TOWARDS A
CIRCULAR ECONOMY
QUARTERLY REPORT 2025
ENDED 30 SEPTEMBER 2024
Head Office: 325 G-III, M. A Johar Town, Lahore. Pakistan | +92 42 35290734-8
info@roshanpackages.com.pk | www.roshanpackages.com.pk
roshanpackagesltd | RoshanPackages.LTD | Roshan Packages Limited |
ABOUT
THIS REPORT
We are delighted to present Roshan Packages Limited's Quarterly Report for 2025, defined by growth, recognition, and our unwavering commitment to sustainability. This year's cover-a breathtaking aerial view of mangrove trees gracefully bridging land and water-beautifully symbolizes the delicate balance we strive to maintain between industry and nature.
Much like these resilient trees, rooted firmly in the shifting tides, we too have rooted sustainability deeply into our processes. A major milestone in this journey has been the attainment of the FSC Chain of Custody Certification, ensuring that our materials come from responsibly managed forests. This isn't just a certification-it's a reflection of our belief that every package we produce should respect the world it inhabits.
Our environmental efforts don't stop at our supply chain. We've taken action on the ground, quite literally. In collaboration with our passionate team and volunteers, we've organized beach clean-up drives along the Karachi coastline and extended our efforts to the historical heart of Old Lahore. These initiatives are more than gestures-they are our hands in the soil, our feet in the sand, reclaiming and protecting Pakistan's natural beauty and cultural heritage.
And while we care for the land, we've also embraced the power of the sun. In a transformative leap forward, a significant portion of our operations is now powered by solar energy, reducing our carbon footprint and harnessing the endless energy of the skies-an emblem of our forward-thinking approach to innovation and sustainability.
The recognition of our efforts culminated in a remarkable achievement: Roshan Packages was named Brand of the Year 2023 in Corrugated and Flexible Packaging Solutions. This award is more than a title-it's a testament to our relentless pursuit of excellence, innovation, and our dedication to creating packaging solutions that serve not just our clients but the planet itself. We are immensely proud of this accolade, which highlights our industry leadership and reaffirms our vision for a more sustainable future.
Just as the mangroves protect coastlines from erosion, we protect the planet through conscious choices-whether it's in sourcing, energy use, or how we design our packaging. As you turn the pages of this report, you'll see how sustainability isn't just part of our business; it's the very heart of it. From our use of eco-friendly materials to our commitment to a circular economy, every decision is guided by a singular mission: to ensure that our legacy is not just one of packaging, but of protection-of nature, resources, and the future we all share.
BRAND OF THE YEAR
Corrugated And Flexible
Packaging Solutions
TABLE OF
CONTENTS
Company Information | 05 |
At a Glance | 07 |
Section 1: Unconsolidated Financial Statements | 09 |
Director's Report | 11 |
Director's Report (urdu) | 14 |
Condensed Interim Unconsolidated Statement Of Financial Position | 15 |
Condensed Interim Unconsolidated Statement Of Profit Or Loss | 16 |
Condensed Interim Unconsolidated Statement Of Comprehensive Income | 17 |
Condensed Interim Unconsolidated Statement Of Cash Flows | 18 |
Condensed Interim Unconsolidated Statement Of Changes In Equity | 20 |
Notes To The Condensed Interim Unconsolidated Financial Statements | 21 |
Section 2: Consolidated Financial Statements | 31 |
Director's Report | 33 |
Condensed Interim Consolidated Statement Of Financial Position | 35 |
Condensed Interim Consolidated Statement Of Profit Or Loss | 36 |
Condensed Interim Consolidated Statement Of Comprehensive Income | 37 |
Condensed Interim Consolidated Statement Of Changes In Equity | 38 |
Condensed Interim Consolidated Statement Of Cash Flows | 39 |
Notes To The Condensed Interim Consolidated Financial Statements | 41 |
ROSHAN
PACKAGES LIMITED COMPANY INFORMATION
05 Quarterly Report 2025 roshanpackages.com.pk
Status: Public Listed Entity
CUIN: 0044226
NTN: 1436951-6
STRN: 03-01-4819-303-73
Board of Directors
Mr. Quasim Aijaz
Chairman
Mr. Tayyab Aijaz
Chief Executive Officer
Mr. Saadat Eijaz
Executive Director
Mr. Khalid Eijaz Qureshi
Non-Executive Director
Mr. Zaki Aijaz
Non-Executive Director
Ms. Ayesha Musaddaque Hamid
Independent/Non-Executive Director
Mr. Muhammad Naveed Tariq
Independent/Non-Executive Director
Company Secretary
Mr. Hammad Khan Sherwani
Chief Financial Officer (CFO)
