TARIQ GLASS INDUSTRIES LIMITED
An ISO 9001 : 2015 Certified Company FSSC 22000 Certified Company
CONTENTS
COMPANY INFORMATION 2
VISION AND MISSION STATEMENT 3
DIRECTORS' REVIEW (English & Urdu) 4-7
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION 8
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS 9
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME 10
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY 11
CONDENSED INTERIM STATEMENT OF CASH FLOWS 12
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS 13
BANKERS
AL-BARAKA BANK (PAK) LIMITED ALLIED BANK LIMITED
ASKARI BANK LIMITED BANK ALFALAH LIMITED BANK ALHABIB LIMITED
BANK ISLAMI PAKISTAN LIMITED FAYSAL BANK LIMITED
HABIB METROPOLITAN BANK LIMITED HABIB BANK LIMITED
MCB BANK LIMITED MEEZAN BANK LIMITED
NATIONAL BANK OF PAKISTAN
PAKISTAN KUWAIT INVESTMENT CO., (PVT) LIMITED SAMBA BANK LIMITED
SONERI BANK LIMITED THE BANK OF KHYBER THE BANK OF PUNJAB UNITED BANK LIMITED
SHARES REGISTRAR
SHEMAS INTERNATIONAL (PVT) LIMITED
533-Main Boulevard, Imperial Garden Block, Paragon City, Barki Road, Lahore.
TEL: +92-42-37191262
E-MAIL: info@shemasinternational.com
COMPANY RATING
LONG TERM: A+ SHORT TERM: A1 OUTLOOK: STABLE RATING AGENCY: PACRA RATING DATE: DECEMBER 19, 2025
TAX CONSULTANTS
GRANT THORNTON ANJUM RAHMAN, CHARTERED ACCOUNTANTS, LAHORE
CORPORATE CONSULTANTS
MR. RASHID SADIQ
M/S R.S. CORPORATE ADVISORY , LAHORE
HUMAN RESOURCE & REMUNERATION COMMITTEE
MR. FAIZ MUHAMMAD CHAIRMAN
MR. OMER BAIG MEMBER
MS. RUBINA NAYYAR MEMBER
AUDIT COMMITTEE
MR. FAIZ MUHAMMAD MR. MANSOOR IRFANI MR. SAAD IQBAL
CHAIRMAN
MEMBER MEMBER
EXTERNAL AUDITORS
CROWE HUSSAIN CHAUDHURY & CO. CHARTERED ACCOUNTANTS, LAHORE
LEGAL ADVISOR
KASURI AND ASSOCIATES, LAHORE
CHIEF FINANCIAL OFFICER
MR. WAQAR ULLAH
COMPANY SECRETARY
MR. MOHSIN ALI
COMPANY INFORMATION
BOARD OF DIRECTORS
MR. MANSOOR IRFANI MR. OMER BAIG
MR. MOHAMMAD BAIG MR. SAAD IQBAL
MS. RUBINA NAYYAR MR. ADNAN AFTAB MR. FAIZ MUHAMMAD
CHAIRMAN
MANAGING DIRECTOR / CEO EXECUTIVE DIRECTOR
NON-EXECUTIVE DIRECTOR
NON-EXECUTIVE / FEMALE DIRECTOR INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR
REGISTERED OFFICE
128-J, MODEL TOWN, LAHORE. UAN: 042-111-34-34-34
FAX: 042-35857692 - 35857693
E-MAIL: info@tariqglass.com WEBSITE: www.tariqglass.com
WORKS
33-KM, LAHORE / SHEIKHUPURA ROAD, DISTRICT SHEIKHUPURA.
TEL: (042) 37925652, (056) 3500635-7
FAX: (056) 3500633
VISION AND MISSION
STATEMENTS
OUR VISIONTo be a premier glass manufacturing organization of International standards and repute, offering innovative value-added products, tailored respectively to the customer's needs and satisfaction. Optimizing the shareholder's value through meeting their expectations, making Tariq Glass Industries Limited an "Investor Preferred Institution" is one of our prime policies. We are a "glassware supermarket" by catering all household and industrial needs of the customers under one roof.
