Financial Results for the Third Quarter Ended 31 March 2026

Revenue from contracts with customers

11

30,429,197

26,063,188

10,971,134

9,813,224

Cost of sales

(24,650,604)

(22,440,270)

(8,811,790)

(8,404,372)

Gross profit

5,778,593

3,622,918

2,159,344

1,408,852

Selling and distribution expenses

(486,469)

(538,918)

(151,642)

(221,027)

Administrative expenses

(620,184)

(518,209)

(220,401)

(160,305)

Reversal of loss allowance

on trade debts

(33,081)

18,242

-

-

Other operating income / (expenses)

(246,004)

(68,020)

(123,960)

(63,867)

(1,385,738)

(1,106,905)

(496,003)

(445,199)

Other income

248,979

250,441

84,618

88,151

Operating profit

4,641,834

2,766,454

1,747,959

1,051,804

Finance costs

(1,437,572)

(1,660,328)

(443,701)

(506,941)

Profit before levies and income tax

3,204,262

1,106,126

1,304,258

544,863

Levies

-

-

-

-

Profit before income tax

3,204,262

1,106,126

1,304,258

544,863

Income tax expense

12

- Current

(590,916)

(176,313)

(273,010)

(133,706)

- Deferred

(249,825)

(181,275)

(134,551)

(39,535)

(840,741)

(357,588)

(407,561)

(173,241)

2,363,521

748,538

896,697

371,622

Profit attributable to:

- Owners of holding company

2,573,765

1,091,341

959,989

456,285

- Non-controlling interest (NCI)

(210,244)

(342,803)

(63,292)

(84,664)

2,363,521

748,538

896,697

371,621

Earnings per share

- basic & diluted

3.50

1.48

1.31

0.65

INTERNATIONAL PACKAGING FILMS LIMITED

CONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED)

FOR THE NINE MONTHS ENDED MARCH 31, 2026

Nine Months ended

Quarter ended

March 31,

March 31,

March 31,

March 31,

2026

2025

2026

2025

(Restated)

(Restated)

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

Other comprehensive income

Foreign operations - Foreign currency translation difference

Total comprehensive income attributable to:

- Owners of holding company

- Non-controlling interest (NCI)

2,575,384

1,091,341

961,608

456,285

(210,244)

(342,803)

(63,292)

(84,664)

2,365,140

748,538

898,316

371,621

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT MARCH 31, 2026 (UN-AUDITED)

ASSETS

NON-CURRENT ASSETS

Property, plant and equipment

Right-of-use assets

Intangible assets

Long-term loans

Long-term deposits

CURRENT ASSETS

Stores, spares and consumables

Stock-in-trade

Trade receivables

Loans and advances

Trade deposits and short-term prepayments

Other receivables

Taxation - net

Sales tax refundable

Short-term Investment

Cash and bank balances

TOTAL ASSETS

EQUITY AND LIABILITIES

SHARE CAPITAL AND RESERVES

Share capital

Issued, subscribed and paid-up capital

Capital reserves

Share premium

Reserve for investment in subsidiaries

Revaluation surplus on property, plant and equipment

Revenue reserves

Unappropriated profit

Exchange translation reserves

TOTAL SHAREHOLDERS' EQUITY

Non-controlling interest

LIABILITIES

NON-CURRENT LIABILITIES

Long-term financing - secured

Deferred income - government grant

Deferred taxation - net

Staff retirement benefits

(Un-audited)

(Audited)

March 31,

June

2026

2025

(Rupees in '000)

5

26,730,691

1,147

52,007

22,564

125,915

26,932,324

721,008 541,578

4,720,794 5,137,931

9,227,289 7,761,859

835,581 841,890

161,933 82,032

456,472 288,752

319,075 213,477

584,413 694,242

72,000 -

1,142,586 770,968

18,241,151 16,332,729

45,173,475 43,624,373

2,120,622

3,259,000

-

3,324,305

1,170,660

2,240

621

16,058,267

13,903,003

2,499,871 2,568,515

18,558,138

16,471,518

7

4,137,948

540,456

3,183,446

341,750

8,203,600

CURRENT LIABILITIES

Trade and other payables

Contract liabilities

Dividend Payable

Short-term borrowings - secured

Current portion of long-term financing - secured

Current portion of deferred income - government grant

Current portion of lease liabilities

8

7,529,934 8,009,135

469,068 374,186

1,703 -

9

9,365,608 9,384,868

7

916,650 1,276,893

126,631 126,631

2,143 10,846

18,411,737 19,182,559

10

26,615,337 27,152,855

45,173,475 43,624,373

TOTAL LIABILITIES

CONTINGENCIES AND COMMITMENTS

TOTAL EQUITY AND LIABILITIES

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

FOR THE NINE MONTHS ENDED MARCH 31, 2026

Balance as at July 01, 2024 - Restated as

disclosed in annual unconsolidated

financial statements for the year

ended June 30, 2025

7,002,000

Profit for the period after tax

-

Other comprehensive income for the period

-

Total comprehensive income for the period

-

-

-

-

-

-

-

748,538

-

748,538

-

-

-

(342,803)

