Transmission of Quarterly Report for the Period Ended 2025-06-30

Towards Resilient Growth

QUARTERLY REPORT 2025

BABA FARID

CCompany OInformation

NTENTS02

Vision and Mission Statements 03

Directors' Review 04

Condensed Interim Statement of Financial Position 06

Condensed Interim Statement of Profit or Loss 08

Condensed Interim Statement of Comprehensive Income 09

Condensed Interim Statement of Changes in Equity 10

Condensed Interim Statement of Cash Flows 11

Selected Notes to the Condensed Interim Financial Information 12

COMPANY INFORMATION

BOARD OF DIRECTORS

Mrs. Qaiser Shamim Khan Chairperson Mr. Muhammad Shamim Khan Chief Executive Mr. Adnan Ahmed Khan Director

Mr. Nauman Ahmed Khan Director

Mrs. Sarah Hajra Khan Director

Mrs. Farah khan Director

Mr. Farid ud Din Ahmed Independent Director Mr. Malik Manzoor Hussain Humayoon Independent Director Mr. Anwar Ahmad Khan Independent Director

CHIEF FINANCIAL OFFICER

Mr. Wasif Mahmood

COMPANY SECRETARY

Mr. Muhammad Imran

AUDITORS

M/s BDO Ebrahim & Co. Chartered Accountants

Office No. 4, 6th Floor, Askari Corporate Tower, 75/76 D-1, Main Boulevard, Gulberg-III, Lahore

Tel: 042-35875709-10

Fax: 042-35717351

Email: info@bdo.com.pk

MILLS

5 K.M. Faisalabad Road, Okara Tel: 044-2714418-21

Fax: 044-2522978

BANKERS

Habib Bank Limited The Bank of Punjab Bank Al-Habib Limited MCB Bank Limited

MCB Islamic Bank Limited Meezan Bank Limited Bank Alfalah Limited Soneri Bank Limited

Allied Bank Limited Askari Bank Limited

National Bank of Pakistan - Aitemad Bank Islami Pakistan Limited

HUMAN RESOURCES & REMUNERATION COMMITTEE

Mr. Farid-ud-Din Ahmad Chairman

Mr. Adnan Ahmed Khan Member Mr. Malik Manzoor Hussain Humayoon Member

AUDIT COMMITTEE

Mr. Farid-ud-Din Ahmad Chairman

Mrs. Sarah Hajra Khan Member Mr. Malik Manzoor Hussain Humayoon Member

NOMINATION COMMITTEE

Mr. Malik Manzoor Hussain Humayoon Chairman

Mr. Farid-ud-Din Ahmad Member

RISK MANAGEMENT COMMITTEE

Mr. Malik Manzoor Hussain Humayoon Chairman

Mr. Farid-ud-Din Ahmad Member

SHARE REGISTRAR

M/s Corplink (Pvt) Limited Share Registrar, Wings Arcade,

1-K Commercial Model Town, Lahore. Tel: 042-35916714,

Fax: 042-35869037

Email: corplink786@gmail.com

REGISTERED OFFICE

2-D-1, Gulberg III, Lahore Tel: 042-35771066-71

Fax: 042-35756687

Email: info@bfsml.com Website: https://www.bfsml.com

LEGAL ADVISOR

M/s Ahmed & Pansota Advocate and Legal Consutants 20 - Sir Gangaram Mansions The Mall Lahore

Tel: 042-37313549, 37313520

Tel: 042-36672102

VISION & MISSION

STATEMENTS

OUR VISION

We shall build on our core competencies and achieve excellence in performance to become a leading producer of best quality sugar. In doing so we aim to meet or accede the expectations of all our stakeholders.

Our goal is not only to attain technological advancements in the field of sugar but also to inculcate the most efficient, ethical and time tested business practices in our management.

Furthermore, we shall strive to innovate the ways for the improvement and increase in per acre yield of sugarcane and introduce improved varieties of sugarcane having better yield characters, high sucrose contents, disease and drought resistant and better ratooning crop in the region. We shall introduce the mechanized sugarcane cultivation mehtod to the growers and to educate regarding latest developments of agriculture technology and free consultancy of professionals.

OUR MISSION

We aim to be a leading producer and supplier of quality sugar by adopting the most technological advancement. We intend to play a pivotal role in the economic development of Pakistan.