OUR MISSIONTo be a world class and leading company continuously providing quality glass tableware, containers and float by utilizing best blend of state of the art technologies, highly professional staff, excellent business processes and synergistic organizational culture.
Directors' Review
The Board of Directors of Tariq Glass Industries Limited (the "Company" / "TGL") is pleased to present their review together with the un-audited condensed interim financial statements of the Company for the third quarter and nine-month period ended March 31, 2026.
Financial and Operational Performance
During the quarter under review, the global environment remained highly uncertain amid the ongoing geopolitical conflict between the United States, Israel, and Iran, with broader implications and spillover effects across the Middle East region. The situation has significantly disrupted global energy markets, particularly due to tensions surrounding the Strait of Hormuz which is critical route for nearly 20% of global oil supplies. The resulting supply constraints have led to heightened volatility in fuel prices and increased uncertainty in global trade and economic activity. As an energy-import dependent economy, Pakistan has been directly exposed to these detriments. The disruption in oil supply chains has contributed to higher energy costs, inflationary pressures and strain on the Country's external account and overall economic stability.
Against this backdrop, the Company recorded net sales of Rs. 22,765 million as compared to Rs. 24,831 million in the corresponding period of last year, reflecting a decline of 8.3%, primarily attributable to subdued market demand, heightened competition, and slower activity in key end-user sectors. Gross profit stood at Rs. 6,168 million (2025: Rs. 7,692 million), with the gross margin declining to approximately 27.1% from 31.0% last year, mainly due to elevated energy tariffs and higher input costs. Consequently, operating profit decreased to Rs. 5,268 million (2025: Rs. 6,877 million), with operating margins contracting to 23.1% from 27.7% in the corresponding period. Profit before tax was reported at Rs. 4,805 million compared to Rs. 5,904 million last year, while profit after tax amounted to Rs. 2,948 million (2025: Rs. 3,510 million), translating into earnings per share of Rs. 17.12 (2025: Rs. 20.39), with net margins declining to approximately 13.0% from 14.1%. The overall decline in profitability is primarily attributable to margin compression amid cost pressures and lower sales volumes. Notably, finance costs reduced significantly during the period, while cash flows remained stable, reflecting improved financial discipline and continued deleveraging of the balance sheet.
The brief of financial results for the nine months period ended on March 31, 2026 are as under:
(Million Rupees)
Nine Months Ended 31 March
FY2025-2026
FY2024-2025
Net Sales | 22,765 | 24,831 |
Gross Profit | 6,168 | 7,692 |
Profit before Tax | 4,805 | 5,904 |
Profit after Tax | 2,948 | 3,510 |
Earnings per share (Rupees) | 17.12 | 20.39 |
Alhamdulillah, during the period under review, one Tableware and one Float Glass plant operated smoothly, whereas the other two units that one each of Tableware and Float Glass, having completed their campaign life, remained closed.
Future Outlook
The external environment remains uncertain due to the ongoing geopolitical tensions in the Middle East. Any further escalation in the US-Israel vs Iran conflict, particularly disruptions in the Strait of Hormuz, may lead to additional volatility in energy prices, supply chain constraints and broader macroeconomic pressures. Global institutions have also highlighted risks of slower economic growth and higher inflation arising from the conflict.
For Pakistan, continued dependence on imported energy exposes the economy to external shocks, including rising fuel costs, inflationary pressures and potential constraints on industrial activity. However, improving domestic economic indicators like relative stability in inflation, policy measures and revival of construction sector are expected to support gradual recovery in demand.
The Company will continue to focus on operational efficiency, cost optimization and prudent financial management. While risks persist, management remains cautiously optimistic about improved performance, subject to stability in the external environment.
