‌The General Manager,
Pakistan Stock Exchange Limited, Stock Exchange Building,
Stock Exchange Road, Karachi
29 January 2026
Dear Sir,
FINANCIAL RESULTS FOR THE HALF-YEAR ENDED DECEMBER 31, 2025
We wish to inform you that the Board of Directors of the Company, in their meeting held on Thursday, January 29, 2026 at II:00 am at the reglstered office of the Company recommended the following:
Cash Dividend NIL
Bonus Share NIL
Rights Share NIL
In compliance of Notice No. PSX/N-062 dated January 10, 2025, we enclose herewith the following:
Condensed Interim Statement of Financial Position
Condensed Interim Statement ofProfit or Loss (Unaudited)
Condensed Interim Statement of Changes in Equity
Condensed Interim Statement of Cash Flows (Unaudited)
The Quarterly Report of the Company for the period ended December 31, 2025 will be transmitted through PUCARS separately, within the specified time.
DÂ¥
Your truly,
for S curity apers Limited
Yasir Ali Qur i d+* Company Secretary & Chief Legal Of icer
Registered Office & Shares Department :
Factory :
Jinnah Avenue, Malir Halt, Karachi-75100.
Ph.: (92)-021-99248285 Fax No.: (92)-O21-99248286 NTN: 071 2033-8 STR No.02-04-4816-002-64
Jinnah Avenue, Malir Halt, Karachi-'5100. Ph.: 99248536-3T Fax.: 99248616, 99248538
‌CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2025
December 31, June 30,
2025 2025
ASSETS | ||||
Non-current assets | ||||
Property, plant and equipment | 2,417,471 | 1,998,938 | ||
Intangible assets | 11,640 | 13,520 | ||
Long-term investments | 3,822,890 | 3,807,752 | ||
Total non-current assets | 6,252,001 | 5,820,210 | ||
Current assets | ||||
Stores, spares and loose tools | 393,323 | 391,641 | ||
Stock-in-trade | 623,990 | 861,084 | ||
Trade debts - considered good | 1,851,805 | 1,299,514 | ||
Loans, advances, deposits, prepayments and other receivables | 48,614 | 51,862 | ||
Short-term investments | 1,414,318 | 2,722,086 | ||
Cash and bank balances | 437,815 | 203,488 | ||
Total current assets | 4,769,865 | 5,529,675 | ||
TOTAL ASSETS | 11,021,866 | 11,349,885 | ||
EQUITY AND LIABILITIES | ||||
Share capital and reserves Authorised share capital 70,000,000 (June 30, 2025: 70,000,000) ordinary shares of Rs. | 10 each | 700,000 | 700,000 | |
Issued, subscribed and paid-up capital 59,255,985 ordinary shares | ||||
of Rs.10 each | 592,559 | 592,559 | ||
Revenue reserves | ||||
General reserves | 7,875,291 | 7,035,181 | ||
Unappropriated profits | 501,766 | 1,373,408 | ||
8,377,057 | 8,408,589 | |||
TOTAL EQUITY | 8,969,616 | 9,001,148 | ||
Non-current liabilities Deferred taxation - net | 272,566 | 314,875 | ||
Staff retirement benefits | 25,060 | 7,620 | ||
Total non-current liabilities | 297,626 | 322,495 | ||
Current liabilities | ||||
Trade and other payables | 924,242 | 1,232,887 | ||
Unpaid dividend | 711,054 | 615,952 | ||
Unclaimed dividend | 3,852 | 3,523 | ||
Taxation - net | 115,476 | 173,880 | ||
Total current liabilities | 1,754,624 | 2,026,242 | ||
TOTAL LIABILITIES | 2,052,250 | 2,348,737 | ||
TOTAL EQUITY AND LIABILITIES | 11,021,866 | 11,349,885 | ||
(Unaudited) Audited (Rupees in '000) --
‌CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UNAUDITED) FOR THE SIX MONTHS AND THREE MONTHS ENDED DECEMBER 31, 2025
Six Months Ended Three Months Ended
December 31, 2025 | December 31, December 31, 2024 2025 - (Rupees in '000) | December 31, 2024 | |||
