Transmission of Quarterly Report for the Period Ended 31 Dec 2025

CRAFTING RELIABILITY, DELIVERING QUALITY

THE HALF YEARLY REPORT

TO THE SHAREHOLDERS FOR THE HALF YEAR ENDED DECEMBER 31, 2025

Vision and Mission Statement 02

Company Information 03

Directors' Report to the Shareholders (English) 04

Directors' Report to the Shareholders (Urdu) 07

Independent Auditors' Review Report 09

Unconsolidated Condensed Interim Statement of Financial Position (Un-audited) 10

Unconsolidated Condensed Interim Statement of Profit or Loss Account (Un-audited) 11

Unconsolidated Condensed Interim Statement of Comprehensive Income (Un-audited) 12

Unconsolidated Condensed Interim Statement of Changes in Equity (Un-audited) 13

Unconsolidated Condensed Interim Statement of Cash Flows (Un-audited) 14

Notes to the Unconsolidated Condensed Interim Financial Statement (Un-audited) 15

Consolidated Condensed Interim Statement of Financial Position (Un-audited) 26

Consolidated Condensed Interim Profit or Loss Account (Un-audited) 27

Consolidated Condensed Interim Statement of Comprehensive Income (Un-audited) 28

Consolidated Condensed Interim Statement of Changes in Equity (Un-audited) 29

Consolidated Condensed Interim Statement of Cash Flows (Un-audited) 30

Notes to the Consolidated Condensed Interim Financial Statement (Un-audited) 31

"Our vision is to evolve as a trusted global enterprise by 2030, while setting our eyes to achieve revenue base of $70 million by widening business footprints, both local and global markets, upholding quality excellence, customer-centric innovation, employee growth, and lasting shareholder confidence."

"To be a reliable, innovative, and quality conscious business partner that ensures customer satisfaction and shareholders' confidence, while fostering a peoplefirst culture and expanding our footprint from local markets to the global stage."

Board of Directors

Syed Shahid Ali - Chairman*

Syed Sheharyar Ali - Non-Executive Director Mr. Muhammad Mohtashim Aftab - Chief Executive

Mr. Ehsan ul Haq - Non-Executive Director

Ms. Zunaira Dar - Non-Executive Director

Mr. M. Z. Moin Mohajir - Independent Director

Dr. Rozina Muzammil - Independent Director

* Chairman is Non-Executive Director

Audit Committee

Mr. M. Z. Moin Mohajir - Chairman

Syed Sheharyar Ali - Member

Mr. Ehsan ul Haq - Member

Dr. Rozina Muzammil - Member

Human Resources & Remuneration Committee

Dr. Rozina Muzammil - Chairperson

Syed Sheharyar Ali - Member Mr. Muhammad Mohtashim Aftab - Member Ms. Zunaira Dar - Member

Chief Financial O cer

Mr. M. Mobin Akhter

Company Secretary

Mr. Babar Saleem

Head of Internal Audit

Mr. Muhammad Ali

External Auditors

M/S. Yousuf Adil, Chartered Accountants

Legal Advisors

M/S. Altaf K. Allana & Co., Advocates

Symbol

Loads

Credit Rating A1 - Short term A - Long Term

Exchange

Pakistan Stock Exchange

Bankers

Al Baraka Bank (Pakistan) Limited Bank AL Habib Limited

Habib Bank Limited

Habib Metropolitan Bank Limited JS Bank Limited

MCB Bank Limited Meezan Bank Limited

National Bank of Pakistan Limited Soneri Bank Limited

Askari Bank Limited The Bank of Punjab

MCB Islamic Bank Limited Bank Islami Pakistan Limited

Subsidiaries and Associates

• Specialized Autoparts Industries (Private) Limited

• Multiple Autoparts Industries (Private) Limited

• Specialized Motorcycles (Private) Limited

• Hi-Tech Alloy Wheels Limited

• Treet Corporation Limited

Registered O ce

Plot No. DSU-19, Sector II, Pakistan Steel Industrial Estate, Bin Qasim, Karachi.

Tel: +92-21 34740100 / 0302-8674683-9

E-mail: inquiry@loads-group.pk

Shares Registrar

M/s. CDC Share Registrar Services Limited

CDC House, 99-B, Block-B, S.M.C.H.S, Main Shahra-e-Faisal, Karachi.

Tel: Customer Support Services: 0800-23275 Fax: +92-21-34326053

E-mail: info@cdcpak.com

DIRECTORS' REVIEW

Dear shareholders,

The Directors of Loads Group are pleased to present the Company's half yearly performance report, along with the unaudited financial statements for the period ended December 31, 2025.

OPERATING AND FINANCIAL RESULTS

BUSINESS REVIEW

Operating and Financial Performance

The Company delivered strong financial results for the half year ended December 31, 2025, recording a 36% growth in revenue to Rs. 3,794 million (2024: Rs. 2,799 million). This was primarily driven by rising demand from Original Equipment Manufacturers (OEMs), reflecting a continued growth in the automotive sector. The Company effectively mobilized working capital to support this demand along with tapping the opportunities in aftermarket and export fronts.

Gross profit rose by 31% to Rs. 819 million, translating to a gross margin of ~22%. Operating profit increased by 11% to Rs. 588 million, while Profit Before Tax (PBT) rose by 32% to Rs. 423 million, supported by improved sales and positive macroeconomic indicators including a stable exchange rate and lower policy rates.

Profit After Tax stood at Rs. 260 million (2024: Rs. 202 million) and Earnings Per Share (EPS) stood at Rs. 1.03 (2024: Rs. 0.80).

During the quarter under review there was a transporter strike which lasted for almost 10 days that adversely effected our supplies to the OEMs.

Group Consolidated Performance

On a consolidated basis, the Group reported revenues of Rs. 3,794 million, a 36% increase compared with the corresponding period. PBT improved to Rs. 345 million (2024: Rs. 213 million), while Profit After Tax was Rs. 106 million (2024: Rs. 46 million), reflecting the impact of growth in sales value.

