revenue reserves - Unappropriated profit	Fair value reserve of financial assets designated at FVOCI	Total Equity
		Rupees
Balance as at July 01, 2020	2,672,977,630	60,855,762	-	(300,342,044)	397,080,356	2,830,571,704
Issuance of ordinary right shares						-
Loss for the period	-	-	-	(72,784,959)	-	(72,784,959)
Transfer to revenue reserve on disposal	-	-	-	-	-	-
Other comprehensive income for the period, net of tax	-	-	-	-	757,445,404	757,445,404
Total comprehensive loss for the period	-	-	-	(72,784,959)	757,445,404	684,660,445
Balance as at September 30, 2020	2,672,977,630	60,855,762	-	(373,127,003)	1,154,525,760	3,515,232,149
Balance as at July 01, 2021	2,672,977,630	60,855,762	57,300,000	(572,057,159)	4,819,466,656	7,038,542,889
---	---	---	---	---	---	---
Issuance of ordinary right shares						-
Loss for the period	-	-	20,475,000	(145,104,274)	-	(145,104,274)
Employee Share Options			-	20,475,000
Other comprehensive income for the period, net of tax	-	-	2,711,495,058	2,711,495,058
Total comprehensive loss for the period	-	-	(145,104,274)	2,711,495,058	2,586,865,784
Balance as at September 30, 2021	2,672,977,630	60,855,762	77,775,000	(717,161,433)	7,530,961,714	9,625,408,673

The annexed notes from 1 to 19 form an integral part of these condensed interim financial statements.

TPL Corp

Condensed Interim Statement of Cash Flows (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

	September 30, 2021	September 30, 2020
Note	(Rupees)
CASH FLOWS FROM OPERATING ACTIVITIES
Loss before taxation	(145,104,274)	(72,784,959)
Adjustment for non cash charges and other items:
Depreciation	19,682,284	256,333
Deferred Income	(1,259,904)	(853,360)
Employee Share option	20,475,000	-
Amortisation	12,218	91,668
Finance cost	76,341,221	44,808,257
	115,250,820	44,302,899
Operating profit / (loss) before working capital changes	(29,853,454)	(28,482,060)
(Increase) / decrease in current assets
Loans and advances	76,593	(3,339,299)
Trade deposits & prepayments	(778,000)	-
Interest accrued	(1,454,531)	(1,059,480)
Due from related parties	(36,676,784)	(25,838,476)
	(38,832,722)	(30,237,255)
(Decrease)/ increase in current liabilities
Trade and other payables	(271,507,118)	22,884,985
Due to related parties	107,650,918	(11,331,141)
	(163,856,200)	11,553,845
Cash flows from operations	(232,542,377)	(47,165,471)
Payments for:
Finance cost	(17,226,063)	(388,002)
Income taxes - net	(2,845)	(1,180,481)
	(17,228,908)	(1,568,483)
Net cash flows from operating activities	(249,771,284)	(48,733,954)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of - property, plant and equipment	(1,312,800)	(1,655,661)
Net cash flows used in investing activities	(1,312,800)	(1,655,661)
CASH FLOWS FROM FINANCING ACTIVITIES
Short term financing	273,108,653	(5,000,000)
Lease Liabilities	(14,400,000)	-
Long-term financing - net	(11,163,905)	56,155,492
Net cash flows used in financing activities	247,544,747	51,155,492
Net increase / (decrease) in cash and cash equivalents	(3,539,337)	765,877
Cash and cash equivalents at the beginning of the period	11,969,261	5,307,238
Cash and cash equivalents at the end of the period	8,429,924	6,073,115

The annexed notes from 1 to 19 form an integral part of these condensed interim financial statements.

Chief Financial Officer

Chief Executive Officer

Director

Quarterly Report

26
TPL Corp

Notes To The Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

1. LEGAL STATUS AND OPERATIONS

1.1. TPL Trakker Limited (the Company) was incorporated in Pakistan on December 04, 2008 as a private limited company under the repealed Companies Ordinance, 1984 (now Companies Act, 2017). In year 2009, the Company was converted into a public company and got listed on Pakistan Stock Exchange Limited on July 16, 2012. Effective from November 24, 2017, the name of the Company has been changed to TPL Corp Limited. The registered office of the Company is situated at Centrepoint Building, Off Shaheed-e-Millat Expressway, near KPT Interchange Flyover, Karachi. The principal activity of the Company is to make investment in group and other companies.

1.2. Geographical location and addresses of business unit is as under:

Location	Addresses
a) Corporate office, Karachi	20th Floor, Sky Tower - East Wing,
Domen City, HC-3, Abdul Sattar Edhi Avenue,
Block No. 4, Clifton, Karachi.

1.3. TPL Holdings (Private) Limited is the parent company, which holds 166,830,401 (June 30, 2021: 166,830,401) ordinary shares of the Company representing 62.41 percent (June 30, 2021: 62.41 percent) shareholding as of the reporting date.

1.4. These condensed interim financial statements are the separate condensed interim financial statements of the Company, in which investments in the below mentioned subsidiaries and associates have been accounted for at fair value and cost less accumulated impairment losses, if any, respectively.

As of reporting date, the Company has the following subsidiaries and associates:

	% of shareholding
	September 30, 2021	June 30, 2021
Subsidiaries
TPL Insurance Limited [TPLI]	66.30	66.30
TPL Properties Limited [TPLP]	34.81	34.81
TPL Property Management (Private) Limited (sub-subsidiary) [TPL PM]	34.81*	34.81*
TPL Logistic Park (Private) Limited (sub-subsidiary) [TPL LP]	34.81*	34.81*
HKC (Private) Limited (sub-subsidiary) [HKC]	34.81*	34.81*
TPL Technology Zone Phase-1 (Private) Limited [formerly known as G-18 (Private) Limited] (sub-subsidiary) [TPL TZ]	34.81*	34.81*
TPL REIT Management Company Limited (sub-subsidiary) [TPL REIT]	34.81*	34.81*
TPL Life Insurance Limited [TPL Life]	93.33	93.33
TPL Trakker Limited [TPLT]	64.32	64.32
TPL Security Services (Private) Limited [TPLSS]	99.99	99.99
TPL E-Ventures (Private) Limited [TPLE]	100.00	100.00
Trakker Middle East LLC (sub-subsidiary) [TME]	50**	50**

Represents direct holding in TPLP as at the reporting date.
** Represents direct holding of TPLT as at the reporting date

Associates

TPL Logistics (Private) Limited [TPL Logistics] 6.22 6.22

Compareon Pakistan (Private) Limited

Associated companies by virtue of 20.76% and 37.7% holdings of TPLE, respectively.

