Half Yearly Report
December 31. 2025
DEWAN FAROOOUE SPINNINO MILLS LIMITED
DEWAN FAROOOUE SPINNING MILLS LIMITED
CONTENTS
Company Information 2
Directors' Repon
- - - 3
Independent Auditors' Repon 5
Statement ofFinancial Position 7
Statement ofProfit or Loss
Statement of Comprehensive Income 9
Statement of Cash Flows 10
Statement of Changes in Equity 11
Notes to the Financial Statements 12
15
DEWAN FAROOQUE SPINNING MILLS LIMITED |
COMPANY INFORMATION |
BOARD OF DIRECTORS
Executive Directors : Syed Maqbool Ali
Chief Executive Officer & Director
Non-Exective Director | : Mehmood-ul-Hassan Asghar - Chairman, Board of Directors |
Mr. Ghazanfar Baber Siddiqi | |
Mr. Abdul Basit | |
Mr. Muhammad Hanif German | |
Mrs. Nida Jamil |
Independent Director | : | Mr. Aziz -ul-Haque |
Audit Committee : Mr. Aziz -ul-Haque (Chairman) Mr. Abdul Basit (Member)
Mr. Ghazanfar Baber Siddiqi (Member)
Human Resources & Remuneration Committee : Mr. Aziz -ul-Haque (Chairman)
Mr. Mehmood-ul-Hassan Asghar (Member) Syed Maqbool Ali (Member)
Auditors : Feroze Sharif Tariq & Company Chartered Accountants
4/N/4 Block-6, P.E.C.H.S. Karachi
Company Secretary | : | Mr. Muhammad Hanif German |
Chief Financial Officer | : | Mr. Muhammad Irfan Ali |
Tax Advisor | : | Abbas & Atif Law Associates |
Legal Advisor | : | Sharif & Co. Advocates |
Bankers : United Bank Limited
Bank Islami Pakistan Limited MCB Bank Limited
Askari Bank Limited Allied Bank Limited Bank Makramah Limited
Registered Office : Dewan Centre
3-A, Lalazar Beach Hotel Road Karachi.
Shares Registrar & Transfer Agent : BMF Consultants Pakistan (Private) Limited
Anum Estate Building, Room No. 310 & 311, 3rd Floor, 49, Darul Aman Society,
Main Shahrah-e-Faisal, adjacent to Baloch Colony Bridge, Karachi 75350, Pakistan.
Factory Office : 54 Km, Multan Road, Phool Nagar By Pass District Kasur, Punjab , Pakistan.
Website | : | https://www.yousufdewan.com |
IF YE GIVE THANKS, I WILL GIVE YOU MORE (HOLY QURAN)
Dear Shareholder(s), Assalam-o-Alykum!
The Board of Directors of your Company is pleased to present unaudited condensed interim financial statements for the half year ended December 31, 2025 in compliance with the requirements of section 237 of the Companies Act, 2017 and code of corporate governance issued by Securities and Exchange Commission of Pakistan (SECP).
Economic & Industrial OverviewPakistan's economy showed uneven performance in the first half of FY2026, with subdued activity due to a challenging macroeconomic environment. Key sectors showed moderate growth, but overall momentum remained cautious due to weaker export performance and unresponsive investment activity. The textile sector, contributing 60% to exports and employing 40% of the labor force, faces significant hurdles including increased yarn imports leading to reduced demand and lower prices of local yarn. Additionally, rising power costs driven by higher energy tariffs and increased levies, continue to pose a significant challenge to the business.
Operating results and performanceCompany's net revenue for half year remained to Rs. 112.070 million as compared to net revenue of Rs. 76.335 million of the corresponding period of last year. Company has suffered gross loss of Rs. 155.625 million as compared to the gross loss of Rs. 162.452 million of comparable period, whereas operating expenses of the company have decreased by Rs.1.910 million. Further, due to working capital constraints, the company continued the production of yarn on conversion basis to keep the company operational.
The auditors of the Company have qualified their review report on default in repayment of instalments of restructured liabilities and related non-provisioning of mark-up. They have also added matter of emphasis paragraph in their report regarding doubt about company's ability to continue as going concern.
