Transmission of Half Yearly Accounts for the Period Ended 31st December 2024

UN- XI*DITED

HALF-YEARLY ACCOUNTS

FOR THE PERIOD ENDED DE I'MRFR 31, 2024

MandviwallaEaD•waom Plastic Industries Limited

MANDVIWALLA MASSER PLASTIC INDUSTRIES LIMTED

COMPANY INFORMATION

Board of Directors

Qtr, Abdu1 Qadir Shia aiii

8J i . .zeeiii H , Hand vi walla Mr S. As‹_har Ali

Board of Audit Committee Min. Huma Darupar

N4r, Abdul Qadir S hiwani X4r. Sh..us irn Ahmed Khan

Company Secretary its H iiia 4 rnbreeu

Bankers

Habib Meti-opol itan Bank Limited S1L K flank Limited

Auditors

Ibrahim Shaik li A Co C bartered Accountant

1'ax ñortsu1tants

F.A.K. Tax consultant

Legal Advisor

Tasaivur A li Hash mi (Ad vocate)

ltegistered Office

Mand viwal la Duildinp, Old Queen S Road, Karachi -74u0G.

Ter 02.1 -5244 I l G-< Fax02 I -32441 ?76

''ebsite: www .mandviwallamauser coin E-iiiail

Chairnzan 'Director Chief Fxccf‹ti e'Dii cctoi Dircctoi-

Director

Nircctoi"

It Jc;>enctet t Dircctor h›dvp nheMt Director

Uhairu .in

into Jrnand viw alla.net

Shares Registrar

Registrar TH k Associates (Pvt. ) 1.invited Plot No. 32-C', Jami Commercial Street 2,

D.11. Phase 'l I,

Karachi -75500 Pakistan t02 I - I I 1-0f1O-3 22

Factory

C'-3. t. thal Industrial Fstate,

L'thai District Lasbella, Balucli istan.

Tel t3S53-I›1033"3 05*3-2032 I S, l-ax. 08*3-G 1.03.9.3

New Factory' I>ocation: - A79/B, Easlern Industrial Zone, Port Oasin. Artthority, Karachi

DI RECTORS REVIEW REPORT

Deai' Simmers, The Ooard of Direx tors of your Com carry is p1ease‹4 to {aresent the un-‹un)itei4 linmac ial statement of the CoinJaany for the half-yearly ended De ceiialae r 31, 2024.

Economic Ov ervievv:

The P‹ikistaiii ertanomi cleiiionstratec4 coiatinuecJ tin} rovernent in the first hell of FY2025 (July-Det enil›er 2024), l›uil‹1inp tri tlu• stal›i1izatit›il ac liieved in FY2024. Kej rnacroecoiic›rnic indicators showed positive trenrls, c4riven lay sound fiscal management, effective inflation contrul, and stru‹'tui ‹il reforms. I lowever, r laallenges remain, particularly in sustaining growth and adcJressing structu ral in1l›a1anc es.

Key Highlights:

1. Inflation:

   • Inflation ‹4e‹ lineal significantly ter 7.2% in If I-FY2025, down Ironi 28.5% in the same J erioc4 lust yc‹ii . "Hiis w.is siip[aorted l easing glob‹il comnioctit) }orices, a stable cxcli.ingt• rate, ancl targetoc4 government Joolicies.

   • Url›.in foocJ inflation ‹lroppcc4 to 2.7%, while rura l 1'ooc4 irt11‹ation fell to 0.4%, rcilet tiiaJ› iinpi o eel c4ornesti‹: foorl su [flies anet 1t›w•er ¿lol›al fooc4 prices.

2. Monetary Policy:

   • The Stat‹• Bank of Pakistan (SBP) re‹4 uced the polir'y rate lxv 1,00t) lfasis points

     to 12% lay J‹iiiiiorv 2025, sign‹iling ‹in ‹ice oinmoc5ative stance to surptirt ec onc›tiiit red ‹every.

