Baldher, District Haripur, Khyber Pakhtunkhwa COMPANY INFORMATION
CHAIRMAN Mr. Aurangzeb Khan
CHIEF EXECUTIVE Mr. Adam Jadoon
DIRECTORS
Mr. Aurangzeb Khan Mr. Adam Jadoon
Mr. Amanullah Khan Jadoon Mr. Hassan Ovais
Mrs. Aamna Jadoon
Mr. Muhammad Bahauddin Mr. Nusrat Iqbal
AUDIT COMMITTEE
CHAIRMAN Mr. Nusrat Iqbal
MEMBER Mrs. Aamna Jadoon
MEMBER Mr. Muhammad Bahauddin
HR & R COMMITTEE
CHAIRMAN Mr. Nusrat Iqbal
MEMBER Mr. Muhammad Bahauddin
MEMBER Mr. Adam Jadoon
COMPANY SECRETARY Mr. Sadaqat Khan
C.F.O Mr. Taj Muhammad
AUDITORS M/s Clarkson Hyde Saud Ansari Chartered Accountants
SHARE REGISTRAR F.D. Registrar Services (SMC-Pvt) Ltd
REGISTERED OFFICE Khyber Textile Mills Ltd.
& HEAD OFFICE Baldher, District Haripur, Khyber Pakhtunkhawa
MILLS Baldher, District Haripur,
Khyber Pakhunkhawa
Website address:- https://www.khybertextile.com Email Address:- info@khybertextile.com Phone No:- 0995-655048
Directors ReportOn behalf of the Board of Directors (BOD), we are pleased to present the unaudited 1stquarter financial statements for the period ending 30thSeptember 2025.This report outlines the Company's current business activities and operations, the ongoing banking litigation, credit restrictions, and the continued closure of textile production.
In accordance with the decisions made during previous AGMs and per the BOD's instructions and approval, Management has repurposed a significant portion of the Company's vacant land for its agricultural business. This includes the operation of a livestock farm for the purchasing, rearing, and eventual sale of cattle. Moreover, the cost-saving methods of cultivating fodder on the Company's land have increased efficiency and reduced the input costs for the farm's operations. Furthermore, to generate additional income for the Company, Management has continued renting some of its vacant buildings and warehouses and has utilized these funds to reinvest in the ongoing operations. As a result of these efforts, the Company successfully generated revenue during the period under review, which has been reflected in the financial statements annexed herewith.
The primary obstacle to resuming textile production remains the continued restriction on access to credit facilities due to the ongoing banking litigation pending in the Courts to recover liabilities, which the Company disputes as baseless. As a result of the credit constraints, the Company is unable to complete the balancing, modernization, and replacement (BMR) process or obtain the required working capital essential to restarting textile production. Nevertheless, the Company is actively defending the litigation pending before the Banking Courts in order to reach finality in these matters.
Despite these challenges, the Company continues to meet its expenses, operate and invest in its current business activities while generating revenue and remaining compliant with its obligations as an active taxpayer. Accordingly, the Board will continue to steer the Company in line with available resources and safeguard its interests.
For and on behalf of the Board of Directors,
Chief Executive Director Adam Jadoon Muhammad Bahauddin Baldher, Haripur Dated: 23rd October 2025
KHYBER TEXTILE MILLS LIMITED
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT SEPTEMBER 30, 2025 UN-AUDITED
30/09/2025
Un-Audited
30/06/2025
Audited
Note ------- Amount in Rupees -------
NON CURRENT ASSETS
Property, Plant and Equipment | 1,279,060,574 | 1,280,756,896 | ||
Bearer Plants (Biological Assets) | 182,450 | 182,450 | ||
Long Term Deposits | 88,983 | 88,983 | ||
1,279,332,007 | 1,281,028,329 | |||
CURRENT ASSETS | ||||
Inventory - Livestock (Biological Assets) | - | - | ||
Inventory - Animal Feed and Medicines | 707,000 | 707,000 | ||
Stores and Spares | 5 | - | - | |
Advances and Other Receivables | 2,227,514 | 1,925,801 | ||
Cash and Bank Balances | 6 | 13,618,402 | 17,050,510 | |
16,552,916 | 19,683,311 | |||
1,295,884,923 | 1,300,711,640 | |||
SHARE CAPITAL AND RESERVES | ||||
Share Capital | 12,275,030 | 12,275,030 | ||
12,275,030 | 12,275,030 | |||
Capital Reserve | ||||
Statutory Reserve | 257,782 | 257,782 | ||
Revaluation Surplus on Property, Plant & Equipment | 1,244,978,331 | 1,244,978,331 | ||
Revenue Reserve | ||||
Accumulated Loss | (11,236,826) | (6,560,109) | ||
1,246,274,317 | 1,250,951,034 | |||
NON CURRENT LIABILITIES | ||||
Loan from Member/ Director | 7 | 16,500,757 | 16,500,757 | |
Deferred Taxation | 27,226,185 | 27,226,185 | ||
43,726,942 | 43,726,942 | |||
CURRENT LIABILITIES | ||||
Short Term Loan from Director | 8 | 5,409,718 | 5,559,718 | |
Trade and Other Payables | 9 | 473,946 | 473,946 | |
Provision for Taxation | - | - | ||
