Imperial LimitedPSX: IML

Half Yearly Accounts December 31st, 2024 (Un-Audited)

Dec 22, 2025 at 8:42 AM UTC · Issued by Imperial Limited

‌COHDENSED INTERIM

FIHAN iw INFORMATION

FOR THE FIRST QUARTER ENDED

(SEPTEMBER )0, 2025)

(IN-AUDITED)

IhtPERIAL LIhtITED

‌CONTENTS

Corporate Information

Directors' Report

Condensed Interim Statement of Financial Position

Condensed Interim Statement of Profit or Loss

Condensed Interim Statement of Comprehensive Income

Condensed Interim Statement of Cash Flows

Condensed Interim Statement of Changes in Equity

Notes to the Condensed Interim Financial Statements

‌Corporate Information

Board of Directors

Mr. Waqar Ibn Zahoor Bandey Mr. Naveed M. Sheikh

Mr. Muhammad Tariq

Mr. Ibrahim Naveed Sheikh Mr. Shahzad Ullah Khan Mr. Najam Faiz

Mrs. Fakhra Chaudhry

Chairman
Director/CEO
Director
Director
Director
Director
Director
Audit Committee Mr. Shahzad Ullah Khan Mr. Najam Faiz
Mr. Muhammad Tariq Mrs. Fakhra Chaudhry
Chairman
Member
Member
Member
HR & Remuneration
Mr. Najam Faiz
Chairman
Committee Mr. Ibrahim Naveed Sheikh Mr. Muhammad Tariq
Chief Financial Officer Mr. Abdul Qadir
Member
Member

Head of Internal Audit Company Secretary Financial Institutions

Mr. Mohsin Meraj Mr. Falraz Anwer

Soneri Bank Limited The Bank of Khyber Habib Bank Limited

HBL Microfinance Bank Limited U Microfinance Bank Limited

Auditors Rizwan & Company Chartered Accountants

Legal Advisors Mrs. Aniqua Sheikh Advocate

Registered Office Ismail Aiwan-e-Science Building, 205 Ferozepur Road Lahore-54600

Ph # + 92 (042) 3575-8970

+ 92 (042) 3575-1308

Fax # + 92 (042) 3576-3247

Shares Registrar

Production Facilities

Hameed Majeed Associates (Pvt) Limited

H.M. House, 7-Bank Square, Lahore. Ph # + 92 (042) 3723-5081-2

Fax # + 92 (042) 3735-8817

Hydroponic Project Village Shori Manika

Tehsil Pindi Bhattian, District Hafizabad

Assets Classified held for Sale Karmanwala, Tehsil Phalia Distt. Mandi Bahauddin

Ph # + 92 (546) 541-151/54

Fax # + 92 (546) 541-162

‌Directors' Review to the Members For the First Quarter Ended September 30, 2025

Dear Members,

The unaudited interim financial statements for the first quarter ended September 30, 2025, are presented in compliance with the International Accounting Standards (IAS), the Companies Act, 2017, and the Rule Book of the Pakistan Stock Exchange Limited.

Financial Performance

During the period under review, the Company reported revenue of Rs. 54.286 million, compared to Rs.

73.048 million in the corresponding period last year. The decline in revenue is primarily attributed to the reduction in the markup rate by the State Bank of Pakistan.

The operating profit, after accounting for administrative and other expenses, stood at Rs66.865 million, compared to Rs. 25.225 million in the same period last year.

The net profit for the quarter amounted to Rs. 56.939 million, compared to Rs. 14.699 million in the corresponding period of the previous year. Earnings per share (EPS) for the quarter stood at Rs. 0.15 per share, compared to Rs. 0.58 per share in the same period last year.

Strategic Business Developments

The Company is currently in the process of divesting its remaining assets, including a composite sugar manufacturing facility located in Phalia, District Mandi Bahauddin. This decision is in line with the resolution passed by the Shareholders in the 19th Annual General Meeting of the Company.

Proceeds from the sale of these assets will be strategically allocated alongside the Company's existing funds in accordance with its Object Clause and the business activities permitted under its Memorandum of Association.

Future Outlook

The Board remains committed to maximizing shareholder value by focusing on prudent financial management and strategic capital deployment. The Company will continue to explore growth opportunities that align with its long-term vision and corporate objectives.

Acknowledgment

The Board of Directors expresses its gratitude to the shareholders, customers, employees, and regulatory authorities for their continued support and confidence in the Company.

