For the First Quarter Ended 30th Sept 2025
https://www.premiumtextile.com
TABLE OF CONTENTS
2025Page No | |
Corporate Information | 03 |
Director`s Report | 04 |
Interim Statement of Financial Position | 14 |
Interim Profit & Loss A/c | 15 |
Statement of Comprehensive Income | 16 |
Statement of Changes in Equity | 17 |
Interim Statement of Cash Flows | 18 |
Explantory Notes to the Accounts | 19 |
CORPORATE INFORMATION
BOARD OF DIRECTORS MILL
Mr. Muhammad Aslam Parekh Mr. Abdul Kadir Adam
Mr. Mohammad Yasin Siddik Mr. Mohammad Raziuddin Monem
Ms. Naila Hasan
Mr. Muhammad Sohail Tabba Mr. Khizar Yusuf Sattar
Ms. Lubna Asif Balagamwala Mr. Tanzeel Abdul Sattar (NIT Nominee)
Chairman Chief Executive
Executive Director Independent Director
Independent Director Independent Director Independent Director Non-Executive Director Non-Executive Director
(resigned on October 13, 2025)
(resigned on October 17, 2025)
(appointed on October 13, 2025)
(appointed on October 17, 2025)
Plot 58,60,61 &76,77,78 Main Super Highway, Nooriabad, Distt. Dadu ( Sindh), Pakistan.
Phone : (025) 4007463-9
BANKERS
Bank Al- Habib limited Bank Al- Falah limited Meezan Bank Limited Habib Bank Limited Habib Metropolitan Bank Askari Bank
COMPANY SECRETARY
Mr. Hammad Ullah Khan
MANAGING DIRECTOR
Mr. Zaid Siddik
TECHNICAL DIRECTOR
AUDIT COMMITTEE
Mr. Khizar Yusuf Sattar
Mr. Muhammad Sohail Tabba
Ms. Lubna Asif Balagamwala
Chairman Member Member
Mr. Ashraf Aziz
HUMAN RESOURCES & REMUNERATION COMMITTEE
HEAD OF FINANCE
Mr. Ali Asghar Muhammad Yousuf
CHIEF FINANCIAL OFFICER
Ms. Shenila Parekh
Mr. Khizar Yusuf Sattar
Mr. Muhammad Sohail Tabba
Ms. Lubna Asif Balagamwala
SHARE REGISTRAR
Chairman Member Member
LEGAL ADVISOR
Mr. Farooq Rashid Advocate
AUDITORS
Rahman Sarfaraz Rahim
Iqbal Rafiq Chartered Accountants
HEAD OF INTERNAL AUDIT
Mr. Asif Ahmed
REGISTERED AND CORPORATE OFFICE
1st floor, Haji Adam Chambers, Altaf Hussain Road, New Challi, Karachi.
Phone: 0213 -2400405-8
Email: premhead@premiumtextile.com
FD Registrar Services (SMC-Pvt) Ltd. 17th floor, Saima Trade Tower A I.I. Chundrigar Road, Karachi Phone:0213-2271905-6 fdregistrar@yahoo.com
WEBSITE
https://www.premiumtextile.com
DIRECTOR’S REPORT
Dear Shareholders,
Assalamu Alaikum wa Rahmatullahi wa Barakatuh
The Board of Directors are pleased to present the Unaudited Financial Statements of Premium Textile Mills Limited for the First quarter ended September 30th, 2025.
Operating Result: | ||||
Particulars | Sept -2025 | Sept- 2024 | ||
Amount in million | % | Amount in million | % | |
Sales-net | 5,867 | 7,828 | ||
Gross Profit | 807 | 13.75% | 1,121 | 14.32% |
Administrative expenses | (153) | 2.61% | (136) | 1.73% |
Distribution Cost | (108) | 1.84% | (112) | 1.43% |
Finance Cost | (371) | 6.32% | (663) | 8.46% |
Profit before taxation & Levies | 183 | 3.12% | 285 | 3.6% |
Profit after taxation | 65 | 1.11% | 101 | 1.29% |
During the period under review the company’s net turnover decreased from Rs.7.828 billion to Rs5.867 billion due to reduced demand of yarn at our quoted prices. The gross profit as a percentage of sales reduced to 13.75% as compared to 14.32% in the corresponding period. The Finance cost during the period reduced from Rs.663 million to Rs. 371 million in the same period last year.
