3rd
Quarter Report March 31, 2026 DANDOT CEMENT COMPANY LIMITED2
Company Information
3
Directors' Report to the Shareholders
6
Condensed Statement of Financial Position
8
Condensed Interim Statement of Profit or Loss Account
9
Condensed Interim Statement of Comprehensive Income
10
Condensed Interim Cash Flow Statement
11
Condensed Interim Statement of Changes in Equity
12
Notes to the Condensed Interim Financial Statements
20
Directors' Report to the Shareholders (Urdu)
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COMPANY INFORMATIONBoard of Directors (BOD)
Muhammad Farooq Naseem Chairman of BOD Mrs. Roohi Farooq Naseem
Taha Muhammad Naseem Chief Executive Zaka Muhammad Naseem
Jehanzeb Choudry Murtaza Yousuf Mandviwala Hamid Mahmood
Zafar ud Din Mahmood Hassan Javed
Audit Committee
Zafar ud Din Mahmood Member / Chairman
Muhammad Farooq Naseem Member
Hamid Mahmood Member
Human Resouces & Remuneration Committee
Murtaza Yousuf Mandviwala Member / Chairman
Muhammad Farooq Naseem Member
Taha Muhammad Naseem Member
Chief Financial Officer
Muhammad Kamran
Statutory Auditors
Parker Russell - A.J.S. Chartered Accountants, Faisalabad
Company Secretary
Muhammad Kamran
Legal Advisor
International Legal Services
Bankers
The Bank of Punjab United Bank Limited National Bank of Pakistan Habib Bank Limited Bank Alfalah Limited BankIslami Pakistan Limited Bank Al-Habib Limited Askari Bank Limited
JS Bank Limited Meezan Bank Limited Bank Makramah Limited Allied Bank
Registered Office
5-Zafar Ali Road, Gulberg V, Lahore. Telephone: +92-42-35758614-15
Factory
Dandot R.S., Distt. Jhelum.
Telephone: +92-544-211371, Fax: +92-544-211490
Share Registrar
Corplink (Pvt.) Limited.
Wings Arcade 1-K-Commercial, Model Town, Lahore. Telephone: +92-42-35839182, Fax: +92-42-35869037
Website
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https://www.dandotcement.com
Quarter Ended March 31,2026 |Unaudited Condensed Financial Statements
On behalf of the Board of Directors of Dandot Cement Company Limited, I am pleased to present the unaudited condensed financial statements for the quarter ended March 31, 2026. The period reflects continued operational resilience, meaningful improvement in financial performance year-on-year, and steady progress on our strategic growth agenda.
PRINCIPALACTIVITY
Dandot Cement Company Limited is a Pakistan Stock Exchange-listed company engaged in the manufacturing and sale of cement. Our operations are anchored in delivering high-quality cement while continuously improving cost efficiency, process reliability, and environmental sustainability.
OPERATIONAL PERFORMANCE
During the quarter under review, the Company delivered solid operational results:
Production & Sales
Volume (Metric Tons)
Clinker Produced
328,030
Cement Produced
350,420
Cement Sold
347,258
The near-complete conversion of produced cement into sales reflects strong market execution and effective inventory management.
FINANCIAL RESULTS
The Company demonstrated meaningful year-on-year improvement across all key financial metrics during the quarter:
Financial Metric
Mar-2026
Mar-2025
Gross Sales
PKR 8.0 billion
PKR 6.9 billion
Net Sales
PKR 5.21 billion
PKR 4.49 billion
Gross Profit
PKR 513.14 million
PKR 376.31 million
Operating Profit
PKR 465.06 million
PKR 327.42 million
Net Loss
PKR (70.49) million
PKR (99.31) million
Loss Per Share-Basic
PKR (0.22)
PKR (0.31)
The Company achieved year-on-year growth in gross sales of approximately 16%, and gross profit improved by approximately 36%, reflecting greater cost discipline and improved plant utilization after the completion of our BMR. The net loss narrowed by 29% compared to the same period last year, a trend we are committed to continue in the periods ahead.
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Nonetheless, the Company reported a pre-tax loss during the quarter. This was primarily attributable to compressed retention margins per bag and persistently elevated input costs most notably coal, whose price volatility continues to weigh on margins. In response, management is actively diversifying its coal sourcing strategy and optimizing the fuel mix to reduce exposure to commodity price fluctuations. No dividend has been recommended for this period.
