Transmission of Quarterly Financial Statements for the Period Ended September 30 2025

UN-AUDITED

QUARTERLY ACCOUNTS

FOR THE PERIOD ENDED

September 30, 2025

MandviwallaKlD-wtSBm Plastic Industries Limited

MANDVIWALLA MAUSER PLASTIC INDUSTRIES LIMTED COMPANY INFORMATION

Board of Directors

Mi . Abdul Qadir Shiwani Mr. Azeem H. Mandviwalla Nlr. S. Asghar Ali

Mr. Shamim Ahmed Khan Mr. Tariq Mehmood

Mr. Naseer Ahmed Mrs. Huma Danigar

Board of Audit Committee Mr. Naseer Ahmed

Mr. Tariq Mehmood

Mr. Shamim Ahmed Khan

Company Secretary Ms. Hina Ambreen

Bankers

Habib Metropolitan Bank Limited

Audi*nrs

Ibrahim Shaikh & Co. Chartered Accountant

Tax Consultants

F.A.K. Tax consultant

Legal Advisor

Tasawur Ali Hashmi (Advocate)

M/S HUSSAIN ADVISORS-ISLAMBAD

Registered Office

Mandviwalla Building, Old Queens Road, Karachi -74000.

Tel: 02 I -32441116-9 Fax02l-32441276

Website: https://www.mandviwallamauser.com

E-moi1: inti› tjr3ndviw_'a 11a.net

Shares Registrar

Registrar THK Associates (Pvt.) Limited Plot No. 32-C, Jami Commercial Street 2, D.FI.A., Phasc VII,

Karachi-75500. Pakistan. (02 l - 11 1-000-322)

Chairman /Director Chief Executive/Director Director

Director Director

Independent Director Female Director

Chairman Member Member

Factory

C-5, Uthal Industrial Estate,

Uthal, District Lasbella, Baluchistan.

Tel: 0853-610333, 0853-203218, Fax: 0853-610393

New Factory Location: - A79'B, Eastern Industrial Zone, Port Qasim Authority, Karachi

DIRECTORS REVIEW REPORT

For the First Quarter Ended September 30, 2025

Dear Members

The Board of Directors of Mandviwalla Mauser Plastic Industries Limited extends a warm welcome to the shareholders and is pieaseci to present time un-auciited financiai statements of the Company for ihe first quarter encieci SeptemDer 3u, 2u25

The first quarter of the Financial Year 2026 (FY26) has been a period of exponential growth for the company. The approval of a significant capital expenditure plan worth PKR 250 million during this quarter stands as a testament to our confidence in the industrial packaging sector of Pakistan.

The growth in the chemical export sector increased the demand for dFLims during the first quarter Raw Material prices remaineo staoie whereas demand in the iocai maiket showed a remarkable improvement

Company Performance Review

Mandviwalla Mauser Plastic Industries maintained steady t›!ant operations and supply to its key clients througho«t the quarter, respite iGgistlca! challeisges, The company's Doard approved a sigtsificani strategic expansion, inv'oIving a F'KR

250 million investment in new. state-of-the-art rriachinery to enhance prodrJction capacity, modernize technology, and improve prociuct quality in anticipation of rising cienJand

The company achieved exceptional financial growth during the lii st quarter ending September 30, 2025, compared to the same period last year Net sales grew by 91.54*4. rising from PKR 235 9 million to PKR 451.7 million. This surge in activity led to a 111.55% increase in gross profit. while net profit after tax saw a r emarkable jump of 154.67%, reaching PKR 48.1

improved significantly from 0 66 to 1 .67. These results highlight a very strong start to the year and a major improvement in

overall ousiness performance.

Effective cosi controi anci [procurement strategies supportecl increased gross margins and profitability during the quarter while the company's overall liquidity position remained strengthened.

Future Outlook:

The outlook for the remainder of FY26 is one of cautious optimism, supported by the economy's gradual recovery. Headline inflation is expected to moderate from its September spike, with a potential reduction in the policy rate later in the fiscal year, which would lower borrowing costs for industry. The company's strategic focus will be on executing its approved expansion plan, enhancing market penetration, improving operational efficiency, and aligning with sustainability initiatives. The Board remains confident that these strategic investments and a strong balance sheet position the company to navigate short-term challenges and capitalize on medium-term growth opportunities.

