Transmission of Quarterly Report for the Period Ended 31/03/2025

SIEMENS

Condensed Interim Financial Statements

for the six months period ended March 31, 2025

(Unaudited)

Registered Office:

Siemens (Pakistan) Engineering Co. Ltd. B-72, Estate Avenue

S. I. T. E.

Karachi - 75700

SIEMENS (PAKISTAN) ENGINEERING CO. LTD.

DIRECTORS' REPORT

HALF YEAR ENDED MARCH 31°t, 2025 ON THE

UN-AUDITED CONDENSED INTERIM FINANCIAL STATEMENTS

Chairman of the Board

Executive Director

Non-Executive Directors

Independent & Non-Executive Director

Audit Committee

Human Resource & Remuneration Committee

Nomination Committee

Managing Director Chief Financial Officer Company Secretary Registered Office Trading Symbol Auditors

Registrar and Share Transfer

Karl Stefan Werner

Syed Muhammad Daniyal

Karl Stefan Werner Oliver Spierling

M. Usman Ansari Silvia Oppus

Adnan Afridi

Ayla Majid (Female Director)

Ayla Majid (Chairwoman) Karl Stefan Werner Oliver Spierling

M. Usman Ansari

Adnan Afridi (Chairman) Oliver Spierling

Silvia Oppus

Karl Stefan Werner (Chairman) Syed Muhammad Daniyal

Syed Muhammad Daniyal

Syed Muhammad Ahsan Ghazali Babar Aijaz

B-72 Estate Avenue, S.I.T.E, Karachi-75700 SIEM

A.F. Ferguson & Co., Chartered Accountants THK Associates (Pvt.) Limited

Siemens (Pakistan) Engg. Co. Ltd. Corporate Secretariat

Head: Babar Aijaz

Postal address: Siemens(Pakistan) Engg. Co. Ltd. B-72, Estate Avenue,

S.I.T.E., Karachi Karachi - 75700

Office address: Siemens(Pakistan) Engg. Co. Ltd. B-72, Estate Avenue,

S.I.T.E., Karachl.

Tel: 92(21) 111-077-088

Siemens (Pakistan) Engg. Co. Ltd., MD: Syed Muhammad Daniyal, CFO : Syed Muhammad Ahsan Ghazali; Company Secretary: Babar Aijaz CUIN Reg. No. 0000617; Reg. Address: B-72, Estate Avenue, S.I.T.E., Karachi.

Dear Shareholders,

We, the undersigned, for and on behalf of the Board of Directors are pleased to present the Siemens (Pakistan) Engineering Co. Ltd. ("Company"), unaudited condensed interim financial statements and a review of the Company's performance for the half year ended March 31, 2025.

Company's Performance: Key Performance Indicators ("KPls") for the half year ended March 31, 2025, compared to corresponding period last year are summarized below:

Rupees in million

Ended Ended

Revenue from continuing operations during the six months period ended March 31, 2025, is Rs 3,294 million while comparable revenue during the corresponding period last year was Rs 5,017 million which was mainly owing to higher order back log accumulated in view of the then prevailing import restrictions.

During the six months period ended March 31, 2025, the profit before tax from discontinued operations is Rs 1,090 million which includes gain of Rs 705 million recognised in respect of change of fair value of embedded foreign currency derivatives on economic transfer of foreign currency host contracts pursuant to sale of Energy Business.

Future Outlook:

Post carve-out of the energy business, the Company has streamlined its portfolio to Smart Infrastructure (SI) and Digital Industries (DI), to address Pakistan's infrastructure modernization and industrial digitalization opportuniti4s. The Company intends to leverage its technological leadership and market presence to expand business volumes while prudently managing operational challenges.

The Board of Directors and Management remain optimistic that this focused approach will create sustainable value for our shareholders and reinforce our position as a trusted technology partner.

Acknowledgem : The Board of Directors expresses its sincere gratitude to our employees and Management for their exemplary e ication. We also thank our stakeholders, customers, suppliers, business partners, financial institutions, and re u ators for their continued trust and confidence in the Company.

