Transmission of Quarterly Report for the period ended 31-03-2025

‌CONDENSED INTERIM FINANCIAL INFORMATION

‌GOC (PAK) LIMITED

CONDENSED INTERIM FINANCIAL INFORMATION

CORPORATE INFORMATION

DIRECTORS' REPORT

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME

CONDENSED INTERIM STATEMENT OF CASH FLOWS

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY

SELECTED NOTES TO THE CONDENSED INTERIM FINANCIAL INFORMATION

JAMA PUNJI

‌GOC (PAK) LIMITED

CONDENSED INTERIM FINANCIAL INFORMATION

BOARD OF DIRECTORS Mr. Khawar Anwar Khawaja (Chief Executive)

Mr. Khurram Anwar Khawaja (Chairman) Mr. Muhammad Tahir Butt

Mrs. Nuzhat Khawar Khawaja Mr. Ameer Khawar Khawaja Mr. Omer Khawar Khawaja

Dr. Aamir Matin

Syed Zahoor Hassan

AUDIT COMMITTEE Syed Zahoor Hassan

Mr. Khurram Anwar Khawaja Mr. Omer Khawar Khawaja

HUMAN RESOURCE AND

REMUNERATION COMMITTEE Syed Zahoor Hassan

Mr. Khurram Anwar Khawaja Mr. Khawar Anwar Khawaja

CORPORATE SECRETARY / CFO Arfan Shahzad

HEAD OF INTERNAL AUDIT Asif Asghar

AUDITORS HLB Ijaz Tabussum & Company Chartered Accountants

Office # 1, 3rd Floor, Madina Heights 87-E, Maulana Shaukat Ali Road Johar Town, Lahore - Pakistan Phone: (042) 35173258, 35173260

E-mail: matabussum@yahoo.com

REGISTERED OFFICE Small Industries Estate

AND WORKS Sialkot 4, Pakistan

Phone: (052) 3555338-3563051-52

Fax: (052) 3551252, 3553609

E-mail: info@gocpak.com Website: https://www.gocpak.com

SHARE REGISTRARS CorpTec Associates (Pvt) Limited 503-E, Johar Town, Lahore Phone: (042) 35170336-7

Fax: (042) 35170338

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‌GOC (PAK) LIMITED

CONDENSED INTERIM FINANCIAL INFORMATION

It gives me great pleasure to present, on behalf of the Board of Directors, the condensed interim financial information (un-audited) for the quarter and nine months ended 31 March 2025.

The sales for the nine months have increased by 11.15% from Rupees 333.186 million to Rupees 370.332 million as compared with the corresponding period. The Company earned gross profit of Rupees 114.885 million as compared to Rupees 102.604 million for the corresponding period.

The share of Profit of associated company, Grays Leasing Limited, was recorded at Rupees 2.114 million against Rupees 3.514 million for the corresponding period.

The Company has continued to focus on reassessing the changing needs of the market and investing in product quality and innovation.

The Board places on record its profound gratitude for its valued shareholders and customers, whose cooperation, continued support and patronage have enabled the company to strive for improvement. During the period under review, relations between the management and employees remained cordial and we wish to place on record our appreciation for the dedication, perseverance and diligence of the staff and workers of the company.

ON BEHALF OF THE BOARD OF DIRECTORS

Sialkot: 28 April, 2025 (Khawar Anwar Khawaja) (Muhammad Tahir Butt)

Chief Executive Officer Director

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‌GOC (PAK) LIMITED

CONDENSED INTERIM FINANCIAL INFORMATION

04

‌GOC (PAK) LIMITED

CONDENSED INTERIM FINANCIAL INFORMATION

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT MARCH 31, 2025

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

KHAWAR ANWAR KHAWAJA

CHIEF EXECUTIVE

ARFAN SHAHZAD

CHIEF FINANCIAL OFFICER

MUHAMMAD TAHIR BUTT

DIRECTOR

05

‌GOC (PAK) LIMITED

CONDENSED INTERIM FINANCIAL INFORMATION

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE PERIOD ENDED 31 MARCH 2025