DIRECTORS' REVIEW

The Directors of your Company are pleased to present the Un-Audited Accounts of the Company for the Quarter Ended 30 June 2025 in compliance with the section 237 of the Companies Act, 2017.

INDUSTRY OVERVIEW

Sugarcane remains a key component of Pakistan's agricultural economy, with the sugar industry ranking as the second-largest agro-based sector after textiles. It contributes approximately 3.5% to agricultural value addition and 0.8% to the national GDP.

The 2024-25 crushing season presented several challenges, including adverse weather conditions, and escalating input costs. While modern cultivation techniques helped mitigate some of these impacts, sugarcane yield per acre declined by an estimated 10-15%.

As a part of the initial steps toward de-regulation of sugar industry, the Provincial Governments did not notify official support prices for sugarcane during the season, allowing market forces to dictate pricing. The company procured sugarcane at an average rate of PKR 422.55 per 40kg during the period.

OPERATING HIGHLIGHTS

As of the reporting date, the company processed 569,620.090 metric tons of sugarcane, resulting in the production of 54,991.500 metric tons of white refined sugar, with an average recovery rate of 9.653%. In comparison, during the corresponding period of the previous year, the company processed 524,174.100 metric tons of sugarcane, producing 52,798.400 metric tons of white refined sugar at the same average recovery rate of 10.068%. While the recovery rate declined year-over-year, the volume of sugarcane crushed increased by approximately 8.67%, primarily due to sugarcane availability during the current crushing season.

Net sales for the Nine months of the financial year reached PKR 7,847.777 million, as compared to PKR 3,258.131 million in the corresponding period of the previous year.

As a result of higher revenue generation, the Company's profit before tax increased to PKR 600.284 million, compared to pre- tax loss of PKR 400.859 million in the corresponding period of the previous year. This improvement is primarily driven by a rise in sales volume and an increase in the average selling price during the current period. Additionally, the significant reduction in benchmark interest rates-from 22% to 11%- has contributed positively to the Company's profitability by lowering financial charges.

To support long-term growth and profitability, the company remain focused on Strengthening strategic support to cane growers, including Provision of high-quality seed varieties, Timely access to fertilizers and pesticides, and Comprehensive agronomic guidance to enhance both sugar recovery and farm productivity.

FUTURE OUTLOOK

The sugar industry currently operates within a semi-regulated environment. While sugarcane procurement has transitioned to market-based pricing, the government is attempting to regulate ex-mill and retail sugar prices to manage domestic market costs.

The Pakistan Sugar Mills Association (PSMA) continues to advocate for complete deregulation to foster long-term sectoral sustainability and competitiveness. However, the government's present policy seeks to balance industry viability with consumer affordability.

On the macroeconomic front, the reduction in the policy rate by the State Bank of Pakistan from 22% (March 2024) to 11% (June 2025) is expected to significantly lower borrowing costs, thereby supporting financial performance across the sector. Further easing is anticipated, subject to inflation trends.

Tax policy changes, particularly the transition from Final Tax Regime (FTR) to Normal Tax Regime (NTR) for export earnings, may moderately impact net profitability. Additionally, the IMF's opposition to tax exemptions, including on imported sugar, may limit future policy relief.

Despite regulatory and fiscal challenges, the industry remains committed to enhancing operational efficiency and sustaining value creation. The next crushing season is expected to commence in early November 2025, with export decisions to be taken based on carryover stock levels and domestic availability.

ACKNOWLEDGEMENT

The Board expresses its sincere appreciation to the entire workforce for their commitment, dedication, and contributions toward achieving the company's goals. The Board also extends gratitude to the financial institutions, growers, government agencies, and all other stakeholders for their continued support and cooperation.