(MANSOOR IRFANI)
For and on behalf of the Board
(OMER BAIG)
Lahore, April 28, 2026 CHAIRMAN MANAGING DIRECTOR / CEO
2025 vL31 | 2026 vL31 | |
24,831 | 22,765 | |
7,692 | 6,168 | |
5,904 | 4,805 | |
3,510 | 2,948 | |
20.39 | 17.12 |
Condensed Interim Statement of Financial Position
As at 31 March 2026
Note ASSETS Non-current assets | (Un-audited) 31 March 2026 - Rupees | in | (Audited) 30 June 2025 '000 --------- | |
Property, plant and equipment 5 Investment in associates Long term deposits Loan to associate | 11,970,340 1,655,036 541,707 233,333 | 12,058,298 1,821,124 544,006 166,983 | ||
Current assets | 14,400,416 | 14,590,411 | ||
Stores and spare parts | 1,982,023 | 1,573,015 | ||
Stock in trade | 4,639,821 | 5,204,864 | ||
Trade debts | 3,759,060 | 4,354,640 | ||
Advances, deposits, prepayments and other receivables | 1,600,820 | 851,883 | ||
Short term investment | 200,000 | 300,000 | ||
Cash and bank balances | 2,619,216 | 948,173 | ||
14,800,940 | 13,232,575 | |||
Total assets | 29,201,356 | 27,822,986 | ||
EQUITY AND LIABILITIES | ||||
Share capital and reserves | ||||
Authorized share capital 500,000,000 ordinary shares of Rs. 10 each | 5,000,000 | 5,000,000 | ||
Issued, subscribed and paid-up capital 172,167,187 ordinary shares of Rs. 10 each Share premium | 1,721,672 410,117 | 1,721,672 410,117 | ||
Unappropriated profit | 19,858,858 | 17,772,093 | ||
Surplus on revaluation of freehold land | 2,515,984 | 2,515,984 | ||
Shareholders' equity | 24,506,631 | 22,419,866 | ||
Liabilities | ||||
Non-current Liabilities | ||||
Long term finances - secured | 294,632 | 453,411 | ||
Lease liabilities | 42,941 | 53,713 | ||
Deferred taxation | 757,972 | 876,799 | ||
1,095,545 | 1,383,923 | |||
Current liabilities | ||||
Trade and other payables | 2,802,882 | 2,984,364 | ||
Contract liabilities | 494,805 | 199,260 | ||
Unclaimed dividend | 20,194 | 17,901 | ||
Accrued mark-up | 9,661 | 13,108 | ||
Current portion of long term liabilities | 271,638 | 642,265 | ||
Taxation - net | - | 162,299 | ||
3,599,180 | 4,019,197 | |||
Total equity and liabilities | 29,201,356 | 27,822,986 | ||
Contingencies and commitments | 6 | |||
The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements
(un-audited).
28 April 2026 | MANSOOR IRFANI | OMER BAIG | WAQAR ULLAH |
Lahore | CHAIRMAN | MANAGING DIRECTOR / CEO | CHIEF FINANCIAL OFFICER |
Condensed Interim Statement of
Profit or Loss (Un-audited)
For the Nine Months and Quarter Ended 31 March 2026
Nine months ended Quarter ended
31 March
2025
s in '000 --------
31 March
2025
s in '000 --------
(815,016)
(263,636)
2,388,591
28,474
(76,175)
(48,479)
(159,927)
2,132,484
(888,876)
1,243,608
Rupees
ees
17.12 20.39 7.22
6.42
Rup
1,104,641
3,509,736
2,947,601
1,939,327
(834,686)
5,904,230
(2,394,494)
4,805,125
(1,857,524)
2,105,955
55,419
(11,826)
(56,067)
(154,154)
6,877,054
113,538
(376,987)
(241,517)
(467,858)
5,268,429
151,119
(56,808)
(166,088)
(391,527)
(291,570)
31 March
2026
- Rupee
(899,318)
31 March
2026
- Rupee
Note
Revenue | 7 | 22,765,451 | 24,831,285 | 8,235,929 | 8,393,818 |
Cost of sales | (16,597,704) | (17,139,215) | (5,838,404) | (5,741,591) | |
Gross profit | 6,167,747 | 7,692,070 | 2,397,525 | 2,652,227 | |
Administrative expenses | (444,760) | (435,670) | (144,427) | (140,691) | |
Selling and distribution expenses | (454,558) | (379,346) | (147,143) | (122,945) | |
Operating profit
Other income Finance cost
Share of loss of associate Other expenses
Profit before taxation
Taxation
Net profit for the period
Earnings per share - basic and diluted
The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements
(un-audited).