Adnan Afridi Director

The enclosed conde d interim financial statements are unaudited. On behalf of th r of irectors

Syed M hamma Da i Mana ing Dire or

Karachi: M 22, 2025

AF-FERGUSOKRC .

We have reviewed the accompanying condensed interim statement of financial position of Siemens (Pakistan) Engineering Co. Ltd. as at March 3+. z5 and the related condensed interim statement of profit or loss, condensed interim statement of comprehensive income, condensed interim statement of changes in equity, and condensed interim statement of cash flows and notes to the financial statements for the six months period then ended (here-in-after referred to as the "condensed interim financial statements"). Management is responsible for the preparation and presentation of these condensed interim financial statements in accordance with accoimting and reporting standards as applicable in Pakistan for interim financial reporting. Our responsibility is to express a conclusion on these condensed interim financial statements based on our review.

The figures of the condensed interim statement of profit or loss, the condensed interim statement of comprehensive income and notes thereto for the three months period ended March 3 • •s. have not been reviewed, as we are required to review only the cumulative figures for the six months period ended March 3 , zoz5.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements zoo, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of condensed interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim financial statements are not prepared, in all material respects, in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting.

The engagement partner on the audit resulting in this independent auditor's report is Osama Moon.

A.F. Fergu o. Chartered Accountants Karachi

Date: May 9. ° s

A. F. FERGUSON R: CO., Chartered Accountants, a member rm of the PuiC network

S!tate Life Building No. I-C, I.I. Chundrigar food, P.O. Box 9yi6, Karachi-z4ooo, Pakistan

• KARACHI • LAHORE a ISLAMABAD

Condensed Interim Statement of Financial Position

As at March 31, 2025

Eguity and liabilities

Share capital and reserves Share capital

• Authorised

  
  
  

  20,000,000 (September 30, 2024: 20,000,000) Ordinary shares of Rs 10 each

  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

• Issued. subscribed and paid-up

March 31, September 30,

2025 2024

(Unaudited) (Audited) JVote ----•- (Rupees in '000) •--

200,000 00 000

1

Adn

di

Or

Page - 1

S d Muh d Daniyal Director

Sy Muha ad Ahsan Ghazali Chief Financial Officer

For the six months period ended March 31, 2025

Six months period ended Three months period ended

Continuing operations

Net sales and services Cost of sales and services Gross profit

Marketing and selling expenses

Reversal of / (allowance for) expected credit losses General administrative expenses

I/ote -------------------------- (Rupees in '000) -------•-----•------------

23 3,293,589 5,016,550 1,700,411 2,371,823

(2,608,254) (4,160,663) (1,635,189) (1,882,102)

685,535 855,887 65,222 489,721

(580,562) (483,090) (375,112) (280,875)

Basic and diluted earnings / (loss) per share (Rupees)

Basic and diluted (loss) / earnings per share from continuing operations ( u es)

70.73 90 08

(17.07) 23.43

(51.33) (58.

(55. 16.71)

The annexed notes from 1 to 34 or an integral part of these condensed interim financial statements.

Adna ri

Dir r

Page 2

S ed Muha ad niyal Man in rector

Syed ha m d san Ghazali hief Fin al Officer

r«r the six months period ended March 31, 2025

Net profit / (loss) for the period Other comprehensive income

Total comprehensive profit / (loss) for the period

Six months period ended Three months period ended March 31, March 31, I larch 31, March 31,

2025 2024 2025 2024

•---------------------- ----- (Rupees in '000) ------------------------583,323 (1,567.6:33) (423,310) (480,683)

583,323 (1.567,633) (423,310) (480,683)

Sy Muham d D my

The annexed notes from 1 to 34 form an integral part of these condensed interim financial statements.

Adnan idi Direct r

Syed uhamma Ahsan Ghazali Chief Fi cial Officer

Condensed Interim Statement of Cash Flows (Unaudited)

Six months period ended March 31, March 31,

2025 2024

The annexed notes fr 1 to 34 form an integral part of these condensed interim financial statements.

