National Biscuit Industries Limited SAOG (NBII) Earnings Call Transcript & Summary

Good morning, gentlemen. We are here gathered to discuss the investor discussion session as of 24th November 2024 for the period ended 30th of September for National Biscuit Industries Limited. We'll wait for another 5 minutes to let people gather and join the meeting. So I'll introduce the team sitting along with me to discuss the financials. We have Mr. Aiman Al-Hadhrami, the Investor Relationship Manager; Mr. Devang, the Board Secretary; Ms. [ Shweta ], responsible for preparation of financial statements and I'm Harkamal Kumar, the financial controller of the company. Today, we'll be discussing the unaudited results as on 30th of September 2024. We'll be covering the income statement, balance sheet, statement of financial position, property, plant and equipment, trade and other receivables and similarly trade and other payables. Towards the end of the session, we'll be having a question-answer round. We'll be giving the replies to any questions. This is the income statement for 6 months period ended on 30th September 2024 in comparison to 30th September 2023. Company has reported a sales of OMR 8.9 million as against OMR 7.63 million, which is a 17% growth over the last year. In line with the sales growth, the cost of sales growth has been 14%. This 3% additional has resulted increase in the gross profit by 30% in the company. Other income of the company has remained almost stable, which is OMR 11,000 as against OMR 14,000 in the reporting period of last year. Expenses side, company has incurred expenses of [ OMR 11.01 ] million as against OMR 8.88 million in the last 6 months, which is a 14% growth. Profit before tax has been OMR 315,000 as against OMR 137,000, which is a growth of 129% Similarly, profit after tax has been OMR 268,000 as against OMR 117,000, which is again 129% growth as against 6 months period of last year. Coming to the balance sheet asset side, company has firmly kept asset base of OMR 7 million, OMR 6.99 million has slightly grown to OMR 7.12 million now. The inventories of the company have grown by 24% from OMR 2.24 million to OMR 2.79 million. Company's trade and other receivables in spite of sales growth has been improved in performance. We have reported 4.2 million of receivables as against OMR 4.71 million of receivables last year. Company have kept excess funds in Wakala deposits and company's bank balance has been OMR 792,000 as against OMR 276,000 of last year, which is a very good position and growth of 187%. Total asset base has improved from OMR 14.2 million to OMR 15 million, which is a growth of 6%. Similarly, on liability side, shareholder equity has improved by 8% from OMR 7.4 million, it has reached to OMR 8 million. The noncurrent liabilities from OMR 883,000 has now OMR 1.36 million. The current liabilities have reduced from OMR 5.95 million has come down to OMR 5.64 million, which shows the overall health of the balance sheet has improved. The total liabilities in line with the assets have improved by 2% from OMR 6.84 million to OMR 7 million and total equity and liabilities has improved by 6% from OMR 14.22 million to OMR 15 million. This slide shows the status of property, plant and equipment as on 30th of September 2024. So the company's net book value has been OMR 6.50 million, which is now OMR 6.37 million. There has been a net change of [ 130% ] which is primarily due to depreciation. As I mentioned earlier, the company's [ debtor ] position against OMR 4 million of last year now is OMR 3.75 million, which is a far better growth in spite of 17% sales increase, [ debtor ] has reduced by 7%. [indiscernible] of assets and total trade with other receivables as against OMR 4.54 million is now OMR 4.2 million. Position of [indiscernible] and other payables as against of OMR 5.83 million is now OMR 5.5 million, which is again a reduction of 5%, which seems to be a healthy sign as on 30th of September 2024. This was from our side. We are now open for question and answer session. As there are no questions or answers, we are now stopping this meeting. Thank you.