During the year the overall sales volume reduced in the spinning section while prices of yarn also have reduced from Rs.35,264 to Rs. 32,158 per bag as compared to corresponding period last year. The sales of socks have increased in terms of both volume and price.
The Administrative expenses have increased due to Software and salaries and wages because of hiring of additional staff at the factory in the socks division while distribution costs have reduced in the spinning section and increased in the socks division due to aggressive marketing efforts in socks.
The finance costs have reduced during the period due to reduction in kibor rates by SBP &, lower reduced markup rate for export refinance scheme. The company therefore booked a net profit after tax of Rs.65.005 million in Sept 2025.
BRIEF OVERVIEW
Socks Division:
During the quarter we have acquired 32 knitting machines in the socks section which will increase production capacity by 350 thousand dozen socks. Socks is operating at full capacity due to good export orders obtained. Further, the company intends to add another 52 machines to meet capacity restraints.
Spinning Division:
Volumes were below expectations during the first quarter; however, we have seen slight improvement in market sentiment which is expected to increase turnover and margins. We had envisaged a loss in the spinning budget for the quarter because of inability to sell the yarn with a profitable margin. The situation will ease in the next quarters to come in light of the new policy imposed by the government of fixing tax @ 18% on imported raw material as well.
The company has secured financial close for the wind power project of 7.5 MW. This together with our solar grid will reduce conversion costs to ensure that the company remains cost effective and reduces carbon footprint.
FUTURE OUTLOOK
Looking ahead, Premium Textile Mills anticipates a period of cautious optimism as global textile demand shows signs of gradual stabilization. The company continues to focus on enhancing operational efficiencies, cost competitiveness and sustainability while navigating a dynamic international business environment.
Export of yarns and socks to the United States and European markets are expected to maintain moderate growth momentum, supported by gradual recovery in consumer spending and normalization of inventory levels in key retail segments. Nevertheless, the company remains mindful of global economic headwinds, fluctuating interest rates and potential currency volatility, which may impact export and local markets in the short term.
In terms of raw material inputs, cotton procurement will continue from diverse international sources to ensure availability and cost efficiency amid fluctuating global cotton prices and US Tariffs. Polyester Fiber imports from China are expected to remain steady, aided by relative stability in global petrochemical markets and improved shipping conditions. The company’s prudent inventory management policies and diversified sourcing strategy will continue to mitigate risks associated with global commodity price swings.
During the quarter, the company also initiated work on the installation of a wind turbine project expected to be completed within approximately 11 months. Upon commissioning, this renewable energy initiative will significantly reduce the company’s electricity costs, enhance energy security and contribute toward long–term sustainability goals. The investment reflects the company’s commitment to environmental responsibility and cost optimization through renewable energy integration.
Furthermore, recent policy changes in Pakistan ‘s Export Finance scheme (EFS)-particularly the implementation of sales tax on imported yarn – have created a competitive advantage for domestic yarn manufacturers. The EFS is finished, and this development is expected to strengthen the local spinning industry by promoting domestic value addition and reducing reliance on imported yarns. Premium Textile Mills is well positioned to benefit from this regulatory change through enhanced capacity utilization and improved export competitiveness.
Overall, management remains focused on maintaining financial discipline, pursuing value added Product development and leveraging its sustainability initiatives to strengthen long term profitability. While external challenges persist, the company’s strategic investments and prudent operational management are expected to contribute positively to its performance in the coming quarters.
