Transmission of Quarterly Accounts for the period ended March 31, 2025

COMPANY INFORMATION

Board of Directors

Ms. Zarmine Sarfaraz Mr. Abbas Sarfaraz Khan Ms. Najda Sarfaraz

Mr. Iskander M. Khan Mr. Baber Ali Khan Mr. Sher Ali Jaffer Mr. FaiysalAli Khan

Chairperson Chief Executive Director Director Director

Independent Director Independent Director

Company Secretary Mr. Mujahid Bashir

Chief Financial Officer

Mr. Rizwan Ullah Khan

Head of Internal Audit Mr. Zaheer Mir

Auditors

M/s. ShineWing Hameed Chaudhri & Co. Chartered Accountants

Legal Advisor

Mr. Zahoor Alam Advocate

Shares Registrar

M/s. Hameed Majeed Associates (Pvt.) Limited

H.M. House, 7-Bank Square, Lahore. Phone No.: 042-37235081

Fax No.: 042-37235083

Bankers

MCB Bank Limited Bank Al-Habib Limited

ARPAK INTERNATIONAL INVESTMENTS LIMITED

DIRECTOR'S REVIEW REPORT

The Board of Directors of Arpak International Investments Limited takes pleasure in presenting the review on the operational and financial performance of the Company for the nine-month period ended March 31, 2025.

FINANCIAL PERFORMANCE/OPERATIONS

The Company reported an operational loss of Rs. 2.934 million for the period, compared to a profit of Rs. 7.482 million in the corresponding period last year (March 31, 2024). This decline is primarily due to a decrease in rental income and no dividend income was received during the year. Funds were transferred from mutual funds to other equity investment projects that were mole beneficial in the interest of the Company. After incorporating the share of loss of the associated undertakings, the Company has suffered a pre-tax loss of Rs. 98.483 million for the period.

INVESTMENTS/FUTURE OUTLOOK

The Board of Directors had previously approved an investment in the Premier Grain Ethanol Limited; as the project is a export oriented, it has been delayed due to the socio-economic changes in the USA and Europe.

ACCOUNTING POLICIES

The accounting policies adopting in the preparation of the condensed interim financial information for the quarter and nine months period ate the same as applied in the preparation of the preceding annual financial statements of the Company.

ACKNOWLEDGEMENT

The Directors appreciate the hard work and dedication displayed by the employees of the Company.

Islamabad

April 28, 2025

(Abbas Sarfaraz Khan)

Chief Executive

(Islander M. Khan)

Director

Assets

Non-current Assets

March 31,

2025

Note Rupees

Audited June 30,

2024

Rupees

Property, plant and equipment Investment property

Long term investments

Loan to an Associated Company

Current Assets

Current portion of loan to an Associated Company Advance against shares

Short term investment

Advance to employees - considered good Accrued profit and mark-up

Prepayments and other receivables Prepaid tax levies

Advance income tax and tax deducted at source Bank balances

Equity and Liabilities

Share Capital and Reserves Authorised capital

5,000,000 ordinary shares of Rs.10 each

Issued, subscribed and paid-up capital

65,094 78,381

8,647,009 8,784,762

5 228,741,748 267,541,568

6 0 6,250,000

237,453,851 282,654,711

7

64,847,068 69,424,782

302,300,919 352,079,493

50,000,000 50,000,000

302,300,919 352,079,493

The annexed notes form an integral part of these financial statements.

Chief Executive Director Chief Financial Officer

ARPAK INTERNATIONAL INVESTMENTS LIMITED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE QUARTER AND NINE MONTHS PERIOD ENDED MARCH 31, 2025

Quarter Ended Nine Months Ended March 31 March 31 March 31 March 31

2025 2024 2025 2024

--------------------------------Rupees-----------------------------------

Bank Charges

2,686,932

5,765,766

8,889,401

17,843,401

1,151

(1,189,502)

(1,082)

2,472,181

7,491,750

(9,611)

7,482,139

S e

A's sociatd o'mpany*

- net of taxation

n

6,718,162 (279,913,515)

66,539,924

Provision made for impairment

in investment in an Associated Company

(Loss)/Profit before taxation and final tax levies

4,508,903

184,338,477 (279,568,386)

The annexed notes form an integral part of this condensed interim financial information.

