Habib Sugar Mills LimitedPSX: HABSM

Transmission of Report for three-quarters ended June 30, 2025

· Issued by Habib Sugar Mills Limited

Habib Sugar Mills Limited

Report and Condensed Interim Financial Statements

for the Quarter and Nine months ended June 30, 2025 (Unaudited)









Contents

Company Informa1ion 2

Directors' Report 3

Condensed Interim Statement ol Financial Position

Condensed Interim Statement ol Profit or Loss 6

Condensed Interim Statement ct Comprehensive Income

Condensed In terim Statement of Changes in Eauity 8

Condensed In terim StatemenI ol Cash Flows 9

Notes to the Condensed Interim Financial Statements 10

17





Company Information

Board of Direc torc

Audll C ommlnee



chief Financial Officer Company Secretary Registered Oflice





Asghar D. Habib Murtaza Habib Hasnain Hebib



Farouq Habib Rahimloola Sohail Hussain Haji

Muhamm ad Salman Husain C hawala

Tyaba Id uslim Habib

Khursheed A. Jamal Chief Execullve

Faroug Habib Rahimloola Chairman Tyaba Muslim Habib Member

Sohaii Hussain Haji Member

Tyaba Muslim Habib Chairperson

Hasnain Habib Member

K hursheed A. Jamal Member

Amir Bashir Ahmed

lmran fimin U irani '

3rd Floor, Imperial Courl, Dr. Ziauddin Ahmed Road.

Phone* : (*92•21) 35680036 • 5 Lines Fax ' (*92-21) 3'2684 086

habibsugar.com

E-mail sugar habib.com

8ugar ¥ Distiltery Division

Newabshah. Oist+ict Sha heed 6enazitabad Phones : (+92-244) 360751 - 5 Lines

Fax T+92-244) 36 J 314

D- 40/B-1 Manghopir Road

S. l.+.E. Karachi-75700

Phenes : (+92-2 J ) 32'271325, 32572J 19 Fax {*92•21) 30fi72118

60/1•B Oil lnsiallaiion Area Keamaii Karachi•75620

Ph:ones (+92•21 ) 32852003-4

Benkera





Share Registrar

F'a z : {•9z-z 4 ) 3z8S2005

Allied Bank Limited Bank AL Habib Limited Bank Al Falah Limited

Fi+si Women Bank Limited J'2 Bank Limited

Habib Bank Limited

  1. abib Metropolitan Ban k Limited MCB Bank Limiled

    Meezan Bant‹ Limited

    Nation al Bank of Pakistan Untied Bank Limited

    Grant Thornton Anjum Rahman Char lered Accountants

    Heanda Maroon Jakarta Aamir Salman Bizwao $ Oo. Ghartered Accountants

    THK Associates (Pvl.) Limited

    Piol No. G-32, Jam' Comme+cial Streei e D.H,A. Phase VII, Karachi.

    UAN (+92 01) 114 -000-3?£

    Phone (+92-2 J ) 35310184

    Fax t*92-21) 353 J 0101

    E-ma II : sic 1hk.com.pk

    Directors' Report

    Dear Members - Assalam-o-Alekum

    On behalf of the Board of Directors, we are pleased to present the unaudited condensed interim financial statements for the three quarters ended June 30, 2025. The Company has earned pre-tax profit of Rs. 1,901 million (2024: Rs. 2,397 million). The financial results of the Company for the throe quarters ended June 30, 2025 are summarized below:

    Financial Results

    Three Quarters ended June 30, 2025

    ( -----------

    Three Quaners ended June 50, 2024

    Rupees in Million



    Variance

    Profit before taxation

    1,901

    2,397

    (496)

    Less: Taxation

    (900)

    (540)

    (360)

    Profit after taxation

    1,00 I

    1,857

    (856)

    Add: Realized gain on sale of investments

    - shares of companies

    118

    21

    97

    - units of mutual funds

    674

    37

    637

    Total realized gain on sale of investments

    792

    58

    734

    I,79J

    1,915

    (J 22)

    Unappropriated profit brought forward

    248



    243

    Unappropriated profit carried forward

    2,041

    1,920

    121

    Overall performance

    The overall performance of the Company for the period under review after taking effect of the realized gain on sale of investments (shown in equity) remained almost consistent compared to the preceding period. Key Highlights are as under:

    Taxation

    The tax expense for the period under review was increased mainly due to change in basis of tax on the income from export-oriented divisions of the Company, which was previously taxable up to June 30, 2024 at the rate of 1% of receipts and now taxable under the h ormal Tax Regime at the corporate tax rate of 39% (i.e., Income Tax: 29% and Super Tax: 10%). The tax expense for the period had also increased on account of charge of tax on realized gain on sale of investments (shown in the Statement of Changes in Equity) and tax on export subsidy received.



