Green EChangnes Thee Worrldgy 2rD 025
3 QUARTERLY REPORT
Contents
COrPOrATE PrOFILE
03
CHAIrmAn'S REVIEw
04
UNCONSOLIDATED
FINANCIAL
STATEMENTS
COnDEnSED InTErIm STATEmEnT OF FInAnCIAL POSITIOn
09
COnDEnSED InTErIm PrOFIT Or LOSS ACCOUnT (UnAUDITED)
10
COnDEnSED InTErIm CASH FLOw STATEmEnT (UnAUDITED)
11
COnDEnSED InTErIm STATEmEnT OF CHAnGES In EqUITY
(UnAUDITED)
12
NOTES TO THE COnDEnSED InTErIm FInAnCIAL InFOrmATIOn
(UnAUDITED)
13
CONSOLIDATED
FINANCIAL
STATEMENTS
COnDEnSED InTErIm STATEmEnT OF FInAnCIAL POSITIOn
16
COnDEnSED InTErIm PrOFIT Or LOSS ACCOUnT (UnAUDITED)
17
COnDEnSED InTErIm CASH FLOw STATEmEnT (UnAUDITED)
18
COnDEnSED InTErIm STATEmEnT OF CHAnGES In EqUITY
(UnAUDITED)
19
R t
NOTES TO THE COnDEnSED InTErIm FInAnCIAL InFOrmATIOn
(UnAUDITED)
20
Corporate Profile
BOArD OF DIrECTOrS
Arif Hashwani - Chairman Arshad Shehzada - MD/CEO Altaf Hashwani
Hussain Hashwani Zaver Hashwani Amin Manji
Mrs. Navin Salim Merchant
S. Haider Mehdi
CHIEF FInAnCIAL OFFICEr
S. Haider Mehdi
AUDIT COmmITTEE
Amin Manji - Chairman Altaf Hashwani
Zaver Hashwani
Salim Abdul Ali - Secretary
HUmAn RESOUrCE AnD REmUnErATIOn COmmITTEE
Amin Manji - Chairman Arif Hashwani - Member Altaf Hashwani - Member
3 Exide Pakistan Limited 3
Muhammad Shayan - Secretary
BAnKErS
BankIslami Pakistan Ltd. Bank Alfalah Limited Allied Bank Ltd.
Habib Bank Ltd.
Habib Metropolitan Bank Limited JS Bank Ltd.
MCB Bank Ltd. Meezan Bank Limited
Standard Chartered Bank (Pakistan) Ltd. United Bank Ltd.
Dubai Islamic Bank Pakistan Limited National Bank of Pakistan
Faysal Bank Limited
Al Baraka Bank (Pakistan) Limited. Bank of Punjab
AUDITOrS
Yousuf Adil
SOLICITOrS
Orr, Dignam & Co.
REGISTErED OFFICE
A-44, Hill Street, Off.
Manghopir Road, S.I.T.E., Karachi-Pakistan.
Website: https://www.exide.com.pk
E-mail: exidepk@exide.com.pk
CHAIrmAn'S REVIEw
It is my privilege, on behalf of the Board of Directors, to present the unaudited financial results of the Company for the third quarter ended December 31, 2025, along with my comments on the Company's performance.
THE ECOnOmY
Pakistan's macroeconomic conditions strengthened during fiscal year 2025 and remained broadly stable at the start of fiscal year 2026. Pakistan's vulnerability in external transactions has diminished. Foreign exchange reserves are sufficient to cover over two months of imports, GDP growth has shown slight improvement, and inflation has declined significantly. GDP growth is expected to be 3.2 percent in fiscal year 2025-26.
Pakistan's trade deficit expanded by 34.3 percent to US$19.2 billion in the first half of FY26, up from US$14.3 billion in the same period last year, reflecting sustained pressure on the external account amid weak export performance. Exports fell to US$15.2 billion, down 8.7 percent on a year-on-year basis. Imports increased to US$34.4 billion, a rise of 11.3 percent compared to the previous year.
Home remittances maintained healthy growth, rising to US$19.73 billion in the first half of the current fiscal year compared to US$17.85 billion in the same period last year, reflecting an increase of 10.6 percent. Foreign direct investment declined by 43 percent to US$808 million during July-December FY26 compared to US$1.425 billion in the corresponding period of the previous year. Policy instability remains a key deterrent, as frequent reversals, tariff renegotiations, and retrospective actions have eroded investor confidence, prompting downsizing, exits, and arbitration risk.
The current account deficit amounted to US$1.174 billion compared to a surplus of US$957 million during the same period last year. Foreign exchange reserves increased to US$21.25 billion as of January 9, 2026, comprising US$16.07 billion with the State Bank of Pakistan and US$5.18 billion with commercial banks.
THE InDUSTrY
Pakistan's auto sector started FY26 on a strong note, recording a 40 percent increase in sales of cars, SUVs, pickups, and vans to 65,310 units in the first half compared to 46,502 units in the same period last year. This growth was supported by a stable macroeconomic environment, the introduction of new variants, lower interest rates, easing inflation, and improving consumer sentiment.
