Transmission of Quarterly Report for the Period Ended

COMPANY PROFILE

Bankers Samba Bank Limited Bank Al Habib Limited Meezan Bank Limited

PAIR Investment Bank Limited First Women Bank Limited

Pak Libya Investment Company (Pvt.) Limited The Bank of Khyber

Share Registrar F.D. Registrar Services (SMC-Pvt.) Limited

17thFloor, Saima Trade Tower-A, I.I. Chundrigar Road, Karachi-74000 Ph# 9921-35478192-93, Dir# 9221-32271905-6, Fax# 9221-32621233

Legal Advisor Bukhari Law Associates

Head Office 105/A, Quaid-e-Azam Industrial Estate, Kot Lakhpat, Lahore

Email bunnys@brain.net.pk

Website https://www.bunnys.com.pk

DIRECTORS' REPORT

In the name of Allah, the Most Merciful and the Most Benevolent. Dear Shareholders,

The Directors of the Company are pleased to present the Directors' Review Report along with the financial information for the 2nd quarter period ended December 31, 2025.

Overview:

Rs. (Million)

QUARTER ENDED

December 31, 2025 December 31, 2024

This condensed interim financial information adheres to the requirements of the Companies Act, 2017.

We are pleased to report a growth of 6% in your company's revenue compared to the same quarter of the previous year. On the other hand, gross profit ratio for the period under review has improved to 29.97% as compared to 24.88% for the same period of last year. The first two quarters of the financial year 2025 have shown a significant growth in overall results of the company. A brief comparison of the first two quarters of the financial year 2026 and 2025 is as follows:

Gross profit ratio has improved due to lower input prices. However, flour prices have seen a slight increase recently. Finance cost has also reduced over the period due to lower KIBOR rate.

As always, Company's management is consistent with its proactive approach, and will continue to optimize operations and processes to enhance competitiveness in the market.

To solidify its position as an industry leader, your company is consistently updating its plant and equipment with cutting-edge technology. This ensures the sustainability of the company's operations in the most efficient and cost-effective manner.

There have been no major changes in commitments affecting the financial position of the company between the balance sheet date and the date of this report.

We extend our heartfelt gratitude to our various stakeholders, including shareholders, bankers, and others, for their unwavering faith in the company, which has contributed significantly to its growth over the past year. We look forward to their continued support and confidence to help the company grow further and expand its product portfolio.

Our thanks also go to the Pakistan Stock Exchange Limited, the Securities & Exchange Commission of Pakistan, and the Central Depository Company of Pakistan Limited for their continuous support and cooperation. We hope for this support to continue in the future.

We recognize and appreciate the efforts of our dedicated and talented human resources for their hard work, contributing to the outstanding operational growth. We expect continued efforts from our employees to achieve higher goals in the future.

4er

The Board expresses its gratitude for the cooperation extended by the Government of Pakistan and strategic partners, including customers and suppliers.

For and on behalf of the Board of Directors,

Director Lahore

February 27, 2026

ASIom Malik &Co.

Chartered Accountants

Q suite No. 1e 1'?, Ft' f4•r;r

New Gardcn ToWn, La h'are (+92) 43 35858693, (*92| 42

3S8586g4, (*92) 42 358568 i 9

a•l• mmcii*ebrain.net .p2

INDEPENDENT AUDITOR'S REVIEW REPORT

Report on Review of Condensed Interim Financial Statements

Wehavereviewed the accompanyingcondensedinterim statement of financial position ofBunny's Limited (the company) as at December 31, 2025 and the related condensed interim statement ofprofit or loss and condensed interim statement of other comprehensive income, condensed interim statement of changes in equity, and condensed interim statement of cash flows, and notes to the financial statements for the six-month period then ended (here-in-after referred to as the "interim financial statements"). Management is responsible for the preparation and presentation of these condensed interim financial statements in accordance with accounting and reporting standards as applicable in Pakistan for interim financial reporting. Our responsibility is to express aconclusion on these financial statements based on our review. The figures of the condensed interim statement of profit or loss and condensed interim statement of other comprehensive income for the quarters ended December, 31 202S and December, 31, 2024 have not been

reviewed, as we are required to review only the cumulative figures for the six months ended December 31, 2025.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. Areview is substantially less in scope than an audit conducted in accordance with InternafionalStandards on Auditing and consequently does not enable us to obtain assurance that we would become aware ofall significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial statements are not prepared, in all material respects, in accordance with the accounting and reporting standards as applicable in Pakistan for interim financialreporting.

