Transmission of half yearly report for the half year ended 31 december 2025

Half Yearly Report December 31, 2025

SYMBOL OF PACKAGING EXCELLENCE

TABLE OF CONTENTS

1. Corporate Information 2

2. Directors' Report 3

3. Review Report on Condensed Interim Financial Statements To The Members Merit Packaging Limited 4

4. Condensed Interim Statement of Financial Position 5

5. Condensed Interim Statement of Profit or Loss (Un-Audited) 6

6. Condensed Interim Statement of

   Comprehensive Income (Un-Audited) 7

7. Condensed Interim Statement of Changes in Equity (Un-Audited) 8

8. Condensed Interim Statement of Cash Flows (Un-Audited) 9

9. Notes to the Condensed Interim

Financial Statements (Un-Audited) 10

CORPORATE INFORMATION

Board of Directors

Mr. Iqbal Ali Lakhani (Chairman)

Mr. Amin Mohammed Lakhani Ms. Anushka Lakhani

Mr. Aftab Ahmad

Mr. Farrukh Shauket Ansari Mr. Ahmed Munaf

Mr. Sheikh Asim Rafiq

Advisor

Mr. Sultan Ali Lakhani

Audit Committee

Mr. Sheikh Asim Rafiq (Chairman)

Mr. Amin Mohammed Lakhani Mr. Farrukh Shauket Ansari

Human Resource and Remuneration Committee

Mr. Sheikh Asim Rafiq (Chairman)

Mr. Amin Mohammed Lakhani Mr. Aftab Ahmad

Chief Executive Officer

Mr. Sabir Imtiaz

Chief Financial Officer

Mr. Umair Ahmed

Company Secretary

Mr. Mansoor Ahmed

Auditors

BDO Ebrahim & Co.

Chartered Accountants

Bankers - Conventional

Habib Bank Limited

National Bank of Pakistan Soneri Bank Limited MCB Bank Limited

Bankers - Islamic

Meezan Bank Limited

United Bank Limited - Ameen

Al-Baraka Bank (Pakistan) Limited BankIslami Pakistan Limited

Dubai Islamic Bank Pakistan Limited Habib Bank Limited - Islamic Banking MCB Islamic Bank Limited

Shares Registrar

FAMCO Share Registration Services (Private)

Limited, 8-F, Near Hotel Faran, Nursery, Block-6, P.E.C.H.S., Shahra-e-Faisal, Karachi.

Website: https://www.famcosrs.com Email: info.shares@famcosrs.com Phone: (021) 34380101- 5

Fax: (021) 34380106

Registered & Head Office

Lakson Square, Building No. 2, Sarwar Shaheed

Road, Karachi-74200, Pakistan.

Factory

17-B, Sector 29, Korangi Industrial Area, Karachi.

Marketing Divisions

CONTACT US

UAN: +9221 38892147 Ext. 1014, 1008 |

Phone Number: 0341-2464451 Email: info@meritpack.com Web: https://www.meritpack.com

DIRECTORS' REPORT TO THE MEMBERS

Dear Shareholders,

The Board of Directors here by present the financial results of the Company for the half-year ended December 31, 2025.

Financial performance at a glance:

December 31,

2025

2024

Rupees in millions

Financial performance highlights:

During the period under review, the Company's net revenue stood at PKR 1,777 million, representing a 41.77% contraction (PKR 1,275 million) against the corresponding period last year. This topline decline is primarily attributable to reduced sales volumes in the Flexible Packaging segment following the strategic disposal of Gravure machinery. Consequently, the gross margin registered a decrease of PKR 121.6 million compared to the half-year ended December 31, 2024.

The Company recorded an operating loss of Rs. 56 million for the period, compared to an operating profit of Rs. 71 million during the same period last year. However, this was offset by a significant gain of Rs. 506 million realized from the disposal of Gravure machinery. Furthermore, finance costs were optimized, falling to Rs. 60 million (compared to Rs. 101 million last year) due to reduced reliance on running finance facilities-a direct result of the liquidity injected by the asset sale. Consequently, the Company achieved a profit before tax of Rs. 389 million.

