Al-noor Sugar Mills LimitedPSX: ALNRS

Transmission of Quarterly Financial Statements for the Period End 30-06-2026

Jul 29, 2026 at 9:56 AM UTC · Issued by Al-noor Sugar Mills Limited

AL-NOOR SUGAR MILLS LIMITED

3rd Quarterly Results for the period 1st October 2025 to 30th June, 2026

AI-NOOR

SUGAR MILLS LTD.

Company Information

BOARD OF DIRECTORS

MR. ZIA ZAKARIA

MR. NOOR MUHAMMAD ZAKARIA MR. MUHAMMAD SALIM AYOOB MR. ASAD AHMAD MOHIUDDIN MS. MUNIFA AYOOB

MR. FARRUKH YASEEN (Independent Director)

MR. NAEEM AHMED SHAFI (Independent Director)

BOARD AUDIT COMMITTEE MR. NAEEM AHMED SHAFI MR. ZIA ZAKARIA

MS. MUNIFA AYOOB

HUMAN RESOURCE AND REMUNERATION COMMITTEE MR. NAEEM AHMED SHAFI

MR. ZIA ZAKARIA

MR. MUHAMMAD SALIM AYOOB

REGISTERED OFFICE

CHIEF FINANCIAL OFFICER

MR. MUHAMMAD HANIF CHAMDIA

COMPANY SECRETARY

MR. MOHAMMAD YASIN MUGHAL

FCMA

AUDITORS

M/S KRESTON HYDER BHIMJI & CO.

Chartered Accountants

LEGAL ADVISOR MR. IRFAN

Advocate

96-A, Sindhi Muslim Society, Karachi-74400 Tel: 34550161-63 Fax: 34556675

Website: https://www.alnoorsugar.co

REGISTRAR & SHARES REGISTRATION OFFICE

C & K Management Associates (Pvt) Ltd.

M-13, Progressive Plaza, Civil Lines Quarter Near P.I.D.C., Beaumont Road, Karachi-75530

FACTORY

Shahpur Jahania, P.O. Noor Jahania, Taluka Moro,

District Shaheed Benazir Bhutto Abad (Nawabshah)

PRODUCTION DATA	June 30, 2026		June 30, 2025
Sugarcane crushed (M Tons)	886,406		747,944
Sugar produced (M Tons)	90,853		71,515
Sugar recovery percentage	10.25		9.56
Molasses produced (M Tons)	45,580		39,072
MDF Production (Cubic Meters)	52,666		50,733
FINANCIAL DATA (Rupees in thousands)
Sales revenue	10,497,542	11,535,860
Cost of sales	(8,790,284)	(9,838,560)
Gross profit	1,707,258	1,697,304
Distribution cost	(142,939)	(162,847)
Administrative expenses	(726,950)	(808,936)
Other charges	(11,328)	(14,225)
Financial cost	(731,981)	(777,903)
Other income	52,833	187,907
Share of profit from associate	81,356	101,911
Profit before levies and income tax	228,249	223,211
Levies	(152,853)	(47,902)
Profit before income tax Provision for income tax Current	75,396 -	175,309 (118,348)
Deferred	(47,840)	(16,986)
Profit after taxation	27,556	39,975
Earnings per share	Rs.1.35	Rs.1.95
Segment-wise Performance
SUGAR DIVISION

DIRECTORS' REPORT

Dear Members Asslamu-o-Alaikum

The Board of Directors' of your company is pleased to place before you the unaudited accounts for the period ended June 30, 2026.

Salient features of production and Financial Statements are as under:

During the period under review, the sugarcane crop was significantly better than in the corresponding period last year, primarily on account of favorable weather conditions and improved availability of water from the national irrigation system. This, in turn, translated into higher cane availability, which supported a marked increase in both crushing volume and sugar production compared to the previous year. Sugar production rose by 27% year-on-year, while the recovery rate improved to 10.25% from 9.56% achieved during the previous year. The Company continued to focus closely on operational efficiency and cost discipline in order to safeguard profitability.

MDF BOARD DIVISION

The MDF Board division also performed satisfactorily during the period, producing board across a range of thicknesses to meet varying customer requirements. Production increased by 3.81% year-on-year, supported by the timely availability of raw material in the required volumes and by steady demand from the market. The division continues to benefit from consistent operational performance and an established customer base.