The engagement partner on the review resulting in this independent auditor's report is Muhammad

Kamran Aslam.

IJI4»‹sN^!+•

Chartered Accountants Place: Lahore

Date: February 27, 2026

UDIN: RR202510827x5e7

8bCS3

Other omc•e : Karachi , Islainabnd , Quetta

CamScanner

BUNNY'S LIMITED

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UNAUDITED) AS AT DECEMBER 31, 2025

Note

ASSETS

Non-current assets

Audited

December 31, 2025 June 30, 2025

Rupees

Chief Executive Director Chief Financial Officer

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UNAUDITED) FOR THE PERIOD ENDED DECEMBER 31, 2025

Quarter ended Six months ended

Note

December 31,

2025

December 31,

2024

December 31,

2025

December 31,

2024

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

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

Chief Executive Director Chief Financial Officer

CONDENCED INTERIM STATEMENT OF CHANGES IN EQUITY (UNAUDITED)

FOR THE PERIOD ENDED DECEMBER 31, 2025

Balance as at July 01, 2025 (Audited) 668,052,700 49,713,670 998,542,472 931,136,727 2,647,445,569

Profit for the period - - 229,250,301 - 229,250,301 Balance as at December 31, 2025 668,052,700 49,713,670 1,227,792,773 931,136,727 2,876,695,870 Balance as at July 01, 2024 (Audited) - Restated 668,052,700 49,713,670 696,289,157 412,136,727 1,826,192,254

Profit for the period - - 113,179,552 113,179,552

Balance as at December 31, 2024 668,052,700 49,713,670 809,468,709 412,136,727 1,939,371,806

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

Chief Executive

Director

Chief Financial Officer

CONDENSED INTERIM STATEMENT OF CASH FLOWS (UNAUDITED) FOR THE PERIOD ENDED DECEMBER 31, 2025

Note

December 31, 2025 December 31, 2024

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

Chief Executive Director Chief Financial Officer

CONDENSED INTERIM NOTES TO THE FINANCIAL INFORMATION

FOR THE PERIOD ENDED DECEMBER 31, 2025

1. STATUS AND NATURE OF BUSINESS

   Bunny's Limited (the Company) was incorporated in Pakistan as a private limited Company on October 22, 1980 under the repealed Companies Act 1913 (now Companies Act, 2017) and was later on converted into a Public Listed Company. The Company is principally engaged in manufacturing of bakery and other food products. The registered office and manufacturing facility of the Company is situated at 105/A Quaid-e-Azam Industrial Estate, Kot Lakhpat, Lahore.

2. BASIS OF PREPARATION

   1. This condensed interim financial information are unaudited and 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 34, 'Interim Financial Reporting', issued by International Accounting Standards Board (IASB) 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, the provisions of and directives issued under the Companies Act, 2017 have been followed.

   2. The preparation of this condensed interim financial information in conformity with the approved accounting and reporting standards requires the use of certain critical accounting estimates. It also requires 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 expectation of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

      During preparation of this condensed interim financial information, the significant judgments made by the management in applying the Company's accounting policies and the key sources of estimation and uncertainty are the same as those that apply to the financial statements for the year ended June 30, 2025.

3. ACCOUNTING POLICIES

   1. The accounting policies and the methods of computation adopted in the preparation of this condensed interim financial information are consistent with those applied in the preparation of the annual financial statements for the year ended June 30, 2025.

   2. There are certain amendments to published International Financial Reporting Standards and interpretations that are mandatory for the financial year beginning on or after July 1, 2026. These are considered not to be relevant or to have any significant effect on the Company's financial reporting and operations and are, therefore, not disclosed in this condensed interim financial information.

   3. Taxes on income in the interim periods are accrued using the tax rate that would be applicable to expected total annual profit or loss.

