BLUE-EX LIMITED | ||||
CONDENSED UNCONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION | ||||
AS AT MARCH 31, 2026 | ||||
(Un-audited) March 31, 2026 | (Audited) June 30, 2025 | |||
----------Rupees----------- | ||||
Non-current assets | Note | |||
Property and equipment | 5 | 145,268,349 | 157,632,215 | |
Intangible assets | 6 | 230,984,669 | 214,819,783 | |
Right of use assets | 7 | 37,141,463 | 55,314,268 | |
Long term deposits | 8 | 20,864,199 | 18,988,574 | |
Long Term Investments | 9 | 49,666,241 | 48,224,117 | |
483,924,921 | 494,978,957 | |||
Current assets | ||||
Trade debts | 826,764,873 | 691,719,761 | ||
Packaging material | 2,679,849 | 4,403,109 | ||
Short term loans and advances | 33,202,678 | 37,383,300 | ||
Short term deposits, prepayments and advance income tax | 58,913,139 | 60,761,543 | ||
Due from related party | 3,704,528 | 3,528,092 | ||
Tax refund due from Government | 20,483,731 | 20,483,731 | ||
Short term investments | 10 | 859,330 | 674,396 | |
Cash and bank balances | 11 | 39,233,455 | 34,975,950 | |
985,841,583 | 853,929,882 | |||
TOTAL ASSETS | 1,469,766,504 | 1,348,908,839 | ||
EQUITY AND LIABILITIES |
SHARE CAPITAL AND RESERVES |
Authorized Share Capital |
500,000,000 ordinary shares of Rs.1/- each (2025: 500,000,000 ordinary shares of Rs. 1/- each) |
Issued, subscribed and paid-up share capital | ||
284,284,300 ordinary shares of Rs. 1/- each (2025: 274,284,300 ordinary shares of Rs. 1/- each) | ||
fully paid in cash | 12 | 284,284,300 |
Share Premium | 447,235,838 | |
Revaluation surplus on property, plant & equipment | 26,335,638 | |
Unappropriated profit | 396,873,337 | |
1,154,729,113 | ||
Non-current liabilities | ||
Lease liabilities | 23,351,639 | |
Deferred tax liabilities - net | 13 | 11,300,351 |
34,651,990 |
274,284,300 |
402,328,868 |
31,221,482 |
361,385,448 |
1,069,220,098 |
500,000,000 500,000,000
Current liabilities |
Trade and other payables |
Current portion lease liabilities |
Provision for taxation |
38,431,762 |
19,080,234 |
57,511,996 |
243,662,712 165,106,425 |
22,095,114 25,002,864 |
14,627,576 32,067,456 |
280,385,402 222,176,745 |
1,469,766,504 1,348,908,839 |
The annexed notes from 1 to 21 form an integral part of these financial statements.
CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER DIRECTOR BLUE-EX LIMITED CONDENSED UNCONSOLIDATED INTERIM STATEMENT OF PROFIT OR LOSS FOR THE NINE MONTHS ENDED MARCH 31, 2026 Nine Months Ended Quarter EndedMarch 31, 2026 March 31, 2025 March 31, 2026 March 31, 2025
Note ----------Rupees----------- ----------Rupees-----------Income - courier and allied services | 713,975,604 | 754,180,721 | 218,538,044 | 240,202,313 |
International freight | 199,579,328 | 151,130,117 | 87,526,887 | 63,792,806 |
Commission income 510,882 276,499 145,745 50,376 | ||||
914,065,814 | 905,587,337 | 306,210,676 | 304,045,495 | |
Cost of revenue | (700,201,685) | (688,714,488) | (239,685,299) | (220,804,846) |
213,864,129 | 216,872,849 | 66,525,377 | 83,240,649 | |
General and administrative expenses | (162,585,864) | (143,396,283) | (53,143,700) | (47,984,565) |
Marketing and selling expenses | (5,423,003) | (6,234,753) | (2,131,381) | (2,552,137) |
Impairment of financial asset | (5,213,450) | - | (2,500,000) | - |
(173,222,317) | (149,631,036) | (57,775,081) | (50,536,702) | |
Operating profit | 40,641,812 | 67,241,813 | 8,750,296 | 32,703,947 |
Other income | 4,769,973 | 10,243,017 | 1,551,627 | 2,673,655 |
Other expense | (155,146) | (1,336,146) | (45,581) | - |
Finance costs | (7,806,902) | (7,398,212) | (2,406,021) | (2,216,652) |
(3,192,075) | 1,508,659 | (899,975) | 457,003 | |
Profit before income tax and final tax | 37,449,737 | 68,750,472 | 7,850,322 | 33,160,950 |
Final taxes - levies | (11,425,823) | (4,956,892) | (3,827,633) | (474,716) |
Profit before income tax | 26,023,915 | 63,793,580 | 4,022,688 | 32,686,234 |
Taxation - net | 4,578,130 | (15,479,078) | 2,429,901 | (9,537,677) |
Profit after tax 30,602,045 48,314,502 6,452,590 23,148,557
Earning per share - basic & diluted - restated 15 0.11 0.18 0.02 0.08
The annexed notes from 1 to 21 form an integral part of these financial statements.