FUTURE OUTLOOK

Looking ahead, the sugarcane crop in the country is expected to improve further in the next crushing season, driven by higher prices and timely payments made to growers during the current season. The next crushing season is likely to see sugar production substantially exceeding domestic requirements, adding to the surplus already carried over from the current season, which continues to weigh on domestic prices. In this context, the Sugar Mills Association has approached the Government to permit the export of surplus sugar which would be a positive measure for all the stake holders.

The outlook for the MDF division continues to appear sustainable, with the division's products having established acceptability in both domestic and international markets, and management remains confident of maintaining this performance going forward.

BOARD OF DIRECTORS

The tenure of the Board of Directors ended on March 30, 2026. At the Extraordinary General Meeting held on that date, the shareholders elected seven directors, as reported in the half-yearly report for the period ended March 31, 2026, for a further term of three years. There has been no change in the composition of the Board since that date.

The Board of Directors wishes to assure its stakeholders that dedicated efforts continue to be made towards achieving better results, Insha'Allah. We pray to the Almighty to guide and assist us in achieving our desired goals. (Ameen)

NOOR MUHAMMAD ZAKARIA

Chief Executive Officer

Karachi: July 28, 2026

ZIA ZAKARIA

Director/ Chairman

	8,917,368
	19,926
	3,338
	1,991,062
	11,979
	12,524
10,956,197
643,210
8,694,385
55,087
173,313
9,969
97,701
3,061
605,578
665,644
10,947,948
21,904,145
500,000
204,737
1,000,000
1,759,922
(1,550)
4,132,495
7,095,604
3,197,952
11,372
2,096,319
5,305,643
1,749,133
268,112
7,066,747
14,724
401,093
3,090
9,502,898
-
21,904,145

AS AT JUNE 30, 2026 CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION Un-Audited Audited June September 2026 2025

ASSETS

NON - CURRENT ASSETS

Property, plant and equipment Right-of-use assets

Intangible asset

Long term investments

Long term loans to employees Long term deposits

Note (Rupees in thousand)

11,081,142

CURRENT ASSETS

Stores, spare parts and loose tools Stock in trade

Trade debts

Loans and advances

Trade deposits and short term prepayments Other receivables

Short term investments

Income tax refundable-net of provision Cash and bank balances

5,223,937

16,305,079

EQUITY AND LIABILITIES

SHARE CAPITAL AND RESERVES

Authorised Capital

50,000,000 ordinary shares of Rs.10 each

Issued, subscribed and paid-up capital Revenue Reserves

General reserve Unappropriated profit

Share of associate's unrealised (loss) on remeasurement of associate's investments at fair value through

other comprehesive income (OCI)

Surplus on revaluation of property, plant and equipment

500,000

204,737

1,000,000

1,652,437

(1,550)

4,294,319

7,149,943

NON-CURRENT LIABILITIES

Long term financing

Lease liability against right-of-use asset Deferred taxation

3,843,918

CURRENT LIABILITIES

Trade and other payables Accrued finance cost Short term borrowings Unclaimed dividend

Current portion of long term financing

Current portion of lease liability against right-of-use asset

CONTINGENCIES AND COMMITMENTS

5,311,218

16,305,079

The annexed notes from 1 to 17 form an integral part of these condensed interim financial statements.

ZIA ZAKARIA

Chairman

NOOR MOHAMMAD ZAKARIA

Chief Executive Officer

MUHAMMAD HANIF CHAMDIA

Chief Finance Officer

1,606,471

113,341

2,936,417

11,340

642,205

1,444

1,795,440

-2,048,478

678,084

3,164,002

201,717

208,544

6,773

47,927

3,243

461,526

452,121

9,133,995

3,830

2,559

1,929,502

5,771

5,485

For the Nine Months

For the quarter

From October 01

to June 30

From April 01

to June 30

2026

2025

2026

2025

10,497,542	11,535,860	3,911,417	4,065,965
(8,790,284)	(9,838,556)	(3,511,663)	(3,518,368)
1,707,258 707	1,697,304 -	399,754 -	547,597
(142,939)	(162,847)	(64,392)	(45,043)
(726,950)	(808,936)	(217,929)	(240,968)
(11,328)	(14,225)	15,224	451
(881,217)	(986,008)	(267,097)	(285,560)
826,748	711,296	132,657	262,037
52,126	187,907	17,459	16,199
878,874	899,203	150,116	278,236
(731,981)	(777,903)	(346,718)	(307,838)
146,893	121,300	(196,602)	(29,602)
81,356	101,911	30,325	45,933
228,249	223,211	(166,277)	16,331
(152,853)	(47,902)	(152,853)	(35,369)
75,396	175,309	(319,130)	(19,038)
-	(118,348)	179,477	(14,962)
(47,840)	(16,986)	88,737	99,666
(47,840)	(135,334)	268,214	84,704
27,556	39,975	(50,916)	65,666
1.35	1.95	(2.49)	3.21

