Attock Refinery LtdPSX: ATRL

Financial result for the first quarter ended september 30, 2025

Oct 28, 2025 at 7:44 AM UTC · Issued by Attock Refinery Ltd

A R L

ATTOCK REFINERY LIMITED

FORM-7

The General Manager,

Pamstan Stock Exchange Limited, Stock Exchange Building,

Stock Exchange Road, Karachi.

Dear Sir,

ARL/FA/ca/1,500.88/17327

October 28, 2025

FINANCIAL RESULTS FOR TUE

F&ST UARTER ENDED SEPTEMBER 30 2025

We have to inform you that the Board of Directors of our Company, in their meeting held on October 28, 2025 at 11:30 p.m. at POL House, Morgah, Rawalpindi recommended the following:

CASH DIVIDEND NIL
BONUS ISSUE NIL
RIGHT SHARES NIL
ANY OTHER ENTITLEMENT/CORPORATE ACTION NIL

ANY OTHER PRICE SENSITIVE INFORMATION NIL

Page 1 of 12
REFINERY P.O. MORGAH, RAWALPINDI, PAKISTAN
Tele: f92-51) 5487041 - 45. Telefax: f92-51) 5487254. E-mail: infoHarl.com.pk
The standalone and consolidated financial statements of the Company are attached as under:
1. Standalone Financial Statements (Annexure-A) that include Statement of Financial Position, Statement of Profit or Loss, Statement of Profit or Loss and Other Comprehensive Income, Statement of Changes in Equity and Statement of Cash Flows.
2. Consolidated Financial Statements (Annesure-B) that include Consolidated Statement of Financial Position, Consolidated Statement of Profit or Loss, Consolidated Statement of Profit or Loss and other Comprehensive Income, Consolidated Statement of Changes in Equity and Consolidated Statement of Cash Flows.

The Quarterly Report of the Company for the period ended September 30, 2025 will be transmitted through PUCARS separately, within the specified time.

Yours truly,

(M MAD HASHIM ALI)

Deputy Manager (Accounts)

Encls: Annexures. A &B

Page 2 of 12

ANNEXURE - A

ATTOCK REFINERY LIMITED

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UNAUDITED) AS AT SEPTEMBER 30, 2025

	September 30,	June 30,		September 30,	June 30,
	2025 Rs '000	2025 Rs '000		2025 Rs '000	2025 Rs '000
EQUITY AND LIABILITIES			ASSETS
SHARE CAPITAL AND RESERVES			NON-CURRENT ASSETS
Share capital			PROPERTY, PLANT AND EQUIPMENT
Authorised capital			Operating assets	59,234,211	59,934,323
150,000,000 (June 30, 2025: 150,000,000)			Capital work-in-progress	2,690,052	2,207,739
ordinary shares of Rs 10 each	1,500,000	1,500,000	Major spare parts and stand-by equipments	148,830	149,346
				62,073,093	62,291,408
Issued, subscribed and paid-up capital 106,616,250 (June 30, 2025: 106,616,250)			LONG TERM INVESTMENTS	13,264,915	13,264,915
ordinary shares of Rs 10 each	1,066,163	1,066,163
Reserves and surplus	88,892,658	87,440,780	LONG TERM LOANS AND DEPOSITS	49,536	48,973
Surplus on revaluation of freehold land	55,160,588	55,160,588	DEFERRED TAXATION	1,130,130	946,311
	145,119,409	143,667,531		76,517,674	76,551,607
CURRENT LIABILITIES			CURRENT ASSETS
Trade and other payables	63,174,531	52,811,321	Stores, spares and loose tools	8,938,562	9,220,935
Current portion of lease liability	260,958	339,045	Stock-in-trade	25,068,597	13,150,429
Unclaimed dividends	18,582	18,582	Trade debts	17,577,170	15,505,286
Provision for taxation	11,789,552	11,583,789	Loans, advances, deposits, prepayments
	75,243,623	64,752,737	and other receivables	5,733,192	5,795,686
			Short term investments	48,712,038	48,654,020
			Cash and bank balances	37,815,799	39,542,305
				143,845,358	131,868,661
TOTAL EQUITY AND LIABILITIES	220,363,032	208,420,268	TOTAL ASSETS	220,363,032	208,420,268

MUHAMMAD HASHIM ALI DEPUTY MANAGER - (ACCOUNTS)