In February 2026, the Company received a recovery notice for Super Tax pertaining to taxable income generated from the disposal of land and buildings in 2024. This assessment, amounting to Rs. 120 million, has been duly recognized and adjusted within the current financial statements. Furthermore, in compliance with prevailing tax laws, the Company has recorded an additional provision of Rs. 74 million on account of Super Tax for the current financial year.

Taking into account the above, the Company reported a net profit of PKR 129 million (EPS: Rs. 0.65) for the half year ended December 2025 as compared to the same period last year's net loss of PKR 68 million (LPS: Re. 0.34).

Future prospects

The market of packaging industry remains competitive. The Company's management is making its efforts to implementing strategies to enhance the Company's resilience and operational readiness throughout challenging period.

Acknowledgment

The management would like to express its gratitude to all customers, financial institutions, staff members, suppliers, and shareholders who have been associated with the Company for their continued support and cooperation. It would like to especially thank its sponsors for their continued support during the turbulent times and guidance to drive the Company towards growth and advancement.

On behalf of the Board of Directors

Iqbal Ali Lakhani Sabir Imtiaz

Chairman Chief Executive

Karachi: February 25, 2026

INDEPENDENT AUDITOR'S REPORT ON REVIEW OF CONDENSED INTERIM FINANCIAL STATEMENTS TO THE MEMBERS MERIT PACKAGING LIMITED

Introduction

We have reviewed the accompanying condensed interim statement of financial position of MERIT PACKAGING LIMITED ("the Company") as at December 31, 2025 and the related condensed interim statement of profit or loss, condensed interim statement of comprehensive income, condensed interim statement of changes in equity, condensed interim statement of cash flows and notes to the condensed interim financial statements for the half year ended December 31, 2025 (here-in-after referred as the "condensed interim financial statements"). Management is responsible for the preparation and presentation of these interim financial statements in accordance with approved accounting standards as applicable in Pakistan for interim financial statements. Our responsibility is to express a conclusion on these interim financial statements based on our review.

Scope of review

We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Statements Performed by the Independent Auditor of the Entity." A review of interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial statements is not prepared, in all material respects, in accordance with approved accounting and reporting standards as applicable in Pakistan for interim financial reporting.

Other matter

Pursuant to the requirement of Section 237 (1) (b) of the Companies Act, 2017, only cumulative figures for the half year, presented in the second quarter accounts are subject to a limited scope review by the statutory auditors of the Company. Accordingly, the figures of the condensed interim statement of profit or loss and condensed interim statement of comprehensive income for the quarter ended December 31, 2025 have not been reviewed by us

The engagement partner on the review resulting in this independent auditor's report is Tariq Feroz Khan.

KARACHI BDO EBRAHIM & Co.

DATED:February 27, 2026 CHARTERED ACCOUNTANTS UDIN: RR202510166rfCQIdpTD

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT DECEMBER 31, 2025

December 31,

2025

June 30,

2025

Property, plant and equipment

Operating fixed assets 5

Capital work in progress 6

Right-of-use assets Intangible assets Long-term deposits

Stores and spares Stock-in-trade

Trade debts 7

Loans and advances

Trade deposits and short-term prepayments

Other receivables 8

Tax refund due from Government authorities Taxation - net

Cash and bank balances 9

Assets classified as held for sale 10

Authorized share capital

200,000,000 (June 30, 2025: 200,000,000) ordinary shares of Rs. 10/- each

Issued, subscribed and paid-up capital

199,958,427 (June 30, 2025: 199,958,427) ordinary shares of Rs. 10/- each

Capital reserves

Surplus on revaluation of property, plant and equipment Share Premium Reserve

Revenue reserves General reserves Accumulated losses

Equity portion of loan - associated company

Sub-ordinated loan

Long-term financing 11

Lease liability

Trade and other payables Mark-up accrued

Short-term borrowings

Current portion of long-term financing 11

Current portion of lease liability Un-claimed dividend

Rupees in thousands

2,349,701

11,949 2,361,650

125,852

61

12,249 2,499,812

97,483

545,652

792,651

39,753

71,609

23,676

322,095

127,015

2,657

2,022,589

494,341

5,016,742

2,000,000 1,999,584

942,873

298,325

106,800

(1,766,666)

691,149 2,272,065

250,000

-133,617

383,617

1,445,040

21,952

841,327

46,824

5,787

129

2,361,059 5,016,742

The annexed notes from 1 to 24 form an integral part of these condensed interim financial statements.

