Financial Results for the Year Ended 30 September 2025

Shakarganj Limited

Management House, Toba Tek Singh Road, Jhang - 35200, Pakistan Tel: (047) 111 111 765 Fax: (047) 763 1011 URL: http://www.shakarganj.pk

SML/PSX/Sep 2025

13 January 2026

Stock Exchange Building Stock Exchange Road Karachi

SUBJECT: FINANCIAL RESULTS FOR THE YEAR EHDED 30 SEPTEMBER 2025

Dear Sir,

We have to inform you that the Board of Directors of our Company in their meeting held on 13 January 2026 at 10:30 Hours at Lahore, through video-link, recommended the following:

1. CASH DIVIDEND

   A final Cash Dividend for the year ended 30 September 2025 at Rs. NIL per share

   i.e. NIL %. This is in addition to Interim Dividend(s) already paid at Rs. _NIL_ per share

   i.e. _NIL_ %.

   AND/OR

2. BONUS SHARES

   It has been recommended by the Board of Directors to issue Bonus Shares in the proportion of NIL share(s) for every NIL share(s) held i.e. NIL %. This is in addition to the Interim Bonus Shares already issued @_NIL_ %.

   AND/OR

3. RIGHT SHARES

   The Board has recommended to issue _NIL_% Right Shares at par/at a discount/premium of Rs. NIL per share in proportion of NILE share(s) for every _NIL share(s). The entitlement of right shares being declared simultaneously will be / will not be applicable on Bonus Shares as declared above.

   Principal Office:

   Executive Floor, IT Tower,73 E I Hali Road, Gulberg III

   Lahore - 54600, Pakistan Tel: (042) 111 111 765

   Fax: (042) 3578 3811

   Faisalabad Office: Chak Jhumra Road Nishatabad

   Faisalabad - 38000, Pakistan Tel: (041) 875 2810

   Fax: (041) 875 2811

   Shakarganj Limited

   Management House, Toba Tek Singh Road, Jhang - 35200, Pakistan Tel: (047) 111 111 765 Fax: (047) 763 1011 URL: http://www.shakarganj.pk

   AND/OR
4. ANY OTHER ENTITLEMENTICORPORATE ACTION

   NIL

   AND/OR

5. ANY OTHER PRICE-SENSITIVE INFORMATION

   The auditors' report contains the following observation:

   “In our opinion and to the best of our information and according to the explanations given to us, because of the significance of the matters described in Basis for Adverse Opinion Paragraph, the unconsolidated statement of financial position, the unconsolidated statement of profit or loss, the unconsolidated statement of comprehensive income, the unconsolidated statement of changes in equity and the unconsolidated statement of cash flows together with the notes forming part thereof do not conform with the accounting and reporting standards as applicable in Pakistan and do not give the information required by the Companies Act, 2017 (XIX of 2017), in the manner so required and respectively do not give a true and fair view of the state of the Company's affairs as at September 30, 2025 and of the loss, the other comprehensive income, the changes in equity and its cash flows for the year then ended.

   Basis for Adverse Opinion

   1. The Company has again sustained loss after income tax for the year ended September 30, 2025 amounting to Rs. 2,592.804 million, which took the accumulated loss to Rs. 6,865.449 million at the reporting date along with adverse current ratio at that date. Further, the textile segment of the Company remained closed during the year as well as in the last couple of years. The Company has also overdue statutory obligations. The disposal of certain assets are held up due to court cases, while the company needs funds for the upgradation of plant & machinery of textile and sugar divisions at Jhang. There is no written commitment from the directors / shareholders of the company to finance its above said obligations / working capital requirements.

      All these situations indicates that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern, which has not been appropriately resolved, assessed and disclosed in these financial statements.

   2. The sugar stock weighing 520 metric tons amounting to Rs. 62.134 million as included in note 12 of these financial statements has not been physically verified by us at the reporting date i.e. September 30, 2025, as it was lifted as export to Afghanistan in the month of August 2024, but could not be transported there for want of certain political restrictions and thus stated to be stored in Peshawar until September 30, 2025. Similarly, an amount of Rs. 88.937 million was stated to be received as advance against this export prior to August 2024 and appearing as unadjusted until the reporting date, which was duly

Principal Office:

Executive Floor, IT Tower, 73 E I Hali Road, Gulberg Ill

Lahore - 54600, Pakistan Tel: (042) 111 111 765

Fax: (042) 3578 3811

Chak Jhumra Road Nishatabad

Faisalabad - 38000, Pakistan Tel: (041) 875 2610

Fax: (041)875 28t 1

Shakarganj Limited

M«nogenicnl House, Toba Tek Slngli Road, Jhang - 35200, r'•klstan Tal. (047) 111 111 7G5 Fcx: (047) 7G3 1011 URL: http://www,shakarganj.pk

coiifinned fry e pnrty stnted to be correspondent of the above said importer (Of

Afgl›ai istai ) in Karachi. Since those transactlons that Is stock of sugar of 520 M. TONS mcd advance received there-against were not dlreclly and appropriately crossed verified thus remained unverified to that extent.