AUTOMOTIVE SECTOR OVERVIEW

According to the Pakistan Automotive Manufacturers Association (PAMA):

• Passenger Cars/LCVs/SUVs sales increased by 46%, from 60,676 to 88,322 units. Sales by Suzuki, Toyota, and Honda rose by 27%, 64%, and 70% respectively.

• Heavy Commercial Vehicles sales surged by 96% from 1,798 to 3,532 units.

• Tractor sales dropped by 26% from 17,397 to 12,929 units, with Millat and Al-Ghazi declining 16% and 39%, respectively.

COMPANY'S SALES PERFORMANCE

Given below are the segmented sales of Loads group for the half year ended December 31, 2025:

FUTURE OUTLOOK

The automobile sector in Pakistan is expected to witness gradual recovery and sustainable growth in the medium to long term, supported by improving macroeconomic indicators, stabilizing exchange rates, and easing monetary policies. Government initiatives aimed at enhancing industrial competitiveness, encouraging new market entrants, and promoting localization are likely to strengthen the manufacturing base.

The overall outlook remains cautiously optimistic. Continued economic stabilization, improving consumer confidence, and technological advancements are expected to support steady growth. The Company remains focused on operational efficiency, product diversification, and innovation to capitalize on emerging opportunities and enhance shareholder value.

ACKNOWLEDGEMENTS

The Board wishes to thank all the employees, customers and stakeholders for their continued support. By order of the Board

M. Mohtashim Aftab DR. ROZINA MUZAMMIL

Chief Executive Director

Karachi: February 17, 2026

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۔(�ور 0.80 :2024) 1.03 ۔�ر �ور (EPS) 5sآ � � روا (�ور � 202 :2024) � 260 ۔�ر �ور �� � S �

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۔� �� �� T تا�ا S ��ا � �و � ،(�ور � 46 :2024) � 106 ۔� �ور �� � S � � ،(�ور � 213 :2024)

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%70 روا %64 ،%27 ��� ��و) � ا�� روا �Ḙc ،�وز� ۔�Ḙ 88,322 � 60,676 ،ا� г�ا %46 � �و) � LCVs/SUVs/ںورd )� •

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۔�� � � 39 روا � 16 ��� � ىز�ا روا � ،� ہر �Ḙ 12,929 �� � � 26 � 17,397 �و) � �� •

YOUSUF ADIL

PACE ALIGNED ...

Yousuf Adil

Chartered Accountants

Cavish Court, A-35, Block 7 & 8 KCHSU, Shehrah-e-FeisaI Karachi-7535O

Pakistan

Tel: +92 (021) 3454 6494-7

https://www.youeufadlI.com

INDEPENDENT AUDITORS' REVIEW REPORT

To the members of Loade Limited

We heve reviewed the aooompanying unoonsolidated condenaed interim statement of financial position of Loads Limited ae at Deoembet Z1, Zg25 and the related unconaolidated condenaed interim statement of proG ar lass unconsolidated condensed interim statement of other comprehensive income, unconsolidatedcondensed interim statement of changes in equity, unconeolldated oondeneed interim statement of caeh flowe and notes to the unconsolidated condeneed interim financial 6tatementa fanning part thereof(here-in-after referred to as the 'interim financial 6tatemente1Mrthe hellyear then ended. Management is responsible for the preparation and presentation of thie interim financial statements in aCcordance with accouMing and reporting 6tandard6 as applicable in Pakistan for interim financial reporting. Our responsibility isto express a concludon an these financial Statements based on our re¥iew.

We conducted our reYiew in accordance with imemational Standard on Review Engagements - 2410, °Rwiew of interim Financial Information Performed by the independent Auditor of the Entity°. A review of unconsolidated condensed interim financial statements oonsicts of making irIc|uiriea, primarily of persons rasponalble for financial and accounting matters and applying analytical and other review jxocedures. A review is substantially le98 in scope than an audit conducted in aooordanoe with lntemational Standards on Auditing and consequmtly doe8 not enable us to obtain assurance that we would become aware of ell significant matters that might be identified in an audit. Accordingly, we do not express an audit

Ba6ed on our review, nothing has eometo our attention thet causes us to believe that the accompanying interim financial 6tateM€ttt9 89 of arid for thehalf year ended December 31, 2025 is not pregare‹t in allmaterial respects, in accordance with accounting end reporting standards as applicable in Pakistan for interim financial reporting.

Pursuam to the requiremeñ of Section 237 (1) (b) of the Compania6 Act 20J7, only cumulative figures for the six months, pre6ented in the second quarter accounts are subject to a limited 8cope review by the statutory auditars of the Company. Aocordingly, the figures of the unconsolideted condensed interim statement of profit or loss and the unconsolidated oondensed interim statement of other comprehensive income for the three months period ended December 31, 2025 have not been reviewed by us.

The engagement partnw on the raview reeulhng in this independent auditors' redew report is for. Arif Nazeer.

Date: February 26, 2026

UDif4: RR2025l0099KgJMyaZ2o

Half Yearly Report 2025 09

Unconsolidated Condensed Interim Statement of Financial Position (Un-audited)

As at December 31, 2025

The annexed notes from 1 to 27 form an integral part of these unconsolidated condensed interim financial statements.

Unconsolidated Condensed Interim Statement of Profit or Loss Account (Un-audited)

For the half year ended December 31, 2025

Note

Revenue from contracts with

customers - net 21

Cost of revenue 22

Gross profit

Administrative, selling and general expenses

ECL against mark-up receivable - HAWL

Other expenses

Other income 23

Finance costs

Profit before income taxes

Income taxes

Profit for the period Earnings per share - basic

and diluted 24

2,799,442,887

(2,173,060,954)

626,381,933

(166,131,761)

460,250,172

(323,550,851)

136,699,321

395,265,023

531,964,344

(211,803,832)

320,160,512

(118,655,257)

201,505,255

0.80

1,572,348,589

(1,254,788,827)

317,559,762

(109,179,562)

208,380,200

(163,890,685)

44,489,515

223,120,698

267,610,213

(101,875,551)

165,734,662

(43,747,569)

121,987,093

0.49

The annexed notes from 1 to 27 form an integral part of these unconsolidated condensed interim financial statements.

