Sui Southern Gas Co. Ltd.PSX: SSGC

Financial Results for the Year Ended 30 June 2025

· Issued by Sui Southern Gas Co. Ltd.


^



Sui Southern Gas

SSGc Company Limited

SSGC/CS/2025-161

05 November 2025

The General Manager

Pakistan Stock Exchange Limited Stock Exchange Building

Stock Exchange Road Karachi.

Thru: PUCARS/Courier

SUBJECT: FINANCIAL STATEMENTS FOR THE FINANCIAL

YEAR ENDEU 30 JUNE 2025

Dear Sir,

We have to inform you that the Board of Directors of our company in their meeting held on 05 November 2025 at 1:00 pm, at SSGC Board Room, Head Office Building, Gulshan-e-lqbal, Karachi recommended the following:

  1. CASH DIVIDEND

    Final Cash dividend for the year ended 30 June 202S @ Re 0.5 per share i.e. 5%.

  2. BONUS SHARES

  3. RIGHT SHARES

  4. ANY OTHER ENTITLEMENT/CORPORATE ACTION

  5. ANY OTHER PRICE-SENSITIVE INFORMATION

    The financial statements of the Company are attached as follows:

    NIL NIL NIL NIL

    Unconsolidated Financial Statements:

    • Statement of Profit or Loss for the year ended June 30, 2025 (Annex-A);

    • Statement of Financial Position as at June 30, 2025 (Annex-B);

    • Statement of Changes in Equity for the year ended June 30, 2025 (Annex-C);

    • Statement of Cash Flows for the year ended June 30, 202S (Annex-D).

      Consolidated Financial Statements:

    • Statement of Profit or Loss for the year ended June 30, 2025 (Annex-E);

    • Statement of Financial Position as at June 30, 2025 (Annex-F);

    • Statement of Changes in Equity for the year ended June 30, 2025 (Annex-G);



    • Statement of Cash Flows for the year ended June 30, 2025 (Annex-H).

SSGC House, Sir Shah Suleman Road, Gulshan-e-lqbal, P.O. Box 17989, Karachi-75300 PABX Telephone : 99021000, Fax : 92-21-99231550, Website https://www.ssgc.com.pk

Page 1 of 3

Sui Southern Gas Company Limited

SSGC House, Sir Shah Suleman Road, Gulshan-e-lqbal, Karachi

The Auditors in their initialed draft report to the members have stated:

QUALI fiIED OPINION

"Quote"

BASIS FOR QUALIFIED OPINION

  1. As disclosed in notes 14.1 and 14.2to the unconsolidated financial statements, trade debts include receivables of Rs. 28,539 million and Rs. 21,770 million from K-Electric Limited (KE) and Pakistan Steel Mills Corporation (Private) Limited (PSML), respectively. Significant portion of such receivables include overdue amounts, which have been considered good by management and classified as current assets in the unconsolidated financial statements. Further, KE and PSML have disputed Late Payment Surcharge (LPS) on their respective outstanding balances, as disclosed in the above notes to the unconsolidated financial statement as unrecognized LPS. As a result, management has decided to recognize LPS from these entities on a receipt basis, effective July 02, 2012.

    Due to the adverse operational and financial conditions of PSML and disputes with KE and PSML with the Company on LPS, and large accumulation of their respective overdue amounts, we were unable to determine the extent to which the total amounts due from KE and PSML were likely to be recovered including the timeframe over which such recovery will be made.

  2. As disclosed in note 3.4 to the unconsolidated financial statements, the Company was notified to be exempt to comply with the requirements of IFRS 14- Regulatory Deferral Accounts in relation to the preparation of the financial statements till June 30, 2024 by the Securities and Exchange Commission of Pakistan (SECP) vide its letter SMD/PRDD/Comp/(4)/2021/168 dated December 03, 2024. In the absence of any further exemption for the current reporting year, the Company has not complied with the requirements of IFRS 14 including necessary accounting adjustments, related presentation and disclosure requirements necessary to be incorporated in these unconsolidated financial statements. Had the Company incorporated the consequential accounting effects including related presentation and disclosure requirements under IFRS 14, the reported balances of tariff adjustment included in other receivable and trade and other payable (note 18.1 and 34.4), Tariff adjustment amount included in net revenue (note 38) and Earnings per share - basic and diluted (note 46) would have required adjustments, effect of which remains indeterminable.

