ex
e0
EA I F G R O UP
Ref: SPL/PSX/08/22/2025
Dated: August 28, 2025
The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road Karachi.
KIMITEOSubject: Financial results for the 2nd Quarter ended June 30, 2025
Dear Sir,
We would like to inform you that the Board of Directors of Sail Power Limited ("the Company") in their meeting held on August 28, 2025 at 12:00 pm, recommended the following:
CASH DIVIDEND- Nil
BONUS SHARES- Nil
RIGHT SHARES - Nil
ANY OTHER ENTITLEMENT/ CORPORATE ACTION- Nil
ANY OTHER PRICE SENSITIVE INFORMATION:
The Board of Directors of the Company, in its meeting held on August 28, 2025, recommended, in terms of Section 199 of the Companies Act, 2017, enhancement of longterm loan by PKR 400 million to Sail Textile Mills Limited, an associated company. The recommendation also includes an addendum to the existing long-term loan, extending the grace period for repayment of the principal installments by an additional one and a half years, with mark-up payable annually, while retaining the existing maturity date of September 27, 2032.
A copy of Statement of financial position, Profit & loss, changes in equity and, cash flow for the half year ended June 30, 2025 are enclosed.
Financial Statements for the half year ended June 30, 2025 will be transmitted through PUCARS within the specified time.
Yours Sincerely,
/or SAIF PO
LIM
aseemullah
Company Secretary
ITED
1st Floor. Kashmir Commercial Complex, Fazal-ul-Haq Road, Blue Area, Islamabad - Pakistan Tel: +92-51-2271378 - 83, Fax: +92-51-2277670 Web: https://www.saifpower.com, Project site: Chak # 56/5L, Qadarabad, District Sahiwal - Pakistan. Rel: +92-040-2010l68-9
SAIF POWER LIMITED
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS FOR THE SIX MONTHS ENDED JUNE 30, 2025
-- -------- - -----•------•-----•---Un-audited------------------------------------•• •
Three Months ended Six Months ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024
Note Rupees
Turnover - net | 15 | 3,279,377,806 2,589,621,286 4,769,713,144 3,654,055,883 | ||
Cost of sales | 16 | (3,252,746,843) (1,598,430,374) (4,452,491,629) (2,201,746,430) | ||
Gross profit | 26,630,963 | 991,190,912 | 317,221,515 | 1,452,309,453 |
Other income | 106,127,114 | 94,245,588 | 112,963,743 | 5,884,804 |
Administrative expenses | (89,616,560) | (79,088,945) | (166,535,975) | (146,166,492) |
Allowance for expected credit loss on financial assets
Operating profit Finance cost
43,141,517 1,006,347,555 263,649,283 1,312,027,765
(174,960,397) (489,693,319) (359,401,423) (793,232,044)
(Loss) / profit before levy and income tax | (131,818,880) | 516,654,236 | (95,752,140) | 518,795,721 | ||||
Levy | ||||||||
(Loss) / profit before income tax Income tax | 17 | (131,818,880) | 516,654,236 | (95,752,140) | 518,795,721 |
(Loss) / profit for the period
(Loss) / earning per share - basic and diluted
Interim Cash Dividend Nil
(131,818_880)" 516,654,236 _""_/95,752,140) 518,795,721
18 (0.34) _ 1.34 1.34
Bonus shares
Right Shares
Nil Nil
SAIF POWER LIMITED
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITIONAS AT JUNE 30, 2025
Un-audited June 30, 2025
Audited Dec 31, 2024
(Restated)
3,864,717,790 | 3,864,717,790 |
6,709,756,357 | 6,876,603,825 |
370,459,132 | 299,363,804 |
Note ----------------Rupees-----------------
Share capital and reserves | |||
Share capital | |||
Unappropriated profit - revenue reserve | |||
Maintenance reserve | 6 | ||
Total equity | 10,944,933,279 | 11,040,685,419 | |
Liabilities | |||
Lease liabilities | 42 826 00 | 2 103 243 | |
Non-current liabilities | 42,826,005 | 62,103,243 | |
Trade and other payables | 7 | 1,013,246,643 | 566,728,416 |
Short term borrowings | 8 | 5,714,690,213 | 7,843,694,690 |
Sub-ordinated loan | 9 | 1,185,014,695 | 1,148,484,429 |
Unclaimed dividend | 26,149,518 | 26,582,714 | |
Current portion of lease liabilities | 33,468,262 | 28,518,258 | |
Current liabilities | 7,972,569,331 | 9,614,008,507 | |
Total liabilities | 8,015,395,336 | 9,676,111,750 | |
Total equity and liabilities | 18,960,328,615 | 20,716,797,169 | |
Contingencies and commitments | 10 | ||
Assets | |||
Property, plant and equipment | 11 | ||
Right of use assets | |||
Advance for capital expenditure | |||
Loan to associated company | 12 | ||
Non-current assets | 10,698,443,680 | 11,062,032,401 | |
Running finance facility to associated company | 12 | 1,666,976,558 | 1,571,659,229 |
Current portion of long term loan to associated company | 12 | 263,758,310 | 203,015,115 |
Stock in trade - HSD | 399,899,816 | 399,899,817 | |
Trade and other receivables | 13 | 2,822,859,242 | 7,329,087,570 |
Advances, deposits and prepayments | 292,378,980 | 125,338,315 | |
Advance income tax | 37,419,598 | 22,540,381 | |
Short term investment | 14 | 2,668,861,230 | |
Bank balances | 109,731,201 | 3,224,341 | |
Current assets | 8,261,884,935 | 9,654,764,768 | |
Total assets | 18,960,328,615 | 20,716,797,169 | |
9,902,758,503 | 10,212,779,928 |
79,705,485 | 100,268,711 |
18,923,345 | |
697,056,347 | 748,983,762 |
The annexed notes 1 to 23 form an integral part of these condensed interim financial statements.