STRATEGIC INITIATIVES & CAPITAL PROJECTS
The Company's strategic priorities are squarely focused on cost reduction, energy efficiency, and sustainable growth. The following key initiatives are underway:
5 MW Solar Power Project: A solar energy project is at the final contract signing stage. Once commissioned, it will materially reduce our dependence on grid electricity and lower per-unit energy costs.
Waste Heat Recovery (WHR) System: Active evaluation is underway for the installation of a WHR system to capture and convert exhaust heat from the cement plant into usable power, further improving our energy efficiency and sustainability profile.
Cement Grinding Optimization: Ongoing work to optimize grinding operations is improving process reliability, reducing downtime, and enhancing product quality consistency.
Capital Raising: To finance these projects, the Company is engaged with investors and financial institutions to raise the requisite capital. We remain committed to structuring this in a manner that preserves long-term shareholder value.
These initiatives collectively demonstrate the Company's commitment to operational excellence, cost leadership, and environmental responsibility.
INDUSTRY OVERVIEW & MARKET OUTLOOK
Domestic Market
Pakistan's domestic cement market delivered strong performance during of fiscal year 2026, with industry-wide domestic dispatches growing 10% as compared to the previous period. This sustained recovery is being driven by reviving construction activity, declining interest rates, and improving macroeconomic conditions.
Export Market
Export volumes remained resilient during the quarter, showing a modest growth of 6% over the previous period. Despite the temporary Pakistan-Afghanistan border closure in October 2025, the industry maintained export momentum and adapted by exploring alternative markets and improving supply chain flexibility.
Overall Industry Performance & Outlook
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Total offtake in 9MFY26 rose 10% bolstered by local demand surge of 11% with modest contribution of 6% from exports. This rebalancing has traditionally favored the bottom lines of producers who enjoy significantly higher pricing power at home than in competitive exports markets.
PRINCIPAL RISKS & MITIGATION
The Company operates in a dynamic environment and remains vigilant to the following key risks:
Afghan Border Closure: The border closure since October 2025 has halted Afghan cement exports and disrupted coal supply chains for northern producers. We are transitioning to alternative coal sources and monitoring bilateral developments closely. A reopening of the border would represent a meaningful upside catalyst for both exports and input costs.
Retention Price Pressure: Industry-wide cement bag prices remain under pressure due to competitive dynamics and demand variability. We are focused on volume efficiency, production cost reduction, and market positioning to protect margins.
Government Infrastructure Spending: Continued public sector development investment is critical to sustaining domestic demand. We are encouraged by the current government's infrastructure commitments and are closely monitoring budget allocations to align our capacity planning accordingly.
Macroeconomic & Political Uncertainty: Broader macroeconomic and geopolitical factors, including regional tensions, continue to create an uncertain operating environment. We are managing this through financial discipline, operational agility, and proactive stakeholder engagement.
SUBSEQUENT EVENTS
There were no material subsequent events to be disclosed in the relevant notes to the unaudited condensed financial statements.
ACKNOWLEDGEMENT
On behalf of the Board, I wish to express our sincere gratitude to all stakeholders our shareholders, banking partners, employees, suppliers, distributors, and regulators for their unwavering support, trust, and cooperation. Your continued confidence in Dandot Cement, particularly during challenging periods, is deeply valued. We remain fully committed to delivering sustainable growth and long-term value for all.