For and on behalf of the Board

Waqar Ibn Zahoor Bandey

Chairman

Naveed Mughis. Sheikh

Chief Executive Officer

Lahore Saturday, November 29, 2025 ‌CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UN-AUDITED)

AS AT SEPTEMBER 30, 2025

	Note	September 30, 2025 Un-Audited (Rupees in '000')	June 30, 2025 Audited (Rupees in '000')
ASSETS Non-Current Assets
Property, plant and equipment	5	904,121	905,844
Current Assets
Stores, spares and loose tools		4,177	3,243
Stock in Trade	6	789,593	778,098
Loan and advances		161,844	152,287
Trade deposits, prepayments and other receivables		19,226	17,898
Accrued mark-up		862	8,846
Short-term investments	7	1,704,878	1,605,331
Tax refunds due from government		268,243	259,195
Cash and bank balances	8	46,232	191,829
		2,995,055	3,016,727
Non-current assets held for sale	9	8,849,931	8,849,931
		12,749,107	12,772,502
EQUITY AND LIABILITIES Share Capital And Reserves Authorized Share Capital 100,000,000 (2024: 100,000,000) Ordinary Shares of Rs. 10 each		1,000,000	1,000,000

Issued, Subscribed and Paid-up Capital	10	990,200	990,200
Surplus on revaluation of property, plant and equipment	11	5,528,996	5,528,996
Revenue Reserves - unappropriated profit		3,921,073	3,864,134
Non-Current Liabilities		10,440,269	10,383,330
Deferred Liabilities	12	1,919,238	1,919,406
Current Liabilities
Trade and other payables	13	389,601	469,767
Contingencies and commitments	14
		12,749,107	12,772,502

The annexed notes from 1 to 22 form an integral part of these Condensed Interim Financial Statements.

‌CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED)

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025

	Note	September 30, 2025 Un-Audited 2025 (Rupees in '000')	September 30, 2024 Un-Audited 2024 (Rupees in '000')
Profit or Loss - continuing operations
Revenue	15	54,286	73,048
Gross profit		54,286	73,048
Administrative expenses		(37,986)	(47,823)
Other operating expenses		(136)	-
Other operating income	16	50,700	-
		12,579	(47,823)
Profit from Operations		66,865	25,225
Finance cost		(37)	(48)
Profit before Taxation		66,828	25,177
Taxation		(2,979)	(4,187)
Profit after Taxation - continuing operations		63,849	20,990
Profit / (Loss) after Taxation - discontinued operations	17	(6,909)	(6,291)
Profit after Taxation		56,939	14,699
Earnings per Share - basic and diluted		0.58	0.15

The annexed notes from 1 to 22 form an integral part of these Condensed Interim Financial Statements.

‌CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED)

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025

	Note	September 30, 2025 Un-Audited (Rupees in '000')	September 30, 2024 Un-Audited (Rupees in '000')
Cash flows from operating activities
Profit before taxation and levy		56,939	25,177
Adjustments for:
Finance cost		37	48
Income tax expenses		2,979	-
Provision for staff retirement benefits - gratuity		13,182	4,038
Loss on non-current assets held for sale		3,986	-
Depreciation of property, plant and equipment		3,145	13,988
		23,329	18,074
Operating profit before working capital changes		80,268	43,251
Working capital Changes
Stores, spares and loose tools		(934)	-
Stock in Trade		(11,495)	11,535
Loan and advances		(9,557)	(13,295)
Accrued mark-up		7,985	8,429
Trade deposits, prepayments and other receivables		(1,329)	(9,748)
Trade and other payables		(80,166)	11,105
		(95,495)	8,026
Cash generated from operations		(15,227)	51,277
Finance cost paid		(37)	(48)
Staff retirement benefits - gratuity paid		(192)	(141)
Income tax paid		(29,171)	(14,976)
		(29,400)	(15,165)
Net cash generated from operating activities - continuing operations		(44,627)	36,112
Net cash used in operating activities - discontinued operations	18.1	-	-
Cash flows from investing activities
Capital expenditure on property, plant and equipment		(302)	(111)
Capital work in process	5.1	(1,120)	(18,600)
Short-term investments		(99,547)	(137,871)
Net cash used in investing activities-continuing operations		(100,970)	(156,582)
Net cash generated from investing activities - discontinued operations	18.2	-	(6,291)
Cash flows from financing activities
Net cash generated from financing activities - continuing operations		-	-
Net cash generated from financing activities - discontinued operations	18.3	-	-
Net decrease in cash and cash equivalents		(145,597)	(126,761)
Cash and cash equivalents at the beginning of the period		191,829	195,019
Cash and cash equivalents at the end of the period		46,232	68,258

The annexed notes from 1 to 22 form an integral part of these Condensed Interim Financial Statements.