For and on behalf of the Board of Directors

Baba Farid Sugar Mills Limited

Mrs. Qaiser Shamim Khan Muhammad Shamim Khan

Chairperson Chief Executive Officer

Lahore: July 23, 2025

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT JUNE 30, 2025 (UN-AUDITED)

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

NON CURRENT LIABILITIES

CURRENT LIABILITIES

The annexed notes from 1 to 22 form an integral part of these condensed interim financial statements.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS

FOR THE NINE MONTH ENDED 30 JUNE 2025 (UN-AUDITED)

Note

Revenue from contracts with customers 15 Cost of sales 16

Gross profit

Selling and distribution expenses General and administrative expenses Other operating expense

Other operating income

Operating profit Financial charges

Profit / (loss) before levy Levy

Profit / (loss) before income tax Income tax

Profit / (loss) for the period

Earning /(loss) per share - basic and diluted (Rupees)

ded 30 June

2024

. (Rup

3,258,130,923

(2,990,514,694)

267,616,229

(73,138,717)

194,477,512

(595,336,908)

(400,859,396)

(40,546,805)

(441,406,201)

-(441,406,201)

(46.71)

ed 30 June

2024

.........

1,576,922,097

(1,485,960,225)

90,961,872

(32,353,756)

58,608,116

(290,459,176)

(231,851,060)

(19,209,987)

(251,061,047)

-(251,061,047)

(26.57)

The annexed notes from 1 to 22 form an integral part of these condensed interim financial statements.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME

FOR THE NINE MONTH ENDED 30 JUNE 2025 (UN-AUDITED)

Profit / (loss) for the period

Other comprehensive income for the period Total comprehensive income / (loss) for

the period

The annexed notes from 1 to 22 form an integral part of these condensed interim financial statements.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY

FOR THE NINE MONTH ENDED 30 JUNE 2025 (UN-AUDITED)

The annexed notes from 1 to 22 form an integral part of these condensed interim financial statements.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

CONDENSED INTERIM STATEMENT OF CASH FLOWS

FOR THE NINE MONTH ENDED 30 JUNE 2025 (UN-AUDITED)

Note

CASH FLOWS FROM OPERATING ACTIVITIES

Profit / (loss) before levy and taxation Adjustments of non cash and other items; Depreciation

Loss on sales of stores

Gain on sale of property, plant and equipment Provision for gratuity

Financial charges

Net cash flow before working capital changes

(Increase) / decrease in current assets

Stores and spares Stock in trade Trade debts

Loans and advances Short term prepayments Other receivable

Increase / (decrease) in current liabilities

Trade and other payables

Contract liabilities

Cash used in operations Income taxes / levy paid

Employees retirement benefits paid Financial charges paid

Net cash used in operating activities

CASH FLOWS FROM INVESTING ACTIVITIES

Additions in operating fixed assets Additions in capital work in progress

Sale proceed of disposal of property, plant & equipment (Decrease) / addition of short term investment Decrease in long term deposits

Net cash flows genereated from / (used in) investing activities

CASH FLOWS FROM FINANCING ACTIVITIES

Due to Pattoki Sugar Mills Limited - net Repayment of long term loan

Repayment of diminishing musharaka loan Repayment of lease liabilities

Short term borrowings - net

Net cash generated from financing activities Net increase in cash and cash equivalents

Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period

ended 30 June

2024 ees) ..........

(400,859,396)

83,790,798

1,032,344

(84,307)

7,669,210

595,336,908

286,885,557

(3,630,047,446)

(26,707,224)

20,259,585

(6,447,639)

(3,349,609,528)

(74,628,963)

(8,987,778)

(334,633,902)

(3,767,860,171)

(29,998,358)

3,830,424,480

32,565,951

116,810,909

149,376,860

The annexed notes from 1 to 22 form an integral part of these condensed interim financial statements.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

SELECTED NOTES TO THE CONDENSED INTERIM FINANCIAL INFORMATION

FOR THE NINE MONTH ENDED 30 JUNE 2025 (UN-AUDITED)

1. LEGAL STATUS AND NATURE OF BUSINESS

Baba Farid Sugar Mills Limited ("the Company") was incorporated in 1978 under the Companies Act 1913 (now Companies Act, 2017) as a Public Limited Company and its shares are quoted at Pakistan Stock Exchange. It is principally engaged in the manufacturing and sale of sugar including its by-products i.e. molasses, Bagasse and V.Filter cake.

2 GEOGRAPHICAL LOCATION AND ADDRESSES OF BUSINESS UNITS

The registered office of the Company is situated at 2-D/1, Gulberg III, Lahore. The manufacturing facility of the Company is located at 5 KM Faisalabad Road, district Okara, Punjab.

1. 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 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.

      1. These condensed interim financial statements are unaudited but subject to the limited scope review by the auditors and is being submitted to the shareholders as required under section 237 of the Companies Act, 2017 and the listing regulations of the Pakistan Stock Exchange.