MUHAMMAD FAROOQ NASEEM
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Chairman / Director Lahore: April 28, 2026
TAHA MUHAMMAD NASEEM
Chief Executive / Director
EQUITY AND LIABILITIES SHARE CAPITAL AND RESERVES
Ordinary shares of PKR.10 each
Condensed Statement of Financial Position(Un-Audited) (Audited)
Mar 31, 2026 June 30, 2025
5,000,000 |
3,163,551 1,603,161 (5,724,051) 3,029,781 1,739,303 3,811,746 |
2,692,669 270,958 540,256 119,973 -2,304,163 21,836 |
5,949,855 |
1,257,119 1,156,960 1,082 20,322 193,355 546,570 1,075,000 491,300 98,975 - |
4,840,683 - 14,602,284 |
Note (Rupees in thousand)
5,000,000
Issued, subscribed and paid up share capital 4
Share premium reserve Accumulated loss
Revaluation surplus on property, plant and equipment
Due to related parties 5
NON CURRENT LIABILITIES
Long term financing from banking companies 6
Government grant Lease liabilities
Payable to provident fund trust
Other loans and liabilities 7
Deferred liabilities 8
Long term advances and deposits
CURRENT LIABILITIES
Trade and other payables
Deposits, accrued liabilities and advances Unclaimed dividend
Payable to provident fund trust Mark up accrued
Short term financing from banking companies
Short term financing from related parties 11
Current portion of non current liabilities Current portion of government grant Provision for taxation
CONTINGENCIES AND COMMITMENTS 9
3,163,551
1,603,161
(5,724,001)
3,100,222
1,739,303
3,882,237
2,711,889
343,300
557,363
141,901
-2,352,367
21,836
6,128,656
1,377,367
875,945
1,082
8,967
189,286
298,898
745,000
505,221
108,235
-
4,110,001
-
14,120,894
The annexed notes from 1 to 15 form an integral part of these condensed interim financial statements.
TAHA MUHAMMAD NASEEM
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Chief Executive
MUHAMMAD KAMRAN
Chief Financial Officer
As at March 31, 2026ASSETS
NON CURRENT ASSETS
PROPERTY, PLANT AND EQUIPMENT
((Un-Audited) (Audited)
Mar 31, 2026 June 30, 2025
Note (Rupees in thousand)
Operating fixed assets 10
Capital work in progress Intangible assets
Long term deposits and prepayments
CURRENT ASSETS
Stores, spares and loose tools Stock in trade
Trade debts Loans and advances
Trade deposits, short term prepayments and Current account balances with statutory Authorities
Cash and bank balances
11,928,483
11,641,127 10,460 696 59,190 11,711,472 |
1,515,880 293,981 243,365 67,581 - -749,126 20,878 |
2,890,812 |
14,602,284 |
10,460
808
59,190
11,998,941
1,094,228
233,472
233,350
37,086
-
-353,218
170,599
2,121,953
14,120,894
ZAKA MUHAMMAD NASEEM
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Director
Nine Month ended | Third Quarter ended | ||
March 31 2026 | March 31 2025 | March 31 2026 | March 31 2025 |
Sales
Local sales
Less: Excise duty
Sales tax Commission / discount
Net sales Cost of sales
Gross profit
Operating expenses Distribution cost Administrative expenses
Operating profit / (loss)
Other operating income / (expenses) - net
(Rupees in thousand) (Rupees in thousand)
8,027,177 | 6,912,485 | 3,052,084 | 2,254,079 | |
1,389,031 | 1,172,711 | 527,534 | 396,981 | |
1,425,597 | 1,242,206 | 533,104 | 396,263 | |
5,850 | 5,432 | 2,084 | 1,842 | |
2,820,479 | 2,420,349 | 1,062,723 | 795,086 | |
5,206,699 | 4,492,135 | 1,989,361 | 1,458,992 | |
(4,693,562) | (4,115,821) | (1,772,728) | (1,328,376) | |
513,136 | 376,314 | 216,633 | 130,616 | |
(9,914) | (10,277) | (3,478) | (550) | |
(38,160) | (38,616) | (10,664) | (12,690) | |
(48,074) | (48,893) | (14,142) | (13,240) | |
465,063 | 327,421 | 202,491 | 117,376 | |
2,458 | (1,839) | (4,083) | (245) | |
467,520 | 325,582 | 198,408 | 117,130 | |
(496,463) | (476,638) | (158,190) | (148,018) | |
(28,943) | (151,056) | 40,218 | (30,888) | |
(65,162) | (56,227) | (24,896) | (18,263) | |
(94,105) | (207,283) | 15,322 | (49,150) | |
- | - | - | - | |
23,614 | 107,969 | (14,436) | 43,523 | |
23,614 | 107,969 | (14,436) | 43,523 | |
(70,491) | (99,314) | 886 | (5,627) | |
(0.22) | (0.31) | 0.00 | (0.02) | |
Finance costs
(Loss) / profit before levy and taxation
Levy
(Loss) / profit before taxation
Taxation:
Current Deferred
Loss after taxation
Earnings Per Share- Basic and Diluted
The annexed notes from 1 to 15 form an integral part of these condensed interim financial statements.