We conducted our audit in accordance with International Standards on Auditing (ISAs) as applicable in Pakistan. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Unconsolidated Financial Statements section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants as adopted by the Institute of Chartered Accountants of Pakistan (the Code) and we have fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our adverse opinion.”

However, the Company has prepared its financial statements as a going concern, based on the Turn Around Plan of the Company. The Company plans to sell certain surplus assets and is hopeful that it will be able to pay off its liabilities during the subsequent periods.

The unconsolidated and consolidated financial results of the Company are attached.

The Annual General Meeting of the Company will be held on Monday, 09 February 2026 at 10:00 Hours, at Shakarganj Limited, Management House, Toba Road, Jhang and through video-link.

The Share Transfer Books of the Company will be closed from 02 February 2026 to 09 February 2026 (both days inclusive). Physical transfers received at the office of Share Registrar of the Company i.e. CorpTec Associates (Pvt.) Limited, 503-E, Johar Town, Lahore, at the close of business on 31 January 2026, will be treated in time for the entitlement to attend the Annual General Meeting of the Company.

The Annual Report of the Company will be transmitted through PUCARS atleast 21 days before holding of Annual General Meeting.

Yours Sincerely,

ompany Secretary

Executive Director/HOD, Supervision Division, SECP, Islamabad.

Principal Office:

Executive Floor, IT Tower, 73 E I Hali Road, Gulberg III

Lahore - 54600, Pakistan Tel: (042) 111 111 765

Far (042) 3578 3811

Faisalabad Office: Chak Jhumra Road Nlshatabad

Falsalabad - 38000, Pakistan

Tel: (041) 875 2810

Fax: (041) 875 2811

SHAKARGANJ LIMITED

UNCONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 302925

2025

Restated 2024

Restated 2023

ASSETS

NON-CURRENT ASSETS

Note

Rupeesin 000s

Property, plant and eouipmenl Biolog cai assels

Long term invcslmenls

Long term advances and deposits

6 15,707,378

9 35,535

13,915,627

34,404

2153,683

35.535

14,66f,871

28,889

2,167,139

36,135

EmployeoS' retirement benefits

54,180

17,975

CURRENT ASSETS

Biological assels

Stores, spare parts and loose tools Stock-in-trade

Trade debts

Loans and advances

Prepaymenls and olher receivables Cash and bank balances

7

11

12

13

14

15

16

17,759,400

95,713

838,810

17,425

364,638

297,566

1,684

1,615,836

16,157,224

1,571,692

16,894,034

2,269,158

Non-cuventasso|shedforsae

TOTAL ASSETS

EQUITY AND LIABILITIES

SHARE CAPITAL AND RESERVED

issued, subscribed and paid-up share capital Capifa/ reserves

Surplus on revaluation ol property, plant and equipment - net of deferred income tax Olher capital reserves

17

1,615,836

19,375,236

18 1,250,000

10,697,453

2,245,345

19

19

1,661,940

17,819,164

1,250,000

2,359,406

19,253,440

1,250,000

Revenue reserves

Accumulated loss

NON-CURRENT LIABILITIES

Long term financing Employees' rclirement benefits Deferred income tax liability

CURRENT LIABILITIES

Trade and other payables Contracl liabililies

Short term borrowings Accrued mark-up

Current portion of non-current liabilities Unclaimed dividend

Provision (or laxa{ion

CONTINGENCIES AND COMMITMENTS TOTAL EQUITY AND LIABILITIES

The annexed notos form an integral part of these financial statements.

12,942,798

(6,865,449)

7,327,349

411,675

3,015,606

20

21

22

3,427,281

6,465,217

1,728,513

323,173

17,738

1,842

B4,123

23

24

25

26

20

27

8,620,606

28

19,375,236

t1,073,231

(5,036,733)

;,286,498

3,452,913

7,079,753

17,819,164

12,065,081

(2,856,627)

10,458,454

3,196,646

5,598,340

19,253,440

LAHORE CHIEF EXECUTIVE OFFICER CHIEFFNANCIALOFFIC£R DIRECTOR

SHAXARGANJ LIMITED UNCONSOLDATEDSTATEMENTOFPROMTORLOSSFORTHEYEAREND EDSEPTEM8ER30 Z025

Note

Resaed

2025 2024

RupeesinOOOs

LOSS FROM OPERATIONS

OTXER INCOME FINANCE COST

SHARE OF LOSS FROM EQUITY ACCOUNTEINDVESTEE

LOSS BEFORE INCOME TAX AND LEVY LEW

LOSS BEFORE INCOME TAX INCOME TAX

LOSS AFTER INCOME TAX FOR THE YEAR

LOSSPERSHARE-BAS|CANDDILUTVE

The annexednotes form an integral partof these financial statements.