3. Foreign Exchange Reserves:

   • Foreign exrla.ing,r' rese ryes redclic‹4 $1G.4 (million 1» Deccmlvr 2024, ‹ overing over two months ct inn J*orts. this was supporto‹4 lay IM1' disl ursemcnls, rerrii1tanc'e its lows, anc4 improved external account sta1›ilit)'.

4. Strtictiiral Reforms:

   • The goverruncnt un eilec4 the 5-Year Economic Transformation Plan (URAAN Pakistan), low using on export growth, digit‹il transformation, onPrgy anet t'1irnate resiliem'e, infrastructure moc4 ernization, arid inclusix e growth

Company's Overv iew:

for the halt-yea rIy periocJ (Ju lv to I9e‹ einlaer 2024), the 21() Litre product demonstrated) a 10.2% increase in quantity sold, taut its sales Jaric'‹ clet reased by 11.2%, resu lting in a 2.2%â ever line in

total x•‹i1tie. 4 lit' 250 Liti'e pro‹4uct showc‹4 a 6.3% increase in c{uanti/' sold, with a 10% droJ in sales Price, leav4ing to a 4.? %» t4ecre‹ise in total v‹ilue. 4 lie 120 Litre and 160 Litre products,

ac li ieved sales of iiiore than 4 lhousanc4 collectively in 2024. The Bungs proc4uct recort4ed a 'IN.?% increase in qiia1itit' solar, ix•ith a 6.7%â c4et reuse in Sales (Price, ‹ ontributing lo a W.7% rise in totail x'alue. The Sealilâ 7, Ca{ Jai'or1uct stood out wilh a 1,200% inr mase in quantity sold

‹despite a 72 5% cJ roJa in Sales J›rice, resu llin¿ in a 1,282.G% surge in tol‹il value.

Key Observations:

1. Quantity Growths hCost probJucts, es ecially 210 Litre, 250 Litre, Biinys, and Se‹iluig Ca}n, sl1oxve‹4 signif tenant iru revises in c}uaiiiify solut across (both c]u irters and the halt-yearly [Period.

2. Sales Price Decline: Dcs[ itch tlae grc›wth in quontitw•, the Sales [ l'tco Irar most rodur ts c4ec linecl, |›artic ularly for 210 1.itr‹•, 25P I.it re, anc4 Settling C‹i{ , which irn{›ac ted total

sales 1or the half i ear.

4. New Products: The 120 1.itre and 160 I.itre Jarodut ts, introc4iic ed in 2024, rontril›utec4 Jaositi elj to the half-yr°arlj i't•su1ts.

Financial Performance:

Future Outlook:

1.ice the 21t) 1.itre, 250 Liti'e, bunks, and the oiitstancling surge in the Sealing Cap has laid a ysolid ouia‹lwc›rk for the future. l'lsese trenLJs, w ith even some prim e Alec revises, emphasize our c‹iJoal ility to take market shore anc4 deliver overall value grow th,. This stal›le performance not only inc4icates our product taunt} etitiveness lout also enforces our o[ erational resilient e in a turk u lent ec onomy.

Looking fciiuvarvt, in th event t1i‹it raw material rosts continue tt› stay low anlt ‹:rucle oil rices

also remain favoral›le, our 'ost lease will lie ‹4ram‹itical1y o{atimizec4, ‹is our raw rn‹iit•rials are largely importers. Stalale in Int ‹ osts w ill ena1›le us to l›uild better margins .incl ink est w'isely

in tlew produ‹'tion machine. F'iirtlaer, these {Positive cost factors, cou plecl with st‹il›le su[ [clv clia in c4ynaniics, se t us u Ja to tak‹• acJvaii t‹ige ‹›1 hi}•,1ae r [Production x•oluixies for even letter

profilaloilily in the next six mon llls.

