Packages LimitedPSX: PKGS

Financial Results for The Three Months Period and Quarter Ended 31 March 2026

Apr 28, 2026 at 10:35 AM UTC · Issued by Packages Limited

FORM-7

SEC/30/PKGS April 28, 2026

The General Manager

Pakistan Stock Exchange Limited Stock Exchange Building

Stock Exchange Road Karachi

SUB: FINANCIAL RESULTS FOR THE THREE MONTHS' PERIOD AND QUARTER ENDED 31 MARCH 2026

Dear Sir,

We have to inform you that the Board of Directors of Packages Limited ("the Company"), in its meeting held on Tuesday, April 28, 2026, at 10:00 a.m. at the Registered Office of the Company and via Zoom has, inter alia, approved the condensed interim financial statements (unaudited) of the Company for the three months' period and quarter ended 31 March 2026 and recommended the following:

CASH DIVIDEND: NIL
BONUS SHARES: NIL
RIGHT SHARES: NIL
ANY OTHER ENTITLEMENT/CORPORATE ACTION: NIL
ANY OTHER PRICE-SENSITIVE INFORMATION: NIL
Following statements are attached herewith
Annexure - A (Unconsolidated Condensed Interim Financial Statements (unaudited) of Packages Limited for the captioned period)
1. Statement of Financial Position
2. Statement of Profit or Loss
3. Statement of Comprehensive Income
4. Statement of Changes in Equity
5. Statement of Cash Flows

Annexure - B (Consolidated Condensed Interim Financial Statements (unaudited) of Packages Limited & its Subsidiaries for the captioned period)

Statement of Financial Position
Statement of Profit or Loss
Statement of Comprehensive Income
Statement of Changes in Equity
Statement of Cash Flows

The quarterly report of the Company for the period ended 31 March 2026 will be transmitted through PUCARS separately, within the specified time, and shall also be made available on the Company's website https://www.packages.com.pk

Yours sincerely,

For Packages Limited

Iqra Sajjad

Company Secretary

Encl: as above

CC:

Director

Company Law Division Securities and Exchange Commission of Pakistan

NIC Building, Jinnah Avenue Blue Area, Islamabad

Director

Enforcement Department

Securities and Exchange Commission of Pakistan

NIC Building, Jinnah Avenue Blue Area, Islamabad

Director

Securities Market Division Securities and Exchange Commission of Pakistan

NIC Building, Jinnah Avenue Blue Area, Islamabad

Executive Director/HOD Offsite-II Department Supervision Division

Securities & Exchange Commission of Pakistan

63, NIC Building, Jinnah Avenue Blue Area

Islamabad

EQUITY AND LIABILITIES	(Rupees in thousand)		(Rupees in thousand) ASSETS
SHARE CAPITAL AND RESERVES			NON-CURRENT ASSETS
Authorised share capital
150,000,000 (2025: 150,000,000) ordinary shares of Rs 10 each	1,500,000	1,500,000	Property, plant and equipment	751,417	738,009
22,000,000 (2025: 22,000,000) 10% non-voting preference			Investment properties	1,966,702	1,966,329
shares / convertible stock of Rs 190 each	4,180,000	4,180,000	Intangible assets	194,538	199,705
			Long term investments	70,597,239	70,981,240
			Long term loans to subsidiary companies	1,250,000	1,250,000
			Long term security deposits	3,713	3,713
Issued, subscribed and paid up share capital				74,763,609	75,138,996
89,379,504 (2025: 89,379,504) ordinary shares of Rs 10 each	893,795	893,795
8,186,842 (2025: 8,186,842) 10% non-voting preference shares /
convertible stock of Rs 190 each	606,222	606,222
Other reserves	48,335,764	49,131,366
Revenue reserve: Un-appropriated profits	6,017,210	5,808,785
Total equity	55,852,991	56,440,168
NON-CURRENT LIABILITIES
Long term finances from financial institutions	15,670,150	16,126,400
Long term advances	89,264	86,137
Deferred tax liabilities	2,203,985	2,292,385
Employee benefit obligations	1,444,915	1,401,592
Accumulating compensated absences	161,664	154,362
	19,569,978	20,060,876
CURRENT LIABILITIES			CURRENT ASSETS
Current portion of non-current liabilities	1,712,500	1,712,500	Advances, deposits, prepayments and
Short term borrowings from financial institutions - secured	404,020	394,758	other receivables	2,014,386	2,070,127
Trade and other payables	1,154,928	1,071,714	Income tax receivable	2,657,186	2,576,613
Unclaimed dividend	105,096	108,357	Short term investments	110,000	110,000
Accrued finance cost	762,545	339,878	Cash and bank balances	16,878	232,515
	4,139,089	3,627,207		4,798,449	4,989,255
CONTINGENCIES AND COMMITMENTS
	79,562,058	80,128,251		79,562,058	80,128,251