Mr. Muhammad Adil
Tax Consultant
Zulfiqar Ahmad & Co
Website
www.roshanpackages.com.pk
Banks
Askari Bank Limited
Allied Bank Limited
Bank Alfalah Limited
The Bank of Punjab
Bank Islami Pakistan
Dubai Islamic Bank Limited
Habib Metropolitan Bank
JS Bank Limited
Meezan Bank Limited
Soneri Bank Limited
National Bank of Pakistan
Registered Office
325 G-III, M.A Johar Town, Lahore.
Phone: +92-042-35290734-38
Fax: +92-042-35290731
Factory
Corrugation: 7-KM Sundar Raiwind Road, Opp Gate No 1, Sundar Industrial Estate. Flexible: Plot No 141,142 and 142-B Sunder Industrial Estate Lahore.
Share Registrar
CDC Share Registrar Services Limited
CDC House, 99-B, Block B, S.M.C.H.S. Main
Shahra-e-Faisal,Karachi-74400
Statutory Auditor
KPMG Taseer Hadi & Co
Head of Internal Audit
Mr. Zeeshan Zafar
Stock Symbol
RPL
Quarterly Report 2025 | 06 |
roshanpackages.com.pk
AT A
GLANCE
QUARTERLY | QUARTERLY | QUARTERLY |
NET REVENUE | GROSS PROFIT | PBT |
RS. IN MILLION | RS. IN MILLION | RS. IN MILLION |
2024-25 : 2,369 | 2024-25 : 199 | 2024-25 : 103 |
2023-24 : 3,111 | 2023-24 : 292 | 2023-24 : 160 |
QUARTERLY | QUARTERLY |
PAT | EBIT |
RS. IN MILLION | RS. IN MILLION |
2024-25 : 126 | 2024-25 : 142 |
2023-24 : 107 | 2023-24 : 248 |
QUARTERLY
EBITDA
RS. IN MILLION
2024-25 : 197
2023-24 : 299
QUARTERLY
EPS
RS. IN MILLION
2024-25 : 0.89
2023-24 : 0.75
QUARTERLY
TOTAL EQUITY
RS. IN MILLION
2024-25 : 7,798
2023-24 : 7,672
CURRENT RATIO
RATIO
2024-25 : 1.79
FY 2023-24 : 1.70
QUICK RATIO
RATIO
2024-25 : 1.30
FY 2023-24 : 1.28
07 | Quarterly Report 2025 | Quarterly Report 2025 | 08 |
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SECTION 01
UNCONSOLIDATED
FINANCIAL
STATEMENTS
09 Quarterly Report 2025 | Quarterly Report 2025 | 10 |
roshanpackages.com.pk | roshanpackages.com.pk |
DIRECTORS' REPORT
The Directors of the Company (RPL) are pleased to present their Directors' Report along with the unaudited Financial Statements of the Company for the period ended September 30, 2024.
Financial Overview
The operating results of the Company are summarized as under:
Rupees in '000' | ||
Quarter Ended on | ||
Turnover - Net | Sep-24 | Sep-23 |
2,369,115 | 3,111,236 | |
Operating profit | 93,607 | 188,775 |
Finance cost | 38,396 | 87,987 |
Profit before tax | 103,430 | 160,081 |
Profit after tax | 125,912 | 106,768 |
Earnings Per Share | 0.89 | 0.75 |
Operating Performance
For the quarter ending on September 30, 2024, the Company experienced a reduction in revenue, with net turnover decreasing from Rs. 3,111 million in September 2023 to Rs. 2,369 million in September 2024. Despite this decline, RPL maintained resilience, generating an operating profit of Rs. 94 million. This achievement reflects the success of the Company's strategic cost management efforts, which helped offset the revenue shortfall.
A key highlight for the quarter was the substantial decrease in finance costs, which dropped by 57% from Rs. 88 million in September 2023 to Rs. 38 million in September 2024. This improvement was largely driven by enhanced working capital management, effectively minimizing the impact of prevailing higher interest rates.
In a challenging macroeconomic environment marked by global recessionary pressures, supply chain disruptions, and geopolitical instability, the Company achieved improved profitability. As reflected in the table, profit after tax increased from Rs. 107 million in September 2023 to Rs. 126 million in September 2024.
11 Quarterly Report 2025 roshanpackages.com.pk
DIRECTORS' REPORT
Earnings Per Share
The earnings per share (EPS) for the current quarter compared to the same quarter of the previous fiscal year are as follows:
- EPS-Q1FY 2024-25: Rs. 0.89 per share
- EPS-Q1FY 2023-24: Rs. 0.75 per share
This improvement in EPS highlights the Company's consistent ability to create shareholder value, even amidst a tough economic landscape.