      BUNNY'S LIMITED

      CONDENSED INTERIM NOTES TO THE FINANCIAL INFORMATION (UNAUDITED)

      FOR THE PERIOD ENDED DECEMBER 31, 2025

4. PROPERTY, PLANT AND EQUIPMENT Audited

   Note

   December 31, 2025 June 30, 2025

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

   Operating fixed assets 4.1 2,994,854,179 3,027,487,250

   Capital work in progress 4.2 255,621,880 255,621,880

   3,250,476,059 3,283,109,130

   1. Operating fixed assets 1,963,000 65,500 (Amounts in Rupees)

      Owned Assets								Leased Assets		Total Assets
      Land - freehold	Building on freehold land	Plant and machinery	Electric installation and appliances	Office equipment	Furniture and fixtures	Motor vehicles	Total Owned	Plant and machinery	Motor vehicles

      Cost

      655,261,985	1,927,865,212	50,146,175	29,056,506
      1,040,230	33,158,850	856,006	2,028,500

      Balance as at July 01, 2025 1,049,000,000

      Additions during the period -

      12,242,900

      246,722,462	3,970,295,240	204,609,078	18,669,300	4,193,573,618
      312,200	37,395,786			37,395,786

      -

      Transfer during the period Disposal during the period	- -	- -	- (19,100,086) (19,100,086) (19,100,086)
      Balance as at December 31, 2025	1,049,000,000	656,302,215	1,961,024,062	51,002,181	31,085,006	12,242,900	227,934,576	3,988,590,940	204,609,078	18,669,300	4,211,869,318
      Balance as at July 01, 2024	530,000,000	655,261,985	1,841,969,682	28,505,124	26,141,006	12,242,900	213,281,037	3,307,401,734	204,609,078	71,152,300	3,583,163,112
      Additions during the year - -			87,245,530	21,641,051	2,915,500	-	85,298,925	197,101,006	-	-	197,101,006
      Revaluation during the year 519,000,000								519,000,000			519,000,000
      Disposals during the year	-	-	(1,350,000)	(97,447,500)				(98,797,500)	-	(6,893,000) (105,690,500)
      Transfer during the year				45,590,000				45,590,000	-	(45,590,000) -
      Balance as at June 30, 2025	1,049,000,000	655,261,985	1,927,865,212	50,146,175	29,056,506	12,242,900	246,722,462	3,970,295,240	204,609,078	18,669,300	4,193,573,618
      Depreciation Balance as at July 01, 2025	-	302,043,671	663,109,423	15,229,800	22,638,748	7,859,018	108,160,578	1,119,041,238	35,693,063	11,352,067	1,166,086,368
      Charge for the period	-	8,846,703	32,462,855	1,779,266	1,182,648	219,194	13,878,313	58,368,978	4,222,900	731,723	63,323,602
      Transfer during the period	-	-	-	-	-	-	- - -
      Disposals during the period	-	-	-	-	-	-	(12,394,831) (12,394,831) - - (12,394,831)
      Balance as at December 31, 2025	-	310,890,374	695,572,278	17,009,065	23,821,396	8,078,212	109,644,061	1,165,015,386	39,915,963	12,083,791	1,217,015,140
      Balance as at July 01, 2024	-	283,453,233	598,097,740	12,792,249	20,646,891	7,371,920	117,396,607	1,039,758,640	26,802,746	35,538,403	1,102,099,789
      Charge for the year	-	18,590,438	65,092,922	2,437,551	1,991,858	487,098	19,506,896	108,106,762	8,890,317	7,122,779	124,119,858
      Disposals during the year	-	-	(81,239)	(55,830,936)				(55,912,175)	(4,221,104) (60,133,278)
      Transfer during the year		-		27,088,011				27,088,011	(27,088,011) -
      Balance as at June 30, 2025 - 302,043,671 663,109,423 15,229,800 22,638,748 7,859,018 108,160,578								1,119,041,238	35,693,063	11,352,067	1,166,086,368
      Rate of depreciation 5% 5% 10% 30% 10% 20%									5%	20%
      Net book value as at December 31, 2025	1,049,000,000	345,411,842	1,265,451,784	33,993,116	7,263,610	4,164,688	118,290,515	2,823,575,554	164,693,115	6,585,509	2,994,854,179
      Net book value as at June 30, 2025 (Audited)	1,049,000,000	353,218,314	1,264,755,789	34,916,376	6,417,758	4,383,882	138,561,884	2,851,254,002	168,916,015	7,317,232	3,027,487,250

