Transmission of Quarterly Report for the nine months period ended 31 March 2026

STRENGTH YOU CAN RELY ON

VISION

STATEMENT

Our Vision is to be Pakistan's Largest ready mix concrete services company, signing under the prominent projects for tomorrow's world of business, harmonizing, innovative and progressive technology with the Company's experience and excellence in the quality of work.

MISSION

STATEMENT

Safe Mix once a dream has shaped into reality, through conviction and untiring efforts to see it grow into a corporate company with one of the principal

market clientele.

The aim of the company is to establish a platform for the transfer of foreign technology with forming the basis for further development in Pakistan.

01 THIRD QUARTER REPORT 2026

CONTENT

1. Company Information

2. Directors' Report

1. Statement of Financial Position

2. Statement of Profit or Loss

3. Statement of Comprehensive Income

4. Statement of Changes In Equity

1. Statement of Cash Flows

2. Notes to the Financial Statements

18 Note to the Shareholders

Safe Mix Concrete Limited 02

COMPANY

INFORMATION

BOARD OF DIRECTORS

Mr. Abdus Samad Habib - Chief Executive Officer

Syed Najmudduja Jaffri - Chairman

Mr. Muhammad Kashif Habib - Director

Mr. Ahsan Anis - Director

Mrs. Anna Samad - Director

Mr. Abdul Qadir - Director Mr. Muhammad Siddiq Khokhar - Director

AUDIT COMMITTEE

Mr. Abdul Qadir - Chairman

Mr. Muhammad Kashif Habib - Member

Mr. Ahsan Anis - Member

HUMAN RESOURCES & REMUNERATION COMMITTEE

Mr. Muhammad Siddiq Khokhar - Chairman Mr. Muhammad Kashif Habib - Member

Syed Najmudduja Jaffri - Member

CHIEF FINANCIAL OFFICER

Mr. Imran Haque

COMPANY SECRETARY

Mr. Dabeer Ullah Sheikh

AUDITORS

RAHMAN SARFARAZ RAHIM IQBAL RAFIQ

CHARTERED ACCOUTANTS

LEGAL ADVISOR

ADVOCATE AHSAN-UL-HAQ ADVOCATES AND CORPORATE COUNCIL

BANKERS AND FINANCIAL INSTITUTIONS

HABIB METROPOLITAN BANK THE BANK OF PUNJAB

BANK ISLAMI PAKISTAN LIMITED BANK ALFALAH LIMITED

SUMMIT BANK LIMITED / BANK MAKRAMAH LIMITED MEEZAN BANK LIMITED

SONERI BANK LIMITED

REGISTERED OFFICE

Plot # 1, Global Industry, Nusrat Bhutto Colony, North Nazimabad

Karachi, Pakistan.

Tel: 92 345 2026369

https://www.safemixlimited.com

SHARES REGISTRAR

THK Associates (Private) Limited Plot # 32-C, Jami Commercial Street 2

DHA Phase VII Karachi

03 THIRD QUARTER REPORT 2026

DIRECTORS' REPORT

Dear Shareholders,

The Board of Directors of your Company is pleased to present their review report on the condensed interim financial and operational performance of your company for the nine-months ended March 31, 2026.

Economic Overview

During the quarter ended March 31, 2026, Pakistan's economy showed gradual stabilization with improved economic activity, better external account indicators, and projected GDP growth of 3.75% to 4.75% for FY2026, as estimated by the State Bank of Pakistan. Inflation remained relatively controlled, though upward pressure emerged due to rising fuel, energy prices and global geopolitical uncertainties, leading the State Bank to maintain the policy rate at 10.5% in March 2026. The ready-mix concrete industry continued to benefit from increased activity in infrastructure development, residential construction, and commercial projects, which supported overall market demand during the period. Nevertheless, the sector remained under pressure due to escalating fuel and energy costs, higher transportation expenses, and rising prices of key raw materials. In addition, elevated financing costs and delays in project execution adversely impacted operational efficiency and profit margins across the industry.

(Rupees) (Rupees)

During the period under review your Company achieved sales of PKR 1.731 billion as compared to PKR 1.12 billion over the corresponding period resulting in positive variance of 54.55%. This increase in sale is mainly due to increase in number of units sold. The cost of sales for the period was PKR 1.46 billion as compared to PKR 0.959 billion in the corresponding period depicting a 52.23% increase of cost which is due to the increase in raw material cost and increase in current sales volume. The Gross Margin of the Company for the current period is 16% as compared to 14% in the corresponding period. The administrative and selling expenses for the period stood at PKR 78.242 million as compared to PKR 51.024 million in the corresponding period.