Page 3 of 12

ANNEXURE - A

ATTOCK REFINERY LIMITED

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UNAUDITED)

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025

Three months ended

September 30,

2025

September 30,

2024

Rs '000

Gross sales

88,165,254

109,448,355

Taxes, duties, levies, discount and price differential

(28,854,582)

(28,828,481)

Net sales

59,310,672

80,619,874

Cost of sales

(58,379,174)

(78,837,638)

Gross profit

931,498

1,782,236

Administration expenses

448,145

428,980

Distribution cost

26,800

23,937

Other charges

184,047

370,610

(658,992)

(823,527)

Other income

2,171,864

4,052,757

Net impairment reversal on financial assets

11,307

7,968

Operating profit

2,455,677

5,019,434

Finance cost - net

(75,791)

(94,677)

Profit before income tax and final tax from refinery operations

2,379,886

4,924,757

Final taxes - levy

(33,196)

(35,148)

Profit before taxation from refinery operations

2,346,690

4,889,609

Taxation

(894,812)

(1,861,190)

Profit for the period from refinery operations

1,451,878

3,028,419

Income from non-refinery operations less applicable charges and taxation

301,189

Profit for the period

1,451,878

3,329,608

Earnings per share - basic and diluted (Rupees)

Refinery operations

13.62

28.40

Non-refinery operations

2.82

13.62

31.22

MUHAMMAD HASHIM ALI DEPUTY MANAGER - (ACCOUNTS)

Page 4 of 12

ANNEXURE - A

ATTOCX REFINERY LIMITED

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UNAUDITED)

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025

Three months ended September 30, September 30,

2025

Rs '000

2024

Rs '000

Profit añer taxation

Other comprehensive income - net of tax:

1,451,878

3,329,608

Total comprehensive income for the period

1,,451,878

3,329,608

MUHAM AD HASHIM ALI DEPUTY MANAGER - (ACCOUNTS)

Page 5 of 12

ANNEXURE - A

ATTOCK REFINERY LIMITED

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UNAUDITED)

Capital reserve Revenue reserve

Special reserve

Utilised special

Surplus on

capital

for expansion/

modernisation

reserve for expansion/

modernisation

Others

Investment General Un-appropriated reserve reserve Profit

revaluation of freehold land

Total

Rs '000

1,066,163

30,196,887

10,962,934

5,948

3,762,775

32,344,637

55,160,588 133,499,987

3,329,608

3,329,608 - 3,329,608

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025

Balance as at July 01, 2024

Total comprehensive income - net of tax Profit for the period

Other comprehensive income for the period Balance as at September 30, 2024

1,066,163 30,196,887

10,962,934 5,948 3,762,775 55

35,674,245 55,160,588 136,829,595

Total comprehensive income - net of tax Profit for the period

Other comprehensive income for the period

Distribution to owners:

Final cash dividend @ 125% related to the year ended June 30, 2024

Interim cash dividend @ 50% related to the

8,642,457

61,263

- 8,703,720

(1,332,703)

- 8,642,457

- 61,263

- 8,703,720

(1,332,703)

year ended June 30, 2025 - (533,081) - (533,081)

Balance as at June 30, 2025

1,066,163

30,196,887

10,962,934 5,948 3,762,775

55 42,512,181 55,160,588 143,667,531

Total comprehensive income - net of tax Profit for the period

Other comprehensive income for the period

1,451,878

- 1,451,878

Balance as at September 30, 2025

1,066,163

30,196,887 10,962,934 5,948 3,762,775 55 43,964,059 55,160,588 145,119,409

DEPUTY MANAGER - (ACCOUNTS)

Page 6 of 12

ANNEXURE - A

ATTOCK REFINERY LIMITED

CONDENSED INTERIM STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025

(519,438)	(217,904)
6,317	12,752
(562)	(1,840)
2,099,462	4,066,695

Three months ended

	September 30, 2025	September 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES	Rs'0O0	Rs'000
Cash receipts from - Customers	85,933,989	124,097,818
- Others	209,124	169,256
	86,143,113	124,267,074
Cash paid for operating cost	(62,118,983)	(83,909,481)
Cash paid to Government for duties, taxes and other levies	(26,584,493)	(29,987,910)
Income tax and final taxes paid	(906,064)	(2,630,634)
Net cash (outflow)/inflow from operating activities	(3,466,427)	7,739,049
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment
Proceeds against disposal of operating assets
Long term loans and deposits
Income received on bank deposits
Net cash inflow from investing activities	1,585,779	3,859,703
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of lease liability
Dividend paid to Company's shareholders
Bank balances under lien
Finance costs paid
Net cash (outflow)/inflow from financing activities	(91,641)	323
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS DURING THE PERIOD	(1,972,289)	11,599,075
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD	87,189,505	67,190,300
Effect of exchange rate changes on cash and cash equivalents	303,801	3,763
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	85,521,017	78,793,138