Motorcycle and three-wheeler sales increased to 921,560 units, up 32 percent. Tractor sales declined to 12,929 units from 17,397 units in the same period last year due to floods and weak farm economics. Truck and bus sales surged to 3,532 units compared to 1,798 units last year.
PrODUCTIOn
Production activities were strategically planned to align with market demand, focusing on both quality and quantity. Emphasis on quality control at all stages of the production process was implemented to further enhance the quality standards of Exide products.
SALES
Net sales revenue for the third quarter under review decreased by
27.8 percent from PKR 4.85 billion to PKR 3.50 billion due to reduced sales volumes and prices. Cumulative sales for the nine months declined by 21.8 percent from PKR 18.665 billion to PKR
14.597 billion compared to the corresponding period last year.
PrOFITABILITY
Gross profit for the quarter under review decreased from PKR 0.862 billion to PKR 0.584 billion due to lower sales volumes and reduced margins. Selling and distribution expenses decreased by 39.6 percent from PKR 530.77 million to PKR 320.52 million, compared to a 27.8 percent decrease in sales revenue. Administration and general expenses increased by 16.53 percent from PKR 64.62 million to PKR
75.30 million.
Operating profit of PKR 0.188 billion was recorded compared to PKR
0.266 billion last year. Financial charges increased to PKR 193.62 million from PKR 172.54 million due to increased borrowings. Profit before tax declined from PKR 87.40 million to a loss of PKR 7.40 million. Profit after tax for the quarter decreased from PKR 54.048 million to a loss of PKR 48.458 million. Earnings per share declined from PKR 6.96 to a loss of PKR 6.24.
Profit after tax for the nine-month period declined from PKR 559.756 million to PKR 229.112 million. Earnings per share for the nine months stood at PKR 29.49, down from PKR 72.05 last year.
FUTUrE PrOSPECTS
The domestic battery industry is expected to face increased competition due to overcapacity and reduced consumer purchasing power. These factors may impact future profitability. However, management remains committed to improving product quality, enhancing productivity, controlling costs, and strengthening after-sales service to improve competitiveness and expand market share.
