Transmission of Quarterly Report for the Period Ended September 30, 2025

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Company Information Directors' Review

Condensed Interim Statement of Financial Position (Un-audited)

Condensed Interim Statement of Profit or Loss and other Comprehensive Income (Un-audited)

Condensed Interim Statement of Cash Flows (Un-audited) Condensed Interim Statement of Changes In Equity (Un-audited) Notes to the Condensed Interim Financial Statements (Un-audited)

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Contents

01

A Siddiqsons Group Company

1ST QUARTERLY REPORT SEPTEMBER 2025

Mr. Tariq Rafi Chairman Mr. Naeem-ul-Hasnain Mirza CEO

Mr. Munir Qureshi Executive Director

Mr. Ibrahim Shamsi Non Executive Director

Ms. Alia Sajjad Non Executive Director Mr. Muhammad Yousuf Adil Independent Director Mr. Abdul Wahab Independent Director

Mr. Muhammad Yousuf Adil (Chairman)

(Independent Director) Mr. Ibrahim Shamsi (Member) (Non-Executive)

Ms. Alia Sajjad (Member) (Non-Executive)

Mr. Abdul Wahab (Member) (Independent Director) Ms. Ayesha Khan (Secretary)

Mr. Naeem-ul-Hasnain Mirza (Member) (CEO) Ms. Ayesha Khan (Secretary)

Mr. Tariq Rafi Chairman

Mr. Munir Qureshi Member Mr. Naeem-ul-Hasnain Mirza Member

Mr. Naeem-ul-Hasnain Mirza CEO

Mr. Mahir Abbas Dir. Commercial

Ms. Rashid Khaleeque CFO

Mr. Shahzad Shabbir GM Commercial

Ms. Rashid Khaleeque

Ms. Ayesha Khan

Mr. Faran ur Rehman Hashmi

Muniff Ziauddin Chartered Accountants

Mr. Kashif Nazeer

A/2, G-23, Park Lane, Block-5, Clifton, Karachi House of Magna Cum Lande

Tola Associates

Tax & Corporate Advisors

408, Continental Trade Centre, Block 8, Clifton, Karachi 75600, Pakistan

Phone # 02I-35303294-6

National Bank of Pakistan Habib Bank Limited MCB Bank Limited Soneri Bank Limited

Habib Metropolitan Bank Limited Faysal Bank Limited

Meezan Bank Limited JS Bank Ltd

Al Baraka Bank (Pakistan) Ltd MCB Islamic Bank Limited Allied Bank Limited

The Industrial & Commercial Bank of China (ICBC)

United Bank Limited Bank Alfalah Limited Askari Bank Limited Samba Bank Limited

Dubai Islamic Bank Pakistan Limited

THK Associates (Pvt.) Limited,

Plot No. 32-C, Jami Commercial Street-2, D.H.A., Phase-VII,

Karachi.

UAN #III 000322

Ocean Tower, 27th Floor, G-3, Block 9, Scheme # 5, Main Clifton Road, Karachi. Tel : +922I-35I6657I-4

Plant: Plot # 5, Special Industrial Zone, Winder, Distt. Lasbela, LIEDA, Baluchistan.

https://www.siddiqsonstinplate.com

Head Office: House I2, Main Ataturk Avenue, F-6/3, Islamabad.

02

A Siddiqsons Group Company

The Directors of the Company are pleased to present to the shareholders the unaudited condensed interim financial statements for the three-month period ended September 30, 2025, along with an overview of the Company's interim operational and financial results.

During the three-month period under review, the Company recorded sales revenue of PKR 639.4 million, reflecting an increase of I86% compared to the corresponding period last year. However, the cost of sales increased by I23%, primarily due to capacity utilization. Driven by"a campaign that has been initiated to minimize the use of harmful alternative food packaging materials."-and increased operational capacity stemming from the availability of locally sourced raw material.

Profitability was also influenced by a notable reduction in financial charges. The finance cost decreased by 24% compared to the corresponding period, providing some relief to the bottom line despite operational challenges.

The Profit after taxation was Rs.8.896 million as compared to a Loss of Rs. (I3I.94) million during the same period last year.

The earnings per share were Re. 0.04, as compared to loss per share of Re. (0.58) in the corresponding period.

A notable shift in global trade dynamics-particularly the imposition of heavy antidumping duties on Chinese tinplate by several countries-has created new opportunities for compliant and quality-driven producers such as STPL to strengthen and expand their international footprint. In this regard, the Company has successfully secured new export orders and dispatched shipments to key international markets, marking a positive development for future growth.

Another encouraging factor is the gradual decline in domestic interest rates, which have now reduced to II%, compared to the 22% finance cost incurred during the same period last year. This significant reduction is expected to provide meaningful relief to the Company's financial expenses particularly in view of its current high gearing (debt-to-equity) structure. and improve overall profitability in the coming periods.

03

A Siddiqsons Group Company

1ST QUARTERLY REPORT SEPTEMBER 2025

Looking ahead, the operating environment appears to be stabilizing. Raw material inventory levels are now aligned to support growth and enable the company to increase its current share in the domestic market. In addition, improvements in raw material quality have allowed the company to meet international standards and strengthening its competitive position.