TAHA MUHAMMAD NASEEM
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Chief Executive
MUHAMMAD KAMRAN
Chief Financial Officer
ZAKA MUHAMMAD NASEEM
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For the Period ended March 31, 2026(Rupees in thousand)
(Rupees in thousand)
Loss for the period
(99,314)
(5,627)
Other comprehensive income
-
-
Total comprehensive loss for the period
(5,627)
886
(99,314)
(70,491)
886
-
(70,491)
-
Nine Month ended | Third Quarter ended | ||
March 31 2026 | March 31 2025 | March 31 2026 | March 31 2025 |
The annexed notes from 1 to 15 form an integral part of these condensed interim financial statements.
TAHA MUHAMMAD NASEEM
Chief Executive
MUHAMMAD KAMRAN
Chief Financial Officer
ZAKA MUHAMMAD NASEEM
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Director
Condensed Interim Cash Flow Statement (Un-Audited) For the Period ended March 31, 2026March 31, 2026 March 31, 2025
(30,494)
(179,828)
20,878
(6,267)
(118,344)
(20,627)
281,015
(28,943)
786,016
757,073
(555,450)
201,623
-
(350,475)
(430,095)
(281,243)
(8,993)
289,367
170,599
(149,720)
(1,904)
-
330,000
(35,232)
(52,215)
99,000
247,672
-(299,858)
296,349
113
(60,509)
(1,256)
(3,749)
-
10,053
52,420
329,954
104,035
(420,395)
(8,993)
-
(Rupees in thousand)
CASH FLOWS FROM OPERATING ACTIVITIES
Loss before taxation
Adjustment of items not involving movement of cash:
Depreciation Amortization
Reversal of allowance for impairment Reversal of provision of slow moving and obsolete stock Trade payable written off Exchange loss on retranslation of foreign creditors Unwinding of lease Unwinding of provident fund mark up Unwinding of long term finances
Finance cost
Net cash generated/(used) before working capital changes
(Increase)/Decrease in operating assets: Stores, spares and loose tools Stock in trade
Trade Debts Loans and advances
Trade deposits, short term prepayments and current account balances with statutory authorities
Increase / (decrease) in current liabilities: Trade and other payables Deposits, accrued liabilities and advances Payable to Provident fund trust
Cash generated/(used) in operations
Long term deposits and prepayments Finance cost paid
Income tax paid
Net Cash Generated/(Used) In Operating Activities
CASH FLOWS FROM INVESTING ACTIVITIES
Fixed capital expenditure
Un-allocated capital expenditure
Net Cash Used Investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Receipts from due to related parties Long term financing paid to banking companies Long term financing received from banking companies Short term financing received from banking companies Short term financing paid to banking companies Short term financing received from related parties Other loans and liabilities repaid- net Payment of lease liabilities
Net Cash Inflows From Financing Activities Net Increase in Cash and Cash Equivalents Cash and cash equivalents at beginning of the period Cash and cash equivalents at end of the period
(151,056)
306,620
-
113
-1,966
53,540
454
9,807
359,795
103,221
835,516
684,460
(126,375)
(209,363)
1,133
(29,068)
23,386
(479,689)
282,185
(9,599)
(547,390)
137,070
(2,500)
(244,159)
(124,592)
(234,180)
(46,188)
85
(46,103)
(232,117)
15,000
50,000
3,869
505,000
-
(40,906)
-
300,846
20,563
21,724
42,287
The annexed notes from 1 to 15 form an integral part of these condensed interim financial statements.