Director

Chief Executive Officer

Chief Financial Officer

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS

FOR THE HALF YEAR AND QUARTER ENDED

DECEMBER 31, 2025 (UNAUDITED)

Revenue 13

Cost of sales Gross profit

General and administrative expenses Selling and distribution expenses Other operating expenses

Other income

Gain on disposal of assets classified as held for sale 10

Financial charges

Levy

Taxation 14

Quarter ended December 31,

2025

2024

Rupees in thousands

1,532,247

(1,433,495)

98,752

(63,861)

34,891

-(48,748)

(13,857)

(19,379)

(33,236)

-(33,236)

pee)

(0.17)

The annexed notes from 1 to 24 form an integral part of these condensed interim financial statements.

Director

Chief Executive Officer

Chief Financial Officer

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME

FOR THE HALF YEAR AND QUARTER ENDED

DECEMBER 31, 2025 (UNAUDITED)

Quarter ended December 31,

2025

2024

Profit/(loss) for the period

Other comprehensive income

Total comprehensive income/(loss) for the period

Rupees in thousands

(33,236)

-

(33,236)

The annexed notes from 1 to 24 form an integral part of these condensed interim financial statements.

Director

Chief Executive Officer

Chief Financial Officer

8 MERIT PACKAGING LIMITED

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY

FOR THE HALF YEAR ENDED DECEMBER 31, 2025 (UNAUDITED)

Total comprehensive income for the period ended December 31, 2024 Loss for the period

Transferred from revaluation surplus on property, plant and equipment on

account of incremental depreciation

Transaction with owners

Equity portion of loan

Total comprehensive income for the period ended December 31, 2025 Profit for the period

Transferred from revaluation surplus on property, plant and equipment on account of

Incremental depreciation

Disposal during the period including asset held for sale

The annexed notes from 1 to 24 form an integral part of these condensed interim financial statements.

Director

Chief Executive Officer

Chief Financial Officer

CONDENSED INTERIM STATEMENT OF CASH FLOWS

FOR THE HALF YEAR ENDED DECEMBER 31, 2025 (UNAUDITED)

December 31,

The annexed notes from 1 to 24 form an integral part of these condensed interim financial statements.

Director

Chief Executive Officer

Chief Financial Officer

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE HALF YEAR AND QUARTER

ENDED DECEMBER 31, 2025 (UNAUDITED)

1. NATURE AND STATUS OF THE COMPANY

   1. Merit Packaging Limited ("the Company") was incorporated on January 28, 1980 in Pakistan as a public limited company under the Companies Act,2017 (repealed Companies Ordinance, 1984) and is listed on the Pakistan Stock Exchange. The Company is mainly engaged in the manufacture and sale of printing and packaging materials.

   2. Geographical Location and Addresses of Business Units

      The geographical location and addresses of the Company's business units / immovable assets are as under:

      Business Unit Address

      • Registered office Lakson Square Building No. 2, Sarwar Shaheed Road, Karachi, Pakistan.

      • Factory Plot No. 17-B, Sector 29, Korangi Industrial Township, Karachi, Pakistan.

2. BASIS OF PREPARATION
   1. Statement of compliance

      These condensed interim financial statements have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting.The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprise of:

      • International Accounting Standard (IAS) 34, 'Interim Financial Reporting' issued by the International Accounting Standard Board (IASB) as notified under the Companies Act, 2017 and

      • Provisions of and directives issued under the Companies Act, 2017.

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

        These condensed interim financial statements are unaudited and are being submitted to the shareholders as required under section 237 of the Act. 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 the annual audited financial statements of the Company 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 audited annual financial statements.

   2. Basis of measurement

      These condensed interim financial statements have been prepared under the historical cost convention, except for revaluation of certain property, plant and equipment at fair value and recognition of certain employees retirement benefits at present value.

