Ibl Healthcare LimitedPSX: IBLHL

Transmission of Quarterly Report for the Period Ended Mar 26

· Issued by IBL HealthCare Limited






  1. Company Information

  2. Directors' Review Report (Eng)

    Position

    Statements



  3. Directors' Review Report (Urdu)

Shahrah-e-faisal, Karachi - 74400

Chief Financial Officer

Mr. Hammad Bin Kafeel

Company Secretary

Mr. Hussain Murtaza

Auditors

A.F. Ferguson & Co., Chartered

Accountants

Internal Auditors

Grant Thornton Anjum Rahman

Legal Advisor

Mohsin Tayabaly & Co.

INFORMATION

Board of Directors

COMPANY

Bankers



Meezan Bank Limited

Ms. Fareen Naz Qureshi

Bank AI Falah Limited

Audit Committee

Chairperson

Bank Islami Pakistan Limited

Mr. Zubair Palwala

Member

Registered Office

Member

Ms. Ameena Saiyid

Oft: Shahrah-e-faisal, Karachi

Chairperson

Ms. Fareen Naz Qureshi

Tipu Sultan Road,

Remuneration Committee

Block 7&8, DMCHS

Human Resource &

2nd Floor, One IBL Centre,

Share Registrar

Member

Ms. Ameena Saiyid



CDC House, 99-B, Block-B, SMCHS

Mr. Sheraz khan

of Pakistan Limited

Chief Executive Officer

Central Depository Company



DIRECTORS' REPORT

The Board of Directors of IBL HealthCare Limited (IBLHL) take pleasure to present before the shareholders, performance review together with the condensed interim financial statements of the Company for the period ended March 31, 2026.

The Directors' report is prepared under section 227 of the Companies Act, 2017, chapter XII clause 34 of Listed Companies (Code of Corporate Governance) Regulations, 2019.

SUMMARY OF FINANCIAL PERFORMANCE

March 31,

2026 2025

(Rupees in Thousand)

Revenue

3,304,785

3,144,700

Gross profit

1,244,749

988,114

Gross profit as a percentage of revenue

38%

31%

Profit before levies and income tax

331,270

252,640

Profit after taxation

167,485

135,468

PRINCIPAL ACTIVITES & OVERVIEW OF FINANCIAL PERFORMANCE

The principal activities of the Company include marketing, selling and distribution of healthcare & consumer products.

During the nine months ended 31 March 2026, revenue grew by 5% to PKR 3,305 million from PKR 3,145 million in the same period last year. The growth in revenue reflects the Company's continued focus on profitable product portfolios, selective pricing and procurement efficiencies. Gross profit rose 26% to PKR 1,245 million, with gross margin expanding to 38% (2025: 31%). During the period, operating expenses increased by 28%, reflecting strategic investments in brand development, channel expansion, and enhanced market coverage.

Finance cost decreased by 33% to PKR 33 million, benefiting from lower policy rates and improved cash management. Profit after taxation improved by 24% to PKR 167 million, compared to PKR 135 million in the corresponding period last year.

FUTURE OUTLOOK

While the macroeconomic environment continues to present challenges, the Company's improved gross margins, disciplined cost management, and stable balance sheet position provide a solid foundation for sustainable performance.

The Company remains focused on driving profitable growth, optimizing working capital, and maintaining strong governance standards to create long-term value for shareholders. We also take this opportunity to thank our employees for their continuing contribution in the achievement of Company's results.