CONDENSED INTERIM STATEMENT OF PROFIT AND LOSS ACCOUNT (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED 30TH JUNE, 2026 (Rupees in '000) Note

Sales

Cost of sales Gross profit

Profit from trading activity

Distribution cost Administrative expenses Other expenses

Operating Profit Other income

Finance cost

Share of profit from associates

Profit / (loss) before levies and income tax Levies

Profit / (loss) before income tax

Income tax

-Current

-Deferred

Profit / (loss) for the period

Earning per share / (loss)

- Basic and diluted- (Rupees)

The annexed notes from 1 to 17 form an integral part of these condensed interim financial statements.

ZIA ZAKARIA

Chairman

NOOR MOHAMMAD ZAKARIA

Chief Executive Officer

MUHAMMAD HANIF CHAMDIA

Chief Finance Officer

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED 30TH JUNE, 2026 For the Nine Months For the quarter October-June April-June 2026 2025 2026 2025 (Rupees in '000) Profit / (loss) for the period Other comprehensive income Total Comprehensive income / (loss) 27,556 39,975 (74,413) 65,666 - - - - 27,556 39,975 (74,413) 65,666

The annexed notes from 1 to 17 form an integral part of these condensed interim financial statements.

ZIA ZAKARIA

Chairman

NOOR MOHAMMAD ZAKARIA

Chief Executive Officer

MUHAMMAD HANIF CHAMDIA

Chief Finance Officer

204,737	1,000,000	1,323,112	(2,225)	4,496,858	7,022,482

-	-	-	-	-	-
-	-	39,975	-	-	39,975
-	-	-	-	-	-

Company's Revaluation Surplus -		-	147,750	-	(147,750)	-
Shares of associates incremental depreciation of revaluation surplus -		-	18,840	-	(18,840)	-
-		-	166,590	-	(166,590)	-
Balance as at June 30, 2025 - (Unaudited) 204,737		1,000,000	1,529,677	(2,225)	4,330,268	7,062,457

Balance as at October 01, 2025 - (Audited) 204,737		1,000,000	1,652,437	(1,550)	4,294,319	7,149,943
During the nine month ended June 30, 2026
Transaction with owners Final dividend for the year ended September 30, 2025 @ Rs 4.00 per share			(81,895)			(81,895)
Total comprehensive income for the nine month ended June 30, 2026 Profit for the period	-	-	27,556	-	-	27,556
Other comprehensive income	-	-	-	-	-	-
	-	-	27,556	-	-	27,556
Transfer from surplus on revaluation of property, plant and equipment on account of incremental depreciation net of deferred tax from:
Company's Revaluation Surplus	-	-	138,709	-	(138,709)	-
Shares of associates incremental depreciation of revaluation surplus	-	-	23,115	-	(23,115)	-
	-	-	161,824	-	(161,824)	-
Balance as at June 30, 2026 - (Unaudited)	204,737	1,000,000	1,759,922	(1,550)	4,132,495	7,095,604

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED 30TH JUNE, 2026

Share of

Issued, Subscribed & paid up capital

General reserves

Un-appropriated profit

associate's un s)

realized (los

on remeasurement of investment

at fair value through OCI

Revaluation surplus on property, plant and equipment

Total

(Rupees in thousand)

Balance as at October 1, 2024 - (Audited) During the nine month ended June 30,2025

Transaction with owners

Final dividend for the year ended September 30, 2023 @ Rs 9.00 per share

Total comprehensive income for the nine month ended June 30, 2025

Profit for the period

Other comprehensive income

Transfer from surplus on revaluation of property, plant and equipment on account of incremental depreciation net of deferred tax from:

The annexed notes from 1 to 17 form an integral part of these condensed interim financial statements.