TAHA MUHAMMAD NASEEM
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Chief Executive
MUHAMMAD KAMRAN
Chief Financial Officer
ZAKA MUHAMMAD NASEEM
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Condensed Interim Statement of Changes in Equity (Un-Audited)Share Capital | Capital Reserve | Revenue Reserves | Capital Reserve | Due to related parties | Total |
Share premium reserve | Accumulated loss | Revaluation surplus on property, plant and equipment |
<- - - - - - - - - - - - - - - - Rupees in thousand > | ||||||
Balance as at June 30, 2024 - Audited | 3,163,551 | 1,603,161 | (5,669,654) | 3,199,013 | 1,724,303 | 4,020,374 |
Total comprehensive loss for the period | - | - | (99,314) | - | - | (99,314) |
Loan received during the period | - | - | - | - | 15,000 | 15,000 |
Incremental depreciation on revaluation | ||||||
surplus on property, plant and equipment - net of deferred tax - - 49,395 (49,395) - - Balance as at March 31, 2025 | ||||||
- Unaudited | 3,163,551 | 1,603,161 | (5,719,573) | 3,149,618 | 1,739,303 | 3,936,060 |
Balance as at June 30, 2025 - Audited | 3,163,551 | 1,603,161 | (5,724,001) | 3,100,222 | 1,739,303 | 3,882,237 |
Total comprehensive loss for the period | - | - | (70,491) | - | - | (70,491) |
Loan received during the period | - | - | - | - | - | - |
Incremental depreciation on revaluation | ||||||
surplus on property, plant and
equipment - net of deferred tax - - 70,441 (70,441) - -
3,163,551
1,603,161
(5,724,051)
3,029,781
1,739,303 3,811,746
Balance as at March 31, 2026
- Unaudited
The annexed notes from 1 to 15 form an integral part of these condensed interim financial statements.
TAHA MUHAMMAD NASEEM
Chief Executive
MUHAMMAD KAMRAN
Chief Financial Officer
ZAKA MUHAMMAD NASEEM
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Director
Notes to the Condensed Interim Financial Statements (Un-Audited) For the Period ended March 31, 2026THE COMPANYAND ITS OPERATIONS
The Company is a public limited company incorporated in Pakistan and is listed on Pakistan Stock Exchange. The Company started its production on 1983 and has been engaged in production and selling of cement. Since 2019, the company is a subsidiary of Calicom Industries (Pvt.) Limited (Holding Company) and acquired under the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The registered office of the company is situated at 5-Zafar Ali Road, Gulberg - V, Lahore. The factory is situated at Dandot Railway Station, District Jhelum, Pakistan.
BASIS OF PREPARATION
Statement of Compliance
These condensed interim financial statements of the Company for the period ended March 31, 2026 have been prepared in accordance with the accounting and reporting standards 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' (IAS 34), issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 2017 (the Act); and
Where the provisions of and directives issued under the Companies Act, 2017.
Where the provisions of or directives issued under the Act differ with the requirements of IAS 34, the provisions of and directives issued under the Act have been followed.
These condensed interim financial statements do not include all the information and disclosures required in the annual audited financial statements, and should be read in conjunction with the Company's annual audited financial statements for the year ended June 30, 2025.
Functional and Presentation Currency
These condensed interim financial statements have been prepared and presented in Pakistani Rupee which is the Company's functional and presentation currency.
SIGNIFICANT ACCOUNTING POLICIES
The accounting policies and methods of computation adopted in the preparation of these condensed interim financial statements are consistent with those applied in the preparation of the annual audited financial statements for the year ended June 30, 2025 except those which are disclosed in these financial statements.
Accounting Estimates And Judgements
The preparation of interim financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts. Actual results may differ from these judgements, estimates and assumptions.
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Judgements and estimates made by the management in the preparation of these condensed interim financial statements are the same as those applied in the annual audited financial statements of the Company for the year ended June 30, 2025.
Note (Un-audited) (Audited)
ISSUED, SUBSCRIBED AND PAID UP SHARE CAPITAL
CAPITAL
3,076,051
87,500
3,163,551
1,529,303
210,000
1,739,303
3,076,051
87,500
3,163,551
1,529,303
210,000
1,739,303
307,605,132 (2025: 307,605,132) ordinary shares of PKR. 10 each fully paid in cash
8,750,000 (2025: 8,750,000) ordinary shares of PKR. 10 each issued as bonus shares
DUE TO RELATED PARTIES
Un-secured and interest free
Loan from holding company- Calicom Industries (Private) Limited
Loan from associated company 5.1
On 31 October 2023, the Company entered an arrangement with Tetra Engineering Private Limited for interest free loan of PKR. 500,000,000 in installments, from time to time, to complete the BMR and to support the working capital requirements of the Company. The loan will be converted into equity at a pre-determined price.