28 April 2026 | MANSOOR IRFANI | OMER BAIG | WAQAR ULLAH |
Lahore | CHAIRMAN | MANAGING DIRECTOR / CEO | CHIEF FINANCIAL OFFICER |
Condensed Interim Statement of
Comprehensive Income (Un-audited)
For the Nine Months and Quarter Ended 31 March 2026
31 March 2026 - Rupees 2,947,601 - | 31 March 2025 in '000 -------- 3,509,736 - | 31 March 2026 - Rupees in 1,104,641 - | 31 March 2025 '000 -------- 1,243,608 - |
2,947,601 | 3,509,736 | 1,104,641 | 1,243,608 |
Nine months ended Quarter ended
Net profit for the period
Other comprehensive
income for the period
Total comprehensive income
for the period
The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements (un-audited).
28 April 2026 | MANSOOR IRFANI | OMER BAIG | WAQAR ULLAH |
Lahore | CHAIRMAN | MANAGING DIRECTOR / CEO | CHIEF FINANCIAL OFFICER |
Condensed Interim Statement of
Changes in Equity
For the Nine Months Ended 31 March 2026
Share capital | Capital Reserve | Revenue Reserve | Total equity | |
Share Premium | Surplus on revaluation of freehold land | Unappropri- ated profit | ||
….......................…..................................................Rupees in '000….......…..........…........................................................
Balance as at July 01, 2024 1,721,672 410,117 | 2,515,984 | 13,975,854 | 18,623,627 | ||
Total comprehensive income | |||||
Profit for the period ended 31 March 2025 - - | - | 3,509,736 | 3,509,736 | ||
Other comprehensive income for the period - - | - | - | - | ||
Total comprehensive income for the period - - | - | 3,509,736 | 3,509,736 | ||
Transactions with owners | |||||
Interim dividend for the year ended 30 June 2025 | |||||
at the rate of Rs. 2.00 (20%) per ordinary share - - | - | (344,334) | (344,334) | ||
Balance as at 31 March 2025 - Un-audited 1,721,672 410,117 | 2,515,984 | 17,141,256 | 21,789,029 | ||
Total comprehensive income | |||||
Profit for the period ended 30 June 2025 | - | - | - | 1,267,990 | 1,267,990 |
Other comprehensive income for the period | - | - | - | - | - |
Total comprehensive income for the period | - | - | - | 1,267,990 | 1,267,990 |
Transactions with owners | |||||
Interim dividend for the year ended 30 June 2025 | |||||
at the rate of Rs. 2.00 (20%) per ordinary share | - | - | - | (344,334) | (344,334) |
Share in equity adjustment of associate | - | - | - | (292,819) | (292,819) |
Balance as at 30 June 2025 - Audited | 1,721,672 | 410,117 | 2,515,984 | 17,772,093 | 22,419,866 |
Total comprehensive income | |||||
Profit for the period ended 31 March 2026 | - | - | - | 2,947,601 | 2,947,601 |
Other comprehensive income for the period | - | - | - | - | - |
Total comprehensive income for the period | - | - | - | 2,947,601 | 2,947,601 |
Transactions with owners | |||||
Interim dividend for the year ended 30 June 2026 | |||||
at the rate of Rs. 5.00 (50%) per ordinary share | - | - | - | (860,836) | (860,836) |
Balance as at 31 March 2026 - Un-audited | 1,721,672 | 410,117 | 2,515,984 | 19,858,858 | 24,506,631 |
The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements (un-audited).