MUHAMMAD HASHIM ALI

(91,631)
	(404)
	856
(10)	(129)

DEPUTY MANAGER - (ACCOUNTS)

Page 7 of 12

ATTOCK REFINERY LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION (UNAUDITED)

AS AT SEPTEMBER 30, 2025

ANNEXURE - B

	September 30,	June 30,		September 30,	June 30,
	2025	2025		2025	2025
	Rs '000	Rs '000		Rs '000	Rs '000
EQUITY AND LIABILITIES			ASSETS
SHARE CAPITAL AND RESERVES			NON-CURRENT ASSETS
Share capital			PROPERTY, PLANT AND EQUIPMENT
Authorised capital			Operating assets	59,284,467	59,986,269
150,000,000 (June 30, 2025: 150,000,000)			Capital work-in-progress	2,690,052	2,207,739
ordinary shares of Rs 10 each	1,500,000	1,500,000	Major spare parts and stand-by equipments	148,830	149,346
				62,123,349	62,343,354
Issued, subscribed and paid-up capital
106,616,250 (June 30, 2025: 106,616,250)			LONG TERM INVESTMENTS	26,725,708	25,596,336
ordinary shares of Rs 10 each	1,066,163	1,066,163
Reserves and surplus	99,476,317	97,075,922	LONG TERM LOANS AND DEPOSITS	50,733	49,146
Surplus on revaluation of freehold land	55,160,588	55,160,588		88,899,790	87,988,836
	155,703,068	153,302,673
NON-CURRENT LIABILITIES
Deferred taxation	2,083,665	2,062,362
Deferred grant	2,358	2,524	CURRENT ASSETS
	2,086,023	2,064,886	Stores, spares and loose tools	8,938,562	9,220,935
			Stock-in-trade	25,078,925	13,158,639
CURRENT LIABILITIES			Trade debts	17,577,411	15,505,526
Trade and other payables	63,173,587	52,830,424	Loans, advances, deposits, prepayments
Current portion of lease liability	260,958	339,045	and other receivables	5,765,498	5,826,861
Unclaimed dividends	18,582	18,582	Short term investments	48,712,038	48,857,365
Provision for taxation	11,795,908	11,587,898	Cash and bank balances	38,065,902	39,585,346
	75,249,035	64,775,949		144,138,336	132,154,672
TOTAL EQUITY AND LIABILITIES	233,038,126	220,143,508	TOTAL ASSETS	233,038,126	220,143.508

MMAD HASHIM ALI DEPUTY MANAGER - (ACCOUNTS)

Page 8 of 12

ANNEXURE - B

ATTOCK REFINERY LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UNAUDITED)

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025

Three months ended

	September 30, 2025	September 30, 2024
	Rs '000	Rs '000
Gross sales	88,219,784	109,498,727
Taxes, duties, levies, discount and price differential	(28,854,582)	(28,828,481)
Net sales	59,365,202	80,670,246
Cost of sales	(58,379,174)	(78,837,638)
Gross profit	986,028	1,832,608
Administration expenses	472,897	449,507
Distribution cost	26,800	23,937
Other charges	184,863	371,468
	(684,560)	(844,912)
Other income	2,178,773	4,060,047
Net impairment reversal on financial assets	11,307	7,968
Operating profit	2,491,548	5,055,711
Finance cost - net	(75,797)	(94,677)
Profit before income tax and final tax from
refinery operations and subsidiary	2,415,751	4,961,034
Final taxes - levy	(33,196)	(35,148)
Profit before income tax from refinery operations and subsidiary	2,382,555	4,925,886
Taxation	(906,044)	(1,872,890)
Profit for the period from refinery operations and subsidary	1,476,511	3,052,996
Non-refinery income:
Share in profit of associated companies	924,248	659,850
Profit for the period	2,400,759	3,712,846
Earnings per share - basic and diluted (Rupees)
Refinery operations	13.85	28.64

