EMCO INDUSTRIES LIMITED
INTERIM FINANCIAL
INFORMATION
(Un-audited)
FIRST QUARTER ENDED
SEPTEMBER 30, 2025
CONTENTS
Company Information 3
Directors' Report 4-7
Condensed Interim Statement of Financial Position 8-9
Condensed Interim Statement of Profit or Loss 10
Condensed Interim Statement of Comprehensive Income 11
Condensed Interim Statement of Changes in Equity 12
Condensed Interim Statement of Cash Flows 13-14
Notes to and Forming Part of the Condensed Interim Financial Statements 15-21
2 |
FIRST QUARTERLY REPORT 2026| 3
Bankers
Habib Bank Limited National Bank of Pakistan The Bank of Punjab
The Bank of Khyber
Al Baraka Bank (Pakistan) Limited Askari Bank Limited
Soneri Bank Limited
BUSINESS ITEMS
Porcelain Insulators
Tension Insulator
Suspension Insulator
Pin Insulator
Line Post Insulator
Cap and pin Insulator
Station Post Insulator
Long Road Insulator
Insulator for Railway Electrification
Telephone Insulator
Low Voltage Insulator
Dropout Cutout Insulator
HT & LT Bushings
Switchgear
Disconnect Switch upto 245 kv
Metal Oxide Surge Arresters upto 245 kv
CTs, CVTs & PT,s upto 245 kv
RTV Coating
Room Temperature Vulcanised Silicone Rubber Coating
Chemical Porcelain
Acid Proof Tiles
Acid Proof Cement
Special Porcelain
High Alumina Porcelain
Lining Special Refractories & Grinding Media
Metal Components
Cross Arms for Distribution Poles
Steel Pins for Pin Insulators/ Cross Arms
D-Shakle Assembly
Share Registrar
Corplink (Pvt) Limited
Wings Arcade. I-K , Commercial, Model Town, Lahore.
Registered Office
4th Floor, National Tower, 28-Egerton Road, Lahore.
Factory
19-Kilometre,
Lahore Sheikhupura Road, Lahore.
External Auditors
M/s. Crowe Hussain Chaudhury & Co., Chartered Accountants, Lahore.
Internal Auditors
M/s. Muhammad Ali Hussain & Co. Chartered Accountants, Lahore.
Legal Advisers
Cornelious Lane & Mufti Chaudhary Associates Law Inn Rizvi & Company
Asad Ullah Khan
Chairman Member Member
Member / Committee Secretary
Chairman Member Member
Member / Committee Secretary
Member Member
Member / Committee Secretary
Mr. Pervaiz Shafiq Siddiqi Mr. Salman Javaid Siddiqi Mr. Ahsan Suhail Mannan
Risk Management Committee
Syed Muhammad Mohsin Mr. Tariq Rehman
Ch. Imran Ali
Mr. Salem Rehman
Nomination Committee
Ch. Imran Ali
Mr. Javaid Shafiq Siddiqi Mr. Usman Haq
Mr. Ahsan Suhail Mannan
"Is the Committee Secretary as required by the Chapter IX, 27 (1) (iv) of Code of Corporate Governance, Regulations 2019."
HR Committee
Mrs. Ayesha Mussadaque Hamid Chairman
Mr. Ahsan Suhail Mannan
Ch. Imran Ali Independent Director Syed Muhammad Mohsin Independent Director Mr. Osman Hameed Chaudhri Independent Director
Chief Financial Officer
Mr. Riaz Ahmad
Company Secretary
Mr. Ahsan Suhail Mannan
Audit Committee
Mr. Osman Hameed Chaudhri Chairman
Syed Muhammad Mohsin Member
Mr. Javaid Shafiq Siddiqi Member
Mr. Umair Noorani Member
Mrs. Ayesha Mussadaque Hamid Independent Director
Non-Executive Director
Mr. Umair Noorani
Chairman / Non-Executive Director Managing Director / Executive Director Chief Executive / Executive Director Executive Director
Company Secretary / Executive Director Non-Executive Director
Non-Executive Director
Board of Directors
Mr. Javaid Shafiq Siddiqi Mr. Usman Haq
Mr. Salem Rehman Mr. Tariq Rehman
Mr. Ahsan Suhail Mannan Mr. Pervaiz Shafiq Siddiqi Mr. Salman Javaid Siddiqi
COMPANY INFORMATIONDIRECTORS' REPORT Dear Shareholders
On behalf of the Board of Directors we are pleased to present the performance review of your Company together with the un-audited financial statements for the 1st Quarter ended September 30, 2025.
