Financial Results for the Three Months Period and Quarter Ended 31 March 2025

SEC/39/TRIPF

April 21, 2025

I.

CASH DIVIDEND:

NIL

II.

BONUS SHARES:

NIL

III.

RIGHT SHARES:

NIL

IV.

ANY OTHER ENTITLEMENT/CORPORATE ACTION:

NIL

V.

ANY OTHER PRICE-SENSITIVE INFORMATION:

NIL

The following annexures are also attached herewith:

Statement of Profit or Loss along with Earning/(Loss) per share

Annexure 'A'

Statement of Financial Position

Annexure 'B'

Statement of Changes in Equity

Annexure 'C'

Statement of Cash Flows

Annexure 'D'

CC:

Director

Director

Director

Company Law Division

Enforcement Department

Securities Market Division

Securities and Exchange Commission of

Securities and Exchange Commission of

Securities and Exchange Commission of

Pakistan

Pakistan

Pakistan

NIC Building, Jinnah Avenue

NIC Building, Jinnah Avenue

NIC Building, Jinnah Avenue

Blue Area, Islamabad

Blue Area, Islamabad

Blue Area, Islamabad

Executive Director/HOD

Offsite-II Department

Supervision Division

Securities & Exchange Commission of Pakistan

63, NIC Building, Jinnah Avenue

Blue Area, Islamabad

TRI-PACK FILMS LIMITED

ANNEXURE - 'A'

Quarter Ended March 31

2025

2024

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

(Restated)

Revenue from contracts with customers

7,813,920

7,022,216

Cost of sales

(6,756,290)

(6,202,590)

Gross profit

1,057,630

819,626

Distribution costs

(316,236)

(306,172)

Administrative expenses

(194,718)

(154,628)

(510,954)

(460,800)

(Loss) allowance / Reversal on trade receivables

(9,904)

(328)

Operating profit

536,772

358,498

Other income

78,421

40,582

615,193

399,080

Other expenses

-

(4,704)

Finance cost - net

(707,396)

(330,919)

(707,396)

(335,623)

(Loss) / Profit before income tax and levies

(92,203)

63,457

Levies (minimum and final tax)

(75,607)

(89,314)

Loss before income tax

(167,810)

(25,857)

Income tax - net

146,944

13,813

Loss for the period

(20,866)

(12,044)

Other comprehensive income for the period:

Items that will not be reclassified

subsequently to profit or loss

Remeasurement of staff retirement benefits

-

-

Total comprehensive loss for the period

(20,866)

(12,044)

Loss per share - basic and

diluted (Rupees)

(0.54)

(0.31)

TRI-PACK FILMS LIMITED

ANNEXURE - 'B'

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT MARCH 31, 2025

(Un-audited)

(Audited)

March 31,

December 31,

2025

2024

(Rupees in '000)

ASSETS

NON CURRENT ASSETS

Property, plant and equipment

19,156,655

19,258,566

Intangibles

3,506

4,669

Deferred taxation

151,551

4,607

Long term deposits

25,783

25,783

19,337,495

19,293,625

CURRENT ASSETS

Inventories

4,530,798

4,161,502

Trade receivables

3,299,078

3,259,526

Advances and prepayments

0

293,953

308,870

Other receivables

0

592,300

681,179

Refunds due from government - sales tax

0

1,487,764

1,910,978

Income tax refundable

1,582,566

1,535,842

Cash and bank balances

1,307,383

1,111,986

13,093,842

12,969,883

TOTAL ASSETS

32,431,337

32,263,508

EQUITY AND LIABILITIES

SHARE CAPITAL AND RESERVES

Issued, subscribed and paid up share capital

388,000

388,000

Share premium

999,107

999,107

General reserve

1,605,000

1,605,000

Unappropriated profit

2,165,584

2,186,450

5,157,691

5,178,557

LIABILITIES

NON CURRENT LIABILITIES

Long term borrowings

12,238,047

12,521,347

Deferred income - government grant

534,018

580,889

Lease liability

38,288

37,814

Staff retirement benefits

128,642

115,309

Accumulated compensated absences

49,983

48,901

12,988,978

13,304,260

CURRENT LIABILITIES

Trade and other payables

7,852,010

6,276,771

Unclaimed dividend

24,835

24,870

Accrued mark-up

372,340

245,415

Short term borrowings

5,075,555

6,222,762

Current portion of lease liability

4,532

3,567

Current portion of long term borrowings

955,396

1,007,306

14,284,668

13,780,691

TOTAL LIABILITIES

27,273,646

27,084,951

CONTINGENCIES AND COMMITMENTS

TOTAL EQUITY AND LIABILITIES

32,431,337

32,263,508

TRI-PACK FILMS LIMITED

ANNEXURE - 'D'

CONDENSED INTERIM STATEMENT OF CASH FLOWS

FOR THE QUARTER ENDED MARCH 31, 2025 - (UNAUDITED)

March 31,

March 31,

2025

2024

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

CASH FLOWS FROM OPERATING ACTIVITIES

Cash generated from operations

2,643,700

596,737

Payment on account of accumulated

compensated absences

(4,231)

(1,603)

Staff retirement benefits paid

(16,343)

(21,537)

Income tax and levies paid

(122,331)

(314,547)

Net cash generated from operating activities

2,500,795

259,050

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of property, plant and equipment

(268,730)

(2,919,219)

Purchase of intangible assets

-

-

Profit received on bank balances

11,604

8,401

Sale proceeds on disposal of operating fixed assets

120

2,636

Net cash used in investing activities

(257,006)

(2,908,182)

CASH FLOWS FROM FINANCING ACTIVITIES

Long term borrowings - net

(335,210)

226,838

Short term borrowings - net

(1,846,659)

-

Finance cost paid

(530,509)

(679,428)

Dividend paid

(35)

(12)

Lease rental paid

-

(902)

Transaction cost paid

-

-

Bank charges paid

(35,212)

(25,363)

Net cash used in financing activities

(2,747,625)

(478,867)

Net decrease in cash and cash equivalents

(503,836)

(3,127,999)

Cash and cash equivalents at the beginning of the period

(952,617)

(2,576,100)

Cash and cash equivalents at the end of the period

(1,456,453)

(5,704,099)