The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road
Karachi
FINANCIAL RESULTS FOR THE HALF YEAR ENDED MARCH 31, 2025
Dear Sir,
We have to inform you that Board of Directors of our Company in their meeting held on May 29, 2025, at 02:30 P.M., at its registered office, 28-C, Block E-1, Gulberg-III, Lahore, approved the condensed interim financial statements of the Company for the half year ended 31 March 2025 and recommended the following:
- CASH DIVIDEND: NIL
- BONUS ISSUE: NIL `
- RIGHT SHARES: NIL
- ANY OTHER ENTITLEMENT/CORPORATE ACTION: NIL
- ANY OTHER PRICE-SENSITIVE INFORMATION: NIL
The unaudited condensed interim Financial Results of the company along with Statement of Financial Position, Statement of Changes in Equity and Statement of Cash Flows for the half year ended on March 31, 2025 are attached herewith.
.
The Quarterly Report of the Company for the half year ended on March 31, 2025 will be transmitted through PUCARS separately, within the specified time.
Thanking you.
Sincerely yours,
For Tariq Corporation Limited
Company Secretary
Lahore - Pakistan
Tariq Corporation Limited 28-C, Block E-1, Gulberg-III,
UAN: 0092 42 111 111 476
https://www.tariqcorp.com
UNCONSOLIDATED CONDENSED INTERIM STATEMENT CF PROFIT OR LOSS FOR THE HALF YEAR ENDED 31 MARCH 2025 (UN-AUDITED)
Half year ended March 31, | ) Quarter ended March 31, | ||
2025 | 2024 | L 2025 | 2024 |
'€'• •••• • • •••• • • • • • • Rupees •• •• ••••••••• •B' 4 •••• •• • • ••••••••• Rupees • • • • • •• •• • • • • • ¥'
REVENUE FROM CONTRACT WITH CUSTOMERS - GROSS | 8,750,755,846 | 7,747,523,842 | 5,790,740,013 | 5,476,947,195 |
Sales Tax And Other Government Levies | (1,303,113,298) | (1,065,057,801) | (926,95+,891) | (759,453,281) |
nEvENuE raou coNTe | 7,447,+42,548 | d,d82,4d6,041 | 4,863,783,122 | 4,717,493,914 |
COST OF REVENUE | (7,220,456,9é3) | (6,994,439,130) | (4,8O5,489,SSO) | (5,225 928,049) |
GROSS PROFIT/ (LOSS) 227,185,080 (3fJ,973,089) 08,293,072 (S08,434,J3S) OPERATING EXPENSES | ||||
Administrative and general expenses | (186,230,912 | (152,472,46d | (t28,599,624 | (77,35O,J73 | |||
Selling and distribution cost | (16,993,895 | (11,520,612 | (7,388,328 | (d,365,318 | |||
Other operating expenses | (11,927,327 | (t1,368,1O4 | 3,623,348 | ||||
(2J5,152,t34) | (1d3,993,078) | (147,35+,056) | (80,092,143) | ||||
PROFIT / (LOSS) FROM OPERATIONS 12,033,451 | (475,966,167) | (89,062,484) | (588,52d,278) | ||||
OTHER INCOME | 246,713,tOt | 30,509,060 | 232,974,463 | 26,209,040 | |||
FINANCE COST | (161,762,878) | (55,520,+20) | (87,004,667) | ||||
PROFIT / (LOSS) BEFORE LEVY AND INCOME TAX | 159,985,683 | (607,219,985) | 88,39t,359 | (649,321,90d) | |||
LEVY | |99,580, J77) | (83,589,928) | (59,857,469) | (59,01d,748) | |||
PROFIT / (LOSS) BEFORE INCOME TAX | 60,400,506 | (d90,809,913) | 28,533,890 | (708,338,654) | |||
INCOME TAX | (26,93é,915) T99,924,892 | (56,074,833) | T8d,5O9,03d | ||||