EMPHASIS OF MATTER

We draw attention to the following:

  1. note 36.1 to the unconsolidated financial statements which inter alia describe that the Company is subject to various material litigations and claims pending adjudication in different courts / forums. The outcome of these cases is uncertain and beyond management's control; and



  2. note 34.2 to the unconsolidated financial statements which describe that the Company has not recognized the accrued markup up to June 30, 2025 amounting to Rs. 370,655 million relating to Government Controlled E&P Companies based on Government advice and a legal opinion.

Our opinion is not modified in respect of above matters "Unquote"

Page 2 of 3

Sui Southern Gas Company Limited

SSGC House, Sir Shah Suleman Road, Gulshan-e-lqbal, Karachi

Company considers that the qualification on IFRS-14 is limited to presentation aspects and have no impact on Profit for the year and net movement in 'Regulatory Deferral Account balances' and 'profit for the year' as per annexed financial statements. Company's exemption renewal request is under consideration with the Federal Government through Ministry of Energy (Petroleum Division).

Annual General Meeting:

The Annual General Meeting of the Company will be held on Thursday, 27 November 2025 at 11:00

a.m. at, Jade Hall, Arena, Habib Rehmatullah Road, Karsaz, Itarachi, in person as well as through Video conferencing.

The recommended entitlement will be paid to the shareholders whose names will appear in the Register of Members on Wednesday, November 19, 2025.

The Share Transfer Books of the Company will be closed from Thursday, November 20, 2025 to Thursday, November 27, 2025, (both days inclusive). Transfers received in order at the office of Share Registrar M/s. CDC Share Registrar Services Limited, CDC House, 99-B, Block-B, S.M.C.H.S, Main Sharah-e-Faisal, Karachi at the close of business on Wednesday, November 19, 2025 will be treated in time for the purpose of above entitlement to the transferees.

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

Yours Sincerely,

Fawad A med Khan



Company Secretary

Executive Director/HOD,

Offsite-II Department, Supervision Division, Securities & Exchange Commission of Pakistan, Islamabad

  1. Head of Operations, Central Depository Company of Pakistan CDC House, 99-B, Block B, S.M.C.H.S, Main Sharah-e-Faisal, Karachi

  2. Assistant General Manager, CDC Share Registrar Services Limited Central Depository Company of Pakistan CDC House, 99-B, Block B, S.M.C.H.S, Main Sharah-e-Faisal, Karachi

Page 3 of 3

Annexure - A

SUI SOUTHERN GAS COMPANY LIMITED UNCONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED JUNE 30, 2025

Note

2025 2024

(Rupees in '000)

Revenue from contracts with customers - Gas sales - net

37

439.329,02 I

412,660.088

(Less) / Add: Tariff adjustment

38

t4.255.351 I

33.209.635

433,073.670

465.869.723

Less: Cost of gas sales

39

t424.084.077)

(455.487.214)

Gtoss profit

Less: Operating Expenses

10.989.593

10.382.509

Administrative and selling expenses

40

(7,378,093)

(7.184.811)

Other operating expenses

Allowance for expected credit loss

41

(3,131,415) t5.7 l6.317I

(22,851.€r10) t1.950.297)

II6.225.825)

{5,236.232)

t3l.986.748a

(21.604.239)

Other operating income

42

24.477.02 7

44,189.145

Operating profit

Finance cost

43

I9.240.795

t12.142.883)

22.584.906

(13.374.738 I

Profit before levy and taxation

Levy

7.097.91 2

9.210,168

Minimum tax differential

(4.402.530)

(2.370.259j

Final tax

(6.074)

f783)

t4,408,604)

12.371,042)

Profit before taxation

2.689,308

6.839.126

Taxation

Profit for the year

44

2.689.?08 6.539.126

(Rupees)

Earnings per share - basic and diluted

46

3.05 7.76

The annexed notes 1 to 58 form an integral part of these unconsolidated financial statements



SUI SOUTHERN GAS COMPANY LIMITED UNCONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT JUNE 30, 2025

Note

Annexure - B

2025 2024

(Rup#s*o'000)

