Transmission of Quarterly Report for the Period Ended 31.03.2025

‌Contents

‌Company Information

Board of Directors

Mr. Yasir Ahmed Awan Chairman

Mr. Imran Ghafoor Chief Executive Officer Mrs. Sharmeen Imran Non-Executive Director

Mr. Haroon Ahmed Zuberi Independent Director

Board Human Resource & Remuneration Committee

Mrs. Sharmeen Imran Chairperson

Mr. Imran Ghafoor Member

Mr. Saqib Anjum Member

Registered Officer

External Auditors RSM-Avais Hyder

Liaqat Nauman Chartered Accountants

Legal Advisor Sahibzada Waqar Arif

Mr. Junaid Makda Non-Executive Director Mr. Saqib Anjum

Non-Executive Director

Mr. Saim Bin Saeed Independent Director

Chief Financial Officer

Mr. Shahid Irshad

Company Secretary

Mr. Mazhar Ali Khan

Head of Internal Audit

Mr. Hafiz Muhammad Tariq

Audit Committee Mr. Saim Bin Saeed Chairman

Mr. Yasir Ahmed Awan Member

Mr. Haroon Ahmed Zuberi Member

Share Registrar

THK Associates (Private) Limited

Plot No. 32-C, Jami Commercial Street 2, DHA, Phase VII, Karachi - 75500, Pakistan.

UAN: (92 21) 111-000-322

Ph: (92 21) 35310183-84

Fax: (92 21) 35310191

601-602, Business Centre, Mumtaz Hassan Road, Off. I. I. Chundrigar Road, Karachi - 74000 Ph : (92 21) 32401373, 32413944

Company Website

https://www.sitaraperoxide.com.pk

Bankers

Al Baraka Bank (Pakistan) Limited Askari Bank Limited

Bank Alfalah Limited Faysal Bank Limited Habib Bank Limited MCB Bank Limited Meezan Bank Limited National Bank Limited Soneri Bank Limited

Standard Chartered Bank (Pakistan) Limited Bank Makramah Limited (BML)

United Bank Limited JS Bank Limited

First Women Bank Limited Bank Al Habib Limited

Habib Metropolitan Bank Limited

Head Office & Project Location 26 - KM Sheikhupura Road, Faisalabad.

Sitara Proxide Limited

1

Ph : (92 41) 2600108, 2600747

‌The Board of Directors of Sitara Peroxide Limited (the Company) is pleased to present their report together with unaudited condensed interim financial information of the Company for 3rd Quarter ended on March 31, 2025.

Business and Financial Review

The financial results for the nine (9) months of the current financial year in comparison with nine (9) months of the corresponding year are as under.

During nine (9) months under review, the operations of the company remained closed for the envisaged balancing, modernization and replacement (BMR) of plant & machinery and pending overall restructuring of the Company. Accordingly, there is no sales during nine (9) months under review. However, stock-in-hand was already sold during nine (9) months of corresponding period of financial year 2024.

The Company suffered Loss aDer tax Rs 144.961 million during nine (9) months period ended on March 31, 2025 in comparison with Loss aDer tax Rs 136.559 million during corresponding period of nine (9) months ended on March 31, 2024. The administrative expenses are Rs 203.483 million during nine (9) months under review which includes depreciation Rs 137.585 million, salary, wages & benefits Rs 38.190, repair and maintenance of plant & machinery Rs 4.374 million. Finance cost reduced to Rs 4.132 million during nine (9) months of the current financial year in comparison with Rs 18.639 million during corresponding period of nine (9) months due to repayment of Sukuk Facility and its rescheduling at cost of fund, instead of KIBOR based mark-up, signed on December 29,2023 and valid till November 30, 2025.

Loss per share increased to Rs. 2.63 during nine (9) months of the current financial years as compared with Loss per share of Rs. 2.48 during corresponding period of nine (9) months of the last financial year. The management of the Company took all possible austerity measures to further minimize expenses without compromising over legitimate expenses, departmental payments, litigation costs and contingencies.

Future Outlook

The economic conditions of the country and specially that of industries remained challenging during the nine

(9) months under review. The management is vigilant in protecting the interests of all stakeholders, mainly, shareholders, dedicated customers, suppliers etc. and is successfully moving towards to repay all debts and eliminate finance cost thereon. Financial institutions are so far extending due cooperation during the di cult period.

The envisaged BMR will enhance production capacity, e ciency andbetter yield. The management of the Company is in active negotiations with technology supplier and already made an advance payment.

The board would like to express its gratitude to all stakeholders, especially shareholders, for their support and cooperation during last AGM.