ZIA ZAKARIA

Chairman

NOOR MOHAMMAD ZAKARIA

Chief Executive Officer

MUHAMMAD HANIF CHAMDIA

Chief Finance Officer

CONDENSED INTERIM CASH FLOW STATEMENT (UNAUDITED) FOR THE NINE MONTHS PERIOD ENDED 30TH JUNE, 2026 June June Note 2026 2025

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before income tax and levies Adjustments for:

Depreciation of property, plant and equipment Depreciation of right-of-use assets Amortization of intangible assets

Gain on disposal of property, plant and equipment Finance cost

Interest on lease liability against right-of-use assets Reversal provision against export subsidy upon realization Share of profit from associates

(Rupees in thousand)

223,211

5.1

980,603

Cash generated before working capital changes 1,203,814

(Increase) / decrease in current assets Stores, spare parts and loose tools Stock in trade

Trade debts

Loans and advances

Trade deposits and short term prepayments Other receivables

(2,389,552)

Increase in current liabilities

Trade and other payables 771,658

(414,080)

Payments for

Levies and income tax Finance cost

(Increase) / decrease in long-term loans to employees (Increase) in long-term deposits

(1,139,817)

Net cash (used in ) operating activities (A) (1,553,897)

B. CASH FLOWS FROM INVESTING ACTIVITIES

Addition in property, plant and equipment Addition in intangible asset

Addition in right to use assets

Sale proceeds from disposal of property, plant and equipment Short term investment-net

Dividend received

Net cash used in investing activities (B)

(176,226)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long term financing Repayment of long term financing Net increase in short-term borrowings
Payments for lease liability against right of use asset Dividend paid
Net cash generated from financing activities (C)
Net (decrease) / increase cash and cash equivalents
Cash and cash equivalent at the beginning of the period
Cash and cash equivalents at the end of the period Cash and cash equivalent comprise;
- Cash and bank balances
- Short term borrowings - running finance

4,613,724

2,883,601

(2,577,593)

306,008

528,996

(222,988)

306,008

The annexed notes from 1 to 17 form an integral part of these condensed interim financial statements.

ZIA ZAKARIA

Chairman

NOOR MOHAMMAD ZAKARIA

Chief Executive Officer

MUHAMMAD HANIF CHAMDIA

Chief Finance Officer

200,000

(292,488)

4,710,422

(3,972)

(238)

(182,222)

(567)

-5,265

(21,800)

23,098

(290,463)

(847,876)

643

(2,121)

(59,224)

(2,831,210)

281,857

(109,424)

(8,146)

336,595

445,496

5,825

520

440

776,411

1,492

(147,670)

(101,911)

228,249

1,096,240

1,324,489

(5,366,618)

142,662

(3,899,467)

(734,510)

(4,633,977)

(225,884)

4,650,089

(209,772)

(484,297)

(694,069)

665,644

(1,359,713)

(694,069)

1,850,000

(688,600)

3,554,183

13,017

(78,511)

(240,659)

(1,988)

(22,417)

19,200

182

19,797

(144,052)

(577,211)

(6,208)

(7,039)

34,874

(5,530,383)

146,630

35,231

(3,196)

(49,774)

451,030

6,320

1,209

(12,944)

731,345

636

-(81,356)