2,286,061
851,196
3,137,257
(405,270)
(39,318)
2,692,669
1,308,911
748,124
229,026
2,286,061
(204,504)
(32,000)
2,049,557
LONG TERM FINANCING FROM BANKING COMPANIES
Demand finance facility - From The Bank of Punjab (BOP) 6.1
Temporary economic refinance facility (TERF) 6.2
Less: Current portion
Payable within next 12 months Overdue
Demand Finance Facility - From The Bank of Punjab (BOP)
Demand finance facility - DF 1 Demand finance facility - DF 2
Demand finance facility - DF 3 (For BMR)
Less: Current portion
Payable within next 12 months Overdue
2,232,404
920,073
3,152,477
(405,270)
(35,318)
2,711,889
1,354,137
738,863
139,404
2,232,404
(204,504)
(28,000)
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1,999,900
Temporary Economic Refinance Facility (TERF)
from:
- The Bank of Punjab
595,313
665,625
- BankIslami Pakistan Limited
216,797
244,827
- Bank Al-Habib Limited
187,830
211,992
- JS Bank Limited
221,191
249,165
Loan
March 31, 2026 March 31, 2025 (Rupees in thousand)
(Un-audited) (Audited)
Less: Impact of Government Grant
Less: Current portion
Payable within next 12 months Overdue
1,371,609
1,221,130
(369,933)
851,196
(200,766)
(7,318)
643,113
(451,536)
920,073
(200,766)
(7,318)
711,989
There is no change in terms and condition of these loans which are disclosed in financial statements for the year ended June
30, 2025.
OTHER LOANS AND LIABILITIES - Unsecured
LOANS:
35,232
(35,232)
294
294
(294)
(294)
-
1,496,296
807,867
2,304,163
From Economic Affairs Division,
Government of Pakistan (EAD)
Less: Paid during the period OTHER LIABILITIES:
Peace agreement arrears
Less: Current Portion Overdue Overdue
DEFFERED LIABILITIES
Long term financing from related parties Deferred taxation
CONTIGENCIES AND COMMITMENTS
35,232
-
294
35,526
(35,526)
(35,526)
-
1,520,886
831,481
2,352,367
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There has been no significant change in contingencies and commitments since the date of preceding published annual financial statements as at June 30, 2025 and period december 31, 2025.
(Un-audited) (Audited)
12,242,169
96,263
12,338,432
(409,948)
11,928,483
11,928,483
8,993
11,937,476
(296,349)
11,641,127
OPERATING FIXED ASSETS
Opening fixed assets at WDV Additions
Less: depreciation
TRANSACTIONS WITH RELATED PARTIES
All transactions with related parties have been properly disclosed in the relevant notes of these un-audited condensed financial statements except transactions carried out during the period as follows:
March 31, June 30,
2026 2025
(Rupees in thousand)
90,809
115,400
310,000
160,000
9,120
180,000
-
-
Name Relationship Nature of transaction (Un-audited) (Audited) Calicom Industries Private Ltd Associated Company
due to common director Markup accrued
Markup paid Loan Received
161,973
-775,000
Digital World Pakistan Private Ltd Associated Company
due to common director Loan Repaid Sales of goods
120,000
-
DWP Technologies (Private) Limited Associated Company
due to common director Loan Received
Loan Repaid
50,000
50,000
Tetra Engineering Private Limited Associated Company
due to common director Loan convertible in equity
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15,000
FINANCIAL RISK MANAGEMENT
The Company's financial risk management objectives and policies are consistent with those disclosed in the preceding audited annual published financial statements of the Company for the year ended June 30, 2025.
CORRESPONDING FIGURES
Corresponding figures have been rearranged and reclassified, wherever necessary, for the purpose of comparison. However, no significant rearrangements or reclassifications have been made in these condensed interim financial statements.
DATE OF AUTHORIZATION FOR ISSUE
These condensed interim financial statements were authorized for issue on April 28, 2026 by the Board of Directors of the company.
GENERAL
Figures have been rounded off the nearest thousands of Pakistan Rupee (PKR / Rupees).
TAHA MUHAMMAD NASEEM
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Chief Executive
MUHAMMAD KAMRAN
Chief Financial Officer
ZAKA MUHAMMAD NASEEM
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