Forward-Looking Statement
Looking ahead, the staff-level agreement with the IMF, combined with easing inflation and a declining policy rate, signals a positive trajectory towards economic stabilization. However, long-term growth will require the continued implementation of reforms aimed at sustaining fiscal discipline, ensuring political stability, and adopting prudent economic policies.
RPL remains focused on its strategic initiatives to enhance operational efficiency and drive innovation. The ongoing solar power project is a key step in reducing energy costs and minimizing the environmental footprint, positioning the Company as a leader in sustainability. Additionally, our efforts to optimize costs and introduce innovative, eco-friendly packaging solutions are expected to capitalize on emerging market opportunities.
The anticipated recovery in consumer spending, coupled with a more favorable business environment, aligns with our long-term strategy of market share expansion and profitability enhancement. Supported by a strong financial foundation, strategic investments, and a dedicated team, RPL is poised to achieve sustainable growth and deliver value to all stakeholders.
Acknowledgment
The Board of Directors extends its sincere gratitude to all employees, customers, shareholders, and business partners for their continued trust and support. We remain committed to driving operational excellence and delivering superior results, and we look forward to achieving greater success together in the coming periods.
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0.89 :2024-2575.0 :2023-24
13 | Quarterly Report 2025 | Quarterly Report 2025 | 14 |
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ROSHAN PACKAGES LIMITED
CONDENSED INTERIM UNCONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024
Sep-24 | ||
ASSETS | Note | Rupees |
Non-current assets |
Jun-24
Rupees
ROSHAN PACKAGES LIMITED
CONDENSED INTERIM UNCONSOLIDATED
STATEMENT OF PROFIT OR LOSS
FOR THE QUARTER ENDED 30 SEPTEMBER 2024
Property, plant and equipment Investment property
Right of use assets Investment in subsidiary Long-term loans - related parties Long term deposits
Current assets
-
5,805,729,397
210,883,551
29,739,039
860,618,966
- 80,515,321
20,854,175
7,008,340,449
5,794,394,825
211,170,928
35,279,265
860,618,966
27,315,320
20,854,175
6,949,633,479
Sep-24 | Sep-23 | ||
Note | Rupees | Rupees | |
Revenue from contracts with customers | 2,788,344,569 | 3,668,325,952 | |
Less: Sales tax | (419,229,343) | (557,089,905) | |
Net revenue | 17 | 2,369,115,226 | 3,111,236,047 |
Stores, spares and other consumables | 7 | 393,786,034 |
Stock-in-trade | 8 | 1,234,698,454 |
Contract assets | 71,971,565 | |
Trade debts - unsecured, considered good | 9 | 1,839,523,630 |
Advances, deposits, prepayments and other receivables | 221,212,071 | |
Taxes & Refunds receivable - net | 10 | 318,079,418 |
Short-term investments | 379,103,615 | |
Cash and bank balances | 11 | 58,697,423 |
TOTAL ASSETS | 4,517,072,209 | |
11,525,412,658 | ||
EQUITY AND LIABILITIES | ||
Share capital and reserves | ||
Authorized share capital | ||
200,000,000 (June 2024: 200,000,000) ordinary shares of Rs. 10 each | 2,000,000,000 | |
Issued, subscribed and paid up share capital | 12 | 1,419,000,000 |
Capital reserves | ||
Share premium | 1,994,789,057 | |
Surplus on revaluation of property, plant and equipment | 2,690,536,780 | |
Revenue reserve | 4,685,325,837 | |
Un-appropriated profit | 1,693,790,729 | |
TOTAL EQUITY | 7,798,116,566 | |
Non-current liabilities | ||
Long-term financing | 60,718,134 | |
Lease liabilities | 18,846,811 | |
Long term musharika | 2,383,716 | |
Deferred tax liabilities | 13 | 1,016,933,167 |
Deferred liabilities | 108,760,395 | |
Current liabilities | 1,207,642,223 | |
388,516,261
1,196,541,348
18,210,430
2,251,651,953
208,776,323
308,981,508
322,295,377
219,337,182
4,914,310,382
11,863,943,861
2,000,000,000
1,419,000,000
1,994,789,057
2,702,797,632
4,697,586,689
1,555,617,812
7,672,204,501
69,392,151
20,267,720
2,070,491
1,084,576,507
120,006,549
1,296,313,418
Cost of revenue | 18 | (2,170,296,958) | (2,818,974,127) |
Gross profit | 198,818,268 | 292,261,920 | |
Administrative expenses | (71,199,780) | (59,701,677) | |
Selling and distribution expenses | (28,909,208) | (32,165,136) | |
Other operating expenses | (5,102,272) | (11,620,067) | |
(105,211,260) | (103,486,880) | ||
Operating profit | 93,607,009 | 188,775,040 | |
Other income | 48,218,877 | 59,293,047 | |
Finance cost | (38,396,100) | (87,986,733) | |
Profit before taxation | 103,429,786 | 160,081,354 | |
Taxation | 19 | 22,482,279 | (53,313,183) |
Profit for the period | 125,912,065 | 106,768,171 | |
Earnings per share - Basic and diluted | 20 | 0.89 | 0.75 |
The annexed notes, 1 to 26, form an integral part of these condensed interim unconsolidated financial statements.