(2,592,B04) 9377T5)

LAHORE CHIEF EXECUTIVE OFFICER

CHIEF FINANCIALOFFICER

DIRECTOR

SHAKARGAIN LIMITED

U8C0g50LlDATED STATEMENT OF COMPREHENSIVE IIfCOME FOR THE'fEAR EIJDED SEPTEMBER 30, 2025

2025

Restated 2024

Notes Rupees In 000z

LOSS AFTER INCOI ETAX

OBwr comprehan6lve Income / (loss)

hems that will not be reclassified subsequently to profit or loss: RemeasuremenlS of defined benefit obligations

Related deferred income lax liability

Gain ansing on remeasurement of investments at fair value though Otfter comprehensive income

Deferred income tax relating to investments at fair value through other oomprehensiveincome

Revaluafion surplus on fresh revaluation

Share of other compehepsive income / (loss) of equity accounted

10.1.4 & 21.1.1

22.1.1

22.1.1

(2,592,804)

(2,937,7f5)

2,640,119 220,112

a tial may be rcdassified subsequenMy to statement of profit or bss

Cd•er oxnpehenswe income / (bss) lor the year - net of deferred

Tual cornprahcusna locoms/(loec) for the year

Tie ax›ezzd r< s t›m an nlsgid pan of these 8nancial statements.

CHIEF EXECUTNE OFFICER

2,640,1t9

47,315

CHIEF FIMXCIAL OFFICER

220,1t2 (2.717.663)

SHAKARGANJ LIMITED

UNCONSOLIDATED 5IAT£M£ NT OF CASH FLOWS FOR THE YEAR ENDED SEPTEMBER W 202fi

2023

Restates 2024

CASH GEtJERATED FROM OPERATIONS Rupees In b00a

CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER

M5E1S

80x€uRRCNT ASSETS

19,920,07B

17,070 14.1)B

6,46Z 120.764

17 9?$

19,633.650 20.663.690

6

1t

13

14

6

17

I.624.077 6,449,3t5 6,732.7/5

tt.667,076

19

tg

fienIntwett TOTSL VGJiTY

xoxcuexurf LlAbiu zs

7,2$9.S3f

g,S6.1gJ

O,iA #10

10.446.74

I,900,t69

f7

10rAL LIABILITIES

Ct‹'EF Fi hCAL OFI iCER

tt,J2t.366

SHAKARGAMJ LIIIITED

CONSOLIDATED CONDENSED lNTERIf.J STATEf1ENT OF PROFIT OR LOSS FOR TrtE YEAR ENDED SEPTEfZBER 30, 3D25

Rcsla!ed

2025 2024

(RUPEES IN THOUSAND)

(3.113,237)

41 _ (21.J7)

(2 974 623)

(2352)

The acre cd no!cs fo'm an intc§ra! part o! these COnso! dated condensed interim financial statements

C?IEr EXECUTIVE 0 FICCR DlRECTOFt

CHIEF FINANCIAL Or FICER

SHAKARGANJ LIMITED

CONSOLIOATEO STATELtENT OF COMPREHENSIVE IkCOME FOR THE YEAR ENDED SEPTEUBER 3g, 2025

2025

Rms:eel

202t

{RUPEES IN THOUSAND)

LOSS*FTEPT*xATtON

OTftETt COC’.PftElJENSIVE IftC0!IE

Items th3t will nol be reclassified subsequently to profit Or loss:

Surrlus en rcva’uaon olproperty, plant and equipment - net Reh•cd 0cfc«ed tax IiabiMy on revaluation

El!ccl ol rate change

Remcasurerrcnts Of d0fincd bcncñt obl ations Related 8cfcrrcd incom2 lax liability

Def.cit arising on rcrreasvrcmcnt of invcs*aents at Ia'r valve thr0ugh oder co fehensive

19.1

10. l5 6 23.2. t.5

24.I.1

{3,t13,237}

6,851

2t2,270

2,935,368

203.I19

Deferred iñC0me tax tCla'ing IO investments at lair valve hiough other t0mpre# $ in° ' 24.1.1

I!cms thai*aytc rcc!assiFed subsequently to statemer.t ol pfofit Or bss Other comorcI’.cnsivc income (oc the year- r:et ordtferred income tax

TOTAL CO'ZPREHENSI/E LOSS FOR THE YEAR

SURE €IF TOTAL COMPRETIENSIVE IHCOM I(LOSS) ATTRBUTA8LETO: EOUITY It0LOER3 OF H0LDIL!G COI7PANY

00x CONTROLLING fN7EREST

(6,2t3)

(t71,666)

(177.879}

21Z,270

{2,762,363)

(2,719,809)

(42,544)

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