Transmission of Quarterly Report for the Period Ended - December 31, 2025

REPOR T DE CEMBER

Mr. Khalid Siddiq Tirmizey - Chairman

Mr. Zafar Mahmood - Chief Executive Officer Mr. Khalid Mumtaz Qazi

Mr. Muhammad Yahya Khan Mr. Shahzeb Khalid

Mr. Muhammad Ali Mrs. Nazia Qureshi

Mrs. Mahnoor Mansoor Jawaid

Syed Sajid Nasim

Mr. Muhammad Inam-ur-Rahim

Mr. Umair Tahir

Crowe Hussain Chaudhury & Co. Chartered Accountants

Mr. Muhammad Ali - Chairman Mrs. Nazia Qureshi

Mrs. Mahnoor Mansoor Jawaid Mr. Shahzeb Khalid

Mrs. Nazia Qureshi - Chairperson Mr. Shahzeb Khalid

Mr. Zafar Mahmood

Mr. Khalid Siddiq Tirmizey - Chairman Mr. Muhammad Yahya Khan

Mrs. Mahnoor Mansoor Jawaid

Corplink (Pvt.) Limited

Wings Arcade, 1-K Commercial, Model Town, Lahore. Pakistan. Tel: +92 42 35916714 & 19

Fax: +92 42 35869037

https://www.corplink.com.pk

M/s Hassan & Hassan Advocates

Al Baraka Bank (Pakistan) Limited Askari Bank Limited

Bank Alfalah Limited

Bank Islami Pakistan Limited Habib Bank Limited

Habib Metropolitan Bank Limited JS Bank Limited

MCB Bank Limited Meezan Bank Limited

Pak Brunei Investment Company Limited Soneri Bank Limited

The Bank of Punjab The Bank of Khyber

14.5 Km, Lahore-Sheikhupura Road, Lahore, Pakistan.

Tel : +92 42 37971512-14

Fax: +92 42 37970229

122-B, New Muslim Town, Lahore, Pakistan.

Tel : +92 42 35926090-93

Fax: +92 42 35926099

607, Progressive Centre, Block-6, PECHS, Shahrah-e-Faisal, Karachi. Tel : +92 21 34327661-62

https://www.nimir.com.pk

The Directors are pleased to present their review report together with un-audited financial statements of Nimir Resins Limited (the “Company”) for the half year ended December 31, 2025.

During the period under review , the Company’s top line recorded significant growth, resulting in a 23% increase in net sales. Gross profit increased by approximately 14%, while operating profit grew by over 10%. Every business segment experienced higher turnover and profitability, outperforming last year and successfully meeting the annual business plan. Profit before taxation, primarily supported by a significant reduction in finance costs, increased by approximately 50%. Earnings per share were recorded at PKR 1.15 as compared to PKR 0.95 in the corresponding period of the preceding year, reflecting an increase of about 21%.

During the first half of FY-2026, macroeconomic stabilization became increasingly evident, supported by gradual improvements in economic activity and market sentiment. As the economy continued its transition toward a more predictable and disciplined policy framework, financial stress indicators moderated and business confidence improved cautiously. While certain risks persist, the evolving macroeconomic environment appears increasingly conducive to a sustainable economic recovery.

During the period, inflation continued to ease, declining to 5.2% in the first half of FY-26, which led to a reduction in the policy (discount) rate to 10.5%. This has contributed to a reduction in finance costs and improved financial conditions for businesses. The exchange rate remained stable throughout the period and is expected to remain stable in the near future. Domestic demand and economic activity also recovered, reflecting gradual economic normalization.

In view of these developments, the Management expects improved performance in the second half of the year and remains committed to achieving better results.

On behalf of the board, we extend our heartfelt appreciation to the shareholders, employees, suppliers, customers and bankers for their continued confidence and support during this time of challenges and look forward to a productive second half of the financial year.

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2026 17

INDEPENDENT AUDITOR’S REVIEW REPORT TO THE MEMBERS OF NIMIR RESINS LIMITED

Introduction

We have reviewed the accompanying condensed interim statement of financial position of NIMIR RESINS 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, and condensed interim statement of cash flows, and notes to the condensed interim financial statements for the six-month period then ended (here-in-after referred to as the “interim financial statements”). Management is responsible for the preparation and presentation of these interim financial statements in accordance with accounting and reporting standards as applicable in Pakistan for interim financial reporting. Our responsibility is to express a conclusion on these 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 Information Performed by the Independent Auditor of the Entity”. A review of interim financial statements consists of making inquiries, primarily of persons responsible for the 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 are not prepared, in all material respects, in accordance with the 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 three months period ended December 31, 2025 have not been reviewed by us.

The engagement partner on the review resulting in this independent auditor’s review report is Amin Ali.