Note Rupees Rupees Rupees Rupees

REVENUE 370,331,949 333,186,289 181,733,033 84,140,748

COST OF SALES 7 (255,447,177) (230,582,778) (123,528,901) (59,796,593)

GROSS PROFIT 114,884,772 102,603,511 58,204,132 24,344,155

DISTRIBUTION COST ADMINISTRATIVE EXPENSES OTHER EXPENSES

(80,283,538) (76,126,033) (27,605,017) (22,456,062)

34,601,234 26,477,478 30,599,115 1,888,093

OTHER INCOME 16,385,108 17,872,164 4,893,873 4,963,684

PROFIT FROM OPERATIONS 50,986,342 44,349,642 35,492,988 6,851,777

FINANCE COST (1,014,974) (573,479) (483,825) (250,397)

49,971,368 43,776,163 35,009,163 6,601,380

SHARE OF PROFIT OF ASSOCIATED

COMPANY 2,114,427 3,514,070 620,040 1,640,426

PROFIT BEFORE LEVY & TAXATION 52,085,795 47,290,233 35,629,203 8,241,806

LEVY (8,011,556) (5,812,658) (3,347,670) (2,142,397)

44,074,239 41,477,575 32,281,533 6,099,409

TAXATION

• Current

• Prior year adjustment

• Share of tax of associated company

(1,001,190) (2,276,526) (333,984) 2,578,297

PROFIT AFTER TAXATION 43,073,049 39,201,049 31,947,549 8,677,706

EARNINGS PER SHARE - BASIC AND DILUTED 5.86 5.33 4.35 1.18

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

KHAWAR ANWAR KHAWAJA

CHIEF EXECUTIVE

ARFAN SHAHZAD

CHIEF FINANCIAL OFFICER

MUHAMMAD TAHIR BUTT

DIRECTOR

06

‌GOC (PAK) LIMITED

CONDENSED INTERIM FINANCIAL INFORMATION

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE PERIOD ENDED 31 MARCH 2025

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

KHAWAR ANWAR KHAWAJA

CHIEF EXECUTIVE

ARFAN SHAHZAD

CHIEF FINANCIAL OFFICER

MUHAMMAD TAHIR BUTT

DIRECTOR

07

‌GOC (PAK) LIMITED

CONDENSED INTERIM FINANCIAL INFORMATION

CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE PERIOD ENDED 31 MARCH 2025

KHAWAR ANWAR KHAWAJA

CHIEF EXECUTIVE

ARFAN SHAHZAD

CHIEF FINANCIAL OFFICER

MUHAMMAD TAHIR BUTT

DIRECTOR

08

‌CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE PERIOD ENDED 31 MARCH 2025

09

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

GOC (PAK) LIMITED

CONDENSED INTERIM FINANCIAL INFORMATION

KHAWAR ANWAR KHAWAJA

CHIEF EXECUTIVE

ARFAN SHAHZAD

CHIEF FINANCIAL OFFICER

MUHAMMAD TAHIR BUTT

DIRECTOR

‌GOC (PAK) LIMITED

CONDENSED INTERIM FINANCIAL INFORMATION

SELECTED NOTES TO THE CONDENSED INTERIM FINANCIAL INFORMATION (UN-AUDITED) FOR THE PERIOD ENDED 31 MARCH 2025

1. THE COMPANY AND ACTIVITIES

   GOC (Pak) Limited was incorporated in Pakistan on 02 June 1964 as a private Company limited by shares under the Companies Act, 1913 (Now Companies Act, 2017) and converted into a public limited Company on 17 April 1986. The Company's shares are quoted on Pakistan Stock Exchange Limited. The registered office of the Company is situated at Small Industries Estate, Sialkot. The Company is engaged in manufacturing and sale of hockey sticks, cricket ball and other quality sports goods.