‌CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025

Reserves

Capital Revenue

Share Capital

Revaluation Surplus

Unappropriated

Profit Total

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

Balance as at July 01, 2024 (Audited) 990,200 5,528,996 3,819,913 10,339,109

Profit for the period - - 14,699 14,699 Other comprehensive income - - - -

Total comprehensive income	-	-	14,699	14,699
Balance as at September 30, 2024 (Un-Audited)	990,200	5,528,996	3,834,612	10,353,808
Balance as at July 1, 2025 (Audited)	990,200	5,528,996	3,864,134	10,383,330
Profit for the period		-	56,939	56,939

Other comprehensive income - - - -

- - 56,939 56,939

Balance as at September 30, 2025 (Un-Audited) 990,200 5,528,996 3,921,073 10,440,269

The annexed notes from 1 to 22 form an integral part of these Condensed Interim Financial Statements.

Chief Executive Officer Director Chief 6inonc/o/ Officer

‌Reporting entity
Imperial Limited ("the Company") was incorporated in Pakistan on May 09, 2007 under the Companies Ordinance, 1984 (Now Companies Act, 2017). The shares of the Company are quoted on Pakistan Stock Exchange Limited. The Company's registered office is situated at Ismail Aiwan-e-Science building 205, Ferozepur road, Lahore.
The principle line of business is to carry on the business of buying, selling, holding or otherwise acquiring or investing the capital of the Company in any sort of financial instruments but not to act as an investment / brokerage company.
Previously, the Company in its Annual General Meeting resolved to dispose of its land, building and plant and machinery related to sugar and distillery sector. Whole of the land, building and plant and machinery located at Mian Channu was disposed of in August 21, 2017, whereas assets and ethanol manufacturing facilities located at Tehsil Phalia, District Mandi Bahaudin are held for sale.
Basis of preparation 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 comprised of:
International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 2017 ; and

Provisions of and directives issued under the Companies Act, 2017.

Where the provisions of and directives issued under the Companies Act, 2017 differ with the requirements of IAS 34, the provisions of and directives issued under the Companies Act, 2017 have been followed.
This condensed interim financial information is being submitted to the shareholders as required by the listing regulations of Pakistan Stock Exchange Limited and section 237 of the Companies Act, 2017.
This condensed interim financial information does not include all of the information and disclosures required for full annual financial statements, and should be read in conjunction with the financial statements of the Company for the year ended June 30, 2025.
Comparative condensed interim balance sheet is extracted from annual audited financial statements for the year ended June 30, 2025 and comparative condensed interim profit and loss account, condensed interim statement of comprehensive income, condensed interim statement of changes in equity and condensed interim cash flow statement are stated from un-audited condensed interim financial information for the period ended September 30, 2024.
Use of estimates and judgements
The preparation of this condensed interim financial information in conformity with approved accounting standards requires management to make estimates, assumptions and use judgments that affect the application of policies and the reported amounts of assets and liabilities and income and expenses. Estimates, assumptions and judgments are continually evaluated and are based on historical experience and other factors, including reasonable expectations of future events. Revisions to accounting estimates are recognized prospectively commencing from the period of revision.
In preparing this condensed interim financial information, the significant judgments made by management in applying the Company's accounting policies and the key sources of estimation and uncertainty were the same as those applied to the financial statements as at and for the year ended June 30, 2025.
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.
Material Accounting Policy Information
The accounting policies and method / basis of computation which have been used in the preparation of this condensed interim financial information are the same as those applied in the preparation of the financial statements for the preceding year ended June 30, 2025.
1. ‌Changes In Accounting Standards, Interpretation And Pronouncement
  There is no significant impact of new standards and amendments to standards, including any consequential amendments to other standards, with a date of initial application of July 01, 2019 as mentioned in the financial statements for the year ended June 30, 2025.
2. Functional and presentation currency

The condensed interim financial information is presented in Pak Rupees, which is the Company's functional and presentation currency.

Note September 30, 2025 June 30, 2025

Un-Audited Audited

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

5 Property, plant and equipment	5.1	754,266	753,146
Capital work in process	5.2	149,854		152,698
Operating fixed assets - owned		904,121		905,844

5.1 This represents the expenditure on capital work in process incurred for the construction of building at Pindi Bhattia Site and installation of greenhouses imported from China.