Unconsolidated Condensed Interim Statement of Comprehensive Income (Un-audited)

For the half year ended December 31, 2025

Profit for the period

Other comprehensive income

Items that will never be reclassified subsequently to profit or loss

Change in fair value of equity investment at FVOCI

- net of tax

Total comprehensive income for the period

The annexed notes from 1 to 27 form an integral part of these unconsolidated condensed interim financial statements.

Unconsolidated Condensed Interim Statement of Changes in Equity (Un-audited)

For the half year ended December 31, 2025

Balance as at June 30, 2024 (audited) 2,512,500,000 1,070,065,433 20,851 246,800,854 3,829,387,138

Total comprehensive income for the half year ended December 31, 2024

The annexed notes from 1 to 27 form an integral part of these unconsolidated condensed interim financial statements.

Unconsolidated Condensed Interim Statement of Cash Flows (Un-audited)

December 31,

2025

December 31,

2024

(Rupees)

For the half year ended December 31, 2025

Note

The annexed notes from 1 to 27 form an integral part of these unconsolidated condensed interim financial statements.

1. STATUS AND NATURE OF BUSINESS

   1. Loads Limited (the Company) is a public listed company, which was incorporated in Pakistan on 1 January 1979, as a private limited company under Companies Act, 1913 (repealed with the enactment of the Companies Act, 2017 on 30 May 2017).

      On 19 December 1993, the status of the Company was converted from private limited company to public unlisted company. On1 November 2016, the shares of the Company were listed on Pakistan Stock Exchange Limited (PSX).

      The principal activity of the Company is to manufacture and sale of radiators, exhaust systems and other components for automotive industry. The Company's registered office and plant is situated at Plot No. DSU 19 sector - II Pak Steel Industrial Estate, Bin Qasim Industrial Area, Karachi. There are four subsidiaries of the Company. The details are as follows:

      Name of the Companies Incorporation

      Effective holding %

      Principal line of business

      	date	31 December 2025	30 June 2025
      Subsidiaries
      Specialized Autoparts Industries (Private) Limited (SAIL)	2 June 2004	91%	91%	Manufacture and sell components for the automotive industry.
      Multiple Autoparts Industries (Private) Limited (MAIL)	14 May 2004	92%	92%	Manufacture and sell components for the automotive industry.
      Specialized Motorcycles (Private) Limited (SMPL)	28 September 2004	100%	100%	Acquire, deal in, purchase, import, sales, supply and export motorcycles and auto parts. The operations have been ceased from 1 July 2015.
      Hi-Tech Alloy Wheels Limited (HAWL)	13 January 2017	80%	80%	It will manufacture alloy wheels of various specifications and sell them to local car assemblers. Commercial production has not yet started.

      Investment in subsidiaries are carried at cost less accumulated impairment if any.

      Plant of MAIL is situated at DSU-38 in Downstream Industrial Estate Pakistan Steel Mills Bin Qasim Town, Karachi. HAWL has acquired land for establishing industrial unit which is located at National Industrial Park, Bin Qasim, the Special Economic Zone declared by Government of Sindh.

   2. Liquidity position and its management

      In 2017, Loads group initiated a new project of alloy wheels through a subsidiary company i.e. HAWL. To finance this project, significant borrowings were made from group entities (including Parent company) and other lenders (banks and related parties).

   3. Issuance of right shares

      Susbequent to the period ended December 31 , 2025, the company has issued of 120,000,000 right ordinary shares of Rs. 10/- each, at a price of Rs. 12.50/- each.

2. BASIS OF PREPARATION

   1. Statement of compliance

      These unconsolidated condensed interim financial statements of the Company for the half year ended December 31, 2025 has 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 Standards (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.

   2. These unconsolidated condensed interim financial statements are unaudited and are being submitted to the shareholders as required under section 237 of the Companies Act, 2017 and the listing regulations of the Pakistan Stock Exchange Limited. These unconsolidated condensed interim financial statements comprise of the unconsolidated condensed statement of financial position as at December 31, 2025 and unconsolidated condensed Interim statement of profit or loss, unconsolidated condensed statement of comprehensive income, unconsolidated condensed statement of changes in equity and unconsolidated condensed interim statement of cash flows for the half year ended December 31, 2025.

   3. The comparative unconsolidated statement of financial position presented in these unconsolidated condensed interim financial statements have been extracted from the audited annual unconsolidated financial statements of the Company for the year ended June 30, 2025, whereas the comparative statement of unconsolidated condensed interim statement of profit or loss, unconsolidated condensed interim statement of comprehensive income, unconsolidated condensed interim statement of changes in equity and unconsolidated condensed interim statement of cash flows have been extracted from the unaudited unconsolidated condensed interim financial statements for the period then ended December 31, 2024.

   4. These unconsolidated condensed interim financial statements of the Company does not include all the information required for full annual financial statements and should be read in conjunction with the audited annual unconsolidated financial statements of the Company as at and for the year ended June 30, 2025. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Company's financial position and performance since the last annual audited financial statements.

   5. Basis of measurement

      These unconsolidated condensed interim financial statements have been prepared under the historical cost convention except as disclosed elsewhere.

   6. Functional and presentation currency

      These unconsolidated condensed interim financial statements are presented in Pakistan Rupee which is also the Company's functional currency and all financial statements presented in Pakistani Rupee have been rounded off to the nearest rupee, unless otherwise stated.

