Transmission of Quarterly Report for the Period Ended 30 June 2025

(Ended June 2025)

CONTENTS

01

02

Company Information Directors Review

Condensed Interim Statement of Financial Position 04

Condensed Interim Statement of Profit or Loss and other Comprehensive Income 05

Condensed Interim Statement of Cash Flows 06

Condensed Interim Statement of Changes in Equity 07

Notes to the Condensed Interim Financial Statements 08

CHAIRMAN

• Mujtaba Rahim

  BOARD OF DIRECTORS

• Irfan Chawala

• Dr. Lalarukh Ejaz

• Patrick Verraes

• Shahid Ghaffar

• Victor Garcia

• Yasmin Peermohammad

  Chief Executive Officer (Alternate: Naveed Kamil)

  BANKERS

• Bank Al Falah Limited

• Faysal Bank Limited

• Dubai Islamic Bank Pakistan

• Habib Bank Limited

• Habib Metropolitan Bank Limited

• MCB Bank Limited

• Meezan Bank Limited

• National Bank of Pakistan

• Standard Chartered Bank (Pakistan) Limited

  AUDIT COMMITTEE

• Shahid Ghaffar

• Dr. Lalarukh Ejaz

• Patrick Verraes

• Irfan Lakhani

  Chairman

  (Alternate: Naveed Kamil) Secretary

  AUDITORS

• KPMG Taseer Hadi & Co. Chartered Accountants

  LEGAL ADVISOR

• Fazleghani Advocates

  HUMAN RESOURCES AND REMUNERATION COMMITTEE

  SHARE REGISTRAR

• Yasmin Peermohammad

• Mujtaba Rahim

• Patrick Verraes

• Irfan Lakhani

  MANAGEMENT COMMITTEE

• Irfan Chawala

• Muhammad Altaf

• Naveed Kamil

• Qazi Naeemuddin

  Chairperson

  (Alternate: Naveed Kamil) Secretary

• FAMCO Share Registration Services (Pvt) Limited 8-F, Near to Hotel Faran, Nursery Block-6, P.E.C.H.S., Shahra-e-Faisal, Karachi

  REGISTERED OFFICE

• 1-A/1, Sector 20 Korangi Industrial Area, Korangi, Karachi

  FACTORIES

• Petaro Road, Jamshoro

• LX-10, LX-11 Landhi Industrial Area Karachi

  SALES & MARKETING OFFICES

• Katar Bund Road, Off. Multan Road, Thokar Niaz Baig, Lahore

• P-277, Kashmir Road, Amin Town, Faisalabad.

  CHIEF FINANCIAL OFFICER

• Altaf Jamal Khan

  WEBSITE

• https://www.archroma.com.pk

  COMPANY SECRETARY

• Irfan Lakhani

  E-MAIL

• archroma.pakistan@archroma.com

QUARTERLY REPORT 2025 01

The Directors of your Company are pleased to present the financial report for the nine months ended 30 June 2025, together with the condensed interim financial information of the Company for the same period.

Composition of Board

The composition of the Board is as follows:

1. Male 5

2. Female 2

Out of the above:

1. Executive Directors: 1

2. Non-Executive Directors: 3

3. Independent Directors: 3

Business Overview

Archroma's major consumption markets i.e. (the Textiles' and Construction industry) continue to show positive development, both locally as well as for exports, during the third quarter of the Financial Year under review, despite of higher energy and commodity prices and on-going Russia-Ukraine, Middle East and other regional conflicts.

In the light of the prevailing challenging business environment, your Company continued its fullest support to it's customers in meeting their demands and cost targets. As a consequence, it managed to achieve net sales of PKR 21,508 million during the nine months ended 30 June 2025, compared to PKR 19,060 million in the same period last year. Positive contributions from various savings and efficiency improvement programs launched at the end of last year along with market driven changes to the sales product mix further supported gross margins development, which improved to PKR 5,063 million compared to 3,432 million for the same period last year.

Moreover, considerably stable foreign exchange rates and reduced bank borrowing costs further contributed to improving the bottom-line profitability of your Company to PKR 914 million as compared to loss of PKR 308 million in the same period last year.

