Pak-gulf Leasing Co. Ltd.PSX: PGLC

Transmission of Quarterly Financial Statements for the Period Ended March 31, 2026

Apr 30, 2026 at 4:22 AM UTC · Issued by Pak-gulf Leasing Co. Ltd.

Condensed InTerim Financial Statements (Un-audited)

For the nine months period

ended 1 Morch 2026

Pok-Gulf Leosing Compony Limited

Auditors

M/s. BDO Ebrahim & Co.

Chartered Accountants

2nd Floor, Block C Lakson Square Building No. 1

Sarwar Shaheed Road

Karachi-74200.

Chairman

Vice Chairman

Director

Chief Executive Officer

Legal Advisor

M/s. Mohsin Tayebaly & Company

2nd Floor, Dime Centre

BC-4, Block # 9, Kehkashan, Clifton

Karachi-75600

Tel # : (92-21) 111-682-529

Company Secretary

Ms. Mehreen Usama

Shariah Advisor

M/S Alhamd Shariah Advisory Services (Pvt) Ltd.

Audit Committee

Ms. Naueen Ahmed

Mr. Pervez Inam

Brig. Naveed Nasar Khan (Retd)

Mr. Naeem Ali Muhammad Munshi

Mr. Ismail H. Ahmed

Ms. Farah Farooq

Chairman

Member

Secretary

Bankers

Islamic banks

Albaraka Bank (Pakistan) Limited

MCB Islamic Bank

Conventional banks

Allied Bank Limited

Askari Commercial Bank Limited

Bank Al-Falah Limited

Bank Al Habib Limited

Bank of Punjab

Habib Bank Limited

JS Bank Limited

MCB Bank Limited

National Bank of Pakistan

Silkbank Limited

Soneri Bank Limited

Human Resource and Remuneration Committee

Mr. Jan Ali Khan Junejo Chairman

Mr. Sohail Inam Ellahi Member

Mr. Pervez Inam Member

Mr. Ismail H. Ahmed Member

Ms. Naueen Ahmed Member

Mr. Mahfuz-ur-Rahman Pasha Member

Ms. Mehreen Usama Secretary

Risk Management Committee

Mr. Jan Ali Khan Junejo

Mr. Sohail Inam Ellahi

Mr. Yousuf Jan Muhammad

Mr. Ismail H. Ahmed

Mr. Naeem Ali Muhammad Munshi

Ms. Naueen Ahmed

Chairman

Member

Registered Office
UNIBRO House
Ground and Mezzanine Floor,
Plot No. 114, 9th East Street, Phase I DHA
Karachi-75500. P.O. Box # 12215
Tel # :	(92-21) 35820301, 35820966
	35824401, 35375986-7
Fax # :	(92-21) 35820302, 35375985
E-mail :	pgl@pakgulfleasing.com
Website :	https://www.pakgulfleasing.com
Branch Office
202, 2nd Floor, Divine Mega II,
Opp. Honda Point, New Airport Road, Lahore
Tel # :	(92-42) 35700010
Fax # :	(92-42) 35700011

Senior Management

Mr. Mahfuz-ur-Rahman Pasha

Lt. Col. Saleem Ahmed Zafar (Retd)

Ms. Mehreen Usama

Lt. Col. Farhat Parvez Kayani (Retd)

Ms. Farah Farooq

Chief Executive Officer

Chief Operating Officer

Chief Financial Officer

General Manager Punjab

Head of Audit

Credit Rating Agency

VIS Credit Rating Co. Ltd.

Registrar/Share Transfer Office
THK Associate (Pvt.) Limited
Plot No. C-32, Jami Commercial Street2
DHA Phase VII, Karachi
Tel # :	92 (21) 111-000-322
Fax # :	92 (21) 34168271

Entity Rating:

- A- (Single A Minus) for Medium to Long term

- A-2 (A -Two) for Short term

- Outlook - Stable

Company Information

Board of Directors

Mr. Sohail Inam Ellahi

Mr. Ismail H. Ahmed

Mr. Pervez Inam

Brig. Naveed Nasar Khan (Retd)

Ms. Naueen Ahmed

Mr. Naeem Ali Muhammad Munshi

Mr. Jan Ali Khan Junejo

Brig. Haris Nawaz (Retd)

Mr Yousuf Jan Muhammad

Mr. Mahfuz-ur-Rahman Pasha

DIRECTORS' REPORT

Dear Shareholders,

The Board of Directors is pleased to present the unaudited condensed interim financial statements of your Company for the nine-month period ended March 31, 2026, for the financial year 2025-26.