3. NEW ACCOUNTING STANDARDS / AMENDMENTS AND IFRS INTERPRETATIONS

   1. New / Revised Standards, Interpretations and Amendments published accounting and reporting standards that are effective in current period

      The following amendments are effective for the half year ended December 31, 2025. These amendments are either not relevant to the Company's operations or are not expected to have significant impact on the Company's financial statements other than certain additional disclosures and are therefore not stated in these unconsolidated condensed interim financial statements.

      • Amendments to IAS 21 'The Effects of Changes in Foreign Exchange Rates' - Clarification on how entity accounts when there is long term lack of Exchangeability

   2. Standards, interpretations and amendments to published accounting and reporting standards that are not yet effective

      The following standards, amendments and interpretations are only effective for accounting periods, beginning on or after the date mentioned against each of them. These standards, interpretations and the amendments are either not relevant to the Company's operations or are not expected to have significant impact on the Company's financial statements other than certain additional disclosures.

      • IFRS 7 - Financial Instruments: Disclosures

      • Amendments IFRS 9 'Financial Instruments' and IFRS 7 'Financial instruments disclosures' - Classification and measurement of financial instruments

      • Annual Improvements to IFRS Accounting Standards (related to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7)

      • Amendments IFRS 9 'Financial Instruments' and IFRS 7 'Financial instruments disclosures' - Contracts Referencing Nature-dependent Electricity

      • IFRS 17 - Insurance Contracts (including the June 2020 and December 2021 Amendments to IFRS 17)

      • IFRS 18 - Presentation and Disclosures in Financial Statements

      • IFRS 19 - Subsidiaries without Public Accountability: Disclosur

        Effective from accounting period beginning on or after

        January 01, 2026

        January 01, 2026

        January 01, 2026

        January 01, 2026

        January 01, 2027

        January 01, 2027

        January 01, 2027

        Other than the aforesaid standards, interpretations and amendments, the International Accounting Standards Board (IASB) has also issued the following standards which have not been adopted locally by the Securities and Exchange Commission of Pakistan:

        IFRS 1 - First-time Adoption of International Financial Reporting Standards

4. MATERIAL ACCOUNTING POLICY INFORMATION

   1. The accounting policies and the methods of computation adopted in the preparation of this unconsolidated condensed interim financial information are the same as those applied in the preparation of the audited unconsolidated financial statements for the year ended June 30, 2025.

1. ACCOUNTING ESTIMATES, JUDGEMENTS

   1. The preparation of these unconsolidated condensed interim financial statements in conformity with approved accounting and reporting standards, as applicable in Pakistan, requires management to make estimates, assumptions and use judgements that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Actual result may differ from these estimates. Estimates, assumptions and judgements are continually evaluated and are based on historical experience and other factors, including reasonable expectations of future events. Revisions to accounting estimates are recognised prospectively commencing from the period of revision.

   2. Judgements and estimates made by the management in the preparation of these unconsolidated condensed interim financial statements are the same as those that were applied to financial statements as at and for the year ended June 30, 2025.

2. FINANCIAL RISK MANAGEMENT

   (Rupees)

Note

1. PROPERTY, PLANT AND EQUIPMENT

   441,035,090

   17,838,814

   458,873,904

   526,745,545

Operating assets 7.1

Capital work-in-progress

1. 1. The following acquisitions and disposals have been made during half year ended December 31, 2025.

      For the half year ended

      December 31, 2025 December 31, 2024

      Acquisitions at cost

      Disposals at book value

      Acquisitions at cost

      Disposals at book value

      --------------------------------------------(Un-audited) ------------------------------------------

      ------------------------------------------- (Rupees) --------------------------------------------

      Plant and machinery	571,000	-	27,601,885	14,923,129
      Tools and equipment	2,828,472	-	2,489,984	-
      Furniture, fittings and office equipment	2,806,030	-	1,214,964	-

      Vehicles 86,780,580 - - 1,403,676

2. INVESTMENTS

   859,960,000 175,000,000 75,000,000 75,000,000 1,184,960,000

   (25,000,000) (859,960,000)

   (884,960,000)

   300,000,000

   1. Long term investments At cost

      92,986,082

      Note

      - 31,306,833 16,326,805

      December 31,

      2025

      (Un-audited)

      June 30,

      2025

      (Audited)

      (Rupees)

      Investments in subsidiary companies - unlisted
      Hi-Tech Alloy Wheels Limited (HAWL)							859,960,000
      Specialized Autoparts Industries (Private) Limited							175,000,000
      Multiple Autoparts Industries (Private) Limited							75,000,000
      Specialized Motorcycles (Private) Limited (SMPL)							75,000,000
      							1,184,960,000
      Less: Provision for impairment in SMPL							(25,000,000)
      Provision for impairment in HAWL							(859,960,000)
      							(884,960,000)
      Net investment in subsidiary companies							300,000,000
      8.2 Short term investments
      Fair value through profit or loss (FVTPL) Equity securities			8.2.1	1,304,334			1,264,164
      Mutual fund			8.2.2	12,369,114			11,765,969
      Fair value through other comprehensive income (FVOCI)				13,673,448			13,030,133
      Equity securities			8.2.3	73,416			52,282
      				13,746,864			13,082,415
      8.2.1 Equity securities - at FVTPL
      December 31, June 30,				December 31, 2025			June 30, 2025
      2025	2025	Name of investee companies	Carrying	Market	Net change		Market
      (Un-audited)	(Audited)		value	value	in fair value		value
      (Number of shares) Ordinary shares - Quoted -------------------------------------- (Rupees) ---------------------------------------
      1	1	Agriautos Industries Limited*	130	158	28	130
      1	1	Al-Ghazi Tractors Limited *	423	401	(22)	423
      1	1	Atlas Battery Limited	272	242	(30)	272
      1	1	Atlas Honda Limited	1,031	1,483	452	1,031
      1	1	Ghandhara Tyre & Rubber Company Limited	40	39	(1)	40
      1	1	Honda Atlas Cars (Pakistan) Limited	275	275	-	275
      1	1	Thal Limited *	396	542	146	396
      230	230	Baluchistan Wheels Limited	32,697	43,203	10,506	32,697
      300	300	Hinopak Motors Limited	125,682	136,578	10,896	125,682
      200	200	Indus Motor Company Limited	347,110	400,686	53,576	347,110
      1,171	1,171	Millat Tractors Limited	654,191	614,997	(39,194)	654,191
      63	63	Oil & Gas Development Company Limited	13,895 17,708 3,813 13,895
      1,176,142				1,216,312	40,170	1,264,164

      * All shares have a nominal value of Rs. 10 each, except for the shares of Al-Ghazi Tractors Limited, Agriautos Industries Limited and Thal Limited which have a face value of Rs. 5 each.