Domestic demand for tinplate has also shown signs of recovery, supported by decisive measures such as initiating legal action against the use of galvalume sheets in food packaging and filing an application for anti-dumping duties on secondary tinplate.

The Directors of the Company would like to express their sincere gratitude to the shareholders, partners, customers, Government authorities, and financial institutions for their cooperation and continued support. The Directors also wish to place on record their appreciation for the valuable and untiring efforts and services rendered by the staff of the Company.

Chief Executive

Chairman

Karachi: 6 November, 2025

04

A Siddiqsons Group Company

AS AT SEPTEMBER 30, 2025

Note

Property, plant and equipment Long term deposits

Long term advance

June 30,

2025

(Audited)

6

3,332,439,I40

9,589,652

Long-term finances Lease Liabilities

Trade and other payables Contract liabilities

Due to director Due to associate

Interest / mark-up accrued on borrowings Short-term borrowings

Current portion of long term finances Current portion of lease liabilities Unclaimed dividend

I4

I5

I6 I7

45,6I8,659

4,6I8,890

50,237,549

I,08I,932,I22

2,455,547

-I,379,883,794

28,39I,229

968,95I,633

26,II7,4I4

4,I08,II9 I,794,924 3,493,634,782

4,45I,333,4I2

I8

The annexed notes I to 26 form an integral part of these condensed interim financial statements.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

05

A Siddiqsons Group Company

1ST QUARTERLY REPORT SEPTEMBER 2025

FOR THE THREE MONTHS' PERIOD ENDED SEPTEMBER 30, 2025

Note

September 30,

2024

----------------Rupees----------------

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

06

A Siddiqsons Group Company

FOR THE THREE MONTHS' PERIOD ENDED SEPTEMBER 30, 2025

Three months ended

----------------Rupees----------------

Profit/Loss before levies and taxation

(I29,07I,902)

Other Income

Operating cash flows before movement in working capital

8,4I2,983

84,9I9,079 (I3,226,855)

(48,966,694)

Stores, spares and loose tools Stock-in-trade

Trade debts

Loans and advances

Trade deposits and prepayments Other recievable

Sales tax adjustable

Trade and other payables Contract liabilities

Cash generated from operations

I69,248,793 I20,282,099

Income tax and levies paid Interest / markup paid

Tax refund received during the year

(9,007,5II)

(80,252,550)

-

Net cash generated from/used in operating activities

3I,022,038

07

A Siddiqsons Group Company

1ST QUARTERLY REPORT SEPTEMBER 2025

Three months ended

September 30,

2024

----------------Rupees----------------

The annexed notes I to 25 form an integral part of these condensed interim financial statements.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

08

A Siddiqsons Group Company

FOR THE THREE MONTHS' PERIOD ENDED SEPTEMBER 30, 2025

The annexed notes I to 25 form an integral part of these condensed interim Financial Statements.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

09

A Siddiqsons Group Company

1ST QUARTERLY REPORT SEPTEMBER 2025

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2025

Siddiqsons Tin Plate Limited (the Company) was incorporated in Pakistan on January 29, I996 as public Company limited by shares under the repealed Companies Ordinance, I984 now Companies Act, 20I7 (the Act). The registered office of the Company is located at Ocean Tower, 27th Floor, Plot # G- 3, Block # 9, Near II Talwar, Clifton, Karachi, Province of Sindh, Pakistan. The shares of the Company are quoted on Pakistan Stock Exchange. The principal activity of the Company is manufacturing and sale of tin plates, cans and other steel products.

1. GEOGRAPHICAL LOCATION AND ADDRESSES OF BUSINESS UNITS

   Following are the geographical locations and addresses of all business units of the Company:

   Registered Office:

   Ocean Tower, 27th Floor, Plot # G-3, Block # 9, Near II Talwar, Clifton, Karachi, Province of Sindh, Pakistan.

   Manufacturing Facility:

   1. Tin Plate plant is located at Plot No. 5, Special Industrial Zone, Winder, Distt, Lasbella, L.I.E.D.A, Province of Balochistan, Pakistan.

   2. Canning plant is located at Plot # 22I-222, Near Jamia Millia College, Jamia Millia Road, Malir City, Karachi, Province of Sindh, Pakistan.

   Project Site:

   TMBP project site is located at Plot No. 272 & 273 Hub City, Mouza Beroot Peerkas Road, District Lasbella, Hub Balochistan, Pakistan.

2. STATEMENT OF COMPLIANCE

   1. These condensed 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 (IAS) 34, Interim Financial Reporting, issued by the International Accounting Standards Board (IASB) as notified under the Companies Act, 20I7; and

      • Provisions of and directives issued under the Companies Act, 20I7.

        10

        A Siddiqsons Group Company

        1ST QUARTERLY REPORT SEPTEMBER 2025

Where the provisions of and directives issued under the Companies Act, 20I7 differ with the requirements of IAS 34, the provisions of and directives issued under the Companies Act, 20I7 have been followed.