Future Outlook

The global business and trade environment has become increasingly complex following the imposition of country-specific import tariffs by USA in April, which has severely affected trade, logistics and consequentially the raw materials' supply chain and availability for the Company. Although the balance of trade and forex reserves' situation in Pakistan has considerably improved it is expected to remain under pressure in the coming months due to evolving global trade environment and Pakistan's short-term fiscal commitments. However, we believe that the recent US tariff changes currently under review, may bring opportunites for Pakistan's Textiles and other export businesses, in the medium to long-term compared to other competing countries.

The Management of your Company is confident that the stringent measures already in place for operational adaptability, costs efficiency and net working capital management, along with a strong projects' pipeline aimed at increasing market penetration and portfolio expansion, particularly following the Huntsman Textile Effects' acquisition, shall further support new business development and initiatives during the current financial year.

Dividend

In view of the current financial performance of the Company for the period ended 30 June 2025, the Board of Directors announced interim cash dividend of 200% i.e. PKR 20 per share.

On behalf of the Board

Irfana Chawala Naveed Kamil Chief Executive Officer Director

Karachi: 29 july 2025

02 QUARTERLY REPORT 2025

QUARTERLY REPORT 2025 03

As at 30 June 2025

Note 30 June

2025

30 September

2024

Unaudited Audited

ASSETS (Rupees in '000)

Non-current assets

Property, plant and equipment 5 2,378,171 2,338,149

TOTAL EQUITY AND LIABILITIES 17,043,706 14,303,230

The annexed notes 1 to 23 form an integral part of these condensed interim financial statements.

Irfan Chawla

Chief Executive Officer

04 QUARTERLY REPORT 2025

Naveed Kamil

Director

Altaf Jamal Khan

Chief Financial Officer

For the nine months period ended 30 June 2025

Note Nine months period ended Quarter ended

The annexed notes 1 to 23 form an integral part of these condensed interim financial statements.

Irfan Chawla

Chief Executive Officer

Naveed Kamil

Director

Altaf Jamal Khan

Chief Financial Officer

QUARTERLY REPORT 2025 05

For the nine months period ended 30 June 2025

The annexed notes 1 to 23 form an integral part of these condensed interim financial statements.

Irfan Chawla

Chief Executive Officer

06 QUARTERLY REPORT 2025

Naveed Kamil

Director

Altaf Jamal Khan

Chief Financial Officer

For the nine months period ended 30 June 2025

Capital Reserve Revenue Reserve

Issued, subscribed and paid-up capital

Amalgamation reserve

General Reserve Unappropriated

profit

Total

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

Balance as at 30 September 2023 (Audited) 341,179 - 2,747,000 1,245,951 4,334,130

Transactions with owners in the capacity as owners directly recorded in equity - distribution

Effects of scheme of arrangement / merger - (note 1.2)

Total comprehensive income for the period ended 30 June 2024

Loss for the period ended 30 June 2024

Balance as at 30 June 2024 (Unaudited) 345,634 93,545 2,747,000 986,759 4,172,938 Balance as at 30 September 2024 (Audited) 345,634 93,545 2,747,000 591,389 3,777,568 Total comprehensive income for the

period ended 30 June 2025

Profit for the period ended 30 June 2025 - - - 913,911 913,911

Balance as at 30 June 2025 (Unaudited) 345,634 93,545 2,747,000 1,505,300 4,691,479

The annexed notes 1 to 23 form an integral part of these condensed interim financial statements.

Irfan Chawla

Chief Executive Officer

Naveed Kamil

Director

Altaf Jamal Khan

Chief Financial Officer

QUARTERLY REPORT 2025 07

For the nine months period ended 30 June 2025

1. THE COMPANY AND ITS OPERATIONS

   Archroma Pakistan Limited ("the Company") is a limited liability Company, incorporated and domiciled i n Pakistan. The address of its registered office is 1-A/1, Sector 20, Korangi Industrial Area, Korangi, Karachi, Pakistan. The Company is listed on the Pakistan Stock Exchange. The Company is a subsidiary of Archroma Textiles GmbH, registered and head quartered in Pratteln, Switzerland which holds 75% of the share capital of the Company.

   The Company is primarily engaged in the manufacture and sale of chemicals, dyestuffs and coating, adhesive and sealants. It also acts as an indenting agent.

