Image Pakistan Limited
October 29, 2025
The General Manager, Pakistan Stock Exchange Ltd., Stock Exchange Building, Karachi.
Dear Sir,
Subject: Financial Results for the Quarter ended 30.09.2025
We have to inform you that the Board ofDirectors of our Company in their meeting held on 29th October, 2025 at Karachi, recommended the following:
Cash dividend/Bonus/Rights/Any other entitlement: Nil
The required Statement of Financial Position, Statement of Profit & Loss, Statement of Changes in Equity & Statement of Cash Flows are attached.
The quarterly report of the Company for the quarter ended 30.09.2025 will be transmitted through PUCARS separately, within specified time.
You may inform the TREC holders accordingly.
Thanking you.
Yours truly,
IMAGES PAKISTAN LTD.
ompany Secretary
Phone: 021-32582613, 021-34370471 Plant: F/538, S.I.T.E, Karachi-75700
E-mail: info@image.net.pk Head Office: A/33, Central Commercial Area,
Block 7/8, Main Shahrah-e-Faisal, Karachi -75350
IMAGE PAKISTAN LIMITED
CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2025
September 30,
2025
- RupeeS ---
June 30,
2025
ASSETS | ||||
NON-CURRENT ASSETS Property, plant and equipment | 1,870,31 0,437 | 1,905,965,364 | ||
Intangibles | 47,010,321 | 49,627,751 | ||
Right-of-use assets | 744,662,658 | 619,644,917 | ||
Long term deposits Goodwill | 44,434,971 4, J65,253 | 4Z,434,971 4,065,333 | ||
CURRENT ASSETS | ||||
Stock-in-trade | 2,496,998,61 4 | 2,601,354,007 | ||
Trade debtors - unsecured | 994,690,540 | 1,192,059,733 | ||
Advances | 761,568,809 | 605,240,834 | ||
Prepayments and other receivables | 9,325,892 | 6,416,658 | ||
Cash and bank balances | 339,756,724 | 97,059,779 | ||
4,602,340,579 | 4,502,131,01 1 | |||
7,312,924,219 | 7,123,869,347 | |||
EQUITY AND LIABILITIES | ||||
CAPITAL & RESERVES | ||||
Authorized capital 500,000,000 (June 2025: 500,000,000) ordinary shares of Rs. 10/- each | S,00.0..,.0..00,0. 00 | |||
Issued, subscribed and paid-up capital | 2,303,696.SOO | 2,303,696,500 | ||
Share premium | 80,979,590 | 80,979,590 | ||
Surplus on revaluation of property, plant and equipment | 709,952,553 | 717,123,092 | ||
Revenue reserves | 1,425,287,726 | 1,176,798,665 | ||
Shareholders' equity | 4,519,916,369 | 4,278,597,847 | ||
Non-controlling interest | 357,277 | 306,212 | ||
Total equity | 4,520,273,646 | 4,278,904,059 | ||
NON-CURRENT1IABILITIES | ||||
Long term loan from associates and related parties | 330,788, 1 18 | 270, 178, 121 | ||
Diminishing Musharika financing facility | 266, 184,21 9 | 297,409,368 | ||
Lease liabilities | 625,824,370 | 518,779,697 | ||
Deferred liabilities | ||||
Deferred tax liability - net | 1 22,390, 156 | 122,966,482 | ||
Staff gratuity - unfunded | 25,336,200 | 27,129,538 | ||
CURRENT LIABILITIES | J 47,726,356 | 150,096,020 | ||
Trade and other payables | 916,487,428 | 1,104,505,617 | ||
Markup payable | 48,223,260 | 45,603,599 | ||
Current maturity of Diminishing Musharika financing facility | 65,797,383 | 42,321, 197 | ||
Current maturity of lease liabilities | 211,458,951 | 178,083,395 | ||
Unclaimed dividend | 15,516,043 | 15,516,043 | ||
Unpaid dividend | 22,204,303 | 84,049,321 | ||
Income tax payable - net | 142,440,142 | 138,422,910 | ||
1,422,127,510 | 1,608,502,082 | |||
Contingencies and commitments '*sT4
7,312,924,219 7,123,869/347
IMAGE PAKISTAN LIMITED
CONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025
First quarter ended
July to September July to September 2025 2024
-- Rupees -- | --- | ||
Revenue | 1,012,918,690 | 951,160,267 | |