By the order of Board of Directors

Faisalabad

HAROON AHMED ZUBERI

Chief Executive Officer

DIRECTOR'S REPORT

2025>.Jfi 24

DIRECTOR'S REPORT

‌SITARA PEROXIDE LIMITED

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UN-AUDITED) AS AT MARCH 31, 2025

(Un-audited) (Audited)

March 31, June 30,

2025 2024

Note Rupees Rupees

ASSETS

Non-current assets

Current assets

Non-current asset held for sale - -

Total assets 2,908,411,289 3,064,154,549

EQUITY AND LIABILITIES

Authorized Capital 60,000,000 (2023: 60,000,000)

Non-current liabilities

Long term financing Deferred taxation

Current liabilities

290,326,714 345,794,351

The annexed notes from 1 to 11 form an integral part of these condensed financial statements.

STATEMENT OF FINANCIAL POSITION

STATEMENT OF PROFIT OR LOSS

Note

Nine months ended Quarter ended March 31, March 31,

2025 2024 2025 2024

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

The annexed notes from 1 to 11 form an integral part of these condensed financial statements.

STATEMENT OF COMPREHENSIVE INCOME

Nine months ended Quarter ended March 31, March 31,

2025 2024 2025 2024

--------------------------Rupe es --------------------------

(Loss) for the period (144,961,245) (136,559,129) (52,636,968) (60,187,327)

Other comprehensive income / (Loss) - - - -Total comprehensive (loss) for the period (144,961,245) (136,559,129) (52,636,968) (60,187,327)

The annexed notes from 1 to 11 form an integral part of these condensed financial statements.

‌SITARA PEROXIDE LIMITED

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2025

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

The annexed notes from 1 to 11 form an integral part of these condensed financial statements.

STATEMENT OF CHANGES IN EQUITY

Period Ended March 31,

2025 2024

-------------Rupees '-------------

1. CASH FLOWS FROM OPERATING ACTIVITIES

   (Loss) for the period before taxation	(200,428,882)	(188,954,569)
   Adjustments for :
   Depreciation of property, plant and equipment	137,585,676	114,985,357
   Profit on bank deposit	(10,184)	(33,412)
   Provision for staff retirement benefits	-	9,854,420
   (Gain) on disposal of operating assets	-	(85,675,442)
   (Gain) on disposal of non-current asset held for sale
   (Gain) on disposal of investment property	-	-
   Impairment loss on financial assets	-	78,982,480
   Provision for sale tax refundable	-	0
   Bad debt wrtten off	-	-2,339,993
   Finance cost	4,132,893	18,639,352
   Operating cash flows before working capital changes	(58,720,497)	(54,541,807)
   Changes in working capital

   (Increase) / decrease in current assets

   Stores, spares and loose tools	-		-349,697
   Stock in trade	-		5,937,887
   Trade debts	-		(35,522,181)
   Loans and advances	11,067,817		7,719,386
   Deposits and prepayments	-		-
   Taxes refundable due from government - sales tax	-		-
   Increase / (decrease) current liabilities
   Trade and other payables	45,502,384		23,547,976
   Contract liability	(0)		-9,257,552
   	56,570,200		(7,924,181)
   Cash (used in) operating activities	(2,150,297)		(62,465,988)
   Staff retirement benefits paid	-		(200,000)
   Finance cost paid	(4,617,456)		(397,829)
   Income tax received / (paid)	30,977		54,783,771
   Sales Tax refunded / (paid) Net cash (used in) operating activities	- (6,736,775)		- (8,280,045)

   STATEMENT OF CASH FLOWS

   
   
   

2. ‌CASH FLOWS FROM INVESTING ACTIVITIES

   Period Ended March 31,

   2025 2024

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

   Additions in property, plant and equipment - -Profit on bank deposit 10,184 33,412

   Proceeds from disposal of non current asset held for sale - 142,853,346

   Increase in long term deposit - -

   Net cash generated from / (used in) investing activities 10,184 142,886,758

3. CASH FLOWS FROM FINANCING ACTIVITIES

The annexed notes from 1 to 11 form an integral part of these condensed financial statements.

STATEMENT OF CASH FLOWS

1. STATUS AND ACTIVITIES

   1. Sitara Peroxide Limited (the Company) is incorporated in Pakistan as a public limited Company under the Companies Ordinance, 1984 (Repealed with the enactment of the Companies Act 2017 on May 30, 2017) and is listed on Pakistan stock exchange. The principal activity of the Company is manufacturing and sale of hydrogen peroxide (H2O2) and Sitara Safe (disinfectant). The registered office of the Company is situated at 601-602 Business Centre, Mumtaz Hasan Road, Karachi in the province of Sindh and the manufacturing facilities are located at 26 - km Sheikhupura Road, Faisalabad in the province of Punjab.