   The manufacturing facilities and sales offices of the Company are situated at the following locations:

   Manufacturing Facilities

   • Petaro Road, Jamshoro

   • LX-10 & LX-11 Landhi Industrial Area Karachi

     Sales offices

   • Katar Bund Road, Off. Multan Road, Thokar Niaz Baig, Lahore

   • P-277, Kashmir Road, Amin Town, Faisalabad

   1.2 As disclosed in detail in notes 1.1 and 1.2 to the financial statements for the year ended 30 September 2024, the Company acquired Huntsman Textile Effects business effective from 1 October 2023. The details of the acquistion are included in the financial statements for the year ended 30 September 2024.

2. BASIS OF PREPARATION

   1. Statement of compliance

      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;

      • Islamic Financial Accounting Standards (IFAS) issued by the Institute of Chartered Accountants of Pakistan 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 or IFAS, the provisions of and directives issued under the Companies Act, 2017 have been followed.

   2. The disclosures made in these condensed interim financial statements have, however, been limited based on the requirements of IAS 34: 'Interim Financial Reporting'. These condensed interim financial statements do not include all the information and disclosures required for a full set of financial statements and should be read in conjunction with the annual published audited financial statements of the Company for the year ended 30 September 2024.

      These condensed interim financial statements are unaudited. However, a limited scope review has been performed by the external auditors in accordance with the requirements of the Code of Corporate Governance.

      08 QUARTERLY REPORT 2025

      notes to the condensed interim financial statements (UnaUdited)

      For the nine months period ended 30 June 2025

   3. Functional and presentation currency

      These condensed interim financial statements are presented in Pakistani Rupees which is also the Company's functional currency.

3. MATERIAL ACCOUNTING POLICY INFORMATION

   1. The accounting policies adopted in the preparation of these condensed interim financial statements are consistent with those applied in preparation of the published annual audited financial statements of the Company for the year ended 30 September 2024.

   2. A number of new accounting standards and amendments to accounting standards are effective for annual periods beginning after 1 January 2025 and earlier application is permitted. The Company has not early adopted any of the forthcoming new or amended accounting standards in preparing these condensed interim financial statements.

4. USE OF ESTIMATES AND JUDGEMENTS

   In preparing these condensed interim financial statements, management has made judgements and estimates that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

   The significant judgements made by management in applying the Company's accounting policies and the key sources of estimation uncertainty were the same as those described in the annual audited financial statements for the year ended 30 September 2024.

   The Company's financial risk management objectives and policies are consistent with those disclosed in the annual audited financial statement for the year ended 30 September 2024.

5. PROPERTY, PLANT AND EQUIPMENT

Building on leasehold land

Plant and machinery

Furniture, fixtures and equipment

Vehicles Total June 2025

Total June 2024

Owned ROUA Owned Owned ROUA Owned ROUA

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

Total 5,990 3,693 76,341 111,658 11,530 7,114 122,197 338,523 123,665

QUARTERLY REPORT 2025 09

For the nine months period ended 30 June 2025

Name of investee fund

As at

1 Oct 2024

As at Purchases 30 June 2025

Carrying value

Market value

Unrealised gain on

revaluation

---------------Number of units---------------- ----------------(Rupees in '000)----------------

Bank Al Habib Islamic Savings Fund - 7,742,428 7,742,428 750,000 776,009 26,009

10 QUARTERLY REPORT 2025

For the nine months period ended 30 June 2025

30 June 30 September

2025 2024

Number of Shares

QUARTERLY REPORT 2025 11

For the nine months period ended 30 June 2025

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

16,048

Employee benefits-asset 16,048 -

1. SHORT-TERM BORROWINGS - secured

   1. Short term Islamic and conventional finance facilities are available under Islamic financing from various banks under profit arrangements, amounting to Rs.12,000 million (Islamic Rs. 9,750 million & Conventional Rs. 2,250 million) (30 September 2024: Rs. 10,500 million). These facilities have various maturity dates up to 31 October 2025. These arrangements are secured against a pari passu charge of hypothecation on stock-in-trade and trade receivables with minimum 16.7% margin. These facilities other than Islamic Export Refinance facility, carry profit ranging from 1 month KIBOR + 0.10% to 3 months KIBOR + 0.35% per annum calculated on a daily product basis and payable quarterly. The aggregate amount of these facilities which have not been availed as at the reporting date amounts to Rs. 10,398 million (30 September 2024: Rs. 6,562 million).