Acknowledgment

The Board of Directors places on record its appreciation for the continued trust and confidence reposed in the Company by its shareholders, customers, and financial institutions. We also wish to acknowledge the dedication and hard work of our employees, whose commitment has been instrumental in achieving these results during a challenging period. We express our gratitude to the Securities and Exchange Commission of Pakistan (SECP), the Pakistan Stock Exchange (PSX), and the State Bank of Pakistan for their continued guidance and support.

On behalf f Bo d f Dir ors

Azeem Hakim Mandviwalla Chief Executive

Karachi

Dated: 08-01-2026

b Qa Shiwani

Chairman/Director

2024 30 2025 30

MANDVIWALLA MAUSER PLASTIC INDUSTRIES LIMITED

CONDENSED INTERIM STATEMENT OF FINANCIAL POSTPON AS AT SEPTEMBER 30, 2025

ASSETS

Note

Unaudited

September 30,

2025

Rupees

Audited June 30,

2025

Rupees

Provis:'on for taxation

36,E52. 570

TOTAL EQUITY AND LIABILITIES

CONTINGENCIES AND COMMITMENTS

519,112,773

8

548 740,796

T›^e annexed notes to 12 form an integral part of these condensed interim financial statements

Chief Executive Dire or

MANDVIWALLA MAUSER PLASTIC INDUSTRIES LIMITED

CONDENSED INTERIM STATEMENT OF PROFIT AND LOSS - UNAUDITED FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

September 30,

2025

Note Rupees

September 30,

2024

Restated Rupees

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

Chief Executive Direct Chief Financial Officer

MANDVIWALLA MAUSER PLASTIC INDUSTRIES LIMITED

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME - UNAUDITED FOR THE THREE MONTH PERIOD ENDED SEPTEMBER 30, 2025

The annexe o s 1 o 12 m an integral part of the condensed interim financial state s.

Chief Executive Dir or, Chief Financial Officer

MANDVIWALLA MAUSER PLASTIC INDUSTRIES LINIITED

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY

AS .^.T SEPTEMBER 30. 2025

the annexed notes to 2 for an i ra! part of these condensed inlerim financial statements

Director Chief Financial Officer

f7iAi4DVl'WALLA f7AUSER PLVSTIC INDUS RIES LIM!TED

CONDENSED INTERIM STATEMENT OF CASHFLOWS - UNAUDITED FOR THE THREE MONTH PERIOD ENDED SEPTEMBER 30, 2025

September 30, September 30,

2025 2024

Restated

CASH FLOWS GENERATED FROM OPERATIONS

Profit /!Ioss) befor. !uxaticn

1 ,71 8.435

,341 589

714,947

8 1 78, 544

1 .693 085

1 197,733

1,5*1 376

1 .399.266

5, 062,107

Depreciation on property plant and quipment Depreciation on leased assets

Pro /isior. for staff gratuity ROUA Ad ustment

Financiai and other cheroes

11,953. 315 10,98*. 557

7g 732. 931 *5. 7.^J2*

Working capital changes

(Increase) /decrease in current assets

Sto res. spa re and loose tools

Stock-in-trade Trade receivables Other Receivable

35,182,873

(68,820 965)

Increase /(decrease) in current IiabiIities

<<+ -+ - -.. !

Income tax paid Staff gratui!y pe!d

Emp'oyees' compensated absences paid

LOñ? term Q /O5US

'inancial anrJ otl°.er charges paid

N'et cash inflow/(outflow) from operating activit'es CASH FLOWS FROM INVESTING ACTIVITIES

Addition into the property, plant and equopment Sale proceed of property, plant and equipment Sale proceed of long term deposits

Net cash inflow/(outflow) from investing activities

(545,604

(13,611 56))

(13,669, 050}

{59.52 .3g1 )

(470, 000)

(1,772.2*0)

{470, 000)