Current portion of long term liabilities Short-term borrowings
Trade and other payables
Contract liabilities
Accrued finance cost
Unclaimed dividend
TOTAL LIABILITIES
TOTAL EQUITY AND LIABILITIES
80,839,331
- 639,638,944
-
1,753,893,522
15,106,702
27,385,397
2,789,974
2,519,653,869
3,727,296,093
11,525,412,658
87,638,340
856,537,330
1,886,941,409
19,310,048
42,192,341
2,806,474
2,895,425,942
4,191,739,360
11,863,943,861
Chief Executive | Director | Chief Financial Officer |
CONTINGENCIES AND COMMITMENTS | 16 |
The annexed notes, 1 to 26, form an integral part of these condensed interim unconsolidated financial statements.
Chief Executive | Director | Chief Financial Officer |
15 Quarterly Report 2025 roshanpackages.com.pk
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ROSHAN PACKAGES LIMITED
CONDENSED INTERIM UNCONSOLIDATED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE QUARTER ENDED 30 SEPTEMBER 2024
Sep-24 | Sep-23 | |
Note | Rupees | Rupees |
Profit for the period | 125,912,065 | 106,768,171 |
Other comprehensive income / (loss) - net of tax: | ||
Items that may be reclassified subsequently to profit or loss: | - | - |
Items that will not be subsequently reclassified in profit or loss: | - | - |
Total comprehensive income for the period | 125,912,065 | 106,768,171 |
The annexed notes, 1 to 16, form an integral part of these condensed interim unconsolidated financial statements.
Chief Executive | Director | Chief Financial Officer |
ROSHAN PACKAGES LIMITED
CONDENSED INTERIM UNCONSOLIDATED
STATEMENT OF CASH FLOWS
FOR THE QUARTER ENDED 30 SEPTEMBER 2024
OPERATING ACTIVITIES
Profit before taxation
Adjustments to reconcile profit before tax to net cash flows:
Depreciation on operating fixed assets
Depreciation on right of use assets
Depreciation of Investment property
Interest income on loans
Finance cost
Provision for gratuity
Provision/(reversal) for loss allowance against trade debts
Profit on bank deposits
Worker's Profit Participation Fund
Worker's Welfare Fund
(Gain) / Loss on disposal of operating fixed assets
Working capital adjustments:
(Increase) / decrease in current assets:
Stores, spares and other consumables
Stock-in-trade
Trade receivables
Contract assets
Advances, deposits, prepayments and other receivables
Sales tax receivable - net
(Decrease) / increase in current liabilities:
Contract liabilities
Trade and other payables
Net Change in working capital
Net cash used in operations
Finance cost paid
Taxes adjusted / (paid)
Gratuity paid
Net increase in long term deposits
Net cash used in operating activities
Sep-24Sep-23
RupeesRupees
103,429,786 160,081,354
49,675,807 45,076,196
5,540,226 5,853,065
287,377 493,968
(4,846,041) (33,910,280)
38,396,100 87,986,733
2,328,486 6,377,484
(24,987,541)-
(18,307,421) (17,562,257)
4,738,827 8,293,525
363,445 3,326,542
- (4,170,708)
156,619,050 261,845,622
(5,269,773) (49,371,893)
(38,157,106) 209,188,917
437,115,864 (332,532,772)
(53,761,135) 44,946,123
(46,491,336) (86,879,633)
(10,135,987)-
283,300,529 (214,649,258)
(4,203,346) 16,728,308
(159,731,968) 252,545,754
(163,935,314) 269,274,062
119,365,215 54,624,804
275,984,265 316,470,426
(52,187,793) (82,704,022)
(22,541,175) (35,049,577)
(18,624,148) (9,327,087)
- (744,350)
(93,353,116) (127,825,036)
182,631,149 188,645,390
17 Quarterly Report 2025 roshanpackages.com.pk
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