Mendeez Financial Command Centre

Overview — Real Numbers

All figures from live GTech (25,584 SKUs, 9,039 sales) plus joined cost data.

Total Monthly Revenue

PKR 3.20 Cr

Retail PKR 2.16 Cr + Wholesale/E-com PKR 1.03 Cr

Annualized Run Rate

PKR 38.38 Cr

+37% vs FY24-25

Real Gross Margin

69.0%

From joined cost data — 17pts ↑ vs FY24-25

Monthly Gross Profit

PKR 2.21 Cr

Real cost from MasterData

Total AP Outstanding

PKR 90.41 Cr

Top 50 vendors

Siddiqsons Exposure

PKR 42.23 Cr

47% of total AP — concentration risk

Inventory Value (est)

PKR 18.25 Cr

148,238 units · PKR 1,231 avg cost

Catalog Size

25,584

SKUs in MasterData

90-Day Daily Sales Trend

Sales by Category (last 30 days)

🔴 Critical concentration risk: Siddiqsons Industries holds 47% of all your trade payables. If they call in their credit, the business has a fundamental cash problem. Renegotiate payment terms with Siddiqsons this week. Diversify away from them over the next 6 months.

✅ Strong news: Real margin is 69% (vs the 51% I'd been estimating). E-com adds PKR PKR 1.03 Cr/month on top of retail. Annualized PKR PKR 38.38 Cr is +37% vs FY24-25 — the topline is growing, and the unit economics are healthier than the books suggested.

Stores — Real P&L

9 active retail stores · 30-day rollup · using real 69% margin

#	Store	Bills	Units	Revenue	Share	COGS	Gross Profit	Est. Fixed Cost	Contribution	Status
1	MENDEEZ DOLMEN MALL TARIQ ROAD 00100010023	564	1,763	4,500,099	20.8%	1,394,834	3,105,265	1,871,388	1,233,877	Strong
2	THE WAREHOUSE (Badar Commercia 00100010002	347	1,206	3,183,924	14.7%	986,878	2,197,046	1,324,050	872,996	Strong
3	Mendeez Malir cant 00100010018	314	1,193	3,037,799	14.0%	941,585	2,096,214	1,263,283	832,930	Strong
4	OCEAN MALL 00100010003	378	1,259	2,880,688	13.3%	892,888	1,987,800	1,197,948	789,852	Strong
5	MENDEEZ ATRIUM MALL 00100010004	284	901	2,216,543	10.2%	687,032	1,529,511	921,760	607,751	Strong
6	TARIQ ROAD 00100010008	220	803	1,869,241	8.6%	579,383	1,289,858	777,333	512,525	Strong
7	DHA CRICKET STADIUM 00100010001	186	658	1,669,504	7.7%	517,473	1,152,031	694,271	457,759	Strong
8	SQUARE ONE MALL 00100010017	243	715	1,599,331	7.4%	495,723	1,103,608	665,090	438,519	Strong
9	LUCKY ONE MALL 00100010009	137	449	685,038	3.2%	212,332	472,706	284,876	187,830	Strong

Note: Fixed cost is prorated by revenue share (60% of PKR 1.5Cr OpEx). Real per-store cost comes from Shoaib's Excel.

Sales by Category

Top categories drive 69% of revenue. Long tail (jewelry, formal shirts) selling 6-21 units/month.