ACKnOwLEDGEmEnT
On behalf of the Board of Directors, I extend my sincere gratitude to all stakeholders, including employees, bankers, shareholders, Furukawa Battery Japan, vendors, dealers, retailers, customers, automobile manufacturers, and government organizations, for their continued support, guidance, and trust.
Karachi: January 29, 2026
ARIF HASHwAnI
Chairman
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3rd Quarterly Report 2025 6
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ﻮ�ٮ ï»¢ï® ï®¯ïº³ ﮯ�y� برا 4.85 ﮧ�ٮ رyا ﯽﺋﻮ�ٮ ﻊڡ� اy ï¯½ï»¤ï® ïºªïº¼Ù®ï¿½ ڡ� 27.8 ﮟٮ� ﻣ نﺪﻣآ ﯽٮ� ﺣ� و�ڡ� ﺺﻟﺎﺣ� نا�yد ﮯ� ﯽ�ٮﺎﻣ ﮧﺳ ی�ﺴٮ� �ٮ Ûﺰﺋﺎﺣ. ﺮÙ�� ﮧٮ� ﺷﺰﮔ ﺖﺣ� و�ڡ� ﯽﻋﻮﻤﺤ. ﻣ ﯽ� Ûﺎﻣ ﻮٮ� ۔ﯽï®ï¿½Ù® ï¯½ï»¤ï® ï®ŸÙ®ï¿½ ﻣ ں�ٮ� ﻤٮ� ڡ� رyا ﻢﺤ. ﺣ ﮯ� ﺖﺣ� و�ڡ� ﮧﺣ. Ùˆ ﯽ� ﺲﺣ. ،ﯽﺌﮔ Ûر ﮯ�y� برا 3.50 ïº®ï® Û”ï¯½ï¿½Ù®Ø± ﮯ�y� برا 14.597 ﮯﺳ ﮯ�y� برا 18.665 ïº®ï® ï»®ï¿½Ù® ï»¢ï® ïºªïº¼Ù®ï¿½ ڡ� 21.8 ﮟٮ� ﻣ ï®¯ï» Ù®. ﺎڡ� ﻣ ﮯ� ﮯﺻﺮﻋ ﯽﺳا ﮯ� لﺎﺳ
ﺖﺣ� و�ڡ� ﮧﺣ. Ùˆ ﯽ� ﺲﺣ. ،ﺎٮ� ï®” Ûر ﮯ�y� برا 0.584 ïº®ï® ï»®ï¿½Ù® ï»¢ï® ï®¯ïº³ ﮯ�y� برا 0.862 ﻊڡ� ﺎٮ� ﻣ ﯽﻋﻮﻤﺤ. ﻣ نا�yد ﮯ� ﯽ�ٮﺎﻣ ﮧﺳ Ûﺰﺋﺎﺣ. ﺮÙ�� ﮯ�y� ﻦٮ� ï» ï»£ 530.77 ﮧ�ٮ رyا ﯽﺋﻮ�ٮ ﻊڡ� اy ï¯½ï»¤ï® ïºªïº¼Ù®ï¿½ ڡ� 39.6 ﮟٮ� ﻣ تﺎﺣ. ا�ﺣ� ا ﮯ� ﻢٮ� ﺴڡ� �ٮ رyا ﺖﺣ� و�ڡ� ۔ﮯï®ï¿½Ù® ﺰٮ� ﺣ. رﺎﻣ ï»¢ï® Ø±yا ﻢﺤ. ﺣ ï»¢ï® ï®¯ï¿½
ﯽﻣﻮﻤﻋ رyا ﯽﻣﺎﻄ� ٮ� ٮ� ا ۔ﯽﺋآ ï¯½ï»¤ï® ïºªïº¼Ù®ï¿½ ڡ� 27.8 ﮟٮ� ﻣ نﺪﻣآ ﯽٮ� ﺣ� و�ڡ� ﮧﮑٮ. ﺣ. ،ﮯﺌﮔ ﻮ�ٮ ﮯ�y� ﻦٮ� ï» ï»£ 320.52 ïº®ï® ï»®ï¿½Ù® ï»¢ï® ï®¯ïº³
۔ﮯﺌﮔ ﻮ�ٮ ﮯ�y� ﻦٮ� ï» ï»£ 75.30 ïº®ï® Ú¾ï®Ù®. ﮯﺳ ﮯ�y� ﻦٮ� ï» ï»£ 64.62 ﮧ�ٮ رyا ا��ٮ ﮧڡ� ﺎﺿا ﺪﺼٮ� ڡ� 16.53 ﮟٮ� ﻣ تﺎﺣ. ا�ﺣ� ا
ﻦٮ� ï» ï»£ 172.54 تﺎﺣ. ا�ﺣ� ا ﯽﻟﺎﻣ ﺚﻋﺎٮ. ﮯ� ﮯٮ� ٮ� ﻟ ضﺮڡ� Ûدﺎ�� ۔ﺎ�ٮر ﮯ�y� برا 0.188 ﮟٮ� ﻣ ï®¯ï» Ù®. ﺎڡ� ﻣ ﮯ� ﮯ�y� برا 0.266 ﻊڡ� ﺎٮ� ﻣ ﮓٮ� ٮؕ���ٮآ نﺎﺼڡ� ٮ� ﮯ� ﮯ�y� ﻦٮ� ï» ï»£ 7.40 ïº®ï® ï»®ï¿½Ù® ï»¢ï® ï®¯ïº³ ﮯ�y� ﻦٮ� ï» ï»£ 87.40 ﻊڡ� ﺎٮ� ﻣ ﻞٮ. ڡ� ﮯﺳ ﺲﮑٮ� ٮؕ ۔ﮯﺌﮔ ﻮ�ٮ ﮯ�y� ﻦٮ� ï» ï»£ 193.62 ïº®ï® Ú¾ï®Ù®. ﮯﺳ ﮯ�y� ﮟٮ� ﻣ نﺎﺼڡ� ٮ� ﮯ� ﮯ�y� ﻦٮ� ï» ï»£ 48.458 ïº®ï® ï»®ï¿½Ù® ï»¢ï® ï®¯ïº³ ﮯ�y� ﻦٮ� ï» ï»£ 54.048 ﻊڡ� ﺎٮ� ﻣ ﺪﻌٮ. ﮯ� ﺲﮑٮ� ٮؕ ﮯٮ� ﻟ ﮯ� ﯽ�ٮﺎﻣ ﮧﺳ ۔ﺎٮ� ï®” ﻮ�ٮ ﻞ�ٮﺪٮ. �ٮ ﮟٮ� ﻣ ۔ﯽﺌﮔ Ø¢ ﺮ�ٮ نﺎﺼڡ� ٮ� ﮯ� ﮯ�y� 6.24 ïº®ï® ï»®ï¿½Ù® ï»¢ï® ï®¯ïº³ ﮯ�y� 6.96 نﺪﻣآ ﺺﺼﺣ ﯽڡ� ۔ﺎٮ� ï®” لﺪٮ.