      December 31, June 30,

      December 31, 2025

      June 30, 2025

      2025	2025	Name of investee companies	Carrying	Cost	Net change		Cost
      (Un-audited)	(Audited)		value		in fair value

      (Number of shares)

      Ordinary shares - Un-quoted

      -------------------------------------- (Rupees) ---------------------------------------

      315	315	Ghandhara Nissan Limited	10,679	10,679	-	10,679
      127	127	Pak Suzuki Motor Company Limited	77,343	77,343	-	77,343
      			88,022	88,022	-	88,022

      1. Mutual fund - at FVTPL

         December 31, 2025

         June 30, 2025

         December 31, June 30, (Un-audited) (Audited)

         2025 2025 Name of investee company (Un-audited) (Audited)

         Cost Market value

         Net change in fair value

         Market value

         (Number of Units) -------------------------------------- (Rupees) ---------------------------------------

         23,294 23,294 Atlas Islamic Money Market Fund 9,550,000 12,369,114 603,145 11,765,969

      2. Equity securities - at FVOCI

         The Company holds investment in ordinary shares of Rs. 10 each, in the following listed investee company:

         December 31, 2025 June 30, 2025

         December 31, June 30, (Un-audited) (Audited)

         2025 2025 Name of investee company (Un-audited) (Audited)

         Cost Market value

         Net change in fair value

         Market value

         (Number of shares)

         Ordinary shares - Quoted

         -------------------------------------- (Rupees) ---------------------------------------

         (Rupees)

152 152 ZIL Limited 5,330 73,416 21,134 52,282

Market value of investments Less: Cost of investments

Less: Equity investments at FVOCI - net change in fair value at beginning of the period / year

Net change in fair value for the period / year

1. STOCK-IN-TRADE

   Note

   52,282

   (5,330)

   46,952

   (34,182)

   12,770

   Raw material and components 9.1 & 9.2

   Work-in-process Finished goods

   Provision for slow-moving and obsolescence

   73,416 (5,330)

   68,086 (46,952)

   21,134

   688,438,561

   920,699,078 132,432,544 6,378,403

   1,059,510,025 (22,392,229)

   1,037,117,796

   128,838,559

   4,352,991

   821,630,111

   (22,392,229)

   799,237,882

   1. This includes raw material in-transit and in possession of Company's subsidiaries amounting to Rs. 300.4 million (June 30, 2025: Rs. 288 million) and Rs.45.4 million (June 30, 2025: Rs. 68 million) respectively.

      194,451,901 13,185,209 8,758,622 4,058,315

      220,454,047

   2. Raw material held with toll manufacturers as at December 31, 2025 amounted to Rs. 39.6 million (June 30, 2025: Rs. 66.6 million).

1. ISLAMIC CERTIFICATE - SUKUK

   1. This represents privately placed Islamic certificate (Sukuk) of Rs. 750 million secured by a Pari-Passu charge on Plant & Machinery of Hi-Tech Alloy Wheels Limited. It carries mark-up at the rate of 3 monhts KIBOR + 2.5% per annum repayable quarterly, and the tenure of the arrangement is 9 months.

      	Note
      Islamic Certificate - Sukuk	15.1.1	600,000,000	-
      Accrued Markup	15.1.2	15,258,082	-
      		615,258,082	-
      15.1.1 Movement of Sukuk Certificates
      Opening balance at the start of the period		-	-
      Sukuk issued During the period		750,000,000	-
      Payment made during the period		(150,000,000)	-
      Closing balance at the end of the period		600,000,000	-
      15.1.2 Movement of the accrued markup
      Opening balance at the start of the period		-	-
      Interst accrued during the period		41,114,959	-
      Payment made during the period		(25,856,877)	-
      Closing balance at the end of the period		15,258,082	-

      December 31, 2025 (Un-audited)		June 30, 2025 (Audited)
      (Rupees)

      1. As per the requirements of the fourth schedule to the Companies Act, 2017, shariah compliant companies and the companies listed on Islamic Index shall disclose the following:

         1. Short term borrowing amount outstanding as per Islamic mode amounting to Rs. 600 million ( June 30, 2025: Rs. Nil)

            December 31, 2025 (Un-audited)		June 30, 2025 (Audited)
            (Rupees)

            1,518,410,025 -326,501,757 9,624,000 391,578,912 35,582,775 288,887,136 559,244,949

            3,129,829,554

         2. Profit accrued on Islamic modes of financing Rs. 41.11 million (December 31, 2024: Rs. Nil)

1. TRADE AND OTHER PAYABLES

   Trade creditors Accrued liabilities

   Note

   Other liabilities Advance from customers Mobilization advances

   Workers' Profit Participation Fund 17.1

   Provision for bonus

   Workers' Welfare Fund 17.2

   Sales tax Payable Withholding tax payable

   Current portion of Gas Infrastructure Development Cess Security deposit from contractors

   Other payables

   1. Workers' profit participation fund

      45,685,184 23,238,982 -

      68,924,166

      Opening balance

      Charge for the period / year

      Less: Payments during the period / year Closing balance

      17,157,549 9,113,326 (17,157,549)

      9,113,326

   2. Workers' welfare fund

      Opening balance

      Charge for the period / year

      Less: Payments during the period / year Closing balance

2. SHARE CAPITAL

   1. Authorised share capital

      Authorised share capital comprises of 400,000,000 (June 30, 2025: 400,000,000) Ordinary shares of Rs. 10 each.