Category	Bills	Units	Net Sales	% Share	Cumulative	Gross Profit (est)	Tier
Pant	751	1,278	5,656,638	26.1%	26.1%	3,903,327	Core
T Shirt	805	1,434	2,556,463	11.8%	37.9%	1,764,071	Core
Casual	511	774	2,541,624	11.7%	49.7%	1,753,831	Core
Jogger Pant	319	493	2,159,658	10.0%	59.7%	1,490,258	Core
Polo	544	822	2,080,983	9.6%	69.3%	1,435,969	Core
Pajama	275	498	1,195,495	5.5%	74.8%	824,944	Core
Boxer Brief	176	263	859,056	4.0%	78.8%	592,786	Mid
Boxer Trunk	166	230	850,297	3.9%	82.7%	586,742	Mid
Boxer Shorts	105	203	448,754	2.1%	84.8%	309,660	Mid
Shorts	90	141	429,649	2.0%	86.8%	296,477	Mid
Perfume	77	136	363,378	1.7%	88.4%	250,747	Mid
Bags	63	76	337,618	1.6%	90.0%	232,971	Mid
Vest	96	131	306,396	1.4%	91.4%	211,427	Mid
Brief	60	84	275,085	1.3%	92.7%	189,821	Mid
Shoes	34	32	211,707	1.0%	93.7%	146,087	Long tail
Ankle Socks	130	228	203,141	0.9%	94.6%	140,176	Long tail
Blazer	10	13	180,029	0.8%	95.4%	124,228	Long tail
Crew Socks	85	141	170,850	0.8%	96.2%	117,894	Long tail
Snugger Shorts	69	127	166,658	0.8%	97.0%	115,001	Long tail
Caps	57	73	159,211	0.7%	97.7%	109,863	Long tail
Glasses	35	39	124,743	0.6%	98.3%	86,078	Long tail
Formal Shirt	39	43	90,501	0.4%	98.7%	62,450	Long tail
No Show Socks	52	85	78,677	0.4%	99.1%	54,291	Long tail
Undershirt	11	18	59,332	0.3%	99.4%	40,942	Long tail
Tank Top	25	42	55,397	0.3%	99.6%	38,226	Long tail
Casual Shorts	8	11	32,890	0.2%	99.8%	22,696	Long tail
Bracelet	13	21	24,656	0.1%	99.9%	17,014	Long tail
Chains	8	6	7,450	0.0%	99.9%	5,141	Long tail
Belt	2	2	4,485	0.0%	99.9%	3,095	Long tail
Pendant	2	3	3,661	0.0%	100.0%	2,526	Long tail

Strategic question for the team: Long tail categories — Belt (2 bills), Pendant (2), Chains (8), Bracelet (13) — are we deliberate about carrying these? Either kill them or be deliberate about what role they play (cross-sell, gift, brand halo).

Operational P&L — Last 30 Days

Revenue real. COGS real (from joined MasterData). OpEx still estimated pending Shoaib's Excel.

Line	Amount (PKR)	% Revenue	Source
Revenue — Retail (SalesBI)	21,642,167	67.7%	GTech live
Revenue — Wholesale/E-com (WholeSale view, est. monthly)	10,338,050	32.3%	90-day avg
Total Revenue	31,980,217	100.0%	computed
COGS (real)	9,912,472	31.0%	From MasterData cost × Qty
Gross Profit	22,067,745	69.0%	real
Operating Expenses (est)	15,000,000	46.9%	Brand bible reference — needs Shoaib's Excel
Net Profit / (Loss)	7,067,745	22.1%	computed

Profitable at the operational level. With 69% real margin and PKR PKR 3.20 Cr monthly revenue, gross profit is PKR PKR 2.21 Cr. After PKR 1.5Cr estimated OpEx, net is PKR 70.68 L. Get the real OpEx breakdown from Shoaib — that's the single biggest uncertainty in this P&L.

Cash & 90-Day Forecast

Opening PKR 35 L (Mar-26 BS). Working capital strategy needed.

Opening Cash

PKR 35 L

Mar-26 BS · needs daily update

Monthly GP (inflow)

PKR 2.21 Cr

Monthly OpEx (est)

PKR 1.5 Cr

AP Pressure

PKR 90.41 Cr

Top 50 vendors owed

Month	Inflow (GP)	Outflow (OpEx + AP)	Net	Closing Cash	Status
Month 1	22,067,745	(105,412,828)	-83,345,083	-79,845,083	NEGATIVE
Month 2	22,067,745	(60,206,414)	-38,138,669	-117,983,753	NEGATIVE
Month 3	22,067,745	(60,206,414)	-38,138,669	-156,122,422	NEGATIVE

Working capital strategy required. AP outflow assumed at 10% then 5% per month. Real scenario depends on what you negotiate with Siddiqsons + other top vendors. The forecast is sensitive to that. Three levers: (1) push for longer terms from Siddiqsons, (2) accelerate AR collection, (3) liquidate slow inventory.

Accounts Payable — Real Picture

Total PKR 904,128,278 across top 50 vendors. Single-vendor concentration is severe.

🔴 #1 Action — Siddiqsons Ind Pvt holds PKR 42.2 Cr (47% of total AP). This single vendor relationship is the largest risk in the business. Renegotiate this week. Targets: extended payment terms (90+ days), structured payment plan, lock in terms for next 6 months.