Financial Highlights and Business Review

During the third quarter of FY 2025-26, the Company recorded total revenue of Rs. 106.64 million, compared to Rs. 172.88 million in the same period last year. The decline is mainly attributable to a sustained reduction in financing activity over the past three years, driven by elevated KlBOR levels and subdued industrial activity. As a result of the lower revenue base, profit before taxation dropped to Rs. 56.57 million from Rs. 87.45 million, while net profit after tax stood at Rs. 54.15 million, compared to Rs. 60.95 million in the same period last year. Consequently, earnings per share (EPS) fell to Rs. 1.09, down from Rs. 1.23 in the prior year.

On the cost side, administrative expenses increased marginally by Rs. 3.62 million. However, this was offset by a significant reduction in finance costs, which declined by Rs. 26.43 million due to lower utilisation of borrowing tñcilities during the period.

In accordance with IFRS 9, the Company recorded a provision of Rs. 0.75 million for potential lease and loan losses. Additionally, aprovision ofRs. 0.57 million was recognized for lease receivables currently under litigation. During the period, the Company also recovered Rs. 5 million through court proceedings in respect of the diminishing musharakah facility extended to M/s Muhandaseen (Pvt) Limited.

As o1 March 31, 2026, shareholders' equity stood at Rs. 748.42 million, showing an increase from Rs. 694.216 million as at June 30, 2025.

In December 2024, VIS Credit Rating Company Limited reaffirmed the Company's credit ratings at 'A-' (Single A Minus) for the medium to long-term and 'A-2' for the short-term, with a "Stable" outlook.

Acknowledgements

The Board acknowledges and appreciates the efforts of the Management Team and all staff members for their dedication and performance during the period under review, particularly in the face of challenging market conditions. The Board encourages management to further strengthen its marketing initiatives and continue delivering high-quality services to enhance the Company's reputation in Pakistan's leasing sector.

We also express our gratitude for the continued cooperation and support extended by the Securities and Exchange Commission of Pakistan (SECP) and the NBFI & Modaraba Association of Pakistan. Their role remains pivotal in fostering the sustainable growth of the leasing industry, and we look forward to their continued guidance and collaboration.

Lastly, we extend our sincere thanks to our valued shareholders, customers, investors, and banking partners tor their ongoing trust and support. We remain committed to nurturing strong, mutually ben ' 1 relationships with all stakeholders.

Chairman Karachi April 24, 2026 Chief E ec tive O cer

Head Office: UNIBRO HOUSE, Ground floor, Plot No. 114, 9th East Street, Phase I, DHA, P.O Box # 12215 , Karachi-75500.

Tel : (92-21) 35820301, 35824401, 35820965-66, 35375986-87 Fax' (92-21) 35820302

Lahore Office: 202, 2nd Floor, DIVINE MEGA II, Opp. Honda Point, New Airport Road, Lahore Tel: (92-42) 5700010 Fax: (92-42) 5700011

E-mail: pgl@pakgulfleasing.com Website : https://www.pakgu1f1easing.com

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PAK-GULF LEASING COMPANY LIMITED

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT MARCH 31, 2026 (Un-audited) (Audited)

March 31, 2026 June 30, 2025

ASSETS NON-CURRENT ASSETS	Note	--------------Rupees--------------
Property and equipment	7	3,142,023	3,487,102
Right-of-use assets	8	8,774,595	12,406,338
Investment property	9	175,032,000	175,032,000
Intangible assets		196,000	251,125
Net investment in finance lease	10	499,646,030	535,024,220
Long-term loans	11	114,422,701	47,467,936
Long-term security deposits		118,500	118,500
TOTAL NON-CURRENT ASSETS CURRENT ASSETS		801,331,849 773,787,221
Current portion of net investment in finance lease	10	219,110,870	203,558,098
Current portion of long-term loans	11	76,927,908	19,628,185
Short term investments	12	59,264,707	49,311,562
Advance to employees		9,934	37,934
Prepayments		1,306,244	582,795
Taxation - net		19,335,833	16,091,652
Other receivables	13	98,407,912	102,223,317
Cash and bank balances	14	132,303,970	281,105,376
TOTAL CURRENT ASSETS		606,667,378 672,538,919
TOTAL ASSETS		1,407,999,227 1,446,326,140
EQUITY AND LIABILITIES