J22 °

Suhordinated Loan

Repayment of Long term Loans

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

Ad ustment for non-cash charges and other items

Note

Rupees 67779%15

Rupees 25,943, S?5

Chief Executive Director

Chief Financial Officer

MANDVIWALLA MAUSER PLASTIC INDUSTRIES LIMITED

NOTES TO THE CONDENSEO INTERIM FINANCIAL STATEMENTS - UNAUDITED FOR THE THRI2E MONTH PERIOD ENDED SEPTEMBER 30, 2025

The company was incorporated in Pakistan on June 13, 1988, as a public limited company The company is 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 the company ir situated at Mandviwalla Building, Old Queens Road, Karachi. The Plant is Located at A-68/B, Eastern Industrial Zone, Port

1.1 GOING CONCERN ASSUMPTION

The company reported a net profit of Rs. 48.12 million for the quarter ended, which has reduced the accumulated losses to Rs. 236.95 million. Additionally, the net shareholders' equity showed a positive trend, increasing to Rs. 166.24'million as of September 30, 2025.

The management remains confident in the company's ability to continue as a going concern Active measures are being implemented to steer the company towards sustained profitable operations. Furthermore, the company's sponsors have reaffirmed their commitment to providing unwavering support. ensuring the company is equipped to navigate these challenging times

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

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 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.

These condensed 'nterim financial statements do not include all the iniotmation and disclosures required in the annual audited financial statements, and should be read in conjunction with Company's annual audited financial statements for the year ended June 30,2025.

2.1 Changes in accounting standards, interpretations and pronouncements Standards and amendments to approved accounting standards that are effective

There are certain amendments and interpretations to the accounting and reporting standards which are mandatory for the Company's annual accounting period beginning July 01 . 2025. However, these do not have any significant impact on the Company's financial reporting.

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 Ihe Company's annual accounting periods beginning on or after July 01, 2025. however. these are considered either not to be relevant or to have any significant impact

1. CHANGES IN ACCOUNTING POLICY AND ERROR

   1. SIGNIFICANT ACCOUNTING POLICIES

      The accounting 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, 2025.

   2. PRORPERODERROR

      During the year the company had Changed its treatment for recording payment of rental expense for land as an expense and advance rent as prepayments to Right of use Assets criteria for recognition in accordance with the requirement of IFRS -16. The error has been rectified retrospectively in accordance with the requirements of IAS 8 'Accounting Policies, Changes in Accounting Estimates and Errors' and comparative figures have been restated.

      The effect of error are summaries below:

      
      
      

      Effect on statement of financial position Property, plant and equipment

      As at September 30 2024 As previously reported Impact

      As-restated

      Right of use asset on land

      Building on leasehold land

      37,129,738 37,129,738 (3,547,46T)

      Right of use asset on building

      3,547.468

      3,547468

      Deferred Liability

      Staff Gratuity

      Trade And Other Payables

      Current maturity lease		9, 147,948	9,147,948
      Lease Liaoility		29,808,199	29,808, 199
      Effect on statement of chanqes in equitv Accumulated Losses	(330, 289, 212)	(892,6T8)	(329,396,534)

      Rent Payable Lease Liability

      29 565,240

      729,579

      1,990,048

      (729,579)

      27,575,192

      Statement of Profit or LOSS ACcount Cost of Sales

      Rent Expenses

      Deprecia1ion on Lease Assets

      For the quarter ended September 30,20t4

      As previously reported Impact As-restated

      6,783.378 (6,783,378)

      (1,197,733) ( 1,197,733)

      Financial Costs

      Interest on Lease Assets

      Other Charges/income

      ROU Adjustments

      2,301,770

      1.399.266

      2,301,770

      1,399.266

      MANDVIWALLA MAUSER PLASTIC INDUSTRIES LIMITED

      NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS - UNAUDITED

      	Un-Audited	Audited
      Note	September 30, 2025	June 30, 2025
      	Rupees	Rupees
      PROPERTY, PLANT AND EQUIPMENT 4.1	100,462.833	101,750.627

      FOR THE THREE MONTH PERIOD ENDED SEPTEMBER 30, 2025

      4

2. .1 Operating fixed assets Capital work-in-progress

   4.2

   100,462,833

   101,750,627

   
   
   

   100,462,833 101,750,627

   100 462,833 101,750 627

   4.2	Operating fixed assets
   	Opening written down value	101,750,627	102,872,047
   	Addition during the period	1 772,230	6 987 001
   	Disposal during the period	103.522.857	109,859.048
   	Depreciation charged durino the period	(3, 060, 024)	'13.862,556)