Company has approached its lenders for further restructuring of its liabilities without markup, which is in process. Management is hopeful that such revision will be finalized soon. Moreover, the markup outstanding up to the date of restructuring is Rs.208.531 million, for which the company would be liable to pay in the event of default of terms of agreement, the management is confident that upon finalization of revised restructuring 3
this amount will remain eligible for waiver, hence no provision of the same has been made in these financial statements. Further, sponsors also provide the support as and when required to meet the working capital requirements of the company and accordingly, the preparation of these financial statements using going concern assumption is justified.
Future OutlookPakistan's economy is expected to remain cautiously stable, driven by gradual agricultural recovery, reconstruction activity, and moderate services sector growth. Inflation is likely to ease, allowing for accommodative monetary policy, but risks are anticipated due to a widening trade deficit and slowing export growth. The economy is projected to stabilize with easing inflation, improved forex reserves, and a stable policy environment, though challenges like high energy costs, currency volatility, and tight liquidity are expected to persist.
ConclusionWith grace of Allah Almighty, the management of the company will put its best endeavors to bring better results in forthcoming half year. In conclusion, we bow beg and pray to Almighty Allah, Rahman-o-Rahim, in the name of our beloved Prophet Muhammad (Peace be upon him) for the continued showering of his blessings, Guidance, strength, health and prosperity to us, our company, country and nation, and also pray to Almighty Allah to bestow peace, Harmony, brotherhood and unity in true Islamic spirit to whole of Muslim Ummah; Ameen: Summa Ameen
LO-MY LORD IS INDEED HEARER OF PRAYER (HOLY QURAN)
By and under Authority of the Board of Directors
Syed Maqbool Ali Chief Executive Officer & Director Mehmood-ul-Hassan Asghar Chairman - Board of Directors
Dated: February 26, 2026
REVIEW REPORT ON REVIEW OF INTERIM FINANCIAL STATEMENTS INDEPENDENT AUDITORS' REVIEW REPORT
TO THE MEMBERS OF DEWAN FAROOQUE SPINNING MILLS LIMITED
Introduction
We have reviewed the accompanying Condensed interim Statement of financial Position of Dewan Farooque Spinning Mills Limited ("the company") as at December 31, 2025 and the related Condensed interim statement of profit or loss, Condensed interim statement of comprehensive income, Condensed interim Statement of cash flow, Condensed interim statement of changes in equity and the notes to the Condensed interim financial statement for the six months period then ended (hereinafter referred to as the "interim financial statements"). Management is responsible for the preparation and Presentation of these interim financial statements in accordance with approved accounting and reporting standards as applicable in Pakistan for interim financial reporting. Our responsibility is to express a conclusion on these interim financial statements based on our review.
Scope of Review
We conducted our review in accordance with the 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. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Basis of Qualified Opinion
The company defaulted in repayment of instalments of restructured liabilities of Financial institutions, hence as per clause 10.2 of the Compromise Agreement of the company, the entire outstanding restructured liabilities of Rs.393.602 (June 30, 2025: Rs.393.602) million along with markup of Rs. 208.513 June 30, (2025:Rs.208.513) million (eligible for waiver outstanding as of date of restructuring) become immediately payable, therefore provision for markup should be made in these financial statements. The Company has defaulted in restructured liabilities as per compromise agreement, the lenders filed suits for execution of consent decrees therefore, and the Balance Confirmations from Financial Institutions have not been received. Further, the short term finance facilities have expired and not been renewed by banks amounting to Rs.
267.10 (June 30, 2025:Rs. 267.10) million. The company is facing litigations from its lenders; the aggregate suit amount is Rs. 37.405 (June 30, 2025: Rs. 37.405) million, the company has also not provided markup on the same amount as disclosed in Para (b) of this report and the execution has been filed by the lenders of the Company amounting to Rs. Rs.684.136 million and markup thereon of Rs.208.513 million (eligible for waiver outstanding as of date of Restructuring).