5,883,664 | 6,033,664 | |||
CONTINGENCIES AND COMMITMENTS | 10 | |||
1,295,884,923 | 1,300,711,640 |
The annexed notes form an integral part of these financial statements
CHIEF FINANCIAL OFFICER DIRECTOR CHIEF EXECUTIVE
KHYBER TEXTILE MILLS LIMITED
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE QUARTER ENDED 30TH SEPTEMBER 2025
UN-AUDITED
Three months ended | ||
30/09/2025 | 30/09/2024 | |
------- Amount in Rupees -------
SALES | - | - | ||
Less: COST OF SALES | - | - | ||
GROSS PROFIT | - | - | ||
Less: Administrative Expenses | 6,660,067 | 6,157,996 | ||
Financial Expenses - Bank Charges | - | 288 | ||
6,660,067 | 6,158,284 | |||
OPERATING (LOSS) | (6,660,067) | (6,158,284) | ||
Other Operating Income - Rent | 1,983,350 | 2,202,400 | ||
(LOSS) BEFORE TAXATION | (4,676,717) | (3,955,884) | ||
TAXATION | - | - | ||
(LOSS) AFTER TAXATION | (4,676,717) | (3,955,884) | ||
OTHER COMPREHENSIVE INCOME | - | - | ||
TOTAL COMPREHENSIVE (LOSS) | (4,676,717) | (3,955,884) | ||
EARNINGS PER SHARE - BASIC AND DILUTED | 12 | (3.81) | (3.22) | |
The annexed notes form an integral part of these financial statements. |
CHIEF FINANCIAL OFFICER DIRECTOR CHIEF EXECUTIVE
KHYBER TEXTILE MILLS LIMITED
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY
FOR THE QUARTER ENDED 30TH SEPTEMBER 2025 UN-AUDITED
Issued, Subscribed & Paid Up Capital
Capital Reserves | Accumulated Loss | Total | ||
Statutory Reserve | Revaluation Surplus | |||
------------------------- Rupees --------------------------
Balance as at June 30, 2024 - Audited | 12,275,030 | 257,782 | 1,254,829,867 | (10,561,588) | 1,256,801,091 |
Total Comprehensive Income for the quarter | |||||
Net loss for the period | - | - | - | (3,955,884) | (3,955,884) |
Other Comprehensive Income | - | - | - | - | - |
- | - | - | (3,955,884) | (3,955,884) |
Balance as at September 30, 2024 - Un Audited 12,275,030 257,782 1,254,829,867 (14,517,472) 1,252,845,207
Balance as at June 30, 2025 - Audited | 12,275,030 | 257,782 | 1,244,978,331 | (6,560,109) | 1,250,951,034 |
Total Comprehensive Income for the quarter | |||||
Net loss for the period | - | - | - | (4,676,717) | (4,676,717) |
Other Comprehensive Income | - | - | - | - | - |
- | - | - | (4,676,717) | (4,676,717) |
Balance as at September 30, 2025 - Un Audited 12,275,030 257,782 1,244,978,331 (11,236,826) 1,246,274,317
CHIEF FINANCIAL OFFICER DIRECTOR CHIEF EXECUTIVE
KHYBER TEXTILE MILLS LIMITED CONDENSED INTERIM CASH FLOW STATEMENT FOR THE QUARTER ENDED 30TH SEPTEMBER 2025
UN-AUDITED
Three months ended | ||
30/09/2025 | 30/09/2024 | |
- Amount in | Rupees ------- | |
CASH FROM OPERATING ACTIVITIES (Loss) / Profit before Taxation | (4,676,717) | (3,955,884) |
Adjustments for: Depreciation | 1,696,322 | 3,208,630 |
Financial Expenses | - | 288 |
Operating (loss) before working capital changes | (2,980,395) | (746,966) |
(Increase)/Decrease in Operating Assets | ||
Inventory - Animal Feed | - | (794,157) |
Increase/(Decrease) in Operating Liabilities | (2,980,395) | (1,541,123) |
Trade and Other Payables | - | - |
Cash generated from operations | (2,980,395) | (1,541,123) |
Financial Expenses | - | (288) |
Tax deducted at source/Paid | (301,713) | (305,425) |
Net Cash (Used) in Operating Activities | (3,282,108) | (1,846,836) |
CASH FROM INVESTING ACTIVITIES | ||
Net Cashflow in Investing Activities | - | - |
CASH FROM FINANCING ACTIVITIES | ||
Loan from Directors | (150,000) | (250,000) |
Net Cash (used in) Financing Activities | (150,000) | (250,000) |
NET (DECREASE) IN CASH AND CASH EQUIVALENTS | (3,432,108) | (2,096,836) |
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | 17,050,510 | 13,840,420 |
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | 13,618,402 | 11,743,584 |
CHIEF FINANCIAL OFFICER DIRECTOR CHIEF EXECUTIVE
KHYBER TEXTILE MILLS LIMITED
NOTE TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
FOR THE QUARTER ENDED 30TH SEPTEMBER 2025 UN-AUDITED
CORPORATE AND GENERAL INFORMATION
Khyber Textile Mills Limited is a Public Limited Company, incorporated on 26th August, 1961 under the Companies Act, 1913 (Now the Companies Act, 2017). Its shares are quoted on the Pakistan Stock Exchange Limited. The activities of the Company were the manufacture and sale of cotton, polyester yarn and cloth, however due external factors the production was halted. Consequently the Company has been operating an agricultural livestock business on its vacant land since 2017, as a revised principal line of business of the Company, that is agricultural, which was approved by the Registrar of Companies in 2019. It has also been carrying on alternative business activities of renting excess buildings for warehousing and rental purposes since 2016.