Chief Executive Officer Director

April 28, 2026









HEALTHCARE

A JWR1G Subsidiary

gUARTERLYACCOUNTS

CONDENSED INTERIM FINANCIAL STATEMENT

FOR NINE MONTHS ENDED

MAR 2026





IBL HEALTHCARE LIMITED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT MARCH 31, 2026

Un-audited

Audited

March 31,

June 30,

Note

2026

- (Rupees in

2025

'000)-------

ASSETS

Non-current assets

Furniture and equipment

5

21,168

20,565

Right-of-use asset

18,065

21,499

Investment properties

587,374

587,374

Intangible assets

1,035

1,600

Deferred taxation - net

21,032

10,538

648,674

641,576

Current assets

Inventories

1,024,251

1,270,130

Trade and other receivables

6

2,312,766

1,696,496

Loans, advances, deposits and prepayments

7

214,301

107,819

Refunds due from government - sales tax

13,509

42,924

Taxation - payments less provision

17,734

42,085

Cash and bank balances

8

111,875

208,938

3,694,436

3,368,392

Total assets

4,343,110

4,009,968

EQUITY AND LIABILITIES

Share capital and reserves

Share Capital

Issued, subscribed & paid up capital

9

985,260

856,748

Capital reserve

Share premium

119,600

119,600

Revenue reserve

Unappropriated profit

1,385,675

1,346,702

2,490,535

2,323,050

Liabilities

Non-current liabilities

Lease liability

17,114

19,887

17,114

19,887

Current liabilities

Trade and other payables

10

1,342,900

1,466,510

Advance from customers

32,076

40,347

Short term borrowings

11

435,941

136,355

Current portion of lease liability

3,480

2,738

Unclaimed dividend

7,044

7,057

Unpaid dividend

12

14,020

14,024

1,835,461

1,667,031

Contingencies and commitments

13

Total equity and liabilities

4,343,110

4,009,968

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

Chief Executive Officer Director Chief Financial Officer

IBL HEALTHCARE LIMITED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS & OTHER COMPREHENSIVE INCOME (Un-audited) FOR THE PERIOD ENDED MARCH 31, 2026 Quarter ended Nine-months ended Note March 31, 2026

March 31,

2025

March 31, 2026

March 31,

2025

-------------------------(Rs. in '000)-------------------------

Revenue from contract with customers

14

1,212,720

948,027

3,304,785

3,144,700

Cost of Sales

(769,902)

(634,729)

(2,060,036)

(2,156,586)

Gross Profit

442,818

313,298

1,244,749

988,114

Other income / (loss)

15

1,812

(1,573)

8,615

(1,378)

Marketing and distribution expenses

(244,954)

(197,898)

(747,961)

(583,614)

Administrative and general expenses

(55,162)

(33,618)

(141,536)

(101,800)

Finance cost

16

(11,419)

(15,468)

(32,597)

(48,682)

Profit before levies and income tax

133,095

64,741

331,270

252,640

Levies - minimum tax

17

-

(11,104)

-

(24,836)

Profit before taxation

133,095

53,637

331,270

227,804

Income tax expense

18

(71,206)

(18,193)

(163,785)

(92,336)

Profit after taxation

61,889

35,444

167,485

135,468

Other comprehensive income

-

-

-

-

Total comprehensive income

61,889

35,444

167,485

135,468

(Re-stated)

(Re-stated)

Earnings per share - basic and diluted

0.63

0.36

1.70

1.37

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

Chief Executive Officer Director Chief Financial Officer

IBL HEALTHCARE LIMITED

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (Un-audited) FOR THE PERIOD ENDED MARCH 31, 2026



Issued, subscribed & paid up capital

Reserve for issue of bonus shares

Share Premium

Unappropriated profit

Total share holders' equity

-------------------------------------(Rupees in '000)-------------------------------------

Balance as at July 01, 2024 Transactions with owners

856,748

-

119,600

1,138,331

2,114,679

Transfer for reserve for issuance of bonus shares

-

-

-

-

-

Bonus shares issued in the ratio of 00 shares for every 000 shares held

-

-

-

-

-

Total comprehensive income for the period ended March 31, 2025

-

-

-

135,468

135,468

Balance as at March 31, 2025

856,748

-

119,600

1,273,799

2,250,147

Balance as at July 01, 2025

856,748

-

119,600

1,346,702

2,323,050

Transactions with owners

Transfer to reserve for issuance of bonus shares

-

-

-

-

-

Bonus shares issued in the ratio of 15 shares for every 100 shares held

128,512

-

-

(128,512)