BLUE-EX LIMITED | |
CONDENSED UNCONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME | |
FOR THE NINE MONTHS ENDED MARCH 31, 2026 | |
Nine Months Ended | |
March 31, 2026 | March 31, 2025 |
Note ----------Rupees----------- | |
Quarter Ended | |
March 31, 2026 | March 31, 2025 |
----------Rupees----------- | |
Profit after taxation 30,602,045 48,314,502 6,452,590 23,148,557 Items not to be reclassified to profit or loss in subsequent period:
Surplus on revaluation of property, plant equipment |
Deferred tax on property and equipment |
Accelerated depreciation on property and equipment |
- |
- |
- |
- |
- |
- |
- |
- |
- - - -
Total comprehensive income for the period 30,602,045 48,314,502 6,452,590 23,148,557
The annexed notes from 1 to 21 form an integral part of these financial statements.
CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER DIRECTOR
BLUE-EX LIMITED |
UNCONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
FOR THE NINE MONTHS ENDED MARCH 31, 2026 (UN-AUDITED) |
Share Premium | Unappropriated profit | Surplus on revaluation of property, plant & equipment | Total | ||||||
' | Rupees | ||||||||
Balance as at July 01, 2024 (Restated) | 274,284,300 | 402,328,868 | 264,533,851 | 38,181,292 | 979,328,311 | ||||
- | - | 3,181,060 | (3,181,060) | - | |||||
- | - | 5,928,319 | (5,928,319) | - | |||||
- | - | 50,956,222 | - | 50,956,222 | |||||
Note | Issued, subscribed and paid-up capital |
Realized revaluation surplus on derecognition- net of deferred tax |
Transfer of revaluation surplus on incremental depreciation - Net of deferred tax |
Total comprehensive income |
274,284,300 402,328,868 324,599,452 | 29,071,913 1,030,284,533 |
- - 60,065,601 (9,109,379) 50,956,222
Balance as at March 31, 2025 Balance as at July 01, 2025 274,284,300 402,328,868 361,385,448 31,221,482 1,069,220,098Realized revaluation surplus on derecognition- net of deferred tax |
Issuance of shares |
Transfer of revaluation surplus on incremental depreciation - net of deffered tax |
Total comprehensive income |
- - - |
10,000,000 44,906,970 54,906,970 |
- - 4,885,844 (4,885,844) - |
- - 30,602,045 - 30,602,045 |
10,000,000 44,906,970 35,487,889 (4,885,844) 85,509,015 |
The annexed notes from 1 to 21 form an integral part of these financial statements.