    Realized gain on sale of invesMent.

    1 Ice realized gain on sale of investments significantly increased during the period under review for the reason ihal the Company had di veiled ‹ts investment in lne unirs of mutuel funds on short-term basis from fixed deposits/saviny accounts for bettei i elurns.

    Sugar Division

    The crushing season 2024-25 commenced on No vein ber 20. 2024 and the plant opemted until Merch 5,.2025 for, 106 dnys compared to 1 10 days in the preceding season. Sugarcane crushed duii ng the, current season was 8?9,005 M. Tons with average sucrose recovery o f9.9 16% and sugar production of83,l98 M. Tons as compared with sugarcane crushing of I ,065,705 M. Tons with average sucrose recovery of 10.630% and sugnr production of I 13,286 M. Tons during the preceding season.

    Unlike the previous practice, the Sindh Government did not issue.a notification for fixing a minimum support price for the purchase of sugarcanc for the crushing stason 2024-25. The-Compiny therefo;re, procured sugarcane from growers at prevailing market rates. '.

    The stigar div ision earned opera‹'°6 P• fit If Rs. I ,008 million (2024: Rs. 734 million). Tbn increase in operating profit »'as mainly atiribtited to the higher quantum of sales and profiti realized on éxport of xugar rriade by the Company under ihe ex port quota aItowed by the Ciovernmeiii of Pakistan.

    Distillery Division

    The ethanol production during .the three quarters ended I une 30, 2025 was 19,234 M. Tons (2024: 22,098 M. Tons). The division earned operating pro fii of Rs. 483 million (2024: Rs. 749 million). The decrease in profit was main ly dut to depressed selling prices in the international mnrket and lower sales volunie.

    The Liqu ified Carbon Dioxide (C02) unit produced 7,072 fvf. Tons (2024: T,287 M, Tons)..The contribution of rhe unit is inclurled in the profit of the division

    Textile Division

    The-division earned profit of Rs. 6 million during the period under review (2024: Rs. 13 million). The decreese in profit was mainly attributable to decrease in selling prices and lower sales volume.

    Acknovledgement

    The Board or director expresses its gratitude to all staff.members, shareholders.'financial institutions anA other stakeholders of the Company for their continued support and cooperation.



    On behalf of the Board of Directors



    Khurslieed A. Jamnl

    Chief Executi ve

    Karachi: July 29, 2023

    Mnrtaza Habib

    Director



    HABIB SUGAR MILLS LIMITED

    Condensed Interim Statement of Financial Position As at June 30, 2025 (Unaudited)

    Note

    (Unaudited) June 30,

    2025

    (Audited) September 30,

    2024

    Assets

    ( Rupees

    in

    thousands )

    Now-Curre at Assets

    Property, plant and equipment

    2,119.450

    2,092,699

    Right-of-use assets

    16,583

    14,849

    Long-term investments

    4

    5,173,195

    3,542,201

    Long-term loans

    13,143

    15,259

    Long-terrri deposits

    3,972

    3,972

    7,326,343

    5,666,980

    Current Assets

    Stores and spare pa'ts

    400,121

    353,120

    Stocl:-in-trade

    5

    6,743,361

    5.389,802

    Trade debts

    1.013,385

    859,516

    Loans and advances

    1,222,356

    774,407

    Trade deposits and short-term prepayments

    105,110

    43,537

    Accrued Profit

    1,393

    534

    Other receivables

    336,592

    18,315

    Short-term investments

    6

    3,378,943

    5,780,392

    Cash and bank balances

    7

    2,168,431

    1,101,319

    15,369.692

    14,?20,942

    Total Assets

    22,696,035

    9 989 22

    Eq iicy and Liahilities

    Share Capital and Reserves

    Sh3re Ca|aital

    Authorised Capital

    50,009,000 (Seplemher 30, 2023: 150.000,000)

    750,000

    750,000

    Wrdinai y shares of Fts.5 each

    Issued, subscribed and pnid-up cap:'tal

    115,000, 000 (September 30, 2024: 135,000,000)