ﯽڡ� ﮯٮ� ﻟ ﮯ� Ûﺎﻣ ﻮٮ� ۔ﺎ�ٮر ﮯ�y� ﻦٮ� ï» ï»£ 229.112 ïº®ï® ï»®ï¿½Ù® ï»¢ï® ï®¯ïº³ ﮯ�y� ﻦٮ� ï» ï»£ 559.756 ﻊڡ� ﺎٮ� ﻣ ﺪﻌٮ. ﮯ� ﺲﮑٮ� ٮؕ ﮯٮ� ﻟ ﮯ� تﺪﻣ ﯽ� Ûﺎﻣ ﻮٮ� ۔ﯽï®ï¿½Ù® ﮯ�y� 72.05 لﺎﺳ ﮧٮ� ﺷﺰﮔ ﻮﺣ. ،ﯽ�ٮر ﮯ�y� 29.49 نﺪﻣآ ﺺﺼﺣ
تﺎٮ� ﺎ�ﻣا ﮯ� ﻞٮ. ڡ� ٮ� ﺴﻣ
ﺎٮ� ﻣﺎﺳ ﺎ� ﮯڡ� ﺎﺿا ﮟٮ� ﻣ ﺖڡ� Ù®. ﺎﺴﻣ ﺚﻋﺎٮ. ﮯ� ï¯½ï»¤ï® ï®ŸÙ®ï¿½ ﻣ ﺪ��ﺣ� تÙﻮڡ� ﯽ� ﻦٮ� ڡ� رﺎﺻ رyا ﺖٮ� ﺣﻼﺻ ی�اyاﺪ��ٮ ﺪﺋا� ï»®ï® ÛŒï¿½Ù®Ø•ïº³ï®‰Ù®ï¿½ ا ی�ٮؕ�ٮ. ï¯½ï¿½ï» ï»£ ی�اyاﺪ��ٮ ،ی�ٮ� ٮ� Ù®. ﮟٮ� ﻣ رﺎٮ� ﻌﻣ ﮯ� تﺎﻋﻮٮ� ﺼﻣ ﮧٮ� ﻣﺎﻄ� ٮ� ٮ� ا ،ﻢ�ٮﺎ�ٮ ۔ﮯ�ٮ نﺎ�ﻣا ﺎ� ﮯٮ� ﻮ�ٮ ﺮ�ٮﺎٮ� ﻣ ﯽﺸﺤ� Ù®. ﻊڡ� ﺎٮ� ﻣ ﯽ� ﻞٮ. ڡ� ٮ� ﺴﻣ ﮯﺳ ﺲﺣ. ،ﮯ�ٮ ﺎٮ� ﮑﺳ ﻮ�ٮ ﺖٮ� ﺣﻼﺻ ﯽٮ� ڡ� Ù®. ﺎﺴﻣ ﮧï®ïºŽï¿½Ù® ﮯ�ٮ مﺰﻋﺮ�ٮ ﮯٮ� ﻟ ﮯ� ﮯٮ� ﺎٮ� Ù®. Ø·ï»®Ù®. ﻀﻣ ï»®ï® ØªïºŽï»£ïºªïº£ï¿½ ﺖﺣ� و�ڡ� زا ﺪﻌٮ. رyا Ù„y�ٮؕٮ� ï® ïº®ï¿½Ù® تﺎﺣ. ا�ﺣ� ا ،ﮧڡ� ﺎﺿا ﮟٮ� ﻣ ﺖٮ� ﺣﻼﺻ ۔ﮯ�ﺳ ﺎﺣ. ﺎٮ� ï® ï®§Ú¡ï¿½ ﺎﺿا ﮟٮ� ﻣ ﺮﺌٮ� ﺷ ï§Ù®ï¿½ ï®Ø±ïºŽï»£ رyا
Ùا�ٮ� ﻋا
،ز�ﮉٮ� �y ،نﺎ�ٮﺎﺣ. ی�ٮؕ�ٮ. اyﺎ�و�ڡ� ،ز�ﮉﻟﻮ�ٮ ﺮﺌٮ� ﺷ ،ز�ﺎ�ٮ� �ٮ. ،ﻦٮ� ﻣزﻼﻣ ل�ﻤﺸٮ. ز�ﮉﻟﻮ�ٮ ï®Ù®ï¿½ ٮؕﺳا مﺎﻤ�ٮ ﮟٮ� ﻣ ،ﮯﺳ ïºÙ®ï¿½ ﺎﺣ. ﯽ� ز�ٮؕﮑ��ﺋاڈ ÙØ¢ ڈر�ٮ. ﮯﺳ لد ﮧٮ� �ٮ ﺮ�ٮ دﺎﻤٮ� ﻋا رyا ﯽﺋﺎﻤٮ� �ٮر ،ﺖ�ٮﺎﻤﺣ ï»žïº´ï» ïº´ï»£ ﯽ� نا ﺎ� ں�ﻤٮ� ﻄ� ٮ� �ٮ ی�ﺎ�ﺮﺳ رyا Úºy�ادا زﺎﺳ ﻞﺋﺎٮ. �ﻣ ﻮٮؕآ ،ﻦٮ� ڡ� رﺎﺻ ØŒØ²ï¿½ï» Ù®ï¿½ ٮؕ�� ØŒØ²ï¿½ï» ï¿½Ù®Úˆ ۔ں��ٮ ïºŽï¿½Ù®ïº®ï® Ø§Ø¯Ø§ ﮧ��ﮑﺷ
ﯽٮ� ا�ﺷﺎ�ٮ Ùرﺎﻋ
7 Exide Pakistan Limited
2026ی��ٮ� ﺣ. 29
ﯽﺣ� Ø§ï¿½ï® ï»¦ï¿½Ù®ï»£ïº®ï¿½Ù®ïºŒïº£ï¿½Financial
Unconsolidated
Statements
EXIDE PAKISTAN LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2025
Property, plant and equipment
Long-term loans and advances - unsecured Long-term deposits
Current assets Store and spares Stock-in-trade Trade debts
Loans and advances
Trade deposits, prepayments and other receivables Taxation recoverable
Cash and bank balances
Current liabilities Trade and other payables Mark-up accrued
Loan from Director
Current portion of long term loan Short-term borrowings
Net current assets Long term loan
Financed by:
Share Capital and Reserves
Authorised capital
18,000,000 ordinary shares of Rs 10 each
Issued, subscribed and paid-up capital Capital reserves
Revenue reserves
Reserves arising on amalgamation - net Unappropriated profit / (loss)
Surplus on revaluation of fixed assets - net of tax
(Unaudited) (Audited)
December 31, March 31,
2025 2025
2,200,988 2,196 70,322 |
360,017 7,502,139 5,507,215 153,207 60,685 1,372,965 12,886 |
14,969,114 |
2,218,265 188,902 -27,042 7,667,868 |
10,102,077 |
4,867,037 165,881 |
6,974,662 |
180,000 |
77,686 259 3,329,991 25,823 2,030,958 1,509,945 |
6,974,662 |
6,974,662 |
2,193,184 2,285 40,735 |
286,832 7,117,129 4,107,004 122,365 25,618 1,242,765 1,155,572 |
14,057,285 |
3,549,923 196,342 225,000 30,280 5,307,810 |
9,309,355 |
4,747,930 160,898 |
6,823,236 |
180,000 |
77,686 259 3,329,991 25,823 1,868,696 1,520,781 |
6,823,236 |
6,823,236 |
---------Rupees '000---------
The annexed notes form an integral part of these unconsolidated financial statements.
Arif Hashwani Arshad Shehzada S. Haider Mehdi
Chairman
3rd Quarterly Report 2025 9