CONDENSED UNCONSOLIDATED INTERIM STATEMENT OF CASH FLOW |
FOR THE NINE MONTHS ENDED MARCH 31, 2026 (UN-AUDITED) |
For the Nine Months Ended | For the Quarter Ended | ||
2026 | 2025 | ||
e ----------Rupees----------- | |||
37,449,737 | 68,750,472 | ||
18,829,056 | 19,886,295 | ||
18,172,804 | 18,339,576 | ||
6,537,852 | 5,132,565 | ||
5,213,450 | - | ||
7,806,902 | 7,398,212 | ||
(7,330) | 964,321 | ||
56,552,734 | 51,720,969 | ||
94,002,471 | 120,471,441 | ||
(140,258,562) | (52,228,433) | ||
1,723,260 | (677,933) | ||
4,180,622 | (14,439,104) | ||
6,667,989 | 1,395,065 | ||
(176,436) | (227,669) | ||
(127,863,127) | (66,178,074) | ||
(33,860,656) | 54,293,367 | ||
78,697,752 | 11,680,136 | ||
44,837,096 | 65,973,503 | ||
(37,028,504) | (21,826,038) | ||
(184,734) | (58,251) | ||
(37,213,238) | (21,884,289) | ||
7,623,858 | 44,089,214 | ||
CASH FLOW FROM OPERATING ACTIVITIES |
Profit before tax |
Adjustment for non cash changes and other items: |
Depreciation - Property and equipment |
Depreciation - Right of use assets |
Amortization of Intangibles |
Provision for ECL |
Finance cost |
Loss / (Gain) on sale of property and equipment |
Cash flows from operating activities - Before working capital changes |
(Increase)/ decrease in current assets - Working capital changes |
Trade debts |
Packaging Material |
Short term loans and advances |
Short term deposits and prepayments |
Due from related party |
Total working capital changes |
Increase/(Decrease) in current liabilities |
Trade and other payables |
Taxes paid |
Finance cost paid |
Net cash (used)/generated in operating activities |
CASH FLOW FROM INVESTING ACTIVITIES | ||||
Payments for acquisition of property, plant and equipment | 5 | (6,485,860) | (12,666,397) | |
Long term deposits | 8 | (1,875,625) | (416,000) | |
Long Term Investments | 9 | (1,442,124) | (3,529,020) | |
Payments for development costs of intangible assets | 6 | (22,702,738) | (20,816,145) | |
Sale proceeds from property and equipment | 28,000 | 1,837,000 | ||
(32,478,347) | (35,590,562) | |||
Net cash flows used in investing activities | (32,478,347) | (35,590,562) | ||
CASH FLOW FROM FINANCING ACTIVITIES |
Proceeds from issuance of shares - net |
Payments of lease liabilities |
54,906,970
(25,610,042)
-(26,254,545)
Net cash flows generated from financing activities 29,296,928 (26,254,545)Net (decrease) / 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 |
4,442,439 | (17,755,893) | |
35,650,346 | 118,822,686 | |
40,092,785 | 101,066,793 |
The annexed notes from 1 to 21 form an integral part of these financial statements.
Note March June
BLUE-EX LIMITED |
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
As at March 31, 2026 (Un-Audited) |
2 0 2 6
(Un-Audited) 2 0 2 5 (Audited)
----------Rupees-----------
Non-current assets | |||
Property and equipment | 5 | 221,427,568 | 240,136,630 |
Intangible assets | 6 | 230,984,669 | 214,819,783 |
Right of use assets | 37,141,463 | 55,314,268 | |
Long term deposits | 22,189,748 | 20,311,427 | |
Long Term Investments | 7 | 27,231,629 | 25,789,505 |
538,975,077 | 556,371,613 | ||
Current assets | |||
Trade Debts | 1,354,126,409 | 1,275,742,667 | |
Packaging material | 2,679,849 | 4,403,109 | |
Short term loans and advances | 33,202,678 | 50,677,437 | |
Short term deposits, prepayments and advance income tax | 71,595,418 | 78,139,094 | |
Due from related party | - | - | |
Tax refund due from Government | 20,483,731 | 28,520,907 | |
Short term investments | 8 | 2,578,856 | 2,297,636 |
Cash and bank balances | 9 | 70,720,635 | 62,346,381 |
1,555,387,577 | 1,502,127,231 | ||
Share capital and Reserves |
Authorized |
500,000,000 ordinary shares of Rs.1/- each (2025: 500,000,000 ordinary shares of Rs. 1/- each) |
2,094,362,654 2,058,498,844
500,000,000 500,000,000
Issued, subscribed and paid-up share capital |
284,284,300 ordinary shares of Rs. 1/- each (2025: 274,284,300 ordinary shares of Rs. 1/- each) |
fully paid in cash |
Share Premium |
Revaluation surplus on property, plant & equipment |
Unappropriated profit |
284,284,300 |
447,235,838 |
26,335,638 |
582,471,829 |
1,340,327,605 |
274,284,300 |
402,328,868 |
31,221,482 |
536,675,096 |
1,244,509,746 |
Non-current liabilities | ||
Lease liabilities | 28,791,744 | |
Deferred tax liabilities - net | 10 | 11,300,351 |
40,092,095 |
44,271,864 |
19,080,234 |
63,352,098 |
Current liabilities |
Trade and other payables |
Current portion lease liabilities |
Due to related party |
Short-term financing |
Provision for taxation |
653,234,992 |
26,145,374 |
- |
19,935,013 |
14,627,576 |
713,942,955 |
606,406,597 |
40,597,805 |
- |
64,620,809 |
39,011,789 |
750,637,000 |
Contingencies and Commitments | 11 |
2,094,362,654 2,058,498,844
The annexed notes from 1 to 17 form an integral part of these financial statements.