ASSETS

4,350,843

4,031,530

3,214,955

4,037,257

249,970

289,376

130,923,618

127,447,585

1,017,033

1,076.442

664,034

358,483

690,544

707,080

681,182,782

808,932,872

48,768,689

13,862,447

1.187.075

1.123.182

Non-current essets

Property, plant and equipment

5

228,656,118

203,910,241

Intangible assets

6

255,948

186,844

Right of use assets

7

87,460

89,695

Deferred taxation

8

11,160,804

11,160,804

Long term investments

9

1,556,387

1,340,413

Long term loans

10

518,309

610,309

Long term deposits

23.030

21.713

Total non-current assets

242.258,056

217,320,019

Current assets

Stores, spares and loose tools

11

Stock-in-trade

12

Customers' installation work-in-progress

13

Trade debts

14

Loans and advances

15

Advances, deposits, and prepayinents

16

Interest accrued

17

Other receivables

18

Taxation - net

19

Cash and bank balances

20

Total current assets

872.249.543

961.866.254

Total assets

I.I 14.507.599

1.179.186.273

The annexed notes l to 58 form an integral part of these unconsolidated financial statements.





2025

(Rvpeesie'

2024

)

EQUITY AND LIABILITIES

Share Capital and Reserves

Share Capital

21

8,809,163

8,809.163

Reserves

22

4,907,40 l

4,907,401

Surplus on re-measurement of FVTOCI securities

417,382

220,178

Surplus on revaluation of property, plant and equipment

23

59,835,137

59,835,137

Accumulated loss

(65.700.834)

(67.854.673)

8.268.449

5,917.206

LIABILITIES

Non-current liabilities

Long term financing

24

Security deposits

25

Employee benefits

26

Payable against transfer of pipeline

27

Deferred credit

28

Contract liabilities

29

Lease liabilities

30

Long term advances

31

Total non-current liabilities

81,673,974

92,307,939

Current liabilities

Current portion of

Long term financing

32

Payable against transfer of pipeline

27

Deferred credit

28

Contract liabilities

29

Lease liabilities

30

Short term borrowings

33

Trade and other payables

34

Unelaimed dividend

Interest accrued

35

Total current liabilities

1.024.565,176

1,080,961,128

Total liabilities

1,106,239,150

1,173,269,067

Total equity and liabilities

1.114.507.599

1.179.186.273

CONTINGENCIES AND COMMITMENTS

36

SUI SOUTHERN GAS COMPANY LIMITED UNCONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT JUNE 30, 2025

11,049,039

34,561,766

39,086,356

31,399,978

9,623,940

7,262,302

430,722

523,169

5,612,881

5,759,812

12,248,838

10,274,822

11,732

17,886

3.610.466

2.508.204

42,354,518

7,978,924

92,447

84,527

573,451

566,724

334,269

286,977

78,527

68,292

82,806,374

37,774,786

895,653,702

1,030,545,323

34] ,320

34t,320

2.330.568

3,314.255

The annexed notes 1 to 58 form an integral pan of these unconsolidated financial statements



SUI SOUTHERN GAS COM PANY UM ITED tJNCONSOLIDATFD STATEMENT OF CHANG ES IN EQ1.1ITY FOR THE YEAR ENDED JUNE 30, 2025

AnneXure - C



Balance e# st July 0l, 2023

Total comprehensive income for the year ended June 30, 2024

Profit for the year

Other oomprehensivc income For the year

8,809, l63 234,868 4,672,533

(Rupm=in'000)

Issued,

Reserves

Surplus on n-

Surplus on

subetrlbed

measurement

revslusllon of

Capltsl

Revenue

and pald•up

reserves

resumes

of £'Y3'OCl

property, plsnl

capital

(Noto2K2)

(Note 22)

(Note 22)

securltles

rind equlpntent

(Moie23)

115,177 59,835,137 (76,354,79 I) t2,687,9l 3)

Bal•nee cs at Jane 30, 2024

ToalcompwñensivuincomcCortñeyegr endodJuno30,2025

Proñtforthuyce

Other comprehensive loss for the year

8,809,163 234,868 4,672,533

10500!