-

(342,803)

405,735

-

405,735

Advance against future issuance of shares -

PETPAK Films (Private) Limited

- - - - 62,459 62,459

Balance as at March 31, 2025

7,002,000 2,470,722 3,259,000 715,616 245 2,563,103 16,010,686

Profit for the period after tax

-

-

-

2,573,765

-

(210,244)

2,363,521

Other comprehensive income for the period

-

-

-

-

1,619

-

1,619

Total comprehensive income for the period

-

-

-

2,573,765

1,619

(210,244)

2,365,140

Final cash dividend for the year ended June 30, 2025 at the rate of Rs. 0.6 per share

-

-

-

(420,120)

-

-

(420,120)

Bonus shares issued in the ratio of 5 bonus shares for every 100 shares held

350,100

(350,100)

-

-

-

-

-

Advance against issuance of shares -Petpak Films (Private) Limited

-

-

-

-

-

141,600

141,600

Balance as at March 31, 2026

7,352,100

2,120,622

3,259,000

3,324,305

2,240

2,499,871

18,558,138

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE NINE MONTHS ENDED MARCH 31, 2026 (UN-AUDITED)

Finance costs paid

Staff retirement benefits paid

Income tax and levies paid

Decrease in long term deposits

Decrease in long-term loans

(Restated)

(Un-audited)

(Un-audited)

March 31,

March 31,

2026

2025

(Rupees in '000)

13

3,828,904

(1,483,743) (1,651,565)

(18,196) (14,088)

(696,514) (533,767)

38 (11,595)

10,030 5,760

(2,188,385) (2,205,255)

1,640,519 (4,761,325)

CASH FLOWS FROM INVESTING ACTIVITIES

Payment for acquisition of property, plant and equipment

Payment for acquisition of intangible assets

Return on PLS savings accounts

Net cash used in investing activities

(611,236)

(3,271)

24,767

(589,740)

(312,017)

(7,477)

21,159

(298,335)

CASH FLOWS FROM FINANCING ACTIVITIES

Lease rentals paid

Dividend Paid

Receipt against issue of shares to non controlling interest

Receipt of short-term borrowings - net

Repayment of long-term financing

Net cash generated from financing activities

(9,180)

(418,417)

141,600

761,745

(350,172)

125,576

(4,019)

-

262,458

4,488,827

(420,819)

4,326,447

Net (decrease) / increase in cash and cash equivalents

1,176,355

(733,213)

Cash and cash equivalents at beginning of the year

(1,486,374)

24,977

Effects of exchange rate changes in cash and cash equivalents

1,619

426

Cash and cash equivalents at end of the year 14

(308,400)

(707,810)

Revenue from contracts with customers

11

9,939,711

10,203,367

3,867,026

4,079,714

Cost of sales

12

(7,696,770)

(8,431,906)

(2,943,841)

(3,235,223)

Gross profit

2,242,941

1,771,461

923,185

844,491

Selling and distribution expenses

(112,757)

(223,305)

(27,223)

(82,006)

Administrative expenses

(229,714)

(277,191)

(69,668)

(93,857)

(Charge) / reversal of loss allowance on trade debts

(21,571)

18,242

-

-

Other operating (expenses) / income

(98,730)

(18,750)

(51,477)

(31,305)

(462,772)

(501,004)

(148,368)

(207,168)

Other income

244,095

346,974

80,346

95,297

Operating profit

2,024,264

1,617,431

855,163

732,620

Finance cost

(657,277)

(1,056,258)

(207,169)

(318,082)

Profit before levies and income tax

1,366,987

561,173

647,994

414,538

Levies

-

-

-

-

Profit before income tax

1,366,987

561,173

647,994

414,538

Income tax expense

13

- Current

(593,078)

(233,794)

(272,488)

(133,706)

- Prior

2,162

57,481

(522)

-

- Deferred

33,627

38,653

11,729

31,884

(557,289)

(137,660)

(261,281)

(101,822)

Profit for the period after taxation

809,698

423,513

386,713

312,716

Earnings per share

- basic and diluted (Rupees) -

Restated

1.10

0.58

0.53

0.43

INTERNATIONAL PACKAGING FILMS LIMITED

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF

COMPREHENSIVE INCOME (UN-AUDITED)

FOR THE PERIOD ENDED MARCH 31, 2026

Nine months ended

Quarter ended

March 31,

March 31,

March 31,

March 31,

2026

2025

2026

2025

(Restated)