The geographical locations and addresses of Company's premises are as under:
- The registered office of the Company, the production facility and agricultural farms are located at Baldher, District Haripur, Khyber Pakhtunkhwa.
BASIS OF PRESENTATION
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 comprise of:
International Accounting Standard (IAS) 34, Interim Financial Reporting, 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.
Comparative financial position numbers are extracted from the annual financial statement of the Company from the year ended June 30, 2025, whereas comparative statement of profit or loss and other comprehensive income, statement of cash flows and statement of changes in equity are stated from unaudited Condensed interim financial statements of the Company for the three months period ended September 30, 2024.
The Company's financial risk objectives and policies are consistent with those disclosed in the preceding annual financial statements for the year ended June 30, 2025.
The accounting policies and methods of computation adopted in the preparation of annual financial statements for the preceding year ended June 30, 2025 have been consistently applied in the preparation of these interim financial statements.
ESTIMATES AND JUDGMENTS
The preparation of condensed interim financial information requires management to make certain judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. The significant judgments made by management in applying the Company's accounting policies and key sources of estimation of uncertainty are the same as those that were applied to the financial statements for the year ended June 30, 2025.
TAXATION
No provision for taxation is made in these interim accounts.
KHYBER TEXTILE MILLS LIMITED
NOTE TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
FOR THE QUARTER ENDED 30TH SEPTEMBER 2025 UN-AUDITED
30/09/2025 Un-Audited | 30/06/2025 Audited | |
------- Amount in Rupees ------- | ||
5 STORES AND SPARES | ||
General stores | 3,000,000 | 3,000,000 |
Less: Provision for Obsolescence | (3,000,000) - | (3,000,000) - |
6 CASH AND BANK BALANCES | ||
Cash in Hand | 171,126 | 919,887 |
Cash at Bank - Current Accounts | 13,447,276 | 16,130,623 |
13,618,402 | 17,050,510 | |
7 LOAN FROM SHAREHOLDER/ DIRECTOR | 16,500,757 | 16,500,757 |
This represents the amount received from a shareholder /director of the Company for the purpose of working capital requirements. The loan is interest free, unsecured and the director has deferred his right to repayment at least twelve months from the date of the these financial statements.
8 SHORT TERM LOAN FROM DIRECTORS 5,409,718 5,559,718
This represents the amount received from a director of the Company for the purpose of working capital requirements. The loan is interest free, unsecured and repayable on demand.
9 TRADE AND OTHER PAYABLES | ||
Accrued Liabilities | 435,290 | 435,290 |
Other Liabilities | 38,656 | 38,656 |
473,946 | 473,946 | |
10 CONTINGENCIES & COMMITMENTS | ||
Contingencies reported in the preceding annual financial statements remain un-changed.
RELATED PARTY TRANSACTIONS
Related parties comprise of group companies ( associates ), directors, major shareholders, their close family members and key management personnel. Transactions with related parties during the period, other than and including those which have been disclosed elsewhere in these financial statements, are given below:
Name of Related Party Nature of Transaction
Mr. Jadoon Adam - CEO/Director Loan ( repaid )
(150,000) (1,100,000)
KHYBER TEXTILE MILLS LIMITED
NOTE TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
FOR THE QUARTER ENDED 30TH SEPTEMBER 2025 UN-AUDITED
EARNINGS / (LOSS) PER SHARE
30/09/2025 Un-Audited | 30/09/2024 Un-Audited | |
------- Amount in Rupees ------- | ||
Net (loss) / profit for the year | (4,676,717) | (3,955,884) |
Number of shares outstanding during the year | 1,227,503 | 1,227,503 |
Earnings per share - Basic and diluted | (3.81) | (3.22) |
13 GENERAL | ||
13.1 Figures have been rounded off to the nearest thousand of Rupee. | ||
13.2 Corresponding figures have been rearranged and reclassified, wherever necessary, for the purpose of better presentation, the effect of which is not material.
14 DATE OF AUTHORISATION
These unconsolidated condensed interim financial statements were authorized for issue on 23rd October 2025
CHIEF FINANCIAL OFFICER DIRECTOR CHIEF EXECUTIVE