Sye Muham

Managi

iyal

Syed Mu5arrima

san Ghazali

éctor

hief Financial Officer

Adna

ir

//ofe --- (Rupees in '000) ----------

Siemens (Pakistan) Engineering Co. Ltd. Condensed Interim Statement of Changes in Equity For the six months period ended March 31, 2025

Balance as at September 30, 2023 - Audited Total comprehensive loss for the period

Net loss for six months period ended March 31, 2024 Other comprehensive income for the period

Issued, Capital reserves Revenue reserves subscribed Share Treasury Other General Remeasurement Accumulated Total and paid-up premium shares capital reserves loss on defined profits

share capital reserve reserve benefit plan -net of tax

------------- -----------------•----••-------- --------- ---------- (Rupees in '000) -------------------------•-----------------------------------------82,470 619,325 567 4,300 4,523,026 (189,710) 2,749,469 7,789,447

(1,567,633)

(1,567,633)

(1,567,633) (1,567,633)

Balance as at March 31, 2024 - Unaudited

Balance as at September 30, 2024 - Audited Total comprehensive income for the period

Net profit for six months period ended March 31, 2025

82,470 619,325

82,470 619,325

567 4,300 4,S23,026

567 4,300 4,523,026

(189,710) 1,181,836 6,221,814

(534,257) 701,382 5,396,813

- 583,323 583,323

Other comprehensive income for the period

583,323 583,323

Balance as at March 31, 2025 - Unaudited 82,470 619,325 567 4,3OD 4,523,026 (534,257) 1,2B4,705 5,980,136

The annexed notes from 1 to 34 fo m a integral part of these condensed interim financial statements.

ed Muham ad D iya Mana " g Dir

Sye Muhamm d hsan Ghazali Chief Financial Officer

Adna fri

Di or

1. LEGAL STATUS AND OPERATIONS

   
   
   
   
   
   

   1. Siemens (Pakistan) Engineering Co. Ltd. (the Company) was incorporated in Pakistan in the year 1953 under the Companies Act, 1913 (now the Companies Act, 2017). The Company is a public limited company and its shares are quoted on Pakistan Slock Exchange Limited. The Company is principally engaged in the execution of projects under contracts and in manufacturing, sale and installation of electronic and electrical capital goods. The Company's registered office is situated at B-72, Estate Avenue, S.I.T.E" Karachi.

   2. Discontinued operations
      
      
      
      
      
      
      
      
      
      In line with the Spin-off of the Energy Business by Siemens AG (parent company) in 2020, pursuant to an in-principle approval of the Board of Directors (the Doard) in its meeting held on March 10, 2023, the Board has in its meeting held on October 11, 2024 and shareholders of the Company in the Extra Ordinary General Meeting held on November 22, 2024, approved, the sale and transfer of the Company's Energy Business Segment (hereinafter referred as the 'Energy Business') on a going concern basis, along with its assets and relevant consenting employees, to a non-affiliated Siemens Energy Group Entity i.e., Siemens Energy Pakistan (Private) Limited [formerly, Siemens Gamesa Renewable Energy (Private) Limited] (the buyer) for an aggregate consideration of Rs 17,819 million as at fhe valuation date, i.e., March 31, 2024 . The net book value of Energy Business as at the valuation date was Rs 17,612 million.
      
      
      
      
      
      
      
      
      
      
      

      The requisite regulatory approvals were obtained and the sale of the Energy Business stood complete on December 31, 2024 (Effective Date). In accordance with the terms and conditions of the Local Asset Transfer Agreement dated November 25, 2024 between the Company and the buyer, the aggregate consideration as mentioned above was adjusted by which the net book value as per the Effective Date fell short of Rs 17,612 million (i.e., the net book value as at the valuation date), and the same is disclosed in note 27 to these condensed interim financial statements. On January 2, 2025, the Company received advance payment of an (negatively) adjusted preliminary purchase price of Rs 8,260 million based on the estimated net book value as at December 31, 2024. Consequently, the Energy Business was economically transferred to the buyer. However, in case of certain contracts and arrangements where legal transfer is pending, the Company will continue to manage such contracts and arrangements and the related receivable and payable balances on behalf of the buyer,