COMPOSITION OF THE BOARD
The total number of Directors are 7 as follows: Male - 6
Female - 1
The composition of the Board is as follows:
Independent Directors Mr Muhammad Sohail Tabba (appointed on October 13, 2025)
Mr. Khizar Yusuf Sattar (appointed on October 17, 2025)
Mr Muhammad Raziuddin Monem (resigned on October 13, 2025)
Ms. Naila Hasan (resigned on October 17, 2025)
Non – Executive Directors Mr Mohmammad Aslam Parekh
Ms Lubna Asif Balagamwala Mr Tanzeel Abdul Sattar
Executive Directors Mr Abdul Kadir Adam
Mr Mohammad Yasin Siddik
Further, there is no change in the remuneration policy of non-executive directors as disclosed in notice of the AGM in the annual report 2024.
The Board committees comprise of Audit Committee
Human Resource and Remuneration Committee
The members are
Audit Committee
Mr. Khizar Yusuf Sattar- Chairman
Mr Muhammad Sohail Tabba - Member Ms Lubna Asif Balagamwala - Member
Human Resource and Remuneration Committee
Mr. Khizar Yusuf Sattar- Chairman
Mr Muhammad Sohail Tabba - Member Ms. Lubna Asif Balagamwala -Member
ACKNOWLEDGEMENT
We would like to acknowledge the hard work, loyalty, contribution and devotion of our staff and workers. We would also like to express our thanks to our customers for the trust shown in our products and the bankers for their continued support of the company. We are also grateful to our shareholders for their confidence in the Management team.
FOR AND ON BEHALF OF BOARD OF DIRECTORS
Mr. Abdul Kadir Adam Chief Executive
Mr. Muhammad Yasin Siddik Executive Director
October 17, 2025 Karachi.
2025
2025
2025 17
13
17
2024
AGM
2.
11
EFS
EFS
7
6
1
18
7.5
r?rp
32,158 35,264
2025
65.005
32
350
52
30
2025
2025 | 2024 | |||
% | ( | ( | ||
5,867 | 7,828 | |||
13.75 % | 807 14.32% | 1,121 | ||
2.61% | (153) 1.73% | (136) | ||
1.84% | (108) 1.43% | (112) | ||
6.32% | (371) 8.46% | (663) | ||
3.12% | 183 3.6% | 285 | ||
1.11% | 65 1.29% | 101 |
13.75
Premium Textile Mills Limited
Statement of Financial Position
As at September 30, 2025
30 September 30 June
2025 2025
ASSETS –––––––––Rupees ––––––––-
Non- current assets
Property, plant and equipment | 14,208,883,487 | 14,559,207,565 | |
Long term advances and deposits | 42,618,851 | 34,927,847 | |
14,251,502,338 | 14,594,135,412 | ||
Current assets | |||
Stores and spares | 693,614,533 | 759,667,410 | |
Stock in trade | 5,794,183,093 | 6,375,813,009 | |
Trade debts - net | 5,352,735,447 | 6,722,387,168 | |
Tax refunds due from Government | 439,289,493 | 646,403,919 | |
Loan,advances, deposits prepayments and other receivables | 214,529,688 | 175,693,278 | |
Short term investment | 9,453,333 | - | |
Cash and bank balances | 103,614,859 | 190,022,898 | |
12,607,420,446 | 14,869,987,682 | ||
Total assets | 26,858,922,784 | 29,464,123,094 | |
EQUITY AND LIABILITIES | |||
Share capital and reserves | |||
Authorized capital 7,000,000 (2023: 7,000,000) ordinary shares of Rs. 10/- each | 70,000,000 | 70,000,000 | |
Issued, subscribed and paid-up capital | 61,630,000 | 61,630,000 | |
Capital reserve | |||
Surplus on revaluation of plant and electrical instruments | 899,852,721 | 926,387,771 | |
Revenue reserve | |||
Unappropriated profits | 7,851,867,032 | 7,760,326,066 | |
Total equity | 8,813,349,753 | 8,748,343,837 | |
LIABILITIES | |||
Non-current liabilities | |||
Long term financing - secured | 6,304,764,491 | 6,327,153,557 | |
Deferred liabilities | 1,463,694,469 | 1,447,773,413 | |
7,768,458,960 | 7,774,926,970 | ||
Current liabilities | |||
Trade and other payables | 2,202,603,816 | 1,894,845,666 | |
Accrued markup | 249,215,474 | 273,027,631 | |
Short term borrowings - secured | 6,281,345,409 | 9,051,289,516 | |
Unclaimed dividend | 10,443,087 | 10,443,087 | |
Current maturity of government grant | 198,022,091 | 198,022,091 | |
Current maturity of Gas Infrastructure Development Cess | 211,438,954 | 211,438,954 | |
Current maturity of long term financing | 1,124,045,240 | 1,301,785,342 | |