Chief Executive

Director

Chief Financial Officer

169,600

498,454

(179,840) 30,952,641

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE QUARTER AND NINE MONTHS PERIOD ENDED MARCH 31, 2025

Quarter Ended Nine Months Ended March 31 March 31 March 31 March 31

(Loss)/Profit after taxation

(47,387,124) 13,533,504 (98,483,121) (206,334,174)

Other Comprehenslve Income

Share of other comprehensive income from Associated Company - net Share of Share of surplus arisen on revaluation of property,

plant and equipment carried out by an Associated Company

(10,240) 31,451,095 27,637,121 128,737,071

Total Comprehensive (Loss)/Income for the Year

(47,397,364) 44,9B4,599 (70,846,000) (77,597,103)

The annexed notes form an integral part of this condensed interim financial infomation.

Chief Executive

CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2025

March 31

2025

March 31

2024

Rupees

Cash flow from operating activities Loss for the period - before taxation and

share of profit of Associated Companies Adjustments for non-cash charges and other items:

(2,939,016)

7,482,139

Fair value profit/(loss) on re-measurement of short term investment Gain on sale of long term investments

Loss before working capital changes

Effect on cash flow due to working capital changes (Increase) / decrease in current assets

Advance to employees - considered good

Prepayments and other receivables Increase / (decrease) in current Liabilities

Accruals and other payables Unclaimed dividend

(55,276)

0

(6,141,201)

(243,358)

0

(1,265,536)

(5,826,838) (5,854,589)

Cash used in operating activities (11,968,039) (7,120,125)

Purchase of property, plant and equipment

Mark-up received on loan to an Associated Company Redemption of short term investment

Reinvestment in Short Term Investment Dividend received

Long term loan repaid Dividend paid

The annexed notes form an integral part of this condensed interim financial information.

Chief Executive

SELECTED NOTES TO AND FORMING PART OF THE CONDENSED INTERIM FINANCIAL INFORMATION (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2025

1. LEGAL STATUS AND NATURE OF BUSINESS

   Arpak International Investments Limited (the Company) was incorporated in Pakistan on July 26, 1977 as a Public Company and its shares are quoted on Lahore and Karachi Stock Exchanges. The registered office of the Company is situated at 20-A, Markaz F-7, Islamabad. It is principally engaged in investment business of various forms.

2. 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 applicable in Pakistan for interim financial reporting comprise

         1. International Accounting Standard (IAS) 34, Interim Financial Reporting, issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 2017; and

         2. 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.

            
            
            
            
            
            

            40,000,000	7,440,781	5,400,000	(323,348,568)	609,824,244	339,316,457
            0	0	0	0 (128.964,082)	58118,082	(70,84G,000)
            			29,142,917		29,142,917

      2. These condensed interim financial statements do not include all the information and disclosures as required in an annual audited financial statements, and these should be read in conjunction with the Company's annual audited financial statements for the year ended June 30, 2024. These condensed interim financial statements are being submitted to the shareholders as required by the section 237 of the Companies Act, 2017.

         2.2 New standards, amendments to approved accounting standards and interpretations that are effective during the period

         The new standards, amendments to approved accounting standards and interpretations that are mandatory for the accounting periods beginning on July 1, 2024 are considered not to be relevant or to have any significant effect on the Company's interim financial reporting and are, therefore, not detailed in these condensed interim financial statements.

3. ACCOUNTING POLICIES

   The accounting policies and the methods of computation adopted in the preparation of this condensed interim financial information are the same as those applied in the preparation of audited annual financial statements of the Company for the year ended June 30, 2024.

4. ACCOUNTING ESTIMATES AND JUDGEMENTS

   The preparation of this condensed interim financial information in conformity with the approved accounting standards requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

   During the preparation of this condensed interim financial information, the significant judgements made by the management in applying the Company's accounting policies and the key sources of estimation and uncertainty were the same as those that applied to annual audited financial statements for the year ended June 30, 2024.

   0 (445,267,882) 480,869,418

   388,442,317

   Other comprehensive income

   0

   0

   0

   0 (206,255,667) 128,658,564

   (77,597,103)

   30,400,254

   30,400,254

   0

   40,000,000 7,440,781 5,4O0,OOO

   March 31,2025

   Chief Executive

   Director

   Chief Financial Officer

   term investments

   reserve

   reserve

   ARPAK INTERNATIONAL INVESTMENTS LIMITED

   CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2025

   Share

40,000,000 7,440,784 5,400,000

Shaed surplus on revaluation

equipment of an

Company

peofitf (loss)