Operations and Sales ReviewThe Company produced 780.46 tons of porcelain insulators during the review period, a substantial 29.4% increase compared to 603.33 tons in the same quarter of 2024. The increase in production is on account of anticipation of rising demand in the domestic sector as well as the export market, and will allow the Company to be strategically positioned for at the start of the new fiscal year.
Similarly, Sales surged to 937.15 tons, up 14.1% from 821.64 tons in the previous year's corresponding period. The domestic market showed signs of recovery following a period of stagnation, largely due to the Government's reprofiling of the power sector. This reprofiling involved: Reprioritization of projects, leading to delays in maintenance and new installations and Budgetary constraints, which temporarily slowed procurement and infrastructure upgrades. The recent uptick in demand implies that Budget allocations are now being released and Power sector entities are resuming maintenance and initiating new projects.
The Company's ability to ramp up production and meet increased sales demand positions it favorably for future growth.
Continued monitoring of government policy and sectoral investment will be crucial for forecasting demand and aligning production targets.
Strengthening supply chain resilience and maintaining inventory flexibility will help sustain momentum amid fluctuating market conditions.
During the lean operational period, the Company strategically shifted focus toward expanding its footprint in international markets, specifically for its core aproduct-porcelain insulators. This effort yielded impressive results: within just three months, the Company achieved 56.3% of the previous full-year export value, signaling strong traction and acceptance in new geographies. The accelerated export performance not only diversified revenue streams but also reduced reliance on domestic demand cycles, enhancing long-term resilience.
The introductory pricing strategy-designed to gain market entry and build relationships-combined with the early-stage nature of these initiatives, exerted downward pressure on profitability during the review period. However, the Company views this phase as a strategic investment, laying the groundwork for future margin improvement. Active measures are underway to optimize cost structures, refine pricing models, and enhance operational efficiencies across both export and domestic segments. Management remains confident that these initiatives will contribute positively to profitability within the current fiscal year, aligning with broader growth and diversification goals.
The Company reported net sales of Rs. 1,156.36 million for the period July-September 2025, reflecting a strong year-over-year growth of 53% compared to Rs. 755.60 million in the same quarter of 2024.
Financial PerformanceGross Profit rose to Rs. 182.84 million, a 162.7% increase from Rs. 69.59 million in the same period last year. Gross Margins improved significantly, driven by Strong sales of porcelain insulators and dispatch of new products introduced at introductory and penetration pricing, which helped boost volumes. Net Operating Profit reached Rs. 101.71 million, a sharp turnaround from a Net Operating Loss of Rs. (1.29) million last year. This reflects improved operational efficiency and successful market expansion.
4 |
Administrative and Selling & Distribution (S&D) Expenses increased to Rs. 81.13 million from Rs. 70.88 million, reflecting higher marketing and logistics costs associated with expansion into export markets. Finance Cost decreased to Rs. 65.36 million, down 36.6% from Rs. 103.13 million last year. This reduction indicates better debt management and lower borrowing rates.
Profit Before Tax (PBT) stood at Rs. 21.60 million, compared to a Loss Before Tax of Rs. (99.32) million in the prior year. Net Profit after tax was Rs. 15.33 million, a strong recovery from a Net Loss of Rs. (68.54) million in SPLY.
The Company fulfilled all scheduled payments on Long-Term Loans during the review period. There are no overdue liabilities, reflecting sound financial discipline and creditworthiness.
Earnings per ShareThe basic earnings per share is reported at Rs. 0.44 as compared to basic earnings/(loss) per share of Rs. (1.96) of the comparable period of last year. There is no dilution effect on the earnings per share for the period under review and corresponding period of last year.