Notes To The Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

2. STATEMENT OF COMPLIANCE

These condensed interim financial statements of the Company for the three months ended September 30, 2021 has been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards applicable in Pakistan for interim financial reporting comprise of International Accounting Standard (IAS) - 34 - Interim Financial Reporting issued by International Accounting Board (IASB) as notified under the Companies Act, 2017 and, provisions of and directives issued under the Companies Act, 2017. Where the provisions of and directives issued under the Companies Act, 2017 differ with the requirement of IAS 34, the provisions of and directives issued under the Companies Act, 2017 have been followed.

3. BASIS OF PREPARATION

3.1. These condensed interim financial statements have been prepared under the ‘historical cost’ convention, unless otherwise specifically stated. These condensed interim financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the financial statements (unconsolidated) of the Company for the year ended June 30, 2021.

3.2. This condensed interim financial information comprises of the condensed interim statement of financial position as at September 30, 2021, condensed interim statement of profit or loss and other comprehensive income, condensed interim statement of cash flows and condensed interim statement of changes in equity for the three months period ended September 30, 2021.

3.3 These condensed interim financial statements have been presented in Pakistan Rupees which is also the Company’s functional currency and all financial information presented has been rounded off to the nearest rupees, otherwise stated.

4. SIGNIFICANT ACCOUNTING POLICIES

The accounting policies and the methods of computation adopted in the preparation of these condensed interim financial statements are the same as those applied in the preparation of the annual financial statements (unconsolidated) for the year ended June 30, 2021.

		September 30, 2021	June 30, 2021
5.	PROPERTY, PLANT AND EQUIPMENT	Note	(Un-audited) (Rupees)
	Operating fixed assets	17,410,409	17,524,392
5.1	The movement in operating fixed assets during the period / year are as follows:
	Opening balance - at written down value (WDV)	17,524,392	1,336,377
	Addition during the period / year	1,312,800	19,100,018
	Depreciation charge for the period / year	(1,426,783)	(2,912,003)
	Closing balance - at WDV	17,410,409	17,524,392
5.1.1.	Addition during the period / year are as follows:
	Laptops	973,500	3,145,461
	Mobile phones	-	250,300
	Electrical equipment	339,300	2,429,247
	Furniture & Fittings	-	2,399,500
	Vehicles	-	10,875,510
		1,312,800	19,100,018

Quarterly Report

Notes To The Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

6. RIGHT OF USE ASSET

Right of use asset

6.1

The movement in right of use asset during the period / year are as follows:

Opening balance - at written down value (WDV)
Addition during the period / year
Depreciation charge for the period / year
Closing balance - at WDV

7. LONG-TERM INVESTMENTS

Investment designated at FVTOCI

Subsidiary companies:

Quoted Subsidiaries

TPL Insurance Limited [TPLI]
TPL Properties Limited [TPLP]
TPL Trakker Limited [TPLT]

Unquoted Subsidiaries

TPL Life Insurance Limited [TPLL]
TPL E-Ventures (Private) Limited [TPLE]
TPL Security Services (Private) Limited [TPLSS]

Others:

TPL Logistics (Private) Limited [TPL Logistics]

September 30, 2021	June 30, 2021
(Un-audited)
(Rupees)	(Audited)
(Rupees)
346,854,536	-
-	-
365,110,037	-
(18,255,501)	-
346,854,536	-
3,102,459,578	3,041,078,584
6,135,702,665	3,431,389,436
2,054,750,551	2,108,949,716
11,292,912,794	8,581,417,736
1,492,358,004	1,492,358,004
29,583,916	29,583,916
106,191,336	106,191,336
1,628,133,256	1,628,133,256
12,921,046,050	10,209,550,992
11,560,860	11,560,860
11,560,860	11,560,860
12,932,606,910	10,221,111,852

7.1

During the period, the Company has recognised net gain of Rs. 2,771.49 million on its equity investments designated at FVTOCI in other comprehensive income, which will not be reclassified to profit or loss in subsequent periods.

8. ADVANCES

Advances – unsecured, considered good

Advances to TPL Logistics (Private) Limited
Advances to Supplier
Advance Rent
Advances and loans to employees

September 30, 2021	June 30, 2021
(Un-audited)
(Rupees)	(Audited)
(Rupees)
1,953,120	1,953,120
4,157,092	27,006
-	4,800,000
4,750,259	4,156,938
10,860,471	10,937,064

28
TPL Corp

Notes To The Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

9. TRADE DEPOSITS AND PREPAYMENTS

September 30, 2021	June 30, 2020
(Un-audited)	(Audited)
(Rupees)	(Rupees)
500,000	400,000
678,000	-
1,178,000	400,000

10. DUE FROM RELATED PARTIES - unsecured, considered good

Note	September 30, 2021	June 30, 2020
	(Un-audited)	(Audited)
	(Rupees)	(Rupees)

Subsidiary company

TPL Life Insurance Limited [TPLL]
TPL Security Services (Private) Limited [TPLSS]
TPL E-Ventures (Private) Limited (TPLE)

Others

TPL REIT Management Company Limited (sub-subsidiary) [TPL REIT]
TPL Tech Pakistan (Private) Limited [TPL Tech]

33,709,547	21,242,713
64,230,037	60,573,830
60,261,861	42,495,034
158,201,445	124,311,577
2,786,916	-
495,286	495,286
161,483,647	124,806,863

10.1. There are no major changes in the terms and conditions as disclosed in the annual financial statement (unconsolidated) for the year ended June 30, 2021.

11. LONG-TERM FINANCING – secured

Note	September 30, 2021	June 30, 2020
	(Un-audited)	(Audited)
	(Rupees)	(Rupees)

Term Loan
Payroll financing - Net of Grant
Diminishing musharikha
Less: Current portion shown under current liabilities

1,000,000,000	1,000,000,000
69,365,591	78,908,298
8,390,610	8,751,904
(156,574,526)	(53,215,558)
921,181,675	1,034,444,644

11.1. There are no major changes in the terms and conditions as disclosed in the annual financial statement (unconsolidated) for the year ended June 30, 2021.

12. Lease Liabilities

Note	September 30, 2021	June 30, 2020
	(Un-audited)	(Audited)
	(Rupees)	(Rupees)

Lease Liabilities
Less: Lease Liabilities Current portion

351,492,333	-
(60,573,556)	-
290,918,777	-

Quarterly Report

Notes To The Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

12.1. During the period, the Company has recorded Right of Use Asset on rental premises by discounting rental cashflows with weightage average borrowing cost of the Company i.e. KIBOR + 2.5% p.a. (10.17%) and recorded a corresponding lease liability under the requirements of IFRS 16.

		September 30, 2021	June 30, 2021
		(Un-audited)	(Audited)
13.	ACCRUED MARK-UP	Note	(Rupees)
	Accrued mark-up on:
	Long term financing	51,646,648	26,052,174
	Short term financing	2,204,219	13,737,303
	Due to related parties	133,020,280	109,035,085
		186,871,146	148,824,562
14.	SHORT TERM FINANCING
	Unsecured
	Commercial paper	14.1	875,119,357
	Secured
	Short-term loan - I	-	150,000,000
	Short-term loan - II	-	200,000,000
	Short-term loan - III	14.2	200,000,000
		1,075,119,357	782,984,331

14.1 During the year, the Company has issued privately placed Commercial Paper (CP) of Rs. 900 million discounted at 6 months KIBOR plus 2.75 percent (10.40%) per annum. These are repayable latest by January 12, 2022.