SAIF POWER LIMITED
CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED)FOR THE SIX MONTHS ENDED JUNE 30, 2025
Cash flows from operating activities
Note
June 30, 2025 June 30, 2024
------- Rupees ----------
(Loss) / profit for the period Adjustments for non-cash income and expenses: | (95,752,140) | 518,795,721 | ||
Provision for staff retirement benefits - gratuity | 9,299,448 | 26,968,165 | ||
Depreciation - property, plant and equipment | 318,649,894 | 319,548,184 | ||
Depreciation - right of use assets | 20,563,224 | 5,699,405 | ||
Finance cost | 359,401,423 | 921,176,849 | ||
Gain on disposal of property, plant and equipment | (322,136) | |||
Profit on deposit accounts | (480,946) | (146,374) | ||
Return on investments | (108,614,912) | (5,416,294) | ||
503,065,991 | 1,786,303,520 | |||
Changes in working capita/: | ||||
Trade and other receivables | 4,506,228,328 | 831,781,342 | ||
Advances, deposits and prepayments | (167,040,665) | (162,793,987) | ||
Trade and other payables | 470,116,577 | 1,835,762,563 | ||
Cash generated from operations | 5,312,370,231 | 4,291,053,438 | ||
Income taxes paid | (14,879,217) | (9,867,085) | ||
Finance cost paid | (568,927,199) | (921,385,479) | ||
Staff retirement benefits paid | (32,897,798) | (3,884,204) | ||
Net cash generated from operating activities | 4,695,666,017 | 3,355,916,670 | ||
Cash flows from investing activities | ||||
Acquisition of property, plant and equipment | 11 | |||
Advance for capital expenditure | ||||
Disbursement of long term loan to STML | ||||
Utilization of running finance facility | ||||
Repayment of running finance | ||||
Markup on loan to associated company | ||||
Proceeds from sale of property, plant and equipment | ||||
Insurance claim received | ||||
Profit on deposit accounts - receipts | ||||
Return on investments - receipt | ||||
Net cash from / (used in) investing activities | 143,805,545 | (1,579,760,177) | ||
Cash flows from financing activities | ||||
Repayment of sub-ordinated loan | ||||
Dividend paid | ||||
Short term borrowings | ||||
Lease liabilities paid | ||||
Net cash used in financing activities | (2,064,103,472) | (5,702,573,344) | ||
Net increase / (decrease) in cash and cash equivalents | 2,775,368,090 | (3,926,416,851) | ||
Cash and cash equivalents at beginning of the period | 3,224,341 | 3,957,712,263 | ||
Cash and cash equivalents at end of the period | 19 | 2,778,592,431 | 31,295,412 |
(1,083,583) | (4,124,144) |
(18,923,345) | |
(507,681,000) | |
(1,081,000,000) | (1,043,914,020) |
1,043,199,837 | |
92,516,778 | (36,720,541) |
7,041,360 | |
75,500 | |
480,946 | 146,374 |
108,614,912 | 5,416,294 |
(161,346,584) | |
(433,196) | (670,720,121) |
(2,043,703,266) | (4,845,455,858) |
(19,967,010) | (25,050,781) |
The annexed notes 1 to 23 form an integral part of these condensed interim financial statements
SAIF POWER LIMITED
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025
Unappropriated Share capital profit - revenue
reserve
- Rupees
Maintenance Total equity reserve
518,795,721 | 518,795,721 |
Balance as at January 1, 2024 (Audited) 3,864,717,790 8,087,810,847 213,728,363 12,166,257,000
Profit for the period
Other comprehensive income for the period Total comprehensive income for the period
Transfer from unappropriated profit to maintainence reserve
Balance as at June 30, 2024 - (Un- audited)
- 518,795,721
518,795,721
(24,471,566) | 24,471,566 | |||||
3,864,717,790 | 8,582,135,002 | 238,199,929 | 12,685,052,721 | |||
Balance as at December 31, 2024 -(Audited) - as previosuly reported
Impact of rectification - note 3.3
Balance as at December 31, 2024 - restated
3,864,717,790 | 7,067,016,526 | 299,363,804 | 11,231,098,120 |
(190,412,701) | (190,412,701) |
3,864,717,790 6,876,603,825 299,363,804 11,040,685,419
Loss for the period
Other comprehensive income for the period Total comprehensive loss for the period
Transfer from unappropriated profit
to maintainence reserve
- (96,752,140) | (95,752,140) |
- (95,752,140)
(71,095,328) 71,095,328
(95,752,140)
Balance as at June 30, 2025 - (Un- audited)
3,864,717,790 6,709,756,357 370,459,132 10,944,933,279
The annexed notes 1 to 23 form an integral part of these condensed interim financial statements.