103001

6,839,126

6,839,126

1,660,992

1,765,993

220,178

-

-



2,689,308

2,689,308

535,469)

(3JB063)

97,404

  • 8,500.118 8,605,119

59,835,137 (67,854,673) 5,917,206

2,1

2 351,243

Balanee as at June 3fI, 202^l 09 6 2 6 4 3 4 7 2 5 ( 2





The annexed noiee I to 58 form an integral part of these unuonso!idated financial statements,



Annexure - D

SUI SOUTHERN GAS COMPAi"fY LIMITED UNCONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 30, 2025

Note

2025 2024

(Rupees ia '000)

CASH FLOWS FROM OPERATING ACTIVITIES

Cash generated from operations 47

Financial charges paid

Employee retirement benefits paid

Contribution paid for employee retirement benefits Long term security deposits received

Long term deposits paid

Loans and advances to employee - net Interest income received

Taxes paid

Net cash flows (used in) / generated from operating activities CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of property, plant and equipment Proceeds from sale of property, plant and equipment Payment against payable for transfer of pipeline Dividend received

Net cash flows used in investing activities

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from long term financing Repayments of long term financing Proceeds from consumer finance Repayment of consumer finance Repayment of lease liability

(22,233,443)

20,000,0tl0

10,018,320

t ,273,205)

(4,666,667)

1,056

(275)

(276)

(104.039)

(97.045)

t* ,357,789)

29,283,943

3,620,105

(1,585)

169,060

337,487

(5.862.025)

26,732,78 l

(15,246,584)

(243,603)

(2,538.700)

7,686,378

(1,317)

151,408

541,040

(39.3 14.846)

(15,936,880)

(204,818)

(881,913)

10,523.374

t .336,255

) (23,704,806)

117,693

73,709

(135,733)

(135,733

40.490

5.220

)

(23,717,626)

Net cash flows generated from financing activities

10.623.537

10.254.334

Net decrease in cash and cash equivalents

(44,967,695)

(2,939,918)

Cash and cash equivalents at beginning of the year

(36.651.604)

(33.711.686)

Cash and cash equivalents at the end of the year

47.2.1

t8l.619.299)

(36.dv I,604j

The annexed notes I to 58 form an integral pan of these unconsolidated financial statement.





SUI SOUTHERN GAS COMPANY LIMITED CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR TBE VEÑR ENDED JUNE 30, 2025

- Note

Annexure - E

2025 2024

(Ropeei in '000)

Revenue from contacts »'ith customers - Gas sales

37

450,699,488

4fi7,319,257

(Less) / Add: Tariff adjustment

38

(4,255,351)

53,209,635

4-t6,44-1,137

300,528,892

Less: Cost of gas sales

39

(434,103,241)

(487,762.309)

"

Gross profit

12,M0,896

12,766,383

Loss: Operating Expenses

Administmtixe and selling expenses

40

(7,577.863)

(7,404,764)

"

Other operating exposes

Allowance for expected credit loss

41

(3,166.070)

(5,716.3171

(22,832,714)

t1,930,297)

(16,460*52)

(32,207,773)

(4,119,356)

(19,d1,392)

Other operating income

42

24,629,329

44,590,282

Operating profit

20,309,973

23,148,890

Finance cost

43

(12.152.632)

{13.396,840d

Profit before levy and wxation

8,357.341

I 1,752.050

Minimum tax differential

(4,402.530)

(2,370,259)

Final cx

(6,074)

(783)

(4,408,604)

(?-,37l,0J2)

Profit before ta.nation

3,948,737

9,38 I,008

Taxation



(307,485)

t1,088,991)

Profit for the year

3,441,232

8,292,017



Earnings per share - basic and diluted

46 3.91

9.41



- The annexed notes 1 io 58 form an inteeral part of these consolidated financial statements.





CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT JUNE 20, 2025

Annexure - F



2025 2024

EQUITY AND LIABILITIES

Share C•p1tat and Reserves

Nae

StareCapitnl 21

Reserves 22

Surplus on rest o£FVTOClsecurities

Surplus on revaluation of property., plmt and equipment 23

Accumulated loss

6,509,163

4,907,40d

417,582

60,742,638

(62.729,S6ñ)

8,809,163

4,907,40!