10,277,114,071 | 12,940,852,287 | ||
Contingencies and commitments | |||
Total equity and liabilities | 26,858,922,784 | 29,464,123,094 | |
The annexed notes form an integral part of these financial statements. |
Chief Executive Officer Director Chief Financial Officer
Premium Textile Mills Limited
Statement of Profit or Loss
For the first quarter ended September 30, 2025
July-September July-September
2025 2024
––––––––– Rupees ––––––––-
Sales - net | 5,867,918,311 | 7,828,621,637 | |
Cost of sales | (5,059,953,651) | (6,707,510,087) | |
Gross profit | 807,964,660 | 1,121,111,550 | |
Administrative expenses | (153,001,938) | (136,620,497) | |
Distribution costs | (108,201,825) | (111,680,530) | |
(261,203,763) | (248,301,027) | ||
Operating profit | 546,760,897 | 872,810,523 | |
Finance costs | (371,224,857) | (663,255,969) | |
Other income / (expenses) - net | 7,398,792 | 75,926,340 | |
(363,826,065) | (587,329,629) | ||
Profit before levies and taxation | 182,934,832 | 285,480,894 | |
Levies | (93,542,116) | (184,391,896) | |
Profit before taxation | 89,392,716 | 101,088,998 | |
Taxation | (24,386,800) | - | |
Profit after taxation | 65,005,916 | 101,088,998 | |
Earnings per share - basic and diluted | 10.55 | 16.40 | |
The annexed notes form an integral part of these financial statements. |
Chief Executive Officer Director Chief Financial Officer
Premium Textile Mills LimitedStatement of Comprehensive Income
For the first quarter ended September 30, 2025
July-September July-September
2025 2024
–––––––Rupees ––––––-
Profit after taxation 65,005,916 101,088,998
Other comprehensive income
Items that will not be reclassified subsequently to statement of profit or loss
Actuarial loss on defined benefit obligation | - | - | |
Revaluation increase during the period | - | - | |
Total comprehensive income for the period | 65,005,916 | 101,088,998 | |
The annexed notes form an integral part of these financial statements. |
Chief Executive Officer Director Chief Financial Officer
Premium Textile Mills Limited
Statement of Changes in Equity
For the first quarter ended September 30, 2025
Issued,
Revenue reserve Capital
reserve
Surplus on
subscribed and paid up capital
Unappropriated
profits
revaluation of
plant and equipment
Total
––––––––––––––––––––––––––––––– Rupees ––––––––––––––––––––––––––––––––-
Balance as at June 30, 2024-restated | 61,630,000 | 7,422,728,578 | 1,030,764,869 | 8,515,123,447 |
Total comprehensive income for the quarter ended September 30,2024 | ||||
| - - | 101,088,998 - | - | 101,088,998 - |
Transfer to unapproppriated profit on | - | 101,088,998 | - | 101,088,998 |
account of incremental depreciation | - | 28,022,922 | (28,022,922) | - |
Revaluation surplus realized on disposal of fixed assets | - | - | - | - |
Balance as at September 30, 2024 | 61,630,000 | 7,551,840,498 | 1,002,741,947 | 8,616,212,445 |
Total comprehensive income for | ||||
Oct'24 - Jun'25 | ||||
- Profit after taxation | - | 89,826,251 | - | 89,826,251 |
- Other comprehensive (loss) / income | - | 42,305,141 | - | 42,305,141 |
- | 132,131,392 | - | 132,131,392 | |
Transfer to unapproppriated profits on | ||||
account of incremental depreciation - | 75,042,084 | (75,042,084) | - | |
Revaluation surplus realized on disposal of fixed assets - | 1,312,092 | (1,312,092) | - | |
Transactions with owners
Final cash dividend paid @ NIL% for the year ended June 30, 2024 (2023: 250%) | - | - | - | - | |||
- | - | - | - | ||||
Balance as at June 30, 2025 | 61,630,000 | 7,760,326,066 | 926,387,771 | 8,748,343,837 | |||
Total comprehensive income for the | |||||||
quarter ended September 30,2025 | |||||||
- Profit after taxation | - | 65,005,916 | - | 65,005,916 | |||
- Other comprehensive (loss) / income | - | - | - | - | |||
Transfer to unapproppriated profit on | - | 65,005,916 | - | 65,005,916 | |||
account of incremental depreciation | - | 26,535,050 | (26,535,050) | - | |||