14.2 During the year, the Company has obtained a short-term loan facility having a limit of Rs. 200 million from a commercial bank for a period of 6 months. The loan carries a mark-up at the rate of 6 month KIBOR plus 1% per annum and is secured against ranking charge over assets of a subsidiary company.

		September 30, 2021	June 30, 2021
		(Un-audited)	(Audited)
15.	DUE TO RELATED PARTIES - unsecured	Note	(Rupees)
	Subsidiary companies
	- TPL Insurance Limited [TPLI]	9,735,175	18,722,383
	- TPL Trakker Limited [TPLT]	579,438,863	597,793,457
	- TPL Properties Limited [TPLP]	59,311,242	73,410,891
	Holding company
	- TPL Holdings (Private) Limited [TPLH]	398,419,280	249,326,911
		1,046,904,560	939,253,642

15.1 There are no major changes in the terms and conditions as disclosed in the annual financial statement (unconsolidated) for the year ended June 30, 2021.

CONTINGENCIES AND COMMITMENTS

There are no major changes in the contingencies and commitments as disclosed in the annual financial statement (unconsolidated) for the year ended June 30, 2021.

30
TPL Corp

Notes To The Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

17. FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair value is the amount for which an asset could be exchanged, or a liability can be settled, between knowledgeable willing parties in an arm's length transaction. The carrying amounts of all the financial instruments reflected in these financial statements approximate to their fair value.

17.1. Fair value hierarchy

Financial Instruments carried at fair value are categorized as follows:

Level 1 : Quoted market price.

Level 2 : Valuation techniques (market observable)

Level 3 : Valuation techniques (non-market observables)

17.2 The Company held the following financial instruments measured at fair value:

	Total	Level 1	Level 2	Level 3
Financial assets
September 30, 2021
Designated at FVOCI	12,932,606,910	11,292,912,794	1,492,358,004	147,336,112
June 30, 2021
Designated at FVOCI	10,221,111,852	8,581,417,736	1,492,358,004	147,336,112

18. TRANSACTIONS WITH RELATED PARTIES

Related parties of the Company comprise of holding company, subsidiaries, associates, directors and key management personnel. Transactions with related parties during the period, other than those which have been disclosed elsewhere in these condensed interim financial statements, are as follows:

	Three months ended
	September 30, 2021
(Un-audited)
(Rupees)	September 30, 2020
(Un-audited)
(Rupees)
Name / Relationship
TPL Holdings (Private) Limited – (Holding company)
Mark-up on current account	5,317,721	21,476,796
Expense incurred by the Company on behalf of TPL Holding (Private) Limited	3,094,657	2,998,629
Amount received by the Company from TPL Holding (Private) Limited	228,611,180	-
Amount paid by the Company to TPL Holding (Private) Limited	76,424,154	128,720,000
TPL Security Services (Private) Limited – (Subsidiary Company)
Expenditure incurred by the Company on behalf of TPLSS	3,656,206	3,664,780
TPL Insurance Limited – (Subsidiary Company)
Expense paid / payable on behalf of TPLI	23,983,445	18,921,523
Expenses incurred by TPLI on behalf of the Company	-	3,098,932
Amount received by the Company from TPLI	14,996,237	-
TPL Life Insurance Limited - (Subsidiary company)
Expense paid / payable on behalf of TPLL	12,466,835	26,705,583

Quarterly Report
31

Notes To The Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

	Three months ended
	September 30, 2021
(Un-audited)
(Rupees)	September 30, 2020
(Un-audited)
(Rupees)
TPL Trakker Limited - (Subsidiary Company)
Expenses incurred by TPLT on behalf of the Company	706,594	2,632,002
Expenditure incurred by the Company on behalf of TPLT	30,171,286	38,730,298
Amount received by the Company	550,610,099	165,871,171
Mark-up on current account	18,667,473	18,032,275
Amount paid by the Company	539,500,000	58,520,000
TPL Properties Limited - (Subsidiary Company)
Expense paid / payable on behalf of TPLP	27,040,515	41,500,040
Amount paid / payable to TPLP against services obtained by the Company	436,259	-
Expenditure incurred by TPLP on behalf of the Company	55,419	57,489,131
Amount received by the Company	12,449,188	53,500,000
TPL REIT Management Company Limited (sub-subsidiary) [TPL REIT]
Amount received by the Company	2,230,284	-
Expense paid / payable on behalf of TPL REIT	5,017,200	-
TPL e -Venture (Private) Limited - (Subsidiary Company)
Expenses incurred by TPLT For TPLE on behalf of the Company	-	-
Funds received by the company	5,800,000
Amount paid by the Company to TPLE	23,566,827	-
Advance against shares	-	-
Mark up on current account	1,454,532	1,059,482
Staff retirement benefit
Provident fund employer contribution	1,096,906	7,025,092

18.1 All transactions with related parties are executed into at agreed terms duly approved by the Board of Directors of the Company.

18.2 Employees of group companies provide services to the Company and their cost are proportionately charged to the Company.

DATE OF AUTHORIZATION OF ISSUE

This condensed interim financial Information was authorised for issue on October 29, 2021 by the Board of Directors of the Company.

Chief Financial Officer

Chief Executive Officer

Director

Quarterly Report

CONSOLIDATED
CONDENSED
INTERIM FINANCIAL
STATEMENT

Consolidated Condensed Interim Statement of Financial Position (Un-audited)