Lahore

February 18, 2026 CROWE HUSSAIN CHAUDHURY & CO.

UDIN: RR202510051FEsAw1n1d Chartered Accountants

AS AT December 31, 2025 (UN-AUDITED)

December 31

June 30

The annexed notes from 1 to 19 form an integral part of these condensed interim financial statements (un-audited).

FOR THE HALF YEAR AND QUARTER ENDED DECEMBER 31, 2025 (UN-AUDITED)

Half Year Ended December 31,

Quarter Ended December 31,

2024 2024

Note (Rs. ‘000’) (Rs. ‘000’) (Rs. ‘000’) (Rs. ‘000’)

Revenue from sales Less:

- Sales tax Net sales

Cost of sales 11

Gross Profit

Operating expenses:

• Distribution costs

• Administrative expenses

Operating Profit

Other operating expenses Finance cost

Other income

Profit before Levy and Taxation

Levy / final taxation Porfit before taxation

Taxation 12

Net profit for the Period

Earnings per Share - Basic and Diluted

The annexed notes from 1 to 19 form an integral part of these condensed interim financial statements (un-audited).

FOR THE HALF YEAR AND QUARTER ENDED DECEMBER 31, 2025 (UN-AUDITED)

Half Year Ended December 31,

Quarter Ended December 31,

2024 2024

(Rs. ‘000’) (Rs. ‘000’) (Rs. ‘000’) (Rs. ‘000’)

Net Profit for the Period

Other comprehensive income

or loss

Period

profit or loss

Items that may not be re-classified to Items that may be re-classified to profit Total Comprehensive Income for the

The annexed notes from 1 to 19 form an integral part of these condensed interim financial statements (un-audited).

8 Nimir Resins Limited

FOR THE HALF YEAR ENDED DECEMBER 31, 2025 (UN-AUDITED)

Balance as at June 30, 2024

Net profit for the period

Other comprehensive loss for the period

Total comprehensive income for the period

Incremental depreciation for the period on surplus on revaluation of property, plant and equipment - net of deferred tax

Transfer of revaluation surplus related to disposal of asset - net of deferred tax

Transactions with owners

Final dividend - 2024

The annexed notes from 1 to 19 form an integral part of these condensed interim financial statements (un-audited).

FOR THE HALF YEAR ENDED DECEMBER 31, 2025 (UN-AUDITED)

Half Yearly Ended December 31,

The annexed notes from 1 to 19 form an integral part of these condensed interim financial statements (un-audited).

1. The Company and its Operations

   1. Nimir Resins Limited (the Company) was initially incorporated in Pakistan on December 17, 1964 as a private limited company under the repealed Companies Act, 1913 (now the Companies Act, 2017). It was converted into a public limited company on August 19, 1991. Subsequent changes in the Company’s name, management, and shareholding structure were carried out from time to time in accordance with applicable laws and regulatory approvals. Following a change in the shareholding of the Company, the Board of Directors was reconstituted on January 05, 2016.

   2. The Company is domiciled in Pakistan and the principal activity of the Company is to manufacture surface coating resins, polyesters for paint industry, optical brightener and textile auxiliaries for textile industry. The shares of the Company are quoted on Pakistan Stock Exchange Limited.

   3. The geographical location and address of the Company is as under:

      Business Unit Geographical Location

      Registered Office / Production Plant / Factory 14.5KM,Lahore-Sheikhupura Road, Lahore Head Office 122 B New Muslim Town , Lahore

   4. During the year ended June 30, 2025, a significant change occurred in the shareholding structure of the Company. Rudolf Pakistan (Private) Limited initially had 5,819,360 ordinary shares, representing 4.12%. Rudolf Pakistan (Private) Limited acquired 20,838,765 ordinary shares, representing 14.74% of the Company’s total paid-up capital, through a Public Announcement of offer pursuant to material information disclosure made by the Company on December 31, 2024. Subsequently, Rudolf Pakistan (Private) Limited acquired additional 30,000,000 ordinary shares, representing 21.23% from the Sponsors’ under a Share Purchase Agreement by making total shareholding of 56,658,125 ordinary shares, representing 40.09%.

2. Basis of Preparation

   1. 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:

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

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

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

   2. These condensed interim financial statements comprise of the condensed interim statement of financial position of the Company, as at December 31, 2025 and the related condensed interim statement of profit or loss, the condensed interim statement of comprehensive income, the condensed interim statement of changes in equity and the condensed interim statement of cash flows together with the notes forming part thereof.

   3. These condensed interim financial statements are unaudited and have been subjected to limited scope review by the external auditors as required by Section 237 of the Companies Act, 2017. The figures for the quarters ended on December 31, 2024 and 2025 presented in these condensed financial statements have not been reviewed by the external auditors.