The profit after taxation for the period arrived at PKR 100.479 million as compared to profit after taxation of PKR 52.917 million in the corresponding period.

Future Outlook

Looking ahead, the Company remains cautiously optimistic while maintaining a prudent outlook amid ongoing global and regional uncertainties. During January to March 2026, the domestic economy showed gradual improvement, supported by stronger industrial activity and a partial recovery in the construction sector, which contributed positively to demand for ready mix concrete. Continued development in infrastructure, commercial, and residential projects is expected to support future opportunities; however, geopolitical tensions, along with rising fuel costs, supply chain disruptions, and inflationary pressures, may continue to affect overall market conditions. In this environment, the Company remains focused on operational efficiency, cost control, and effective execution to sustain performance and manage risks.

In line with its operational strengthening strategy, the Company inducted 8 Transit Mixers (TMs) during the period into its fleet, substantially reducing dependence on rented TMs and enhancing cost efficiency. Additionally, 4 more TMs are expected to be added by the end of April 2026, which will further improve dispatch capacity, minimize turnaround time, and support maximum production output through enhanced service reliability and operational control.

Acknowledgement

On behalf of the Board of Directors, we extend our sincere gratitude to our valued customers and shareholders for their unwavering support and trust, which continues to drive the realization of our vision. We are especially thankful to our banking partners and financial institutions, whose enduring collaboration has been instrumental in enabling the successful execution of our project. We also acknowledge the valuable guidance and regulatory oversight provided by the Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange. Lastly, we commend the dedication and exceptional efforts of our employees, whose commitment remains the cornerstone of the Company's progress.

Abdus Samad Habib Syed Najmudduja Jaffri

Chief Executive Officer Chairman

Dated: 27 April 2026

CONDENSED INTERIM

STATEMENT OF FINANCIAL POSITION

As at March 31, 2026

ASSETS

Non-current assets

Note

(Rupees)

The annexed notes from 1 to 17 form an integral part of these condensed interim financial statements.

Samad Habib

CEO

Kashif Habib

Director

Imran Haque

CFO

CONDENSED INTERIM

STATEMENT OF PROFIT OR LOSS

For the Nine Months and quarter ended March 31, 2026 (unaudited)

Nine Month ended Quarter ended

Samad Habib

CEO

Kashif Habib

Imran Haque

CFO

Director

STATEMENT OF

COMPREHENSIVE INCOME

For the Nine Months and quarter ended March 31, 2026 (unaudited)

Nine Month ended

Quarter ended

(Rupees) (Rupees)

The annexed notes from 1 to 17 form an integral part of these condensed interim financial statements.

Samad Habib

CEO

Kashif Habib

Imran Haque

CFO

Director

STATEMENT OF

CHANGES IN EQUITY

For the Nine Months ended March 31, 2026 (unaudited)

(Rupees)

Balance as at June 30, 2024 (as restated) 250,000,000 14,728,576 116,086,779 380,815,355

Total comprehensive income for the year Nine Months Ended March 31,2024

• Profit after taxation

• Other comprehensive income

  Transaction with owners

• Final dividend @ 20% for the year ended June 30, 2024

  250,000,000 250,000,000	14,728,576 119,004,077 14,728,576 169,070,383					383,732,653 433,798,959
  - -		- -		100,479,745 -		100,479,745 -
  -	- 100,479,745					100,479,745
  -	- (62,500,000)					(62,500,000)
  250,000,000	14,728,576 207,050,128					471,778,704

  Balance as at March 31, 2025 (unaudited) Balance as at June 30, 2025 (as re-stated)

  Total comprehensive income for the year Nine Months Ended March 31,2026

• Profit after taxation

• Other comprehensive income

  Transaction with owners

• Final dividend @ 25% for the year ended June 30, 2025

Balance as at March 31, 2026 (unaudited)

The annexed notes from 1 to 17 form an integral part of these condensed interim financial statements.