Revaluation surplus realized on disposal of fixed assets | - | - | - | - | |||
Balance as at September 30, 2025 | 61,630,000 | 7,851,867,032 | 899,852,721 | 8,813,349,753 | |||
The annexed notes form an integral part of these financial statements.
Chief Executive Officer Director Chief Financial Officer
`
Premium Textile Mills Limited
Statement of Cash Flows
For the first quarter ended September 30, 2025 July-September July-September
2025 2024
CASH FLOWS FROM OPERATING ACTIVITIES ––––––––– Rupees ––––––––-
Profit before levies and taxation | 182,934,832 | 285,480,894 | |
Adjustments for non cash and other items: | |||
- Depreciation | 360,590,375 | 357,346,593 | |
- Loss/ (Gain) on disposal of property, plant and equipment | 2,057,828 | (2,058,141) | |
- Provision for staff retirement benefits | 36,236,485 | 33,722,590 | |
- Unrealized exchange gain-reversal | (1,319,867) | (1,871,299) | |
- Finance cost Charged | 371,224,857 | 663,255,969 | |
768,789,678 | 1,050,395,712 | ||
Cash generated from operating activities before working capital changes | 951,724,510 | 1,335,876,606 |
Effect on cash flow due to working capital changes
(Increase) / decrease in current assets
- Stores and spares | 66,052,877 | 80,135,299 | |
- Stock in trade | 581,629,916 | (736,401,197) | |
- Trade debts | 1,369,651,721 | 103,477,577 | |
- Advances, deposits and other receivables | (38,836,410) | 6,521,135 | |
- Sales tax | 121,812,469 | (154,451,717) | |
- Short term investment | (9,453,333) | - | |
Increase / (decrease) in current liabilities | |||
- Trade and other payables | 307,758,150 | (631,293,483) | |
2,398,615,390 | (1,332,012,386) | ||
Cash generated from operations | 3,350,339,900 | 3,864,220 | |
- Taxes paid | (130,666,950) | (40,120,697) | |
| (20,315,429) (395,037,014) | (25,703,447) (564,361,017) | |
- Long term advances and deposits - net | (7,691,004) | 477,160 | |
Net cash generated from operating activities | 2,796,629,503 | (625,843,781) | |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
- Acquisition of property, plant and equipment | (386,104,578) | (222,605,999) | |
- Proceeds from disposal of property, plant and equipment | 6,400,000 | 4,612,000 | |
Net cash used in investing activities | (379,704,578) | (217,993,999) | |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
- Repayment of Long term financing (principal portion) | (271,463,331) | (357,005,532) | |
- Long term financing obtained | 92,656,000 | ||
- Short term borrowings - net | (1,672,754,479) | 1,573,582,573 | |
- Dividend paid | - | (5,006) | |
Net cash generated from financing activities | (1,851,561,810) | 1,216,572,035 | |
Net (decrease) / increase in cash and cash equivalents | 565,363,115 | 372,734,255 | |
Cash and cash equivalents at the beginning of the period | (1,945,052,993) | (3,362,380,745) | |
Cash and cash equivalents at the end of the period | (1,379,689,878) | (2,989,646,490) | |
The annexed notes form an integral part of these financial statements. | |||
Chief Executive Officer Director Chief Financial Officer
EARNING PER SHARE (Un-audited)
For the first quarter ended September 30, 2025
FIRST QUARTER ENDED | ||
30-Sep 2025 | 30-Sep 2024 | |
Rupees | Rupees | |||
Net profit after tax for the period | 65,005,916 | 101,088,998 | ||
Number of Ordinary shares | 6,163,000 | 6,163,000 | ||
Earning per share | Rs. | 10.55 | Rs. 16.40 | |
SELECTED EXPLANATORY NOTES TO THE ACCOUNTS FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025
THE COMPANY & ITS OPERATION
Premium Textile Mills Limited ('the Company') was incorporated in Pakistan on march 03, 1987 as a public listed company under the Companies Ordinance, 1984 (now repealed with the enactment of Companies Act, 2017 on May 30,2017) and is listed on Pakistan Stock Exchange Limited. The principal activity of the Company is manufacturing and sale of cotton,polyester yarn & Socks of different varieties.