Had the provisions for the mark up, as discussed in preceding paragraph (a), and along with markup not booked in these financial statements as per note 9 to the financial Statements, the loss after taxation would have been higher by Rs. 553.334 (June 30, 2025: Rs 523.021) million and markup payable would have been higher and shareholders' equity would have been lower by Rs.553.334 (June 30, 2025: Rs.523.021).
Qualified Conclusion
Based on our review, except for the matter discussed in the preceding paragraph (a) and (b) and its effects, nothing has come to our attention that causes us to believe that these accompanying interim financial statements as of and for the six months period ended December 31, 2025 are not prepared, in all material respects, in accordance with approved accounting and reporting standards as applicable in Pakistan for interim financial
Material Uncertainty Relating to Going Concern
Without further qualifying our opinion, we draw attention of the members to note 2 to the interim financial Statements which indicates that as of December 31, 2025 the company incurred a loss after taxation of Rs. 136.091 (December 31, 2024 Rs.153.296) million and as of that date it has accumulated losses amounting to Rs. 2.204 (June 30, 2025 Rs. 2.136) billion and its current liabilities exceeded its current assets by Rs. 1.730 (June 30, 2025: Rs. 1.669) billion without providing mark up of Restructured and other liabilities and as refer in above para (a) and (b). Furthermore, the company defaulted in repayments of instalments of restructured liabilities and short term finance facilities which has been expired and not renewed by banks amounting to Rs. 267.10 million as discussed in Para (a) above. The Company is in litigation with its lenders and the lenders filed suits for execution of consent decrees. Following Course, the company has started manufacturing of yarn on Contract basis due to working Capital constraints note 1 in the financial statements. These conditions, along with other matters as set forth in note 2 indicate the existence of material uncertainty which may cast significant doubt about Company's ability to Continue as going concern therefore the company may be unable to realize its assets and discharge its liabilities in normal Course of Business. The amounts of the current liabilities and Loss reported in said note do not include the effect of matters discussed in Basis for Qualified opinion. Our opinion is not modified in respect of this matter..
Other matter
The figures of the condensed interim statement of profit or loss and condensed interim statement of other comprehensive income and the notes forming part thereof for the quarters ended December 31, 2025 and December 31, 2024 have not been reviewed and we do not express a conclusion on them, we are required to review only the cumulative figures for the Six month ended December 31, 2025.
The engagement partner on the review resulting in this independent auditor's review report is Mohammad Ghalib.
Place: Karachi:
Dated: February 27, 2026 UDIN: RR2025101612P8fdctNu
(Muhammad Ghalib)
CHARTERED ACCOUNTANTS
DEWAN FAROOQUE SPINNING MILLS LIMITED |
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION |
AS AT 31ST DECEMBER 2025 |
Un-Audited | Audited |
December 31, | June 30, |
2025 | 2025 |
-------------(Rupees)-------------- | |
EQUITY AND LIABILITIES |
SHARE CAPITAL AND RESERVES |
Authorized share capital |
100,000,000 (2025: 100,000,000 ) Ordinary shares of Rs.10/- each |
Issued, subscribed and paid-up capital |
Revenue reserve - accumulated loss |
Capital reserve - revaluation surplus on property, plant and equipment |
NON-CURRENT LIABILITIES |
Long term loan |
Deferred taxation |
Deferred liability for staff gratuity |
CURRENT LIABILITIES |
Trade and other payables |
Accrued mark-up |
Short term borrowings |
Current & overdue portion of long term liabilities |
Provision for taxation |
7 | 11,870,384,303 |
49,479,716 |
CURRENT ASSETS |
Stores & spares |
Stock in trade |
Trade debts- unsecured, considered good |
Loans and advances - unsecured, considered good |
Trade deposits and other receivables - considered good |
Taxes recoverable |
Cash and bank balances |
ASSETS |
NON-CURRENT ASSETS |
Property, plant and equipment |
Long term deposits |
1,000,000,000 1,000,000,000
977,507,260 |
(2,203,837,412) |
10,821,345,124 |
9,595,014,972 |
977,507,260 |
(2,136,334,737) |
10,889,933,378 |
9,731,105,901 |
- |
570,219,082 |
24,503,718 |
2,656,250 |
598,234,002 |
21,976,991 |
595,428,703 |
390,303,597 |
457,864,219 |
433,494,050 |
- |
1,877,090,569 |
- |
12,066,828,341 |
550,535,583 |
390,303,597 |
412,864,219 |
445,994,050 |
- |
1,799,697,449 |
- |
12,153,670,593 |
11,975,049,448 |
48,270,516 |
23,059,956 |
15,516,540 |
717,936 |
7,843,600 |
43,771,074 |
47,607,518 |
8,447,698 |
146,964,322 |
24,861,938 |
15,516,540 |
889,251 |
5,904,428 |
36,529,801 |
41,658,296 |
4,990,375 |
130,350,629 |
The annexed notes form an integral part of these condensed interim financial statements.