   2. The Company has availed Islamic Export Refinance Facility - Part II amounting to Rs. 2,594 million (30 September 2024: Rs. 2,894 million) under the Export Financing Scheme of the State Bank of Pakistan (SBP). These arrangement are secured against a pari passu charge of hypothecation on stock in trade and trade receivables. The profit rates on theses facilities range from 7.2% to 8.0% per annum (September 2024: 14.5% to 19.0% per annum).

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

13.3 This includes present value of lease liabilities discounted at the incremental borrowing rate of 3 months KIBOR + 0.21% of the Company against lease agreement of head office and area office premises, respectively.

12 QUARTERLY REPORT 2025

For the nine months period ended 30 June 2025

1. LIABILITIES AGAINST DIMINISHING MUSHARIKA FINANCE

   but within 5 years

   Due within one year Due after one year

   Total

   30 June 30 September 30 June 30 September 30 June 30 September

   2025 2024 2025 2024 2025 2024

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

   Liabilities against diminishing musharika financing 82,420 59,585 221,418 141,834 303,838 201,419

   1. During the period, the Company has obtained various vehicles under diminishing musharika financing arrangement entered into with a Modaraba having various maturity dates upto 20 March 2030 with monthly principal repayments. The financing is secured against the respective vehicles. The rate of profit on the borrowing ranges from 3 months KIBOR + 0.50% per annum to 3 months KIBOR + 0.9%.

2. CONTINGENCIES AND COMMITMENTS

   1. Contingencies

      1. Contingencies are the same as those disclosed in annual audited financial statements for the year ended 30 September 2024 except for tax contingencies provided below.

   2. Commitments

      1. Banks have provided guarantees to various parties on behalf of the Company. Guarantees outstanding as at 30 June 2025 amount to Rs. 1,027 million (30 September 2024 : Rs. 821.969 million).This includes guarantee amounting to Rs.722 million (30 September 2024: Rs.555 million) provided to Excise and Taxation department in respect of infrastructure cess.

      2. The Company has provided post dated cheques amounting to Rs. 6,371.38 million (30 September 2024: Rs. 6,405.892 million) in favour of the collector of customs and which are, in the normal course of business, to be returned to the Company after fulfilment of certain conditions.

      3. Commitments for capital expenditure as at 30 June 2025 aggregated to Rs. 74.937 million (30 September 2024: Rs. 64.124 million).

      4. Commitments under letters of credit for stock-in-trade and stores and spares as at 30 June 2025 amounted to Rs. 510 million (30 September 2024: Rs. 1,335.611 million).

   3. Tax Contingencies

      Tax contingencies are the same as those disclosed in the audited annual financial statements 30 September 2024 except for the following:

      QUARTERLY REPORT 2025 13

      notes to the condensed interim financial statements (UnaUdited)

      For the nine months period ended 30 June 2025

      Description of tax proceedings

      Name of the court, agency or

      parties

      Description of the factual basis of the proceedings and relief sought Principal

      Date instituted

      authority

      Appellate Tribunal Inland Revenue (ATIR)

      The Income tax return for tax year 2021 was selected for audit under section 122(5A) of the Income Tax Ordinance, 2001. The audit proceedings have been completed and ACIR passed an order demanding PKR 192 Million, wherein certain additions and disallowances were made. The management will file an appeal against the aforementioned order before ATIR.

      The management along with its tax advisor are confident that the outcome of the case will be in their favour, therefore, no provision has been recognised in the financial statements.

      The Assistant Commissioner Inland Revenue (ACIR) and the Company

      20-Dec-24

      1. FAIR VALUE OF FINANCIAL INSTRUMENTS/ FINANCIAL RISK MANAGEMENT

         The Company's activities are exposed to a variety of financial risk namely credit risk, foreign exchange risk, interest rate risk, price risk and liquidity risk. The Company has established adequate procedures to manage these risks.

         These condensed interim financial statements does not include the financial risk management information and disclosures required in the annual financial statements; they should be read in conjunction with Company's annual audited financial statements for the year ended 30 September 2024. There have been no changes in the risk management policies since the year end.