PACKAGES LIMITED		ANNEXURE A
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT MARCH 31, 2026
March 31, December 31, 2026 2025	March 31, 2026	December 31, 2025
Un-audited Audited	Un-audited	Audited

PACKAGES LIMITED

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED)

For the three-month period ended March 31, 2026

Three months period ended March March

2026 2025

Un-audited Un-audited

(Rupees in thousand)

Dividend income	911,288	1,102,432
Rental income	201,046	185,072
Operating income	1,112,334	1,287,504
Administrative expenses	(355,311)	(283,526)
Net impairment gain on financial assets	-	558
Other expenses	(607)	(81)
Other income	52,754	54,122
Operating income	809,170	1,058,577
Finance costs	(508,994)	(310,042)
Income before levy and income tax	300,176	748,535
Levy	-	-
Income before income tax	300,176	748,535
Income tax expense	(91,752)	(60,365)
Income for the period	208,424	688,170
Earnings per share	Rupees
Basic	2.33	7.70
Diluted	2.33	7.45

PACKAGES LIMITED

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME(UN-AUDITED)

For the three-month period ended March 31, 2026

Three-months period ended March 31, March 31,

2026 2025

Un-audited Un-audited

(Rupees in thousand)

Profit for the period	208,424	688,170
Other comprehensive loss for the period:
Items that may be reclassified subsequently to profit or loss:	-	-
Items that will not be subsequently reclassified to profit or loss:
Change in fair value of investments held at fair value through other comprehensive income ('FVOCI')	(884,002)	(289,946)
Tax effect of change in fair value of instruments at fair value
through other comprehensive income	88,400	-

Other comprehensive loss for the period	(795,602)	(289,946)
Total comprehensive income/(loss) for the period	(587,178)	398,224

PACKAGES LIMITED

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)

For the three-month period ended March 31, 2026

Issued, subscribed and paid up share capital		Reserves					Equity
		Capital reserves			Revenue reserves
Ordinary share	Preference shares / convertible	Share	FVOCI	Capital redemption	General	Un-appropriated	Total
capital	stock	premium	reserve	reserve	reserve	profits

(Rupees in thousand)

Balance as at January 01, 2025 (audited) 893,795 606,222 3,766,738 23,214,961 1,615,000 22,810,333 2,311,494 55,218,543

Total comprehensive (loss)/income for the period ended March 31, 2025

Profit for the period	-	-	-	-	-	-	688,170	688,170
Other comprehensive loss for the period	-	-	-	(289,946)	-	-		(289,946)
	-	-	-	(289,946)	-	-	688,170	398,224
Balance as on March 31, 2025 (un-audited)	893,795	606,222	3,766,738	22,925,015	1,615,000	22,810,333	2,999,664	55,616,767
Balance as on Janaury 01, 2026 (audited)	893,795	606,222	3,766,738	20,939,295	1,615,000	22,810,333	5,808,785	56,440,168
Total comprehensive (loss)/income for the period
ended March 31, 2026
Profit for the period Other comprehensive loss for the period				(795,601)			208,424	208,424 (795,601)
	-	-	-	(795,601)	-	-	208,424	(587,177)
Balance as on March 31, 2026 (un-audited)	893,795	606,222	3,766,738	20,143,694	1,615,000	22,810,333	6,017,209	55,852,991