494,711,100	494,711,100
350,428,932	296,250,700

SHARE CAPITAL AND RESERVES

Share capital Reserves

TOTAL EQUITY 845,140,032 790,961,800

NON-CURRENT LIABILITIES

Long-term deposits		240,158,837	273,764,947
Lease liabilities	15	6,717,126	7,035,517
Certificates of investment	16	40,870,997	7,000,000
Deferred taxation	17	120,345,157	123,611,930
TOTAL NON-CURRENT LIABILITIES		408,092,117	411,412,394
CURRENT LIABILITIES
Trade and other payables		40,161,321	34,950,668
Unclaimed dividend		4,056,841	4,747,646
Accrued mark-up		3,326,240	50,539,284
Current portion of long-term deposits		99,429,554	45,297,982
Current portion of long-term loan		-	4,166,666
Current portion of lease liabilities	15	6,855,539	5,041,318
Current portion of certificates of investment	16	937,583	99,208,382
TOTAL CURRENT LIABILITIES		154,767,078 243,951,946
TOTAL LIABILITIES		562,859,195 655,364,340
TOTAL EQUITY AND LIABILITIES		1,407,999,227 1,446,326,140
CONTINGENCIES AND COMMITMENTS	19

The annexed notes from 1 to 25 form an integral part of these condensed interim financial statements.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

PAK-GULF LEASING COMPANY LIMITED

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

Nine months period ended

Three months period ended

INCOME

March 31, March 31,

2026 2025 2026 2025

-----------------Rupees----------------- -----------------Rupees-----------------

Income from financing operations 80,575,106 113,652,284 27,752,929 18,969,431

Income from other activities Return on investments Other income

EXPENSES

Administrative and operating expenses Finance cost

13,346,477	46,840,022	3,657,305	10,228,693
12,722,400	12,388,018	4,240,800	4,156,420

26,068,877 59,228,040 7,898,105 14,385,113

106,643,983 172,880,324 35,651,034 33,354,544

(47,350,123)	(43,732,149)	(14,571,235)	(14,084,730)
(6,409,389)	(32,842,532)	(1,852,207)	(6,883,963)

(53,759,512) (76,574,681) (16,423,442) (20,968,693)

Operating profit before provisions	52,884,471	96,305,643	19,227,592	12,385,851
(Provision) / Reversal against lease receivables held under litigation	4,431,649	(14,531,408)	5,000,000	(14,255,919)

Reversal / (Provision) for potential lease and loan losses (747,274) 5,680,643 (1,032,259) 8,077,911 Profit before tax 56,568,846 87,454,878 23,195,333 6,207,843

(5,684,137)	(24,200,296)	(3,634,445)	(5,237,605)
3,266,773	(2,298,612)	2,217,168	13,645,928

Taxation

Current Deferred

(2,417,364) (26,498,908) (1,417,277) 8,408,323

Net profit after taxation 54,151,482 60,955,970 21,778,056 14,616,166

Earnings per share - basic and diluted 1.09 1.23 0.44 0.30 The annexed notes from 1 to 25 form an integral part of these condensed interim financial statements.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

PAK-GULF LEASING COMPANY LIMITED

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED)

FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2026

Nine months period ended
March 31,
2026	2025
-----------Rupees-----------

Three months period ended
March 31,
2026	2025
-----------Rupees-----------

Note

Net profit after taxation 54,151,482 60,955,970 21,778,056 14,616,166

Items that may not be reclassified to statement of profit or loss

in subsequent periods:

Gain / (loss) on revaluation of FVOCI investments

Total comprehensive income for the period

Other comprehensive income / (loss) for the period

12	26,750
	54,178,232

2,866,897

63,822,867

(1,897,242) 21,720

19,880,814 14,637,886

The annexed notes from 1 to 25 form an integral part of these condensed interim financial statements.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

PAK-GULF LEASING COMPANY LIMITED

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

Share capital	Reserves				Total reserves	Total equity
	Capital			Revenue
	Statutory reserve	Surplus on revaluation of property and equipment	Surplus on revaluation of FVOCI investments	Unappropriated profit
-------------------------------------------------------------------------- (Rupees) ---------------------------------------------------------------------------