PROFIT / (Lossj AFTER iNcOuE TAXATION | 33,468,591 | (490,885,021) | (27,540,943) | (521,829,d18) | |||
EARNING / (LOSS) PER SHARE BASIC AND DILUTED | 0.51 | (9.27) | (0.42) | (9.85) | |||
i
’
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025 (UN-AUDITED)
Un-Audited Audited 31-Mar-2025 30-Sep-2024
4 ••••••••••• •••••••• Rupees '•••••••••• •••••••¥'
ASSETS
NON-GURRENT ASSETS
Property, plant and equipment Right of Use-Assets
Intangible assets Investment in subsidiary Biological Assets
Long term deposits
CURRENT ASSETS
Inventory
Trade and other receivables Advances, deposits, prepayments Current portion of long term deposits Financial assets
Cash and bank balances
TOTAL ASSETS
5,129,712,698
61,840,592
70,000,000 t5,00O,O00 57,395,000
35,587,309
5,3b9,535,599
643,388,33d
2,053,727,423
280,975,314
1,224,750
8,096,364
37,062,191
3,024,474,378
8,394,009,977
5,467,713,057
61,813,026
70,000,000
15,000,000
55,140,000
36,368,399
5,706,034,482
d94,672,589 1,786,660,412
229,967,990
10,245,137
5,315,138
14,279,870
2,741,141,136
8,447,175,618
Un-Audited Audited Note 31-Mar-2025 30-Sep-2024
EOUITY AND LIABILITIESSHARE CAPITAL AND RESERVES
Issued, subscribed and paid-up share capital
dd.206 million (30 September 2024: bb.206 million) ordinary shares of Rupees 10 each
Equity component of preference shares
Capital reserves
Reserve arising as a consequence of scheme of arrangement Share premium account
Surplus on revaluation of property, plant and equipment
Revenue reserves Unappropriated profit
NON-CURRENT LIABILITIES
Long term finance Lease Liability
Deferred tax liability - net
Liability component of preference shares
CURRENT LIABILITIESTrade and other payables Contract liabilities
Short term borrowings
Accrued mark-up on secured borrowings Current portion of long term liabilities Provision for income tax
Unpaid dividend on preference shares Unpaid dividend on ordinary shares Unclaimed dividend on ordinary shares
CONTINGENCIES AND COMMITMENTS TOTAL EQUITY’ AND LIABILITIES10 dd2,O62,SOO
11 69,687,645
70,d94,859
290,437,300
2,270,237,t93
2,631,369,352
441,867,827
3,804,987,324
12 229,680,d12
34,632,910
354,168,230
11 52,609,458
2,918,342,960
466,500,797
179,036,711
32,795,838
281,308,337
16,990.858
21,730,045
29,913
671,091,210
13
3,917,931,443
14
8,394,009,977
dd2,O62,500 69,687,645
70,694,859
290,437,300
2,298,017,673
2,659,t49,832
380.d18,75d
3,771,518,733
335,248,354
31,909,754
327,231,313
55,8d5,508
750,254,929
3,031,875,460
374,182,993
100,000,000
38,8d7,142
360,7d5,922
3,976,997
14,507,545
29,913
1,t95,984
3,925,401,956
8,447,175,618
The annexed notes from 1to 22 form an integral part of these financial satements.
UNC@NSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY FOR THE HALF YEAR ENDED 31 MARCH 2025(UN-AUDITED)
Total comprehensive k›ss for the period ended 31March 2024
529,650,000
69,687,64i›
7O,d94,859
22423!,050 2,45B,83ZS11 /753,75B,42O
198,67B,955 /952,437,375
97,366.885 3é4934'O5
(490,885,021) (490,885,02!) (490,885,0Z!)