(Restated)

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

INTERNATIONAL PACKAGING FILMS LIMITED

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UN-AUDITED)

AS AT MARCH 31, 2026

(Un-audited)

(Audited)

March 31,

June 30,

Note

2026

2025

(Rupees in '000)

ASSETS

NON-CURRENT ASSETS

Property, plant and equipment

4

2,240,758

2,230,534

Right-of-use assets

1,147

5,366

Intangible assets

48,220

53,653

Long-term investments - subsidiaries

5

13,952,900

13,951,215

Loan to subsidiaries

786,754

1,581,104

Long-term loans

22,564

32,594

Long-term deposits

74,555

74,265

17,126,898

17,928,731

CURRENT ASSETS

Stores, spares and consumables

466,056

401,014

Stock-in-trade

6

1,621,554

1,968,924

Trade receivables

3,289,649

4,870,537

Loans and advances

332,089

150,108

Trade deposits and short-term prepayments

59,159

29,410

Other receivables

845,724

719,600

Sales tax refundable

2,295

34,347

Current portion of loan to subsidiary

1,384,566

549,461

Short-term loan to subsidiary

-

62,702

Short-term investment

27,000

-

Cash and bank balances

296,599

321,812

8,324,691

9,107,915

TOTAL ASSETS

25,451,589

27,036,646

EQUITY AND LIABILITIES

SHARE CAPITAL AND RESERVES

Share capital

Issued, subscribed and paid-up capital

7,352,100

7,002,000

Capital reserves

Share premium

2,120,622

2,470,722

Reserve for investment in subsidiaries

3,259,000

3,259,000

Revenue reserves

Unappropriated profit

2,501,446

2,111,868

TOTAL SHAREHOLDERS' EQUITY

15,233,168

14,843,590

LIABILITIES

NON-CURRENT LIABILITIES

Long-term financing - secured

7

664,029

1,108,234

Deferred income - government grant

4,509

5,180

Deferred taxation - net

352,321

385,947

Staff retirement benefits

270,911

216,111

1,291,770

1,715,472

CURRENT LIABILITIES

Trade and other payables

8

1,852,505

3,142,158

Contract liabilities

272,727

262,939

Dividend payable

1,703

-

Short-term borrowings - secured

9

5,854,490

6,178,753

Current portion of long-term financing - secured

7

596,377

597,185

Current portion of deferred income - government grant

893

893

Current portion of lease liabilities

2,143

10,846

Taxation - net

345,813

284,810

8,926,651

10,477,584

TOTAL LIABILITIES

10,218,421

12,193,056

CONTINGENCIES AND COMMITMENTS

10

TOTAL EQUITY AND LIABILITIES

25,451,589

27,036,646

-

-

-

423,513

423,513

-

-

-

-

-

-

-

-

809,698

809,698

-

-

-

-

-

-

-

-

809,698

809,698

-

-

-

(420,120)

(420,120)

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED)

FOR THE PERIOD ENDED MARCH 31, 2026

(Restated)

(Un-audited)

(Un-audited)

March 31,

March 31,

Note 2026

2025

(Rupees in '000)

CASH FLOWS FROM OPERATING ACTIVITIES

Cash generated from / (used in) operations

Finance costs paid

Staff retirement benefits paid

Income tax and levies paid

Increase in long term deposits

Decrease in long-term loans

14

2,345,969

567,340

(684,214)

(1,054,726)

(12,365)

(10,659)

(529,913)

(390,780)

(290)

(11,595)

10,030

5,760

(1,216,752)

(1,462,000)

1,129,217

(894,660)

CASH FLOWS FROM INVESTING ACTIVITIES

Payment for acquisition of property, plant and equipment

Payment for acquisition of intangible assets

Advances paid against future issuance of shares

Investment in Term Deposit Receipt

Return on PLS savings accounts

Proceeds from disposal of property, plant and equipment

Loan recovered from / (made to) subsidiary

Net cash generated from / (used in) investing activities

(173,319)

(900)

(1,685)

(27,000)

8,075

-

209,860

15,031

(85,072)

(6,728)

(208,953)

-

6,678

368

(193,580)

(487,287)

CASH FLOWS FROM FINANCING ACTIVITIES

Lease rentals paid

Dividend Paid

Repayment/ (proceeds) of short-term borrowings

Repayment of long-term financing

Net cash (used in) / generated from financing activities

(9,181)

(418,417)

(153,335)

(445,013)

(1,025,946)

(4,019)

-

1,197,854

(218,717)

975,118

Net decrease in cash and cash equivalents

118,302

(406,829)

Cash and cash equivalents at beginning of the period

(1,335,530)

(140,189)

Cash and cash equivalents at end of the period 15

(1,217,228)

(547,018)