Syed Maqbool Ali Chief Executive Officer & Director Muhammad Irfan Ali Chief Financial Officer Mehmood-ul-Hassan Asghar Chairman Board of Directors
DEWAN FAROOQUE SPINNING MILLS LIMITED |
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED) |
FOR THE HALF YEAR ENDED 31ST DECEMBER 2025 |
Sales / Revenue - Net |
Cost of sales / revenue |
Gross (loss) |
Operating expenses |
Administrative expenses |
Selling and distribution expenses |
Reversal of provision for doubtful debts |
Operating (loss)
NotesHalf Year Ended | Quarter Ended | ||||
Dec 31, | Dec 31, | Dec 31, | Dec 31, | ||
2025 | 2024 | 2025 | 2024 | ||
-------------------------(Rupees)-------------------------- | |||||
112,070,221 76,335,050 41,530,071 5,756,000
(267,694,838) (238,786,860) (132,850,377) (83,453,986) (155,624,617) (162,451,810) (91,320,306) (77,697,986)
(12,113,252) |
(6,233,276) |
10,463,125 |
(7,883,403) |
(163,508,020) |
(13,350,880) |
(6,905,579) |
17,308,143 |
(2,948,316) |
(165,400,126) |
(6,964,500) |
(3,310,987) |
10,463,125 |
187,638 |
(91,132,668) |
(5,880,216) |
(3,522,591) |
17,308,143 |
7,905,336 |
(69,792,650) |
1,757,989 |
(163,642,137) |
Other income 835,292
(162,672,728)
- -(91,132,668) (69,792,650)
Bank charges | 9 | (32,244) | (60,715) | (20,155) | (15,189) |
(Loss) before taxation | (162,704,972) | (163,702,852) | (91,152,823) | (69,807,839) |
Levies |
Loss before income tax |
(1,400,878) | (954,188) | (519,126) | (71,850) | |||
(164,105,850) | (164,657,040) | (91,671,949) | (69,879,689) |
Taxation - Net | 28,014,921 | 11,360,780 | 14,007,461 | 5,680,390 | |||
(Loss) after taxation | (136,090,929) | (153,296,260) | (77,664,488) | (64,199,299) |
(Loss) per share - basic and diluted | 10 | (1.39) | (1.57) | (0.79) | (0.66) |
The annexed notes form an integral part of these condensed interim financial statements.
Syed Maqbool Ali Muhammad Irfan Ali Mehmood-ul-Hassan Asghar
Chief Executive Officer & Director Chief Financial Officer Chairman Board of Directors
DEWAN FAROOQUE SPINNING MILLS LIMITED |
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) |
FOR THE HALF YEAR ENDED 31ST DECEMBER 2025 |
Half Year Ended | Quarter Ended | ||
Dec 31, | Dec 31, | Dec 31, | Dec 31, |
2025 | 2024 | 2025 | 2024 |
-------------------------(Rupees)-------------------------- | |||
(Loss) after taxation (136,090,929) (153,296,260) (77,664,488) (64,199,399)
Items that will not be subsequently reclassified to profit or loss: Other Comprehensive Income Total comprehensive income / (loss) for the period (136,090,929) (153,296,260) (77,664,488) (64,199,399)The annexed notes form an integral part of these condensed interim financial statements.