EXIDE PAKISTAN LIMITED
UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UNAUDITED) FOR THE NINE MONTHS ENDED DECEMBER 31, 2025
Turnover
Cost of goods sold
Gross profit
Distribution cost Administrative expenses Total Operating expenses
Operating profit / (loss)
Other operating income
Financial charges
Other operating charges
Profit/(Loss) before taxation
Provison for taxation
current - for the period
deferred
Profit/(Loss) after taxation Earnings/(Loss) per share
------------------------------(Unaudited)-----------------------------
Total | |||
For the 3rd Quarter ended December 31, 2025 | For the nine months ended December 31, 2025 | For the 3rd Quarter ended December 31, 2024 | For the nine months ended December 31, 2024 |
----------------------------(Rupees '000)-----------------------------
3,500,451 | 14,597,255 | 4,847,676 | 18,665,330 |
2,916,300 | 12,277,402 | 3,985,413 | 15,438,739 |
584,151 | 2,319,853 | 862,263 | 3,226,591 |
320,516 | 1,092,984 | 530,768 | 1,501,592 |
75,313 | 215,653 | 64,617 | 203,636 |
395,829 | 1,308,637 | 595,385 | 1,705,228 |
188,322 | 1,011,216 | 266,878 | 1,521,363 |
36 | 3,459 | 143 | 1,144 |
188,358 | 1,014,675 | 267,021 | 1,522,507 |
193,622 | 511,100 | 172,539 | 521,082 |
2,131 | 55,936 | 7,078 | 83,793 |
195,753 | 567,036 | 179,617 | 604,875 |
(7,395) | 447,639 | 87,404 | 917,632 |
41,063 - | 218,527 - | 33,356 - | 357,876 - |
41,063 | 218,527 | 33,356 | 357,876 |
(48,458) | 229,112 | 54,048 | 559,756 |
72.05
6.96
29.49
(6.24)
(Rupees)
Appropriations have been reflected in the Statement of Changes in Equity.
The annexed notes form an integral part of these unconsolidated financial statements.
Arif Hashwani Arshad Shehzada S. Haider Mehdi
Chairman
10 Exide Pakistan Limited
EXIDE PAKISTAN LIMITED
UNCONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UNAUDITED) FOR THE NINE MONTHS ENDED DECEMBER 31, 2025
CASH FLOW FROM OPERATING ACTIVITIES
Cash generated from operations Financial charges paid
Taxes paid
Decrease / (Increase) in long-term loans Decrease / (Increase) in long-term deposits Net cash inflow from operating activities
CASH FLOW FROM INVESTING ACTIVITIES
Payment for capital expenditure Proceeds from sale of fixed assets
Net cash outflow on investing activities
CASH FLOW FROM FINANCING ACTIVITIES
Long Term Loan Loan from Director Dividend Paid
Net Increase / (decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at end of the period
2025 2024
------------- (Rupees '000) -------------
(2,134,602) (518,540) (348,727) 89 (29,587) |
(3,031,367) |
(186,801) 16,365 |
(170,436) |
1,745 (225,000) (77,686) |
(300,941) |
(3,502,744) (4,152,238) |
(7,654,982) |
(1,396,805) (587,084) (1,071,431) 36 (3,306) |
(3,058,590) |
(276,746) 62,245 |
(214,501) |
11,118 -(77,686) |
(66,568) |
(3,339,659) (2,074,338) |
(5,413,997) |
The annexed notes form an integral part of these unconsolidated financial statements.