PACKAGES LIMITED

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED)

For the three-month period ended March 31, 2026

Three-months period ended March 31, March 31,

2026 2025

Un-audited Un-audited

	(Rupees in thousand)
Cash flows from operating activities
Cash generated/(used in) from operations	558,485	(312,521)
Finance costs paid	(86,327)	(160,086)
Final taxes and income tax paid	(198,536)	(33,361)
Payments for accumulating compensated absences	(1,300)	(801)
Employee benefit obligations paid	(6,263)	(4,732)
Dividends received	513,078	1,000,000
Long term advances - net	3,127	2,009
Net cash inflow from operating activities	782,264	490,508
Cash flows from investing activities
Payments for property, plant and equipment	(62,339)	(37,748)
Payments for investment properties	(9,969)	(18,263)
Investments made in equity instruments	(500,000)	-
Proceeds from disposal of property, plant and equipment	25,055	42,711
Net cash outflow from investing activities	(547,253)	(13,300)
Cash flows from financing activities
Repayment of long term finances	(456,250)	(456,250)
Dividend paid	(3,261)	(604)
Net cash outflow from financing activities	(459,511)	(456,854)
Net decrease in cash and cash equivalents	(224,500)	20,354
Cash and cash equivalents at the beginning of the year	(54,030)	(730,326)
Cash and cash equivalents at the end of the period	(278,530)	(709,972)

ANNEXURE B

PACKAGES LIMITED AND ITS SUBSIDIARIES

CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT MARCH 31, 2026

March 31, December 31, March 31, December 31,

EQUITY AND LIABILITIES	2026 Un-audited (Rupees in	2025 Audited thousand)	ASSETS	Note	2026 Un-audited (Rupees in	2025 Audited thousand)
CAPITAL AND RESERVES			NON-CURRENT ASSETS
Authorised capital			Property, plant and equipment		107,195,908	108,303,840
			Right-of-use assets		1,770,723	1,748,296
- 150,000,000 (2025: 150,000,000) ordinary shares of Rs. 10 each	1,500,000	1,500,000	Investment properties		13,274,108	13,272,780
			Intangible assets		8,486,202	8,543,124
- 22,000,000 (2025: 22,000,000) 10% non-voting preference			Investments accounted for using the equity method		6,389,584	6,534,791
shares / convertible stock of Rs 190 each	4,180,000	4,180,000	Other long term investments		28,181,451	29,065,452
			Long term security deposits		530,066	513,291
Issued, subscribed and paid up capital			Long term loans		9,972	8,464
- 89,379,504 (2025: 89,379,504) ordinary shares of Rs 10 each	893,795	893,795			165,838,014	167,990,038
- 8,186,842 (2025: 8,186,842) 10% non-voting preference shares /
convertible stock of Rs 190 each	606,222	606,222
Other reserves	52,055,814	53,113,182
Equity portion of loan from shareholder of the Parent Company	277,219	277,219
Revenue reserve: Un-appropriated profits	12,437,051	11,746,390
Attributable to owners of the Parent Company	66,270,101	66,636,808
Non-controlling interests	19,420,527	19,130,647
TOTAL EQUITY	85,690,628	85,767,455
NON-CURRENT LIABILITIES
Long term finances from financial institutions	61,856,209	64,246,500
Lease liabilities	1,682,607	1,485,702
Security deposits	873,460	596,815
Deferred income	212,461	220,332
Deferred government grant	669,695	728,714
Deferred taxation	7,816,689	8,020,538
Long term advances	439,511	452,708
Employee benefit obligations	4,006,776	3,830,240
Accumulating compensated absences	1,004,240	951,448
	78,561,648	80,532,997
CURRENT LIABILITIES			CURRENT ASSETS
Current portion of non-current liabilities	14,499,580	14,144,080	Stores and spares		8,989,151	7,118,802
Short term borrowings from financial institutions - secured	48,082,209	53,483,415	Stock-in-trade		35,509,410	44,112,225
Trade and other payables	31,426,528	30,117,110	Short term investments		3,397,169	2,131,902
Unclaimed dividend	145,752	149,159	Trade debts		28,342,165	22,804,898
Unpaid dividend	306,532	67,692	Loans, advances, deposits, prepayments
Accrued finance cost	3,320,089	2,830,208	and other receivables		8,134,796	8,030,991
	97,780,690	100,791,664	Income tax receivable		8,819,552	9,515,720
			Cash and bank balances		3,002,709	5,387,540
CONTINGENCIES AND COMMITMENTS					96,194,952	99,102,078
	262,032,966	267,092,116			262,032,966	267,092,116