Balance at July 01, 2024 494,711,100 169,485,284 90,504,204				3,578,913	152,077,011	415,645,412	910,356,512
Interim dividend for the year ending June 30, 2025 @ Rs. 2.2/ per share					(108,836,442)	(108,836,442)	(108,836,442)
Net profit / (loss) for the period	-	-	-	-	60,955,970	60,955,970	60,955,970
Other comprehensive income / (loss)	-	-	-	2,866,897	-	2,866,897	2,866,897
Total comprehensive income / (loss) for the period - -				2,866,897	60,955,970	63,822,867	63,822,867
Transfer to statutory reserve	-	12,191,194	-	-	(12,191,194)	-	-
Balance as at March 31, 2025	494,711,100	181,676,478	90,504,204	6,445,810	92,005,345	370,631,837	865,342,937
Balance at July 01, 2025	494,711,100	184,206,146	90,504,204	5,990,776	15,549,574	296,250,700	790,961,800
Net profit / (loss) for the period	-	-	-	-	54,151,482	54,151,482	54,151,482
Other comprehensive income / (loss)	-	-	-	26,750	-	26,750	26,750
Total comprehensive income / (loss) for the period	-	-		26,750	54,151,482	54,178,232	54,178,232
Transfer to statutory reserve	-	10,830,296	-	-	(10,830,296)	-	-
Balance as at March 31, 2026	494,711,100	195,036,442	90,504,204	6,017,526	58,870,760	350,428,932	845,140,032
The annexed notes from 1 to 25 form an integral part of these condensed interim financial statements.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

PAK-GULF LEASING COMPANY LIMITED CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2026 CASH FLOWS FROM OPERATING ACTIVITIES Note Nine months period ended

March 31,

2026 2025 -----------Rupees-----------

Profit before taxation 56,568,846 87,454,878

4,436,597	4,413,232
6,409,389	32,842,532
747,274	(5,680,643)
(4,431,649)	14,531,408
-	(937,884)

Adjustment for:

Depreciation and amortisation Finance cost

Provision / (reversal) for potential lease and loan losses - net (Reversal) / provision for lease receivables held under litigation -net Gain on disposal of property and equipment

7,161,611 45,168,645

Operating profit before working capital changes Decrease / (increase) in current assets	63,730,457	132,623,523
Advance to employees	28,000	(56,994)
Other receivables	7,556,249	(12,070,741)
Prepayments	(723,449)	(710,803)
	6,860,800	(12,838,538)
Increase / (decrease) in current liabilities
Trade and other payables	5,210,653	(5,160,791)
Cash generated from operations	75,801,910	114,624,194
Finance cost paid	(51,619,228)	(45,791,110)
Tax paid - net	(8,928,318)	(60,535,994)
Long-term deposits- net	20,525,462	(158,944,186)
Long-term loans - net	(124,795,109)	44,072,226
Net investment in finance lease	19,618,765	409,019,546
	(145,198,428)	187,820,482
Net cash (used in) / generated from operating activities	(69,396,518)	302,444,676

(404,650)	(200,000)
-	4,044,878
(9,926,395)	(5,442,535)

CASH FLOWS FROM INVESTING ACTIVITIES

Additions in property and equipment

Proceeds on disposal of property and equipment Investments (made) / redeem during the period

Net cash (used in) / generated from investing activities (10,331,045) (1,597,657)

(64,399,802)	(120,868,764)
-	(108,836,442)
(507,375)	(310,242)
(4,166,666)	(29,166,667)

CASH FLOWS FROM FINANCING ACTIVITIES

(Paid) / received against certificates of investment Dividend paid

Lease payments

Payment of long-term loan installments

Net cash used in financing activities	(69,073,843)	(259,182,115)
Net (decrease) / increase in cash and cash equivalents	(148,801,406)	41,664,904
Cash and cash equivalents at the beginning of the period	281,105,376	354,856,487
Cash and cash equivalents at the end of the period	20 132,303,970	396,521,391

The annexed notes from 1 to 25 form an integral part of these condensed interim financial statements.

CHIEF EXECUTIVE OFFICER DIRECTOR CHIEF FINANCIAL OFFICER

PAK-GULF LEASING COMPANY LIMITED

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)

FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2026

1.	LEGAL STATUS AND NATURE OF BUSINESS

1.1

Pak-Gulf Leasing Company Limited ("the Company") was incorporated in Pakistan on

December 27, 1994 as a public limited company under the repealed Companies Ordinance, 1984 (the Companies Act, 2017) and commenced its operations on September 16, 1996. The Company is principally engaged in the business of leasing and is listed on Pakistan Stock Exchange Limited.