28 April 2026 | MANSOOR IRFANI | OMER BAIG | WAQAR ULLAH |
Lahore | CHAIRMAN | MANAGING DIRECTOR / CEO | CHIEF FINANCIAL OFFICER |
Condensed Interim Statement
of Cash Flows (Un-audited)
For the Nine Months Ended 31 March 2026
Cash flows from operating activities
Profit before taxation Adjustments for:
Depreciation
Amortization of intangibles
Gain on disposal of property, plant and equipment Finance cost
Reversal of provision for expected credit losses
Recovery against doubtful advances / written off during the period Share of loss from associates - net
Provision for Workers' Profit Participation Fund Provision for Workers' Welfare Fund
Operating profit before working capital changes
Changes in:
Stores and spare parts Stock in trade
Trade debts
Advances, deposits and prepayments Trade and other payables
Contract liability
Cash generated from operating activities
Payments to Workers' Profit Participation Fund Payments to Workers' Welfare Fund
Income tax paid
Net cash generated from operating activities
Cash flows from investing activities Fixed capital expenditure
Proceeds from disposal of property, plant and equipment Short term investment
Loan to associates
Long term advances and deposits
Net cash used in investing activities Cash flows from financing activities
Repayment of long term finances - net Repayment of lease liabilities Repayment short term borrowings - net Finance cost paid
Dividend paid
Net cash used in financing activities Increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period
31 March
31 March 2026 - Rupees 4,805,125 |
842,406 -(8,272) 45,113 (2,492) (676) 166,088 271,531 120,042 |
1,433,740 6,238,865 |
(409,008) 565,042 598,073 (277,314) 56,355 295,546 |
828,694 7,067,559 |
(445,542) (183,868) (2,550,846) |
(3,180,256) 3,887,303 |
(755,906) 9,730 100,000 (125,101) 2,299 |
(768,978) |
(530,733) (9,445) -(48,561) (858,543) |
(1,447,282) 1,671,043 |
948,173 |
2,619,216 |
2025
in '000 ----------
5,904,230
862,393
71
(38,151)
364,617
(2,656)
-241,517
334,573
144,715
1,907,079
7,811,309
(145,324)
114,107
(736,582)
726,542
(449,639)
100,150
(390,746)
7,420,563
(315,427)
(135,864)
(1,905,886)
(2,357,177)
5,063,386
(282,101)
45,324
-(272,500)
(9,910)
(519,187)
(838,477)
69,374
(2,487,335)
(485,629)
(338,192)
(4,080,259)
463,940
682,396
1,146,336
The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements (un-audited).
28 April 2026 | MANSOOR IRFANI | OMER BAIG | WAQAR ULLAH |
Lahore | CHAIRMAN | MANAGING DIRECTOR / CEO | CHIEF FINANCIAL OFFICER |
Notes to the Condensed Interim Financial Statements
For the Nine Months Ended 31 March 2026
1 The Company and its operations
Tariq Glass Industries Limited ("the Company") was incorporated in Pakistan in 1978 and converted into a Public Limited Company in the year 1980. The Company's shares are listed on Pakistan Stock Exchange. The Company is principally engaged in the manufacture and sale of glass containers, tableware, opal glass and float glass. The registered office of the Company is situated at 128-J, Model Town, Lahore. The production facilities of the Company are located at Kot Saleem, Sheikhupura.