Syed Maqbool Ali Chief Executive Officer & Director Muhammad Irfan Ali Chief Financial Officer Mehmood-ul-Hassan Asghar Chairman Board of Directors
DEWAN FAROOQUE SPINNING MILLS LIMITED |
CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) |
FOR THE HALF YEAR ENDED 31ST DECEMBER 2025 |
CASH FLOW FROM OPERATING ACTIVITIES |
(Loss) before taxation |
Adjustments for non cash and other items: |
Gain on sale of fixed assets |
Depreciation |
Financial charges |
(Reversal) / Provision for doubtful debts |
Provision for gratuity |
Cash flow before working capital changes |
Working Capital changes |
(Increase) / Decrease in current assets: |
Stores & spares |
Trade debts |
Stock in trade |
Loans & advances |
Trade deposits & other receivables |
Increase / (Decrease) in current liabilities: |
Trade and other payables |
Cash generated from / (used in) operations |
Payments for: |
Taxes paid |
Gratuity paid |
Financial charges paid |
CASH FLOW FROM INVESTING ACTIVITIES |
Capital expenditure incurred |
Sale proceeds on disposal of fixed assets |
Long term deposits |
Net cash outflow from investing activities |
CASH FLOW FROM FINANCING ACTIVITIES |
Long term loan |
Short term borrowings |
Net cash inflow / (out flow) from financing activities |
Net increase / (decrease) 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 |
The annexed notes form an integral part of these condensed interim financial statements.
Syed Maqbool Ali Muhammad Irfan Ali Chief Executive Officer & Director Chief Financial Officer Notes 8
December 31, | December 31, |
2025 | 2024 |
--------------(Rupees)--------------- | |
(162,704,972) (163,702,852)
(835,292) |
116,127,463 |
32,244 |
(10,463,125) |
3,742,990 |
(54,100,692) |
(1,757,989) |
61,751,829 |
60,715 |
(17,308,143) |
6,626,128 |
(114,330,312) |
1,801,982 |
10,634,440 |
- |
(1,939,172) |
(7,241,273) 44,893,120 |
283,380 |
40,024,099 |
- |
(328,517) |
10,126,518 76,282,883 |
(5,951,595) 12,058,051
(7,350,100) |
(1,216,263) |
(32,244) |
(14,550,202) |
(1,227,618) |
(10,943,643) |
(60,715) |
(173,925) |
(11,477,025) |
850,000 |
(1,209,200) |
(11,836,225) |
(3,442,600) |
5,760,000 |
(9,483,000) |
(7,165,600) |
(15,156,250) (2, |
45,000,000 |
29,843,750 (2, |
3,457,323 (9, |
4,990,375 15, |
8,447,698 5 |
656,250)
-656,250)
995,775)
666,199
,670,424
Mehmood-ul-Hassan Asghar Chairman Board of Directors
DEWAN FAROOQUE SPINNING MILLS LIMITED |
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) |
FOR THE HALF YEAR ENDED 31ST DECEMBER 2025 |
Issued, subscribed and Paid-up Capital | Revenue Reserve | Capital Reserve | Total |
Accumulated loss | Revaluation surplus on property, plant & equipment |
Balance as at July 01, 2024 | 977,507,260 | (1,994,916,593) | 2,164,136,379 | 1,146,727,046 |
(Loss) for the period Other comprehensive income | -- -- | (153,296,260) -- | -- -- | (153,296,260) -- |
-- | (153,296,260) | -- | (153,296,260) | |
Transfer to accumulated loss in respect of incremental depreciation - net of tax | -- | 27,814,321 | (27,814,321) | -- |
Balance as at December 31, 2024 | 977,507,260 | (2,120,398,532) | 2,136,322,058 | 993,430,786 |
Balance as at July 01, 2025 | 977,507,260 | (2,136,334,737) | 10,889,933,378 | 9,731,105,901 |
(Loss) for the period Other comprehensive income | -- -- | (136,090,929) -- | -- -- | (136,090,929) -- |
-- | (136,090,929) | -- | (136,090,929) | |
Transfer to accumulated loss in respect of incremental depreciation - net of tax | -- | 68,588,254 | (68,588,254) | -- |
Balance as at December 31, 2025 | 977,507,260 | (2,203,837,412) | 10,821,345,124 | 9,595,014,972 |
The annexed notes form an integral part of these condensed interim financial statements.