220.178

60,742,638

(65,625.t821

I AI47,2t9 9,050,198







I l,049,0J9

34, 61,766

39,903,488

32,t60,682



7,270,65g

430,722

523,t69

5,6t2,86t

5,759,gt2

t2,24S,836

I0$74,822

31,812

40,730

3.6t0.466

2.508J04

24



25



Payable against aansfcr of pipeline



Coutrax liabilicics Lease liabilities Long term advances

Total aoo-carmat babflifies

Carreat babititi<>

Cumnt portion of

Long term financing

Payabk against transfer ofpipeline Deferred grant

- Cont liabilities Lease liabilities

snort tern borrowings Trade rind other payable Uncleimed dividend



Totnl current linblliti Tual linbilities



CONTINGENCIES AND COMMITMENTS

27

28

29

30

3I



62.5 t8,734

42.J54,5I8

92,447

S73,45i 334,269 &2,J52 62,806,374

69SO t0576

341,320

W30,566

7,975.924

84,527

566,721

2$6,977

68,706

37774,786

103Q140t I I

34i,320

3JI4.255

32

27

28

29

30

33

34



1.027J25.875 1.MS56.330 I.t09,744.609 t,l75.656.i 73 I.t2t.89i,62S I,lS4,706g7t



36

The anmxed notes 1 to 58 form ari iniegnl part of thest consolidated financid statements.



SUI SOUTHERN GAS COMPANY LIMITED CONSOLIDATED STATESIENT OF FINANCIAL POSITION AS AT JUNE 30, 2025

Note

2023 2024

(Rupees in '000)

.xSSETS

Non-current asseis

Property, plant and equipment

lntangiblaessets



6



235,948

1£6,844

-

Righi of use assets

7

I01,639

104,742

Deferred taxation

8

I 1,067,233

1 l,tH3,3&1

Long term inx'estments

9

4i4,l09

236,705

Long term loans

Long term deposits

10



2J.038

22,721

Total non-rurreni assee

?4J.299.630

219.3 t4,706

Current assets

Stores, spares and loose tools

1 I

4,357.324

4,037,364

Stock-in-cxde

l?

3,915.698

4,486,J43

Customers' installation ›•orL-in-pro•mress



249.970

289.376

Trade debts

l4

130,982.70

5 12?.486.086

Loans and ad'ances

15

620.6H

367,869

Advances. deposits, and prepayments

16

810.794

JJ3,-t76

_

Interest accrued

17

682.659

679.4*l

Oiher receivables

18

681,390.342

809,210.318

Taxation - net

19

51.327.20-1

16,126,534

Short term in"estments

I 29.?23

129.223

Cash and bank balances

20

2,925.653

2,135,32d

Total current assets

877,392.1?8

965,391,663

-

Total assets

1.121.891.8"8

I.I 84.706.37 1

The annexed notes 1 to 38 form an integral part of these consolidated financial statemeni>.







Annexure - G











TOtal compr chensi'c incmm a For he year ended 7une ) 0, 2025





B*I an ce as a t June 30, 2024



To taT compr chensi ye income For the year end cd June 30. *025

P r0 fit IOF Ih6 3'eTr

Oiher co rriprehensivc 1oss for the )'ear

I



6,809, 167

101.00 I

8,292,0 l'/

8,293.0 I y

I ,670.124

} ,3}S,530



334,868 4,672,533









- • - l97,404 - 2.899.617 3.097.OF I

:/ 2









The z ncxed notes I to fi8 Fom an megral pan of lhcsc con soIidatcd financial sjelements.





comozznxzeo srxzzuzxz or cxsuzzows

- FOB TBE YZAB ENS€D ZUNE 30,30CS







47

Annexure - R









CASB FLDWS ESOM INVBSTFNG ACTIV¥T¥ES



Proceeds front disposal of property, pt c wid equipn t





(21/02,759)

t**,537 )

74,60t

(135.736)



29,0I7J57

(15,39$,381)

(241,897)

7,742.806

5 t4,294



33.79l.029

(t5,S63.607)



3,465.7t I



(93,0#3)

4t3,54# (7#76.022)



15,018,320

%$73S0N

t4,666,667)

(275)

(275)

t33fiS7,91l)

126J0, D3

(24,094393)







- Repayment of consum



(35.6J9161



47J

S0.619112 (WQ4.45#) (3X639J6t)

I0L2iO9 (1S11,432) (1£#27?29)





Company analysis