Financial Results for The Year Ended 30th June 2024

March 25, 2025

The General Manager

Pakistan Stock Exchange Limited Stock Exchange Building

Stock Exchange Road Karachi

Dear Sir,

FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30, 2024

We would like to inform you that the Board of Directors of Hira Textile Mills Limited ("the Company") in their meeting held on March 25, 2025 at 10:00 a.m. at Lahore, reviewed and approved the audited financial results of the Company for the year ended June 30, 2024, and recommended the following:

Annual General Meeting The Annual General Meeting of the Company will be held on Saturday April 19, 2025 at 10:00 a.m. the Company's business office located at 19 Aibak Block New Garden Town, Lahore. Notice of Annual General Meeting and Annual Report for year ended June 30, 2024 shall be transmitted through PUCARS separately within the specified time.

The Annual Report of the Company will be transmitted through PUCARS at least 21 days before holding of Annual General Meeting and shall also be made available on our websitewww.hiratex.com.pk

Closure of Share Transfer Books The Share Transfer Books of the Company will remain closed from April 12, 2025 to April 19, 2025 (both days inclusive). Transfers received in order at the office of the Company's Share Registrar, M/S Vision Consulting Limited. 5-C, 2nd Floor, LDA Flats, Lawrence Road, Lahore, PABX No. +92 423 6283096-97 and Email atinfo@vcl.com.pk by close of business on April 11, 2025, will be treated as being in time for the purposes of attending and voting at the Annual General Meeting.

Yours truly,

For on behalf of Hira Textile Mills Limited

Muhammad Hassnain Seed Sohbin Company Secretary

EQUITY AND LIABILITIES

SHARE CAPITAL AND RESERVES

Authorized share capital

6 7 8 9 10

870,000,000

870,000,000

Issued share capital Share premium Revaluation reserve Accumulated losses Loan from sponsors

865,779,200 865,779,200

82,500,000 82,500,000

1,109,740,199 (3,116,936,020)

1,133,626,295 (2,859,562,232)

481,500,000

481,500,000

TOTAL EQUITY

LIABILITIES

NON-CURRENT LIABILITIES

Long term finances 11

Lease liabilities 12

Employees retirement benefits 13

Deferred interest 14

Deferred taxation 15

CURRENT LIABILITIES

Trade and other payables 16 Unclaimed dividend

Short term borrowings 17

Accrued interest/profit 18

Current portion of non-current liabilities 19

(577,416,621)

(296,156,737)

1,591,728,634 1,439,354,086

TOTAL LIABILITIES

3,525,394,026 3,397,856,006

CONTINGENCIES AND COMMITMENTS

20

TOTAL EQUITY AND LIABILITIES

2,947,977,405 3,101,699,269

(0)

(0)

ASSETS

NON-CURRENT ASSETS

Property, plant and equipment 21

Right-of-use assets 22

Investment in Associate 23

Long term deposits 24

CURRENT ASSETS

Stores and spares

Stock in trade 25

Trade receivables 26

Advances and other receivables 27

Advance income tax/income tax refundable 28

Cash and bank balances 29

TOTAL ASSETS

2,947,977,405

3,101,699,269

0

0

STATEMENT OF PROFIT OR LOSS

FOR THE YEAR ENDED 30 JUNE 2024

Revenue from contracts with customers - net

Note

Audited 30-Jun-24

Rupees

Audited 30-Jun-23 Rupees

30 31

72,816,369

42,200,000

Cost of sales

(240,603,805) (197,076,016)

Gross loss

Selling and distribution expenses 32

Administrative expenses 33

Other expenses 34

Impairment allowance for expected credit losses

(167,787,436) (154,876,016)

(22,185,084)

45.1.6

-

-

(189,972,520)

(165,284,962)

Other income

35

876,973

64,116,874

Operating profit Finance cost Notional interest

(189,095,547) (101,168,088)

36 11.7.1

(115,341,556) (117,732,172)

(3,485,253) (134,781,622)

(118,826,809) (252,513,794)

Loss before taxation

Provision for taxation

(307,922,356) (353,681,882)

37

26,662,472 (12,563,198)

Loss after taxation

(281,259,884) (366,245,080)

Loss per share - basic and diluted

38

(3.25)

(4.23)

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 JUNE 2024

Items that may be reclassified subsequently to profit or loss

Items that will not be reclassified to profit or loss

Remeasurements of defined benefit obligation 13.4

Related taxation attributable to:

- origination and reversal of temporary differences 15.1

- changes in tax rates

Revaluation surplus recognized during the year 9

Related taxation attributable to:

- origination and reversal of temporary differences 9

- changes in tax rates 9

Share of other comprehensive loss of associate - unrealized

-

-

Other comprehensive income

-

Loss after taxation

(281,259,884) (366,245,080)

Total comprehensive (loss)/income

(281,259,884) (366,245,080)

Comprehensive income

Balance as at 01 July 2023

Comprehensive income

Loss after taxation

Other comprehensive (loss)/income

Total comprehensive (loss)/income

Other transactions

Incremental depreciation

Transaction with owners

Balance as at 30 June 2023

Loss after taxation

Other comprehensive income

Total comprehensive income/(loss)

Other transactions

Incremental depreciation

Transaction with owners

Balance as at 30 June 2024

865,779,200

-

-

865,779,200

865,779,200

-

- 865,779,200

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 JUNE 2024

Note

Audited 30-Jun-24

CASH FLOW FROM OPERATING ACTIVITIES

Cash generated from operations

Adjustments for:

Employees retirement benefits Interest on borrowings Income tax

Rupees

Audited 30-Jun-23 Rupees

39

(5,275,602)

5,097,175

- - (1,582,239)

- - (281,750)

Net cash (used in)/generated from operating activities

CASH FLOW FROM INVESTING ACTIVITIES

Purchase of property, plant and equipment

Proceeds from disposal of property, plant and equipment

Net cash generated from/(used in) investing activities

CASH FLOW FROM FINANCING ACTIVITIES

Repayment of long term finances

Payment of lease liabilities

Net cash used in financing activities

(6,857,841)

4,815,425

880,000

(0)

NET DECREASE IN CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR

(5,840,841) 5,902,993

5,028,183

874,810

CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR

40

62,152 0

5,902,993 0