Syed Maqbool Ali Chief Executive Officer & Director Muhammad Irfan Ali Chief Financial Officer Mehmood-ul-Hassan Asghar Chairman Board of Directors
DEWAN FAROOQUE SPINNING MILLS LIMITED |
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENT (UN-AUDITED) |
FOR THE HALF YEAR ENDED 31ST DECEMBER 2025 |
1 | THE COMPANY AND ITS OPERATIONS |
Dewan Farooque Spinning Mills Limited is incorporated in Pakistan on December 22, 2003 as public limited company, under the Companies Ordinance, 1984. The shares of the company are listed on the Pakistan Stock Exchange Limited. The registered office of the company is located at Dewan Centre, 3-A, Lalazar Beach Hotel, Road, Karachi, Pakistan; while its manufacturing facilities are located at 54 km Multan Road, near the Phool Nagar By-pass, District Kasur, near the city of Lahore in Pakistan. The principal activity of the company is manufacturing and sale of fine quality yarn. Company also manufactures yarn on contract basis.
2 | GOING CONCERN ASSUMPTION |
The condensed interim financial statements for the half year ended December 31, 2025 reflect that company sustained net loss after taxation of Rs. 136.091 million (2025: Rs. 213.301 million) and as of that date it has negative reserves of Rs. 2,203.837 million and its current liabilities exceeded its current assets by Rs. 1,730.126 million (2025: 1,669.347 million). Furthermore, the short term facilities of the company have expired and not been renewed by banks and it had defaulted in repayment of restructured liabilities. Following course, the company is facing litigations with its lenders. These conditions indicate the existence of material uncertainty, which may cast significant doubt about Company's ability to continue as going concern.
These condensed interim financial statements have been prepared on going concern assumption as the Company approached its lenders for further restructuring of its liabilities and is confident that the Company's restructuring proposals without markup will be accepted by the financial institutions / banks. As the conditions mentioned in the foregoing paragraph are temporary and would reverse therefore, the preparation of condensed interim financial statement using going concern assumption is justified.
3 | BASIS OF PREPARATION |
3.1 | These condensed interim financial statements of the Company for the half year ended 31, December 2025 have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards 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 and provisions of and directives issued under the Companies Act, 2017. Where provisions of and directives issued under the Companies Act, 2017 differ from the requirements of IAS 34, the provisions of and directives issued under the Companies Act, 2017 have been followed. |
3.2 | 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 30 June 2025. |
4 | SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES |
4.1 | The accounting policies and methods of computation adopted and applied in the preparation of these condensed interim financial statements are consistent with those followed in the preparation of the Company's annual financial statements for the year ended 30 June 2025. |
4.2 | Application of new and revised International Financial Reporting Standards |
4.2.1 | Standards, amendments to standards and interpretations becoming effective during the period |
There are certain new standards, amendments to existing standards and new interpretations on approved accounting standards that became effective during the period and are mandatory for accounting periods of the Company beginning on or after July 01, 2025 but are considered not to be relevant or not to have any material effect on the Company's operations and are, therefore, not disclosed in these condensed interim financial statements.
4.2.2 | Standards, amendments to standards and interpretations becoming effective in future periods |
There are certain new standards, amendments to standards and interpretations that will became effective in future accounting periods but are considered not to be relevant or not to have any material effect on the Company's operations and are, therefore, not disclosed in these condensed interim financial statements.
