Cnergyico Pk LimitedPSX: CNERGY

Financial Results for the Quarter Ended 31st March 2025

· Issued by Cnergyico Pk Limited


Cnerqgico Pk Limited

By PUCARS and Hand 30t^April 2025

The Pakistan Stock Exchange Limited Stock Exchange Building

Stock Exchange Road

Karachi

Attention: The General Manager

Dear Sirs,

Re: FINANCIAL RESULTS FOR THE NINE MONTHS PERIOD ENDED MARCH 31", 2025

We are pleased to inform you that the Board of Directors of the Company, at its meeting held on Wednesday, 30'hApril 2025, at 2:00 pm at the corporate office of the Company, The Harbour Front, 10°hFloor, Dolmen City, HC-3, Block 4, Marine Drive, Clifton, Karachi 75600, has approved the unaudited Financial Statements of the Company for the nine months period ended March 31*t, 2025.

The standalone and consolidated financial statements of the Company are enclosed as per below:

  1. Standalone Financial Statements comprising the Statement of Financial Position, Statement of Profit or Loss, Statement of Other Comprehensive Income, Statement of Changes in Equity, and Statement of Cash Flows as Annexure - A; and

  2. Consolidated Financial Statements comprising Consolidated Statement of Financial Position, Consolidated Statement of Profit or Loss, Consolidated Statement of Other Comprehensive Income, Consolidated Statement of Changes in Equity, and Consolidated Statement of Cash Flows as Annexure - B.



The quarterly report of the Company for the nine months period ended 31" March 2025 will be transmitt hrough PUCARS separately within the specified time.

Yours f ithfu y,



Chi Fin iâl Officer Enclosed as above.





Copy: Executive Director/HOD, Offsite-II Department, Supervision Division, Securities & Exchange Commission of Pakistan, 63, NIC Building, Jinnah Avenue, Blue Area, Islamabad.

Cnergyico Pk Limited

Unconsolidated Condensed Interim Statement of Financial Position As at March 31, 2025

Notes

Annexure-A

(Unaudited) (Audited)

March 31, June 30,

2025 2024

----------(Rupees in '000)------------

NON CURRENT ASSETS

Property, plant and equipment

5

288,416,973

289,662,580

Intangible asset

14,556

5,917

Long term inVestment

17,414,238

17,414,238

Long-term deposits

276,611

329,793

306,122,378

307,412,528

CURRENT ASSETS

Stores and spares

2,777,303

2,449,863

Stock-in-trade

6

42,193,670

46,816,644

Trade debts

7

23,003,892

5,608,672

Loans and advances

2,015,242

1,799,223

Trade deposits and short-term prepayments

129,979

25,574

Other receivables

2,635,454

2,573,538

Cash and bank balances

2,079,588

2,399,632

74,835,128

60,673,146

TOTAL ASSETS

380,957,506

368,085,674

EQUITY AND LIABILITIES

SHARE CAPITAL AND RESERVES

Share capital

54,934,476

54,934,476

Reserves

(30,900,696)

(31,474,248)

24,033,780

23,460,228

Surplus on revaluation of operating fixed assets

154,219,621

155,903,719

178,253,401

179,363,947

Contribution from shareholders

25,756,331

25,756,331

204,009,732

205,120,278

NON CURRENT LIABILITIES

Long term financing

13,535,000

14,440,000

Long term lease liabilities

2,264,344

2,267,600

Long-term deposits

230,353

230,352

Deferred liabilities

640,078

549,049

Deferred taxation

60,113,504

60,801,375

76,783,279

78,288,376

CURRENT LIABILITIES

Trade and other payables

85,653,866

70,288,310

Contract liabilities

851,746

1,127,778

Accrued mark-up

2,423,684

3,758,105

Short Term Borrowings - secured

9,734,104

8,286,144

Current portion of non-current liabilities

1,429,314

1,034,418

Unclaimed dividend

1,006

1,027

Taxation - net

70,775

181,238

100,164,495

84,677,020

CONTINGENCIES AND COMMITMENTS

8

TOTAL EQUITY AND LIABILITIES

380,957,506

368,085,674

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

---Sd-------

Chief Executive Officer

- ---Sd-------

Director

-----Sd-------

Chief Financial Officer

Cnergyico Pk Limited Annexure-A

Unconsolidated Condensed interim Statement of Profit or Loss (Un-audited) For the period ended March 31, 2025