    675,000

    675,000

    Qrdinary shores of Rs.5 each

    Resen'ws

    8

    14,840,298



    -rotal Equity

    15,515,298

    13,173,094

    Noii-Current Liabilities Deferred taxation Lease Iiabi!ity

    Current Lie*ililies

    "Frade and other payables Contract Liabi!.ty

    Short-term borrov" +9s Unclaimed dividends Accrued mark-up Taxation - net

    CtirrenI puilion of lease liability

    Contingencies and Commi0nerts Total Eq›aity and Liahilitie



    445,000

    4,191



    449,g91

    2,927,907

    2.231,974

    747,0^.8 '›2B, 103

    490

    380,371

    14,853

10

11

6,730,746

12

2 6 6 0 5

328,500

10,798

339,298

3,092,874

2,115,906

906,732

272,090

1,917

79,911

6 010

6.477,530

19,989,'J22



The annese tes 1 to 21 form zii* integral part of lhese condensed interim financial statements.

mir Bashir A

Chiet Financio/ O///ce/

!d A. Jamal C?JefErucutve

Oireclor



HABIB SUGAR MILLS LIMITED

Condensed Interim Statement of Profit or Loss Account for the quarter and cumulative for three quarters ended June 30, 2025 (Unaudited)

Segment operating results

Note

13

Three Quarters ended Quarter ended June 30, June 30, June 30, June 30,

2025 2024 2025 2024

( Rupees in thousands )

Net sales and services

15,617,351

15,781.431

6,044,623

6.109,607

Cost of sales

(13,443,716)

(13,614,978)

(5,262,686)

(5,269,957)

Gross Profit

2,173,635

2,16d,453

781,937

639,650

Selling and distribution expenses

T355,947)

301,704)

(120,237)

(132, d67)

Administrative expenses

(320,563)

(286,148)

(117,17O)



Other operaling expenses

14

(181.575)

(154,801)

(56.657)

(53.456)

Other income

15

601,470

1,076,225

136,792

316,748

(256,615)

333,572

(157,272)

24,466

Operating profit

1,917,020

2.500,025

624,665

864,116

Finance cost - net

(16,195)

(102,559)

(984)

(49,759)

Profit before levy and income tax

1.@00,82o

2.397,466

623,681

814,357

Levy - Final tax

(160.293)

(207,823)

(39,947)

(56,649)

Profit before income tax



1,740,532

2,189,643

583,734



757,708

Income lax

(372 177)

(237 053

- Ci rrent

40 000

13 000

- Oeferred

(332,177)

(250,053)

Net profit for the period

1,000,825

1,857,466

333,681

604.357

Earnings p+r share

- Basic

Rs

7.41

13.76

2.47

4.48

Xhurshced A. Jamal

Ch,'ef Executive



Murtaz Habib



J"fie annexed notes 1 to 21 form an integral part of these condensed iiterim financial statements



Amir Bashir Ahmed

Chief rin n ml a ce



HABIB SUGAR MILLS LIMITED

Condensed Interim Statement of Comprehensive Income for the quarter and cumulative for three quarters ended June 30, 2025 (Unaudited)

^hree quarters ended Quarter ended

June 30, June 30, June 30, June 30,

2025 2024 2025 2024

( Rupees in thousands )

Net Profit for the period

1,000,825

1,857,466

333,681

604 357

Other comprehensive income :

Iten s that will not be reclassified to the statement of profit or loss :

Unrealised Gain / (Loss) on re-measurement of equi(y at FVOCI - net of tax

2,151,379

2,123, 056

555,583

831, 607

3,152,204

3,980,522

889, 264

1, 435,964

The an nexed notes 1 to 21 form an integ raw pan of these condensed inie run financial statements.



Kh ursheed A. Jamal

Ch el Executive



Murta HabiD



iri B ks ed

Chief Financial Offi'cer

HABIB SUGAR MILLS LIMITED

Condensed Interim Statement of Changes in Equity

For the three quarters ended June 30, 2025 (Unaudited)

Revenue Reserves

Issued Unrealised

Subscribed gain / (loss) on

and Unappro- re-measurement

Paid-up Share Gener al printed of FVOCI Total

Total



Cagitel Premium Reserve Profit investment R eeerves

( Rupees tn hausanas )

Dala me ce on October 01. 2023 (Audited)