Arif Hashwani Arshad Shehzada S. Haider Mehdi
Chairman
3rd Quarterly Report 2025 11
EXIDE PAKISTAN LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UNAUDITED) FOR THE NINE MONTHS ENDED DECEMBER 31, 2025
Issued, | Revaluation surplus on | |||||||||
subscribed | Capital | Revenue | Reserve | Unappropriated | property, plant Total | |||||
and paid-up capital | reserves | reserves | arising on amalgmation - net | profit | and equipment net of tax | |||||
---------------------------------------------------------------- (Rupees '000) ---------------------------------------------------------------- | ||||||||||
Balance at March 31, 2024 | 77,686 | 259 | 3,329,991 | 25,823 | 1,304,332 | 1,542,562 | 6,280,653 | |||
Final dividend for the year ended March 31, 2024 | - | - | - | - | (77,686) | - | (77,686) | |||
Profit/(Loss) after taxation for the nine months ended December 31, 2024 | - | - | - | - | 559,756 | - | 559,756 | |||
Transferred from surplus on revaluation of | ||||||||||
property, plant and equipment - net of tax | - | - | - | - | 10,740 | (10,740) | - | |||
Balance at December 31, 2024 | 77,686 | 259 | 3,329,991 | 25,823 | 1,797,142 | 1,531,822 | 6,762,723 | |||
Balance at March 31, 2025 | 77,686 | 259 | 3,329,991 | 25,823 | 1,868,696 | 1,520,781 | 6,823,236 | |||
Final dividend for the year ended March 31, 2025 | - | - | - | - | (77,686) | - | (77,686) | |||
Profit/(Loss) after taxation for the nine months ended December 31, 2025 | - | - | - | - | 229,112 | - | 229,112 | |||
Transferred from surplus on revaluation of property, plant and equipment - net of tax | - | - | - | - | 10,836 | (10,836) | - | |||
Balance at December 31, 2025 | 77,686 | 259 | 3,329,991 | 25,823 | 2,030,958 | 1,509,945 | 6,974,662 | |||
The annexed notes form an integral part of these unconsolidated financial statements.
Arif Hashwani Arshad Shehzada S. Haider Mehdi
Chairman
12 Exide Pakistan Limited
NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UNAUDITED) FOR THE NINE MONTHS ENDED DECEMBER 31, 2025
These unconsolidated financial statements are unaudited and are being submitted to shareholders in accordance with the requirements of section 237 of the Companies Act, 2017
These unconsolidated financial statements have been prepared in accordance with the requirements of International Accounting Standard -34 (IAS-34) "Interim Financial Reporting".
The accounting policies adopted in preparation of these unconsolidated financial statements are the same as those applied in the preparation of the preceding annual published financial statements of the Company.
PROPERTY, PLANT AND EQUIPMENT
Following is the cost of operating property, plant and equipment that have been added / disposed off during the nine months ended December 31, 2025.
Building
Plant and machinery Furniture and fixture Office equipment Owned vehicles
Vehicles held under diminishing musharaka Intangible
Disposal
CAPITAL WORK-IN-PROGRESS
Plant and machinery
Cost of additions/(deletions)
December December
2025 2024
----------- (Rupees '000) ---------
20,681
14,443
97,617
191,598
855
585
2,045
5,380
6,644
9,690
49,920
42,028
-
6,123
(13,108)
(82,741)
164,654
187,106
December March
31, 2025 31, 2025
10,024
10,024
19,062
19,062
----------- (Rupees '000) ---------
TRANSACTIONS WITH RELATED PARTIES
The related parties and associated undertakings comprise of local associated companies, staff retirement funds, directors and key management personnel. Transactions with related parties and associated undertakings other than remuneration and benefits to key management personnel, which are under the terms of their employment, are as follows:
December 2025
December 2024
----------- (Rupees '000) ---------
Expenses charged to associated undertakings
6
5
Expenses charged in respect of staff retirement benefits
12,825
11,630
Payment made to the employee defined benefit plan
3,402
3,222
Key management personnel received an amount of Rs. 29,663 thousands (2024 : Rs.37,008 thousands) out of which Rs.838 thousands (2024: Rs. 1,295 thousands) relates to post employment benefits.
3rd Quarterly Report 2025 13
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
The carrying value of all financial assets and liabilities reflected in the unconsolidated financial statements approximate their fair values.
ESTIMATES
Judgments and estimates made by the management in the preparation of these interim financial statements were the same as those that were applied to the financial statements for the year ended March 31, 2025.
GENERAL
Amounts have been rounded off to the nearest thousands of Rupees unless otherwise stated.
DATE OF AUTHORISATION FOR ISSUE
These unconsolidated financial statements were authorised for issue on January 29, 2026 by the Board of Directors of the Company.