-

Total comprehensive income for the period ended March 31, 2026

-

-

-

167,485

167,485

Balance as at March 31, 2026 985,260 - 119,600 1,385,675 2,490,535

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

Chief Executive Officer Director Chief Financial Officer

IBL HEALTHCARE LIMITED CONDENSED INTERIM STATEMENT OF CASH FLOWS (Un-audited) FOR THE PERIOD ENDED MARCH 31, 2026

Note March 31, 2026

March 31,

2025

-------(Rupees in '000)------- CASH FLOWS FROM OPERATING ACTIVITIES

Profit before taxation

331,270

252,640

Adjustments for non-cash items:

Depreciation of furniture and equipment

4,168

1,935

Depreciation of right-of-use asset

3,434

2,086

Amortization of intangible assets

566

678

Finance cost

32,597

48,682

372,035

306,021

Decrease/(Increase) in working capital

Inventories

245,879

(212,171)

Trade and other receivables

(616,270)

(387,823)

Loans, advances, deposits and prepayments

(106,482)

(42,313)

Refunds due from government - sales tax

29,415

9,938

Trade and other payables

(122,915)

(210,017)

Advance from Customers

(8,271)

23,649

(578,644)

(818,739)

Cash generated from operations

(206,609)

(512,718)

Income tax paid

(149,928)

(116,186)

Finance cost paid

(33,292)

(45,682)

Net cash (used) in /generated from operating activities

(389,829)

(674,586)

CASH FLOWS FROM INVESTING ACTIVITIES

Payments for acquisition of furniture and equipment

(4,771)

(18,338)

Net cash (used) in investing activities

(4,771)

(18,338)

CASH FLOWS FROM FINANCING ACTIVITIES

Dividend paid

(17)

(163)

Short-term loan obtained

3,691,573

2,330,222

Short-term loan repaid

(3,391,988)

(1,978,187)

Payments against lease liability

(2,031)

(3,505)

Net cash (used) in financing activities

297,537

348,366

Net (decrease) in cash and cash equivalents

(97,063)

(344,558)

Cash and cash equivalents at the beginning of the period

208,938

375,594

Cash and cash equivalents at the end of the period

111,875

31,036

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

Chief Executive Officer Director Chief Financial Officer

IBL HEALTHCARE LIMITED

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENT FOR THE PERIOD ENDED MARCH 31, 2026



  1. LEGAL STATUS AND OPERATIONS

    IBL HealthCare Limited (the Company) was incorporated in Pakistan under the repealed Companies Ordinance, 1984 (now the Companies Act, 2017) as a private limited company on July 14, 1997. In November 2008, the Company was converted into public limited company. The shares of the Company are quoted on the Pakistan Stock Exchange. The principal activities of the Company include marketing, selling and distribution of healthcare products.

    The Company is a subsidiary of The Searle Company Limited (the Parent Company) and International Brands Limited (the Ultimate Parent Company).

    The geographical locations and addresses of the Company's business units are as under:

    • The registered office of the Company is located at One IBL Centre, 2nd floor, Plot No.1, Block 7 and 8, D.M.C.H.S. Tipu Sultan Road, Off Shahra-e-Faisal, Karachi.

    • The Company also has a distribution warehouse in Korangi Industrial Area, Karachi.

  2. BASIS OF PREPARATION

    1. Statement of compliance

      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 (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 and notifications issued under the Companies Act, 2017.

      Where the provisions of, directives and notifications issued under the Companies Act, 2017 differ with the requirements of IAS 34, the provisions of, directives and notifications issued under the Companies Act, 2017 have been followed.

      These condensed interim financial statements do not include all the information required for full financial statements and should be read in conjunction with the annual financial statements of the Company for the year ended June 30, 2025.