750,000

34.000

7.218,500

2,314,549

998,366

4 0,565.406

14 .315,4 06

Final cash dividend for the year ended

30 September 2023 @ I 20%

(900.000)

(900.000)

(900, 000)

Transfer to genereT reserve

-

1.410,000

(1.410,000)

Nel profit for the period

Other comprehensive income for the period

Total comprehensive income for the

period ended June 30. 2024

Realised less on cele of invecnents

5e,395



Sharee cancelled - purchased under buy back scheme



(75,000)

{1,047,455)

(1,122,45 5)

Balance as on June 30, 2024

676 000



34,000

7.5fi1.045

1,930, 401

3 0 3 0z7

t3,598,4 73

13.273 473



675,000

31,000

7,501 ,0d 5

2.057,S86

2.825,463

4 2,498.094

13,173.094

Final cash dividend for the yeer ended 30 September 2024 @ 120%

(8 0.000)

t^ ^0,00Q)



t810.000)

Transfer to general reserve

J ,000.000

(1.000.000)

Net profit for tho period

Older eomprehensive income for the peñod

Total comprehensive income {or lie



period ended June 30, 3025

Realised profif on sale of investments-riel Balance as on June 30, 202g

- 791,880

625 ,000 34, 000 8,584 046 P, 040 091

(791,680) -







Murta Habib





The annexed notes 1 to 2t forrri an integral part of these condensed interim financial stafements.

HABIB SUGAR MILLS LIMITED

Condensed Interim Statement of Cash Flow Statement for the three quarters ended June 30, 2025 (Unaudited)

Note

June 30,

2025

( Rupees

in

June 30,

2024

thousands )

Cash flows from operating activities

Cash (used) / generated in operations

16

(777, 026)

(2,659,004)

Finance (cost) / income received - net

(18,481)

(88,659)

Income tax paid

(594,540)

(456,697)

Long-term loans

2,116

2,484

Net cash (used) / generated operating activities

(1,387,931)

(3,201,876)



Gash flows from investing activities

Fixed capital expenditure

(175,888)

(58,619)

Sale proceeds / redemption of investments

16,123,530

7,107,594

Dividend received

402,382

871,728

Purchase of investments

(13,089,096)

(2,195,938)

Sale proceeds of fixed assets

15,284

3,757

Net cash used in from investing activities

3,276,212

5,728,522

Cash flows frem financing activities

l.ease rentals peid

(7,498)

(10,761)

Buy back of shares for cancellation

(1,122,455)

Dividend paid

(653,987)

(823,602)

Net cash used in financing activities

(661,485)

(1,956,818)

hlet lncreas° / (decrease) in cash and cash equivalents

1,226,796

569,828

Cash ancl cash equivalents at the beginning of the period

194,587

117,638

Cash and c*sh equivalents at the end of the period

17

1,421.383

687,466

Mui1aza Habib



The annexed notes 1 to 21 form an integral part of these condensed interim financial statements



AmshaAmh od

Chief Financial Officer

Uhursheed A. Jamal

Chief Executive

Uirecfor

HABIB SUGAR MILLS LIMITED

Notes to the Condensed Interim Financial Statements For the three quarters ended June 30, 2025 (Unaudited)

  1. THE C OMPANy AND ITS OPB- RATIONS

    1. Habi b Sugar Mills Limited is a public limited Company incorporated in Pakistan, witfi if4 shares quoted on The Paks'an Stcck Exchange Limited. The Company is engaged in me manufacturing and marketing of refined sugar, molasses, ethanol, liquidifiad carbon dioxide (CO2), household Textiles, providing bulk sforage fecilifies and trading of commodities. The registered office of the Company is situated at Imperial Court, 3rd Ffpor, Dr. Ziauddin Ahmed Road, Karachi.

  1. Sta temenI of Compliance

    1. These condensed interim financial slalements are vnaudited and have been prepared in accordance with the accounting and reporting standards as applicabie in Pakistan for interim financial reporting. The accounting and reporting sfandards as applicable in Pakistan for interim financial reporting comprise of:

International Accounting Standards 34; 'lnlerim Financial Reporting', (IAg 34) issued by International Accounting Standard Board (IASB)

as notified under Ihe Companies Act, 2047 (the Act),

Islamic Financiel Accounting Standard s (IFAS) issued by lhe lnstitule of Chartered Accountants of Pakis tan (ICAP) as, notified under the let; and

Provisions of and directives issued under the AGt.