1.2	VIS Credit Rating Company Limited (VIS) has assigned a long term credit rating of A- and short term credit rating of A-2 to the Company on December 24, 2024.

1.3

Regulation 4 of Non-Banking Finance Companies and Notified Entities Regulations, 2008,

requires an existing NBFC with valid deposit taking permission having leasing liscence to maintain, at all times, minimum equity of Rs. 500 million. The equity of the Company as at March 31, 2026 is Rs. 748.422 million which is Rs. 248.422 million in excess of the minimum equity requirement.

2.	GEOGRAPHICAL LOCATION AND ADDRESSES OF BUSINESS UNITS

The registered office of the Company is located at UNIBRO House, Ground and Mezzanine Floor, Plot No. 114, 9th East Street, Phase-1, Defence Housing Authority, Karachi. The Company also have a branch office located at Office No. 202, 2nd Floor, Divine Mega II, Opp Honda Point, New Airport Road, Lahore.

3	BASIS OF PREPARATION

3.1	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 reporting comprising of:

International Financial Reporting Standards (IFRS) issued by the International

Accounting Standards Board (IASB) as notified under the Companies Act, 2017;

Provisions of and directives issued under the Companies Act, 2017 along with Part

VIIIA of the repealed Companies Ordinance, 1984;

Islamic Financial Accounting Standard - 2 Ijarah (IFAS-2) issued by the Institute of Chartered Accountants of Pakistan; and

-	Non-Banking Finance Companies (Establishment and Regulations) Rules, 2003 (the NBFC Rules), Non-Banking Finance Companies and Notified Entities Regulations, 2008 (the NBFC Regulations).

Where provisions of and directives issued under the Companies Act, 2017, Part VIIIA of the repealed Companies Ordinance, 1984, the NBFC Rules and the NBFC Regulations differ from the IAS-34 and IFAS-2, the provisions of and directives issued under the Companies Act, 2017, Part VIIIA of the repealed Companies Ordinance, 1984, the NBFC Rules and the NBFC Regulations have been followed.

3.2

The disclosures in these condensed interim financial statements are presented in accordance

with IAS 34 and do not contain all the information required for full annual financial statements. Consequently, this condensed interim financial statements should be read in conjunction with the financial statements of the Company for the year ended June 30, 2025.

3.3	Basis of measurement

These financial statements have been prepared under the historical cost convention, except that

investment property is stated at fair value and certain investments which have been classified as fair value through OCI.

Functional and presentation currency

3.4

These financial statements are presented in Pakistani Rupee which is the Company's functional and presentation currency.

4.	MATERIAL ACCOUNTING POLICIES INFORMATION

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

5.	SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGEMENTS

Estimates and judgements made by the management in applying the accounting policies and the key sources of estimation uncertainty are the same as those applied to the annual audited financial statements for the year ended June 30, 2025.

6.	RISK MANAGEMENT POLICIES

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

(Un-audited)

(Audited)

March 31,

2026

June 30, 2025

--------------Rupees--------------

Note

7.	PROPERTY AND EQUIPMENT

Opening net book value

Addition during the period / year

Net book value of disposal during the period / year

Depreciation charged during the period / year

Closing net book value

3,487,102	7,298,508
404,650	369,025
-	(3,106,994)
(749,729)	(1,073,437)
3,142,023	3,487,102

8.	RIGHT-OF-USE ASSETS

Opening net book value

Addition during the period / year

Depreciation charged during the period / year

Closing net book value

Depreciation rate

12,406,338	17,160,784
-	-
(3,631,743)	(4,754,446)
8,774,595	12,406,338
22%	22%

9.	INVESTMENT PROPERTY

Office premises 175,032,000 175,032,000

9.1

The carrying value of investment property is the fair value of the property as determined by an

independent professional valuer, M/s. Akbani and Javed Associates as on June 30, 2025. As at reporting date, there is no material change in the aforementioned fair value of investment properties and accordingly no adjustment has been incorporated in these condensed interim financial statements.