Cost of sales | (507,857,408) | (432,968,761) | |
Gross profit | 505,061,282 | 518,191,506 | |
Distribution and selling expenses | (137,437,182) | (140,949,969) | |
Administrative expenses | (65,328,344) | (74,278,007) | |
(202,765,526) | (215,227,976) | ||
Other income / (loss) | 483,373 | 1,913,636 | |
Operating profit | 302,779,129 | 304,877,166 | |
Finance cost | (49,975,777) | (18,028,577) | |
Profit before taxation | 252,803,352 | 286,848,589 | |
Taxation | (10,486,538) | (12,876,261) | |
Profit after taxation | 242,316,814 | 273,972,328 | |
Attributable to | |||
Equity holders of the Holding Company | 242,265,749 | 273,914,592 | |
Non-controlling interest | 51,065 | 57,736 | |
242,316,814 | 273,972,328 | ||
Earning per share - basic & diluted | 1.05 | 1.19 |
IMAGE PAKISTAN LIMITED
Reserves
Capital reserves
Revenue reserves
Issued, subscribed and Share premium paid-up capital | SurpTuson RevauaGonof Unappropriated eroperty,elant profit andEqupment | Foreign Exchange Translation Reserve | Non-Controlling Interest | Total equity |
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025
- | - | - | Rupees | |||||
Balance as on June 30, 2024 | 2,303,696,500 | 80,979, 590 | 731,021,728 | 632,843,192 | 1,067,534 | J85,229 | 3,749,793,773 | |
Profit after taxation | 273,9 44,592 | 57,736 | 273,972,328 | |||||
Other comprehensive income | (2,740,898) | (2,740,898 | ||||||
Total comprehensive income for the period | 273,914,592 | (2,740,898) | 57,736 | 271,231,430 | ||||
Transfer to statement of profit or loss on account of | (3,567,056) | 3,567,056 | ||||||
incremental depreciation (net of tax) | ||||||||
Balance as on September 30, 2024 | Z,303,696,500 | 80,979,590 | 727,454,672 | 910,324,840 | (1,673,364) | 242,965 | 4,021,025,203 | |
Balance as on June 30, 2025 | 2,303,696,500 | 80,979,590 | 717,123,092 | 1,175.046,618 | 1,752,047 | 306,212 | 4,278,904,059 | |
Profit after taxation | 242,265,749 | 51,065 | 242,316,814 | |||||
Other comprehensive income | (947,227) | (947,227) | ||||||
Total comprehensive income for the period | 242,265,749 | (947,227) | 51,065 | 241,369,587 | ||||
Transfer to statement of profit or loss on account of incremental depreciation (net of tax) | - | (7,170,539) | 7,170,539 | |||||
Balance as on September 30, 2025 | 2,303.696,500 | 80,979,590 | 709,952,553 | 1,424,482,906 | 804,820 | 357.277 | 4,520,273,646 | |
IMAGE PAKISTAN LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025
July to September July to September
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxation
Adjustment for non-cash and other items: Depreciation on:
property, plant and equipment
intangibles
right-of-use assets
Provision for gratuity - net of payments Finance Cost
Working capital changes
(Increase) / decrease in current assets
Stock-in-trade Trade debtors Advances
Prepayments and other receivables
Increase in Current Liabilities
Trade and Other Payables
Cash generated from operations
Income tax paid Finance cost paid
Exchange loss on equity investments Long term deposits - net
Net cash 9eneruted /rom oReratinp activities
CASH FLOW FROM INVESTING ACTIVITIES
Addition to property, plant and equipment Investment in subsidiary
Net Cash used in investing activities
CASH FLOW FROM FINANCING ACTIVITIES
Dividend paid
Repayment of long term Diminishing Musharika finance facility Repayment of principal portion of lease liabilities
Loan from associated and related parties - net
Net Cash Inftan from Financing Activities