5.2 Operating fixed assets	152,698	238,661
Opening book value	302	(5,164)
Additions / (adjustment) during the period / year	153,000	233,497
Less: Depreciation charge for the period / year	(3,145)	(80,799)
Closing book value	149,855	152,698
6 Stock in Trade
Land held for construction / sale	400,000	398,853
Houses under construction	198,966	190,102
Finished Houses	190,627	189,143
	789,593	778,098
7 Short-term Investments
Investments in Mutual Funds	3,432	3,402
Investments in Term Deposit Receipts	1,701,446	1,601,929
	1,704,878	1,605,331
8 Cash and bank balances
Cash in hand	212	1,447
Cash with banks:
Current accounts	1,375	1,614
Saving accounts	44,645	188,768
	46,020	190,382
	46,232	191,829

	‌Note	September 30, 2025	June 30, 2025
		Un-Audited	Audited
		(Rupees in '000')	(Rupees in '000')
9 Non-current assets held for sale
Opening balance	9.1	8,720,906	8,720,906
Transferred from operating fixed assets		129,025	129,025
Current assets held for sale			-
Less: Impairment charged during the period		-	-
Closing balance		8,849,931	8,849,931
9.1 Freehold land		1,106,448	1,106,448
Building on freehold land		2,478,950	2,478,950
Plant and machinery		5,118,217	5,118,217
Furniture, fixture and equipment		17,291	17,291
		8,720,906	8,720,906
10 Issued, Subscribed and Paid-up Capital
64,020,000 (2025: 64,020,000) Ordinary Shares of Rupees 10/- each
fully paid in cash		640,200	640,200
35,000,000 (2025: 35,000,000) Ordinary Shares of Rupees 10/- each
fully paid for consideration other than cash		350,000	350,000
		990,200	990,200
11 Surplus on Revaluation of Property, Plant and Equipment - Net of Tax
Opening Balance		7,330,115	7,330,115
Add: Surplus incorporated during the year		-	-
Less: Incremental depreciation transferred to statement of changes in equity		-	-
Less: Surplus transferred to statement of changes in equity on disposal of assets		-	-
		7,330,115	7,330,115
Less: Related deferred tax liability		(1,801,119)	(1,801,119)
Closing Balance		5,528,996	5,528,996
12 Deferred liabilities
Deferred taxation		1,873,067	1,873,067
Staff retirement benefits		46,171	46,339
		1,919,238	1,919,406

Trade and other payables
This mainly include advance from customers and trade creditors of the Company.
Contingencies and commitments

There is no material change in contingencies from the audited financial statements of the Company for the year ended June 30, 2025.

	‌Note	September 30, 2025	June 30, 2025
		Un-Audited	Audited
		(Rupees in '000')	(Rupees in '000')
15 Revenue
Income from investment		54,286	73,048
Income from Sale of Ivory Home		-	-
		54,286	73,048
16 Other operating income
Creditores written off	16.1	50,700
		50,700	-

16.1 During the quarter, the Company reviewed long-outstanding payables. These were written back as no further obligation payables. exits. The write-back has been recognized as other income in the statement of the profit or loss in accordance with the requirements of IAS 37-Provisions, Contingent Liabilities and Contingent Assets, as the Company no longer has a present obligation in respect of these payables.

17 Profit or loss - discontinued operations
Sales - net	-	-
Cost of sales	-	-
Gross profit	-	-
Operating expenses
Administrative expenses	-	-
Inoperative plant expenses	6,909	6,291
	(6,909)	(6,291)
Other operating expenses	-	-
Other operating income	-	-
Loss from operations	(6,909)	(6,291)
Finance cost	-	-
Loss before taxation	(6,909)	(6,291)
Taxation	-	-
Loss after taxation - discontinued operations	(6,909)	(6,291)
18 Cash flows from discontinued operations
18.1 Cash flows from operating activities - discontinued operations
Profit/(loss) before taxation Adjustments	- -	(6,291) -
Operating loss before working capital changes	-	(6,291)
Working capital changes	-	-
Net cash used in operating activities	-	(6,291)
18.2 Cash flows from investing activities - discontinued operations	-	-
18.3 Cash flows from financing activities - discontinued operations	-	-
Net decrease in cash and cash equivalents	-	(6,291)

Financial Risk Management
The Company's financial risk management objective and policies are consistent with that disclosed in the annual financial statements of the Company for the year ended June 30, 2025.
General
1. Figures in this condensed interim financial statements have been rounded off to the nearest thousand Rupee.
2. ‌Corresponding Figures
  Corresponding figures have been rearranged and reclassified, wherever necessary, for the purpose of comparison and for better presentation.
Date of authorization
This un-audited condensed interim financial statements have been authorized for issue on November 29, 2025 by the Board
Events after statement of financial position date

There are no material subsequent events occurred after the statement of financial position date.

‌

‌Ismail Aiwan-e-Science Building 205-Ferozpur Road

Lahore - 54600 Pakistan

Tel: +92 (42) 3575-8970, 3575 1308

Fax: +92 (42) 3576 3247

IuPSRIAi LIMITED E-mail:info@imperiallimited.co

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