    2. Basis of measurement

      These financial statements have been prepared under the historical cost convention except as otherwise disclosed in the respective accounting policies below.

    3. Functional and presentation currency

      These unconsolidated condensed interim financial statements are presented in Pakistani Rupees, which is the Company's functional and presentation currency. All amounts have been rounded to the nearest thousand, unless otherwise indicated.

    4. New standards, amendments to approved accounting standards and new interpretations

      1. Amendments to approved accounting standards which are effective during the year ending June 30, 2026

        There are certain amendments to approved accounting standards which are mandatory for accounting periods beginning on or after July 1, 2025 but are considered not to be relevant or have any significant effect on the Company's financial reporting and therefore, have not been disclosed in these condensed interim financial statements.

      2. New standards and amendments to approved accounting standards that are effective for the Company's accounting periods beginning on or after July 1, 2026

        There are certain new standards and amendments that will be applicable to the Company for its annual periods beginning on or after July 1, 2026. The new standards include IFRS 18 Presentation and Disclosure in Financial Statements and IFRS 19 Subsidiaries without Public Accountability: Disclosures both with applicability date of January 1, 2027 as per IASB.

        There are certain amendments to published accounting and reporting standards that includes those made to IFRS 7 and IFRS 9 which clarify the date of recognition and derecognition of a financial asset or financial liability which are applicable effective January 1, 2026.

        The Company's management at present is in the process of assessing the full impacts of these new standards and the amendments to IFRS 7 and IFRS 9 and is expecting to complete the assessment in due course.

        IBL HEALTHCARE LIMITED

        NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENT FOR THE PERIOD ENDED MARCH 31, 2026



  3. MATERIAL ACCOUNTING POLICY INFORMATION

    The material accounting policies and methods of computation adopted in the preparation of these condensed interim financial

    statements are the same as those applied in the preparation of the annual financial statements for the year ended June 30, 2025.

  4. ACCOUNTING ESTIMATES, JUDGMENTS AND FINANCIAL RISK MANAGEMENT

    1. The preparation of condensed interim financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts. Actual results may differ from these judgements, estimates and assumptions.

      However, management believes that the change in outcome of judgements, estimates and assumptions would not have a material impact on the amounts disclosed in these condensed interim financial statements.

    2. Judgements and estimates made by the management in the preparation of these condensed interim financial statements are the same as those that were applied to the financial statements as at and for the year ended June 30, 2025.

    3. The Company's financial risk management objectives and policies are consistent with those disclosed in the financial statements as at and for the year ended June 30, 2025.

Un-audited

March 31,

2026

Audited

June 30,

2025

5.

FURNITURE AND EQUIPMENT

Note

- Rupees in

'000-------

Operating assets

5.1

21,168

20,565

21,168

20,565

5.1 During the period, additions to furniture and equipments amounts Rs. 4.8 million. (March 2025

: 18.34 million)

6. TRADE & OTHER RECEIVABLE

Trade receivables - considered good

Due from related parties

1,014,070

882,121

Others

1,268,783

617,832

2,282,852

1,499,953

Less: Provision for doubtful debts

(27,068)

(27,068)

2,255,784

1,472,885

Claims from Supplier

47,238

57,879

Due from related party

9,730

165,732

Others

14

-

56,982

223,611

2,312,766

1,696,496

7. LOANS, ADVANCES, DEPOSITS & PREPAYMENTS

Short term deposits

96,881

58,402

Prepayments

24,943

24,543

Advances

92,477

24,874

214,301

107,819

8. CASH & BANK BALANCES

Cash at Bank

Conventional

-on current accounts

36,682

159,088

Islamic

-on current accounts

75,127

49,750

Cash in hand

66

100

111,875

208,938

IBL HEALTHCARE LIMITED

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENT FOR THE PERIOD ENDED MARCH 31, 2026