The geographical location and address of company's business units, including plant are as under:
- The registered office of the Company is located at 1st Floor, Haji Adam Chambers, Altaf Hussain Road, New Challi, Karachi.
The Company's manufacturing facility is located at plots no 22, 23, 60, 61, 76, 77, 59, 57, 78, 140, 142, 157, 208/1, 223/1, 224/1, 225/1, 226, 227/1, 239/1, 240/1, 241, 242/1, 243, 244, 245, 246/1, 308/1, 309/1, 310/1, 311/1, 312/1, 313/1, 314/1,
315/1 comprising 107.575 acres and situated at M-9 Motorway (Super Highway) Deh Kalo Kohar, Tappo Kalo Kohar, Taluka Thano Bola Khan, District Jamshoro.
These financial statements have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for Financial reporting. The accounting and reporting standards as applicable in Pakistan for financial reporting comprise of:
International Accounting Standard (lAS), Financial Reporting, issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 2017; and
Provisions of and directives issued under the Companies Act, 2017.
These accounts are unaudited and are being submitted to shareholders in accordance with the requirements of Section 237 of the Companies Act, 2017.
RELATED PARTY TRANSACTION AND BALANCES
Related parties comprise of associated companies, key management personnel of the Company (including directors) and their close family members. Transactions entered into and balances held, with related parties during the period, are as follows:
Rupees
Jul-Sep
2025
Rupees
Jul-Sep
2024
Pinnacle Fibre (Pvt) Ltd. Shareholding : 0 % Shareholding
Relationship : Common directorship of Mr.Abdul Kadir Adam & Mr.M.Aslam Parekh
Purchase of goods during the period | 47,980,056 | 413,475,485 | ||
Outstanding balance due as at Sept 30, | 31,302,025 | 19,739,894 | ||
5) | AUTHORISATION FOR ISSUE |
These accounts have been authorised for issue on 21-October-2025 by the Board of Directors of the Company.
6) Figures have been rounded off to the nearest rupee.
UNDER POSTAL CERTIFICATEBOOK POST PRINTED MATTERIf undeliverable please return to: PREMIUM TEXTILE MILLS LIMITED
1st Floor, Haji Adam Chamber, Altaf Hussain Road, New Challi, Karachi – 74000, Pakistan. Tel: +92 213 2400405-8
Fax: 92 21 32417908
premhead@premiumtextile.com https://www.premiumtextile.com
Pertaining to the Cover:
"Our journey to Net Zero is powered by innovation, rooted in responsibility.
At Premium Textiles, we’re reimagining sustainability — through solar energy, urban greenery, and zero-waste goals."
1st Floor, Haji Adam Chambers, Altaf Hussain Road , New Challi, Karachi, Pakistan.
Tel: 92 21 32400405-8
Fax: 92 21 32417908
https://www.premiumtextile.com
Reach us out at: ask@premiumtextile.com