Nine months period ended Three months period ended March 31, March 31, March 31, March 31,

2025 2024 2025 2024

- -- (Rupees in '000) ------------------------

Revenue from contract with customers - Gross

279,778,891

188,142,714

93,890,471

67,595,682

Sales tax, discounts & other duties

(61,708,544)

(33,820,853)

(19,310,856)

(13,123,212)

Revenue from contract with customers - net

218,070,347

154,321,861

74,579,615

54,472,470

Cost of sales

(213,128,501) (146,114,966)

(75,290,082) (50,596,082)

Gross profit / (loss)

4,941,846

8,206,895

(710,467)

3,876,388

Administrative expenses

(1,334,522)

(1,142,328)

(453,880)

(399,096)

Selling and distribution expenses

(495,478)

(433,057)

(173,484)

(151,374)

Ofher expenses

(385,930)

(2,308,854)

(128,644)

(796,359)

Other income - net

418,251

2,399,015

203,552

1,027,701

(1,797,679)

(1,485,224)

(552,456)

(319,128)

Operating profit / (loss)

3,144,167

6,721,671

(1,262,923)

3,557,260

Finance costs - net (3,750,098) (7,116,238) (1,297,106) (2,350,627)

(Loss) / profit before taxation

(605,931)

(394,S67)

(2,560,029)

1,206,633

Minimum taxes

(1,192,486)

(851,936)

(432,545)

(297,448)

Income tax

687,871

829,277

229,290

276,426

(Loss) / profit after taxation (1,110,S46) (417,226) (2,763,284) 1,185,611

(Loss) / earnings per share - Rupees

- Basic and diluted

(0.20) io.o j (050)

0.22_

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

-----Sd-------

Chief Executive Officer

---Sd-------

Director

---Sd-------

Chief Financial Officer



Cnergyico Pk Limited

Unconsolidated Condensed Interim Statement of Other Comprehensive Income (Un-audited) For the period ended March 31, 2025

Annexure-A

Nine months period ended Three months period ended

March 31, March 31, March 31, March 31,

2025 2024 2025 2024

(Rupees in '000)

(Loss) / profit after taxation Other comprehensive income

(1,110,546)

(417,226)

(2,763,284)

1,185,611

Total comprehensive (loss) / income for the period

{1,110,546) (417,226)

(2,763,284) 1,185,611

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

Chief"Exedutive Officer "" Diredtor"" Chief Finandial Officer



Cner$yico Pk Limited

Unconsolidated Condensed Interim Statement of Changes In Equity (Un-audited)

For the period ended March 31, 20zs

Annexure-A

Issued,

Capital Reserve Revenue Reserve

Surplus on

Contribution

subscribed and

paid up capital

Merger Other Capital revaluation of Reserves Reserve operating



Accumulated Loss Sub- total y



FOt¥l

Balance as at July 1, 2OZ3

Total comprehensive income for the period Loss for the period

Other comprehensive income for the

period - net of tax

Increinentnl depreciation relating to surplus on revaluation of property, plant and

Rupees in '0tXl)

E4,934,476 (21,959,629) 3,214,209 158149,183 (i5,995,736) 178,342,503

(417,226) (417,226)

- 178,342,503

(417,226)

equipment - net of tax

(2,030,298)

2,030,298



54,934,476

(21,959,629)

3,214,209

1S6,116,665

(14,382,664)

177,925,277 -- 177,925,277

balance as at July 1, 2024

54,934,476

(21,959,629)

3,214,209

155,903,719

(12,728,828)

179,363,947 25,756,331 205,120,278

Total comprehensive loss for the period

Loss for the period

Other comprehensive income for the period - net of tax

Incremental depreciation relating to surplus on revaluation of property, plant end equipment - net of tax

(1,684,098)

(1,110,546) (1,110,546)

1,684,098

(1,110,546)