ltd o‹4r4 ition, 1›asec4 on the assurn J tion thai international r•conorn ie anti [›oliticol trencts ‹ontinue on their ›resr nt coiii'se, we ore J›oised to surpass last year's J°rofit levels. Ongr›ing glulaal

stal›ility ‹inc4 strnng eLononi ie signals will Iurther euha rice r'oiisunier coniiden‹ e aiit4 r4einand

ir Shiw‹uñ

On behalf of the Board of Directors

Ch‹iiriiian/ Dire‹'tor

l'akistan

Date‹4: 23-May-2025

I B R A H I M , S H A I K H & C 0

C H A R T E R E D A C C 0 U N T A N T S

INHF".I'M? NINENT" .4 UINITORS' REPORT TO THE AIEM BERS OF M ANDVI WA I.L.A MAL SER PLASTIC INDUSTRIES LIMTTED

Rf.I'fJRJ' (IN REVIEW OF INTERIM FINANCIAL STATEMENTS

firmer Inc tion

\ c have i'cv iewed the accompanying condensed interim stateii ent of financial )sosition ot

I truth ivt alla MA USER Plastic Industries Limited as at December 31 , 2024 and the related c‹›n‹lciiscd interim statement of' prot)t or loss account. the condensed ilsteriin siateirent cut'

slatelnciit ‹at' cash flow'. and notes to the financial statements for the six-rrlonth period then ended (her e-in -al ter rcferi ed to as the interims fiuanc ial statements"). Management is resp‹ nsihle for the prepai ation alid presentation oi' these interim financial siatelnents in accordance w ith account ing

.ind ie)itai ling standards as applicable in Pa kistan for interim financial reporting. Our responsibility is to cx Jv css a cor cIusion old these intci iits li iiancial statcm ents based on our rev ices . Thc tigures of

com prchcissi ve income liar the quarters ended December 3.1 , 2024 and Decem bei 3.1, 2023 ha e not been ievic›sed. as we ai'e required to rex'ievs only the curn ulative figures tier the half'year envied IDecember' 3.1 .2024.

\'e conducted oilr re› iew in acct›rdance w itli Internalioiial Standard on Review Engageinclits 2.11.0. her ice› of Interim Financial Inloriiiatioli Performed by the Iiidepelident A lid itor of the l:latity". A

iei ieis ot interim financial statements consists of inak ing inquiries, primai'ilv tel' pei s‹ ns responsible for financial and accounting matters. and apply ing analytical and other rev ice pi ocedui es A review is substantially less in sco|ae than an audit conducted its accordalicc with Inter nai ional Standards on A iiditing and consequently does not enable us to obtain assurance ihat wc » ‹wild bccoliae aware ot' all st gn ificant matters that m ight be identitied ill an audit. Accordingly. i e clo not ex press an arid it opinion.

Ba.via for qualificnl Conclusion

As mentioned in liote 8.2 to the fi nanclal statements, the company has not recorded may adclitional tax 1iahilitj under section 205 of the [ncome Tax Ordinance, 200.1 that the c‹›in paNy may incur on noli-deposit oi third party tax liability in the government treasury i› itli in siimitated i iine. Siiice the age o1' the tax 1iab ility is iiot ascertainable. the estimate of the financial eft'ect cannot bc qiiantitied xit)i substantial acciirac j .

the halance under the head "Stock in Trade" ainotintin to Rs. 5.755 million, which is unna oved front t)ie last elex'en y ear s. The Tom pany has not recorded any proc ision againsi these slow moving "Stock in Trade" item s and we have not been prox'ided NRV » ork ing of these item s.

I fall the coin pany made the pl'‹ v isions the profiI fr›r the period, accuin ultlted losses ilflL$ Intl capital of the coin panj item Id have bccn low er by Rs. 5.755 million.

Principal Office 259,260 Panorama Centre, Fatima Jinnah Road, Karachi -74400, Tel (92-21) 35210577- 35673529, 35671853 Fax: (92-21) 35676591 Email: lbrahimshaikh41@yahoo.com Other Offices: Lahore and Faisalabad.