      
      
      

      The afore-mentioned business is presented as discontinued operations (being major line of business) for the period in note 5 to these condensed interim financial statements. The curtailment gain on the settlement of relevant employees' defined benefit plan obligations has been recognised during the quarter ended March 31, 2025. Further, the comparative figures of the condensed interim statement of profit or loss and respective notes have been re-presented accordingly. The related gain on sale of Energy Business is presented in note 27 to these condensed interim financial statements.

      I

2. BASIS OP PREPARATION

   
   
   

   These condensed interim financial statements of the Company for the six months period ended March 31, 2025 have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting which comprise of the International Accounting Standard 34 - 'interim Financial Reporting' issued by the International Accounting Standard Board (IASB) as notified under the Companies Act, 2017 (the Act) and provisions of and directives issued under the Act. In case where requirements differ, the provisions of or directives issued under the Act have been followed.

   
   
   

   These condensed interim financial statements do not include all the information and disclosures required in the annual audited financial statements, and should be read in conjunction with the Company's annual audited financial statements for the year ended September 30, 2024.

   
   
   
   
   
   
   
   
   
   
   
   
   These condensed interim financial statements are unaudited but subject to limited scope review by the auditors and are being submitted to the shareholders as required under section 237 of the Act and Pakistan Stock Exchange Regulations. The figures far the three months period ended March 31, 2025 and March 31, 2024 appearing in the condensed interim statement of profit or loss, condensed interim statement of comprehensive income and notes forming part thereof have not been subject to limited scope review by the auditors, as the scope of the review covered only the cumulative figures for the six months period ended March 31, 2025 and March 31, 2024.
   
   
   
   
   
   
   
   
   
   
   

   2.2 Functional and presentation currency

   
   
   

   These condensed interim financial statements are presented in Pakistani Rupees (Rs) which is the functional and presentation currency of the Company and figures are rounded off to the nearest thousand of rupees unless otherwise specified.

3. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND FINANCIAL RISK MANAGEMENT

   
   
   

   The judgments, estimates and assumptions made by the management in the preparation of these condensed interim financial statements are the same as those applied in the preparation of the Company's annual audited financial statements for the year ended September 30, 2024.

   
   
   

   The Company's financial risk management objectives and policies are consistent with those disclosed in the

   annual audited financial statements for the year ended September 30, 2024.

   
   
   

4. MATERIAL ACCOUNTING POLICY INFORMATION

   
   
   

   1. The accounting policies and the methods of computations adopted in the preparation of these condensed interim financial statements are consistent with those followed in the preparation of the Company's annual audited financial statements for the year ended September 30, 2024, except for taxes on income in the interim periods are accrued using the tax rate that would be applicable to the expected total annual profit or loss.

      
      
      

   2. Amendments to certain existing standards and interpretations on accounting and reporting standards effective during the period were either not relevant or did not have any material impact on these condensed interim financial statements except as follows:

      
      
      
      
      
      
      
      
      

      The Institute of Chartered Accountants of Pakistan (ICAP) has withdrawn Technical Release 27 'IAS 12, Income Taxes (Revised 2012)' and issued the 'IAS 12 Application Guidance on Accounting for Minimum Taxes and Final Taxes' (the Guidance). The said guidance requires the Company to recognise minimum tax or final tax on gross amount of revenue or other basis as levy within the scope of IFRIC 21 / IAS 37 as an operating expense. Accordingly, the impact has been incorporated in these condensed interim financial statements retrospectively in accordance with the requirement of International Accounting Standard (IAS 8) - 'Accounting Policies, Change in Accounting Estimates and Errors', which is as follows:

      Effect on condensed interim statement Had there been Impact of change in After incorporating of profit or loss no change in accounting policy effects of change in

      
      