2. BASIS OF PREPARATION

   1. These condensed interim financial statements have been prepared in accordance with the accounting and reporting standard 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 (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 the provisions of and directives issued under the Companies Act, 2017 differ with the requirements of IAS 34, the provisions of and directives issued under the Companies Act, 2017 have been followed.

   2. These condensed interim financial statements do not include all the information and disclosures required in annual financial statements and should be read in conjunction with the annual audited financial statements of the Company for the year ended 30 June 2024. These condensed interim financial statements are un-audited.

3. ACCOUNTING POLICIES

   The accounting policies and methods of computations adopted for the preparation of these condensed interim financial statements are the same as applied in the preparation of the preceding audited annual published financial statements of the Company for the year ended 30 June 2024.

   1. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

      The preparation of these condensed interim financial statements in conformity with the approved accounting standards requires the use of certain critical accounting estimates. It also requires the management to exercise its judgment in the process of applying the Company's accounting policies. Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

      Audited 30 June

      2024

      Un-audited 31 March

      2025

      During preparation of these condensed interim financial statements, the significant judgments made by the management in applying the Company's accounting policies and the key sources of estimation and uncertainty were the same as those that applied in the preceding audited annual published financial statements of the Company for the year ended 30 June 2024.

4. PROPERTY, PLANT AND EQUIPMENT

   Rupees Rupees

   Operating fixed assets (Note 4.1) 158,330,538 168,935,344

   1. Operating fixed assets

      Opening book value 168,935,344 159,253,815

      Cost of additions during the period / year (Note 4.1.1) 2,520,825 31,326,542

      Book value of deletions during the period / year (Note 4.1.2) (246,249) (4,294,304) Depreciation charge for the period / year (12,879,382) (17,350,709)

      Closing book value 158,330,538 168,935,344

      1. Cost of additions during the period / year

‌GOC (PAK) LIMITED

CONDENSED INTERIM FINANCIAL INFORMATION

5.1.1 Grays Leasing Limited is a public limited company incorporated in Pakistan under the repealed Companies Ordinance, 1984 (now Companies Act, 2017) on 31 August 1995. Its shares are listed on Pakistan Stock Exchange. It is engaged in leasing business. The quoted fair value of investment of the Company in Grays Leasing Limited as on 31 March 2025 is Rupees 39,599,995 (30 June 2024: Rupees 31,359,996).

1. CONTINGENCIES AND COMMITMENTS

   Contingencies:

   Post dated cheques issued to Custom authorities amounting to Rupees 267.672 million (30 June 2024: Rupees 267.672 million).

   Commitments Nil Nil

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   ‌GOC (PAK) LIMITED

   CONDENSED INTERIM FINANCIAL INFORMATION

   Un-audited
   Nine months ended		Quarter Ended
   31 March 2025	31 March 2024	31 March 2025	31 March 2024

   Rupees Rupees Rupees Rupees

2. COST OF SALES

   Raw material consumed	99,804,979	102,886,731		42,121,426	38,432,215
   Processing charges - composite	10,430,860	15,225,850		4,706,960	3,320,500
   Salaries, wages and other benefits	114,119,186	97,172,570		46,032,626	36,542,507
   Stores, spare parts and loose tools consumed	3,090,207	3,680,671		1,007,974	1,265,568
   Repair and maintenance	3,015,589	3,979,665		703,082	1,839,788
   Fuel and power	5,639,916	9,863,708		2,701,847	4,651,782
   Vehicles running	1,454,812	1,213,929		508,353	354,118
   Insurance	1,251,170	1,397,326		410,968	374,469
   Other factory overheads	256,081	273,898	-	618,560	131,900
   Depreciation	7,050,873	6,987,214		2,320,721	2,366,264
   	246,113,673	242,681,562		99,895,397	89,279,111
   Work-in-process
   Opening stock	113,690,846	94,135,014	87,734,676		86,199,042
   Closing stock	(71,724,065)	(90,411,289)	(71,724,065)		(90,411,289)
   	41,966,781	3,723,725		16,010,611	(4,212,247)
   Cost of goods manufactured	288,080,454	246,405,287		115,906,008	85,066,864
   Finished goods
   Opening stock	16,711,955	28,914,480	56,968,125		19,466,718
   Closing stock	(49,345,232)	(44,736,989)	(49,345,232)		(44,736,989)
   	(32,633,277)	(15,822,509)		7,622,893	(25,270,271)
   	255,447,177	230,582,778		123,528,901	59,796,593

