Transmission of Annual Financial Statements for the Year Ended 2025-06-30

Annual Report 2025

Tri-Star Power Ltd.

Auditors: M/s. Feroze Sharif Tariq & Co.

Chartered Accountants

Bankers: Bank Al-Habib Ltd.

Registered Office: A/33, Central Commercial Area, Block 7/8, Main Shahrah-e-Faisal, KCHSU, Karachi - 75350.

Shares Registrar / Transfer Agent: Hameed Majeed Associates (Pvt) Ltd.

4th Floor, Karachi Chambers, Hasrat Mohani Road, Karachi.

Plant: F/538, S.I.T.E.,

Karachi-75700

Notice of Meeting

Notice is hereby given that the Thirty Second Annual General Meeting of Tri-Star Power Ltd., will be held on Tuesday, October 28, 2025 at 10.30 am at F/538, S.I.T.E., Karachi to transact the following business:

1. Recitation from the HOLY QURAN.

2. To receive and adopt the audited accounts for the period ended June 30, 2025 together with

   the Directors' and Auditors' reports thereon.

3. To appoint Auditors of the Company and fix their remuneration.

4. To transact any other business with the permission of the Chair.

By Order of the Board Company Secretary

Karachi: October 6, 2025.

NOTES:

1. The Share Transfer books of the Company will remain closed from 23.10.2025 to 30.10.2025 (both days Inclusive).

2. Participation in the AGM proceeding via the video Conference facility:

   The AGM proceeding can also be attended via video conference facility. Shareholders interested to participate in the meeting are requested to email their Name, Folio Number, Cell Number, Computerized National Identity Card (CNIC) Number, and Number of shares held in their name with subject "Registration for Tri-Star Power Limited AGM" along with valid copy of both sides of CNIC at power@tristar.com.pk. Video link and login credentials will be shared with only those members whose emails, containing all the required particulars, are received at least 48 hours before the time of AGM. Shareholders can also provide their comments and questions for the agenda items of the AGM at the email.

3. A member entitled to attend AGM is entitled to appoint a proxy and vote in his place at the meeting. Proxy Forms in order to be effective must be received at the registered office of the Company at F/538, S.I.T.E., Karachi duly stamped, signed and witnessed, not later than 48 hours before the meeting.

4. CDC Shareholders or their Proxies are required to bring with them their Original CNIC or Passport along with the Participant's I.D. number and their account number at the time of attending AGM in order to authenticate their identity.

5. Proxy form must be submitted with the Company within the stipulated time, duly witnessed by two persons whose names, addresses and CNIC number must be mentioned on the form, along with attested copies of the CNIC or passport of the beneficial owner and the proxy.

6. In case of corporate entity, the Board of Directors' resolution / power of attorney with the specimen signature of the proxy holder shall be submitted (unless it has been provided earlier) along with proxy form to the Company.

7. Members are requested to notify any change in their addresses immediately to our Shares Registrar M/s. Hameed Majeed Associates (Pvt) Ltd., 4thFloor, Karachi Chamber, Hasrat Mohani Road, Karachi.

8. The Audited financial statements of the Company for the year ended June 30, 2024 have been made available on the Company's website. Those members who require a hard copy of the Company's Annual Report are requested to provide us their latest address to enable us send by these courier / post.

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Tri-Star Power Ltd | Annual Report 2025

Chairman's Review

It gives me immense pleasure to communicate with our valued members and stakeholders and to present the Annual Report of Tri-Star Power Limited for the year ended June 30, 2025 and to appraise them on the overall performance of the Board and the effectiveness of the role played by the Board in achieving the Company's objectives by illustrating the overall performance and achievements of the Company.

I extend my appreciation to the company and its management for following the best practices relating to corporate governance and complies with all the relevant requirements of Companies Act, 2017 and the Code of Corporate Governance as per Listed Companies (Code of Corporate Governance) Regulations, 2019. The board members continued to ensure and extend their guidance to the management to meet all legal and regulatory requirements.