      (continuing and discontinued operations) accounting policy accounting policy
      
      
      
      
      
      
      
      
      

      For the six months period ended March 31, 2025

      Levy		146,326	146,326
      Profit before income tax	1,469,825	(146,326)	1,323,499
      Income Tax	(886,502)	146,326	(740,176)
      For the six months period ended March 31, 2024
      Levy		286,014	286,014
      Loss before income tax	(1,Z40,770)	(286,014)	(1,526,784)
      Income Tax	(326,863)	286,014	(40,849)

      
      
      
      
      
      
      
      
      
      
      
      

      The related changes to the condensed interim statement of cash flows with respect to the amount of profit / (loss) before taxation have been made, however there has been no effect on the condensed interim Statement of Financial Position, net profit / (loss) for the period or earnings / (loss) per share and condensed interim Statement of Changes in Equity.

      Page - 7

      i

      
      
      
      
      
      

      Siemens (Pakistan) Engineering Co. Ltd.

      Notes to the Condensed Interim Financial Statements (Unaudited)

      
      
      

      For the six months period ended March 31, 2025

5. DISCONTINUED OPERATIONS

   
   
   

   1. As stated in note 1.2 to these condensed interim financial statements, the results of the discontinued operations for the period are presented below:

      
      
      
      
      
      

      For the six months period ended For the three months period ended

      March 31, 2025 tunaudited) Discontinued operations //ote -- ---•------			March 31, March 31. 2024 2025 (Unaudited) (Unaudited) -•---•---- (Rupees in '000) --		March 31, 2024 (Unaudited)
      Net sales and services		3,572,663	14,107,124		7,204,409
      Cost of sales and services		(2,774,955)	(12,0B3,291)	25,270	(6,350,648)
      Unrealised gain / (loss) on derivatives - net	20.3	705,082	(1,429,262)		(71,832)
      Gross profit		1,502,690	594,571	25,270	781,929

      • ----------

      
      
      
      
      
      

      (145,858)	(313,430)	9,346	(149,386)
      79,291	(692,151]		(146,181)
      (76,712)	(70,159)		(30,083)

      Marketing and selling expenses

      
      
      

      	(143,279)	(1,O75,740)	9,346	(325,650)
      	1,359,411	(481,169)	34,616	456,279
      		232		246
      	(52,082)	(93,168)	6,668	(45,965)
      	(52,082)	(92,936)	6,668	(45,719)
      	1,307,329	(574,105)	41,2B4	410,560
      	(129,B77)	(1,027,532)
      	1,177,452	(1,601,437)		(137,504)
      		(132,240)		(53,359)
      	1,0B9,969	(1,733,T77)	41,204	(190.863)
      	(43t,033)	(27,080)		(151,975)
      	658,936	(1,760,857)		(342,838)
      27	65,151
      	724 087	(1,760,857)	35.753	(342,838)
      	87.80	(213.51)	4.33

      Reversal of/ (allowance for) expected credit losses General administrative expenses

      
      
      

      Other income

      
      
      
      
      
      

      Other operating expenses Net other operating expenses Operating profit/ (loss)

      
      
      

      Financial expenses

      
      
      
      
      
      

      Profit / (loss) before levy, income tax and gain on sale of business

      
      
      

      Levy

      
      
      

      Profit/ (loss) before income tax and gain on sale of business

      
      
      
      
      
      

      Income tax

      
      
      

      Profit / (loss) before gafn on safe of business

      Gain on sale of business - net of income tax Net profit / (loss) for the period
      
      
      
      
      
      
      
      
      Basic and diluted earnings / (loss) per share from discontinued operations{Rupees)
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      
      

   2. The net cash flows from the discontinued operations are as follows:

For the six months period ended

1 6.