Net increase in cash and cash equivalents Cash and cash equivalents at the beginning Cash and cash equivalents at the end
252,803,352
49,731,171
Z,617,431 63,535,161
(1,793,338)
49,975,777
164,066,202
416,869,554
104,355,393
197,369,193
(156,327,975)
(2,909,234)
142,487,377
(188,018,189)
371,338,742
(7,045,633)
(18,061,547)(947,227)
(2,000,000)
343,284,335
(14,076,244)
(99,920)
(61,845,018)
(7,748,963)
(77,427,242)
60,609,997
(86,411,226)
242,696,945
97,059,779
339,756,724
286,848,589
27,365,289
(652,666)
18,028,577
44,741,200
331,589,789
(16,931,703)
(137,963,1 02)
(46,907,432)
1,671,749
(200,130,488)
(1 12,625,051)
18,834,250
(5,319,374)
(21,408,216)
(2,740,898)
1,755,000
(8,879,238)
(97,099,597)
(97,099,597)
(32,900)
25,058,848
24,241,468
49,267,416
(56,711,419)
125,731,929
69,020,510
IMAGE PAKISTAN LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2025ASSETS | September 30, 2025 - Rupees - | June 30, 2025 | ||
NON-CURRENT ASSETS Property, plant and equipment | 1,870,310,437 | 1,905,965,364 | ||
lntangibles | 47,01 0,321 | 49,627,751 | ||
Right-of-use assets | 684,735,685 | 554,270,037 | ||
Long term deposits | 43,434,971 | 41,434,971 | ||
Long term investments | 26,208,509 | 26,108,589 | ||
CURRENT ASSETS | ||||
Stock-in-trade | 2,479,972,584 | 2,580,229,407 | ||
Trade debtors - unsecured | 829,142,980 | 997,621,477 | ||
Advances | 297,566,320 | 163,634,799 | ||
Prepayments and other receivables | 9,325,892 | 6,416,658 | ||
Cash and bank balances | 227,876,81 J | 89,889,620 | ||
3,843,884,587 | 3,837,791,961 | |||
6,515,584,51 0 | 6,415,198,673 | |||
EQUITY AND LIABILITIES | ||||
CAPITAL & RESERVES | ||||
eAnudtho i c ita 500,000,000 (June 2025: 500,000,000) ordinary shares of Rs. 10/- each | 5000,000,000 | 5,000,000,000 | ||
Issued, subscribed and paid-up capital | 2,303,696,500 | 2,303,696,500 | ||
Share premium | 80,979,590 | 80,979,590 | ||
Surplus on revaluation of property, plant and equipment | 709,952,553 | 717,123,092 | ||
Revenue reserves | 847,558,117 | 698,962,879 | ||
Shareholders' equity | 3,942,186,760 | 3,800,762,061 | ||
NON-CURRENT LIABILITIES | ||||
Long term loan from associates and related parties | 305,269,997 | 255,010,000 | ||
Diminishing sharika financing facility | 266, 184,219 | 297,409,368 | ||
Lease liabilities | 573,448,1 J1 | 460,682,077 | ||
Deferred liabilities | ||||
Deferred tax liability - net | 122,390, 1 56 | 1 22,966,482 | ||
Staff gratuity - unfunded | 25,336,200 | 27,129,538 | ||
CURRENT LIABILITIES | 147,726,356 | 1S0,096,020 | ||
Trade and other payables | 794,044,439 | 967,037,232 | ||
Markup payable | 48,223,260 | 45,603,599 | ||
Current maturity of Diminishing Musharika financing facility | 65,797,383 | 42,321,197 | ||
Current maturity of lease liabilities | 190,317,782 | 158,288,845 | ||
Unclaimed dividend | 15,516,043 | 15,516,043 | ||
Unpaid dividend | 22,204,303 | 84,049,321 | ||
Income tax payable - net | 144,665,857 | 138,422,910 | ||
1,280,769,067 | 1,451,239,147 | |||
Contingencies and commitments | ||||
6,515,584,51 0 | 6,415,198,673 | |||
IMAGE PAKISTAN LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025
First quarter ended
July to September July to September 2025 2024
- Rupees -------=-=--
Revenue | 778,559,288 | 652,518,845 | |
Cost of sales | (407,878,468) | (293,841,695) | |
Gross profit | 370,680,820 | 358,677,150 | |
Distribution and selling expenses | (124,463,258) | (120,459,856) | |
Administrative expenses | (50,098,350) | (54,096,946) | |
(174,561,608) | (174,556,802) | ||