Here, I would also like to place on record my sincere appreciation to our staff members for their valuable services and to the shareholders / other stakeholders for their continued support and trust towards the management and the Company.

Place: Karachi

Dated: October 6, 2025

Jawed Ahmed Siddiqui

Chairman

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The audited accounts of the Company for the year ended June 30, 2025 are presented herewith.

1. FINANCIAL RESULTS

   Financial results are as summarized as follows:

   2025 2024

   Rupees

   Rental Income / Sales - Net - 5,000,000 Cost of Operating Expenses / Sales 282,724 314,138 Gross Profit / (Loss) (282,724) 4,685,862

   Less: Operating Expenses

   Administrative & General Expenses 14,415,582 23,790,624

   Operating (Loss) (14,698,306) (19,104,762)

   Finance Cost 2,900 180 (14,701,206) (19,104,942)

   Other Income / (Charges) 4,804,000 6,804,000 (Loss) before Taxation (9,897,206) (12,300,942)Taxation

   			(483,100) (578,411)
   (Loss) after Taxation	(10,317,806)		(13,362,453)
   (Loss) per share - basic and diluted	(0.69)		(0.89)

   • Current Year (420,600)

   • Prior Year -

2. BUSINESS

   Your Company has given on rental its plant to an associated concern, however, due to stoppage of gas supply by SSGC, the plant cannot be used and as such rental could not be charged. The plant is very old which requires high maintenance and on top there is no gas supply by SSGC. The Company is looking for an alternative / renewal energy which requires fresh investment.

3. DIVIDEND

   The Board has not recommended any dividend this year.

4. AUDITORS

   The present auditors M/s. Feroze Sharif Tariq & Co., Chartered Accountants, are due for retirement and being eligible offer themselves for reappointment.

5. STATEMENT ON CORPORATE AND FINANCIAL REPORTING FRAME WORK

   1. The financial statements, prepared by the management of the Company, present fairly its state of affairs, the results of its operations, cash flows and change in equity.

   2. Proper books of accounts of the Company have been maintained.

   3. Appropriate accounting policies have been consistently applied in preparation of financial statements and accounting estimates are based on reasonable and prudent judgment.

   4. International Accounting Standards, as applicable in Pakistan, have been followed in preparation of financial statements and departure therefrom has been adequately disclosed.

   5. The system of internal control is sound and designed and have been effectively implemented and monitored.

   6. There are no significant doubts upon the Company's ability to continue as going concern.

   7. There has been no material departure from the best practices of corporate governance, as detailed in the listing regulations.

   8. No trading of Company Shares were done by Chief Executive, Directors, Company Secretary and their spouses.

   9. Key operating and financial data for the last six years in summarized form is annexed.

   10. During the year (4) meetings of the Board of Directors were held, attendance by each Director is as follows:

       Name of Director	No. of Meetings attended
       Mr. Asad Ahmad	04
       Mr. Jawed Ahmad Siddiqui	04
       Mr. M. Zameer	04
       Mr. Syed Imran	04
       Mr. Tanvir Hasan	04
       Mr. M. Haroon Saeed	04
       Mr. Abdul Quddus	04

   11. The pattern of share holding is annexed.

6. ACKNOWLEDGMENTS

The Board would like to place on record its appreciation of hard work of the staff responsible for

the Company's affairs.

By Order of the Board

Asad Ahmad Jawed Ahmed Siddiqui

Chief Executive Director

Karachi: October 6, 2025

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Year ended: June 30, 2025

The Company has applied the principles contained in the Code in the following manner.

1. The total number of directors are 7 as per the following:

   1. Male: 7

   2. Female: 0

2. The composition of board is as follows: Independent Director Mr. Syed Imran

   Non - Executive Director Mr. Abdul Quddus

   Mr. Jawed Ahmed Siddiqui Mr. Mohammad Zameer

   Mr. Mohammad Haroon Saeed Mr. Tanvir Hasan

   Executive Director Mr. Asad Ahmad (CEO)

3. The directors have confirmed that none of them is serving as a director on more than seven listed companies, including this Company.