BLUE-EX LIMITED |
CONSOLIDATED STATEMENT OF PROFIT OR LOSS |
FOR THE NINE MONTHS ENDED MARCH 31, 2026 (Un-Audited) |
Income - courier and allied services |
International freight |
Commission income |
Quarter ended | Quarter ended |
March 2 0 2 6 | March 2 0 2 5 |
----------Rupees----------- | |
218,538,044 | 240,202,325 |
47,612,161 | 101,690,690 |
3,040,601 | 13,493,773 |
269,190,806 | 355,386,788 |
March 2 0 2 6 | March 2 0 2 5 |
----------Rupees----------- | |
713,975,604 | 758,327,036 |
226,126,168 | 268,563,822 |
29,433,475 | 47,952,332 |
969,535,247 | 1,074,843,190 |
(687,656,726) | (684,316,090) | (234,712,539) | (220,804,846) |
281,878,522 | 390,527,100 | 34,478,266 | 134,581,942 |
Cost of sales - courier and allied services
General and administrative expenses |
Marketing and selling expenses |
Impairment of financial asset |
Operating profit
Other income |
Other Expense |
Finance costs |
Profit before income tax and final tax |
Final taxes - levies |
Profit before income tax |
Taxation - net |
Profit after tax |
(169,452,852) |
(44,672,573) |
(5,213,450) |
(219,338,875) |
62,539,647 |
5,172,535 |
(155,146) |
(15,705,924) |
(10,688,535) |
51,851,112 |
(11,425,823) |
40,425,289 |
485,599 |
40,910,889 |
(267,956,663) |
(15,143,688) |
- |
(283,100,351) |
107,426,749 |
(21,445,229) |
(255,040) |
(2,500,000) |
(24,200,269) |
10,277,998 |
(88,172,666) |
(4,768,495) |
- |
(92,941,161) |
41,640,781 |
11,369,329 |
(1,707,971) |
(30,352,317) |
(20,690,959) |
86,735,790 |
(13,435,540) |
73,300,250 |
(14,440,903) |
58,859,347 |
1,590,159 |
(45,581) |
(802,100) |
742,478 |
11,020,475 |
(3,827,633) |
7,192,842 |
843,724 |
8,036,566 |
3,045,480 |
(371,825) |
(9,174,011) |
(6,500,356) |
35,140,425 |
- |
35,140,425 |
(10,012,393) |
25,128,032 |
Earning per share - basic & diluted - restated | 12 | 0.15 | 0.21 |
0.03 0.09
The annexed notes from 1 to 17 form an integral part of these financial statements.
BLUE-EX LIMITED | ||
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | ||
FOR THE NINE MONTHS ENDED MARCH 31, 2026 (Un-Audited) | ||
March 2 0 2 6 | March 2 0 2 5 | |
Note | ----------Rupees----------- | |
Profit after taxation 40,910,889 58,859,347
Items not to be reclassified to profit or loss in subsequent period:
Loss attributable to holding company |
Surplus on revaluation of property, plant equipment |
Deferred tax on property and equipment |
- |
- |
- |
- |
- |
- |
- |
- |
Total comprehensive income for the period 40,910,889 58,859,347
The annexed notes from 1 to 17 form an integral part of these financial statements.
CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER DIRECTOR
BLUE-EX LIMITED |
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
FOR THE NINE MONTHS ENDED MARCH 31, 2026 (Un-Audited) |
Total
Surplus on
revaluation of property, plant & equipment
Unappropriated profit
Share Premium
Issued, subscribed and paid-up capital
' Rupees | ||
402,328,868 | 429,782,994 | 38,181,292 |
Balance as at July 01, 2024 - restated 274,284,300 1,144,577,454
Revaluation Surplus |
Realized revaluation surplus on derecognition- net of deferred tax |
Transfer of revaluation surplus on incremental depreciation - net of deffered tax |
Profit after tax |
Balance as at March 31, 2025 |
- |
3,155,420 (3,155,420) - |
5,928,319 (5,928,319) - |
61,501,067 61,501,067 |
274,284,300 402,328,868 500,367,800 29,097,553 1,206,078,521 |
Balance as at July 1, 2025 274,284,300 402,328,868 536,675,096 31,221,482 1,244,509,746
Revaluation Surplus |
Issuance of shares |
Realized revaluation surplus on derecognition- net of deferred tax |
Transfer of revaluation surplus on incremental depreciation - net of deffered tax |
Profit after tax |
Balance as at March 31, 2026 |
- - - - - |
10,000,000 44,906,970 - 54,906,970 |
- - - - - |
- - 4,885,844 (4,885,844) - 40,910,889 - 40,910,889 284,284,300 447,235,838 582,471,829 26,335,638 1,340,327,605 |
BLUE-EX LIMITED |
CONSOLIDATED STATEMENT OF CASH FLOW |
FOR THE NINE MONTHS ENDED MARCH 31, 2026 (Un-Audited) |
CASH FLOW FROM OPERATING ACTIVITIES |
Profit before tax |
Adjustment for non cash changes and other items: |
Depreciation - Property and equipment |
Depreciation - ROUA |
Amortization of Intangibles |
Provision for ECL |
Interest expense on lease liability |
Finance costs |
Loss / (Gain) on sale of property and equipment |
Loss/(Gain) on foreign currency exchange |
Cash flows from operating activities |
(Increase)/ decrease in current assets |
Trade debts |
Tax refund due from government |
Packaging Material |
Short term loans and advances |
Short term deposits and prepayments |
Due from related party |
Increase/(Decrease) in current liabilities |
Trade and other payables |
Due to related parties |
CASH FLOW FROM INVESTING ACTIVITIES | |||
Property and equipment's | 5 | (12,052,078) | (16,336,222) |
Intangibles | 6 | (22,702,738) | (20,816,145) |
Sale proceeds from property and equipment | 3,128,000 | 1,837,000 | |
Long term deposits | (1,875,625) | (416,400) | |
Long Term Investments | 7 | (1,442,124) | (3,561,769) |
Net cashflow on acqusition of subsidiary | - | - | |
Net cash flows used in investing activities | (34,944,565) | (39,293,536) | |
37,059,500 | 109,483,052 | ||
CASH FLOW FROM FINANCING ACTIVITIES | |||
Short-term financing | (44,685,796) | (130,679,230) | |
Proceeds from issuance of shares | 54,906,970 | - | |
Lease liability | (38,625,200) | (25,598,623) | |
Net cash flows generated from financing activities | (28,404,026) | (156,277,853) | |
Income tax paid |
Finance cost paid |
Net cash (used)/generated in operating activities |
Net (decrease) / 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 |
Cash and bank balances
Note ----------Rupees-----------51,851,112 | 86,735,790 | |
- | ||
28,139,476 | 27,723,918 | |
18,172,804 | 18,339,576 | |
6,537,852 | 5,132,565 | |
5,213,450 | - | |
- | ||
29,635,671 | 30,352,317 | |
(506,330) | 964,321 | |
168,465 | - | |
139,212,500 | 169,248,487 |
(174,997,940) (59,061,077) |
6,366 - |
1,723,260 (677,933) |
4,180,622 (14,439,104) |
7,190,331 1,020,933 |
- - |
(161,897,361) (73,157,181) |
(22,684,862) 96,091,306 |
159,592,752 124,126,500 |
- |
159,592,752 124,126,500 |
136,907,891 220,217,806 |
(42,890,323) |
(22,013,503) |
72,004,065 |
(31,628,270) |
(39,812,948) |
148,776,588 |
8,655,474 | (48,697,384) | |
64,644,017 | 159,387,052 | |
73,299,491 | 110,689,668 |
73,299,491 | 110,689,668 | |
73,299,491 | 110,689,668 |
The annexed notes from 1 to 17 form an integral part of these financial statements.