Other income | 483,150 | 1,815,977 | |
Operating profit | 196,602,362 | 185,936,325 | |
Finance cost | (46,021,998) | (16,338,235) | |
Profit before taxation | 150,580,364 | 169,598,090 | |
Taxation | (9,155,665) | (10,787,789) | |
Profit after taxation | 141,424,699 | 158,810,301 | |
Earning per share - basic & diluted | 0.61 | 0.69 |
IMAGE PAKISTAN LIMITED
Reserves Capital reserves
Revenue reserves
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025
Issued, subscribed and paid-up capital | Share premium | Surplus on Revaluation of Unappropriated Property, Plant profit and Equipment | Total equity |
Balance as on June 30, 2024
2,303,696,500
- Rupees --------------
80,979,590 731,021,728
405,094,254 3,520,792,072
158,810,301 158,810,301
Profit after taxation
Other comprehensive income
Total comprehensive income for the period
Transfer to statement of profit or loss on account of incremental depreciation (net of tax)
(3,567,056)
158,810,301
3,567,056
158,810,301
Balance as on September 30, 2024 | 2,303,696,500 | 80,979,590 | 727,454,672 | 567,471,611 | 3,679.602,373 |
Balance as on June 30, 2025 | 2,303,696,500 | 80,979,590 | 7J 7,123,092 | 698,962,879 | 3,800,762,061 |
Profit after taxation Other comprehensive income | 141,424,699 | 141,424,699 | |||
Total comprehensive income for the period | 141,424,699 | 141,424,699 |
Transfe to statement of profit or loss on account of incremental depreciation (net of tax) | (7,170,539) | 7,I 70,539 | |||
Balance as on September 30, 2025 | 2,303,696,500 | 80,979,590 | 709,952,553 | 847,558,117 | 3,942, 186,760 |
IMAGE PAKISTAN LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CASH FLOWS FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025
July to September July to September
CASH FLOW FROM OPERATING ACTIVITIES
2025 2024---- Pupees -------
Profit before taxation
Adjustment for non-cash and other items: Depreciation on:
property, plant and equipment
intangibles
right-of-use assets
Provision for gratuity - net of payments Finance cost
Working capital changes
(Increase) ,/'decrease in current assets
Stock-in-trade Trade debtors Advances
Prepayments and other receivables
Increase in Current Liabilities
Trade and other payables
Cash generated from operations
Income tax paid Finance cost paid
Long term deposits - net
Net cash generated from operating activities
CASH FLOW FROM INVESTING ACTIVITIES
Addition to property, plant and equipment and intangibles Investment in subsidiary
Net Cash used in investing activities
CASH FLOW FROM FINANCING ACTIVITIES
Dividend paid
Long term Diminishing Musharika finance facility - net Repayment of principal portion of lease liabilities Receipt of loan from associated and related parties - net Net Cash Inf! f •m Financing Activities
Net increase in cash and cash equivalents Cash and cash equivalents at the beginning Cash and cash equivalents at the end
150,580,364
49,731,171
2,617,43058,087,254
(1,793,338)
46,021,998
154,664,515
100,256,823
168,478,497
(133,931,521)
(2,909,234)
305,244,879
131,894,565
(172,992,793)
264,146,651
(3,489,044)
(16,600,146)
(2,000,000)
242,057,461
(14,076,244)
(99,920)
(14,176,164)
(61,845,018)
(7,748,963)
(70,560,122)
50,259,997
(89,894,106)
137,987,191
89,889,620
227,876,811
169,598,090
27,365,289
(652,666)
16,338,235
43,050,858
212,648,948
(17,359,955)
6,895,587
(68,426,958)
1,671,749
(77,219,577)
(91,892,470)
43,536,901
(4,792,271)
(19,717,874)
1,755,000
20,781,756
(97,099,597)
(97,099,597)
(32,900)
25,058,848
7,954,126
32,980,074
(43,337,767)
111,568,239
68,230,472