Where lhe provisions of and directives issued under the Act and IFAS differ wilh lhe requirements of IAS 34, the provisions of and directives issued

under the Act and IFAS have been followed.

2.2 These condensed interim financial statements do nol include all the information and disclosures required in the annual financial statements and should be read in conjunction with tha Company's annual financ aI statemarts for the yeer ended Sepember 30. 202 t.

  1. ACC OUT TING POLICIE5, ESTIMATES. JUDGMENT S AND FINANCIAL RISK POLICIES

    The accounting policies, eslimalas, judgements and financial risk policies used in lhese condensed interim financial statements ere the same as

    those applied in the preporafion of ennual financ at statements for the year ended September 30, 2024.

    (Uneudited) (Audiled)

    June 30, September 30.

    2025 2024

    (Rupees in thousands)

  2. Long•term invest*nencs - FVOC)

Investments in related parties - Quoted

3,6S4,255

2,414,4 74

Investments in related parties - u•-ouoted

Investments in other companies - Quoted

13,12l$

1 305.81fi

13, 125

1,1I d_,602

4.1

173 1 5

3,542,201

4.1 1"he aggre9ale cost of these investments, net of impairment is R s.932. 46 (September 30, 2024: Rs.g49.52) million.

s Slock-in-trade

Raw maleriels

1. 614,411

2 &d,802

Work-in-process

82, 161

96,093

Finisr ed goods

4.998, 181

4,09d,G84

Bagasse

S hort-term inves tments

at i=vOC

Un ts of Mutual Funds s.1

6.1 the aggrega ie cost of lhe units of mutual funds is As. 3,368.P11 (September 30, 2024: Rs.5,539.38) million.

148 60g

6 743 361

3,378,9• 4

3 378 943

14 224

5 389 80Z

S 780, 392

5 780 392



Note

(Unaudited) (Audited) June 30, September 30,

202? 2024

(Rupees in thousands)

7.

Cash and bank balances

Cash in hand

Balances with banks in :

4,265

470

Current accounts

73,309

78,375

Treasury call accounts

7.1

2,042,857

974,474

Term Deposit Receipts

48,000

48,000

T.2

2,164.166

1,100,849

2,168,431 1,101,319

7.I Prcfil rates on Treasury call accounts ranged between IO.6O% th 10.00% (September 2024: 14.00°é to 20.60%) per annum.

7.2 Includes Rs. 1,999.15 (Seplember 2024: Rs.1.104.27 ) million kept with Bank AL Habib Limited - a related party.

Reserves

Capital

Share premium

34,000

34,000

General Reserve

B,581,045

7.581.045

Unappropriated profit

2,040,091

2,057,586

Unrealised gain on re-measurement of FVOCI Investments

4.1B5,162

2,825,463

14,806,298

12.464,094

14,840.298

12,488,094

Deferred taxation

Deferred tax liability on taxable temporary difference:

- accelerated tax depreciation

336,500

330,500

- re-measurement of investmenlaccelerated tax depreciation

185,300

73,000

521,800

403,500

Deferred tax asset on deductible temporary difference:

- provision

00

- Others

soo

7 5 0

(76,000)

(75,000)

4# 800

326,500

10.

Trade and other payables

Creditors

2,061,757

2,112,260

Accrued liabilities

542,365

508,101

Payable Io Employees Gratuily Fund

1,856

Sales Tax Payable

173,507

Gas Infrastructure Development Cess

112,577

109,555

Workers' Profit Participation Fund (WPPF)

143,607

149,311

Workers' Welfare Fund

67,442

32,442

Income-tax deducted at source

159

5.842

2,927.907 3,092874

11.

Short-term borrowings - secured

747,048

906,732

The aggregate financing facility available from commercial banks amounted to Rs.17,346 (September 2024: Rs.13,846) million. These financing facilities ere secured by way of registered charge against hypothecation of stock-in-trade. stores and spares. essignment of trade debts and otner receivables. The rate of mark-up charged during the period was 2.00R• to 12.55°4 (September 2024: 2.00% to 22.54%) per annum.

  1. Contingencies and commitments

    1y.2 There has been no significant change in the status of contingencies as disclosed annual financial statements of Ihe Company for the year ended September 30, 2024.