TansacDonsvñhowne: Adjus4nen{dueto‹epayment-net
ShiesubscnotionmoneyaganJrightshaesisuedduñngtheyear
J97,9BB,724
(29,993,686)
(490,885,021) (490,885,021)
(94,266,885)
J9798872d
(94266,885)
197988,724
29,993A86
(94266,885)
(490,885,OZ)
70,694,8S9
oso l4me8ms 1rs,7wr4 (z«vRsso) Ltd
69,687,645 7O,69A809 29O,C7 8gW,é?0 2 S9j49,WR
33,4d8,5R
Total comprehensive bss for the period ended 31March 2025
33,4O8,5P
(27.780,480) (27,780,480) 27,780,480
662,06/500
d9,6B7,645
70,694.859
29J 37300 /70,237j93 2M1,86P,352
441,867,B27 3,073.237,179
3,804,987,324
31-Mar-2025
Half Year Ended
31-Mar-2024
(Restated)
UNCONSOLIDATED CONDENSED INTERIM STATEivlENT OF CASH FLOWS FOR THE HALF YEAR ENDED 31 MARCH 2025(UN-AUDITED)
CASH FLOWS FROM OPERATING ACTIVITIES Profit / (Loss) before taxation | 60,405,506 | (690,809,913) | ||
Adjustments for non-cash and other items: Depreciation of operating fixed assets | 85,099,923 | 89,149,998 | ||
Depreciation of ROU assets | 8,761,379 | 8,179,892 | ||
Levy | 99,580,177 | 83,589,928 | ||
Finance cost | 98,760,869 | 161,762,878 | ||
Profit on bank accounts | (426,137) | (540,858) | ||
Fair value gain on financial assets | (2,716,048) | (3,178,632) | ||
Fair value gain on biological assets Loss on biological assets due to death Loss on sale of machinery | (4,935,000) 2,t35,000 (t96,791,72J) | |||
Gain on disposal of operating fixed assets | (106,443) | |||
Dividend income | (47,541) | (105.303) | ||
Markup on current account with related party | (3,980,409) | |||
OPERATING PROFIT / (LOSS) BEFORE WORKING CAPITAL CHANGES | 149,826,407 | (356,038,862) | ||
Changes in working capital items: | ||||
inventory | 51,284,253 | (72,995,265) | ||
Trade and other receivables | 33,932,989 | (1,048,942,774) | ||
Advances, deposits and prepayments | (51,007,324) | 120,232,456 | ||
Contract liabilities | 92,317,804 | 172,989,803 | ||
Trade and other payables | (113,702,343) | 1,607,456,255 | ||
12,825,J8O | 778,740,475 | |||
CASH INFLOWS FROM OPERATIONS | 162,651,787 | 422,701,613 | ||
Net change in long term deposits | 9,801,477 | (7,923,814) | ||
Finance cost paid on:
Lease liability
Others
Income tax paid
NET CASH (OUTFLOWS) / INFLOWS FROM OPERATING ACTIVITIES
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of operating fixed assets Capital work in progress incurred Prepayment against ROU assets
Proceeds from disposal of certain items of operating fixed assets Proceeds from disposal of certain items of CWIP - plant and machinery Proceeds from sale cf animal
Change in financial assets (equity securities) during the period - net Dividend received
Profit on bank deposits received
NET CASH INFLOWS / (OUTFLOWS) FROM INVESTING ACTIVITIES CASH FLOW FROM FINANCING ACTIVITIES
Dividend paid on preference shares
Share subscription money received during the period Proceed from long term finance
Repayment of principal portion of long term finance Repayment of principal portion of lease liability Repayment of director's loans
Change in short term borrowings - net
(8,415,853)
(87,986,945)
(86,566,316)
(10,515,850)(44,217,244)
(7,621,185)
(3,211,279)
2OO,000,OOO
545,OOO (65,178) 47,54t
426,137
(181„053,975)
(11,288,770)
79 036,711
145,903,792
(4,159,906)
(138,383,357)
(22,420,941)
249,813,595
(66,183,000)
(113,835,461)
200,000
(251,784)
105,303
540 858
(28,585,518)
197,988,724
52,002,243
(162,887,304)
(94,266,885)
(5,832,518)
151,523,462
(179,424,084)
NET CASH (OUTFLOWS) / INFLOWS FROM FINANCING ACTIVITIES
(113,306,034) 109,942,204
NET INCREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD CASH AND CASH EQUIVALENTS AT END OF THE PERIOD
The reconciliation in cash and cash equivalents is as follows: Cash and bank balances
Temporary books' overdraft balances
'Cash and cash equivalents at the end of the period
22,081,908
14,279,870
36,361,778
37,062,191
(700,413)
36,361,778
180,331,715
54,533,154
234,864,869
241,294,696
(6,429,827)
234,864,869