NOTES TO THE CONDENSED INTERIM FINANCIAL INFORMATION FOR THE NINE MONTHS PERIOD ENDED 30TH JUNE, 2026

THE COMPANY AND ITS OPERATIONS
Al-Noor Sugar Mills Limited (the Company) was incorporated in Pakistan as a public limited company on August 08,1969 and its shares are quoted at the Pakistan Stock Exchange Limited. The Company owns and operates sugar, medium density fiber (MDF) board and generation of power units which are loacated at Shahpur Jahania, District Shaheed Benazirabad and District Noushero Feroze in the Province of Sindh. The registered office of the Company is located at 96-A, Sindhi Muslim Cooperative Housing Society,Karachi,Sindh. The Sugar mill occupies an area of 150.34 acres and MDF board division occupies an area of 76.00 acres.
BASIS OF PREPARATION
1. STATEMENT OF COMPLIANCE
  1. These condensed interim financial statements have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprise of :
    - International Accounting Standard (IAS) 34, "Interim Financial Reporting", issued by the International Accounting Standards 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 requirements of IAS 34, the provisions of and directives issued under the Companies Act, 2017 have been followed.
  2. These condensed interim financial statements does not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Company's annual financial statements for the year ended September 30,2025.
2. BASIS OF MEASUREMENT
  1. These condensed interim financial statements comprise of the condensed interim statement of financial position as at June 30, 2026 and the condensed interim statement of profit or loss, condensed interim statement of comprehensive income, condensed interim statement of changes in equity and the condensed interim statement of cash flows together with notes forming part thereof for the nine month then ended which have been subjected to review and are not audited. This also includes the condensed interim statement of profit or loss and the condensed interim statement of comprehensive income for the quarter ended June 30, 2026. The comparative statement of financial position presented in these condensed interim financial statements has been extracted from the audited financial statements of the Company for the year ended September 30, 2025, whereas the comparative condensed interim statement of profit or loss, condensed interim statement of comprehensive income, condensed interim statement of changes in equity and condensed interim statement of cash flows figures have been extracted from the unaudited condensed interim financial statements for the nine month ended June 30, 2026.
    9
3. CHANGES IN ACCOUNTING STANDARDS, INTERPRETATIONS AND PRONOUNCEMENTS
  1. NEW STANDARDS, AMENDMENTS TO APPROVED ACCOUNTING STANDARDS AND NEW INTERPRETATIONS
    There are certain amendments to approved accounting standards which are mandatory for accounting periods beginning on or after October 01, 2025 but are considered not to be relevant or have any material effect on the Company's financial reporting and therefore, have not been disclosed in these condensed interim financial statements.
  2. NEW ACCOUNTING STANDARDS / AMENDMENTS AND IFRS INTERPRETATIONS THAT ARE NOT YET EFFECTIVE
  There are certain new standards and amendments that will be applicable to the Company for it's annual periods beginning on or after October 01, 2026. The new standards include IFRS 18 Presentation and Disclosure in Financial Statements and IFRS 19 Subsidiaries with Public Accountability: Disclosures both with applicability date on January 01, 2027 as per IASB.
  There are certain amendments to published accounting and reporting standards that includes those made to IFRS 9 and IFRS 7 which clarify the date of recognition and derecognition of financial assets and financial liabilities and which are applicable effective January 01, 2026.
SEASONALITY OF OPERATIONS
1. Due to the seasonal availability of sugarcane, the manufacture of sugar is carried out during the period of availability of sugarcane and costs incurred/accrued upto the reporting date have been accounted for. Accordingly, the costs incurred/accrued after the reporting date will be reported in the subsequent interim and annual financial statements. The sugarcane crushing season normally starts from November and lasts till March each year.
MATERIAL ACCOUNTING POLICY INFORMATION
1. The accounting policies and methods of computation followed for the preparation of these condensed interim financial statements are consistent with those followed in the preparation of the Company's annual financial statements for the year ended September 30, 2025.
2. Certain amendments to existing IFRSs, effective for periods beginning on or after October 01, 2025, do not have any impact on the condensed interim financial statements, and are therefore not disclosed.
3. The preparation of these condensed interim financial statements requires management to make estimates, assumptions and use of judgements that affect the application of policies and reported amounts of assets and liabilities and income and expenses. Estimates, assumptions and judgements are continually evaluated and are based on historical experience and other factors, including reasonable expections of future events. Revisions to accounting estimates are recognized prospectively commencing from the period of revision. Judgements and estimates made by the management in the preparation of these condensed interim financial statements are the same as those that were applied to financial statements as at and for the year ended September 30, 2025.

Note Unaudited June 30,

(17,588)

(141,946)

31,801

209,645

17,588

141,946

84,218

-8,517

51,674

2026 Audited September 30, 2025

PROPERTY PLANT AND EQUIPMENT
Operating fixed assets 5.1
Capital work in progress 5.2
1. Operating Fixed Assets:
  Opening Net Book Value (NBV)
  Direct Additions during the period/year
  Plant and Machinery Furniture,Fixture and Fittings Office Equipment
  Vehicles
  Transfer from CWIP during the period/year
  Residential quarters Non factory building Factory building Plant and machinery Office Equipment
  Net Book Value of Asset disposed off during the period/year
  Vehicles
  Depreciation Charged for the period/year
  Closing Net Book Value
2. Capital Work in Progress Opening balance

Addition during the period/year

Civil works

Plant and machinery

Capitalization during the period/year

Civil works

Plant and machinery

Closing Balance Rupees in '000

8,873,504 43,864 8,917,368 8,969,290
91,061 1,108 3,032 26,528
121,729
4,883 3,232 5,456 225,732 469
239,772 (6,256) (451,030)
8,873,504
164,705
118,930 -
118,930
(3,232) (236,540)
(239,772)
43,864

8,969,290

164,705 9,133,995

9,270,303

144,409

159,534

(3,176)

(601,780)

8,969,290

82,793

241,446

(159,534)