    1. The Company has provided counter guarantees to Bank AL Habib Limited, a related party, amounting to Rs.1,100 (September 30, 2024: Rs.600) million against agriculture finance facili(ies to the growers suopling sugarcane to the mills and counter 9uarantees fo other banks amounting to Rs.4,217.00 (September 30, 2024: Rs.2.691.93 ) million against guarantees issued by banks in favour of Ihird parties on behall of the Company. These guarantees are secured by way of registered charge against hypothecation of stores and spares, stock-in-trade, assignment of trade debts and other

      receivables.

    2. Rentals payable over next four years under Ijarah agreements with

First Habib Modaraba in respect of vehicles

(Unaudited) (Audited)

June 30, Sept. 30,

2025 2024

(Rupees in thousands)

195,038 152,716



  1. Segment operating results for the three quarter's (Unaudited)

    { Rupee s in thousands )

    Sugar Division Distillery Division Textile Division Tra ding Divis ion

    Total

    June 30, June 30, June 30, June 30, June 30, June 30, June 30, June 30, June 30, June 30,

    2025 2024 2025 2024 2025 2024 2025 2024 2025 2024

    10,092,956 8,564,019

    769,122

    523,071 653,057

    3,778,200 4,635,465

    2,790

    44 9,398

    2,303

    512,045

    1,098,879

    310,597

    10,618,817 10,318,258

    4,996,720 5,45B,107

    Net sales and serices Sales Local



    10,862,07B 8,564,019

    4,301,271 5,288, 522 452,188 514,348

    1,409,476 15,615,537 15,776,365

    Services - Storage income - net

    1,814 5,066 -

    1,814 5,066

    10,862,07B 8,564,019

    4,303,085 5,293,588 452,1B8 514 ,348

    1,409,476 15,617,351 15,781,431



    Less: Cost of sales (9,442,672) (7,4 78,103) (3,591,550) (4,351,388) (4 09,494) (467 892)

    Gross profit

    Less Selling and distribution expenses Administralive expenses

    Profit before other operating expenses and other income

    Other operating expenses- Note 14 Other income - Note 15

    Page

    OperaGng P,oGt

    1,419,406 1,085,916

    (121,990)

    (96,370)

    (289,164)

    (255, 201)

    (411,154) (351,571)

    1,008,252 734,345

    711,535 942, 200 42,694 46,456

    (204,089)

    (171,201)

    (24,894)

    (21,685)

    (29,868)

    (24,938)

    (6,505)

    (8,64 7)

    (228,983) (192,886) (36,373) (33,585) 482,552 749,314 6,321 12,871

    91,881

    (9,1g5) (615)

(9,810)

82,071

2, 73,635 2,166,453

(286,148

(355,947)

(320,563)

(301,704)

(676,510) (587,852)

1,4 97,125 1 578,601



601,470 1,076,225

1,917, 020 2,500,025

  1. Segrrient operatin¿g resuits for the qr.arter (Unauciited)

Rupees in thousands )

Sugar Division Distillery Division Textile Division Trading Division Total

June 30, June 30, June 30, June 30, June 30, June 30, June 30, June 30, June 30, June 30,

2025 2024 2025 2024 2025 202d 2025 2024 2025 2024

Net sales ard scrwices Sales Local

Export

3,971,715 3,921,919

3,971,715 3,921,919

231,640 255,964

1,G96,709 1.207,209

1,928,349 1,463,173

128

143,464

4.8

150,446

143,592 150,495

4,203,483

1,840,173

4,662,221

1,444,957

484,2B9

87,302

571,591 6,043,65C 6,107,178

Services - Stcrage income nel

S67 2,423

967 2,4 2".

3,971,715 3,921,919

1,8.29,315 1,465,602

43,592 150,4 9?

571,591

6,044,623 6,109, 607





Less Cost of sales

^or ciss prti fit

Less : Selling ano distribution expenses Ada‹inistrative expenses

Profit before other operating expenses and ether income

J6/ , / Rd 428,217

(25,727j

(45,794)

(113 946)

(100,71B)

(139,673) (146,512) 228,085 281,703

*99,874 393,616 14,305 6,199

(84,148)

(73,574)

(1,377)

(2,901)

(10,362)

(6,890)

(1,847)

(2,143)

(85,525) (76,475) (12,209) (9,033) 314,349 307,141 2,096 (2,C34)

21,618

(6,609)

(197)

(6,806)

14,g12

781,937 839,650

(120,237)

(132,867)

(117,170)

(105,959)

(237,407) (238,826)

544,530

Other operating expenses- Note 14

(56,657)

(53,456)

Page

Other income hiote 15 Operating Protit

136,792 316,748

624,665 864,116



Unaudited

Note

Three quarters ended June 30, June 30,

2025 2024

Ouarter ended June 30, June 30.

