Financial Results for the Third Quarter and Nine Months Ended September 30, 2025

Gross sales

5

10,915,315 9,516,778

3,924,535 3,211,516

Sales tax

  (1,440,448)   (1,244,479)  

   (520,723)     (432,733)  

Net sales

9,474,867 8,272,299

3,403,812 2,778,783

Cost of sales

5

  (5,760,159)   (6,072,653)  

  (1,979,825)   (2,026,808)  

Gross profit

3,714,708 2,199,646

1,423,987 751,975

(285,971)

(314,004)

(217,211)

(415,833)

(251,085]

(95,213)

(123,462

(114,155

(87,010

(160,349

(87,070

(26,471

   (817,186)     (762,131)  

   (324,627)     (273,890)  

Operating profit before other income

2,897,522

1,437,515

1,099,360

478,085

Gain on sale of non current assets classified as held for sale

50,424

Other income

     33,199        85,165  

     13,370          959  

Operating pro'Fit

2,930,721

1,573,104

1,112,730

479,044

Finance cost

   (394,761)  

   (809,964)  

   (100,161)  

249 614

Profit before levy and taxation

2,535,960

763,140

1,012,569

229,430

Minimum tax differential - levy

   (55,854)  

     (14, 028)  

   (22,506)  

12 91 )

Profit before taxation

2,480,106

749,112

990,063

216,513

Taxation

   (971,421)  

   (291,913)  

   (382,942)  

70 224)

Assets

Non-current assets

Property, plant and equipment

6

13,296,643

13,416,451

Intangible assets

25,46?’

14,380

Investment in subsidiary

10

10

Long term loans

21,665

3,956

Long term deposits

80,610

80,610

Current assets

13,424,395

13,515,407

Stores and spares

621,636

547,889

Stock-in-trade

7

745,758

797,098

Trade debts

2,312,535

1,795,432

Loans and advances

119,556

29,71 1

Deposits and prepayments

551,839

445,548

Other receivables

8

908,200

1,146,870

Taxation - net receivable

187,757

Cash and bank balances

1,178,180

562,660

6,437,704

5,512,965

Non current assets classified as held for sale

       5?’,449  

         57,449  

Total assets

   19,919,548  

     19,085,821  

Equity and Liabilities

Share capital and reserves

Authorised share capital

150,000,000 (2024: 150,000,000 ) Ordinary shares of Rs. 10 each

     1,500,000  

     1,500,000  

Issued, subscribed and paid-up capital

87,124,228 (2024: 87,124,228) Ordinary shares of Rs. 10 each

871,243

871,243

Capital reserves

Share Premium

595,092

595,092

Surplus on revaluation of property, plant and equipment

Revenue reserves

4,186,648

4,186,648

General reserves

3,693,204

2,985,666

Unappropriated profit

1,508,685

707,538

     9,983,629  

     8,474,944  

Non-current liabilities

10,854,872

9,346,187

Long term deposits

286,638

260,063

Long term financing

9

2,832,817

3,539,714

Lease liabilities

10

7,983

13,379

Deferred capital grant

1 1

270,774

345,768

Deferred liabilities

594,2?’4

263,928

Current liabilities

3,992,486

4,422,852

Trade and other payables

2,909,306

2,737,951

Short term borrowings

1,388,387

1,987,007

Un-claimed dividend

17,845

18,045

Taxation - net payable

128,615

Current maturity of long term financing

9

521,792

460,608

Current portion of lease liabilities

10

4,895

2,623

Current portion of deferred capital grant

1 1

101,350

1 10,548

     5,072,190  

     5,316,782  

Total equity and liabilities

   19,919,548  

     19,085,821  

Contingencies and Commitments

12

Transfer to gareral reserves

-

-

707,536

(707,538)

- •

Balance ac at September 30, 202a tUn•auatcaj

4,166,646

4,t81,740

3,C93,204

1 506.665

5,Z01 66S "  10,46d,g72   

Cash flow from operating activities

Cash generated from operations

13

3,307,264

1,981,281

Finance cost paid

(472,082)

(751,272)

Levy and income tax paid

(377,398)

(44,654)

Post-retirement medical benefits paid

(4,012)

(258)

Long-term deposits and loans receivable

(17,709)

(5,931)

Long-term deposits payable

26,575

2,889

Net cash generated from operating activities

2,462,638

1,182,055

Cash flow from investing activities

Additions to property, plant and equipment

(526,326)

(574,248)

Additions to intangibles assets

(16,193)

Proceeds from disposal of property, plant and equipment

25,385

85,192

Proceeds from sale of non current assets classified as held for sale (net)

50,820

Interest received on balances with banks

2,956

238

Net cash used in investing activities

(514,178)

(437,998)

Cash flow from financing activities

Repayment of long term financing

(729,904)

(384,524)

Repayment of lease liabilities

(4,216)

(4,041)

Dividends paid

(200)

(450)

Net cash used in financing activities

(734,320)

(389,015)

Net Increase in cash and cash equivalents

1,214,140

355,042

Cash and cash equivalents at beginning of the period

     (1,424,347)  

   (2,524,119)  

Cash and cash equivalents at end of the period

14

     (210,207) 

   (2,169,077)