LEASE LIABILITIES

Note

As at March As at September 31, 2025 30, 2024

(Unaudited) (Audited)

(Rupees in '000)

1. CONTRACT LIABILITIES

   
   
   

   Advances from customers

   Note

   As at March As at September 31, 2025 30, 2024

   (Unaudited) (Audited) (Rupees in '000)

   
   
   

   - for goods		897,659	1,035,674
   - for projects and services	9.1	360,843	2,473,499
   		1,258,502	3,509,173
   efund liabilities 397,074 596,451
   		1,655,576	4,105,624

   R

   
   
   

   1. These include advance received from a related party, Rousch (Pakistan) Power Limited, having aggregate amount due of nil (September 30, 2024: Rs 194.321 million) as per the contractual payment terms.

1 0.

SHORT-TERM BORROWINGS

Secured

Short-term loans

As at March As at September 31, 2025 30, 2024

(Unaudited) (Audited) (Rupees in '000)

- 4,000,497

01

1

10.2

Facilities for secured bank overdraft arranged with commercial banks in Pakistan aggregated to Rs 14,600 million (September 30, 2024: Rs 12,800 million) at interest rate ranging from 12.59% to 20.00% per annum (September 30, 2024: 19.80% to 23.16% per annum). These include facility under Islamic mode obtained during the period from a commercial bank in Pakistan aggregated to Rs 1,000 million These are secured against joint hypothecation charges over inventories and trade receivables of the Company and a stand-by letter of credit arranged by Siemens AG (parent company) through the bank. As of reporting date, these remained fully unutilised by the Company.

There is no material change in the terms and conditions of the short-term running finance facilities as stated in the notes 12.3 and 12.4 to the annual audited financial statements of the Company for the year ended September 30, 2024.

For the six months period ended March 31, 2025

Warranties Losses on

Total

1. CONTINGENCIES AND COMMITMENTS

   t2.1 Contingencies

   
   
   

   There are no material contingencies requiring disclosure in these condensed interim financial statements as of reporting date.

   
   
   

   12.2 Commitments

   1. As at March 31, 2025, capital expenditure contracted for but not incurred amounted to Rs 3.318 million (September 30, 2024: Rs 57.981 million).

      
      
      
      
      
      

   2. Guarantees

      
      
      

      • limit

      • utilised portion

      • unutilised portion

        
        
        

   3. Letters of credit

      As at March As at September 31, 2025 30, 2024

      {Unaudited) (Audited) (Rupees in '000)

      20,297,683 21,044,930

      4,872,167 19,355,211

      15,425,516 1,689,719

      - limit

      
      
      

      utilised portion unutilised portion

      8,800,000

      5,479,842

      3,320,158

      10,447;674

      5,955,631

      4,492,043

      
      
      

   4. The aggregate amount of commitments against various short-term lease arrangements for renta! premises:

      
      
      

      As at March As at September 31, 2025 30, 2024

      (Unaudited) (Audited) (Rupees in '000)

      
      
      

      • Not later than one year

   5. Other commitments

guarantees issued by Siemens AG (parent company) on benalf of the Company

. . 480 . 13,494

1,245,326

For the six months period ended March 31, 2025

As at March As at September 31, 2025 30, 2024

(Unaudited) (Audited)

I

Depreciation charge for the six months (March 31, 2024: Rs 61.273 million).

1. RIGHT-OF-USE ASSETS

   ended March 31, 2025 amounted to Rs 56,835 million

   
   
   

   The right-of-use assets comprise of properties leased by the Company for its operations. Following is the change in right-of-use asset during the period / year:

   As at March As at September 31, 2025 30, 2024

   
   
   

   (Unaudited) (Audited)

   
   
   
   
   
   
   
   
   

   - (Rupees in '000)

   Opening net book value Right-of-use assets recognised during the period / year	14,2ss 495,579	36,742
   Depreciation for the period / year Right-of-use assets disposed off during the period / year	(23,892)	(15,612) {6,865)
   Closing net book value	485,952	14,265

   
   
   
   
   
   
   
   
   

   For the six months period ended March 31, 2025

2. LONG-TERM LOANS AND TRADE RECEIVABLES hole

   
   
   

   Loans

   Due from employees

   
   
   

   Less: Due within one year Long-term portion Discounting to present value

   
   
   