  1. ISSUED, SUBSCRIBED & PAID UP CAPITAL

    Authorised share capital

    Un-audited Audited Un-audited Audited

    March 31,

    2026

    June 30,

    2025

    March 31,

    2026

    June 30,

    2025

    Number of shares --------Rupees in '000-------

    150,000,000 105,000,000

    Issued, subscribed and paid up capital

    Ordinary shares of Rs. 10 each

    1,500,000 1,050,000

    Un-audited Audited Un-audited Audited

    March 31,

    2026

    June 30,

    2025

    March 31,

    2026

    June 30,

    2025

    Number of shares --------Rupees in '000-------

    22,990,000

    22,990,000

    Share allotted for consideration paid in cash

    229,900

    229,900

    75,535,979

    62,684,765

    Shares alloted as bonus shares

    755,360

    626,848

    98,525,979 85,674,765

    985,260 856,748

    Un-audited Audited

    March 31,

    2026

    June 30,

    2025

  2. TRADE & OTHER PAYABLES

    Note

    --------Rupees in '000-------

    Creditors 511,547 867,878

    Accrued liabilities 406,264 306,335

    Due to related parties 382,440 256,068

    Security deposits 4,075 4,075

    Accrued markup 10,750 11,445

    Payable to employee provident fund 2,122 1,601

    Withholding tax payable 8,750 8,626

    Other liabilities 16,951 10,482

    1,342,900 1,466,510

  3. SHORT TERM BORROWINGS

    The Company obtained running musharakah facilities from commercial banks amounting to Rs. 439 million (June 30, 2025: Rs. 439 million) out of which the amount unavailed at the period ended was Rs. 3.06 million (June 30, 2025: Rs. 302.64 million). Rates of profit range from one month KIBOR plus 1% (June 30, 2025: one month KIBOR plus 1%) to three months KIBOR plus 1.25% (June 30, 2025: three month KIBOR plus 1.5%) per annum. These facilities have been secured by way of hypothecation of first pari passu charge over present and future current assets amounting to Rs. 585 million (June 30, 2025: Rs. 585 million).

  4. UNPAID DIVIDEND

    Unpaid dividend in respect of dividend withheld due to non-compliance of certain legal / regulatory requirements by the shareholders.

    IBL HEALTHCARE LIMITED

    NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENT FOR THE PERIOD ENDED MARCH 31, 2026



  5. CONTINGENCIES & COMMITMENTS

Letter of credit outstanding 727,352 653,726

Un-audited

March 31,

Un-audited

March 31,

14. REVENUE FROM CONTRACTS WITH CUSTOMERS

Note

2026

- Rupees

2025

in '000-------

Gross sales

4,130,567

4,237,542

Sales tax

(349,584)

(375,118)

3,780,983

3,862,424

Less:

Sales return

(120,676)

(217,925)

Sales discount

(355,522)

(499,799)

(476,198)

(717,724)

3,304,785

3,144,700

15. OTHER INCOME / (LOSS)

Income from financial assets

Exchange gain / (loss)

4,620

(4,081)

Scrap Sale

(64)

20

Income from non-financial assets

4,556

(4,062)

Rental income from investment property

Others

4,059

-

2,684

-

4,059

2,684

8,615

(1,378)

16. FINANCE COST

Bank charges

667

1,571

Finance lease charges

2,020

103

Mark up on musharakah finance

29,910

47,009

32,597

48,682

17. LEVIES - MINIMUM TAX

This represents minimum tax differential under section 148 of Income Tax Ordinance, 2001, representing levies in terms of requirements of IFRIC 21/IAS 37.

Un-audited Un-audited

March 31,

2026

March 31,

2025

--------Rupees in '000-------

18.

INCOME TAX EXPENSE

Current

-for the period

131,273

92,553

-deferred tax

(10,494)

(217)

-prior year charge

43,006

-

163,785

92,336

IBL HEALTHCARE LIMITED

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENT FOR THE PERIOD ENDED MARCH 31, 2026



19.