Code	Vendor	Open Bills	Outstanding (PKR)	% of Total	Action
`S-00000132`	Siddiqsons Ind Pvt	218	422,332,496	46.7%	🔴 Reduce
`S-00000106`	Paras Fashion	200	136,016,774	15.0%	🚩 Renegotiate
`S-00000112`	Qamar Textile	80	68,858,989	7.6%	🚩 Renegotiate
`S-00000287`	Fazal Industries ( Six56 ( pvt ) Ltd )	120	19,439,017	2.2%	⚠ Monitor
`S-00000202`	Shoukat Ali Faisalabad	20	15,298,156	1.7%	⚠ Monitor
`S-00000256`	Sportify International	41	11,491,440	1.3%	⚠ Monitor
`S-00000253`	Carisons Industries (Pvt) Ltd	16	10,220,248	1.1%	⚠ Monitor
`S-00000273`	Quality Apparel	95	9,901,631	1.1%	⚠ Monitor
`S-00000308`	Shah Apparel	339	9,699,167	1.1%	⚠ Monitor
`S-00000014`	Al Makkah Fabric	20	9,446,995	1.0%	⚠ Monitor
`S-00000198`	Rehman Knitting	50	8,231,071	0.9%	OK
`S-00000305`	N.S Textile	3	7,956,150	0.9%	OK
`S-00000245`	Atrium Mall Management ( Pvt ) Ltd	70	7,950,468	0.9%	OK
`S-00000172`	COMPANY PURCHASER FAWWAD	67	7,907,967	0.9%	OK
`S-00000328`	Gul Khan/Amin Khan Fabrics ( Tariq Road	5	6,696,014	0.7%	OK
`S-00000096`	Nadeem Ent	133	6,496,985	0.7%	OK
`S-00000081`	Marhaba Ent (Banaras)	20	6,271,405	0.7%	OK
`S-00000306`	Fahad Feroze ( Chipa Ent, )	51	6,239,025	0.7%	OK
`S-00000261`	MY knitting	38	5,934,479	0.7%	OK
`S-00000243`	Abdullah Suzuki Fare	40	5,589,950	0.6%	OK
`S-00000176`	MQZ	9	5,486,417	0.6%	OK
`S-00000215`	JS Bank Credit Card	4	5,430,000	0.6%	OK
`S-00000235`	G-Tech Software	39	5,124,500	0.6%	OK
`S-00000050`	G.K Fabric	5	4,907,822	0.5%	OK
`S-00000099`	New Chuadary Hosiery	12	4,898,478	0.5%	OK

Accounts Receivable

Top 50 customers · PKR 1,232,994,237 outstanding

Note: Total AR (PKR PKR 123.30 Cr) is much higher than the BS Mar-26 Trade Debtors of PKR 14.5M. This likely includes long-standing receivables, advances against future invoices, or related-party balances. Need Shoaib to walk through which AR is collectible vs. effectively bad debt.

Code	Customer	Open Bills	Outstanding (PKR)
`0010003`	BLUE EX	49,745	171,883,653
`0060015`	Dolmen Mall Tariq Road	311	106,977,518
`0060002`	Badar Commercial	483	102,203,141
`0060001`	Atrium Mall Shop	452	100,890,279
`0010017`	PostEx	23,522	87,303,675
`0060007`	Tariq Road Shop	461	87,154,074
`0060014`	SAFA Mall Kiosk - Malir Cant	340	62,409,847
`0060003`	Khadda Market (Shop-1)	469	60,177,854
`0060013`	Squar One	348	56,696,562
`0060016`	Ocean Mall - Shop	302	55,760,145
`0070010`	Trax Courier	13,547	45,993,450
`0010013`	Call Courier	12,566	43,168,765
`0060017`	KARIM BLOCK LAHORE	208	37,229,889
`0060004`	Lucky One Kiosk	450	30,982,387
`0010021`	Rider	7,150	28,724,941

Inventory Position

148,238 units total · avg cost PKR 1,231/unit

Total Inventory Value (est)

PKR 18.25 Cr

148,238 units

Inventory ÷ Monthly Sales

5.7×

Above 3× policy ceiling

Catalog Size

25,584

Active SKUs in MasterData

Average SKU Cost

1,231

Across 25,584 products

Inventory is ~6× monthly sales. That's well above the 3× policy ceiling from your brand bible. Either liquidate aged stock or slow purchasing. Sufyan + Bilal need to identify what's been sitting > 90 days.

Purchase Orders — Audit View

199 POs in last 180 days · 10 above PKR 500K approval threshold

✅ Good news: The PO approval rule IS being used. 10 POs above PKR 500K in last 180 days. Total PO value: PKR 2.59 Cr.