Balance as at March 31, 2025

S4,934,476 (21,959,6Z9) 3,214,209 154,219,621

(12,1SS,276) 178,253,401 25,756,331 204,009,732

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

- Sd--

Chief Executive Officer

---- Sd

Director

Sd---

Chief Financial Officer



Cnergyico Pk Limited Unconsolidated Condensed Interim Cash Flow Statement (Un-audited)

For the period ended March 31, 2025

CASH FLOWS FROM OPERATING ACTIVITIES

Annexure-A

March 31, March 31,

2025 2024

---------(Rupees in '000)----------

Loss before taxation Adjustments for:

Depreciation/Amortisation Finance costs

Allowance for expected credited losses Interest income

Provision for defined benefit plan

Net cash flow before working capital changes

Movement in working capital

(Increase) / decrease in current assets

Stores and spares Stock in trade Trade debts

Loans and advances

Trade deposits and short term prepayments Other receivables

Increase/(Decrease) in current liabilities

Contract liabilities

Trade and other payables

Cash generated from / (used in) operations

(605,931)

5,136,549

3,750,098

385,930

(381,S28)

136,544

(327,440)

54,226

3,622,974

(26,765,459)

(17,781,150)

(5,322,811)

(216,019)

(431,271)

(104,405)

1,459

(61,916)

(64,326)

(276,032)

(588,669)

14,806,517

19,858,807

8,421,662

(337,471)

(3,790,968)

(1,984,688)

(100)

53,183

(13,603)

8,084,191

(394,567)

5,190,906

7,116,238

2,308,854

(2,319,933)

108,794

12,010,292

(13,258,044)

(1,247,752)

Finance costs paid

(4,350,895)

(4,467,489)

Income Taxes paid

(i,302,949)

(236,064)

Gratuity paid

(45,515)

Interest income received

381,528

335,018

Net Cash generated from / (used in) operations

CASH FLOWS FROM INVESTING ACTIVITIES

2,766,360

(5,616,287)

Acquisition of property, plant and equipment and intangible Investment in subsidiaries

Long term deposits - net

Net cash used in investing activities

CASH FLOW FROM FINANCING ACTIVITIES

Repayment of long term loan - net Payment of lease liabilities

Short term borrowings - net Dividend paid

(543,333)

4,002,923

(253,225)

(307,976)

1,447,960

4,920,857

(21)

(3,737,785)

(1,998,391)

Net cash generated from financing activities

651,381

8,615,804

Net (decrease) / increase in cash and cash equivalents

(320,044)

1,001,126

Cash and cash equivalents - opening

799,632

(405,282)

Cash and cash equivalents - closing

479,588

595,844

Cash and cash equivalents comprise of: Cash and bank balances

2,079,588

2,195,844

Running finance facility

{1,600,000)

479,588

(1,600,000)

595,844

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

- ---Sd-------

Chief Executive Officer

-----Sd-------

Director


Chief Financial Officer

Cnergyico Pk Limited

Consolidated Condensed Interim Statement of Financial Position As at March 31, 2025

Annexure-B

(Un-audited)

(Audited)

March 31,

June 30,

2025

2024

ASSETS

Notes

(Rupees in

'000)- --



Property, plant and equipment

5

326,439,162

328,458,861

Intangible assets

19,506

5,917

Long-term deposits

276,686

329,868

326,735,354

328,794,646

Current assets

Stores and spares

2,777,474

2,449,863

Stock-in-trade



42,193,670

45,816,644

Trade debts

7

23,003,892

5,608,672

Loans and advances

459,990

280,443

Trade deposits and short-term prepayments

129,979

25,574

Other receivables

596,411

473,098

Cash and bank balances

2,084,685

2,401,326

71,246,101

57,055,620

Total assets

397,981,455

385,850,266

EQUITY AND LIABILITIES

Share capital and reserves

Share capital

54,934,476

54,934,476

Reserves

(46,022,087)

(46,679,830)