Basis of preparation
Statement of compliance
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 International Accounting Standards Board (IASB) as notified under the Companies Act, 2017;
Islamic Financial Accounting Standards (IFAS) issued by the Institute of Chartered Accountants of Pakistan (ICAP) as notified under the Companies Act, 2017; and
Provision of and directives issued under the Companies Act, 2017
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 do not include all of the information required in annual financial statements and should be read in conjunction with the financial statements of the Company for the year ended 30 June 2025. Comparative condensed interim statement of financial position is extracted from the annual financial statements as at 30 June 2025 whereas comparative condensed interim statement of profit or loss account, condensed interim statement of comprehensive income, condensed interim statement of changes in equity and condensed interim statement of cash flows have been extracted from the un-audited condensed interim financial statements for the quarter ended 31 March 2025.
These condensed interim financial statements are un-audited and are being submitted to the members as required under Section 237 of the Companies Act, 2017 and listing regulation of the Pakistan Stock Exchange.
Critical accounting estimates and judgements
The preparation of these condensed interim financial statements in conformity with approved accounting standards require the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies. Estimates and judgements are continually evaluated and are based on historic experience, including expectations of future events that are believed to be reasonable under the circumstances.
Estimates and judgements made by the management in the preparation of these condensed interim financial statements are the same as those used in the preparation of annual audited financial statements of the Company for the year ended 30 June 2025.
Significant accounting policies
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 annual audited financial statements for the year ended 30 June 2025. Amendments to certain existing standards and interpretations on approved accounting standards effective during the
period did not have any material impact on the accounting policies of the Company.
Property, plant and equipment
Operating fixed assets (Note 5.1)
Capital work in progress Stores held for capitalization
Operating fixed assets
Opening balance of written down value Additions during the period / year Disposals during the period / year - net
Depreciation for the period / year Closing balance of written down value
Contingencies and Commitments
Contingencies
Audited 30 June
Un-audited 31 March
2026
- Rupees
9,653,911
1,686,867
629,562
11,970,340
10,233,161
264,614
(1,458)
10,496,317
(842,406)
9,653,911
2025
in '000 ----------
10,233,161
1,230,735
594,402
12,058,298
11,079,591
320,217
(7,173)
11,392,635
(1,159,474)
10,233,161
There is no material change in the status of contingencies as reported in the financial
statements of the Company for the year ended 30 June 2025.
Commitments
Letters of credit for capital expenditure amounting to Rs. 252.54 million (30 June 2025:
Rs. 40.31 million).
Letters of credit for other than capital expenditure amounting to Rs. 164.45 million (30 June
2025: Rs. 192.57 million).
The amount of future ijarah rentals for ijarah financing and the period in which these payments will become due are as follows:
Un-audited 31 March
2026
- Rupees
17,324
29,329
46,653
Audited
30 June
2025
in '000 ----------
Not later than one year -
Later than one year but not later than five years -
-
Nine months ended Quarter ended
Un-audited
31 March
2026
Un-audited
31 March
2025
Un-audited
31 March
2026
Un-audited
31 March
2025
---------- Rupees in '000 ---------- ---------- Rupees in '000 ----------
Revenue
Local Export
29,483,353
552,839
30,019,352
1,695,826
10,732,089
112,898
10,348,835
489,971
30,036,192
31,715,178
10,844,987
10,838,806
Less: Sales tax
Trade discounts
(7,270,741)
(6,883,893)
(2,609,058)
(2,444,988)
22,765,451
24,831,285
8,235,929
8,393,818
(1,516,177)
(928,811)
(1,533,233)
(1,075,825)
(4,317,621)
(2,566,272)
(4,120,727)