1. SIGNIFICANT ACCOUNTING POLICIES

   The accounting policies and the methods of computation adopted in the preparation of these condensed interim financial statements and the significant judgements made by the management in applying the accounting policies and the key sources of estimation uncertainty are the same as those applied in the preparation of the financial statements as at and for the year ended June 30, 2025.

2. FINANCIAL RISK MANAGEMENT

The Company's financial risk management objectives and policies are consistent with those disclosed in the annual audited financial statements as at and for the year ended June 30, 2025.

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A Siddiqsons Group Company

June 30,

2025

(Audited)

June 30, 2025

709,I27,325

22,554 (4,520,73I)

29,720,770

678,505,220

12

A Siddiqsons Group Company

June 30,

2025

(Audited)

June 30,

2025

(Audited)

Raw material - Tinplate

20I,624,373

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A Siddiqsons Group Company

1ST QUARTERLY REPORT SEPTEMBER 2025

Local Export

June 30,

2025

(Audited)

8.I

Less: Provision for doubtful debts

I96,355,078 60,007,58I

256,362,660

(62,350,282) I94,0I2,378

Advance tax Provision for taxation

June 30,

2025

(Audited)

335,837,034

(30,253,040)

305,583,994

Loan to employees

2I4,I88

Against letter of credits' fee and expenses Less: Provision for advance against letter of

credits' fee and expenses

I23,I78

3I,679,744

14

A Siddiqsons Group Company

An associated undertaking, Siddiqsons Limited holds I5.49% i.e. 35,5I4,I0I (June 30, 2025: 35,5I4,I0I) ordinary shares at the period end. The Company has one class of ordinary shares which carry no right to fixed income. The shareholders are entitled to receive dividend as declared from time to time and are entitled to one vote per share at meetings of the Company. All shares rank equally with regard to the Company's residual assets.

A Siddiqsons Group Company

15

45,6I8,659

(26,II7,4I4)

-

Current maturity of long-term finance Lease liabilities

long-term finance 65,I82,065 7I,736,073

June 30,

2025

(Audited)

2I4,242,835

Investment in term deposit certificates I2.I

453,480

22,643,I94

Tenders

22,I89,7I4

II.I

Deposit for bank guarantee margin Prepayments

June 30,

2025

(Audited)

453,480

1ST QUARTERLY REPORT SEPTEMBER 2025

June 30,

2025

(Audited)

On June 04, 202I, the SHC vide order C.P.No D-3309 / 20II, summoned to encash all the bank guarantees furnished by the petitioners. However the Supreme Court of Pakistan, vide its order dated September 0I, 202I, suspended the order issued by SHC, stating that it suffers from constitutional and legal defects and granted the interim relief to the Company and other petitioners. The order issued by the Supreme Court of Pakistan states that the petitioners shall keep the bank guarantees already submitted pursuant to the earlier order of SHC and shall furnish the fresh bank guarantees equivalent to the amount of levy calimed by the Sindh Government against release of all future consignments of imported goods.

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A Siddiqsons Group Company

A Siddiqsons Group Company

17

27I,084,8I0 (6,30I,337) 223,43I,553

Local Sales

Less : Commission and discounts

September 30,

2024

(Un-audited)

2I4,242,835

Bank guarantee in favor of Excise and Taxation department relating to anti-dumping

and infrastructure cess

I89,420,000

Letters of credit for import of raw material

607,522,202968,95I,633

I7.3

5,223,762

356,205,669

I7.2

From banking companies

Bank overdraft

Finance against imports - FATR Running finances under

markup arrangements

9,893,927

I8,497,302

28,39I,229

Long-term finances Short-term borrowings

June 30,

2025

(Audited)

1ST QUARTERLY REPORT SEPTEMBER 2025

September 30,

2024

(Un-audited)

18

A Siddiqsons Group Company

September 30,

2024

(Un-audited)

1. TRANSACTIONS WITH RELATED PARTIES

   The related parties comprise associated undertakings, other related group companies, directors of the Company, key management personnel and post employment benefit plans. The significant transactions with related parties are as follows:

   1. Details of Transactions with related Parties are as Follows:

September 30,

2024

(Un-audited)

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

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A Siddiqsons Group Company

1ST QUARTERLY REPORT SEPTEMBER 2025

The carrying value of all the financial instruments reported in the financial statements approximates their fair value as the items are short term in nature.

The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels I to 3 based on the degree to which the fair value is observable.

• Level I fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities.
• Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level I that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).
• Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).

There are no financial assets to be classified under these levels. There were no transfers between Level I and 2 in the period.

As at September 30, 2025, the company has no financial instruments that falls into any of the above category.

1. DATE OF AUTHORIZATION FOR ISSUE

   These condensed interim financial statements have been approved and authorized for issue by the Board of Directors of the Company on .

2. GENERAL

Figures have been rounded off to the nearest Rupee.

CHIEF EXECUTIVE OFFICER

DIRECTOR

CHIEF FINANCIAL OFFICER

20

A Siddiqsons Group Company