         Fair Value Hierarchy

         When measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible. Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows:

         Level 1: Fair value measurements using quoted (unadjusted) in active markets for identical asset or liability.

         Level 2: Fair value measurements using inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derive from prices).

         Level 3: Fair value measurements using inputs for the asset or liability that are not based on observable market data (i.e. unobservable inputs).

         1. Accounting classification and fair values

            The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy for financial instruments measured at fair value.

            14 QUARTERLY REPORT 2025

            notes to the condensed interim financial statements (UnaUdited)

            For the nine months period ended 30 June 2025

            30 June 2025 (Unaudited)

            Carrying amount Fair value

            Financial assets Financial assets Financial assets Financial Total Level 1 Level 2 Level 3 'at fair value 'at fair value 'at amortised liabilities

            Note through other through profit or cost' measured 'at comprehensive loss' amortised cost'

            income'

            --------------------------------------------------------- Rupees in '000 ---------------------------------------------------------

            Financial assets - measured at fair value

            Investment at fair value through

            profit or loss - 776,009 - - 776,009 776,009

            Financial assets - not measured at fair value

            Deposits	16.1.1	-	-	53,278	-	53,278
            Trade receivables	16.1.1	-	-	6,610,141	-	6,610,141
            Other receivables	16.1.1	-	-	96,663	-	96,663
            Cash and bank balances	16.1.1	-	-	413,840	-	413,840
            		-	776,009	7,173,922	-	7,949,931
            Financial liabilities - not measured at fair value
            Lease Liabilities		-	-	-	147,764	147,764
            Liabilities against diminishing
            musharika financing	16.1.1	-	-	-	303,838	303,838
            Trade and other payables	16.1.1	-	-	-	8,955,404	8,955,404
            Short-term borrowings	16.1.1	-	-	-	2,708,054	2,708,054
            Mark-up accrued	16.1.1	-	-	-	41,791	41,791
            Unclaimed dividend	16.1.1	-	-	-	88,998	88,998
            		-	-	-	12,245,849	12,245,849

            QUARTERLY REPORT 2025 15

            notes to the condensed interim financial statements (UnaUdited)

            For the nine months period ended 30 June 2025

            30 September 2024 (Audited)

            Carrying amount				Fair value
            Financial assets Financial assets Financial assets	Financial	Total	Level 1	Level 2 Level 3
            'at fair value 'at fair value 'at amortised	liabilities
            Note through other through profit or cost'	measured 'at
            comprehensive loss'	amortised cost'
            income'

            Rupees in '000

            Financial assets - not measured at fair value

            Deposits	16.1.1	-	-	32,749	-	32,749
            Trade receivables	16.1.1	-	-	4,977,952	-	4,977,952
            Other receivables	16.1.1	-	-	139,165	-	139,165
            Cash and bank balances	16.1.1	-	-	159,529	-	159,529
            		-	-	5,309,395	-	5,309,395
            Financial liabilities - not
            measured at fair value
            Lease Liabilities		-	-	-	142,639	142,639
            Liabilities against diminishing musharika financing	16.1.1	-	-	-	201,419	201,419
            Trade and other payables	16.1.1	-	-	-	5,622,476	5,622,476
            Short-term borrowings	16.1.1	-	-	-	3,938,588	3,938,588
            Mark-up accrued	16.1.1	-	-	-	164,577	164,577
            Unclaimed dividend					90,313	90,313
            		-	-	-	10,160,012	10,160,012

            1. In the opinion of management, fair value of the financial assets and liabilities not measured at fair value are not significantly different from their carrying values since these assets and liabilities are short term in nature or are preiodically repriced.

3. QUARTERLY REPORT 2025

For the nine months period ended 30 June 2025

1. SEGMENT INFORMATION

   1. Segment information for the nine months period ended 30 June 2025:

      Textile Effect (TE) Packaging Technologies

      Total

      (PT)