   2. Issued, subscribed and paid up capital

      17,262,504

      43,751,750

      (15,329,070)

      45,685,184

      18,726,525

      17,157,549

      (18,726,525)

      17,157,549

      December 31,	June 30,	December 31,	June 30,
      2025	2025	2025	2025
      (Un-audited)	(Audited)	(Un-audited)	(Audited)

      (Number of shares)

      Ordinary shares

      ----------------- (Rupees) -----------------

      153,770,000		153,770,000	Ordinary shares of Rs.10 each fully paid in cash	1,537,700,000		1,537,700,000
      97,480,000		97,480,000	Ordinary shares of Rs.10 each issued as fully paid bonus shares	974,800,000		974,800,000
      251,250,000		251,250,000		2,512,500,000		2,512,500,000

3. CONTINGENCIES AND COMMITMENTS

   1. Contingencies

      There have been no significant changes in the status of contingencies as reported in the unconsolidated annual financial statements for the year ended June 30, 2025 as disclosed in note 32.3.

      December 31,

      2025

      (Un-audited)

      June 30,

      2025

      (Audited)

      (Rupees)

   2. Commitments

      260,000

      193,993,165

      Note

      1. Guarantees issued by banks on behalf of the Company

      2. Letters of credit issued by various banks on behalf of the

         Company in ordinary course of the business (outstanding at year end)

4. CASH AND CASH EQUIVALENTS

   Note

   260,000

   December 31,

   2025

   (Un-audited)

   December 31,

   2024

   (Un-audited)

   (Rupees)

   350,071,951

   225,494,829 (436,927,579)

   (211,432,750)

   Cash and bank balances

   Short term borrowings 14

   4,471,202,090 6,019,375 (2,932,945)

   4,474,288,520 (680,585,455)

   3,793,703,065

5. REVENUE - FROM CONTRACTS WITH CUSTOMERS - NET

   Local sales 21.1

   Export Sales

   Less: Sales returns Less: Sales tax

   1. This includes scrap sales amounting to Rs. 85.4 million (December 31, 2024: Rs. 98 million).

      73,011,147

      (353,112,878)

      (280,101,731)

      3,319,411,151

      -(1,715,606)

      3,317,695,545

      (518,252,658)

      2,799,442,887

      Half year ended Quarter ended

      December 31,	December 31,		December 31,	December 31,
      2025	2024		2025	2024

6. COST OF REVENUE Note

   Raw materials and

   -----------------------------------------------------(Rupees)---------------------------------------------------

   ----------------------------------------------------(Un-audited)-----------------------------------------------

   components consumed		2,205,189,529		1,543,440,160		932,697,117		899,985,994
   Stores and spares consumed		102,455,415		46,505,841		55,153,797		19,098,302
   Manufacturing expenses
   Salaries, wages and other
   employee benefits		256,455,399		202,476,636		129,836,440		119,093,835
   Toll manufacturing	22.1	123,789,646		92,270,406		59,558,341		52,948,358
   Depreciation		22,304,401		21,015,561		11,958,286		10,648,462
   Gas, power and water		23,932,900		33,296,537		12,540,134		19,145,661
   Others		86,614,400		65,113,998		38,392,259		40,531,285
   Manufacturing cost		513,096,746		414,173,138		252,285,460		242,367,601
   Opening stock of work-in-process	9	128,838,559		115,219,072		160,374,926		43,800,791
   Impact of recording revenue overtime		132,432,544		51,735,384		132,432,544		51,735,384
   Closing stock of work-in-process	9	(132,432,544)		(51,735,384)		(132,432,544)		(51,735,384)
   		128,838,559		115,219,072		160,374,926		43,800,791
   Opening stock of finished goods	9	4,352,991		4,186,604		4,467,666		-
   Impact of recording revenue overtime		27,493,889		51,757,314		27,493,889		51,757,314
   Closing stock of finished goods	9	(6,378,403)		(2,221,175)		(6,378,403)		(2,221,175)
   		25,468,477		53,722,743		25,583,152		49,536,139
   		2,975,048,726		2,173,060,954		1,426,094,452		1,254,788,827

   1. This includes toll manufacturing expense from MAIL amounting to Rs. 96.8 million (December 31, 2024: Rs. 73.8 million).

      December 31,

      2025

      (Un-audited)

      December 31,

      2024

      (Un-audited)

      (Rupees)

7. OTHER INCOME

   36,653 643,315 225,924,741 226,604,709

   -5,139,559

   5,139,559 231,744,268

   Income from financial assets

   Dividend income Unrealized gain on re-measurement of investments at fair value through profit and loss Mark-up income on loans to subsidiaries			14,956 1,055,915 366,339,086
   Income from assets other than financial assets			367,409,957
   Gain on sale of property plant & equipment			39,984,152
   Other Income			12,339,586
   			52,323,738 419,733,695

   259,829,129

   251,250,000

   1.03

8. EARNINGS PER SHARE - basic and diluted

   Profit for the period Rupees

   Weighted average number of ordinary shares outstanding

   during the period Numbers

   Earnings per share - basic and diluted Rupees

9. TRANSACTIONS AND BALANCES WITH RELATED PARTIES

   201,505,255

   251,250,000

   0.80

   Related parties comprise of subsidiaries, associated company and other companies with significant influence, employees retirement benefit funds and key management personnel. Transactions with related parties are at terms determined in accordance with the agreed rates duly approved by the Board of Directors. Transactions and balances with related parties, other than those disclosed elsewhere in these financial statements, are disclosed below:

   Balances as at:

   Description Relationship and percentage

   Balances as at the period / year-end

   December 31, June 30,

   shareholding 2025 2025

   (Un-audited) (Audited)