8,912,389

8,254,646

Surplus on revaluation of operating fixed assets

175,128,050

177,523,994

184,040,439

185,778,640

Contribution from shareholders

25,756,331

25,756,331

Equity attributable to shareholders of the parent company

209,796,770

211,534,971

Non controlling Interest

983,107

1,003,114

210,779,877

212,538,085

Non-current liabilities

Long term financing

13,535,000

14,440,000

Long term lease liabilities

2,264,344

2,267,600

Long-term deposits

230,353

230,353

Deferred liabilities

640,078

549,048

Deferred taxation

70,287,860

71,104,773

86,957,635

88,591,774

Current liabilities

Trade and other payables

85,689,412

70,291,349

Contract liabilities

851,746

1,127,778

Accrued mark-up

2,423,684

3,758,104

Short term borrowings - secured

9,734,104

8,286,144

Current portion of non-current liabilities

1,429,314

1,034,418

Unclaimed dividend

1,006

1,027

Taxation - net

114,677

221,587

100,243,943

84,720,407

Total equity and liabilities

397,981,455

38S,8S0,266

Contingencies and commitments



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

Director Chief Executive Officer Chief Financial Officer

Cnergyico Pk Limited

Consolidated Condensed Interim Statement of Profit or Loss Account (Un-audited) For the period ended March 31, 2025

Annexure-B

Nine months period ended Three months period ended March 31, March 31, March 31, March 31,

2025 2024 2025 2024

- ----------- (Rupees in '000) -----------

Revenue from contract with customers

279,778,891

188,142,714

93,890,471

67,595,682

Discounts, taxes, levies and duties

(s1,708,544)

(33,820,853)

(19,310,856)

(13,123,212)

Revenue from contract with customers - net

218,070,347

154,321,861

74,579,615

54,472,470

Cost of sales

(213,771,198)

(146,806,141)

(75,512,961)

(50,819,680)

Gross profit / (loss)

4,299,149

7,515,720

(933,346)

3,652,790

Administrative expenses

(1,346,156)

(1,143,131)

(461,186)

(399,096)

Selling and distribution expenses

(495,478)

(433,057)

(173,484)

(151,374)

Other expenses

(401,544)

(2,308,854)

(144,258)

(796,359)

Other income

355,959

2,336,750

182,788

1,006,946

(1,887,219)

(1,548,292)

(596,140)

(339,883)

Operating profit / (loss)

2,411,930

5,967,428

(1,529,486)

3,312,907

Finance costs

(3,750,174)

(7,116,486)

(1,297,135)

(2,350,709)

(Loss) / profit before taxation

(1,33B,244)

(1,149,058)

(2,826,621)

962,198

Final tax and minimum taxes

(1,236,877)

(883,325)

(446,832)

(309,083)

Income tax

816,913

1,146,499

272,304

382,166

(Loss) / profit after taxation

(1,758,208)

(885,884)

(3,001,149)

1,035,281

Attributtable to:

- Equity Holders of the Parent Company

(1,738,201)

(866,096)

(2,994,523)

1,041,350

- Non-controlling interest

(20,007)

(19,788)

(6,626)

(6,069)

(1,758,208)

(885,884)

(3,001,149)

1,035,281

(Lossj / earnings per share

--------------- (Rupees) --------------

- Basic / diluted

(0.32)

(0.16) (0.55)

0.19

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

Director Chief Executive Officer Chief Financial Officer



Cnergyico Pk Limited

Consolidated Condensed Interim Statement of Other Comprehensive income (Un-audited) For the period ended March 31, 2025

Annexure-B

Six months period ended Three months period ended

March 31, March 31, March 31, March 31,

2025 2024 2025 2024

--------(Rupees in '000)---------

(Loss) / profit after taxation

(1,758,208)

(885,884)

(3,001,149)

1,035,281

Other comprehensive income

Total comprehensive (loss) / income for the period

(1,758,208)

(885,884)

(3,001,149)

1,035,281

Attributtable to:

- Equity Holders of the Parent Company

(1,738,201)

(866,096)

(2,994,523)

1,041,350

- Non- controlling interest

(20,007)

(19,788)

(6,626)

(6,069)

(1,758,208)

(885,884)

(3,001,149)

1,035,281

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

Director Chief Executive Officer Chief Financial Officer



Cnergyico Pk Limited

Consolidated Condensed Interim Statement of Changes In Equity (Un-audited) For the six months period ended March 31, 2025