Non-refinery operations

8.67

22.52

6.19

34 83

MUHAMMAD HASHIM ALI DEPUTY MANAGER - (ACCOUNTS)

Page 9 of 12

ANNEXURE - B

ATTOCK REFINERY LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UNAUDITED)

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025

Three months ended

September 30, September 30,

	2025 Rs '000	2024 Rs '000
Profit after taxation	2,400,759	3,712,846
Other comprehensive income for the period
Share of other comprehensive (loss)/income of associated companies - net of tax	(364)	893
Total comprehensive income for the period	2,400,395	3,713,739

AMMAD HASHIM ALI

DEPUTY MANAGER - (ACCOUNTS)

Page 10 of 12

ANNEXURE - B

ATTOCK REFINERY LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025

Capital reserve Revenue Reserve

		Utilised special				Gain/(loss) on
	Special reserve	reserve for				revaluation of	Surplus on
Share	for expansion /	expansion/	Maintenance Overhaul	Others	General Un-appropriated	investment at fair	revaluation of
capital	modernisation	modernisation	reserve reserve		reserve Profit	value through OCI	freehold land Total

Rs '000

Balance as at July 01, 2024

1,066,163 30,196,887

12,908,966 257,368

210,428 7,077,380 39, 297,976

3,706 55,160,588 146,179,462

Total comprehensive income - net of tax Profit for the period

Other comprehensive income for the period

3,712,846

893

3,712,846

893

- 3,713,739 3,713,739

Balance as at September 30, 2024

Total comprehensive income - net of tax Profit for the period

Other comprehensive income for the period

Distribution to owners:

Final cash dividend @ 125% related to the year ended June 30, 2024

Interim cash dividend @ 50% related to the year ended June 30, 2025

Transferred to maintenance reserve by an associated company AGL

1,066,163 30,196,887

12,908,966 257,368

3,688

210,428 7,077,380 43,011,715

- - 5,235,621

- - 39,810

5, 275,431

(1,332,703)

(533, 081)

(3,688)

3,706

(175)

55,160,588 149,893,201

5,235,621

39,635 5,275, 256

(1,332,703)

(533,081)

Transferred to overhaul reserve by an

associated company AGL - - 1,207,805 - - (1,207,805)

Balance as at June 30, 2025

1,066,163 30,196,887

12,908,966 261,056 1,207,805 210,428 7,077,380 45,209,869

3,531

55,160,588 153,302,673

Total comprehensive income - net of tax Profit for the period

Other comprehensive income for the period

2,400,759

(364)

2,400,395

2,400,759

364

2,400,395

Balance as at September 30, 2025

1, 066,163 30,196,887 12,908,966 261, 056 1,207,805 210,428 7,077,380 47,610, 264 3,531 55,160,588 155,703, 068

MUHAMMAD HASHIM ALI DEPUTY MANAGER - (ACCOUNTS)

Page 11 of 12

ANNEXURE - B

ATTOCK REFINERY LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025

(519,936)	(221,399)
6,317	12,752
(1,588)	(1,968)
2,101,118	4,066,695

Three months ended

	September 30, 2025	September 30, 2024
	Rs '000	Rs '000
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from - Customers	85,988,519	124,148,379
- Others	208,709	168,879
	86,197,228	124,317,258
Cash paid for operating cost	(62,160,157)	(83,947,301)
Cash paid to Government for duties, taxes and other levies	(26,584,493)	(29,987,910)
Income tax and final taxes paid	(915,414)	(2,634,364)
Net cash (outflow)/inflow from operating activities	(3,462,836)	7,747,683
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment
Proceeds against disposal of operating assets
Long term loans and deposits
Income received on bank deposits
Net cash inflow from investing activities	1,585,911	3,856,080
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of lease liability
Dividend paid to Company's shareholders
Bank balances under lien
Finance cost
Net cash (outflow)/inflow from financing activities	(91,647)	323
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS
DURING THE PERIOD	(1,968,572)	11,604,086
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD	87,435,891	67,369,802
Effect of exchange rate changes on cash and cash equivalents	303,801	3,763
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	85,771,120	78,977,651

(91,631)
	(404)
	856
(16)	(129)

MUHAMMAD HASHIM ALI DEPUTY MANAGER - (ACCOUNTS)

Page 12 of 12

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