164,705

6. RIGHT OF USE ASSETS
Opening balance	3,830	11,597
Addition during the period/year	22,417	-
Depreciation during the period/year	(6,320)	(7,767)
	19,926	3,830
7. INTANGIBLE ASSETS
Opening balance	2,559	1,510
Addition during the period/year	1,988	2,015
Amortization during the period/year	(1,209)	(966)
	3,338	2,559
8. LONG TERM INVESTMENTS
Investment in associated undertakings:-

For the nine Months
From October 01 to June 30
Shahmurad Sugar Mills Limited	Al Noor Modaraba Management (Pvt) Limited	Total	Total
		June 30, 2026	2025

Opening balance

1,927,638

1,864

1,929,502

1,832,533

Share of profit of associate for the period / year

81,356

142,334

Shares of associate's unrealized gain on remeasurement of associate's investment at fair value through OCI

Shares of associate's tax rate impact related to its surplus on revaluation of property, plant and equipment

Dividend received during the period / year

- - - 832

- - - -

(19,797) - (19,797) (46,197)

Unaudited Audited June 30, September 30, 2026 2025 Rupees in '000

---------------Unaudited--------------

Rupees in '000

Audited

61,560

1,989,198

1,864

61,560

1,991,062

96,969

1,929,502

8.1. The Company holds 15.625% (September 2025:15.625%) interest in Shahmurad Sugar Mills Limited and holds 14.285% (September 2025:14.285%) interest in Al-Noor Modaraba Management (Pvt) Ltd. Since the financial statements of Al Noor Modaraba Management (Pvt) Limited are not prepared except on year end June 30; and are not material hence no effect of results of Al-Noor Modaraba Management (Pvt) Ltd has been taken in these condensed interim financial statements, however in the case of Shahmurad Sugar Mills Ltd, the share of profit has been taken on the basis of its reviewed condensed interim financial statements for the nine month ended June 30, 2026.

Letters of credit
Stores	14,919	134,447
Raw Material	-	190,013
Machinery	39	31,050
	14,958	355,510

Unaudited
For the nine month From October 01 to June 30
2026	2025

Unaudited
For the quarter From April 01 to June 30
2026	2025

2,331,152

13,965,154

3,792,383

12,439,239

9,373,058

1,644,627

8,605,700

1,305,734

16,296,306

(7,506,022)

16,231,622

(6,393,066)

9,838,556

11,017,685

(7,506,022)

9,911,434

(6,393,066)

3,518,368

8,790,284

3,511,663

CONTINGENCIES AND COMMITMENTS
1. Contingencies
  There is no change in contingencies as reported in note 26 of the annual financial statements of the Company for the year ended September 30, 2025 except for the below:
  1. In August 2021, the Competition Commission of Pakistan (CCP) imposed a penalty of Rs. 575 million on the Company in respect of alleged collusive activities and cartelization. Pakistan Sugar Mills Association (PSMA) and the Company along with other sugar mills filed an appeal against the said order and obtained a stay order from the Honor'able Sindh High Court. Subsequently, on 21 May 2025, the Competition Appellate Tribunal (CAT) remanded the matter back to the CCP, which was challenged before the Honor'able Supreme Court of Pakistan. On 18 September 2025, the Honor'able Supreme Court set aside the order of the CAT and, thereafter, on February 24, 2026, dismissed the CCP's review petition, thereby upholding its earlier judgment and rendering the penalty ineffective.
    Unaudited Audited June 30, September 30, 2026 2025 Rupees in '000
2. Commitments as on the balance sheet date are as under:-

(Rupees in '000)

10. COST OF SALES

Opening stock of finished goods Cost of goods manufactured

Closing stock of finished goods

	Unaudited For the nine month From October 01 to June 30
Transactions:	2026		2025
Relationship with the company	Natrue of Transactions	Rupees in '000
Associates Shahmurad Sugar Mills Ltd	Sale of goods	1,522,099	965,317
	Purchase of goods	-	4,968
	Dividend received	19,797	23,098
	Dividend paid to associates	2,463	-
	Share of profit in associates	81,356	101,911
Reliance Insurance Company Ltd	Insurance premium paid	35,000	51,694
	Insurance claim received	14,284	30,016
Other Related Parties Directors' and key management personnel	Director's remuneration	36,179	40,777
	Executives remuneration	197,420	172,916
	Directors meeting fee	575	550
Staff provident fund	Contribution made during period including directors	30,065	30,006