Large POs (>PKR 500K) — last 180 days

PO No	Supplier	Date	Amount (PKR)	Approval
`FOW-000410`	Al Makkah Fabric	2026-01-05	1,851,660	✓
`FOW-000406`	Gul Khan/Amin Khan Fabrics ( Tariq	2025-12-22	856,960	✓
`FOW-000396`	Tahir Traders,	2025-12-01	522,625	✓
`FOW-000394`	Younus Khan ( Tariq Road )	2025-12-01	969,380	✓
`FOW-000383`	KRM Khan Fashion Fabric	2025-11-27	645,600	✓
`FOW-000388`	R.Jee Fabric	2025-11-27	1,084,538	✓
`FOW-000389`	Al Makkah Fabric	2025-11-27	500,760	✓
`FOW-000378`	Azam Traders	2025-11-21	566,820	✓
`POP-000145`	NAUMAN MUSTAFA ENTERPRISES	2026-03-30	820,572	✓
`POP-000141`	Carisons Industries (Pvt) Ltd	2026-01-14	504,610	✓

🔍 Internal Auditor — Findings

Live findings from real GTech data + GTech master data quality issues

Critical

2

Warnings

4

Cleanup

10

Dormant codes to retire

Positive

2

Findings

🔴 CRITICAL: Siddiqsons single-vendor exposure PKR 42.2 Cr

47% of total AP sits with one vendor. If they call in their credit, we cannot pay. Action this week: renegotiate terms with Siddiqsons, lock in extended payment structure.

🔴 CRITICAL: Lucky One Mall — sustained loss

90-day sales PKR 2.06M (PKR 685K/month). Last in the rankings. Even with 69% margin = ~PKR 470K GP/month. Fixed cost likely PKR 700K+/month (rent + salaries). Decision by 31 May: close, relocate, or hard lease renegotiation.

⚠ AR significantly higher than BS Trade Debtors

View shows PKR PKR 123.30 Cr AR. BS Mar-26 showed PKR 14.5M. Big delta — likely related-party or stale receivables. Ask Shoaib for the reconciliation.

⚠ Inventory at 6× monthly sales

PKR PKR 18.25 Cr inventory vs PKR PKR 3.20 Cr monthly sales = 6× cover. Brand bible policy is 3× max. Identify aged stock and liquidate.

⚠ Wholesale customer code always blank

All 100 wholesale bills in the sample have empty Customer field. Means the wholesale invoices aren't tagged to a customer code. For FBR purposes, this may cause an audit flag. Ask Shoaib to assign a dedicated dummy customer code (e.g. WHOLESALE-ECOM).

⚠ 10 dormant retail location codes (zero sales in 90 days)

Likely closed B2B placements still active in GTech: SPAR HYDERI, SPAR SHARFABAD, ARK SUPER MART, HABBIT MARKITT, HYDERI SUPER MARKET, TEEM MART, CREEK MARK, MANDEEZ EMPORIUM MALL, North Walk, KARIM BLOCK. Mark as Inactive to clean reports.

✅ POSITIVE: Real gross margin 69% — much higher than estimate

Joined cost data shows actual margin is 17 points above the FY24-25 baseline of 51%. Mendeez is more profitable per unit than the books suggested. Possible reasons: mix shift to higher-margin items, price increases, or improved sourcing.

✅ POSITIVE: Revenue +37% YoY trajectory

Annualized PKR PKR 38.38 Cr vs FY24-25 PKR 28 Cr. Including the previously-hidden e-com (PKR PKR 1.03 Cr/month), Mendeez is meaningfully larger than the official P&L showed.

Dormant Location Cleanup List

Code	Name	Status in master	Suggested Action
`00100010011`	North Walk	Active	🚩 Closed retail — clean up
`00100010012`	SPAR HYDERI	Active	🚩 Closed retail — clean up
`00100020005`	DEFECT STOCK	Active	Internal — OK
`00100010006`	SAMPLING	Active	Internal — OK
`00100010010`	EXHIBITION	Active	Internal — OK
`00100020001`	Factory	Active	Internal — OK
`00100010007`	PHOTOSHOOT	Active	Internal — OK
`00100010016`	HABBIT MARKITT	Active	🚩 Closed retail — clean up
`00100010005`	TWH INVENTORY	Active	Internal — OK
`00100010013`	MANDEEZ EMPORIUM MALL	Active	🚩 Closed retail — clean up
`00100010014`	SPAR SHARFABAD	Active	🚩 Closed retail — clean up
`00100010015`	ARK SUPER MART	Active	🚩 Closed retail — clean up
`00100010020`	HYDERI SUPER MARKET	Active	🚩 Closed retail — clean up
`00100010021`	TEEM MART	Active	🚩 Closed retail — clean up
`00100010022`	CREEK MARK	Active	🚩 Closed retail — clean up
`00100010024`	KARIM BLOCK	Active	🚩 Closed retail — clean up
`00100010019`	E-COMMERCE	Active	Internal — OK