AS AT SEPTEMBER 30, 2021

		September 30, 2021	June 30, 2021
		(Un-audited) (Rupees)	(Audited) (Rupees)
ASSETS
NON - CURRENT ASSETS
Property, plant and equipment	4	1,592,310,179	1,522,180,915
Intangible assets	5	3,088,845,953	3,095,595,393
Right-of-use asset		533,568,745	107,974,195
		5,214,724,876	4,725,750,503
Investment property		1,611,194,610	1,470,752,861
Development properties		1,900,911,658	1,833,175,473
Long-term Investments		1,905,366,851	1,820,616,779
Long-term loans		32,973,539	24,903,459
Long-term deposits		35,532,692	43,381,787
Deferred tax asset - net		73,553,201	67,585,157
		10,774,257,428	9,986,166,019
CURRENT ASSETS
Stock-in-trade		497,455,380	445,649,520
Trade debts		1,146,316,104	1,342,965,721
Loans and advances		434,112,693	264,486,659
Trade deposits and prepayments		419,642,994	351,209,872
Interest accrued		208,745,982	182,242,296
Other receivables		1,795,185,504	1,539,594,924
Short-term investments		1,142,980,985	1,781,744,812
Due from related parties	6	371,635,215	751,551,740
Deferred commission expense		170,777,164	155,763,662
Taxation - net		8,781,780	14,465,299
Cash and bank balances		5,263,433,614	4,801,025,667
		11,459,067,416	11,630,700,172
TOTAL ASSETS		22,233,324,845	21,616,866,191
EQUITY AND LIABILITIES
SHARE CAPITAL AND RESERVES
Share capital
Authorised
330,000,000 (June 30, 2019: 330,000,000) ordinary shares of Rs.10/- each		3,300,000,000	3,300,000,000
Issued, subscribed and paid-up capital		2,672,977,630	2,672,977,630
Capital reserves		138,630,762	118,155,762
Revenue reserves		(52,914,574)	153,724,086
Other components of equity		164,099,031	204,832,408
		2,922,792,849	3,149,689,886
Non-controlling interest		4,464,825,178	4,471,600,481
		7,387,618,027	7,621,290,367
Participants' Takaful Fund		(52,998,058)	13,175,297
		7,334,619,969	7,634,465,664
NON - CURRENT LIABILITIES
Long-term financing		3,310,728,023	4,408,114,768
Liabilities against assets subject to finance lease		469,946,670	81,889,252
Long-term loans		133,204,442	169,165,150
Deferred liabilities		21,988,003	21,639,358
Gas Infrastructure Development Cess (GIDC) liability		16,669,009	19,579,594
		3,952,536,148	4,700,388,122
CURRENT LIABILITIES
Trade and other payables		2,121,296,956	2,578,037,850
Accrued mark-up		277,685,107	183,315,325
Short-term financing		1,125,836,140	1,018,938,067
Liabilities against insurance contracts		1,377,243,332	1,367,253,961
Underwriting provisions		1,755,754,321	1,408,969,326
Running finance under mark-up arrangements		1,279,945,963	1,062,507,117
Current portion of non-current liabilities		2,552,387,308	1,370,155,150
Due to related parties	7	403,836,050	252,252,923
Unclaimed dividend		1,729,583	1,729,583
Unpaid dividend		3,000,000	3,000,000
Advance monitoring fees		47,453,968	35,853,103
		10,946,168,728	9,282,012,405
CONTINGENCIES AND COMMITMENTS	8
TOTAL EQUITY AND LIABILITIES		22,233,324,845	21,616,866,191

The annexed notes from 1 to 13 form an integral part of these unaudited consolidated condensed interim financial information.

34
TPL Corp

Consolidated Condensed Interim Statement of Profit or Loss and Other Comprehensive Income (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

	September 30, 2021	September 30, 2020
Turnover – net	1,178,619,926	1,356,096,437
Cost of sales	(918,627,164)	(1,092,161,971)
Gross profit	259,992,762	263,934,466
Distribution expenses	(46,805,416)	(41,534,596)
Administrative expenses	(395,422,188)	(338,812,520)
Operating loss	(182,234,841)	(116,412,650)
Other expense	(11,760,991)	(19,949,644)
Finance cost	(159,685,577)	(210,568,444)
Other income	76,335,669	59,721,010
Share of (loss) / profit from investment in associates - net	(8,912,883)	-
Add / (less) Share of PTF	66,173,351	(806,894)
Loss before taxation	(220,085,273)	(288,016,622)
Taxation	(15,482,729)	(25,939,301)
Loss for the period	(235,568,002)	(313,955,923)
Other comprehensive income not to be reclassified to profit or loss in subsequent periods, (net of tax)
Fair value gain on equity instruments designated at fair value through other comprehensive income (FVTOCI)	3,968,993	(13,192,736)
Other comprehensive income to be reclassified to profit or loss in subsequent periods (net of tax)
Exchange differences on translation of foreign operations	(22,548,330)	(1,259,176)
Total comprehensive loss for the period	(254,147,339)	(328,407,835)
Loss per share - basic and diluted	(0.77)	(0.93)
Profit / (loss) for the period attributable to:
Owners of the Holding Company	(206,638,660)	(247,366,615)
Non-controlling interest	(28,929,342)	(66,589,308)
	(235,568,002)	(313,955,923)

The annexed notes from 1 to 13 form an integral part of these unaudited consolidated condensed interim financial information.

Chief Financial Officer

Chief Executive Officer

Director

Quarterly Report

36
TPL Corp

Consolidated Condensed Interim Statement of Changes in Equity (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

	Issued, subscribed and paid-up capital	Capital reserves		Revenue reserves		Foreign Exchange Translation reserve	Surplus on revaluation of property, plant and equipment	Total reserves	Non-controlling interest	Total Equity
		Reserve created under Scheme of Arrangement	Other capital reserve	Revenue reserves-unappropriated profits	Fair value reserve of financial assets designated at FVOCI
Rupees
Balance as at July 01, 2020	2,672,977,630	60,855,762	-	(429,237,761)	43,507,405	-	284,220,680	(40,653,914)	4,766,383,687	7,398,707,403
(Loss) for the period	-	-		(247,366,615)	-		-	(247,366,615)	(66,589,308)	(313,955,923)
Other comprehensive income for the period, net of tax	-	-		-	(22,650,088)		-	(22,650,088)	8,198,176	(14,451,912)
Total comprehensive income / (loss) for the period	-	-		(247,366,615)	(22,650,088)		-	(270,016,703)	(58,391,132)	(328,407,835)
Increase in shareholding in subsidiaries due to Acquisition				-				-	-	-
Decrease in shareholding of non-controlling interest due to disposal				477,944,673				477,944,673	385,128,512	863,073,185
Exchange loss on translator of goodwill				(1,523,988)				(1,523,988)	(845,396)	(2,369,384)
Balance as at September 30, 2020	2,672,977,630	60,855,762		(200,183,691)	20,857,317	-	284,220,680	165,750,068	5,092,275,671	7,931,003,369
Balance as at July 01, 2021	2,672,977,630	60,855,762	57,300,000	153,724,086	(87,334,666)	8,436,946	283,730,128	476,712,256	4,471,600,481	7,621,290,367
(Loss) for the period	-	-		(206,638,660)	-		-	(206,638,660)	(28,929,342)	(235,568,002)
Other comprehensive income for the period, net of tax	-	-		-	(56,030,390)	15,297,013	-	(40,733,377)	22,154,040	(18,579,337)
Total comprehensive income / (loss) for the period	-	-		(206,638,660)	(56,030,390)	15,297,013	-	(247,372,037)	(6,775,302)	(254,147,339)
Share based payment reserve	-	-	20,475,000	-	-	-	-	20,475,000	-	20,475,000
Balance as at September 30, 2021	2,672,977,630	60,855,762	77,775,000	(52,914,574)	(143,365,055)	23,733,958	283,730,128	249,815,219	4,464,825,178	7,387,618,027

The annexed notes from 1 to 13 form an integral part of these unaudited consolidated condensed interim financial information.