2. STATEMENT OF COMPLIANCE

   2.1

   2.2

   2.3

   2.4

   2.5

   These condensed interim financial statements of the Company for the nine months period ended March 31, 2024 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, 2017 and provisions of and directives issued under the Companies Act, 2017. In case where the provisions of and directives issued under the Companies Act, 2017 differ with the requirements of IAS 34, the provisions of and directives issued under the Companies Act, 2017 have been followed.

   These condensed interim financial statements are un-audited but subject to limited scope review by the auditors of the Company and is being submitted to the shareholders as required under section 237 of the Companies Act, 2017.

   These condensed interim financial statements are un-audited.

   These condensed interim financial statements do not include all the information required for complete set of financial statements, and should be read in conjunction with the Company's published audited financial statements for the year ended june 30, 2024. Comparative balance sheet is extracted from annual audited financial statements for the year ended June 30, 2024 whereas comparative profit and loss account, comparative statement of comprehensive income, comparative statement of changes in equity and comparative cash flow statement are stated from un-audited condensed interim financial statements for the nine months ended on March 31, 2024.

   These condensed interim financial statements have been presented in Pak Rupee, which is the Company's functional and presentation currency.

3. SIGNIFICANT ACCOUNTING POLICIES

   The accounting policies and the methods of computation adopted in the preparation of these condensed interim financial statements are the same as those applied in the preparation of the annual audited financial statements for the year ended 30 June 2024.

   NOTES TO THE FINANCIAL STATEMENTS

   
   
   

4. ‌PROPERTY PLANT AND EQUIPMENT

   Note

   (Un-audited) (Audited) 31-Mar June 30,

   2025 2024

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

   Operating assets 4.1 2,231,311,422 2,368,897,098

   1. Operating assets

      Book value at beginning of period / year 2,368,897,098 2,557,848,157 Addition during the period - -

      Disposals during the period / year - (5,132,586) Depreciation charged during the period / year (137,585,676) (183,818,472)

      2,231,311,421 2,368,897,098

5. STOCK IN TRADE

   Raw material 21,702,674 21,702,674

   Packing material 1,803,900 1,803,900

   Working solution 195,270,130 195,270,130

   Finished goods - -

   218,776,704 218,776,704

6. CONTINGENCIES & COMMITMENTS

   1. Contingencies

      There is no significant change in contingent liabilities since the date of published audited financial statements for the year ended June 30, 2024.

      NOTES TO THE FINANCIAL STATEMENTS

      
      
      

      ‌(Un-audited) (Un-audited)

      Nine Months Ended March 31, Three Months Ended March 31,

      2025 2024 2025 2024

      ----------------------------- Rupees in '000' ------------------------------

7. REVENUE FROM CONTRACT WITH CUSTOMERS

   Local Sales - 14,900,700 - -Less: Commission and discount - - - -

   - 14,900,700 - -

8. COST OF SALES

   Cost of goods manufactured Finished goods	80,371,148		120,474,651		775,000		40,878,503
   -Opening -Closing	- -		12,798,888 -		- -		- -
   	-		12,798,888		-		-
   	80,371,148		133,273,539		775,000		40,878,503

9. AGGREGATE TRANSACTIONS WITH RELATED PARTIES

   Name of the related party	Relationship and Percentage	Transactions during the period	Un-Audited Nine month ended
   			2025	2024
   			----------- Rupees ----------

   The related parties comprise associated companies, directors, keymanagement personnel and post employment benefit plans. The Company did not carried out any significant transactions with various related parties in Nine months period ended 31 March 2025.

   March 31,

   Chief executive	Loan obtained	48,400,000	48,400,000.00
   officer	Loan repaid	5,126,869	5,126,869.00

   Mr. Imran

   Ghafoor

   NOTES TO THE FINANCIAL STATEMENTS

   
   
   

10. ‌DATE OF AUTHORISATION FOR ISSUE

    These condensed interim financial statements were authorised for issue on 24-10-2025 by the Board of Directors of the Company.

11. GENERAL

11.1

11.2

11.3

Provisions for taxation made in these condensed interim financial statements are subject to adjustment in annual financial statements.

There is no unusual item included in these condensed interim financial statements which is affecting equity, liabilities, assets, (loss), comprehensive (loss) or cash flows of the Company.

Figures have been rounded off to the nearest of Rupees.

Chief Executive Officer

Chief Financial Officer

Director

NOTES TO THE FINANCIAL STATEMENTS

0335-5557717

‌601-602 Business Centre, Mumtaz Hassan Road, Off. I.I. Chundrigar Road, Karachi-74000.

Ph: 021 32401373, 32413944