SHARIAН СОМРLIANCE STATUS DISCLOSURE

Un-audited

Un-audited

March 31,

March 31,

2026

- Rupees

2025

in '000-------

Statement of financial position - Liability Side

i) Short-term financing as per Islamic mode

435,941

136,355

ii) Mark-up accrued on Islamic loan

10,750

11,445

Statement of financial position - Asset Side

i) Shariah-compliant bank balances

75,127

49,750

Statement of Profit or Loss

Nine Months Ended March 31, March 31,

2026 2025

--------Rupees in '000-------

i) Revenue earned from a Shariah compliant business segment

3,304,785

3,144,700

ii) Exchange Gain / (Loss) - net

4,620

(4,081)

iii) Profit paid on Islamic mode of financing

28,642

41,500

Break-up of Other income excluding profits in bank deposits and TDRs Shariah compliant income:

i) Rental Income

4,059

2,684

ii) Others

(64)

20

  1. Relationship with Shariah-compliant financial institutions Islamic banks

    The Company has facilities with Habib Bank Limited for running musharakah and letter of credits amounting to Rs. 139 million and Rs. 300 million respectively.

    The Company has facilities with Soneri Bank Limited for running musharakah, letter of credit and bank guarantee amounting to Rs. 300 million, Rs. 200 million and Rs. 40 million respectively.

    The Company has facilities with Al Baraka Bank for letter of credit amounting to Rs. 150 million.

    The Company has facilities with National Bank of Pakistan for letter of credit, and letter of credit (Sight) amounting to Rs. 150 million and Rs. 100 million.

    Takaful operators

    The company has obtained various takaful policies from multiple takaful operators including life insurance from IGI Life Insurance Limited, Medical insurance from IGI Life Insurance Limited - Window Takaful, All Risk Contents, Property all risks, Cash in Transit, Cash in Hand, Marine import and in-transit insurance from Jubilee General Insurance Company Limited - Window Takaful.

    IBL HEALTHCARE LIMITED NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENT FOR THE PERIOD ENDED MARCH 31, 2026

    1. RELATED PARTY TRANSACTIONS

      The Company is controlled by The Searle Company Limited, which owns 69.99% of the Company's shares and International Brands Limited holds 0.31% shares in the Company. The remaining 29.70% shares are widely held. IBL Operations (Private) Limited is an associated company on the basis of common directorship.

      Related Party Nature of relationship Nature of transaction March 31, 2026

      March 31,

      2025

      --------Rupees in '000-------

      The Searle Company Parent Purchase of goods 272,272 344,487 Limited

      Rent expense

      4,051

      3,607

      Utilities

      2,474

      2,266

      Reimbursement of expenses

      64,632

      231,883

      Sale of goods

      50,007

      181,869

      International Brands

      Associate

      Corporate service charges

      15,750

      15,750

      (Private) Limited

      IBL Operations

      Associate

      Sale of goods

      1,443,392

      1,196,329

      (Private) Limited

      Shared cost

      17,100

      7,915

      Reimbursement of expenses

      10,111

      -

      United Brands Limited

      Associate

      Sale of goods

      -

      85,193

      IBL Logistics

      (Private) Limited

      Associate

      Frieght charges

      -

      15,351

      United Retail (Private Limited)

      Associate

      Rent

      1,956

      1,337

      Universal Retails (Private Limited)

      Associate

      Rent

      2,103

      1,347

      IBL Unysis (Pvt) Limited

      Associate

      Shared cost

      2,629

      -

    2. DATE OF AUTHORIZATION FOR ISSUE

This condensed interim financial information was authorized for issue on April 28, 2026, by the Board of Directors of the Company.

Chief Executive Officer Director Chief Financial Officer

IBL HealthCare Limited

2nd Floor, One IBL Centre, Plot # 1 Block 7 & 8, (DMCHS), Tipu Sultan Road, off: Shahra-e-Faisal Karachi.

https://www.iblhc.com

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