(3,150,014)
2,393,652
5,510,264
6,954,009
16,183,016
7,413,041 14,801,363 |
22,214,404 |
365,253 185,794 |
551,047 |
22,765,451 |
2,799,265 5,323,857 |
8,123,122 |
94,673 18,134 |
112,807 |
8,235,929 |
Disclosure regarding disaggregation of sales - products transferred at a point in time Type of products - net local sales
Tableware glass products Float glass products
Type of products - net export sales Tableware glass products
Float glass products
Transactions with related parties
23,137,025
1,026,571
667,689
1,694,260
24,831,285
7,903,916
246,416
243,486
489,902
8,393,818
Related parties comprises of associated companies, staff retirement fund, directors, key management personnel and other companies where directors have significant influence. Balances with the related parties are shown in respective notes to the financial statements. Significant transactions with related parties are as follows:
Nine months ended
Name and relationship of parties | Nature of transaction | Un-audited 31 March 2026 | Un-audited 31 March 2025 |
- Rupees | in '000 -------- | ||
TRANSACTIONS DURING THE PERIOD: | |||
Associated companies / Joint venture | |||
Omer Glass Industries Limited | Dividend paid | 90,630 | 36,252 |
M&M Glass (Private) Limited | Dividend paid | 10,885 | 4,354 |
MMM Holding (Private) Limited | Long term loan | 66,350 | 272,500 |
Interest income on long term loan | 20,504 | 7,872 | |
Baluchistan Glass Limited | Sales of stores, spares and raw materials | - | 302,042 |
Purchase of trading materials | 44,369 | 953,037 | |
Payments against purchases | 41,000 | - | |
Guarantee commission | - | 20,896 | |
Guarantee commission received | 5,332 | - | |
Short term loan | 58,751 | - | |
Interest income on short term loan | 29,178 | 7,409 | |
Interest income received | 30,350 | - | |
Employee benefit plan | |||
Provident fund | Contribution during the period | 53,167 | 47,559 |
Directors | |||
Remuneration paid | 74,500 | 62,000 | |
Dividend paid | 274,014 | 109,606 | |
Other key management | |||
personnel | Remuneration paid | 137,381 | 104,552 |
Dividend paid during the period | 149,758 | 59,903 | |
Name and relationship of parties | Nature of transaction | Un-audited 31 March 2026 | Audited 30 June 2025 |
OUSTANDING BALANCES AS AT: | |||
Associated companies / Joint ventures | |||
Lucky TG (Private) Limited | Investment in associated company | 10,454 | 10,454 |
MMM Holding (Private) Limited | Investment in joint venture | 1,644,582 | 1,810,670 |
Long term loan | 233,333 | 166,983 | |
Interest receivable on long term loan | 32,043 | 11,539 | |
Baluchistan Glass Limited | Receivable against sales of stores, spares, raw materials and | 395,608 | 400,676 |
guarantee commission | |||
Short term loan | 321,251 | 262,500 | |
Interest receivable on short term loan | 15,606 | 16,778 | |
Balance payable against purchases | 5,446 | 2,077 | |
Fair value measurement of financial instruments
Fair value is determined on the basis of objective evidence at each reporting date. The Company has not made any changes to valuation techniques used to value financial instruments as described in annual audited financial statements for the year ended 30 June 2025.
Financial risk management
The Company's activities are exposed to a variety of financial risk namely credit risk, foreign exchange risk, interest rate risk and liquidity risk. The Company's financial risk management objective and policies are consistent with those disclosed in the annual audited financial statements for the year ended 30 June 2025.
Date of authorization for issue of condensed interim financial information
These condensed interim financial statements have been authorized for issuance by the Board of
Directors of the Company on 28 April 2026.
General
Figures have been rounded off to the nearest thousand Pakistani Rupees unless otherwise stated.
Corresponding figures have been rearranged and reclassified where necessary for better presentation.
28 April 2026 | MANSOOR IRFANI | OMER BAIG | WAQAR ULLAH |
Lahore | CHAIRMAN | MANAGING DIRECTOR / CEO | CHIEF FINANCIAL OFFICER |
TARIQ GLASS INDUSTRIES LIMITED
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NOYA
Toyo
Nosic
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