Annexure-B

Capital Reserve Revenue Reserve

Issued,

Other Surplus on

Accumulated

Contribution f4on-



from Controlling Total



subscribed and Mpita{ revaluation of

paid g ggj Reserve operating assets

shareholders 1nterest • MCI

----------------------------(Rupees in '000)-------------------------------

Balance as at July 1, 2023

54,934,476

(21,959,629)

3,214,209

180,718,586

(31,327,509)

185,580,133

1,033,255

186,613,388

Loss for the period

(866,096)

(866,096)

(19,788)

(885,884)

Incrementei depreciaoon relating to surplus

onf*vMuadonofpop*ny,plaimd equipment-neiofiax

(2,806,947)

2,806,947

Balance as at March 31, 2024

54,934,476

(21,959,629}

3,214,209

177,911,639

(29,386,658)

184,714,037

--

1,013,467

185,727,504

Balance as at 1 July 2024

54,934,476

(21,959,629)

3,214,209

177,523,994

(27,934,410)

185,778,640

25,756,331

1,003,114

212,538,085

Profit / (loss) for the period

(1,738,201)

(1,738,201)

(20,007)

(1,75B,208)

|ncrementaI depreciation relating to surp|us

on revaluation of property, plant and

equipment - net of tax



2,395,944

Balance as at March 31, 2025

9*,984,476

(21,959,629)

3,214209

175,1ZS,050

(27,276,667)

184,040,439

25,756,331

983,107

210,779,877

The annexed notes form an integral part of these consolidated condensed interim financial state me nts.



Chief Executive Officer



Chief Financial Officer

Page 10 of 11

Cnergyico PK Limited

Consolidated Condensed Interim Statement of Cash Flows (Un-audited) For the period ended March 31, 2025

Annexure-B

March 31,

March 31,

2025

2024

- ---(Rupees

in '000)----

CASH FLOWS FROM OPERATING ACTIVITIES

Loss before taxation

(1,338,244)

(1,149,058)

Adjustments for:

Depreciation / Amortisation

5,941,385

5,994,914

Finance costs

3,750,174

7,116,486

Allowance for expected credited losses

385,930

2,308,854

Interest income

(319,538)

(2,257,943)

Provision for defined benefit plan

136,544

108,794

Net cash flow before working capital changes

8,556,251

12,122,047

Movement in working capital

(Increase)/ decrease in current assets

Stores and spares Stock in trade Trade debts

Loans and advances

Trade deposits and short term prepayments Other receivables

Increase/ (Decrease) in current liabilities

Contract liabilities

Trade and other payables

Cash generated from / (used in) operations

(330,058)

(327,611)

54,226

3,622,974

(26,765,459)

(17,781,150)

(5,322,811)

(179,547)

(431,271)

(104,405)

1,459

(123,313)

(276,032)

(588,669)

14,839,026

19,682,725

8,226,193

(13,369,800)

(1,247,753)

Finance costs paid

(4,350,971)

(4,467,488)

Income Taxes paid

(1,343,787)

(236,064)

Gratuity paid

(45,515)

Interest income received

319,538

335,018

Net cash generated from / (used in) operating activities

2,805,458

(5,616,287)

CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of property, plant and equipment and intangibles



(3,826,662)



(1,984,688)

Long term deposits - net

53,182

(13,602)

Net cash used in investing activities

(3,773,480)

(1,998,290)

CASH FLOW FROM FINANCING ACTIVITIES

(543,333)

4,002,923

(253,225)

(307,976)

1,447,960

4,920,857

(21)

Repayment of long term loan - net Payment of lease liabilities

Short term borrowings - net Dividend paid

Net cash generated from financing activities

651,381

8,615,804

Net (decrease) / increase in cash and cash equivalents

(316,641)

1,001,227

Cash and cash equivalents - opening

801,326

(403,690)

Cash and cash equivalents - closing

484,68S

597,537

Cash and cash equivalents comprise of: Cash and bank balances

2,084,685

2,197,537

Running finance facility

(1,600,000)

484,685

(1,600,000)

597,537

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



Director Chief Executive Officer Chief Financial Officer