5 | ACCOUNTING ESTIMATES, JUDGEMENTS AND FINANCIAL RISK MANAGEMENT |
5.1 | The preparation of these condensed interim financial information in conformity with approved accounting standards requires management to make estimates, assumptions and use judgments that affect the application of policies and reported amounts of assets and liabilities and income and expenses. Estimates, assumptions and judgments are continually evaluated and are based on historical experience and other factors, including reasonable expectations of future events, revision to accounting estimates are recognized prospectively commencing from the period of revision. |
5.2 | Judgements and estimates made by management in the preparation of these condensed interim financial informations are the same as those that were applied to the financial statements as at and for the year ended June 30, 2025. |
5.3 | The Company's financial risk management objectives and policies are consistent with those objectives and policies which were disclosed in the financial statements of the Company for the year ended June 30, 2025. | ||
Un-Audited | Audited | ||
Dec. 31, 2025 | Jun 30, 2025 | ||
Rupees | |||
CONTINGENCIES AND COMMITMENTS | |||
6
There has been no significant change in the contingencies and commitments since the last audited financial statements for the year ended June 30, 2025.
7 | PROPERTY, PLANT AND EQUIPMENT |
Operating fixed assets |
Capital work in progress |
11,870,384,303 | 11,975,049,448 | |
- | - | |
11,870,384,303 | 11,975,049,448 |
7.1
7.1 | Operating fixed assets |
Opening written down value | |
Additions during the period / year | |
Disposals during the period - net book value (Plant & Machinery) | |
Disposals during the period - net book value (Vehicles) | |
Depreciation during the period / year | |
Surplus on revaluation during the period / year | |
Closing balance |
11,975,049,448 | 2,920,320,860 | |
11,477,025 | 74,831,900 | |
- | (68,251,827) | |
(14,707) | - | |
(116,127,463) | (131,206,456) | |
- | 9,179,354,971 | |
11,870,384,303 | 11,975,049,448 |
7.2
7.2 | Additions during the period / year |
Plant & Machinery | |
Vehicles | |
Computer Equipment |
1,210,500 | 74,543,900 | |
9,964,920 | - | |
301,605 | 288,000 | |
11,477,025 | 74,831,900 |
8 | CASH AND CASH EQUIVALENTS |
Cash and bank balances |
Un-Audited | Un-Audited | |
Dec. 31, 2025 | Dec. 31, 2024 | |
Rupees | ||
8,447,698 | 5,670,824 | |
8,447,698 | 5,670,824 | |
9 | FINANCE COST |
The Company has not made the provision of markup for the period amounting to Rs. 30.313 million (up to June 30, 2025: Rs.314.490 million) in respect of bank borrowings. The management has approached its lenders for restructuring of its debts and is confident that the Company's restructuring proposals without markup will be accepted by the financial institutions / banks. Had the provision been made the loss for the period would have been higher by Rs. 30.313 million and accrued markup would have been higher and shareholders' equity would have been lower by Rs. 344.803 million. |
Un-Audited | Un-Audited | ||
Dec. 31, 2025 | Dec. 31, 2024 | ||
Rupees | |||
10 | BASIC EARNINGS PER SHARE | ||
Loss after taxation | 136,090,929 | 153,296,260 | |
Weighted average number of ordinary shares | 97,750,726 | 97,750,726 | |
Basic loss per share | (1.39) | (1.57) | |
No figure for diluted earning per share has been presented as the company has not yet issued any instruments which would have an impact on basic earning per share when exercised.
11 | RELATED PARTY TRANSACTIONS |
Provident Fund |
1,186,450 924,554
12 | CORRESPONDING FIGURES |
In order to comply with the requirements of International Accounting Standard 34 "Interim Financial Reporting", statement of financial position has been compared with the balances of annual financial statements, whereas statement of profit or loss, statement of comprehensive income, statement of cash flows and statement of changes in equity have been compared with the balances of comparable period of immediately preceding financial year. |
13 | DATE OF AUTHORISATION FOR ISSUE |
This condensed interim financial information has been authorized for issue on February 26, 2026 by the Board of Directors of the company. |
Syed Maqbool Ali | Muhammad Irfan Ali |
Chief Executive Officer & Director Chief Financial Officer | |
Mehmood-ul-Hassan Asghar |
Chairman Board of Directors |
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