(UN-AUDITED)
ICC Industries Limited
( Formerly ICC Textiles Limited )
DIRECTORS' REPORT TO THE MEMBERS
On behalf of the Board of Directors, we hereby present the interim financial information of the company for the 1st quarter ended on September 30, 2025.
The company earned profit after tax amounting to Rs. 1.768 million and registered revenue of Rs. 15.830 million as against after tax loss of Rs. 5.425 million against revenue of Rs. 11.163 million in the corresponding period resulting in earning per share of Rs. 0.06 ( Jul 2024 - Sep 2024 Rs. 0.18 loss per share ). Increase in revenue is due to utilization of enhanced covered area at higher rates.
For the financial year 2026, the domestic economy is projected to strengthen further. Key macroeconomic indicators reflect encouraging trends, inflation has eased, the policy rate has been reduced, and external inflows have reinforced economic stability. Nonetheless, political polarization, regional security challenges, and global market uncertainties continue to pose potential risks to investor sentiment. In this environment, the Company continues to pursue a prudent and disciplined strategy. Presently, a substantial portion of the covered area is being utilized for warehousing operations, resulting in improved financial performance.
The directors appreciate the continued commitment, dedication and hard work shown by the employees of the company.
For and on behalf of the Board of Directors
Lahore: | PERVAIZ S. SIDDIQI | SALMAN JAVAID SIDDIQI |
Dated: October 29, 2025 | Chairman/Director | Director |
STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2025
EQUITY AND LIABILITIES | Note | September 2025 Rupees |
June 2025
Rupees
SHARE CAPITAL Authorised share capital 32,000,000 ordinary shares (June 2025: 32,000,000) of Rs.10 each | 320,000,000 | 320,000,000 | ||
Issued, Subscribed & Paid up share capital 30,001,120 ordinary shares (June 2025: 30,001,120) of Rs.10 each fully paid in cash | 300,011,200 | 300,011,200 | ||
DIRECTORS LOANS - Unsecured SURPLUS ON REVALUATION OF PROPERTY, PLANT AND EQUIPMENT - NET OF TAX | 4 | 761,328,431 612,192,456 | 761,328,431 612,396,185 | |
ACCUMULATED LOSS | (776,017,518) | (777,988,847) | ||
897,514,569 | 895,746,968 | |||
NON CURRENT LIABILITIES | ||||
Deferred tax liability | 2,529,065 | 2,612,279 | ||
Staff retirement benefits - Gratuity | 47,266,560 | 45,396,938 | ||
49,795,625 | 48,009,217 | |||
CURRENT LIABILITIES | ||||
Trade and other payables | 120,040,125 | 118,289,271 | ||
Security deposits | 8,013,275 | 8,013,275 | ||
Accrued mark-up | 158,005,704 | 158,005,704 | ||
Un-claimed dividend | 1,662,656 | 1,662,656 | ||
287,721,760 | 285,970,906 | |||
CONTINGENCIES AND COMMITMENTS | 6 | - | - | |
1,235,031,954 | 1,229,727,090 | |||
ASSETS | ||||
NON CURRENT ASSETS | ||||
Property, plant and equipment | 13,961,062 | 14,359,154 | ||
Investment property | 1,198,756,086 | 1,198,756,086 | ||
Long term loans and advances | 16,000 | 16,000 | ||
Long term deposits | 1,454,040 | 1,454,040 | ||
1,214,187,188 | 1,214,585,280 | |||
CURRENT ASSETS | ||||
Stores, spares and loose tools | 516,047 | 526,401 | ||
Trade debts | 6,988,132 | 566,166 | ||
Loans and advances | 153,877 | 158,917 | ||
Short term prepayments and other receivables | 533,543 | 59,571 | ||
Tax refunds due from Government | 10,277,199 | 10,689,593 | ||
Cash and bank balances | 2,375,969 | 3,141,163 | ||
20,844,767 | 15,141,810 | |||
1,235,031,954 | 1,229,727,090 | |||
The annexed notes form an integral part of these financial statements. | ||||
Lahore: Dated October 29, 2025 Director Director Chief Financial Officer
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE QUARTER ENDED SEP 30, 2025 | Note | Jul-Sep 2025 Rupees | Jul-Sep 2024 Rupees | ||
REVENUE | 7 | 15,829,927 | 11,162,713 | ||
DIRECT COST | 8 | (4,907,538) | (5,068,508) | ||
GROSS PROFIT | 10,922,390 | 6,094,205 | |||
ADMINISTRATION COST | (7,397,559) | (8,785,641) | |||
OTHER EXPENSES OTHER INCOME | (300,763) - | (354,398) - | |||
OPERATING (LOSS) / PROFIT | 3,224,068 | (3,045,834) | |||
FINANCE COST | 9 | (58,140) | (1,920) | ||
LOSS BEFORE TAXATION | 3,165,928 | (3,047,754) | |||
TAXATION | 10 | (1,398,328) | (2,377,276) | ||
LOSS AFTER TAXATION | 1,767,600 | (5,425,030) | |||
OTHER COMPREHENSIVE INCOME | - | - | |||
TOTAL COMPREHENSIVE LOSS | 1,767,600 | (5,425,030) | |||
LOSS PER SHARE- BASIC AND DILUTED | 0.06 | (0.18) |
Total Rupees
Accumulated
(Loss) Rupees
Paid-up Capital Rupees | Directors Loans Rupees | Revaluation Surplus Rupees |
Other comprehensive income - -
for the period -
Net loss for the period -5,425,030 (5,425,030)
Incremental depreciation - net -
of tax -203,172 203,172 -
Loan obtained 3,000,000 3,000,000
Balance-September 30, 2024 300,011,200 761,328,431 613,001,285 -767,888,098 906,452,818Balance-June 30, 2025 | 300,011,200 | 761,328,431 | 612,396,186 | -777,988,847 | 895,746,969 |
Other comprehensive income | |||||
for the period | - | - | |||
Net loss for the period | - | - | |||
Incremental depreciation - net of | 1,767,600 | 1,767,600 | |||
of tax Loan obtained | - | -203,729 | 203,729 | - - | |
Balance-September 30, 2025 | 300,011,200 | 761,328,431 | 612,192,457 | -776,017,518 | 897,514,570 |
The annexed notes form an integral part of these financial statements.