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   ‌GOC (PAK) LIMITED

   CONDENSED INTERIM FINANCIAL INFORMATION

3. RECOGNIZED FAIR VALUE MEASUREMENTS - FINANCIAL INSTRUMENTS

   1. Fair value hierarchy

      Judgements and estimates are made in determining the fair values of the financial instruments that are recognized and measured at fair value in these condensed interim financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the following three levels. An explanation of each level follows underneath the table:

      Recurring fair value measurements at 31 March 2025	Level 1	Level 2	Level 3	Total
      	…………………...Rupees…………………….

      Financial assets Investments at fair value through other comprehensive income	432,027	-	-	432,027
      Total financial assets	432,027	-	-	432,027

      Recurring fair value measurements at 30 June 2024	Level 1	Level 2	Level 3	Total
      	…………………...Rupees…………………….

      Financial assets Investments at fair value through other comprehensive income	397,701	-	-	397,701
      Total financial assets	397,701	-	-	397,701

      13

      
      
      

      ‌GOC (PAK) LIMITED

      CONDENSED INTERIM FINANCIAL INFORMATION

      The above table does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amounts are a reasonable approximation of fair value. Due to short term nature, carrying amounts of certain financial assets and financial liabilities are considered to be the same as their fair value. For the majority of the non-current receivables, the fair values are also not significantly different from their carrying amounts.

      There were no transfers between levels 1 and 2 for recurring fair value measurements during the year. Further, there was no transfer in and out of level 3 measurements.

      The Company's policy is to recognize transfers into and transfers out of fair value hierarchy levels as at the end of the reporting period.

      Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives, and trading and equity securities) is based on quoted market prices at the end of the reporting period. The quoted market price used for financial assets held by the Company is the current bid price. These instruments are included in level 1.

      Level 2: The fair value of financial instruments that are not traded in an active market (for example, over-the-counter derivatives)is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

      Level 3 : If one or more of the significant inputs is not based on observable market data, the instrument is included in level

      3. This is the case for unlisted equity securities.

   2. Valuation techniques used to determine fair values

      Specific valuation techniques used to value financial instruments include the use of quoted market prices.

4. TRANSACTIONS WITH RELATED PARTIES

The related parties comprise associated companies, key management personnel and staff retirement fund. Detail of transactions with the related parties is as follows:

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 30 June 2024.

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‌GOC (PAK) LIMITED

CONDENSED INTERIM FINANCIAL INFORMATION

1. DATE OF AUTHORIZATION

   These condensed interim financial statements were approved by the Board of Directors and authorized for issue on 28 April 2025.

2. CORRESPONDING FIGURES

There are no material reclassifications of comparative figures.

KHAWAR ANWAR KHAWAJA

CHIEF EXECUTIVE

ARFAN SHAHZAD

CHIEF FINANCIAL OFFICER

MUHAMMAD TAHIR BUTT

DIRECTOR

15

‌GOC (PAK) LIMITED

CONDENSED INTERIM FINANCIAL INFORMATION

16

if undelivered please return to:

Small Industries Estate, Sialkot 51310 E-mail : Info@gocpak.com

Tel : (052) 3563051 - 3563052

Fax : (052) 3551252