PACKAGES LIMITED AND ITS SUBSIDIARIES

CONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE THREE MONTH PERIOD ENDED MARCH 31, 2026

Three-month period ended March 31, March 31,

2026 2025

Un-audited Un-audited

(Rupees in thousand)

Net revenue	53,098,364	49,744,611
Cost of sales and services	(40,530,273)	(39,541,600)
Gross profit	12,568,091	10,203,011
Administrative expenses	(2,094,173)	(1,726,199)
Distribution and marketing costs	(3,666,455)	(2,992,482)
Net impairment (loss)/gain on financials assets	(96,482)	(78,893)
Other expenses	(304,578)	(470,930)
Other income	271,499	234,567
Investment income Share of net profit of associate and joint venture accounted for using equity method	260 84,044	- 93,797
Operating profit	6,762,206	5,262,871
Finance costs	(3,511,783)	(3,651,774)
Profit before levy and income tax	3,250,423	1,611,097
Levy	(349,739)	(342,802)
Profit before income tax	2,900,684	1,268,295
Income tax	(1,635,479)	(1,080,421)
Profit for the period	1,265,205	187,874
Profit/(loss) attributable to: Equity holders of the Parent Company	690,661	(302,733)
Non-controlling interests	574,544	490,607
	1,265,205	187,874

Earnings/(loss) per share attributable to equity holders of the Parent Company during the period

Basic	Rupees	7.73	(3.39)
Diluted	Rupees	7.47	(3.39)

PACKAGES LIMITED AND ITS SUBSIDIARIES

CONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE THREE MONTH PERIOD ENDED MARCH 31, 2026

Three-month period ended March 31, March 31,

2026 2025

Un-audited Un-audited

(Rupees in thousand)

Profit for the period 1,265,205 187,874

Other comprehensive income/(loss) for the period

Items that will not be subsequently reclassified to profit or loss:

Change in fair value of investments at fair value through other comprehensive income ('FVOCI') - net of tax effect (795,602)		(289,946)
(795,602)		(289,946)
Items that may be reclassified subsequently to profit or loss:
Net exchange differences on translation of foreign operations Share of other comprehensive income/(loss) of associate accounted for using the equity method - net of tax	(40,499) (229,248)	(9,140) (59,955)
	(269,747)	(69,095)
Other comprehensive loss for the period	(1,065,349)	(359,041)
Total comprehensive income/(loss) for the period	199,856	(171,167)
Total comprehensive income/(loss) attributable to: Equity holders of the Parent Company	(366,707)	(659,324)
Non-controlling interests	566,563	488,157
	199,856	(171,167)

PACKAGES LIMITED AND ITS SUBSIDIARIES

CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE THREE MONTH PERIOD ENDED MARCH 31, 2026

Issued, subscribed and

Attributable to equity holders of the Parent Company

Reserves

Capital and reserves

paid up capital Capital reserves

Revenue reserves

Non-

Ordinary share

Preference shares / Share

convertible stock premium

Exchange differences

FVOCI Other reserves

reserve relating to

Transactions with non-

Equity portion of loan from

Capital General Unappropriated Total redemption reserve profits

controlling interests

Total equity

capital reserve on translation

of foreign operations

associates and

joint ventures

controlling

interests

shareholder of

the Parent Company

reserve

(Rupees in thousand)