   Trade receivables Considered good Considered doubtful

   
   
   

   Less: Loss allowance

3. DEFERRED TAX ASSET - NET

   
   
   

   Debit / (credit) balance arising in respect of: Unused tax credits / losses

   As at March As at September 31, 2025 30, 2024

   unaudited) (Audited) (Rupees in '000)

   - 2,527

   - (1,506)

   - 1,021

   - (176)

   2,252,351

   1,140,898

-

- 845

- 3,393,249

- (1,140,898)

- 2,252,351

2,253,196

520,876

Provisions Loss allowance

Defined benefit plan

Decelerated tax depreciation and amortisation Lease liabilities

Derivative financial instruments Right-of-use assets

1. INVENTORIES

   199,136

   136,367

   23,077

   10,805

   71,902

   962,163

   (82,786)

   879 377

   495,237

   748,132

   46,176

   28,327

   4,625

   141,977

   1,464,474

   (3,286)

   1,461,188

   
   
   
   
   
   
   
   
   

   Raw materials and components	529,615	664,548
   Work-in-process	895,258	1,129,978
   Finished goods	238,079	367,528
   	1,662,952	2,162,054
   Less: Provision for slow moving and obsolete items	(445,866)	(515,622)
   	1,217,086	1,646,432
   Goods-in-transit	200,909	211,392
   TRADE RECEIVABLES	1,417,995	1,857,824
   Considered good Due from related parties 18.1		6,675
   Due from others	2,416,139	15,183,088
   	2,416,139	15,189,763
   Considered doubtful	499,587	1,435,474
   	2,915,726	16,625,23T

2. 
   
   
   
   
   
   
   
   

   Less: Loss allowance

   (499,58 )

   2,416,139

   (1,435,474)

   15,189,763

   
   
   
   
   
   

   1. Represen(s amounts due from Rousch (Pakistan) Power Limited having aggregate amount of nil (September 30, 2024: Rs 6.675 million).

      
      
      

      Siemens (Pakistan) Engineering Co. Ltd.

      Notes to the Condensed Interim Financial Statements (Unaudited)

      
      
      

      For the six months period ended March 31, 2025

      
      
      
      
      
      

3. CONTRACT ASSETS

As at March As at September 31, 2025 30, ZO24

(Unaudited) (Audited)

- (Rupees in '000) ------

This represents denvative contracts embedded in foreign currency host construction contracts entered into by the Company with its customers and suppliers which are used as economic hedges and are not designated as hedging instruments in hedge relationships. The economic characteristics and risks of such embedded contracts are not closely related to those of the host contracts and therefore are accounted for as separate derivatives and are carried at fair value though profit or loss. Fair values of embedded foreign currency derivatives are based on forward exchange rates for the due dates of the respective embedded derivatives.

Considered good

/Vofe

As at March As at September 31, 2025 30, 2024

(Unaudited) (Audited)

(Rupees in '000)

Considered doubtful

Costs reimbursable from customers

Less: Lossallowance

96,796 137,162

21.1 Represent amounts due from Siemens Industry Software (Private) Limited and Siemens Healthcare (Private) Limited having aggregate amounts due of Rs 12.231 million (September 30, 2024: Rs 5.457 million) and Rs 1.439 million (September 30, 2024: nil) respectively.

1. CASH AND BANK BALANCES

   
   
   

   With banks in

   As at March As at September 31, 2025 30, 2024

   (Unaudited) (Audited) (Rupees in '000)

   
   
   

   Current accounts	448,475	540,933
   Deposit accounts	8,114,231	3,766,123
   	8,562,706	4,307,056
   ash in hand 142 8,562,706 4,307,198_

   C

   
   
   
   
   
   
   
   
   

2. NET SALES AND SERVICES

c

9

Sales disaggregation by type of contracts

Sale of goods Rendering of services

For the six months period ended March 31, March 31,

2025 2024

(Unaudited) (Unaudited) (Rupees in '000)

For the six months period ended March 31, March 31,

i

2025 2024

(Unaudited) (Unaudited)