Samad Habib

CEO

Kashif Habib

Imran Haque

CFO

Director

STATEMENT OF

CASH FLOWS

For the Nine Months ended March 31, 2026 (unaudited)

CASH FLOWS FROM OPERATING ACTIVITIES

Note

(Rupees)

Samad Habib

CEO

Kashif Habib

Imran Haque

CFO

Director

NOTES TO THE

FINANCIAL STATEMENTS

For the Nine Months ended March 31, 2026 (unaudited)

1. STATUS AND NATURE OF BUSINESS

   1. Safe Mix Concrete Limited ("the Company") was incorporated on 04 April 2005 as Private Limited Company. Subsequently, it was converted into Public Limited Company on 21 February 2007 in accordance with the provisions of section 45 read with section 41(3) of the Companies Ordinance, 1984 (now repealed with the enactment of the Companies Act, 2017 on May 30, 2017). On 16 March 2010 the Company was listed on Karachi Stock Exchange. The principal activity of the Company is production and supply of ready mix concrete.

   2. "The registered office as well as the manufacturing unit of the Company is situated at Plot no. 1, Global Industry, Nusrat Bhutto Colony , North Nazimabad, Karachi."

2. BASIS OF PREPARATION

   1. These condensed interim financial statements (here-in-after referred to as the 'interim financial statements') have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprise of:

      • International Accounting Standard (lAS) 34, 'Interim 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.

        Where the provisions of, and directives issued under, the Companies Act, 2017 differ with the requirements of lAS 34, the provisions of, and directives issued under, the Companies Act, 2017 have been followed.

   2. Basis of measurement

      All the items in these interim financial statements have been measured at their historical cost.

   3. Functional and presentation currency

      Items included in these interim financial statements are measured using the currency of the primary economic environment in which the Company operates. These interim financial statements are presented in Pak Rupees which is the Company's functional and presentation currency.

   4. Judgements and sources of estimation uncertainty

      In preparing these interim financial statements, the significant judgments made by management in applying the Company's accounting policies and the key sources of estimation uncertainty were the same as those applied in the annual financial statements of the Company as at and for the year ended June 30, 2025.

   5. Significant accounting policies

      The significant accounting policies applied in the preparation of these interim financial statements are the same as those applied in the preparation of the annual financial statements of the Company for the year ended June 30, 2025.

      NOTES TO THE

      FINANCIAL STATEMENTS

      Audited 30 June

      2025

For the Nine Months ended March 31, 2026 (unaudited)

1. PROPERTY, PLANT AND EQUIPMENT

   Note

   (Rupees)

   	Operating fixed assets	3.1		436,028,993			268,353,782
   	Capital Work in Progress			35,050,184
   				471,079,177			268,353,782
   3.1	Operating Assets- at the book value
   	Opening Book Value			268,353,782			276,007,874
   	Add: Additions during the period /year			198,541,354			21,405,919
   	Less: Disposals / write-off during the period
   	- at net book value			(4,874,304)			(3,539,187)
   	Provision for Impairment			(1,137,822)			-
   	Depreciation charged during the period			(24,854,017)			(25,520,824)
   				(30,866,143)			(29,060,011)
   				436,028,993			268,353,782

   Unaudited 31 March

   2026

1. DEFERRED TAXATION - Net

   Taxable temporary differences:

   • Accelerated tax depreciation Deductible temporary differences:

   • Alternate corporate tax

   • Right-of-use assets and related lease liability

   • Provision for impairment

   • Provision for WWF

   • Provision for WPPF

   • Provision against ECL

   • Provision for gratuity - net

   Note

   (Rupees)

   (40,609,264)

   76,289,312

   35,680,048

   (51,506,741)

   80,308,589 28,801,848

   265,115

   -

   -3,942,669

   18,624,416

   44,537,813

   8,919,299

3,298,730

350,646

3,797,540

7,624,618

6,107,485

21,179,019

6,652,455

546,418

6,739,100

7,782,018

10,368,459 32,088,450

1. STOCK-IN-TRADE

   Cement Fly Ash Sand Crush Chemical

   NOTES TO THE

   FINANCIAL STATEMENTS

   Audited 30 June

   2025

For the Nine Months ended March 31, 2026 (unaudited)

1. TRADE DEBTS

Note

(Rupees)

(

NOTES TO THE

FINANCIAL STATEMENTS

For the Nine Months ended March 31, 2026 (unaudited)

10.1 Diminishing Musharka Facility - I

(Rupees)

There has been no change in the status of the contingent liabilities as reported in note 23.1 to the annual financial statements of the Company for the year ended June 30, 2025.