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

   5. These condensed interim financial statements are presented in Pak rupees, which is the Company’s functional and presentation currency. Figures have been rounded off to nearest thousand rupees, unless stated otherwise. These condensed financial statements do not include all the information required for annual financial statements and therefore, should be read in conjunction with the annual financial statements of the Company for the year ended June 30, 2025.

3. Material Accounting Policy Information

   The accounting policies and methods of presentation of these condensed interim financial statements are the same as those followed in the preparation of annual financial statements for the immediately preceding financial year ended June 30, 2025.

4. Accounting Estimates and Judgment

   The accounting estimates and associated assumptions used in the preparation of these interim financial statements are consistent with those applied in the preparation of annual financial statements of the Company for the immediately preceding year ended June 30, 2025.

5. Property, Plant and Equipment

   Operating fixed assets 5.1

   Capital work in progress 5.2

   (Un-audited) (Rs. ‘000’)

   June 30,

   December 31,

   2025

2025

(Audited) (Rs. ‘000’)

1. Operating fixed assets

   Opening written down value Additions during the period / year Disposals during the period / year

   Depreciation charge for the period / year Disposals during the period / year

2. Capital Work in Progress

   Opening balance

   Additions during the period / year

   Transferred to property, plant and equipment Transferred to right of use asset

1. Lease Liabilities

   (Un-audited) (Rs. ‘000’)

   June 30,

   December 31,

   2025

2025

(Audited) (Rs. ‘000’)

1. The Company acquired vehicles from different banks under finance lease arrangements, for a period of 60 months. Present value of minimum lease payments has been discounted using interest rate ranging from 3 months to 1 year KIBOR with a spread of upto 2% (June 30, 2025: 3 months to 1 year KIBOR with a spread of upto 2%). Rentals are paid in equal monthly instalments. Taxes, repairs and insurance costs are borne by the Company. In case of earlier termination, the Company will be required to the pay entire principal portion of the rentals for unexpired period of lease agreement. These vehicles are registered exclusively in the name of respective banks.

2. There are no variable lease payments in the lease contracts. There are no leases with residual value guarantees or leases not yet commenced to which the Company is committed.

1. Trade and Other Payables

   Local creditors - Unsecured Foreign creditors - Secured Accrued liabilities

   Contract liabilities

   Workers' (profit) participation fund Workers' welfare fund

   Sales tax payable - net

   (Un-audited) (Rs. ‘000’)

   June 30,

   December 31,

   2025

2025

(Audited) (Rs. ‘000’)

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

1. Short Term Borrowings

   (Un-audited)

   June 30,

   December 31,

   2025

2025

(Audited)

(Rs. ‘000’) (Rs. ‘000’)

1. Terms and conditions of borrowings Purpose

   747,221

   663,695

   1,905,933

   2,569,628

1,313,248

2,060,469

The Company has obtained various funded and unfunded financial facilities from different banks for a total sanctioned limit of Rs. 6,975 million (June 30, 2025: Rs. 6,575 million) including running finance facilities amounting to Rs. 1,225 million (June 30, 2025: Rs. 1,225 million) to meet its working capital requirements, retirement of local and foreign LCs, discounting local bills / receivables and loan against trust receipts etc. Unutilized amount of funded and unfunded facilities are Rs. 4,099 million (2025: Rs. 4,514 million).

Mark-up on short term borrowings is charged using 1 to 6 Months KIBOR+ spread of up to 1.25% (June 30, 2025: 1 to 6 Months KIBOR + spread of up to 1.25%) per annum. Mark up is payable on monthly / quarterly basis in arrears or at the time of adjustment of liability whichever is earlier. Furthermore, some limits carry commission against foreign and local LCs at 0.05% to 0.10% (June 30, 2025: 0.05% to 0.10%) per quarter.

These facilities are secured by a joint pari passu and ranking hypothecation charge over the Company’s present and future current assets, along with a lien over the title of imported goods and personal guarantees from the Company’s principal sponsors.

1. Current Portion of Long Term Liabilities

   Liabilities against assets subject to finance lease Long term financing

2. Contingencies and Commitments
   1. Contingencies

      (Un-audited) (Rs. ‘000’)

      June 30,

      December 31,

      2025

2025

(Audited) (Rs. ‘000’)

11,838

5,000

16,838

There are no material contingencies outstanding as at reporting date (June 30, 2025: Nil).