10.	NET INVESTMENT IN FINANCE LEASE

Secured

Net investment in finance lease

Current portion shown under current assets

10.1	718,756,900 738,582,318
	(219,110,870) (203,558,098)
	499,646,030 535,024,220

10.1	Net investment in finance lease

March 31, 2026 (Un-audited)
Not later than one year		Later than one year and less than five years		Total

Note ----------------------------Rupees----------------------------

Minimum lease payments		244,713,906	292,483,447	537,197,353
Residual value of leased assets		99,429,554	240,158,837	339,588,391
Gross investment in finance lease		344,143,460	532,642,284	876,785,744
Unearned finance income		(74,327,568)	(32,996,254)	(107,323,822)
		269,815,892	499,646,030	769,461,922
Allowance for potential lease losses	10.2	(50,705,022)	-	(50,705,022)
Net investment in finance lease		219,110,870	499,646,030	718,756,900

June 30, 2025 (Audited)
Not later than one year		Later than one year and less than five years		Total

Note ----------------------------Rupees----------------------------

Minimum lease payments		296,044,664	319,293,788	615,338,452
Residual value of leased assets		45,297,982	273,764,947	319,062,929
Gross investment in finance lease		341,342,646	593,058,735	934,401,381
Unearned finance income		(87,286,179)	(58,034,515)	(145,320,694)
		254,056,467	535,024,220	789,080,687
Allowance for potential lease losses	10.2	(50,498,369)	-	(50,498,369)
Net investment in finance lease		203,558,098	535,024,220	738,582,318

(Un-audited)

(Audited)

March 31,

2026

June 30, 2025

--------------Rupees--------------

Note

10.2	Allowance for potential lease losses

Balance as at July 01

Transfer to lease receivable held under litigation

Charge / (reversal) for the period / year - net

50,498,369 71,540,057

- (15,704,263)

206,653 (5,337,425)

50,705,022 50,498,369

13.1

11.	LONG-TERM LOANS

Secured

Auto-finance loan

Current portion shown under current assets

Allowance for potential loan losses

192,314,714	67,519,605
(76,927,908)	(19,628,185)
(964,105)	(423,484)
114,422,701	47,467,936

11.1

(Un-audited)

(Audited)

March 31,

2026

June 30, 2025

--------------Rupees--------------

Note

11.1	Allowance for potential loan losses

Balance as at July 01

Transfer to lease receivable held under litigation

Charge / (reversal) for the period / year - net

423,484 2,137,902

- (171,244)

540,621 (1,543,174)

964,105 423,484

13.1

12.	SHORT TERM INVESTMENTS

At fair value through other comprehensive income -

National Investment (Unit) Trust

Remeasurement gain / (loss) on revaluation at

fair value

7,184,976 4,773,113

26,750 2,411,863

12.1 7,211,726 7,184,976

Amortised cost:

Government securities

12.2	52,052,981 42,126,586
	59,264,707 49,311,562

12.1	This represents investments in 54,300 units (June 30, 2025: 54,300 units) at net asset value.

12.2	This represent investment in Market Treasury Bills having cost of Rs. 50.99 million (June 30, 2025: Rs. 40.00 million) and interest accrued thereon of Rs. 1.06 million (June 30, 2025: Rs 2.13 million). The effective rate of return 11.50% (June 30, 2025: 11.50%) per annum. These will be matured on July 09, 2026.
13.	OTHER RECEIVABLES
	Considered good
	Insurance premium and other receivables		9,810,949	9,173,316
	Considered doubtful
	Lease receivable held under litigation		249,840,070	253,766,507
	Insurance premium and other receivables		3,046,701	3,046,701
	Diminishing musharakah receivable		11,788,999	16,788,999
			264,675,770	273,602,207
	Provision
	Lease receivable held under litigation	13.1	(132,961,165)	(132,392,814)
	Insurance premium and other receivables		(3,046,701)	(3,046,701)
	Mark-up held in suspense account against lease receivable held under litigation		(28,281,942)	(28,323,692)
			(11,788,999)	(16,788,999)
	Diminishing musharakah receivable		(176,078,807)	(180,552,206)
			98,407,912	102,223,317

			(Un-audited)	(Audited)
			March 31, 2026	June 30, 2025
		Note	--------------Rupees--------------
13.1	Provision against lease receivable held under litigation
	Balance as at July 01		132,392,814	87,953,657
	Transfer from net investment in finance lease	10.2	-	15,704,263
	Transfer from long term loans	11.1	-	171,244
	Charge / (reversal) for the period / year - net		568,351	28,563,650
			132,961,165	132,392,814

14.	CASH AND BANK BALANCES

Cash in hand

Balances with banks:

in current accounts

in saving accounts

130,000 129,000

10,164,957 7,282,554

122,009,013 273,693,822

132,303,970 281,105,376

14.1

14.1	These carry mark-up rates ranging from 9% to 9.25% (June 30, 2025: 9.25% to 9.50%) per annum.

(Un-audited)