Commitments:

There are no material commitments as at March 31, 2026 (June 30, 2025: Nil)

Nine Month ended

Quarter ended

1. REVENUE - NET

   (Rupees)

   (Rupees)

   Sale of concrete mix	1,991,039,618	1,288,282,512	640,044,066	338,841,739
   Less : Sindh sale tax	(259,700,820)	(168,036,849)	(83,484,009)	(66,114,598)
   Revenue	1,731,338,798	1,120,245,663	556,560,057	272,727,141

   NOTES TO THE

   FINANCIAL STATEMENTS

   For the Nine Months ended March 31, 2026 (unaudited)

   Nine Month ended

   Quarter ended

   Unaudited March 31,

   2026

1. COST OF SALES

   Raw Materials Stores Consumed Fuel and power

   Salaries, wages and other benefits Depreciation

   Repair and maintenance

   Site preparation and sample testing Insurance expenses

   Fees and subscription Equipment hiring charges

   (Rupees)

   (Rupees)

   282,302,935

   22,121,327

   33,627,773

   31,636,129

   5,395,038

   7,899,878

   1,142,388

   647,975

   -3,804,768

   388,578,211

   351,390,319

   15,413,383

   40,769,064

   42,079,525

   10,095,765

   4,358,127

   1,995,577

   2,260,078

   -1,929,482

   470,291,320

   701,725,431

   38,005,451

   94,150,094

   84,262,199

   15,975,241

   12,035,722

   3,241,448

   2,055,769

   510,000

   7,186,913

   959,148,268

   1,108,065,756

   37,354,419

   136,360,222

   110,294,967

   21,562,207

   14,519,907

   5,301,578

   5,142,702

   -21,514,971

   1,460,116,729

2. FINANCE COST

   20,749

   1,431,328

   5,923,765

   299,303

   7,675,145

   21,395

   1,639,136

   9,924,310

   644,783

   12,229,624

   26,698

   4,357,598

   23,269,580

   924,515

   28,578,391

   69,464

   4,990,260

   24,352,463

   2,013,829

   31,426,016

   Bank charges

   Interest on workers' profit participation fund Markup on borrowings

   Lease Finance Cost

3. TRANSACTIONS AND BALANCES WITH RELATED PARTIES

   The related party comprise of associated companies, directors and key management personnel. The transactions entered into, and the balances held with, related parties during the period are as follows:

   NOTES TO THE

   FINANCIAL STATEMENTS

   For the Nine Months ended March 31, 2026 (unaudited)

   1. Transactions with related parties

      
      
      

   2. Balances with Related Parties

      
      
      NOTES TO THE

      FINANCIAL STATEMENTS

      For the Nine Months ended March 31, 2026 (unaudited)

4. General

   1. Date of authorization for issue of these interim financial statements

      These interim financial statements have been authorized for issue by the Board of Directors of the Company in their meeting held on Apr 27, 2026.

   2. Level of rounding

In these interim financial statements, all the figures have been rounded off to the nearest rupee.

Samad Habib

CEO

Kashif Habib

Imran Haque

CFO

Director

NOTE TO THE

SHAREHOLDERS

Unclaimed Dividend:

Pursuant to Section 244 of the Act, any shares issued, or dividends declared by the Company, which remain unclaimed for a period of three years from the date they became due and payable shall rest with the Federal Government after completion of procedure prescribed under the Act.

In this respect, Shareholders, who by any reason, could not claim their previous dividends are advised to contact our Share Registrar M/s. THK Associates (Private) Limited, 32-C, Jami Commercial Street 2, D.H.A Phase VII, Karachi 75500, to collect/enquire about their unclaimed dividend, if any. The details of the dividend declared by the Company which have remained due for more than three years are available on the Company's website https://www.safemixlimited.com.

Deposit of Physical shares in CDC Accounts:

The SECP, through its letter No. CSD/ED/Misc/2016-639-640 dated 26 March 2021, has advised the listed companies to adhere with the provisions of the Section 72 of the Act, which requires all the exiting companies to replace shares issued by them in physical form with book-entry form in a manner as may be specified and from the date notified by the SECP within a period not exceeding four years from the commencement of the Companies Act 2017 i.e. 30 May 2017. The shareholders having physical shareholding are requested to open CDC sub-account with any of the brokers or investors account directly with CDC to place their physical shares into scrip less form.

SAFE MIX CONCRETE LIMITED

Plot

1, Global Industry, Nusrat Bhutto Colony, North Nazimabad, Karachi, Pakistan

Helpline

0345-2026369 & 0345-2022473

Website: https://www.safemixlimited.com