   			----------------- (Rupees) -----------------
   Specialized Autoparts	Subsidiary company -	Loan due from at the period / year end	326,501,757 326,501,757
   Industries (Private)	54% holding (June 30, 2025: 54%)	Mark-up receivable on loan at the
   Limited		period / year end	336,339,927	313,082,983
   		Amount due from at the
   		period / year end	288,887,136	298,815,100
   		Other receivable	22,352,635	20,711,506
   Multiple Autoparts Industries (Private)	Subsidiary company - 60% holding (June 30, 2025: 60%)	Mark-up receivable on loan at the period / year end	46,983,834	46,983,834
   Limited		Amount due from at the
   		period / year end	561,773,790	341,169,804
   Hi-Tech Alloy Wheels Limited	Subsidiary company - 65.38% holding (June 30, 2025:	Loan due from at the period / year end net of provision of Rs. 1,317,197,594	1,518,410,025	1,518,410,025
   	65.38%)	Mark-up receivable at the period / year end net of provision of Rs. 2,285,398,207	-	-
   		Other receivable	9,023,113	5,793,913
   Specialized Motorcycle	Subsidiary company -	Other Receivable	3,706,788	3,706,788
   (Private) Limited	100% holding (June 30, 2025: 100%)	Loan due from at the period / year end	9,624,000	9,624,000
   		Accrued mark-up on loan at the
   		period / year end	8,255,151	7,569,627
   Syed Shahid Ali Shah	Director	Amount due at the period / year end	192,000,000	664,000,000
   		Accrued mark-up on loan at the period / year end	304,040,884	266,203,461
   Mohtashim Aftab	Director	Amount due at the period / year end	-	33,000,000
   		Accrued mark-up on loan from directors at the
   		period / year end	739,979	1,276,493
   Treet Corporation limited	Associate company	Amount due to at the period end	472,000,000	-
   Transactions for the period	:		Half year	ended

   Description Relationship and percentage Transactions during the period December 31, December 31, shareholding 2025 2024

   -------------- (Un-audited) ---------------

   ---------------- (Rupees) -----------------------

   Specialized Autoparts	Subsidiary company -	Loan repaid	-	7,961,506
   Industries (Private)	54% holding (June 30, 2025: 54%)	Mark-up income on loan	23,256,944	40,409,579
   Limited
   Multiple Autoparts	Subsidiary company -	Toll manufacturing	96,832,212	73,872,103
   Industries (Private)	60% holding (June 30, 2025: 60%)	Advance against toll manufacturing	220,603,986	86,110,037
   Limited		Loan repaid	-	13,672,788
   		Mark-up income on loan	-	1,256,492
   Hi-Tech Alloy Wheels	Subsidiary company -	Loan provided	-	160,706,361
   Limited	65.38% holding (June 30, 2025: 65.38%)	Mark-up income on loan	201,982,273	323,550,851
   Specialized Motorcycle	Subsidiary company -	Mark-up on loan	685,524	1,122,164
   (Private) Limited Provident fund	100% holding (June 30, 2025: 100%) Defined contribution plan	Paid during the period	8,815,000	18,720,000
   Employee benefits -	'Defined benefit scheme	Contribution paid during the period	2,165,000	1,600,000
   gratuity
   Treet Battery	Common directorship	Purchase of batteries	-	56,990
   IGI General Insurance	Common directorship	Purchase of services	8,574,647	5,618,324
   Limited
   Treet Corporation limited	Associate company	Loan obtained during the period	472,000,000	-
   Syed Shahid Ali Shah	Director	Loan repaid	472,000,000	-
   		Mark-up on loan	37,837,422	74,075,476
   Mohtashim Aftab	Director	Loan repaid / received	33,000,000	40,000,000
   		Mark-up on loan	1,247,644	3,146,704

   Remuneration of chief executive, directors and executives (Key management personnel)

   Salaries and benefits 89,076,639 59,096,780

10. FAIR VALUE OF FINANCIAL INSTRUMENTS

    Fair value is the price that would be received to sell an asset or paid to transfer a liability in orderly transaction between market participants at the measurement date.

    The Company classifies fair value measurements of its investments using a hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels:

    Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

    Level 2: Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly.

    Level 3: Inputs for the asset or liability that are not based on observable market date (i.e. unobservable inputs).

    1. Accounting classifications and fair values

       The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy for financial instruments measured at fair value. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.

       December 31, 2025

       Fair value through profit or loss

       FVOCI -

       equity instrument

       Carrying amount

       Amortised cost Other financial

       liabilities

       Total carrying amount

       Fair value

       Level 1 Level 2 Level 3 Total

       Note ------------------------------------------------------------------------------------------------------------------- (Rupees) ----------------------------------------------------------------------------------------------------------

       Financial assets - measured at

       fair value
       Equity securities	13,673,448	73,416	-	-	13,746,864		13,746,864	-	-	13,746,864
       Financial assets - not
       measured at fair value
       Subsidiaries - unlisted shares	-	-	300,000,000	-	300,000,000		-	-	-	-
       Trade debts - net	-	-	834,721,806	-	834,721,806		-	-	-	-
       Loans	-	-	21,943,831	-	21,943,831		-	-	-	-
       Deposits and other receivables	-	-	148,881,166	-	148,881,166		-	-	-	-
       Due from related parties	-	-	3,129,829,554	-	3,129,829,554		-	-	-	-
       Cash and bank balances	-	-	225,494,829	-	225,494,829		-	-	-	-
       	13,673,448	73,416	4,660,871,186	-	4,674,618,050		-	-	-	-
       Financial liabilities - not
       measured at fair value
       Short term borrowings	-	-	-	1,017,509,842	1,017,509,842		-	-	-	-
       Trade and other payables	-	-	-	859,845,196	859,845,196		-	-	-	-
       Lease liabilities	-	-	-	76,592,543	76,592,543		-	-	-	-
       Accrued mark-up on short term borrowings	-	-	-	36,931,320	36,931,320		-	-	-	-
       Long term loan	-	-	-	-	-		-	-	-	-
       Current portion of long term loan 26.2	-	-	-	36,550,895	36,550,895		-	-	-	-
       Due to related parties	-	-	-	970,602,441	970,602,441		-	-	-	-
       Unclaimed dividend	-	-	-	3,509,772	3,509,772		-	-	-	-
       	-	-	-	3,001,542,009	3,001,542,009		-	-	-	-
       June 30, 2025			Carrying amount					Fair value
       	Fair value	FVOCI -	Amortised cost Other financial		Total		Level 1	Level 2 Level 3		Total

       through profit or loss

       equity instruments

       liabilities

       ------------------------------------------------------------------------------------------------------------------- (Rupees) ----------------------------------------------------------------------------------------------------------