Chief Financial Officer

Chief Executive Officer

Director

Consolidated Condensed Interim Statement of Changes in Equity (continued) (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

	Participants' Takaful Fund
	Ceded money	Accumulated (deficit) / surplus	Other comprehensive deficit attributable to PTF	Total
	Rupees
Participants' Takaful Fund:
Balance as at July 1, 2020	2,000,000	67,048,465	-	69,048,465
Surplus for the period	-	806,894	-	806,894
Other comprehensive surplus, net of tax	-	-	-	-
Total comprehensive surplus for the period	-	806,894	-	806,894
Balance as at September 30, 2020	2,000,000	67,855,359	-	69,855,359
Balance as at July 1, 2021	2,000,000	11,175,291	-	13,175,291
Surplus for the period	-	(66,173,349)	-	(66,173,349)
Other comprehensive surplus, net of tax	-	-	-	-
Total comprehensive surplus / (deficit) for the period	-	(66,173,349)	-	(66,173,349)
Balance as at September 30, 2021	2,000,000	(54,998,058)	-	(52,998,058)

The annexed notes from 1 to 13 form an integral part of these unaudited consolidated condensed interim financial information.

Quarterly Report

Consolidated Condensed Interim Statement of Cash Flows (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

	September 30, 2021	September 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES	(Un-audited)	(Un-audited)
Note	(Rupees)
(Loss) / profit before taxation	(220,085,273)	(288,016,622)
Adjustment for non cash charges and other items:
Depreciation	93,527,095	75,671,603
Depreciation on ROUA	19,911,923	12,989,748
Amortisation	15,307,253	20,111,540
Share of PTF - net	86,173,351	806,894
Provision for doubtful debts	6,543,893	5,600,000
Finance costs	159,685,577	210,568,444
Share Based reserve	20,475,000	-
Reversal of Expected credit loss	(3,033,883)	-
Share of loss in investment in associates - net	8,912,883	-
(Gain)/loss on revaluation of investment	-	4,598,270
Realised gain on disposal of investments	-	-
(Gain)/loss on disposal of property, plant and equipment	766,753	-
Fair valuation gain on Investment	12,334	(115,000)
Amortisation of government grant	-	(5,815,022)
Operating profit before working capital changes	(1,259,904)	(1,746,501)
(Increase) / decrease in current assets
Stock-in-trade	254,675,573	322,669,976
Trade debts	34,590,300	34,653,354
Loans and advances	(51,805,860)	(40,670,795)
Trade deposits and prepayments	190,105,724	(338,287,003)
Other receivables	(169,626,034)	29,929,446
Due from related parties	(68,433,122)	(122,789,483)
Interest accrued	(255,590,580)	(330,765,544)
Deferred commission expense	379,916,525	(18,807,373)
Increase / (decrease) in current liabilities	(26,503,686)	9,574,626
Trade and other payables	(15,013,502)	(23,475,335)
Advance monitoring fees	(16,950,537)	(835,291,461)
Due to related parties	(456,740,894)	495,581,745
Liabilities against insurance contracts	11,600,865	(2,995,918)
Underwriting provisions	151,583,127	27,065,623
Cash flows from operations	9,989,371	195,178,531
Finance costs paid	346,784,995	246,774,528
Income taxes paid	63,217,464	961,604,509
Net cash flows (used in) / from operating activities	80,857,227	160,966,402
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of - property, plant and equipment	(64,055,890)	(255,271,602)
- capital work-in-progress - net	(15,767,255)	(33,602,634)
- intangible assets	(79,823,145)	(288,874,236)
- investment property	(1,034,082)	(127,907,834)
- development property	-	-
Sale proceed from disposals of property, plant and equipment	(162,344,917)	(154,241,122)
Long term investments	(1,316,110)	(173,525)
Short term investments	(8,557,813)	(341,426,861)
Long-term deposits	(140,441,749)	-
Long-term loans	(67,736,185)	(163,553,723)
Advance against sale of property	7,667	4,985,153
Net cash flows used in investing activities	(84,750,072)	74,198,270
CASH FLOWS FROM FINANCING ACTIVITIES
Long-term loans - net	(35,960,708)	112,843,970
Obligation under finance lease - net	(64,311,641)	(894,698)
Short-term financing - net	106,898,073	(1,087,388,452)
Long term financing	84,845,413	176,799,662
Deferred liabilities	1,608,549	25,111,317
Proceeds from IPO of TPL Trakker Limited	-	756,421,245
Net cash flows (used in) / from financing activities	93,079,686	(17,106,956)
Net (decrease) / increase in cash and cash equivalents	267,517,431	(55,271,462)
Cash and cash equivalents at the beginning of the period	3,738,518,550	365,573,397
Net foreign exchange differences	(22,548,330)	2,372,540
Cash and cash equivalents at the end of the period	3,983,487,651	312,674,475

The annexed notes from 1 to 13 form an integral part of these unaudited consolidated condensed interim financial information.

38
TPL Corp
Chief Executive Officer

Notes To The Consolidated Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

1 LEGAL STATUS AND OPERATIONS OF THE GROUP

The Group consists of TPL Corp Limited (the Holding Company) and its subsidiary companies i.e. TPL Insurance Limited, TPL Properties Limited and its subsidiaries [i.e. HKC (Private) Limited, TPL Technology Zone Phase-1 (Pvt.) Limited (formerly known as G-18 (Pvt.) Limited), TPL REIT Management Company Limited, TPL Property Management (Private) Limited, TPL Logistics Park (Private) Limited], TPL Life Insurance Limited, TPL Trakker Limited and its subsidiary company [i.e. Trakker Middle East LLC], TPL E-Ventures (Private) Limited and TPL Security Services (Private) Limited that have been consolidated in these consolidated financial statements.

1.1. Holding Company

TPL Trakker Limited was incorporated in Pakistan on December 04, 2008 as a private limited company under the repealed Companies Ordinance, 1984 (now Companies Act, 2017). In year 2009, the Holding Company was converted into a public company and got listed on Pakistan Stock Exchange Limited on July 16, 2012. During the year, the name of the Holding Company has been changed to TPL Corp Limited with effect from November 24, 2017. Currently, the principal activity of the Company is to make investment in group and other companies. TPL Holdings (Private) Limited is the ultimate parent company by virtue of 62.41 percent (June 30, 2021: 62.41 percent) shareholding as of the reporting date.