Lahore: Dated October 29, 2025 Director Director Chief Financial Officer
Jul-Sep
2024
Rupees
Jul-Sep
2025
Rupees
Note
(1,920)
(2,787,571)
-
(58,140)
(1,069,147)
-
Financial charges paid Taxes paid
Gratuity paid
(1,127,287) (2,789,491) Net cash generated from operating activities ( A ) (765,195) (1,105,660) CASH FLOW FROM INVESTING ACTIVITIES(25,000)
-
-
-
Long term loans & advances Fixed capital expenditure
Net cash flow from / ( used in ) investing activities ( B ) - (25,000) CASH FLOW FROM FINANCING ACTIVITIES-
3,000,000
-
-
Short term borrowings - Secured Long term loans from directors
Net cash flow used in financing activities ( C ) - 3,000,000 Net Increase in cash and bank balances ( A+B+C ) (765,195) 1,869,340 Cash & bank balances at the beginning of the period 3,141,163 802,877
Cash & bank balances at the end of the period 2,375,969 2,672,218 The annexed notes form an integral part of these financial statements.
Lahore: Dated October 29, 2025 Director Director Chief Financial Officer
NOTES TO THE FINANCIAL STATEMENTS FOR THE THE QUARTER ENDED SEP 30, 2025These accounts have been prepared in accordance with the requirements of International Accounting Standard No. 34 "Interim Financial Reporting".
The accounts are being submitted to the shareholders as required by Section 237 of The Companies Act, 2017.
The accounting policies adopted for the preparation of the accounts are the same as those of applied in the preparation of the preceding annual published financial statements of the company for the year ended June 30, 2025.
Sep, 2025
Rupees
Jun, 2025
Rupees
- DIRECTORS LOANS - Unsecured
Loan - 1 321,531,223 321,531,223
Loan - 3 5,000,000 5,000,000
Loan - 4 140,000,000 140,000,000
Loan - 5 294,797,208 294,797,208
761,328,431 761,328,431This represents unsecured interest free loans advanced to meet the liquidity requirements of the company and are repayable at the discretion of the company.
5 | CONTINGENCIES AND COMMITMENTS | ||
5.1 Contingencies There are no other significant activities since June 30, 2025 affecting financial statements. | |||
Jul-Sep | Jul-Sep | ||
6 ADDITIONS / DELETIONS IN FIXED ASSETS DURING THE PERIOD | 2025 Rupees | 2024 Rupees | |
Written down value - opening | 14,359,154 | 15,963,174 | |
Cost of addition | - | - | |
Disposal during the year - WDV | - | - | |
Depreciation charge for the period | 398,092 | 403,516 | |
398,092 | 403,516 | ||
13,961,062 | 15,559,658 | ||
7 REVENUE | |||
Rental income | 15,829,927 | 11,162,713 | |
8 DIRECT COST | 2 | ||
Salaries, wages and benefits | 3,482,429 | 2,629,907 | |
Fuel and power | 828,557 | 1,070,991 | |
Stores & spares consumed | 52,265 | 131,258 | |
Repair & maintenance | 58,100 | 760,950 | |
Depreciation | 346,186 | 345,402 | |
Others | 140,000 | 130,000 | |
4,907,538 | 5,068,508 | ||
9 FINANCE COST | |||
Additional charge on WWF payable | 58,040 | - | |
Bank charges | 100 | 1,920 | |
58,140 | 1,920 | ||
10 TAXATION - Current | 1,481,541 | 2,460,262 | |
- Deferred | (83,213) | (82,986) | |
1,398,328 | 2,377,276 | ||
Jul-Sep 2024
Rupees
Jul-Sep 2025
Rupees
-
CASH FLOW FROM OPERATING ACTIVITIES
Profit / ( Loss ) before taxation 3,165,928 (3,047,754)
Adjustments for:
403,516
-
-1,361,453
1,920
398,092
-46,758
1,869,622
58,140
Depreciation
(Gain)/Loss on disposal of property plant and equipment
Workers welfare fund Staff gratuity Financial cost
(Increase) / Decrease in current assetsStores, spares and loose tools Trade debts
Loans and advances
Short term prepayments & other receivables Sales tax refundable
Increase / (Decrease) in current liabilities 2,372,612 1,766,889 5,538,540 (1,280,865)10,353
(6,421,966)
5,040
(473,971)
-
(11,968)
(4,884,890)
284,430
660,889
-
Trade and other payables 1,704,096 4,802,876 Security deposits - (5,789,720)
Net cash generated from operations 362,092 1,683,830-
DATE OF AUTHORISATION
These accounts have been approved by the Board of Directors on October 29, 2025.
-
COMPARATIVE FIGURES
have been rounded off to the nearest rupee.
have been re-arranged and / or reclassified, wherever considered necessary. However, no significant reclassification has been made in these financial statements.
Lahore: Dated October 29, 2025 Director Director Chief Financial Officer