Relationship with the Company	Nature of Transactions Rupees in '000
Associates
Shahmurad Sugar Mills Ltd	Trade debts	31,311	-
	Trade and other payables	16,787	5,042
Reliance Insurance Company Ltd	Prepayments	9,745	24,690
Staff provident fund	Trade & other payables	6,626	6,924
Reliance Insurance Company Ltd	Insurance claim receivable	27	12,836

Stock of refined sugar amounting to Rs.5,707 Million (June 2025:Rs.5,504 Million) has been pledged against cash finance facilities and Murabaha/Istisna arrangements.
Stock of bagasse valued at aggregate net realizable value of Rs.224.074 million. ( June 2025: Rs.175.108 million)

11. TRANSACTIONS WITH RELATED PARTIES

The related parties comprise associated entities, staff retirement funds, directors and key management personnel. The transaction and balances of related parties during the period/as at period end are given below:

Balances

Audited September 30, 2025

Unaudited June

30, 2026

- Financing - Long tern	2,57t,II1	62g,841	t,197,952	1,589,583	848,061	2,437,644
- Financing • Short tern	4,@4,346	2,462,401	7,066,747	936,418	1,999,999	2,936,417
- Financing - Lease liability		11,37z	1t,Jn	-	1,444	1,4«
- Mark up accnJed	1S3,3ZS	74,782	26g,112	60,939	fi2,402	113,341
Statement of l'inancial Position - asset Side - Long tern inestments	1,99t,M	-	1,g91,062	1,929,502	-	1,929,502
- Short tern inestments	3,%1	-	3,061	3,061	181	3,242
	309,147	356,g97	665,644	257,630	174,8fi2	432,482
		30-Jun-26			30-Jun-25
	Islamic )ConvenfionaI) rotal Islamic Conentional) Total

- Profit on disposal of fixed asset

12,944

- 12,944

440

- Liabilities written back

- Warehouse income Exchange gain/loss onExport

- 267

234

Rebate on export subsidy

- -

147,670

AI-NOOR

SUGAR MILLS LTD.

- Reenue earned tom Shariah compliant business segment

- Beak-up d late payments or liquidated damages

- Gain or loss or dividend earned on inestments

- Gain or loss or dividend earned on share of profit tom associate

- Pfoft earned from bank deposits, bank balances or TDRs

- Exchange gain net earned fiom actual currency

- Exchange gain earned using conentionaI deriyatiw financial instruments

- Pfoft paid on financing

- Tdal Interest earned on any conentionaI loan or advance

6t,560

27B

61,560

38,90'4

278

125,009

28,757

Other Intone

- Sourte and detailed beakup of other income, including beatup of other or

miscellaneous portions of other iatome iato $hariat-compliantand noa-compliant iaix*me

Bank Al-FaIah Limited

Bank AI-FaIah Limited-Islamic

Bank Islami Limited

Habib Netropolian Bank Limited Al-Baraka Bank (Pakistan) Limited S0neri Bank Limited

Meezan Bank Limited

BurjBankLimiRd Al-Neezan NRAF JS Bank Limited

Bank Al-Habib Limited

Askari Commercial Bank Limited Dubai Islamic Bank Limited

Borrowings & Bank Balances

Sindh Bank Limited

Borrowings & Bank Balances

$0-Jun-26

Sugar	MDF Board	Total
For the nine month October to June 2026 2025	For the nine month October to June 2026 2025	For the nine month October to June 2026 2025
---------------------------(Rupees in thousand)--------------------------
Unaudited

External Sales of by-product	1,343,356 974,391	2,826	2,786 1,346,182 977,177
Inter-segment transfer- Electricity	- 76,962	-	- - 76,962

RESULTS
Profit from operation
Other income
	477,132	631,858	401,742	267,345 878,874 899,203
Finance cost				(731,981) (777,903)
Share of profit from associates				81,356 101,911
Profit before levies and income tax				228,249 223,211
Levies and income tax				(200,693) (183,236)
Net profit for the period				27,556 39,975
Other Comprehensive Income / (loss)
OTHER INFORMATION
Capital expenditures 123,546	47,104	117,113	135,118	240,659	182,222
Addition in intangible assets 1,988	-	-		1,988	-
Addition in right to use assets -	-	22,417	-	22,417	-
Depreciation 208,450	222,548	242,580	222,948	451,030	445,496
Depreciation on right-of-use assets -	-	6,320	5,825	6,320	5,825
Amortization 705	520	504	-	1,209	520