2025 2024

14. Other operating expenses

(Rupees in thousands)

Workers' Profit Participation Fund

143,553

130,414

43,438

43,387

Workers' Welfare Fund

35,000

22,000

12,000

10,000

Remeasurement loss on discounting of

Provision for GJDC

.i, 022

2,387

1,219

69

1g1,575

154.801

56,657

53.456

15. Other income

Dividend income

400,176

865,651

10.5,988

219.724

Scrap sale

14,060

5,077

3,777

421

Gain on disposal of fixed assets

14,090

3,654

12,339

Sugar Freight Subsidy

100,741

Agriculture income

14,96t

42,7t9

8,014

11,362

Exchange Gain

57,441

159.114

6,674

85,241

601,470

1.076,225

136,792

316,748

  1. Cash generated from operations

    (Unaudited)

    June 30, June 30,

    2025 2024

    (Rupees in thousands)

    Profit before taxation

    Adjustment for non-cash charges and other items

    1,900,825

    2,397,466

    Depreciation

    146,209

    154.087

    Remeasurement loss on discounting of Provision for GIDC

    3,022

    2,387

    Gain on disposal of fixed assets

    (14,090)

    (3,654)

    Finance cost - net

    16,195

    102,559

    Dividend income

    (400,176)

    (865,651)

    NorXing capital changes - Note 16.1

    (2,429,011)

    (4,446.198)

    (77"/,026)

    (2.659,004)

    16.1

    Working capital changes

    (Increase) / decrease in current assets

    Stores and spare parts

    Stock-in-trade

    Trade debts

    Loans and advances

    Trade deposits and Short-term prepayments

    Other receivables

    (2,38D,0Z2)

    (5,286,540)

    Increase / decrease} in current liabilities

    Grade and other payables

    (164,967)

    59,065

    Advance from customers

    115,978

    781,277

    Net changes in working Capital

    (2,429,011)

    (4,446.198)

    (47,001)

    22,066

    (1,353,559)

    (5,177,784)

    (153.869)

    19.855

    (447,949)

    (147,590)

    (61,573)

    624

    (316,071)

    (3,711)

    Cash and bank balances

    2,168,43t

    1,843,127

    Short-term borrowings

    7 7 04

    1 55 661

    4 1

    4 6

    18. Fair values of Assets and Liabilities

    There were no transfers amongst levels during the period.

  2. Cash and castt equivalents at the end of the period These comprise of the following :

10 , Transactions with related parties

Related parties comprise of subsidiary, associated entities, entities with common directorship, directors and key management personnel. Material transactions with related parties during the period and balances at the end of Ihe period, other than those which have been disclosed elsewhere in these condensed interim financial statements are as follows:

Unaudited Three quarters ended

June 30, June 30.

2025 2024

(Rupees in thousands)

Nature of Relationship

Nature of transactions

Other related party

Investment in shares / units of mutual fund

4.065,866

187,467

Sale of Share / units of mr dual Fund

5,004,638

2.991,867

Insurance premium paid

46,633

38,489

Insurance claim received

43,870

3,428

Profit on treasury call accounts / term deposits

430,310

286,38?

Captial Gain on sale of units of mutual funds

251,306

22,611

Dividend income

325,845

537,679

Dividend paid

89,376

89,376

Bank charges

9

102

Key management personnel Managerial remuneration

75,154

65,771

n•1iromer,tbgnefl(fuuds Contribution to retirement funds

21,432

20,132

19.1 Transactions with related parties are carried out under normal commercial term and conditions.

20 Date of authorisation for issue

These condensed interim financial slatements were aulhorised for issue on July , 2025 by the Board of Directors of the Company

Gene rat

  1. Figures presented in these condensed interim financial statements haye been rounded of to the neares! thousand rupees.

  2. Corresponding figures have been reclassified wheiever necessary for better presentation.

zr Bashir Ahmed

Khursheed A. Jomal



Chief *in ancial Officer

Chfef Executive O jryCfOf













2024'¿/. 30

202S'¿/.30



(496)

2,397



1,901

(300)

(540)

(856)

1,857

g7

21

118

637

37

674

734

58

792

(122)

1,915

1,793

243

5

248

121

1,920

2,041



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