1. LONG TERM INVESTMENTS

   Un-audited

   March 31,

   2025

   Audited June 30,

   2024 Associated Companies: The Premier Sugar Mille and Distillery Company

   Ltd. (PSM) - quoted

   Note

   - - - - Rupees -

   Carrying value - under equity method Less: Impairment loss

   Premier Board Mills Ltd. (PBML) - un-quoted

   5.1. 756,051,153 979,189,630

   (610,851,153) (795,189,630)

   145,200,000 184,000,000

   5.2. 83,541,748 83,541,568

   228,741,748 267,541,568

   1. Investment in PSM represents 400,000 fully paid ordinary shares of Rs.10 each representing 10.67% (June 2024: 10.67%) of PSM's issued, subscribed and paid-up capital as at March 31, 2025. PSM was incorporated on July 24, 1944 as a public limited company and its shares are quoted on Pakistan Stock Exchange. The principal activity of PSM is manufacturing and sale of white sugar and spirit. Market value of the Company's investment in PSM as at March 31, 2025 was Rs.361.62 per share (June 30, 2024: Rs. 460 per share). PSM is an associate of the

      Company due to common directorship.

   2. Investment in PBML represents 600,000 fully paid ordinary shares of Rs.10 each representing 10.63% ( June 2024: 10.63%) of PBML's issued, subscribed and paid-up capital as at March 31, 2025. PBML was incorporated on May 12, 1980 as a public company and it is evaluating certain proposals for setting-up some industrial unit. PBML is an associate of the Company due to

      common directorship.

      1. Carrying values of investments in PBML as at March 31, 2025 have not been accounted for using the equity method as required by IAS 28 (Investments in Associates) due to nonavailability of condensed interim financial information for the period ended March 31, 2025.

2. LOAN TO AN ASSOCIATED COMPANY

   The Company and Chashma Sugar Mills Ltd.(CSM) - an Associated Company had entered into a loan agreement on May 20, 2008 whereby the Company has advanced amounts aggregating Rs.50 million to CSM. The loan carries mark-up at the rate of 1-Month KIBOR+1.25% per annum; effective mark-up rates charged by the Company, during the current financial year, ranged from

   13.38 % to 22.07 % (June 2024: 23.27% to 23.86%) per annum. As per the original loan agreement, the loan was receivable in 8 equal half-yearly instalments commenced from May, 2013. The Company and CSM, in the preceding financial years entered into revised agreements and changed the repayment terms. As per latest agreement, outstanding balance of Rs.25 million is now receivable in seven half-yearly instalments commencing November, 2028. The loan is secured against a promissory note of Rs.60 million.

3. SHORT TERM INVESTMENTS - At fair value through profit or loss

   First Habib Cash Fund	Note	Un-audited March 31, 2025 - - - - Rupeee -	Audited June 30, 2024
   4,709.33 (June 30, 2024: 4,709.33) Units - cost		479,346	23,699,203
   Adjustment on re-measurement to fair value		55,276	75,310
   		534,622	23,774,513

4. CONTINGENCIES AND COMMITMENTS

There was no known contingency and commitment outstanding as at March 31, 2025 and June 30, 2024.

g.1 Significant transactions with related parties are as follows:

Relationship

Nature of transactions

Un-audited

Nine months ended Match 31,

- - - - Rupees - - - -

Associated Mark-up earned on

Company loan to an Associated Company

Key management personnel

Remuneration and other benefits

3,297,987

6,501,969

5,042,595

4,850,840

Un-audited Audited

March 31,

June 30,

- - - - Rupees - - - -

Loan to an Associated Company

Accrued Mark-up on loan to an Associated Company

25,000,000 25,000,000

4,760,224

11,667,811

The Company's activities expose it to a variety of financial risks: market risk (including currency risk, interest rate risk and price risk), credit risk and liquidity risk.

There has been no change in the Company's sensitivity to these risks since June 30, 2024. There have been no change in risk management objectives and policies of the Company during the period.

This condensed interim financial information does not include all financial risk management information and disclosures as are required in the audited annual financial statements and should be read in conjunction with the Company's audited annual financial statement as at June 30, 2024

1. CORRESPONDING FIGURES

   1. In order to comply with the requirements of IAS 34 'Interim Financial Reporting', the condensed interim balance sheet has been compared with the balances of annual audited financial statements of the preceding financial year, whereas, the condensed interim profit and loss account, condensed interim cash flow statement and condensed interim statement of changes in equity have been compared with the balances of comparable period of the immediately preceding financial year.

This condensed interim financial information was approved by the Board of Directors and authorised for issue on April 28,2025.

Chief Executive

Director

Chief Financial Officer