Arif Hashwani Arshad Shehzada S. Haider Mehdi
Chairman
14 Exide Pakistan Limited
Financial
Consolidated
Statements
EXIDE PAKISTAN LIMITED
CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2025
Property, plant and equipment
Long-term loans and advances - unsecured Long-term deposits
Current assets Store and spares Stock-in-trade Trade debts
Loans and advances
Trade deposits, prepayments and other receivables Taxation recoverable
Cash and bank balances
Current liabilities Trade and other payables Mark-up accrued
Loan from Director
Current portion of long term loan Short-term borrowings
Net current assets Long term loan
Financed by:
Share Capital and Reserves
Authorised capital
18,000,000 ordinary shares of Rs 10 each
Issued, subscribed and paid-up capital Capital reserves
Revenue reserves
Reserves arising on amalgamation - net Unappropriated profit / (loss)
Surplus on revaluation of fixed assets - net of tax
(Unaudited) (Audited)
December 31, March 31,
2025 2025
2,200,988 2,196 70,322 |
360,017 7,502,139 5,507,215 153,178 60,685 1,372,965 13,058 |
14,969,257 |
2,218,302 188,902 1,325 27,042 7,667,868 |
10,103,439 |
4,865,818 165,881 |
6,973,443 |
180,000 |
77,686 259 3,329,991 25,823 2,029,739 1,509,945 |
6,973,443 |
6,973,443 |
2,193,184 2,285 40,735 |
286,832 7,117,129 4,107,004 122,344 25,618 1,242,765 1,155,616 |
14,057,308 |
3,549,998 196,342 226,125 30,280 5,307,810 |
9,310,555 |
4,746,753 160,898 |
6,822,059 |
180,000 |
77,686 259 3,329,991 25,823 1,867,519 1,520,781 |
6,822,059 |
6,822,059 |
---------------Rupees '000--------------
The annexed notes form an integral part of these consolidated financial statements.
Arif Hashwani Arshad Shehzada S. Haider Mehdi
Chairman
16 Exide Pakistan Limited
EXIDE PAKISTAN LIMITED
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UNAUDITED) FOR THE NINE MONTHS ENDED DECEMBER 31, 2025
Turnover
Cost of goods sold
Gross profit
Distribution cost Administrative expenses Total Operating expenses
Operating profit / (loss)
Other operating income
Financial charges
Other operating charges
Profit/(Loss) before taxation
Provison for taxation
current - for the period
deferred
Profit/(Loss) after taxation Earnings/(Loss) per share
------------------------------(Unaudited)-----------------------------
Total | |||
For the 3rd Quarter ended December 31, 2025 | For the nine months ended December 31, 2025 | For the 3rd Quarter ended December 31, 2024 | For the nine months ended December 31, 2024 |
-----------------------------(Rupees '000)----------------------------
3,500,451 | 14,597,255 | 4,847,676 | 18,665,330 |
2,916,300 | 12,277,402 | 3,985,413 | 15,438,739 |
584,151 | 2,319,853 | 862,263 | 3,226,591 |
320,516 | 1,092,984 | 530,768 | 1,501,592 |
75,313 | 215,653 | 64,617 | 203,636 |
395,829 | 1,308,637 | 595,385 | 1,705,228 |
188,322 | 1,011,216 | 266,878 | 1,521,363 |
36 | 3,459 | 143 | 1,144 |
188,358 | 1,014,675 | 267,021 | 1,522,507 |
193,622 | 511,100 | 172,539 | 521,082 |
2,143 | 55,978 | 7,086 | 83,827 |
195,765 | 567,078 | 179,625 | 604,909 |
(7,407) | 447,597 | 87,396 | 917,598 |
41,063 - | 218,527 - | 33,356 - | 357,876 - |
41,063 | 218,527 | 33,356 | 357,876 |
(48,470) | 229,070 | 54,040 | 559,722 |
72.05
6.96
29.49
(6.24)
(Rupees)
Appropriations have been reflected in the Statement of Changes in Equity.
The annexed notes form an integral part of these consolidated financial statements.
Arif Hashwani Arshad Shehzada S. Haider Mehdi
Chairman
3rd Quarterly Report 2025 17
EXIDE PAKISTAN LIMITED
CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UNAUDITED) FOR THE NINE MONTHS ENDED DECEMBER 31, 2025
CASH FLOW FROM OPERATING ACTIVITIES
Cash generated from operations Financial charges paid
Taxes paid
Decrease / (Increase) in long-term loans Decrease / (Increase) in long-term deposits Net cash inflow from operating activities
CASH FLOW FROM INVESTING ACTIVITIES
Payment for capital expenditure Proceeds from sale of fixed assets
Net cash outflow on investing activities
CASH FLOW FROM FINANCING ACTIVITIES
Long Term Loan Loan from Director Dividend Paid
Net Increase / (decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at end of the period
2025 2024
-------------- (Rupees '000) ------------
(2,134,674) (518,540) (348,727) 89 (29,587) |
(3,031,439) |
(186,801) 16,365 |
(170,436) |
1,745 (224,800) (77,686) |
(300,741) |
(3,502,616) (4,152,194) |
(7,654,810) |
(1,397,158) (587,084) (1,071,431) 36 (3,306) |
(3,058,943) |
(276,746) 62,245 |
(214,501) |
11,118 400 (77,686) |
(66,168) |
(3,339,612) (2,074,336) |
(5,413,948) |
The annexed notes form an integral part of these consolidated financial statements.