4. The Company has prepared a Code of Conduct and has ensured that appropriate steps have been taken to disseminate it throughout the Company along with its supporting policies and procedures.

5. The Board has developed a vision/mission statement, overall corporate strategy and significant policies of the Company. The Board has ensured that complete record of particulars of the significant policies along with their date of approval or updating is maintained by the company.

6. All the powers of the board have been duly exercised and decisions on relevant matters have been taken by board / shareholders as empowered by the relevant provisions of the Act and these Regulations.

7. The meetings of the board were presided over by the Chairman and, in his absence, by a director elected by the board for this purpose. The board has complied with the requirements of Act and the Regulations with respect to frequency, recording and circulating minutes of meeting of board.

8. The Board have a formal policy and transparent procedures for remuneration of directors in accordance with the Act and these Regulations.

9. All seven (7) members of Board of Directors comply with the requirements of Directors' Training as required under clause 19 of the Listed Companies (Code of Corporate Governance) Regulations, 2019.

10. The board has approved appointment of CFO, Company Secretary and Head of Internal Audit, including their remuneration and terms and conditions of employment and complied with relevant requirements of the Regulations.

11. CFO and CEO duly endorsed the financial statements before approval of the board.

12. The board has formed committees comprising of members given below:

    1. Audit Committee Mr. Syed Imran (Chairman) Mr. Jawed Ahmed Siddiqui Mr. Mohammad Haroon Saeed

    2. HR and Remuneration Committee Mr. Syed Imran (Chairman)

    Mr. Jawed Ahmed Siddiqui Mr. Mohammad Haroon Saeed

13. The terms of reference of the aforesaid committees have been formed, documented and advised to the committee for compliance.

14. The frequency of meetings of the committee were as per following:

    1. Audit Committee Quarterly

    2. HR and Remuneration Committee Annually

15. The Board has set up an effective internal audit function/or has outsourced the internal audit function to who are considered suitably qualified and experienced for the purpose and are conversant with the policies and procedures of the Company.

16. The statutory auditors of the Company have confirmed that they have been given a satisfactory rating under the Quality Control Review program of the Institute of Chartered Accountants of Pakistan and registered with Audit Oversight Board of Pakistan, that they and all their partners are in compliance with International Federation of Accountants (IFAC) guidelines on code of ethics as adopted by the Institute of Chartered Accountants of Pakistan and that they and the partners of the firm involved in the audit are not a close relative (spouse, parent, dependent and non-dependent children) of the Chief Executive Officer, Chief Financial Officer, head of internal audit, Company Secretary or director of the Company.

17. The statutory auditors or the persons associated with them have not been appointed to provide other services except in accordance with the Act, these regulations or any other regulatory requirement and the auditors have confirmed that they have observed IFAC guidelines in this regard.

18. We confirm that all requirements of the Regulations 3, 6, 7, 8, 27, 32, 33 and 36 of the Regulations have been complied with.

19. Explanation for non-compliance with requirements, other than regulations 3, 6, 7, 8, 27, 32, 33 and 36 are below:

Asad Ahmad Chief Executive

Jawed Ahmed Siddiqui Director

Place: Karachi

Dated: October 06, 2025

INDEPENDENT AUDITOR'S REVIEW REPORT TO THE MEMBERS OF TRI STAR POWER LIMITED

Review Report on the Statement of Compliance contained in Listed Companies (Code of Corporate Governance) Regulations, 2019

We have reviewed the enclosed Statement of Compliance with the Listed Companies (Code of Corporate Governance) Regulations, 2019 (the Regulations) prepared by the Board of Directors of Tri-Star Power Limited (the Company) for the year ended June 30, 2025 in accordance with the requirements of regulation 36 of the Regulations.