(Audited)

March 31,

2026

June 30, 2025

--------------Rupees--------------

Note

15.	LEASE LIABILITIES

Opening balance

Lease liability recognised

Payments made during the period / year

Finance cost incurred during the period / year

Closing balance

Current portion shown under current liabilities

12,076,835	14,977,323
-	-
(507,375)	(6,188,709)
2,003,205	3,288,221
13,572,665	12,076,835
(6,855,539)	(5,041,318)
6,717,126	7,035,517

16.	CERTIFICATES OF INVESTMENT

Unsecured

Certificates of investment

Current portion shown under current liabilities

41,808,580 106,208,382

(937,583) (99,208,382)

40,870,997 7,000,000

16.1

16.1	These represent certificates of investment issued by the Company for periods ranging from 12 to 36 (June 30, 2025: 12 to 36) months and carry mark-up rates ranging from 10.7% to 10.95% (June 30, 2025: 11.15% to 21.75%) per annum.

(Un-audited) (Audited) March 31, 2026 June 30, 2025

DEFERRED TAXATION Note --------------Rupees--------------

Taxable temporary difference arising in respect of: Surplus on revaluation of property and equipment Unrealised gain on revaluation of investment property Accelerated tax depreciation

Net investment in finance lease Right of use assets

Deductible temporary difference arising in respect of: Provision against potential lease losses

Provision against diminishing musharakah receivable Provision against other receivables

Lease liabilities

Accelerated tax depreciation Provision for leave encashment

36,966,506	36,966,506
11,943,360	11,943,360
13,510	-
130,999,947	133,958,226
2,544,633	3,597,838

182,467,956 186,465,930

(14,984,047)	(14,644,527)
(3,418,810)	(4,868,810)
(39,442,281)	(39,277,459)
(3,936,073)	(3,502,282)
-	(219,336)
(341,588)	(341,586)

(62,122,799) (62,854,000)

120,345,157 123,611,930

SHORT TERM BORROWINGS Secured
1. The Company has a short-term running finance facility from Bank Al Habib Limited having sanctioned limit amounting to Rs. 300 million (June 30, 2025: Rs. 300 million). The facility carry mark-up at the rate of 3 months KIBOR plus 1% per annum is secured by hypothecation charge over leased assets and receivables. The facility has not been utilised as at period end.
CONTINGENCIES AND COMMITMENTS
1. Contingencies
  The aggregate amount of tax contingencies amounted to Rs. 3.195 million as at March 31, 2026. There were no changes in the status of contingencies during the period.
2. Commitments

As at the reporting date, the Company had approved but unexecuted vehicle finance loan commitments amounting to Rs. 54 million.

(Un-audited)

March 31,

2026

March 31,

2025

(Rupees)

20.	CASH AND CASH EQUIVALENT

Cash and bank balances

Short term borrowings

132,303,970	396,521,391
-	-
132,303,970	396,521,391

21.	FAIR VALUES OF ASSETS AND LIABILITIES

The assets carried at fair value are categorised as follows:

Level 1: Quoted market price.

Level 2: Valuation techniques (market observable)

Level 3: Valuation techniques (non-market observables)

The Company held the following assets measured at fair value at reporting date. There were no transfers amongst level of fair value analysis of assets during the period.

Level 2	Level 3	Total
-----------------------(Rupees)-------------------

March 31, 2026 (Un-audited)

Non-financial assets

Financial assets

-	175,032,000	175,032,000
7,211,726	-	7,211,726
7,211,726	175,032,000	182,243,726

June 30, 2025 (Audited)

Non-financial assets

Financial assets

-	175,032,000	175,032,000
7,184,976	-	7,184,976
7,184,976	175,032,000	182,216,976

22.	TRANSACTIONS AND BALANCES WITH RELATED PARTIES

The Company has related party relationships with the companies with common directorship, directors of the Company, key management personnel and employee's contribution plan.

Contributions to the provident fund are made in accordance with the terms of employment. Salaries and allowances of the key management personal are in accordance with the terms of employment.