Balance as on January 1, 2025 (audited) 893,795 606,222 3,766,738 309,043 23,214,960 3,508,292 80,653 277,219 1,615,000 22,810,333 13,140,151 70,222,406 18,486,388 88,708,794

-	-	-	-	-	-	-	-	-	-	-	- -	-
-	-	-	-	-	-	-	-	-	-	-	- (205,414)	(205,414)
-	-	-	-	-	-	-	-	-	-	-	- (205,414)	(205,414)

Transactions with preference shareholders Participating dividend on preference shares / convertible stock Transactions with owners recognized directly in equity

Final dividend for the year ended December 31, 2024 paid to non-controlling

interests

Total comprehensive income / (loss) for the period ended March 31, 2025

187,874

(359,041)

490,607

(2,450)

(302,733)

(356,591)

(302,733)

-(59,955)

-(289,946)

-(6,690)

(Loss) / profit for the period

Other comprehensive loss for the period

- - - (6,690) (289,946) (59,955) - - - - (302,733) (659,324) 488,157 (171,167)

Balance as on March 31, 2025 (un-audited) 893,795 606,222 3,766,738 302,353 22,925,014 3,448,337 80,653 277,219 1,615,000 22,810,333 12,837,418 69,563,082 18,769,131 88,332,213

Balance as on January 1, 2026 (audited) 893,795 606,222 3,766,738 222,803 20,939,294 3,678,361 80,653 277,219 1,615,000 22,810,333 11,746,390 66,636,808 19,130,647 85,767,455

Transactions with owners recognized directly in equity

(276,683)

Final dividend for the year ended December 31, 2025 paid to non-controlling interests

Total comprehensive (loss) / income for the period ended March 31, 2026

Profit for the period

Other comprehensive loss for the period

- - - - - - - - - - - - (276,683) (276,683)

-(32,518)

-(795,602)

-(229,248)

690,661

(1,057,368)

574,544

(7,981)

1,265,205

(1,065,349)

- - - (32,518) (795,602) (229,248) - - - - 690,661 (366,707) 566,563 199,856

Balance as on March 31, 2026 (un-audited) 893,795 606,222 3,766,738 190,285 20,143,692 3,449,113 80,653 277,219 1,615,000 22,810,333 12,437,051 66,270,101 19,420,527 85,690,628

The annexed notes 1 to 20 form an integral part of these consolidated condensed interim unaudited financial statements.

PACKAGES LIMITED AND ITS SUBSIDIARIES

CONSOLIDATED CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE THREE MONTH PERIOD ENDED MARCH 31, 2026

Three-month period ended March 31, March 31,

2026 2025

Un-audited Un-audited

(Rupees in thousand)

Cash flows from operating activities
Cash generated from operations	11,677,532	7,718,088
Finance cost paid	(2,979,202)	(4,151,013)
Income tax and levy paid	(1,404,497)	(1,152,832)
Long term security deposits - net	291,646	42,526
Long term loans and deposits - net	(18,283)	(88,936)
Payments for accumulating compensated absences	(859)	(2,443)
Long term advances - net	(25,994)	(1,014)
Employee benefit obligations paid	(24,693)	(52,361)
Net cash inflow from operating activities	7,515,650	2,312,015
Cashflows from investing activities
Fixed capital expenditure	(1,305,501)	(4,634,390)
Proceeds from disposal of property, plant and equipment	186,459	275,194
Dividends received	260	50,000
Net cash outflow from investing activities	(1,118,782)	(4,309,196)
Cash flows from financing activities
Proceeds from long term finances	1,500,000	2,055,608
Repayment of long term finances	(3,542,538)	(3,676,586)
Payment of lease liabilities	(39,673)	(33,691)
Dividend paid to equity holders of the Parent Company	-	(604)
Dividend paid to non-controlling interest	(41,250)	(376)
Net cash outflow from financing activities	(2,123,461)	(1,655,649)
Net increase/(decrease) in cash and cash equivalents	4,273,407	(3,652,830)
Cash and cash equivalents at the beginning of the year	(45,963,973)	(42,016,109)
Cash and cash equivalents at the end of the period	(41,690,566)	(45,668,939)

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