Near Term OutlookDespite the prevailing challenges in the macroeconomic environment-marked by stagnant growth and a significant national debt burden-the Company remains optimistic. The Government's ongoing efforts to enforce fiscal discipline and promote export-led growth are encouraging developments, and EMCO is fully aligned with these national objectives. The current administration has placed energy sector reforms at the forefront of its economic agenda. These reforms aim to eliminate structural inefficiencies, encourage private sector participation and to promote indigenization of energy-related products and services.
EMCO's management views this as a strategic inflection point-a chance to deepen its engagement in the energy sector by offering locally manufactured, high-quality solutions. With its proven capabilities in porcelain insulators and metal hardware, EMCO is well positioned to support the sector's modernization and localization goals.
To counter sluggish domestic demand, the Company has intensified its focus on international market expansion, building on recent traction in North America and Latin America. These regions have demonstrated strong receptivity to EMCO's products, and the Company is actively pursuing further penetration through strategic partnerships, competitive pricing, and enhanced service delivery.
With continued commitment and operational agility, EMCO is confident of achieving further growth in its export base during the current fiscal year, Insh'Allah.
AcknowledgmentsThe Directors wish to acknowledge the devotion of the employees of all cadres and are appreciative of their dedication and commitment. They also extend heartfelt appreciation to the Company's suppliers, customers and bankers for their continued confidence and support.
On behalf of board
Salem Rehman Ahsan Suhail MannanChief Executive Officer Director / Company Secretary October 29, 2025
Lahore
FIRST QUARTERLY REPORT 2026| 5
6 |
FIRST QUARTERLY REPORT 2026| 7
EQUITY AND LIABILITIES | ||||
Share Capital and Reserves | ||||
Authorized share capital: | ||||
120,000,000 (June 30, 2025: 120,000,000) | ||||
1,200,000,000 | ||||
Ordinary shares of Rs. 10 each | 1,200,000,000 | |||
Issued, subscribed and paid up capital | ||||
35,000,000 (June 30, 2025: 35,000,000) | ||||
350,000,000 | ||||
Ordinary shares of Rs. 10 each | 350,000,000 | |||
Reserves | 1,123,230,478 | 1,101,473,324 | ||
Sponsors' loan | 115,708,828 | 115,708,828 | ||
Surplus on Revaluation of Property, | ||||
Plant and Equipment | 4 | 1,737,737,991 | 1,744,162,885 | |
Non Current Liabilities | 3,326,677,297 | 3,311,345,037 | ||
Long term financing | 5 | 417,251,262 | 464,340,306 | |
Post employment benefits | 200,167,371 | 189,175,068 | ||
Deferred tax liability | 249,088,075 | 252,935,381 | ||
Long term security deposit | 4,567,584 | 4,567,584 | ||
Current Liabilities | 871,074,293 | 911,018,339 | ||
Trade and other payables | 486,196,966 | 442,914,232 | ||
Unclaimed dividends | 768,578 | 768,578 | ||
Accrued finance cost | 59,335,097 | 55,041,582 | ||
Short term borrowings | 6 | 1,296,309,718 | 1,196,499,836 | |
Current portion of non-current liabilities | 192,036,043 | 176,088,051 | ||
Contingencies and Commitments | 7 | 2,034,646,402 - | 1,871,312,279 - | |
Total Equity and Liabilities | 6,232,397,992 | 6,093,675,655 | ||
Note
September 30, 2025 (Un-audited) RupeesJune 30,
2025
(Audited) Rupees
The annexed notes 1 to 12 form an integral part of these financial statements.