Revenue from contracts with customers | 3,740,969 | 4,168,245 | 1,898,146 | 2,109,108 | |
Cost of sales | (2,896,951) | (3 001,136) | (1,528,326) | (1,518,557) | |
Gross profit | 844,018 | 1,167.109 | 369,820 | 590,551 | |
Administrative expenses | (275,033) | (245,033) | (139,753) | (121,318) | |
Other income | 332,386 | 508,463 | 153,465 | 262,979 | |
Other expenses | (66,358) | (101,323) | (28,139) | (50,917) | |
Finance costs | (1,744) | (1,151) | (544) | (679) | |
Profit before taxation | 833,269 | 1,328 065 | 354849 | 680,616 | |
Taxation | |||||
- Current | |||||
- Prior | |||||
- Deferred | |||||
(331,503) | (525,943) | (141,566) | (264,681) | ||
Profit after taxation | 501,766 | 802,122 213,283 | 415,935 | ||
(375,565) | (509,355) | (144,002) | (249,373) |
1,753 | 3,334 | 1,753 | 3,334 |
42,309 | (19,922) | 683 | (18,642) |
(Rupees)
Earnings per share - basic and diluted
8.47 13.54,
3.60
7.02
‌Issued, subscribed and paid•up share capital | Revenue reserves General Unappropriated TOtal equity reserves profit |
---- -- - ---- (Rupees in '000) ----
Balance as at June 30, 2024 (Audited) | 592,559 | 6,246,411 | 1,381,328 | 8,220,298 |
Total comprehensive income for the period | ||||
Profit after taxation | 802,122 | 802,122 | ||
Transactions with owners | ||||
Final cash dividend @ Rs.10 per ordinary | ||||
share for the year ended June 30, 2024 | (592,558) | (592,558) | ||
Transfer to general reserves | 788,770 | (788,770) | ||
Balance as at December 31, 2024 (Unaudited) | 592,559 | 7,035,181 | 802,122 | 8,429,862 |
Balance as at June 30, 2025 (Audited) | 592,559 | 7,035,181 | 1,373,408 | 9,001,148 |
Total comprehensive income for the period | ||||
Profit after taxation | 501,766 | 501,766 | ||
Transactions with owners | ||||
Final cash dividend for the year ended June 30, 2025 at the rate of Rs. 9 per share | (533,298) | (533,298) | ||
Transfer to general reserves | 840,110 | (840,110) |
Balance as at December 31, 2025 (Unaudited) 592,559 7,875,291 501,766 8,969,616
‌CASH FLOWS FROM OPERATING ACTIVITIES
Six Months Ended December 31, December 31,
2025 2024
(Rupees in '000)
Cash generated from operations | 49,061 | 987,003 | |
Taxes paid | (432,216) | (466,260) | |
Finance cost paid | (1,744) | (1,637) | |
Staff retirement benefits paid | (6,881) | (16,733) | |
Net cash (used in) / generated from operating activities | (391,780) | 502,373 | |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Capital expenditure | (569,377) | (247,534) | |
Acquisition of intangible assets | (5,085) | ||
Proceeds from sale of operating fixed assets | 10,650 | 21,963 | |
Investments made during the period | (1,463,202) | ||
Investments matured / redeemed during the period | 1,833,920 | 1,473,100 | |
Gain received on reverse repo transactions | 14J28 | 40,264 | |
Mark-up received | 287,531 | 245,361 | |
Net cash generated from investing activities | 114,250 | 1,528,069 | |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Dividend paid | 437 867 | 549 739) | |
Net cash used in financing activities | (437,867) | (549,739) | |
Net (decrease) / increase in cash and cash equivalents during the period | (715,397) | 1,480,703 | |
Cash and cash equivalents at beginning of the period | 1,153,212 | 842,829 | |
Cash and cash equivalents at end of the period | 437,815 | 2,323,532 |