1.2. As of the reporting date, the Holding Company has the following subsidiaries and associate:

	% of shareholding
	September 30, 2021	June 30, 2021
Subsidiaries
TPL Insurance Limited [TPLI]	66.30	66.30
TPL Properties Limited [TPLP]	34.81	34.81
TPL Property Management (Pvt.) Limited (sub-subsidiary) [TPL PM]	34.81*	34.81*
TPL Logistics Park (Private) Limited (sub-subsidiary) [TPL LP]	34.81*	34.81*
HKC Limited (sub-subsidiary) [HKC]	34.81*	34.81*
TPL Technology Zone Phase -1 (Pvt.) Limited formerly	34.81*	34.81*
known as G-18 (Pvt.) Limited [TPL TZ]	34.81*	34.81*
TPL REIT Management Company Limited (sub-subsidiary) [TPL REIT]	34.81*	34.81*
TPL Life Insurance Limited [TPLL]	93.33	93.33
TPL Trakker Limited [TPLT]	64.32	64.32
Trakker Middle East LLC [TME]	64.32**	64.32**
TPL Security Services (Private) Limited [TPLSS]	100	100
TPL E-Ventures (Private) Limited [TPLE]	100	100
Associates
TPL Logistics (Private) Limited [TPLL]	26.98***	26.98***
Compareon Pakistan (Private) Limited [CPPL]	37.7***	37.7***

Sub-subsidiary of TPLP as at reporting date.
** Sub-subsidiary of TPLT as at reporting date.
*** Indirect associates by virtue of TPLE

Quarterly Report

Notes to the Consolidated Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

1.2.1. TPL Insurance Limited [TPLI]

TPLI was incorporated in Pakistan in 1992 as a public limited company under the repealed Companies Ordinance, 1984 (now Companies Act, 2017). The principal activity of TPLI is to carry on general insurance business. TPLI was allowed to work as Window Takaful operator on September 04, 2014 by Securities and Exchange Commission of Pakistan (SECP) under SECP Takaful Rules, 2012 to carry on General Window Takaful operations in Pakistan. In this regard, TPLI has formed a Waqf/Participant Takaful Fund (PTF), which is managed by TPLI under the waqf deed. TPLI is listed on Pakistan Stock Exchange Limited with effect from September 22, 2011. The financial year end of TPLI is December 31.

In terms of the requirements of the Takaful Rules 2012 and General Takaful Accounting Regulations 2019, read with SECP Circular 25 of 2015 dated July 09, 2015, the PTF was not consolidated with the conventional insurance business. However, as per SECP letter number ID/MDPR/GTAR/2020/760 dated February 19, 2020, the Company had been granted relaxation from the above requirements and had been allowed line by line consolidation of financial statements of conventional and WTO (including PTF) up to the period ending December 31, 2020. In addition, SECP in its letter number ID/MDPR/GTAR/2020/1244 dated November 30, 2020 has extended the extension up to the period ending December 31, 2021. Therefore, these consolidated financial statements of the Group includes the consolidated financial position, results of operations and cash flows of the conventional business and WTO (including PTF) for the period ended September 30, 2021.

1.2.2. TPL Properties Limited [TPLP]

TPLP was a private limited company incorporated in Pakistan on February 14, 2007 under the repealed Companies Ordinance, 1984 (now Companies Act, 2017). In year 2016, TPLP has changed its status from private limited company to public company and got listed on Pakistan Stock Exchange Limited. The principal activity of TPLP is to invest, purchase, develop and build real estate and to sell, rent out or otherwise dispose off in any manner the real estate including commercial and residential buildings, houses, shops, plots or other premises. The financial year end of TPLP is June 30.

1.2.3. TPL Property Management (Pvt.) Limited (sub-subsidiary) [TPL PM]

TPL PM was incorporated in Pakistan on April 10, 2020 as a private company, limited by shares under the Companies Act, 2017 (the Act). The principal business of the entity is to carry on the business of providing all types of facilities management, maintenance and execution of contracts of all kinds and of structure including but not limited to residential, commercial, mixed use, hotel or any other real estate developments.

1.2.4. TPL Logistics Park (Private) Limited (sub-subsidiary) [TPL LP]

TPL LP was incorporated in Pakistan on December 11, 2019 as a private company, limited by shares under the Companies Act, 2017 (the Act). The principal business of the entity is to carry on the business of holding/parent Company and to coordinate and regulate the administration, finances, activities and business of the subsidiaries, shareholding interests in other Companies and to undertake and carry out all such services in connection therewith. However, as of the reporting date, TPL LP has not commenced its operations.

1.2.5. HKC Limited (sub-subsidiary) [HKC]

HKC was incorporated in Pakistan on September 13, 2005 as a public limited company under the repealed Companies Ordinance, 1984. The Company is principally engaged in the acquisition and development of real states and renovation of buildings and letting out. In 2020, the Company changed its status from public unlisted company to private limited company.

TPL Corp

Notes To The Consolidated Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

1.2.6. TPL Technology Zone Phase-1 (Pvt.) Limited formerly known as G-18 (Private) Limited [TPL TZ]

TPL TZ was incorporated in Pakistan as a private limited company on April 12, 2018 under the Act for the purpose of property development. As of the reporting date, TPL TZ has commenced its business operations. During the year, the Company has changed its name from G-18 (Private) Limited to TPL Technology Zone Phase-I (Private) Limited.

1.2.7. TPL REIT Management Company Limited [TPL REIT]

TPL REIT was incorporated in Pakistan as a public limited company on October 12, 2018 under the Act. The principal activity of the entity is to carry on all or any business permitted to be carried out by a 'REIT Management Company' including but not limited to providing 'REIT Management Services' in accordance with the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003. However, as of the reporting date, TPL REIT has not commenced its business operations.

1.2.8. TPL Life Insurance Limited [TPLL]

TPLL was incorporated on March, 19 2008 under the repealed Companies Ordinance, 1984 (now Companies Act, 2017) as a public limited company and is registered as a life insurance company with the Securities and Exchange Commission of Pakistan (SECP) under the Insurance Ordinance, 2000. TPLL obtained license to carry on life and related lines of insurance business on March 2, 2009. TPLL is engaged in life insurance business including ordinary life business, accidental and health business. On August 09, 2018, SECP has also granted Window Takaful license to TPLL to undertake Takaful Window Operation. The financial year end of TPLL is December 31.

1.2.9. TPL Trakker Limited [TPLT]

TPL Vehicle Tracking (Private) Limited (TPLV) was incorporated in Pakistan on December 27, 2016 as a private limited company under the repealed Companies Ordinance, 1984 (now Companies Act, 2017). On November 30, 2017, the name of TPLV changed to TPL Trakker (Private) Limited and on January 17, 2018, the status was changed into a public company. Accordingly the name of TPLV was changed to TPL Trakker Limited (TPLT). On August 10, 2020, TPLT got listed on Pakistan Stock Exchange Limited at the strike price of Rs.12 per share. The principal activity of the TPLT is installation and sale of tracking devices, vehicle tracking and fleet management and other services. The financial year end of TPLT is June 30.

1.2.10. TPL Security Services (Private) Limited [TPLSS]

TPLSS is a private limited company incorporated on May 01, 2000 in Pakistan under the repealed Companies Ordinance, 1984 (now Companies Act, 2017). The principal activity of TPLSS is to provide security services. The financial year end of TPLSS is June 30. TPLSS is fully supported by the financial assistance of the Holding Company for smooth running of business operations.