       Financial assets - measured at

       fair value
       Equity securities	13,030,133	52,282	-	-	13,082,415	13,082,415	-	-	13,082,415
       Financial assets - not
       measured at fair value
       Subsidiaries - unlisted shares	-	-	300,000,000	-	300,000,000
       Trade debts - net	-	-	737,830,359	-	737,830,359
       Loans	-	-	20,525,825	-	20,525,825
       Deposits and other receivables	-	-	128,018,497	-	128,018,497
       Due from related parties	-	-	2,871,657,831	-	2,871,657,831
       Cash and bank balances	-	-	13,665,108	-	13,665,108
       	13,030,133	52,282	4,071,697,620	-	4,084,780,035
       Financial liabilities - not
       measured at fair value
       Short term borrowings	-	-	-	774,944,178	774,944,178
       Trade and other payables	-	-	-	1,175,197,143	1,175,197,143
       Lease liabilities	-	-	-	12,575,160	12,575,160
       Accrued mark-up on short term borrowings	-	-	-	37,649,130	37,649,130
       Long term loan	-	-	-	25,548,465	25,548,465
       Current portion of long term loan	-	-	-	80,720,323	80,720,323
       Due to related parties	-	-	-	964,479,954	964,479,954
       Unclaimed dividend	-	-	-	3,509,772	3,509,772
       	-	-	-	3,074,624,125	3,074,624,125

    2. The Company has not disclosed fair values for these financial assets and financial liabilities because their carrying amounts are reasonable approximation of fair value.

11. GENERAL

    1. Corresponding figures

       In these unconsolidated condensed Interim Financial Statements, the corresponding figures have been rearranged and reclassified, wherever considered necessary for the purpose of comparison and better presentation.

    2. Segment reporting

       These unconsolidated condensed interim financial statements have been prepared on the basis of a single reportable segment. Geographically, all the sales were carried out in Pakistan. All non-current assets of the Company as at December 31, 2025 are located in Pakistan.

    3. These unconsolidated condensed interim financial statements were authorised for issue by the Board of Directors on 17 February 2026.

Chief Financial Officer Chief Executive Director

Consolidated Condensed Interim Statement of Financial Position (Un-audited)

31 December

2025

(Un-audited)

30 June

2025

(Audited)

(Rupees)

As at 31 December 2025

ASSETS

Non-current assets

Note

Property, plant and equipment 3

Long term loans Deferred tax assets

Current assets

Stores, spares and loose tools Stock-in-trade

Trade debts

Loans and advances Due from related party

Deposits, prepayments and other receivables Taxation - net

Short term investments Cash and bank balances

Total assets

EQUITY AND LIABILITIES

Share capital and reserves

Authorised capital

400,000,000 (30 June 2025: 400,000,000) ordinary shares of Rs.10/- each

Issued, subscribed and paid up capital Share premium

Fair value reserve Accumulated profit / (loss)

Equity attributable to owners of Parent Company Non-Controlling Interest

LIABILITIES

Non-current liabilities

Lease liabilities

Defined benefit obligation - net Long term loans

Current liabilities

Current maturity of lease liabilities Current portion of long term loans Short term borrowings

Islamic certificate - Sukuk Trade and other payables Due to related party

Loan from related parties Unclaimed dividend Accrued mark-up and profit

Total equity and liabilities

CONTINGENCIES AND COMMITMENTS 5

The annexed notes from 1 to 9 form an integral part of the consolidated condensed interim financial statements.

3,849,729,748

8,287,872

19,457,921

51,202,267

799,237,882

737,830,359

300,757,140

1,150,380

170,196,435

348,042,217

13,082,415

38,611,411

3,877,475,541

2,460,110,506

6,337,586,047

4,000,000,000

2,512,500,000

1,070,065,433

28,641

(119,405,619)

3,463,188,455

(934,298,584)

4,136,435

35,187,339

25,548,465

2,528,889,871

8,438,725

511,433,017

774,944,178

-1,406,536,904

22,048,871

964,479,954

3,509,772

52,432,516

64,872,239

3,743,823,937

6,337,586,047

Consolidated Condensed Interim Profit or Loss (Un-audited)

For the half year ended December 31, 2025

Half year ended

Quarter ended

31 December 31 December 31 December 31 December

2025 2024 2025 2024

(Rupees)

Note

The annexed notes from 1 to 9 form an integral part of the consolidated condensed interim financial statements.

Consolidated Condensed Interim Statement of Comprehensive Income (Un-audited)

For the half year ended December 31, 2025

Profit for the period

Other comprehensive income:

Items that will not be reclassified subsequently to profit and loss

Equity investments at FVOCI - net change in fair value

Total comprehensive income for the period

The annexed notes from 1 to 9 form an integral part of the consolidated condensed interim financial statements.

Consolidated Condensed Interim Statement of Changes in Equity (Un-audited)

For the half year ended December 31, 2025

Balance as at 31 December 2024 (unaudited) 2,512,500,000 1,070,065,433 20,670 (223,576,265) 3,359,009,838

2,512,500,000

1,070,065,433

28,641

(119,405,619)

3,463,188,455

Balance as at 01 July 2025 (audited)

Total comprehensive income

for the period ended 31 December 2025

The annexed notes from 1 to 9 form an integral part of the consolidated condensed interim financial statements.