13. SEGMENT INFORMATION

The Company's operations are organized and managed separately according to the nature of products produced with each segment representing a strategic business unit that offers different products and serves different markets. The sugar segment is the manufacturer of sugar and board segment is a manufacturer of Medium Density Fiber (MDF) board. The following tables represent revenue and profit information regarding business segment for the period ended June 30, 2026 and June 30, 2025 and assets and liabilities information regarding business segments as at June 30, 2026 and September 30, 2025:

Revenue

External Sales

5,514,998 6,595,360 4,982,544 4,940,500 10,497,542 11,535,860

Inter-segment transfer- Bagasse 137,869 54,303 - - 137,869 54,303

6,996,223 7,701,016 4,985,370 4,943,286 11,981,593 12,644,302

462,420	465,175	364,328	246,122	826,748	711,297
14,712	166,683	37,414	21,223	52,126	187,906

Sugar

MDF Board

Total

Unaudited

Audited

Unaudited

Audited

Unaudited

Audited

June 30,

2026

September 30,

2025

June 30,

2026

September 30,

2025

June 30,

2026

September 30,

2025

Investment in associates	1,991,062	1,929,502	-	- 1,991,062 1,929,502
Unallocated assets			-	605,578 461,526
Total assets				21,904,145 16,305,079
Liabilities
Segment liabilities	13,662,186	8,087,850 1,089,836		1,003,714 14,752,021 9,091,564
Unallocated liabilities				56,520 63,572
Total liabilities				14,808,541 9,155,136

Pakistan	10,482,852	10,719,029
Afghanistan	14,690	704,108
UAE	-	112,723
	10,497,542	11,535,860

-----------------------------------(Rupees in '000)---------------------------------

Statement of financial position Assets

Segment assets 13,397,434 8,455,338 5,910,071 5,458,713 19,307,505 13,914,051

Geographical Information

All non-current assets of the Company are located in Pakistan. The Company's local sales represent sales to various external customers in Pakistan whereas export sales of Rs. 14.69 million (2025: 816.831 million) represent sales to customers in various countries of Asia as follows:

WORKER'S PROFIT PARTICIPATION FUND, WORKERS WELFARE FUND AND TAXATION
Allocation to the Worker's Profit participation Fund, Worker's Welfare Fund and provision for taxation are provisional, final liability would be determined on the basis of annual results.
FAIR VALUES

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (i.e. an exit price) regardless of whether that price is directly observable or estimated using another valuation technique.

The Company while assessing fair values uses calcuation techinques that are appropriate in the circumstances using relevant observable data as far as possible and minimizing the use of unobservable inputs. Fair values are categorized into following three levels based on the input used in the valuation techinques:

Level 1: Quoted prices in active markets for identical assets or liabilities that can be assessed at measurement.

Level 2: Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices)

Level 3: Inputs are unobservable inputs for the asset or liability. Inputs for the asset or liability that are not based on observation market data (that is, unobservable inputs).

Financial assets and liabilities of the Company are either short term in nature or are repriced periodically therefore; their carrying amounts approximate their fair values.

DATE OF AUTHORIZATION
These condensed interim financial statements were authorized for issue by the Board of Directors of the Company in their meeting held on July 28, 2026.
GENERAL

Amounts have been rounded off to the nearest thousand rupee unless otherwise stated.

ZIA ZAKARIA

Chairman

NOOR MOHAMMAD ZAKARIA

Chief Executive Officer

MUHAMMAD HANIF CHAMDIA

Chief Finance Officer

AI-NOOR

SUGAR MILLS LTD.

2026

28 :

AI-NOOR

SUGAR MILLS LTD

AI-NOOR

SUGAR MILLS LTD.

2025

2026

747,944

71,515

9.56

39,072

50,733

886,406

90,853

10.25

45,580

52,666

11,535,860

(9,838,560)

1,697,304

(162,847)

(808,936)

(14,225)

(777,903)

187,907

101,911

223,211

(47,902)

175,309

(118,348)

(16,986)

39,975

Rs.1.95

10,497,542

(8,790,284)

1,707,258

(142,939)

(726,950)

(11,328)

(731,981)

52,833

81,356

228,249

(152,853)

75,396

(47,840)

27,556

Rs.1.35

BOOK POST

PRINTED MATTER

If undelivered please return to .

AL-NOOR SUGAR MILLS LTD.

96-A, SINDHI MUSLIM SOCIETY, KARACHI-74400.

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