      2. These condensed interim financial statements do not include all the information and disclosures required for full annual financial statements and should be read in conjunction with the annual financial statements of the Company as at and for the year ended September 30, 2024.

      3. In order to comply with the requirements of International Accounting Standard 34 - 'Interim Financial Reporting', corresponding figures in the condensed interim statement of financial position comprise of balances as per the audited annual financial statements of the Company for year ended September 30, 2024 and the corresponding figures in the condensed interim statement of profit or loss and the condensed interim comprehensive income, condensed interim statement of cash flows and condensed interim statement of changes in equity comprise of balances of comparable period as per the condensed interim financial statements of the Company for the nine month ended June 30, 2024.

   2. Basis of measurement

      These condensed interim financial statements have been prepared under the historical cost convention, except for the recognition of certain staff retirement benefits at present value and certain operating fixed assets at revalued amounts.

      These condensed interim financial statements have been prepared following accrual basis of accounting except for cash flow statement.

   3. Functional and presentation currency

      These condensed interim financial statements are presented in Pak Rupees ('Rs.'), which is the

      functional and presentation currency for the Company.

2. MATERIAL ACCOUNTING POLICIES INFORMATION

   1. The accounting policies adopted and methods of computation followed in the preparation of these condensed interim financial statements are same as those for the preceding annual financial statements for the year ended September 30, 2024.

   2. Changes in accounting standards, interpretations and amendments to published accounting and reporting standards

      The following amendments to existing standards have been published that are applicable to

      the Company's financial statements.

      1. Amendments to published accounting and reporting standards which became effective

         during the period:

         There were certain amendments to accounting and reporting standards which became mandatory for the Company during the period. However, the amendments did not have any significant impact on the financial reporting of the Company and, therefore, have not been disclosed in these condensed interim financial statements.

         These amendments had no effect on the interim condensed financial statements of the Company as they relate to disclosures of accounting policies in the annual financial statements rather than interim financial statements. The amendments are expected to be applicable for the accounting policy disclosures in the annual financial statements of the Company.

      2. Amendments to published accounting and reporting standards that are not yet effective:

         There are certain amendments to the accounting and reporting standards that will be mandatory for the Company's annual accounting periods beginning on or after October 01, 2025. However, these amendments will not have any significant impact on the financial reporting of the Company and, therefore, have not been disclosed in these condensed interim financial statements.

3. SEASONALITY OF OPERATIONS

   Due to seasonal nature of sugar business, operating results of the Company are expected to fluctuate in the second half of the year. The sugarcane crushing season normally starts from November and lasts till March each year.

4. SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGMENT

The preparation of these condensed interim financial statements in conformity with the approved accounting standards requires the use of certain critical accounting estimates. It also requires the management to exercise its judgment in the process of applying the Company's accounting policies. Estimates and judgments 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.

During preparation of these condensed interim financial statements, the significant judgments 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 in the preceding audited annual published financial statements of the Company for the year ended September 30, 2024.

10.1 Cash with bank in deposit accounts do not carry any interest or mark-up except for Bank Al Habib Limited which has T-Call facility arrangement and carries a mark up ranging from 9.25% to 14.00% (2024: 14.00% to 20.70%) per annum.

1. LONG TERM LOAN

   Note

   (Audited) 30 September

   2024

   ees) ..........

   Secured:

   Banking Companies

   Bank Al Habib Limited 11.1

   Allied Bank Limited 11.2

   Current portion shown under current liabilities

   199,535,950

   200,000,000

   399,535,950

   (259,991,200)

   139,544,750

   1. This is a term loan obtained from Bank Al Habib Limited with approved limit of Rs. 300 million (2024: Rs. 300 million) and carries mark-up at the rate of 3 months average KIBOR plus 1% per annum. This facility is secured against the personal guarantees of directors, corporate guarantees of M/s Al- Moiz Industries Limited (Associated Company), subordination of directors loans and pari passu charge over present and future fixed asset of the Company (land, building, plant and machinery) with 25% margin amounting to Rs. 667 million.

      (Audited)

      30 September

      2024

      ees) ..........