   3. Functional and presentation currency

      These condensed interim financial statements have been presented in Pakistani Rupee ('Rupees' or 'Rs.') which is the functional and presentation currency of the Company.

3. MATERIAL ACCOUNTING POLICIES INFORMATION

   The material accounting policies and methods of computation adopted in the preparation of these condensed interim financial statements are the same as those applied in the preparation of audited annual financial statements of the Company as at and for the year ended June 30, 2025.

   1. Changes in accounting standards, interpretations and amendments to accounting and reporting standards
      1. Standards, amendments and interpretations to approved accounting standards that are effective during the period ended December 31, 2025

         Certain standards, amendments and interpretations to approved accounting standards are effective for annual accounting periods beginning on January 01, 2025, but are considered not to be relevant or to have any significant effect on the Company's operations (although they may affect the accounting for future transactions and events) and are, therefore, not detailed in these condensed interim financial statements.

      2. Standards, amendments and interpretations to existing approved accounting standards that are not yet effective and have not been early adopted by the Company

      There are certain standards, amendments to the accounting standards and interpretations that are mandatory for the Company's annual accounting periods beginning on or after January 1, 2026, but are considered not to be relevant or to have any significant effect on the Company's operations and are, therefore, not detailed in these condensed interim financial statements.

      The new standard - IFRS 18 Presentation and Disclosure in Financial Statements (IFRS 18) (published in April 2024) with applicability date of January 1, 2027 by IASB. IFRS 18 shall impact the presentation of 'Income Statement' with certain additional disclosures in the financial statements; and

      Amendments to IFRS 9 'Financial Instruments' which clarify the date of recognition and derecognition of a financial asset or financial liability including settlement of liabilities through banking instruments and channels including electronic transfers with effective date of January 1, 2026. The amendment when applied may impact the timing of recognition and derecognition of financial liabilities.

4. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS

In the preparation of the condensed interim financial statements in conformity with the accounting and reporting standards as applicable in Pakistan requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities and incomes and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revision to estimates are recognised prospectively. In preparing these condensed interim financial statements, the significant judgments made by the management in applying the Company's accounting policies and the key sources of estimation uncertainty were the same as those that were applied to the audited annual financial statements as at and for the year ended June 30, 2025.

December 31,

2025

June 30,

2025

December 31,

2025

June 30,

2025

1. CAPITAL WORK-IN-PROGRESS

   Rupees in thousands

   Civil works

   Plant and machinery

   1. Movement in capital work in progress is as follows:

      Opening balance

      Additions during the period /year

      Transferred to operating fixed assets during the period / year Closing balance

2. TRADE DEBTS

   Unsecured - considered good Due from associated companies Others

   Unsecured - considered doubtful

   Others

   Allowance for expected credit losses

3. OTHER RECEIVABLES

   6.1

   2,403

   9,546

   11,949

   115,560

   116,337

   231,898

   (219,948)

   11,949

   102,606 555,423 658,029

   48,681 (48,681)

   - 658,029

   1,291 21,847 1,264 24,402

   389,497

   403,154

   792,651

   48,681

   (48,681)

-

792,651

Unsecured-considered good

Due from associated company 8.1

Receivable from gratuity fund

Others

86

23,589

1

23,676

1. 1. This represents insurance claimed receivable from Century Insurance Company Limited, an associated Company.

2. CASH AND BANK BALANCES Note (Un-audited) (Audited)

   Cash in hand

   Cash at bank - current account

   Islamic Conventional

   Cash at bank - saving account

3. ASSETS CLASSIFIED AS HELD FOR SALE

   Plant and machinery 10.1

   Electrical installation

   10.2

   Rupees in thousands

   December 31,

   2025

   June 30,

   2025

   180

   121 1,236

   1,357 15,315 16,852

   1,257

   915

   484

1,400

-

2,657

489,993

4,348

494,341

1. 1. During the year ended June 30, 2025 the Company classified its plant and machinery, including related electric installation, with a carrying amount of Rs. 494.340 million, being the fair value of assets classified as held for sale, with the objective to make further investment in offset printing segment. In terms of requirements of IFRS 5, the company determined the fair values immediately before their transfer to assets held for sale on the basis of a fair valuation carried out on May 02, 2025 by Joseph Lobo (Pvt.) Limited.