      30 June

      2025

      30 June

      2024

      30 June

      2025

      30 June

      2024

      30 June

      2025

      30 June

      2024

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

      Sales
      Domestic	17,014,823	14,539,782	2,763,324	3,459,373	19,778,147	17,999,155
      Export	5,367,784	3,863,358	-	-	5,367,784	3,863,358
      Total sales	22,382,607	18,403,140	2,763,324	3,459,373	25,145,931	21,862,513
      Discount and commission	(683,452)	(663,861)	(17,900)	(18,081)	(701,352)	(681,942)
      Sales tax	(2,508,295)	(1,596,424)	(428,125)	(523,813)	(2,936,420)	(2,120,237)
      	(3,191,747) (2,260,285) (446,025) (541,894)				(3,637,772)	(2,802,179)
      Net sales (from external customers)	19,190,860 16,142,855 2,317,299 2,917,479				21,508,159	19,060,334
      Segment results based on 'management approach'	1,617623 315,452		224,045	234,901	184,1,668	550,353
      Other expenses - WPPF and WWF					(103,000)	(10,000)
      Assets charged to profit and loss for internal reporting purposes based on group guidelines					13,166	2,802
      					1,751,834	543,155
      Finance costs					415,690	917,709
      Profit before minimum, final and income taxes					1,336,144	(374,554)
      Capital Expenditure including CWIP	135,448	485,290	2,081	851	137,529	486,141
      Unallocated					5,990	1,058
      					143,519	487,199
      Depreciation	234,090	206,668	6,368	3,779	240,458	210,447
      Unallocated					7,952	18,728
      					248,410	229,175

      Textile Effect (TE) Packaging Technologies

      Total

      (PT)

      Unaudited	Audited	Unaudited	Audited	Unaudited	Audited
      30-Jun-25	30-Sep-24	30-Jun-25	30-Sep-24	30-Jun-25	30-Sep-24

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

      Segment Assets	11,707,368	10,539,599	1,683,624	1,260,801	13,390,992	11,800,400
      Unallocated					3,652,714	2,502,830
      Total Assets					17,043,706	14,303,230
      Segment Liabilities	7,167,719	5,233,082	218,733	716,991	7,386,452	5,950,073
      Unallocated					4,965,775	4,575,589
      Total Liabilities					12,352,227	10,525,662

   2. Segments information for the quarter ended 30 June 2025:

      QUARTERLY REPORT 2025 17

      notes to the condensed interim financial statements (UnaUdited)

      For the nine months period ended 30 June 2025

      Textile Effect (TE) Packaging Technologies

      Total

      (PT)

      30 June

      2025

      30 June

      2024

      30 June

      2025

      30 June

      2024

      30 June

      2025

      30 June

      2024

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

      Sales
      Domestic	5,413,056	3,465,812	850,985	899,634	6,264,041	4,365,446
      Export	1,732,913	986,157	-	-	1,732,913	986,157
      Total sales	7,145,969	4,451,969	850,985	899,634	7,996,954	5,351,603
      Discount & commission	(189,104)	(108,090)	(5,100)	(6,030)	(194,204)	(114,120)
      Sales tax	(801,033)	(318,779)	(131,870)	(139,952)	(932,903)	(458,731)
      Net sales (from external	(990,137) (426,869) (136,970)			(145,982) (1,127,107) (572,851)
      customers)	6,155,832 4,025,100 714,015			753,652 6,869,847 4,778,752

      Segment results based on

      'management approach' 592532 (133,930) 66,574 37,793 659,106 (96,137) Other expenses - WPPF / WWF (33,000) (5,000)

      Assets charged to profit and loss for internal reporting purposes based on group guidelines 7,375 (878)

      633,481 (102,015)

      Finance costs 177,615 325,551

      Profit before minimum, final and income taxes 455,866 (427,566)

      Fixed Capital Expenditure 12,561 392,439 454 - 13,015 392,439 Unallocated 3,186 178

      16,201 392,617

      Depreciation 73,198 69,322 2,146 1,044 75,344 70,366

      Unallocated 2,719 6,309

      78,063 76,675

2. EARNINGS PER SHARE For the nine months ended Quarter ended 30 June 30 June

   2025 2024 2025 2024

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

   1. Basic

Profit after taxation attributable to ordinary shareholders 913,911 (307,893) 279,712 (182,722)

-----------------(Number of shares) -------------------

Weighted average number of ordinary shares

outstanding during the period 34,563,341 34,563,341 34,563,341 34,563,341

-------------------------(Rupees) -----------------------

Earnings per share 26.44 (8.91) 8.09 (5.29)

18 QUARTERLY REPORT 2025