1.2.11. Trakker Middle East L.L.C. [TME]

Trakker Middle East L.L.C. (TME) is a limited liability company registered in Abu Dhabi, United Arab Emirates. The principal activities of the TME are the selling, marketing and distribution of products and services in the field of wireless, fleet management, tracking and telemetry services. The registered office of TME is at 1805, Sidra Tower, Al Sufouh 1, Sheikh Zayed Road, Dubai, United Arab Emirates.

Quarterly Report

42
TPL Corp

Notes to the Consolidated Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

1.2.12 TPL E-Ventures (Private) Limited [TPLE]

TPL E-Ventures (Private) Limited (TPLE) was incorporated in Pakistan on November 21, 2017 as a private limited company under the Companies Act, 2017. The principal activity of TPLE is to explore business and other opportunities in fintech and start-ups, facilitate start-ups in realizing business opportunities, establish and run data processing centers, computer centers, software development centers, offices and to provide consultancy and data processing software development services, both application packages and operating systems and other services, to impart training of electronic data processing, computer software and hardware to customers and others and to buy, sell, export, import and develop software, hardware, computer systems integration, network solution services and establishment of incidental infrastructural facilities, subject to permission of relevant authorities. The financial year end of TPLE is June 30

1.3 Geographical location and addresses of business units of the Group are as under:

Location	Addresses
a) Holding Company
Corporate office, Karachi	20th Floor, Sky Tower - East Wing, Domen City, HC-3, Abdul Sattar Edhi Avenue, Block No. 4, Clifton, Karachi.
b) Subsidiary companies
Location	Addresses
Corporate / registered office at Karachi
TPL Insurance Limited	19-B, Sindhi Muslim Cooperative Housing Society (S.M.C.H.S), near Roomi Masjid, Shahrah-e-Faisal, Karachi
TPL Properties Limited	Centrepoint Building, Off Shaheed-e-Millat Expressway, Adjacent KPT Interchange.
TPL Property Management (Private) Limited	Centrepoint Building, Off Shaheed-e-Millat Expressway, Adjacent KPT Interchange.
TPL Logistic Park (Private) Limited	Centrepoint Building, Off Shaheed-e-Millat Expressway, Adjacent KPT Interchange.
HKC Limited (sub-subsidiary)	Centrepoint Building, Off Shaheed-e-Millat Expressway, Adjacent KPT Interchange.
Development property site	Plot No 22/7, Street CL-9, Civil Lines Quarter, Karachi
TPL Technology Zone Phase-1 (Pvt.) Limited	Centrepoint Building, Off Shaheed-e-Millat Expressway, Adjacent KPT Interchange.
TPL REIT Management Company Limited	Centrepoint Building, Off Shaheed-e-Millat Expressway, Adjacent KPT Interchange.
TPL Life Insurance Limited	19-B, Sindhi Muslim Cooperative Housing Society (S.M.C.H.S), near Roomi Masjid, Shahrah-e-Faisal, Karachi

Quarterly Report
43

Notes To The Consolidated Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

TPL Trakker Limited
Plot No. 1, Sector #24, near Shan Chowrangi, Korangi Industrial Area, Karachi.

Trakker Middle East L.L.C.
1805 Sidra Tower, Al Sofouh 1, Sheikh Zayed Road, Dubai, United Arab Emirates.

TPL Security Services (Private) Limited
Centrepoint Building, Off Shaheed-e-Millat Expressway, Adjacent KPT Interchange.

TPL E-Ventures (Private) Limited
Centrepoint Building, Off Shaheed-e-Millat Expressway, adjacent KPT Interchange.

Regional offices:

Hyderabad office
A-8 District Council Complex, Hyderabad.

Lahore office
Tower 75, 4th Floor, L Block, Gulberg III, Kalma Chow, Main Ferozpur Road, Lahore.

Islamabad office
10th floor (South) ISE Towers, 55-B, Jinnah Avenue, Blue Area, Islamabad.

Faisalabad office
Office No. 2, 4th Floor, Mezan Executive Tower, Liaqat Road, Faisalabad.

Multan office
House No. 2, Shalimar Colony, Haider Street, Bosan Road (near Toyota Multan), Multan.

Peshawar office
C-7 & C-8 3rd Floor, Jasmine Arcade, Fakhr-e-Alam Road, Peshawar.

2. BASIS OF PREPARATION

These unaudited consolidated condensed quarter financial statements have been prepared in condensed form in accordance with approved accounting standards as applicable in Pakistan for interim financial reporting and provisions of and directives issued under the Companies Act, 2017. Where the provisions of and directives issued under the Companies Act, 2017 differ with the requirements of approved accounting standards, the provisions of and directives issued under the Companies Act, 2017 have been followed. These unaudited consolidated condensed quarter financial statements does not include all of the information required for full annual financial statement and should be read in conjunction with the annual financial statements as at and for the year ended June 30, 2021.

This unaudited consolidated condensed interim financial statements have been prepared under the 'historical cost' convention, except for investment property which is measured at fair value and certain financial instruments which are measured in accordance with the requirements of International Financial Reporting Standard (IFRS-9) "Financial Instruments".

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting policies and methods of computation followed for the preparation of this unaudited consolidated condensed quarter financial information is the same as those applied in preparing the consolidated financial statements for the year ended June 30, 2021.

Notes to the Consolidated Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

	Note	September 30, 2021	June 30, 2021
		Rupees (Un-audited)	Rupees (Audited)
4. PROPERTY, PLANT AND EQUIPMENT
Operating Fixed Assets	4.1	1,228,453,500	1,159,640,346
Capital work-in-progress		363,856,679	362,540,569
		1,592,310,179	1,522,180,915
4.1. Operating fixed assets
The following is the movement in operating fixed assets during the period:
Opening balance		1,159,640,346	1,107,594,200
Add: Additions during the period		162,344,917	568,650,217
Transfer during the period		-	-
		1,321,985,262	1,676,244,417
Less: Disposals during the period (WDV)		4,667	-
Transfer during the period		-	49,703,454
Depreciation charge for the period		93,527,095	466,900,617
		93,531,762	516,604,071
Operating fixed assets (WDV)		1,228,453,500	1,159,640,346
5. INTANGIBLE ASSETS
Opening balance		3,095,595,393	1,942,104,086
Add: Additions/ transfers during the period		8,557,813	314,675,644
Intangible assets under development		-	914,859,367
		3,104,153,206	3,171,639,096
Less: Amortisation charge for the period		15,307,253	76,043,704
Add/(Less): Exchange difference		-	-
Intangible assets (WDV)		3,088,845,953	3,095,595,393
6. DUE FROM RELATED PARTIES - unsecured, considered good
Ultimate parent company
TPL Holdings (Private) Limited	6.1	319,354,617	697,831,944
Associated companies
TPL Direct Finance (Private) Limited		850,070	850,070
TPL Tech Pakistan (Private) Limited		43,489,279	43,489,279
The Resource Group Pakistan Limited		7,941,248	9,380,446
	6.1	52,280,598	53,719,796
		371,635,215	751,551,740

6.1. There are no major changes in the terms and conditions as disclosed in the annual financial statement (consolidated) for the year ended June 30, 2021.