      300,000,000

      (60,000,000)

      210,000,000

      150,000,000

270,000,000

(60,000,000)

(Un-Audited)

30 June

2025

. (Rup

1. 1. This is revolving agri facility with approved limit of Rs. 200 million (2024: Rs. 200 million) and carries the markup at the rate of three month average KIBOR plus 1% per annum. This facility is secured against the personal guarantees of directors, corporate guarantees of M/s Al- Moiz Industries Limited (Associated Company), subordination of directors loans and pari passu charge over present and future fixed asset of the Company (land, building, plant and machinery) with margin amounting to Rs. 267 million.

      Note

2. LONG TERM DIMINISHING MUSHARAKA

   Secured

   Banking Companies

   National Bank of Pakistan (Islamic mode) 12.1

   Current portion shown under current liabilities

   1. This is a term loan obtained from National Bank of Pakistan- Aitemaad with approved limit of Rs. 300 million (2024: 300 million) and carries mark-up at the rate of 6 months KIBOR plus 1.50% per annum. This facility is secured against the personal guarantees of directors and first pari passu charge of Rs. 400 million on present and future fixed asset of the Company with 25% margin to be registered with SECP including constructive equitable mortgage of land and hypothecation of plant and machinery of Company.

      Note

      (Un-Audited) 30 June

      2025

      (Audited)

      30 September

      2024

3. SHORT TERM BORROWING .......... (Rupees) ..........

   Secured:

   Banking companies:

   Cash finance	13.1	1,346,253,545	1,851,297,154
   Short term financing (Agri)	13.2	200,000,000	200,000,000
   Running finance		-	7,753,566
   		1,546,253,545	2,059,050,720

   1. The Company has obtained the cash finance facilities from various banks that carry mark up at the rates ranging from 1 month to 9 month KIBOR plus 0.75% to 1.50% (2024: 1 month to 6 month KIBOR plus 0.75% to 1%) on the utilized limit. These facilities are secured against the pledge of white refined sugar, personal guarantees of directors, and subordination of loan from directors.

   2. This represents the financing facility for procurement and supply of agricultural inputs to growers of the Company aggregated to Rs. 200 million (2024: Rs. 200 million). This facility carries the markup at the rate of relevant KIBOR plus 1% per anum.

1. CONTINGENCIES AND COMMITMENTS

   1. Contingent liabilities

      There is no significant change in contingencies from the preceding annual financial statements of

      the Company for the year ended September 30, 2024.

   2. Commitments

b) There is no commitment as at reporting date.

1. REVENUE FROM CONTRACTS WITH COSTUMERS

   th ended 30 June

   2024

   . (Rup

   ded 30 June

   2024

   .........

   Sales manufacturing Sugar - local

   Export sales

   By products sales Molasses Baggasse

   V.F. Cakes

   Less: Sales tax

   3,317,758,335

   -3,317,758,335

   426,565,774

   27,819,088

   28,462,655

   3,800,605,852

   (542,474,929)

   3,258,130,923

   1,702,546,075

   -1,702,546,075

   115,433,374

   22,010,618

   -

   1,839,990,067

   (263,067,970)

   1,576,922,097

   Nine Month ended 30 June Quarter ended 30 June 2025 2024 2025 2024

2. COST OF SALES .......................... (Rupees) ..........................

   Raw materials and expenses thereon Other overheads:

   Stores, spares and consumables Packing material consumed Chemical consumed

   Salaries, wages and other benefits Fuel and power

   Repair and maintenance Depreciation

   Vehicle running expense Fee and subscription Insurance

   Other factory overheads

   Opening work in process Closing work in process

   Cost of goods manufactured

   Opening stock of finished goods Closing stock of finished goods

   6,103,106,173

   12,003,521

   51,875,991

   33,210,058

   183,601,062

   24,292,946

   119,730,860

   78,619,510

   12,109,941

   190,610

   1,061,155

   12,302,434

528,998,088

472,300

6,632,576,561

(3,642,061,867)

2,990,514,694

949,364

121,165,670

(111,809)

122,003,225

1,363,957,000

1,485,960,225

1. FINANCIAL RISK MANAGEMENT

   The Company's activities expose it to a variety of financial risks: market risk (including foreign

   exchange risk, interest rate risk and price risk), credit risk and liquidity risk.

   There have been no significant changes in the risk management policies since the year end.