- IJ nc hinted Div idend amounting t‹a Rs 2.209 M illioii. Hc»vever balance as pci' Hi vidcnd ac cr›ih it in MC B (acct›unt to I 0075-9) illnounting to Rs N il.

lJ‹s cl oil ooh rc›'ic , except for the m atters dcscribed in ii the preceding paragraphs. noth ink lfas come to ‹›ui attention that causes- us to belie›'e that the accow pan} ink coisdensed interim tinanc ial statcm i t ai e not prepared, in all material respccts, in accordnncu w ith approved accounting :in‹l i ep‹ i tiny scandal-ds as appiicahlc iiz Pakistan fol- inter ii z financial rcpoi"tlI1 .

the tl naiicial statements for' the per rod ended Dec em bci 3.1, 2024 i ave been prepared on poiliy concern assiun ption The C?iniii}aaiij accurn ulated losses amounting to Rs 3.29.569 rn i11icon (202) Rs 41.4. 760 m illion) as on December › 1, 2024. I lius causing ncgative operatint¿ cash fi‹in for href Iotn j cars a lid current halt" eat' T'hese conditions. a tong with other matters as se1 forth in ii‹›ie I . 1 inrlicate the existence ot rn aterial uncertainty l rem rnaj cast si3ni meant d‹aiiht about 1he ct›rnpaiiy s abi 1ity to continue as goinp concern thei efoi e the cont paisy may be mumble to reali ze its asset and disch‹u-be its 1tab il ities in the normal con rse of' the bus iness.

l9atc: " '' l'lacc: KAltACH I

UDl N : R R202410234t I XsC9hoeV

Ibrahim, Shaikh & Co. Chartered A ccountaiits

MANDVIWALLA MAUSER PLASTIC INDUSTRIES LIMITED

CONDENSED INTERIM STATEMENT OF FINANCIAL POSTION AS AT DECEMBER 31, 2024

ASSETS

NON-CURRENT ASSETS

Property plant and equipment Deferred taxation

Long term deposits

CURRENT ASSETS

Stores. spare and loose tools Stock-in-trade

Trade receivables Othef receivables

Cash and bank balances

TOTAL ASSETS

EQUITY AND LIABILITIES REPRESENTED BY:

SHARE CAPITAL AND RESERVES

Ar thorized capital 40,000,000(June 30,2024. 40.000,000) ordinary snares of Rs.10/- each

Issued subscribed and paid-up capital 28.748, 133 (June 30,

2024: 28 748, 133) ordinary shares of RS. 10 each. Subordinated loan

Accumulated losses

CURRENT LIABILITIES

Trade and other payables Unclaimed dividend Provision fo" taxation Short term borrowings

Note

4

5

7

Unaudited December 31,

2024

Rupees

62,464,367

9,163,926

1,423,656

73,0s 4g

1,508,781

228.647,985

117.257,876

54,277,445

6,145,712

407,837,799

480,889,748

400,000,000

287 481,330

115,714,528

(329,569,478}

73 626.380

sz,sg1,866 2,208,846

5,143,979

302,653,437

377 698,128

Audited June 30,

2024

Rupees

64,544,574

14,672,067

1,423,656

80,640.297

2,374,131

150,354, 272

83,525,921

113,848,933

11,865,782

361,969.039

442,609,336

287,481,330

115,714,528 f347,300,278/

55,895,58G

91,235.399

2,208,846

24,613 100

239,033,278

357,090.623

NON-CURRENT LIABILITIES

Deferred liability

9 5 240 29 6 3 133

29,565,240 29,623,133

TOTAL EQUITY AND LIABILITIES CONTINGENCIES AND COMMITMENTS

480,889,748

442,609,336

The annexed notes 1 to 12 form an integral part of these condensed interim financial statements

Dire r Chief Financial Officer

MANDVIWALLA MAUSER PLASTIC INDUSTRIES LIMITED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS ACCOUNT (UNAUDITED)

FOR THE HALF YEAR ENDED DEC EMBER 31, 2024

Sales - Gross Less: Sales tax Sales - net

Note

Half year ended eye Qua ded December 31, December 31, Decem ber 31, December 31,

2024 2023 2024 2023

Rupees Rupees Rupees Rupees

569,634,514

(86,500,604)

614,532,497

(81,251 786)

291,718,609 345,002,095

(44,499,449) (47,887,184)

4B3,133.910 533,280,711 247,219,160 297,114,911

Cost of goods sold Gross profit / (loss)

Administrative expenses

Selling and distribution expenses

Otner income

Operating profit/(loss) Financial and other charges ProfiU'(loss) before taxation Taxation

9 t 418 2 3 2 9 452 063 348 219 583 385 2 4 081 710

81.217,363 27,635,775 43,033.201

15,853 123

8,629 261

13,075,668

7,910,466

8,717,392

5,259,720

8,301,850

3,464,1G0

(24,482 384) (20.986,134) (13,977,112) (11,765,9o0)

40,378,247 60,234 ,229 13,658,663 31,267,251

7 715 935 9 915 104 4 955 598) 4 772 034)

32,662,312 50,316, 125 8,703,065 26 495,217

4 9 512 8 55 741 7 983 330 1 645 678

Profit/(loss) for the period Earnings per share - basic

17,730,800 41,762,384

0.62 1.45

719,734 24,849,539

0.03

The annexed notes 1 to 12 form an integral part of these condensed interim financial statements.

Director

Chief Executive Chief Financial Officer

MANDVIWALLA MAUSER PLASTIC INDUSTRIES LIMITED

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2024

Half e Ended Quarter Ended

The annexed notes 1 to 12 form an integ ral part of these condensed interim financial statements

Direrd.

Chief Executive Chief Financial Officer

MANDVIWAf.LA MAUSER PLASTIC INDUSTRIES LIMITED

CONDENSED INTERIM STATEMENT OF CASHFLOWS - UNAUDITED FOR THE THREE MONTH PERIOD ENDED DECEMBER 31, 2024

Loss 'Tgain1 on sale of property, plant and equipment

Employees' compensated absences paid

annexed notes 1 to 12 form an integral part of these condensed interim financial statements

Chief Executive

Chief Financial Officer

MANDVIWALLA MAUSER PLASTIC INDUSTRIES LIMITED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)

FOR THE HALF YEAR ENDED DECEMBER 31, 2024

Rupees

Rupees Rupees

Rupees

Balance as at July 1, 2023

Total comprehensive Income for the period Increase in paid-up Cap ital

Balance as at December 31, 2023 - unaudited Ba lance as at July 1, 2024

Total comprehensive income for the period Balance as at December 31, 2024 - unaudited

287,481.330 115,714,528 (456,522.266) (53,326.409)

41,T62 384 41,762,384

287,461,330 115 714,528 (347,300,278) 55,895,580

17,730,800 17.730.800

The annexed notes 1 to 1 2 form an integral part of these condensed interim financial statements

Chief Executive

Chief Financial Officer

MANDVIWALLA MAUSER PLASTIC INDUSTRIES LIMITEDNOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTSFOR THE HALf' YEAR EhIDED DECEMBER 31, 2024

MANDVIWALLA MAUSER PLASTIC INDUSTRIES LIMITED

NOTES AND FORMING PART OF CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE HALF YEAR ENDED DECEMBER 31, 2024 (UNAUDITED)

STATUS AND NATURE OF BUSINESS

MaiJoviv7alla Mauser Plastic Industries Limited (the company) was incorporated in Pakistan on June 13. 1988, as a public limited company under the repealed Companies Ordinance 1984, (no' Companies Act, 2017). The company's ordinary shares are listed on the Pakistan Stock Exchanges (PSX = MWMP) . The company is mainly engaged in manufacturing and sale of plastic and allied products. The registered office of company is situated at Mandviwalla Building, Old Queens Road,

Karachi. The Plant is Located at A-68/B, Eastern Industrial Zone. Port Qasim Authority Karachi.

1.1 GOING CONCERN ASSUMPTION

Th ? ompany accumulated losses amounting to Rs 329.569 million (2023 Rs 414.760 million) as on December 31, 2024 Tl›tJs causing negative operating cash flow for last four years and current half year.

These conditions indicate the existance of material uncertainity which may cast significant doubt about the company's ability to contin ue as going concern and therefore it m ay be unable to realize its as sets and discharge its liabilities in the norm al course of business. These Financial Statements however, have been prepared under the going concern assumptions based on following mitigating factors narrated below

Forcasted Financial Statements of lhe company for subsequent 5 years indicates profitability and positave operating cash flows Up to December 31, 2024 Sponsoring Directors and Prospective Investor of the company have injected funds amorinling to Rs 115.714,528 and 156,065.220 respectively along with written commitment to the company stating that they would in|ect funds as and when required by the company.

1. BASIS OF PREPARATION

   
   
   

   These condensed interim financial statements have been prepared in accordance with the accounting and reporting standard's 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

   Islamic Financial Accounting Standards (IFAS) issued by the Institute of Chartered Accountants of Pakistan as notified under the Con panies Act, 2017; and

   Provisions of and directives issued under Ihe Companies Act.2017.

   
   
   

   Where the provisions of and directives issued under the Companies Act,2017 differ with the requirements of IAS 34, Ihe provisions and directives issued under the Companies Act,2017 have been followed.

   
   
   

   These condensed interim financial statements do not include all the information and disclosures required in the annual audited financial statements, and should be read in conjunction with company's annual audited financial statements for lhe year ended June 30,2024,

   1. Changes in accounting standards, interpretations and pronouncements

      1. Standards and amendments to approved accounting standards that are effective

         
         
         

         1here are certain amendments and interpretations to the accounting and reporting standards which are mandatory for the Company's annual accounting period beginning July 01. 2024. However, these do not have any significant impact on the Company's operation operation hence are not detailed in these conder'sed interim financial statements

      2. Standards and amendments to approved accounting standards that are not yet effective

There are standards and certain other amendments to the accounting and reporting standards that will be mandatory for lhe Company's annual accounting periods beginning on or after July 01, 202a. However. these will not have any impact on the Company'S financial reporting and. therefore. have not been disclosed in these condensed interim financial statements

SIGNIFICANT ACCOUNTING POLICIES

The accofJnting policies adopted in the preparation of these condensed interim financial statements are the same as those applied in the preparation of the annual financial statements of the Company for the year ended June 30, 2024

MANDVIWALLA MAUSE R PLASTIC INDUSTRIES LIMITEDNOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTSFOR THE HALF YEAR ENDED DECEMBER 31, 2024

4.2 0 perati ng fixed assets Opening writte n down value ArJdition during the period

Disposal during the period

Depreciation charged during the period Closing written down value

STOCK-IN -TRADE

Raw materials

Raw mater ials in bond Finished goods

Less Provision for slow moving finished goods

6 CASH AND BANK BALANCES

Cash in hand

F'ay order in Hand

Uash at banks - in current accounts I ocal currency

Cash margin with banks

Unaudited December 31,

2024

64,544,574

68,610, 075

1 305,9 79 3 133.21J

Rupees

65,850,553

(3,386.186)

147 284.350

102,669,220

81,786.302

48,107,719

62,464,367

229,070,652

(422 667)

228,647,985

Unaudited December 31,

2024

Rupees

5,100, 000

1,045,712

6,145,712

Audited June 30,

2024

Rupees

71.743.326

(7,196, 752)

64,544,574

150,776,939

(422.o67)

150.354 272

Audited June 30,

2024

Rupees

1.514,000

5,644.388

4,707,394

11,865,782

7

f. 1

7.2

I his represents a Letter of Credit - *rust Receipts finance facility amounting to Rs. 150 million, bearing a mark-up of 3-month KIBOR plus 1% per annum. The loan is lo be repaid within a maximum of 180 days from the date ol initiation. The loan is secured by a first pari passu charge over plant and machinery, as well as an undertaking from M/s Meskay & Femtee Trading Company (F'rivate) Limited to retire the Letter of Credit documents, if necessary, In addition, under the contract. the company's rights will be assigned to the bank. Funhermore. the loan is backed Dy both the personal guarantee of Mr. Shahid Tawawalla and the corporate guarantee of Mls Mesk a' & Femtee Trading Company Private Limited.

The Company has obtained loan from Mls Meskay and Femtee Trading Company (Private) Limited. As per the terms of agreement. the loan as payable on demand

8 CONTINGENCIES AND COMMITMENTS

Income Tax assessment Tax Year 2018

Constition al petlticrJ No 14 of 2024 filed by the company before the High Court of Sindh against amended a ssessment order for Tax year 2018 under section 122(SA) of the Income Tax Ordinance 2001 creating tax liability of Rs 15 million stay has been granted by the High Court. . In the opinion of legal advisor the company has a good arguable case on merits

8 2 Included in creditors, accrued and other liabilities. the company has no1 provided for additional tax on third party tax liability amounting to Rs. 5.023 million as at June 30, 2024, to be levied under section 205 of Income Tax Ordinance. 2001 a s disclosed in note J3 to the audited financial statements for the year e/1ded June 30, 2023. The company believes that the said amounl will be paid

8.2 Commitments Nil _

Guarantee issued to Honorable High Court of Sindh amounting to Rs 500,000 (2023: Rs 500,000). Letter of credit from raw material Rs. 6 million (2023 Nil) million

NiI

MANDVIWALLA MAUSER PLASTIC INDUSTRIES LIMIT EDNOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (UNAUDITED)FOR THE HALF YEAR ENDED DECEMBER 31, 2024

Unaudited

Note eye H f ded Quarter ended

Travelling COneyance and vehicle

10 TRANSACTIONS WITH RELATED PARTY

Related parties of tne company comprise of associated companies, directors, key management personnel and staff retirement benefit fund All the transactions witn related parties are entered into at agreed terms as approved Dy the Board of Directors of the company The related parties status of outstanding receivables and payables, if any, as at December 31, 2024 and June 30, 2023 are disclosed uJ respective notes to tnese condensed interim financial statements. Details of transactions with related parties, other than those which hav" been sp°cifically disclosed elsewhere in these condensed interim financial statements are as follows. All transactions with related parties are carried out by the company at arm's length prices using "Comparable Uncontrolled Price Method".

Relationship with the company

Bal e at half ea e d

Nature of transaction

Unaudited Decem ber 2024

Rupees

Unaudited Decem ber 2023

Rupees

Utah retirement benifits

Benefits rltJe bul now transfer to short term liabil Qty

Stat retirement benefits oaid

Benefits due but now transfer to short term liability paid

Employeus retirement benefits Em

lo ees retirement benefits Employees retirement benefits

Employees retirement benefits

The I oan of Habib Metropolitan Bank is secured by personal guarantees of Shahid Tawawalla Director of Mls Messkay & Femtee Trading Co Pvt I.td & Coprprate Gurantee of Mls Messkay & Femlee Trading Co Pvt Ltd prospective Investor.

SEGMENT INFORMATION

The financial statements have been prepared based on a single reporting segment as the company operates in only one business segment. wNicn is the manufacturing and sale of Plastic drums. The segment information is oresented in a manner consistent wire. the internal management reoorting structure, which has been used by the Company's chief operating decision maker (CODM) to asscse performance and allocate resources

Sales of Plastic Drums

Most of sales of the company are derived from the sale of plastic drums