   2. Depreciation charged for the period has been allocated as under: December 31, 2025 June 30, 2025

      Cost of sales	47,311,724	94,191,865
      Administrative and general expenses	16,011,878	31,613,951

      Selling and distribution - -

      63,323,602 125,805,816

   3. Capital work in progress

      Opening balance 255,621,880 182,815,812

      Additions during the year 72,806,068

      Closing balance 255,621,880 255,621,880

   4. Particulars of immovable property (i.e. land and building) in the name of Company are as follows:

      Location / Address Usage of immovable property Total Area (In Kanal)

      85,86,87,88 &105 Quaid-e-Azam Industrial Estate, Kot Lakhpat, Lahore Production unit 21.4

   5. The detail of operating assets disposed off during the year are as follows:

Appro. Covered Area (In sq. ft.) 50,510

December -2025

Note

Audited

December 31, 2025 June 30, 2025

10.1 The Company entered into lease agreements with financial institutions to acquire vehicles. The liabilities under the lease agreements are payable in equal monthly installments and are subject to finance charges at the rates ranging from 6 months KIBOR + 2.5% to 3.95% (June 30, 2025 : 6 months KIBOR + 2.5% to 3.95% ). The lease liabilities are secured against security deposits, post dated cheques, personal guarantee of all the directors of the Company and also secured against financed vehicles.

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

15 EARNING PER SHARE - BASIC & DILUTED

Net (loss) / profit after taxation Rupees 229,250,301 113,179,552

Weighted average number of shares outstanding during the

Numbers

668,052,700 668,052,700

(Increase)/ decrease in current assets: Stores, spares and loose tools

Stock-in-trade

Trade debts - unsecured

Advances, deposits and prepayments (Decrease)/ increase in trade and other payables Contract liabilities

(257,341,084) (114,139,420)

Cash generated from operations 224,683,692 182,932,966

1. CASH AND CASH EQUIVALENTS

   Cash and bank balances 2,812,127 2,140,196

   Running Finance (420,017,509) (719,024,595)

   (417,205,382) (716,884,399)

2. FINANCIAL RISK MANAGEMENT

   1. Financial risk factors

      The Company's activities expose it to a variety of financial risk including capital risk, credit risk, liquidity risk and market risk.

      There have been no changes in the risk management policies during the period, consequently this condensed interim financial information does not include all the financial risk management information and disclosures required in the annual financial statements.

   2. Fair value of financial assets and liabilities

      The carrying value of all financial assets and liabilities reflected in this condensed interim financial information approximate their fair values.

3. TRANSACTION WITH ASSOCIATED UNDERTAKINGS

   The related parties comprise associated undertakings, other related companies and key management personnel. The Company in the normal course of business carried out transactions with related parties. There are no other significant related party transactions.

4. Shariah Screening December 31, 2025 June 30, 2025

   130,950,000	-
   14,484,934	29,028,015
   433,901	2,584,003
   -	-
   4,011,582,337	7,380,347,758
   -	-
   -	-
   -	-
   -	-
   64,311,882	192,132,620

   Loans and advances as per Islamic mode

   Interest or mark up accrued on any conventional loan or advances

   Shariah compliant bank deposits / bank balances / overdrawn Profit earned from shariah compliant bank deposits / bank balances Revenue earned from a shariah compliant business segment

   Gain / loss or dividend earned from shariah compliant investments Gain earned from Shariah compliant investments

   Mark up paid on Islamic mode of financing

   Profits earned on any conventional loan or advance Interest paid on any conventional loan or advance

   1. Relationship with shariah compliant banks

      20.1

      Bank Nature of Transaction December 31, 2025 June 30, 2025

      Bank Islamic Limited

      Meezan Bank Limited (Overdraft) Faysal Bank Limited

      Bank balance 46,129 46,129

      Bank balance 210,313 2,268,850

      Bank balance 177,459 269,024

      433,901 2,584,003

5. DATE OF AUTHORIZATION FOR ISSUE

   This condensed financial information was authorized for issue by the board of directors of the Company on February 27, 2026

6. GENERAL

• The figures have been rounded off to the nearest rupee.

• Corresponding figures have been re-classified / re-arranged for the purpose of comparison and better presentation.

Chief Executive Director Chief Financial Officer