44 TPL Corp

Notes to the Consolidated Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

	September 30, 2021	June 30, 2021
Note	Rupees (Un-audited)	Rupees (Audited)

7. DUE TO RELATED PARTIES - UNSECURED

Ultimate parent company

TPL Holdings (Private) Limited
Virtual World (Private) Limited

7.1

398,419,280	249,326,911
5,416,770	2,926,012
403,836,050	252,252,923

7.1. There are no major changes in the terms and conditions as disclosed in the annual financial statement (consolidated) for the year ended June 30, 2021.

8. CONTINGENCIES AND COMMITMENTS

There are no major changes in the contingencies and commitments as disclosed in the annual financial statement for the year ended June 30, 2021.

9. TRANSACTIONS WITH RELATED PARTIES

Related parties of the Group comprise of ultimate parent company, associates, suppliers, directors and key management personnel. Transactions with related parties and associated undertakings during the period, other than those which have been disclosed elsewhere in this consolidated condensed interim financial information, are as follows:

Name / Relationship	September 30, 2021 Rupees (Un-audited)	September 30, 2020 Rupees (Un-audited)
TPL Holdings (Private) Limited – (Holding company)
Amount received by the Company	639,277,409	-
Expenses paid by the Company	8,583,968	3,404,822
Payment made by the Company	103,123,746	194,220,000
Mark-up on current account charged by TPLH	23,630,374	584,573
TPL Direct Finance (Private) Limited - (Common directorship)
Expenses paid by the Company	-	-
Mark-up on current account	22,862	14,252
The Resource Group Pakistan Limited - (Common directorship)
Expenses paid by the Company
Mark-up on current account	252,280	192,545
TPL Tech Pakistan (Private) Limited - (Common directorship)
Expenses paid by TPLT on behalf of the TPL Tech	-	1,350
Markup on current account	1,156,291	1,035,618
Virtual World (Private) Limited (Common directorship)
Services received during the year from TPLI	8,631,048	-
Outsourcing expense paid during the year to TPLI	6,140,289	-
Staff retirement benefit
Employer's Contribution	4,062,616	3,681,913

Quarterly Report
45

46
TPL Corp
29

Notes to the Consolidated Condensed Interim Financial Statements (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

September 30, 2021	September 30, 2020
Rupees
(Un-audited)	Rupees
(Un-audited)

11. CASH AND CASH EQUIVALENTS

Cash and bank balances

Running finance under mark-up arrangements

| 5,263,433,614
(1,279,945,963) | 1,302,085,925
(989,411,450) |
| --- | --- |
| 3,983,487,651 | 312,674,475 |

12. DATE OF AUTHORISATION FOR ISSUE

This unaudited consolidated condensed interim financial information was authorised for issue on October 29, 2021 by the Board of Directors of the Company.

13. GENERAL

Figures have been rounded off to the nearest rupee, unless otherwise stated.

Corporate Office

20th Floor, Sky Tower - East Wing, Domen City, HC-3,
Abdul Sattar Edhi Avenue, Block No. 4, Clifton, Karachi.
+92-21-34390300 [email protected] www.tplcorp.com
tplcorp in tpl-corp-ltd

AI assistant

TPL Corp Limited — Interim / Quarterly Report 2022

72463_rns_2021-10-29_7ff2b16b-8c80-4494-ba30-c498577f90bc.pdf

TABLE OF CONTENTS

Standalone Financial Statements

Consolidated Financial Statements

Vision

Mission

Vision

Company Information

Board of Directors

Chief Executive Officer

Chief Financial Officer & Executive Director

Company Secretary

Audit Committee

Human Resources & Remuneration Committee

Audit Committee

Legal Advisor

Bankers

Share Registrar

Registered Office

Web Presence

Geographical Presence

DIRECTORS' REPORT

1. ECONOMIC OUTLOOK

2. FINANCIAL HIGHLIGHTS

3. Group Performance

Business Performance - Standalone

Business Performance - Consolidated

Future Outlook - Connected Car & IoT

Future Outlook - Digital Mapping & Location Services

b. TPL Insurance Limited

Future Outlook

c. TPL Properties Limited

Future Outlook

Future Outlook

ڈائریکٹرز رپورٹ:

اقتصادی نتفاظر:

2- اہم مالیاتی نکات

3- گروپ کی کارکردگی

a- نیچے ایلی ٹریکریلیٹ

کاروباری کارکردگی - مجموعی

b ٹی پی ایل انٹرپرائٹل

مستحق ہیں:

8 - فی پی ایل ای-2000

5- اخبار تفکر

Condensed Interim Statement of Financial Position (Un-audited)

Condensed Interim Statement of Profit or Loss and Other Comprehensive Income (Un-audited)

Condensed Interim Statement of Changes in Equity (Un-audited)

FOR THE PERIOD ENDED SEPTEMBER 30, 2021

Condensed Interim Statement of Cash Flows (Un-audited)

Notes To The Condensed Interim Financial Statements (Un-audited)

1. LEGAL STATUS AND OPERATIONS

1.2. Geographical location and addresses of business unit is as under:

Associates

Notes To The Condensed Interim Financial Statements (Un-audited)

2. STATEMENT OF COMPLIANCE

3. BASIS OF PREPARATION

4. SIGNIFICANT ACCOUNTING POLICIES

Notes To The Condensed Interim Financial Statements (Un-audited)

6. RIGHT OF USE ASSET

6.1

7. LONG-TERM INVESTMENTS

7.1

8. ADVANCES

Notes To The Condensed Interim Financial Statements (Un-audited)

9. TRADE DEPOSITS AND PREPAYMENTS

10. DUE FROM RELATED PARTIES - unsecured, considered good

Subsidiary company

Others

10.1. There are no major changes in the terms and conditions as disclosed in the annual financial statement (unconsolidated) for the year ended June 30, 2021.

11. LONG-TERM FINANCING – secured

11.1. There are no major changes in the terms and conditions as disclosed in the annual financial statement (unconsolidated) for the year ended June 30, 2021.

12. Lease Liabilities

Notes To The Condensed Interim Financial Statements (Un-audited)

Notes To The Condensed Interim Financial Statements (Un-audited)

17. FAIR VALUE OF FINANCIAL INSTRUMENTS

17.1. Fair value hierarchy

17.2 The Company held the following financial instruments measured at fair value:

18. TRANSACTIONS WITH RELATED PARTIES

TPL Corp Limited Interim / Quarterly Report 2022