The Company in the normal course of business carries out transactions with various related parties. These transactions are executed substantially on the same terms as those prevailing at the time of comparable transactions with unrelated parties and donot involve more than a normal risk. Amounts due from and due to related parties are disclosed in the note below

Nine months period ended
March 31,
2026	2025
(Un-audited )
----------------Rupees----------------

22.1	Transactions during the period

Nature of transaction

Nature of relationship

Certificates of investment
Repaid during the period	Board of Directors and their relatives	122,838,866
Finance cost	Board of Directors and their relatives	4,230,308

113,600,932

26,793,072

Dividend

Dividend paid during the period Board members

64,653,277

6,434,076

5,521,204

Board of Directors and their relatives -

Unibro Industries Limited Associated company (Common Directorship) -

Mid-East Agencies (Pvt) Limited Associated company (Common Directorship) -

Staff retirement benefit fund

Contribution for the period

Provident fund

505,026

Remuneration and other benefits

Directors' fee

Chairman' fee / Vice Chairman Fee

Salary and allowances

Board of Directors	1,200,000
Board of Directors	999,999
Key management personnel	11,451,684

1,200,000

749,997

11,089,911

(Un-audited)

(Audited)

March 31,

2026

June 30,

2025

--------------Rupees--------------

22.2	Period / Year ended balances

Certificates of investment (CoIs)

Accrued mark-up on CoIs

Board of Directors and their relatives	41,517,804
Board of Directors and their relatives	3,300,665

105,449,887

50,259,142

23.	SEGMENT INFORMATION

The Company has two primary reporting segments namely, "Lease finance" and "Vehicle finance". Other operations, which are not deemed by management to be sufficiently significant to disclose as separate items and do not fall into the above segment categories, are reported under "Others".

March 31, 2026 (Un-audite d)

(Rupe es)

Lease finance Auto-finance Othe rs Total

Segment revenue	62,838,699	17,736,407	26,068,877	106,643,983
Administrative and operating expenses	18,190,538	5,134,333	11,178,158	34,503,029
Segment result	44,648,161	12,602,074	14,890,719	72,140,954
Provision for Workers' Welfare Fund				(1,150,000)
Reversal / (Provision) for doubtful debts and litigation receivable Unallocated expenses				3,684,375 (11,697,094)
Result from operating activities				62,978,235
Finance cost				(6,409,389)
Provision for taxation				(2,417,364)
Profit for the year				54,151,482
Other Information
Segment assets	814,582,351	191,350,609	367,662,777	1,373,595,737
Unallocated assets				34,403,490
Total assets				1,407,999,227
Segment liabilities	366,166,985	-	15,966,485	382,133,470
Unallocated liabilities				180,725,725
Total liabilities				562,859,195
Capital expenditure	-	-	-	-
Depreciation	-	-	3,631,743	3,631,743
Unallocated capital expenditure				404,650
Unallocated depreciation				749,729
Unallocated amortisation				55,125

March 31, 2025 (Un-audite d)

(Rupe es)

Lease finance Auto-finance Othe rs Total

Segment revenue	100,046,754	13,605,530	59,228,040	172,880,324
Administrative and operating expenses	15,570,815	2,117,502	12,761,844	30,450,161
Segment result	84,475,939	11,488,028	46,466,196	142,430,163
Provision for Workers' Welfare Fund				(1,335,600)
Reversal / Provision for doubtful debts				(8,850,765)
Unallocated expenses				(11,946,388)
Result from operating activities				120,297,410
Finance cost				(32,842,532)
Provision for taxation				(26,498,908)
Profit for the year				60,955,970

June 30, 2025 (Audite d)

(Rupe es)

Other Information
Segment assets	839,245,604	67,096,121	512,033,755	1,418,375,480
Unallocated assets				27,980,660
Total assets				1,446,356,140
Segment liabilities	344,063,130	-	14,470,655	358,533,785
Unallocated liabilities				296,830,555
Total liabilities				655,364,340

March 31, 2025 (Un-audite d)

(Rupe es)

Capital expenditure	-	-	-	-
Depreciation	-	-	3,543,865	3,543,865
Unallocated capital expenditure				200,000
Unallocated depreciation				814,242
Unallocated amortisation				55,125

24.	DATE OF AUTHORISATION FOR ISSUE

These condensed interim financial statements were authorised for issue on April 24, 2026 by the Board of Directors of the Company.

25.

GENERAL

25.1	Corresponding figures have been rearranged wherever necessary; however, there are no material reclassifications to report during the reporting period.

25.2	Figures have been rounded off to the nearest rupee, unless otherwise stated.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

Pak-Gulf Leosing Compony Limited

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