1. Guarantees

   Sui Northern Gas Pipelines Limited Pakistan State Oil Company Limited Total Parco Pakistan Limited

2. Commitments

   Letters of credit Lease liabilities

   Capital work in progress - Capital expenditure

   (Un-audited) (Rs. ‘000’)

   June 30,

   December 31,

   2025

2025

(Audited) (Rs. ‘000’)

44,525

6,000

8,000

58,525

611,689

11,838

4,687

628,214

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

December 31,

1. Cost of Sales Half Year Ended

   Quarter Ended December 31,

   2025 2024 2025 2024 (Rs. ‘000’) (Rs. ‘000’) (Rs. ‘000’) (Rs. ‘000’)

   638,822 5,257,855

   5,896,677 (609,784)

   5,286,893

   559,362 3,022,714

   3,582,076 (609,784)

   2,972,292

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

   Opening stock of finished goods Cost of goods manufactured

   Closing stock of finished goods Cost of goods sold

2. Taxation

746,577

4,061,518

4,808,095

(567,155)

2025

4,240,940

2024

678,998

2,189,439

2,868,437

(567,155)

2,301,282

2024

Current tax:

• Current period

• Super tax

• Prior period adjustments Deferred tax

(Rs. ‘000’) (Rs. ‘000’) (Rs. ‘000’) (Rs. ‘000’)

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

Half Yearly Ended December 31,

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

1. Transactions with Related Parties

   Related parties comprise associated companies due to common directorship, staff retirement funds, directors and key management personnel. The Company in the normal course of business carries out transactions with various related parties. The Company enters into transactions with related parties on the basis of mutually agreed terms. Significant balances and transactions with related parties are as follows:

   Half Year Ended December 31,

Sale and purchase transactions have been carried out on commercial terms and conditions as per the Company’s Policy.

1. Financial Risk Management

   The Company’s financial risk management objectives and policies are consistent with those disclosed in preceding audited annual financial statements for the year ended June 30, 2025.

2. Segment Reporting

   1. A business segment is a group of assets and operations engaged in providing products that are subject to risks and returns that are different from those of other business segments. The management has determined its operating segments based on the information that is presented to the Chief Operating Decision Maker for allocation of resources and assessments of performance. Based on internal management reporting structure and products produced and sold, the Company is organized into the following operating segments:

      • Coating, Emulsion and Blending

      • Textile, Paper and Others

        The Chief Operating Decision Maker (the Chief Executive Officer) of the Company monitors the operating results of its business units separately for the purpose of making decision about resource allocation and performance assessment. Segment performance is generally evaluated based on

        NOTES TO AND FORMING PART OF THE CONDENSED INTERIM FINANCIAL INFORMATION

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

        certain key performance indicators including business volume, gross profit, profit from operations, reduction in operating cost and free cash flows.

        Segment assets include all operating assets used by a segment and consist principally of receivables, inventories and property, plant and equipment, net of impairment and provisions but do not include deferred tax. Segment liabilities include all operating liabilities and consist principally of trade and bills payable.

   2. Segment analysis

      The segment information for the reportable segments is as follows:

      Coating, Emulsion and Blending

      Total

      Textile, Paper and others

      (Rs. ‘000’)

      Segment Results for the half year ended December 31, 2025 (Un-audited)

      Revenue	3,579,078 2,307,970 5,887,048
      Operating profit	129,728 291,972 421,700
      Other operating expenses	(33,073)
      Finance cost	(139,097)
      Other income	12,802
      Profit before taxation	262,332
      Segment Results for the half year	ended December 31, 2024 (Un-audited)
      Revenue	2,905,453 1,861,919 4,767,372
      Operating profit	164,654 217,840 382,494
      Other operating expenses	(27,588)
      Finance cost	(194,410)
      Other income	15,440
      Profit before taxation	175,936

   3. Entity-wide disclosures regarding reportable segment are as follows:

      • Information about major customers

        One customer of the Company accounts for 8.18% (December 31, 2024: 9.30%) of total sales for the period. Revenue from such customer was Rs. 481.722 million (December 31, 2024: Rs. 443.424 million).

      • Information about geographical areas

        • All non-current assets of the Company are located in Pakistan as at the reporting date.

        • Revenue from export sale is 9.15 million (December 31, 2024: Nill).

Accrued markup includes markup payable on conventional loan amounting to Rs. 35,228 (30 June, 2025: Rs.31,543).

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

The Company maintains bank accounts with Meezan Bank Limited, Al Baraka Bank (Pakistan) Limited, Faysal Bank Limited and Bank Islami Limited.

1. Authorization of Financial Statements

   These condensed interim financial statements (un-audited) were approved and authorized by the Board of Directors of the Company for issuance on Tuesday, February 17, 2026.

2. General

Corresponding figures are re-arranged / reclassified, wherever necessary, to facilitate comparison. No material reclassifications have been made in these condensed interim financial statements (unaudited).

Better lile Through Chemistry

MIIR

NIMIR RESINS LIMITED

14.5 K.M. Lahore — Sheikhupura Road,

Lahore, Pakistan.

Tel: +9242 37971512-14 +924235926090-93

https://www.nimir.com.pk