   ROUA Adjustment

   Closing wñtlen down value

3. STOCK-IN-TRADE

   Raw materials

   Raw materials in bond Finished goods

   5,754,235

   100 462,833 101 750 627

   
   
   

   147,504 188	102,669,220
   18,255,382	48, 107,719

   165,759,570 150.776,939

   Less: Provision for slow moving finished goods

4. CASH AND BANK BALANCES

Cash in hand

Pay order in Hand

Cash at banks - in current accounts Local currency

Cash margin with banks

(422,667) (422.667)

165,336,903 150,354,272

6,908,182

65,537

6.908,182 65,537

6,908,182 65,537

Total

156,06$,294 260,305,023

There have been no new contingencies or commitments arising during the period. The company continues to manage ‹ts existing commitments and contingencies in line with the prior period's disclosures. No additional liabililies or potential obligations have been recognized as of 1he reporting date.

Unaudited Unaudited September 30, September 30,

2024 2023

Rupees Rupees

49,850,319 15,614,210

361,155,643 197,981,638

MANOVIWALLA MAUSER PLASTIC INDUSTRIES LIMITED

NOTESTOTHEGONDENS£DTNTERM MNANCALSTATEMENTS-UNAUDITED

FORTHETHREEMONTHPEROD ENDEDSEPTEMBER30,2025

10 TRANSACTIONS WITH RELATED PARTY

Related parties of the company comprise of associated companies, directors. key management personnel and staff retirement benefit fund All the transactions with related parties are entered into at agreed terms as approved by the Board of Direc1ors of lhe Company. The related panies* status of outstanding receivables and payables. if any, as at September 30, 2025 and June 30, 2025 are disclosed in respective notes to these condensed interim financial statements. Details of transactions with related parties, oher than those which have been specifically disclosed elsewhere in these condensed interim financial statements are as follows:

Relationship with the company

Balances at quarter-end:

Directors

Chief executive director - Azeem Hakim Mandviwalla Chief executive director - Azeem Hakim Mandviwalla Prospective Investor

Meskay and femtee trading private limited company

Staff gratuity payable Benefits due but not paid

Nature of Unaudited Unaudited transaction September 30, September 30,

2025 2024

Rupees Rupees

Sub-ordinated Salary payable

Short term borrowings Trade and other payables

Trade and other

payables

Transaction during the quarter: Staff retirement benefits

Leave Encashment

Benefits paid

Staff retirement benefits paid

Adminisrative Expense Administrative

Expense Administrative Expense

545.604

57,893

206,420

The financial statements have been prepared based on a single reposing segment as the company operates in only one business segment, which is the manufacturing and sale of plastic barrels. The segment information is presented in a manner consistent with the internal management reporting structure, which has been used by the Company's chief operating decision maker. (CODM) to assess performance and allocate resources.

Sales of Plastic Barrels

Most of sales of the company are derived from the sale of plastic barrels.

Revenue by Geographical Area:

The company's sales to customers in Pakistan accounted for 100% of the total revenue for the quarter ended September 30, 2025. as well as the quarter ended September 30, 2024.

There were no sales to external customers in any other geographic region.

Customer Concentration:

The company's sales to four major customers represented 54°4 of total sales during the quarter ended September 30, 2025 September 30, 2024: 75%).

Non-current Assets by Geographical Area

Non-current assets (property, plant, and equipment) of the company as at September 30, 2025. and September 30, 2024, are entirely located in Pakistan. The company does not have non-current assets in other geographical regions.

Segment Performance

Since the company operates as a single segment, no further breakdown of performance by segment is disclosed. Segment assets:

All assets of the company, including non-current assets, are allocated to the single segment.

1. GENERAL

   1. This condensed interim financial information is presented in Pak rupees, which is the company's functional and presentational currency. The

      financial statements have been prepared under the historic cost convention. Figures have been rounded off to nearest rupee, unless stated

      otherwise.

      hief Fin ncial Officer

      
      
      
      
      
      

   2. These financial statements were authorized for issue 8-Jan-2026 by the Board of Directors of the Company

Chief Executive Director •^