Arif Hashwani Arshad Shehzada S. Haider Mehdi
Chairman
18 Exide Pakistan Limited
EXIDE PAKISTAN LIMITED
CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UNAUDITED) FOR THE NINE MONTHS ENDED DECEMBER 31, 2025
Issued, | surplus on | ||||
subscribed | Capital | Revenue | Reserve | Unappropriated | property, plant |
and paid-up | reserves | reserves | arising on | profit | and equipment |
capital | amalgmation - net | net of tax | |||
-------------------------------------------------- (Rupees '000) -------------------------------------------------- | |||||
Revaluation
Total
Balance at March 31, 2024 | 77,686 | 259 | 3,329,991 | 25,823 | 1,303,217 | 1,542,562 | 6,279,538 | |||
Final dividend for the year ended March 31, 2024 | - | - | - | - | (77,686) | - | (77,686) | |||
Profit/(Loss) after taxation for the nine months ended December 31, 2024 | - | - | - | - | 559,722 | - | 559,722 | |||
Transferred from surplus on revaluation of | ||||||||||
property, plant and equipment - net of tax | - | - | - | - | 10,740 | (10,740) | - | |||
Balance at December 31, 2024 | 77,686 | 259 | 3,329,991 | 25,823 | 1,795,993 | 1,531,822 | 6,761,574 | |||
Balance at March 31, 2025 | 77,686 | 259 | 3,329,991 | 25,823 | 1,867,519 | 1,520,781 | 6,822,059 | |||
Final dividend for the year ended March 31, 2025 | - | - | - | - | (77,686) | - | (77,686) | |||
Profit/(Loss) after taxation for the nine months ended December 31, 2025 | - | - | - | - | 229,070 | - | 229,070 | |||
Transferred from surplus on revaluation of property, plant and equipment - net of tax | - | - | - | - | 10,836 | (10,836) | - | |||
Balance at December 31, 2025 | 77,686 | 259 | 3,329,991 | 25,823 | 2,029,739 | 1,509,945 | 6,973,443 | |||
The annexed notes form an integral part of these consolidated financial statements.
Arif Hashwani Arshad Shehzada S. Haider Mehdi
Chairman
3rd Quarterly Report 2025 19
NOTES TO THE CONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS (UNAUDITED) FOR THE NINE MONTHS ENDED DECEMBER 31, 2025
These consolidated financial statements are unaudited and are being submitted to shareholders in accordance with the requirements of section 237 of the Companies Act, 2017
These consolidated financial statements have been prepared in accordance with the requirements of International Accounting Standard -34 (IAS-34) "Interim Financial Reporting".
The accounting policies adopted in preparation of these consolidated financial statements are the same as those applied in the preparation of the preceding annual published financial statements of the Company.
PROPERTY, PLANT AND EQUIPMENT
Following is the cost of operating property, plant and equipment that have been added / disposed off during the nine months ended December 31, 2025.
Building
Plant and machinery Furniture and fixture Office equipment Owned vehicles
Vehicles held under diminishing musharaka Intangible
Disposal
CAPITAL WORK-IN-PROGRESS
Plant and machinery
Cost of additions/(deletions)
December December
2025 2024
---------- (Rupees '000) -----------
20,681
14,443
97,617
191,598
855
585
2,045
5,380
6,644
9,690
49,920
42,028
-
6,123
(13,108)
(82,741)
164,654
187,106
December March
31, 2025 31, 2025
10,024
10,024
19,062
19,062
---------- (Rupees '000) -----------
TRANSACTIONS WITH RELATED PARTIES
The related parties and associated undertakings comprise of local associated companies, staff retirement funds, directors and key management personnel. Transactions with related parties and associated undertakings other than remuneration and benefits to key management personnel, which are under the terms of their employment, are as follows:
December 2025
December 2024
---------- (Rupees '000) -----------
Expenses charged in respect of staff retirement benefits
12,825
11,630
Payment made to the employee defined benefit plan
3,402
3,222
Key management personnel received an amount of Rs. 29,663 thousands (2024 : Rs.37,008 thousands) out of which Rs.838 thousands (2024: Rs. 1,295 thousands) relates to post employment benefits.
20 Exide Pakistan Limited
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
The carrying value of all financial assets and liabilities reflected in the consolidated financial statements approximate their fair values.
ESTIMATES
Judgments and estimates made by the management in the preparation of these interim financial statements were the same as those that were applied to the financial statements for the year ended March 31, 2025.
GENERAL
Amounts have been rounded off to the nearest thousands of Rupees unless otherwise stated.
DATE OF AUTHORISATION FOR ISSUE
These consolidated financial statements were authorised for issue on January 29, 2026 by the Board of Directors of the Company.
Arif Hashwani Arshad Shehzada S. Haider Mehdi
Chairman
3rd Quarterly Report 2025 21
A-44, Hill Street, Off. Manghopir
Road, SET.E.,
exidepk@exide.com.pk
exide.com.pk
r exidepakistanlimited