Lahore
October 29, 2025
8 |
(Salem Rehman) Chief Executive Officer
ASSETS | 3,192,525,667 113,385,532 3,467,504 57,562,935 877,482 5,096,916 3,372,916,036 91,903,355 1,656,546,020 562,234,255 150,786,010 215,298,095 43,991,884 2,720,759,619 | |||
Non Current Assets | ||||
Property, plant and equipment | 8 | 3,172,139,845 | ||
Investment properties | 113,385,532 | |||
Intangible assets | 3,467,505 | |||
Long term prepayments | 54,285,907 | |||
Long term loans | 1,012,675 | |||
Long term deposits | 5,096,916 | |||
Current Assets | 3,349,388,380 | |||
Stores, spares and loose tools | 74,422,265 | |||
Stock-in-trade | 1,644,152,013 | |||
Trade receivables | 750,853,138 | |||
Advances, deposits, prepayments and other receivables | 91,798,970 | |||
Income tax refundable from government | 260,707,777 | |||
Cash and bank balances | 61,075,449 | |||
2,883,009,612 | ||||
Total Assets | 6,232,397,992 | 6,093,675,655 |
AS AT SEPTEMBER 30, 2025
September 30, 2025 Note (Un-audited) RupeesJune 30,
2025
(Audited) Rupees
(Ahsan Suhail Mannan) Director
(Riaz Ahmad) Chief Financial Officer
FIRST QUARTERLY REPORT 2026| 9
Gross Revenue: | ||||
- Local | 1,056,643,319 | 766,683,212 | ||
- Export | 260,769,866 | 101,703,259 | ||
1,317,413,185 | 868,386,471 | |||
Less: Sales tax | (161,044,608) | |||
(112,783,230) | ||||
Net sales | 1,156,368,577 | 755,603,241 | ||
Cost of revenue | 9 | (973,523,992) | (686,012,118) | |
Gross Profit | 182,844,585 | 69,591,124 | ||
Administrative expenses | (41,029,633) | (42,959,488) | ||
Selling and distribution expenses | (40,103,194) | (27,922,389) (70,881,877) | ||
(81,132,827) | ||||
Operating Profit / (Loss) | 101,711,758 | (1,290,753) | ||
Other Expenses | (18,887,147) | (622,308) | ||
Finance cost | (65,361,976) | (103,134,813) | ||
Other income | 4,138,186 | 5,722,922 | ||
Profit/(Loss) before Taxation | 21,600,822 | (99,324,952) | ||
Taxation | (6,268,561) | 30,776,816 | ||
Net Profit / (Loss) for the Period | 15,332,261 | (68,548,136) | ||
Earnings / (Loss) per Share - Basic and Diluted | 0.44 | (1.96) | ||
The annexed notes 1 to 12 form an integral part of these financial statements.
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (Un-audited)FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025
Quarter Ended September 30, Note 2025 2024 Rupees RupeesLahore
(Salem Rehman) (Ahsan Suhail Mannan)
October 29, 2025 Chief Executive Officer
10 |
Director
(Riaz Ahmad) Chief Financial Officer
Net Profit / (Loss) for the Period Other comprehensive income Items that may be reclassified to the profit or loss Total Comprehensive Profit / (Loss) for the Period | 15,332,261 - | (68,548,136) - | |
15,332,261 | (68,548,136) |
FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025
Quarter Ended September 30, 2025 2024 Rupees RupeesThe annexed notes 1 to 12 form an integral part of these financial statements.
Lahore
(Salem Rehman) (Ahsan Suhail Mannan)
October 29, 2025 Chief Executive Officer Director
(Riaz Ahmad) Chief Financial Officer
FIRST QUARTERLY REPORT 2026| 11
Subscribed and Paid up Capital Rupees | Share General Unappropriated Premium Reserve Profit Rupees Rupees Rupees | Total Reserve Rupees | Sponsors' Loan Rupees | plant and quipment Rupees | Total Rupees | |
Balance as at | ||||||
June 30, 2024 350,000,000 | 39,898,526 | 90,000,000 | 892,411,814 | 1,022,310,340 115,708,828 1,458,112,397 2,946,131,565 | ||
Total comprehensive | ||||||
income for the | ||||||
period ended | ||||||
September 30, 2024 - | - | - | (68,548,136) | (68,548,136) - - (68,548,136) | ||
FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025
Reserves
Issued,
Capital
Revenue
Surplus on revaluation of property,
Incremental depreciation for the period on surplus on Revaluation of property plant and equipment - net of deferred tax
-
-
- 6,233,465 6,233,465
- (6,233,465)
-
Balance as at
September 30, 2024 350,000,000
Balance as at
39,898,526
90,000,000 830,097,143 959,995,669 115,708,828 1,451,878,932 2,877,583,429
June 30, 2025
Total comprehensive income for the period ended September 30, 2025
Incremental depreciation for the period on surplus on Revaluation of property plant and equipment - net of deferred tax
350,000,000
39,898,526 90,000,000 971,574,798 1,101,473,324 115,708,828 1,744,162,885 3,311,345,037
-
-
-
15,332,261
15,332,261
-
- 15,332,261
-
-
-
6,424,894
6,424,894
- (6,424,894)
-
Balance as at
September 30, 2025 350,000,000 39,898,526 90,000,000 993,331,953 1,123,230,478 115,708,828 1,737,737,991 3,326,677,297
The annexed notes 1 to 12 form an integral part of these financial statements.
Lahore
(Salem Rehman) (Ahsan Suhail Mannan)
October 29, 2025 Chief Executive Officer
12 |
Director
(Riaz Ahmad) Chief Financial Officer
CASH FLOW FROM OPERATING ACTIVITIES | 2025 Rupees | 2024 Rupees | |
Profit / (loss) before taxation | 21,600,822 | (99,324,952) | |
- Depreciation on property, plant and equipment - owned | 45,202,354 | 45,770,408 | |
- Depreciation on right of use assets | 809,106 | 809,106 | |
- Amortization | - | 149,157 | |
- Provision for gratuity | 10,992,298 | 11,815,329 | |
- Workers' (Profit) Participation Fund | 1,160,888 | - | |
- Workers' Welfare Fund | 441,138 | - | |
- Rental income | (3,159,270) | (2,963,262) | |
- Exchange loss / (gain) | (190,487) | 128,976 | |
- Unwinding of Liabilities | 130,932 | 1,902,409 | |
- Finance cost | 65,231,042 | 101,232,404 | |
120,618,001 | 158,844,527 | ||
Operating profit before working capital changes | 142,218,823 | 59,519,575 |
FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025
Quarter Ended September 30,
(Increase) / decrease in current assets:
Stores, spares and loose tools
Stock in trade
Trade receivables
Advances, deposits, prepayments and other receivables (Decrease) / increase in current liabilities:
Trade and other payables
Cash (used in)/generated from operations
Finance cost paid Grauity paid
Workers' (Profit) Participation Fund paid Income tax (paid) / refunded - net
(57,780,357)
84,438,466
56,903,363
116,422,938
(116,568,266) (139,506,292)
Net Cash (Used in)/generated from Operating Activities (32,129,800) (23,083,354)
FIRST QUARTERLY REPORT 2026| 13
(96,778,547)
(2,494,076)
-(40,233,669)
(60,937,527)
-(105,190)
(55,525,549)
(895,191)
(251,337,588)
468,875,507
(42,217,171)
(117,522,195)
17,481,090
12,394,007
(188,428,394)
58,987,040
41,785,899
CASH FLOW FROM INVESTING ACTIVITIES Property, plant and equipment purchased Long term loans and other receivables Rental income Net Cash used in Investing Activities CASH FLOW FROM FINANCING ACTIVITIES Long term financing from related parties repaid - net Long term financing from banking companies acquired - net Short term borrowing from related parties repaid - net Short term borrowing from banking companies acquired - net Net Cash generated from / (used in) 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 | (14,958,547) 4,258,336 2,963,262 (7,736,949) (8,050,000) (34,489,939) 59,691,186 99,979,765 117,131,012 | ||
(25,625,638) 3,141,835 3,159,270 | |||
(19,324,533) | |||
(52,500) (31,219,482) 19,000,000 80,809,880 | |||
68,537,898 | |||
17,083,565 43,991,884 | 86,310,709 10,079,933 | ||
61,075,449 | 96,390,642 |
FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025
Quarter Ended September 30, 2025 2024 Rupees RupeesThe annexed notes 1 to 12 form an integral part of these financial statements.
Lahore
(Salem Rehman) (Ahsan Suhail Mannan)
October 29, 2025 Chief Executive Officer
14 |
Director
(Riaz Ahmad) Chief Financial Officer
NOTES TO AND FORMING PART OF CONDENSED INTERIM FINANCIAL STATEMENTS (Un-audited)
FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025
-
The Company and its Operations
EMCO Industries Limited ("the Company") was incorporated as a Joint Stock Company in Pakistan under the repealed Companies Act, 1913, (now the Companies Act, 2017) on August 17, 1954 by the name of Electric Equipment Manufacturing Company (Private) Limited. Later, it was converted into a public company on August 20, 1983 and its name was changed to EMCO Industries Limited on September 12, 1983. The Company was listed on the stock exchange on December 29, 1983. The Company is domiciled in Pakistan. and its registered office is located at 4th Floor, National Tower, 28 Egerton Road, Lahore while its factory is located at 19-KM, Lahore Sheikhupura Road, Lahore.
The Company is principally engaged in the manufacture and sale of high / low tension electrical porcelain insulators and switchgears.
-
Basis of Preparation
These condensed interim financial statements 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 (IFRS), Interim Financial Reporting, issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 2017; and
Islamic Financial Accounting Standards (IFAS) issued by the Institute of Chartered Accountants of Pakistan as are 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 IFAS, the provisions of and directives issued under the Companies Act, 2017 have been followed.
This condensed interim financial statements should be read in conjunction with annual audited financial statements for the year ended June 30, 2025. Comparative statement of financial position is extracted from annual audited financial statements for the year ended June 30, 2025 whereas comparative statement of profit or loss , comparative statement of comprehensive income, comparative statement of changes in equity and comparative statement of cash flows are extracted from unaudited interim financial information for the Period ended September 30, 2024.
The preparation of these condensed interim financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expense. Actual results may differ from these estimates. In preparing this condensed interim financial statements, the significant judgments made by the management in applying accounting policies and key sources of estimation were the same as those that were applied to the financial statements for the year ended June 30, 2025.
FIRST QUARTERLY REPORT 2026| 15
Land - Freehold | 1,176,166,559 | 1,176,166,559 |
Buildings on freehold land | 297,972,495 | 311,698,841 |
Plant and machinery | 270,023,831 | 281,230,159 |
1,744,162,885 | 1,769,095,559 | |
Effect of change in effective tax rates | ||
Incremental depreciation charged on revalued | ||
property, plant and equipment in current year net | ||
of deferred tax (transferred to retained earnings) | (6,424,894) | (24,932,674) |
1,737,737,991 | 1,744,162,885 |
Banking companies - secured | ||
117,454,409 | ||
The Bank of Punjab | 107,666,542 | |
Habib Bank Limited | 187,483,221 | 199,982,102 |
Askari Bank Limited | 129,108,187 | 137,715,400 |
Saudi Pak Industrial and Agricultural | ||
Investment Company Limited | 32,086,962 | 35,652,179 |
First Habib Modaraba - Diminishing Musharakah | 65,235,208 | 61,158,316 |
National Bank Of Pakistan | 77,731,248 | 77,731,248 |
599,311,367 | 629,693,654 | |
Associated companies / related parties - unsecured | ||
EMCO Industries Limited Provident Fund | 7,898,617 | 7,951,117 |
Discounting / unwinding of discount | (1,022,354) | (1,153,286) |
EMCO Industries Limited Provident Fund | 6,876,263 | 6,797,831 |
606,187,630 | 636,491,485 | |
Less: current portion - Banking companies | (188,936,368) | (172,151,179) |
417,251,262 | 464,340,306 |
-
Significant Accounting Policies
The Company's accounting and financial risk management policies and methods of computation adopted in the preparation of these condensed interim (un-audited) financial statements are the same as those applied in the preparation of preceding annual financial statements of the company for the year ended June 30, 2025.
September 30, June 30, 2025 2025 - Surplus on Revaluation of Property, (Un-audited) (Audited)
June 30,
2025
(Audited) Rupees
16 |
Interest bearing | 1,080,455,691 6,700,000 69,997,999 1,157,153,690 36,730,454 2,615,692 | |||
Banking companies - secured | ||||
- Running Finance , local bills discounting and | ||||
export and import finances | 1,161,265,574 | |||
Related parties - unsecured: | ||||
Associated companies: | ||||
- ICC (Private) Limited | 6,700,000 | |||
Directors and close relatives thereof | 6.1 | 69,997,999 | ||
Interest free | 1,237,963,572 | |||
Related parties - unsecured: | ||||
Directors and close relatives thereof | 55,730,454 | |||
Associated company | ||||
- The Imperial Electric Company (Private) Limited | 2,615,692 | |||
1,296,309,718 | 1,196,499,836 |
Commitments | ||
197.420 | ||
Letters of credit other than for capital expenditure | 166.928 | |
Letters of credit for capital expenditure | - | - |
Guarantees | ||
NTDC/DISCOs /Local Customers | 730.298 | 684.343 |
Sui Northern Gas Pipelines Limited | 50.406 | 50.406 |
780.704 | 734.749 |
June 30,
2025
(Audited) Rupees
6.1 This represents loan obtained to meet the working capital requirements of the Company. The Company has also utilised personal finance lines of the directors as disclosed in note 10.1 to the financial statements. 7. Contingencies and Commitments ContingenciesThere is no material change in the status of contingencies as reported in financial statements of the Company for the year ended June 30, 2025.
September 30, June 30,
2025 2025
(Un-audited) (Audited)
Rs. in millions Rs. in millions
FIRST QUARTERLY REPORT 2026| 17
Not later than one year | 28,666,844 | 19,739,856 |
Later than one year and not later than five years | 74,014,842 | 41,418,460 |
102,681,686 | 61,158,316 |
Operating fixed assets | 8.1 | 3,169,676,040 | 3,189,252,756 | |
Right of Use assets | 2,463,805 | 3,272,911 | ||
8.1 Operating fixed assets | 3,172,139,845 | 3,192,525,667 | ||
Opening written down value | 3,189,252,756 | 2,889,396,635 | ||
Additions during the period / year | 25,625,638 | 156,434,322 | ||
Transfer to investment properties | - | (869,616) | ||
Revaluation adjustment | - | 331,576,019 | ||
3,214,878,394 | 3,376,537,360 | |||
Depreciation charge for the period / year | (45,202,354) | (187,284,604) | ||
3,169,676,040 | 3,189,252,756 | |||
- Commitments for future minimum payments in respect of Ijarah and Diminishing Musharkah arrangements are as follows:
September 30, June 30, 2025 2025 (Un-audited) (Audited) Rupees RupeesNote
8. Property, Plant and Equipment September 30, 2025 (Un-audited) RupeesJune 30,
2025
(Audited) Rupees
18 |
Raw and packing material consumed | 561,389,139 | 291,158,273 | |
Stores and spares consumed | 24,610,495 | 21,389,251 | |
Salaries, wages and benefits | 167,749,890 | 148,514,929 | |
Power and gas | 113,840,243 | 103,368,984 | |
Vehicle maintenance | 457,581 | 59,357 | |
Repairs and maintenance | 1,715,307 | 3,370,283 | |
Entertainment | 709,709 | 592,135 | |
Insurance | 1,794,774 | 1,694,436 | |
Communication and stationery | 759,588 | 770,206 | |
Rent, rates and taxes | 1,060,553 | 326,864 | |
Travelling and conveyance | 36,773,403 | 36,682,627 | |
Testing and experiment charges | 11,313,971 | 13,367,552 | |
Miscellaneous | 390,870 | 1,043,255 | |
Depreciation on property, plant and equipment | 42,865,694 | 42,423,777 | |
965,431,217 | 664,761,929 |
Work in process:
Opening work in process
Closing work in process
Cost of goods manufactured
Finished goods:
Opening finished goods
Closing finished goods
(8,554,454)
656,207,475
29,804,643
686,012,118
10. Transactions with Related PartiesRelated parties comprise associated companies, related group companies, retirement benefits fund, directors and key management personnel. Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Company, directly or indirectly, including any director (whether executive or otherwise) of that Company. The Company in the normal course of business carries out transactions with various related parties. Details of significant transactions with related parties during the year, other than those which have been disclosed elsewhere in these financial statements, are as follows:
FIRST QUARTERLY REPORT 2026| 19
28,524,541
973,523,992
(20,431,766)
944,999,451
556,305,506
(526,500,863)
727,727,327
(699,202,786)
98,258,475
(106,812,929)
126,335,864
(146,767,630)
-
-225,295
-
276,633
20 |
5,000,000
5,000,000
1,059,432
2,500,000
367,267
EBR Energy Pakistan (Private) Limited
89,000,000
89,000,000
37,825
37,825
-
-
-
-
Directors and close relatives
Associated persons
19,000,000
-2,219,099
2,374,663
170,359,109
110,667,923
11,675,407
4,130,469
Executives / Key management personal
-
2,094,290
30,000
-
Associated company
ICC ( Pvt ) Limited
15,000,000
15,000,000
1,073,691
332,356
351,652
251,971
3,991,906
-
-1,073,691
236,496
912,602
270,640
2,868,378
Short term borrowing obtained
Short term borrowing repaid
Payment of Lease Liability Interest on Lease Liability Markup Paid on Short Term Borrowing
Other Expense Payment Made for other expense
Short Term Borrowing Received
Short Term Borrowing Repaid
Markup on short term borrowing
Markup paid on short term borrowing Payment made on behalf of the Company
Short Term Borrowing Received
Short Term Borrowing Repaid
Markup on Short Term Borrowing
Markup paid on Short Term Borrowing
Short term borrowing obtained (Note 10.1) Short term borrowing repaid (Note 10.1) Markup on short term borrowing
Markup paid on short term borrowing
Long Term Loan Recovered Amount Received against Car lease
8,050,000
52,500
(Un-audited) (Un-audited) Rupees Rupees Nature of transactionPrincipal amount repaid
RelationshipAssociated undertaking
Associated company
Related partyEMCO Industries Limited Provident Fund
The Imperial Electric Company (Private) Limited
Quarter Ended September 30, 2025 2024 Transactions during the Periodduring the period. | |||
September 30, | June 30, | ||
2025 | 2025 | ||
(Un-audited) | (Audited) | ||
Outstanding Balance as at | the Period end | Rupees | Rupees |
Associated Engineers | Sponsor Loan - interest Free | 27,335,447 | 27,335,447 |
(Private) Limited | Markup on long term financing | 6,391,541 | 6,391,541 |
EMCO Industries Limited | Long term financing | 7,898,617 | 7,951,117 |
Provident Fund | |||
Imperial Electric Company (Private) Limited | Short term financing - interest Free Markup payable on long and short term financing | 2,615,692 2,338,396 | 2,615,692 3,250,998 |
Payable against Rent | 3,099,675 | 3,936,872 | |
Payable Against Expense | 1,882,061 | 4,479,799 | |
ICC ( Pvt ) Limited | Short term borrowing - interest bearing | 6,700,000 | 6,700,000 |
Markup on short term borrowing | 708,912 | 483,617 | |
Directors and clos | Sponsors' loans | 115,708,828 | 115,708,828 |
relatives thereof | Short term borrowing | 125,728,453 | 106,728,453 |
Markup on short term borrowing | 2,219,425 | 2,374,989 | |
Other Payable | 3,848,000 | 3,848,000 | |
Executive / Key | Other Payable against car leased | 11,098,008 | 9,003,718 |
Management personnel | |||
-
Date of Authorization
This condensed interim financial statement (un-audited) is authorized for issuance on October 29, 2025 by the Board of Directors of the Company.
- General
Corresponding figures are rearranged / reclassified for better presentation and comparison. No material re-arrangements / reclassifications have been made in these (un-audited) financial statements:
Lahore
(Salem Rehman) (Ahsan Suhail Mannan)
October 29, 2025 Chief Executive Officer Director
(Riaz Ahmad) Chief Financial Officer
FIRST QUARTERLY REPORT 2026| 21
BOOK POST
EMCO INDUSTRIES LIMITED
Head Office:
4th Floor, National Tower, 28-Egerton Road, Lahore Pakistan.
Tel: (+92) (42) 3630 6545 - 6, Fax: (+92) (42) 3636 8119
Email:info@emco.com.pk
Factory:
19-Kilometers, Lahore Sheikhupura Road, Lahore.
https://WWW.EMCO.COM.PX