      The Board of Directors in its meeting held on June 03, 2025 approved the disposal of above asset and later the shareholders in its extra-ordinary general meeting dated June 27, 2025 approved the same. Accordingly, subsequent to the year ended June,30 2025 the Company entered into an Asset Sale Agreement with Kompass Pakistan (Private) Limited which interalia caters the purchase of potential customers and goodwill of the business.

   2. During the period ended December 31, 2025, the Company disposed of the asset previously classified as held for sale and received proceeds of Rs. 1,000 million. The transaction resulted in a gain of Rs. 505.606 million, which has been recognized in the statement of profit or loss for the period.

2. LONG TERM FINANCING (Un-audited) (Audited)

   December 31,

   2025

   June 30,

   2025

   Secured - From banking companies Islamic mode

   Dubai Islamic Bank Pakistan Limited

   Less: Current portion shown under current liabilities

   Rupees in thousands

   46,824

   (46,824)

   -

   -

   -

   -

3. CONTINGENCIES AND COMMITMENTS

   1. There were no significant contingencies and commitments as at December 31, 2025. (June 30, 2025: Nil) except for the following:

      Half year ended December 31,

2025

2024

1. 1. During the reporting period the Board of Directors of the Company held an emergent meeting on October, 30 2025 and removed the previous Cheif Executive Officer of the company owing to certain governance matters. The Company is currently assessing the possibility of initiating legal proceedings against the former Cheif Executive Officer. At this stage, the matter remains subject to further evaluation and legal process, and the outcome cannot be determined with sufficient certainty.

2. REVENUE Gross sales Local sales Export sales Less:

   Sales tax Sales return

3. TAXATION Note

   Quarter ended December 31,

   2025

   2024

   2,069,765 30,095

   2,099,860

   (314,456) (8,329)

   (322,785)

   1,777,075

   3,558,352 38,596		975,901 12,394
   3,596,948		988,295
   (542,419)		(145,845)
   (2,496)		(2,113)
   (544,915)		(147,958)
   3,052,033		840,337

   Rupees in thousands Rupees in thousands

   1,777,305

   26,957

   1,804,262

   (270,952)

   (1,063)

(272,015) 1,532,247

Current 14.1 -

Prior 14.2

-

1. 1. This represents provision for super tax for the period ended December 31, 2025 primarily arising from gain on disposal of the asset classified as held for sale.

   2. This represents amount of super tax charged on gain arising out of disposal of land and building in tax year 2024. Subsequent to the period ended December 31, 2025 the Company has made a partial payment toward the liability.

      Half year ended December 31, Quarter ended December 31,

      2025

      2024

      2025

      2024

2. EARNING/(LOSS) PER SHARE - BASIC AND DILUTED

   Earning/(loss) for the period

   Weighted average number of ordinary

   shares (in thousand)

   Note

   Rupees in thousands Rupees in thousands

   129,455

   199,958

   0.65

   (68,212)	(342,541)
   199,958	199,958
   (0.34)	(1.71)

   (33,236)

   199,958

   Earnings/(loss) per share (Rupee) 15.1 (0.17)

   1. There is no dilutive effect on the basic earnings / (loss) per share of the Company during the reporting period.

      Half year ended December 31,

3. CASH GENERATED FROM OPERATIONS Note

   2025

   2024

   Rupees in thousands

   Profit / (loss) before taxation

   Adjustment for non-cash and other items:

   Financial charges Depreciation Amortization

   Written of property, plant and equipment

   Profit on disposal of property, plant and equipment including held for sale

   Profit before working capital changes

   Working capital changes 16.1

   1. Working capital changes (Increase) / decrease in current assets:

      Stores and spares Stock-in-trade Trade debts

      Loans and advances

      Trade deposits and short term prepayments Other receivables

      Tax refund due from Government authorities

      (Decrease) / increase in current liabilities:

      Trade and other payables (excluding provision for taxation)

      (29,871)

      100,634

      115,548

      46

      -

      -

      389,128

      60,414 98,809 46 4,053 (507,306)

      (343,984)

      45,144 (161,895) (116,751)

      (63,143) 126,782 134,622 (44,002) (650) (726) 15,452 168,333 (330,228) (161,895)

      216,228

      186,357

      (46,597)

      139,760

      (33,575)

      (180,530)

      (292,104)

      (1,134)

      64,547

      (737)

      (66,556)

      (510,089)

      463,492

      (46,597)

4. TRANSACTIONS WITH RELATED PARTIES

   1. The related parties comprise of related group companies, local associated companies, staff retirement funds, directors and key management personnel. Transactions with related parties and remuneration and benefits to key management personnel under the terms of their employment are as follows:

      2025

      2024

      Quarter ended December 31,

2025

2024

HALF YEARLY REPORT 2026 15

Rupees in thousands

December 31,

2025

June 30,

2025

approved by the Board of Directors.

1. SEGMENT REPORTING

   These condensed interim financials statements have been prepared on the basis of single reportable segment.

2. FAIR VALUE HIERARCHY

   Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transactions between

   market participants at the measurement date.

   Underlying the definition of fair value is the presumption that the Company is a going concern and there is no intention or requirement to curtail materially the scale of its operations or to undertake a transaction on adverse terms.

   A financial instrument is regarded as quoted in an active market if quoted prices are readily and regularly available from an exchange dealer, broker, industry group, pricing service or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm's length basis.

   IFRS 13 'Fair Value Measurement' requires the Company to classify fair value measurements and fair value hierarchy that reflects the significance of the inputs used in making the measurements of 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 either directly or derived from prices.

   Level 1

   Level 2

   Level 3

   Total

   Level 3: inputs for the asset or liability that are not based on observable market data (unadjusted) inputs. The following table shows the fair values of non-financial asset including their level in the fair value hierarchy:

   Rupees in thousands

   December 31, 2025 (Unaudited) - Plant and machinery	-		-	2,062,786		2,062,786
   June 30, 2025 (Audited) - Plant and machinery	-		-	2,127,652		2,127,652
   There are no transfers during the reporting period.

   As of the reporting date, none of the financial instruments of the Company are carried at fair value.

   The carrying values of all other financial assets and liabilities reflected in the financial statements approximate their fair values.

3. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

   The Company's financial risk management objective and policies are consistent with that disclosed in the annual audited financial statements for the year ended June 30, 2025.

4. SHARIAH COMPLIANCE STATUS DISCLOSURE (Un-audited) (Audited)

   December 31,

   2025

   June 30,

   2025

   Bank balances that are shariah-compliant	15,436	915
   Disclosures in relation to the statement of financial position - Liability Long term financing as per Islamic mode	-	46,824
   Short term financing as per islamic mode	99,787	349,976
   Markup accrued on conventional mode of financing	10,016	20,270

   Disclosures in relation to the statement of financial position - Assets

   Rupees in thousands

   Disclosures in relation to the statement of profit or loss and other comprehensive income

   Profit paid on islamic mode of financing Markup paid on conventional mode of financing

   Profit earned on saving accounts from shariah-compliant banks Other income non-compliant

   Half year ended December 31,

   2025

   2024

   19,125

   25,749

   2,045

   19,271

   Rupees in thousands

   42,707

   33,448

   -13,608

5. CORRESPONDING FIGURES

   Corresponding figures have been rearranged and reclassified, wherever necessary for the purpose of comparison and better presentation.

6. GENERAL

   Amounts have been rounded off to the nearest thousand of rupees unless otherwise stated.

7. DATE OF AUTHORIZATION FOR ISSUE

These condensed interim financial statements were authorized for issue on February 25, 2026 by the Board of Directors of the Company.

Director

Chief Executive Officer

Chief Financial Officer

JOG**

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FSSC 22000

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CR'IHCP/MPL

info@meritpack.com

https://www.meritpack.com

17-B, Sec 29, Korangi Industrial Area, Karachi-75180/Pakistan