   The condensed interim financial statements does not include all financial risk management information and disclosures required in the annual financial statements and should be read in conjunction with the Company's audited annual financial statements for the year ended September 30, 2024.

   The Company's financial risk management objective and policies are consistent with that disclosed in the annual financial statements for the year ended September 30, 2024.

2. TRANSACTIONS AND BALANCES WITH RELATED PARTIES

   The related parties comprise of associated companies and directors of the Company. Significant transactions and balances with related parties, other than those disclosed elsewhere in these financial statements are as follows:

   			30 June 2025			30 June 2024
   Name of parties	Nature of relationship	Nature of transactions	Transactions Closing during the period balance			Transactions Closing during the year balance
   - - - - - - - - - - - - - - - - - Rupees - - - - - - - - - - - - - - - - -
   Naubahar Bottling Company	Associated	Mark-up payable	-	264,084,254 -		264,084,254
   (Private) Limited	Company	Payable - Net	-		- -	274,797,895
   		Contract liability - sale of sugar	681,201,939		- 108,360,000	-
   The Thal Industries	Associated	Payable - Net	-		- -	-
   Corporation Limited	Company	Sale of operating fixed assets	-		- -	-
   		Sale- Store items	-		- 15,004,742	-
   		Purchases - store items	6,120,000		- -	-
   		Purchases - Plant and machinery	2,360,000		- -	-
   Al-Moiz Industries Limited	Associated	Payable - Receivable	-	3,855,225 -		11,062,998
   	Company	Sale- scrap	15,468,600		- 28,145,250	-
   		Sale- Bagasse	46,497,768		- -	-
   		Purchase of chemicals/ store items -			- -	-
   Directors/shareholders
   Mr. Muhammad Shamim Khan		Directors' contribution/loan	-	1,356,300,000 -		1,356,300,000
   Ms. Qaiser Shamim Khan		Directors' contribution/loan	-	1,199,600,000 -		1,199,600,000
   Mr. Nauman Ahmed Khan		Directors' contribution/loan	-	79,800,000 -		79,800,000
   Mr. Adnan Ahmed Khan		Directors' contribution/loan	-	367,000,000 -		367,000,000
   Executives	"Key
   	management "	Remuneration paid	61,989,746		- 35,704,223	-
   	personnel

   1. Basis of relationship with the company

      In respect of directors of the company and associated companies incorporated inside Pakistan with whom the company had entered into transaction during the financial year along with basis of relationship is as follows:

      		Country of
      Name of related party		Incorporation/	Relationship		Basis of Association		Shareholdings
      		origin
      Naubahar Bottling Company (Private) Limited		Pakistan	Associated		Common management		Nil
      Al-Moiz Industries Limited		Pakistan	Associated		Common management		Nil
      Moiz Textile Limited		Pakistan	Associated		Common management		Nil
      The Thal Industries Corporation Limited		Pakistan	Associated		Common management		Nil
      Mr. Muhammad Shamim Khan		Pakistan	Chief Executive		Shareholding		29.163%
      Mrs. Qaiser Shamim Khan		Pakistan	Director		Shareholding		28.0002%
      Mr. Adnan Ahmed Khan		Pakistan	Director		Shareholding		20.0002%
      Mr. Nauman Ahmed Khan		Pakistan	Director		Shareholding		20.0002%
      Mrs Sarah Hajra Khan		Pakistan	Director		Shareholding		0.0169%
      Mrs. Farrah Khan		Pakistan	Director		Shareholding		0.0053%
      Malik Manzoor Hussain Humayun		Pakistan	Director		Shareholding		0.0063%
      Mr. Farid ul din Ahmed		Pakistan	Director		Shareholding		0.0021%
      Mr. Anwar Ahmed Khan		Pakistan	Director		Shareholding		0.0053%

3. NON-ADJUSTING EVENTS AFTER THE REPORTING DATE

   There are no reportable events after the reporting date.

4. CORRESPONDING FIGURES

   Corresponding figures have been rearranged and reclassified, wherever necessary for the

   purpose of comparison and better presentation.

   Description From To Rupees

   Reclassification of Income tax to levy Income tax Levy 40,546,805

5. DATE OF AUTHORIZATION FOR ISSUE

   This condensed interim financial statements were authorized for issue on 23rd July 2025 by the

   Board of Directors of the Company.

6. GENERAL

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

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER