Transmission of Quarterly Report for the Period Ended December 31, 2025

$ KHAIRPUR

g" SUGAR NILLS UMITED

ENDED December

I, 2025

KHAIRPUR

SUGAR MILLS LIMITED

01

CONTENTS

05 SIA IEMEN'1 OF CONDENSED INIERIM CHANGES IN EQUII Y (UN-AUDIIFD)

ov

06

10

07 NOTLS TO THE CONDENSFD INTERIM FINANCIAI STATEMENT (IN-AIMITFD)

KHAI

SUGAR MILLS LIMITED

02

CORPORATE INFORMATION

DATE OF INCORPORATION

August 23, 1989

DATE OF COMMENCEMENT OF BUSINESS

September 1.3, 1989

BOARD OF DIRECTORS

Mr. Faraz Mubeen Jumani (Chief Executive Officer) Mr. Muha d Mubeen Jumani

Mr. Fahad Mubeen Jumani

Mrs. Qamar Mubeen Jumani (Chairperson) Miss. Arisha Mubeen Jumani

Mr. Asif Khan Brohi

Mr. Ghulam NRbi Memon MorRi

CHIEF FINANCIAL OFFICER

Mr. Mirza Muhammad Bilal Kamil

COMPANY SECRETARY

Mr. Mirza Muhammad Bilal Kainil

BANKERS

Allied BRRk Limited Bank Al Falah Limited Bank AL Habib Limited

Dubai Islamic Bank Pakistan Limited

Habib Bank Limited JS Bank Limited MCB Bank Limited

MCB Islamic Bank Limited Meeznn Bank Limited National Bank of Pakistan

Pair Investment Company Limited

Pak-Brunei Invesnnent Company Limited Parwaz Financial Services Limited

Sindh Bank Limited Sindh Modarba United Bank Limited

SHARES REGISTERAR

C & K MRflRgement ASSDCiates (Private) Limited

M-13, MezzRnine Floor, Progressive Plaza, PlDt No. S CL - 10, Civil Lines Quarter, Beaumont Road, Near P.I.D.C., Karachi.

E-MAIL & WEBSITE

headoffice@juinanigroup.corn

http://khairpursugar.com.pk

COST AUDITORS

Mls A. D. Akhawala & Co. (Chartered Accountant)

321-UNI Centre, I. I. Chundrigar Road, Karachi.

AIHIT COMMITTEE

Mr. Asif Khan Brohi (Chairman)

Mr. Ghulam Nabi Memon Morai (Member)

Mrs. Qamar Mubeen Jumani (Member)

HR AND REMUNERATION COMMITTEE

Mr. Asif Khan Brohi (Chairman)

Mr. GhulRlTl Nebi Memon Morsi (Member)

Mr. FahRd Mubeen Jumani (Member)

NOMINATION COMMITTEE

Mr. Asif Khan Brohi (ChfllrmRn)

Mrs. Qainar Mubeen Jumani (Member) Mr. Fahad Mubeen Jumani (Member)

RISK MANAGEMENT COMMITTEE

Mr. Asif Khan Brohi (Chairman)

Mr. Muhammad Mubeen Jumani (Member)

Miss. Arisln Mubeen Jumani (Member)

SUSTAINABLE (ESG) COMMITTEE

Mr. Asif Khan Brohi (Chairman)

Mr. Muhammad Mubeen Jumani (Member)

Miss. Arisha Mubeen Jumani (Member)

LEGAL ADVISOR

Asad Ali Riar (Advocate)

Suite No 17-18, Farid Chambers, 2nd Floor,

Abdullah Haroon Road, Karachi.

STATUTORY AUDITORS

M/S. Reanda Haroon Zakaria Aamir Salinan Rizwan

& Co. (Chartered Accountants)

M-1 -M4, Mezzanine Floor, Progressive PlnzR, Plot No. 5 CL - 10, Civil Lines Quarter, Beaumont RO8d. NeRr Daivood Centre, Karachi - 73530.

REGIS"fERED OFFICE

51/11/IV, Khayaban-e-Jenbaz,

Phase-V (Ext.), D.H.A., Karachi.

Ph: 021-3ñ250l31-35 | Fax: 021-35250136

MTLLS

Naroo Dhoro, Tnluka Kot Diji, Khairpur.

STOCK EXCHANGE SYMBOL KPUS

**

KHAIRPUR 03

SUGAR MILLS LIMITED

VISION STATEMENT

We aim to be aleading manufacturer of quality sugar, and other allied products and its supplier in local and international markets. We aspire to be known for the quality of our products and intend to play a pivotal role in the economic and social development of Pakistan.

MISSION STATEMENT

As a prominent producer of sugar, and other allied products, we shall continue to strive to achieve excellence in performance and aim to exceed the expectations of all stakeholders. We target to achieve technological advancements to inculcate the most eTicient, ethical and time-tested business practices in our management.

KHAIRPUR

SUGAR MILLS LIMITED

04

DIRECTORS' REPORT FOR THE INTERIM PERIOD ENDED

DECEMBER 31, 2025

Assalam-o-alaikoom

On behalf of thc Board o1 Directors, it is our privilege to present before you the un-audited

financial statements of the Company for the First Quarter ended December 31, 2025.

FINANCIAL RESULTS

During the period under review, the opcration of your Company resulted in a pre-tax protit

of Rs. 161,402 Million. the summarized financial results are as under:

Particulars

Profit before taxation

Taxation

Profit atier taxation

Earnings Per Share (Basic & Diluted)

Rupees in thousand

161,402

(65,591)

92,811

5.80

PERFORMANCE REVIEW

The crushing season 2025-26 conunenced on December 2, 2025, and by the end oT this tluarter (December 3 1, 2025), the Company has crushed 125,284.501 M.T o1" sugarcane, producing 10,250 M.T o1 sugar with an average recovery rate o1 9.2% over 30 days oT actual crushing.

In comparison, during the corresponding period of the previous season (2024-25), the Company crushed 205,117.b20 M. 1 of sugarcane, producing 18,621 M. 1' of sugar with an average recovery of 8.954% over 41 days of crushing.

The lower crushing volume and slight increase in recovery rate during the current period are attributed to a later start or the season and variations in canc quality. The management is actively optimizing operational elhciency to improve recovery in the remaining season. The Goveriunent o1 Sindh (Agriculture Supply & Prices Department) has not notified any official suparcane procurcmcnt prices. I urther, due to the untimely import o1 sugar by the Federal Government the crushing season delayed by approximately a month Moreover, alter the start of crushing season the growers were not ready for harvesting due to these issues due to which the season up to December 31 st, 2025 docs not remains as effective as it was previously. Rut the management is hopeful that the condition will improve in the 1st Quarter o1 I inancial Year 2026 and the season will be mutually beneficial for all stakeholders.

KHAIRPUR 05

SUGAR MILLS LIMITED

DTVIDEND

In light ot the interim nature ot these financial results Mld the need to preserve capital for ongoing operations, the Doard has decided not to declare any interim dividend 1or the period ended December 31 2025.

ENVIRONMENT

Khairpur Sugar Mills Limited remains committed to environmental sustainability. In compliance with the Sindh Environmental Protection Act, 2013, thc Company has implemented measures to rcducc water u.saga and iioprovc drainagc systcins. With approval from the Sindh Fnvironmental Protection Agency (SEPA) and guidance from foreign consultants, a wastewater treatment plant with a capacity o1"3 000 cubic meters per day has been installed. Thc treated water is being repiirposed for agricultural use, addressing water scarcity and reducing pollution.

CORPORATE GOVERNANCE

The Company has complied with corporate governance regulations in the following manner: The total number ot Dircctors are seven as per thc following:

Two

2. The composition of board is as follows:

Independent Directors Mr. Asi1 Khan Brohi

Mr. Ghulam Nabi Memon Morai

Mr. Fahad Mubeen Juinaiii Non-Executive Directors Mrs. Tamar Mubeen Jumani

Executive Directors Female Directors

Mr. Muhammad Mubeen Jumam

Mrs. Qainar Mubeen .luinani Miss. Arislia Mubeen Jumani

KHAIRPUR 06

SUGAR MILLS LIMITED

The Board had Toured committccs comprising of members given below:

Audit Committee

Human Resource and Remuneration Cormnittee

Nomination

C orritlllIICC

Risk Management

Committee

Mr. AsifKhan Brohi

Mr. Ghulam Nabi Mcmon Morai Mrs. Qamar Mubeen Jumani

Mr. AsifKhan Brohi

Mr. Gliulain Nabi Memon Morai

Mr. AsifKhan Drohi

Mr. Fahad Mubccn .Jumani

Mr. AsifKhan Brohi

Mr. Muhammad Mubeen Jumani Miss. Arisha Mubeen .7umani

Chai

Chai

Member

Sustainability (ESG) Committee

Mr. Asi1 Khan Brohi

Mr. Muhammad Mubeen Jumani

Miss. Arisha Mubeen Jumani

ChairmairMeinber

Sugar prices have shown downward trend in the early part of the season.

A downward trend inFinance costs (linked to KIBOR) is expected to support profitability. Management rcmains optimistic about the remainder of thc financial year and is focused on cost eThciency and operational excellence.

ACKNOWLEDGEMENT

The Board extends its sincere gratitude to the shareholders, employees, and stakeholders for their continuous support and dedication. The tireless efforts of our workforce have beea instrumental in the Company's pi'ogrcss and success.

Place: Karachi (Fitraz Mubeen Jumani) (Muhammad Mubeen Jumani)

Dated: January 30 2026 Chief Executive Officer Director

KHAIRPUR

SUGAR MILLS LIMITED

07

KHAIRPUR SUGAR MILLS LIMITED

STATESIENT OF CONDENSED INTERIM FINANCIAL POSITION (UNAUDITED)

AS AT DECEMBER 31, 202fi

December 31 September 30

2025 2025

(tlnaudited) (Audited)

Note

--Rupees in 000's--

ASSETS

Non-C'urrent Asssets Property, Plant and Equipment Intangible Assets

Aug Term posits

CUIRREh T ASSETS

Stock in Trade

Stores & spare and loose tools Tradc Debts

Adinnces

Deposits, prepavments and other receivables Tax refund due from C overnment

Cash and bank balances

5 6,312,IIS 6,390,892

7,015 7,104

62,602 69.565

6,381,732 6,467,562

4,060,315 4,210,606

EQtJIlW AND LIABILITIES

Authorised share capital

20,000,000 ordinary shares ofRs. 10/- cach

Issued, subscribed and paidup capital

Accumulated Profit

Surplus on rei aluation of fixed assets-net

Subordinated Loan

10,442,047 l0,67b,167

200,000 200,000

SHAREHOLDER'S EQUITY

5,095,473

5,002,662

Total Equity and Liabilities

7

10,442,047 10.678,167

The annexed notes from 1 to 9 forint an integral part of these intcriln financial statcnicnts.

Chief Exccutii c Officcr Chief Financial Officcr Director Place: Karachi, Dated: January 30, 2026

KHAIRPUR

SUGAR MILLS LIMITED

08

UR SUGAR MILLS LIMITED

STATEâI£NT OF CONDENSER PROFIT OR LOSS ACCOUNT (UNAUDITEB)

FOR THE QUARTER ENDED DECEMBER 31, 2025

December 31

Chief Financial Officer

Place: Karachi, Dated: January 30. 2026

Director

KHAI

SUGAR MILLS LIMITED

09

KHAIRPUR SUGAR MILLS LIMITED

STATEMENT OF CONDENSED INTERIM CHANGES IN EQUITY (IJNAUDITED)

AS AT DECEMBER 31, 202fi

Issued, Capital Reserve

subscribed Surplus on ACcumulated Subordinated ›.t.›

& paid-up revaluation or Profit Loan

capital fiaed assts

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

Farah Mubeen Jumani

ChiefExecutive Officer

firza Muhammad Bilal Kamil Muhammad Mubeen Jumani

Chief Financial Officer Director

Place: Karachi, Dated: January 30, 2026

KHAIRPUR

SUGAR MILLS LIMITED

10

KHAIRPUR SUGAR MILLS LIMITED

STATEMENT OF CONDENSED INTERIM CASH FLOWS (UN-AUDITED)

AS AT DECEMBER 31, 202fi

1. CASH FLOW FROM OPERATING ACTIN ITIES

   Dec 31 Dec 31

   2025 2024

   (tlnaudited) (Unaudited)

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

   Net profit before taxation

   Amusements for:

   - Financial cost

   • Depreciation

   • Amortization

   Working capital changes:

   Trade Debts

   Stores, spares and loose tools Stock in trade

   Loans and advances - Considered good Deposits, prepayineiits and other receivables Trade and other payables

   Taxes paid - net Financial charges paid

   Net cash generated lromf(used in) operating activities

   
   
   

2. C'ASH FLOW FRO4I IA9 ESTINGAC TIVITIES

161,402

143,715

224,763

122,135

46,53 7

174,867

(280,481)

(55,977)

(197,772)

(250,748)

Farah ñfuheen Jumani Mirza Muhammad Rilal Kamil 4fHhainmad ñfuheen JHmani

Chiet Executive Of'fieer Chiet rinancial Of'ficer Director

Place: Karachi, Datcd: January 30, 2026

KHAIRPUR

SUGAR MILLS LIMITED

KHAIRPUR SUGAR MILLS LIMITED NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENT (UN-AUDITED) FOR THE QUARTER ENDED DECEMBER 31, 2025

1. NAI€I AAUSfAIUSO£bUMNES5

   The Company was incorporated iii Pakistan on August 23, 1989 as a public limited company under the Companies Ordinance, 1984 (The Ordinance) . The company is listed on Pakistan Stock Exchange I.iinited (formerly Karachi Stock Exchange). The registered otTice ot the Company is situated at 51/II/IV 26th Street Khayaban e .Ianbax, D.H.A Karachi.

   l"he principal activity c›f the Company is the manufacture and sale of sug‹ir and by products.

2. BASIS OF PREI'ARA'l ION

   This condensed interim tiiiancial statements is unaudited and has been prepared in accordance v ith the approved accounting standards as applicable in Pakistan for interim financial reporting which comprise ot the International Accounting Standar d - 34 "Interim Financial Reporting" as applicable in Pakistan and provisitins of. and directives issued un‹ler the Companies Act 2017: in case. u here the requirements ot the International Accounting Standard ditf'er, the proc isions of. and direcli› es issued under the Companies Act 2017 (the act). In cases where the rec uirements of the International Accounting Standard diffcr, the provisions of, and directives issued under the Act shall pre ai1.

   This condensed interim finanical statements does not include all the information required tor trill annual fiinncial statements and should be read in conjunction with the audited financial staeinents ot the company as at and tor the year ended September 30, 2025.

   These condensed interim financial siammenis are being submitted to the shareholders as wquired un‹kr section 237 o1 the Companies Act, 2017 and the listing regulations of the Kar‹ichi Stc›ck Exchange.

   The comparative balance shcct prcscntcd in these interim financial statements has bccn extracted from the audited financial statements of the Company tor the year ended September 30, 2025, wliereas the comparative profit and liss account, statement o1 changes in equity, statement of conpreheiisii e income and cash flow statement are extracted trom the unaudited interim tinancial statements for the first quarter en‹led December 31. 2025.

   1. Functional and Presentation Currency

      I hese condensed interim financial statements are prepared in Pakistani Rupees which is also the Company's functional currency and all the numbers prcscntcd hat c been roundcd off to the nearest thousand.

3. SIP.NIFIC ANT A€ C"OIWTING POI IVIES AND ESTIMATES

The accounting policies and the methods ot computation adopted in the preparation ot this condensed interim financial statements are the same as those applied in the preparation o1 the audited financial statements of the company as at and for the ycar ended Scptcmber 30, 2025. Amendments to certain existing standards and interpretations on approved accounting standards effective durins the period werc not rclcx ant to the company's operations and did not harc any impact on the accounting policies ot the company.

KHAIRPUR

SUGAR MILLS LIMITED

12

4 ACCOUNTING ESTI IATES, JUDG.MENTS AND FINANCIAL RISK .MANAGENIFNT

The preparation of these condensed interim financial statcnicnts in conformity with approved accounting standards requii'es management to make estimates, assumptions and use .Judgments that affect the application of policies and reported amounts. Actual results may differ from these estimates, assumptions and judgements. Esttinates, assumptions and judgments are continually ei'aluated and are based on historical experience and other lactors, including reasonable expectations of tiiiure ei ents. Revisions to accounting estlrnates are recognised prospectii ely commencing from the peric›d ofrevision.

In preparing these condensed interim financial statements, the significant judgments made by management in applying thc Company's aceountins policies and the key sources of cstnnation and uncertainty were the same as those that applied to the financial statements as at and for the year rided September 30, 2025.

The Company's financial risk management objectives and politic s are consistent u'ith those

disclosed in the tinancial statements as at and tier the year ended September 30. 2025.

fin-audited Audited

December 31, September J0.

2025 2025

Nute - Rupees in 000's -

PROPERTY, PLANT & F QtIIPMENT

• from directors

  Pi om banking company - Secui•ed

• Cash finance

654,414 716,197

6 1 2,364,635 2,22b,635

3,019,052 2,944,532

7 C OF TH GENC IES AND C.ONISIITNIENTS

As at December 31, 2025, there is no material change in the status of matters reported as contingencies and commitments in the notes to financial statements of the company tor the year ending 30 September 2025.

KHAIRPUR

SUGAR MILLS LIMITED

SEASONALITY OF OPERATIONS

The Sugar Industry arc opcratins on seasonal basis normally from Not cmbcr toMarch. Therefore all major production cost other tlmn tixed cost, for example cost of goods manufactured, stock and short term finances being reflected to be high in this period.

9 DATE OF AUTHORIZATION

I his condensed interim financial information has been authorized for issue on January 30. 2026 by the Board ofDirectors of the Company.

Figures have been rounded oil to the nearest thousand rupees.

ChiefExeciiti e OlTicer Chief I inancial Officer Place: Karaclu, Dated: January 30, 2026

_More tharw

" KHAIRPUR

@ BIJOAR ¥ILL8 MNITBi

51/II/IV, Khayaban e-Janbaz,

Phase-V Ext., D.H.A., Karachi.

Tel : 021-.35250131-35 Fax : 021-35250136

E-mail . haadoffice @jumanigrou p.com We bsite : www.k hairpursugar.com.pk