The responsibility for compliance with the Regulations is that of the Board of Directors of the Company. Our responsibility is to review whether the Statement of Compliance reflects the status of the Company's compliance with the provisions of the Regulations and report if it does not and to highlight any non-compliance with the requirements of the Regulations. A review is limited primarily to inquiries of the Company's personnel and review of various documents prepared by the Company to comply with the Regulations.

As a part of our audit of the financial statements we are required to obtain an understanding of the accounting and internal control systems sufficient to plan the audit and develop an effective audit approach. We are not required to consider whether the Board of Directors' statement on internal control covers all risks and controls or to form an opinion on the effectiveness of such internal controls, the Company's corporate governance procedures and risks.

The Regulations require the Company to place before the Audit Committee, and upon recommendation of the Audit Committee, place before the Board of Directors for their review and approval, its related party transactions We are only required and have ensured compliance of this requirement to the extent of the approval of the related party transactions by the Board of Directors upon recommendation of the Audit Committee.

Following instances of Non-compliances with the requirements of the Code were observed which are not stated in the Statement of Compliance.

1. The composition of board has includes one independent director the Code requires independent directors shall not be less than two or one third of the total members of the board, whichever is higher, whereas board include one independent director.

2. The Company has not formed Internal audit function as required by the code as disclosed in note para 15 of the Statement of compliance.

3. The Company has not appointed Female director as required by the Code as disclosed in para 1 and 2 of the Statement of compliance.

Based on our review, except for the instances of non compliance, above, nothing has come to our attention which causes us to believe that the Statement of Compliance does not appropriately reflect the Company's compliance, in all material respects, with the requirements contained in the Regulations as applicable to the Company for the year ended June 30, 2025.

sd/-

Feroze Sharif Tariq & Co. Chartered Accountants

Place: Karachi

UDIN: CR202510129Cbcf12jzU

Dated: October 8, 2025

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRI STAR POWER LIMITED

Report on the Audit of the Financial Statements

Qualified Opinion

We have audited the annexed financial statements of Tri-Star Power Limited (the Company), which comprise the statement of financial position as at June 30, 2025, and the statement of profit or loss, the Statement of comprehensive income, the statement of changes in equity, the statement of cash flows for the year then ended, and notes to the financial statements, including a summary of material accounting policies information and other explanatory information, and we state that we have obtained all the information and explanations which, to the best of our knowledge and belief, were necessary for the purposes of the audit.

In our opinion, except for the possible effects of the matters described in the Basis for Qualified Opinion section of our report, and to the best of our information and according to the explanations given to us, the statement of financial position, the statement of profit or loss, the Statement of comprehensive income, the statement of changes in equity and the statement of cash flows together with the notes forming part thereof conform with the accounting and reporting standards as applicable in Pakistan and give the information required by the Companies Act, 2017 (XIX of 2017), in the manner so required and respectively give a true and fair view of the state of the Company's affairs as at June 30, 2025 and of the loss, other comprehensive income, the changes in equity and its cash flows for the year then ended.

Basis for Qualified Opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs) as applicable in Pakistan. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the company in accordance with the International Ethics Standards Board for Accountants Code of Ethics for Professional Accountants as adopted by the Institute of Chartered Accountants of Pakistan (the Code) and we have fulfilled our other ethical responsibilities in accordance with the Code.. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

1. We have not been able to verify the investment made in units of National Investment Trust (NIT) amounting to Rs. 34,594,845 (2023: 34,594,845) as disclosed in note 13.2 to the financial statements. Further, No provision has been made in the accounts for the NIT investments the recovery and realization of which are doubtful, the same has been explained in Note No. 13.2.1 to the financial statements. Had the provision for doubtful investment been made in the accounts, the losses of the Company would have been increased by Rs. 34,594,845 (2023: 34,594,845) and the Shareholder's Equity would have been decreased by the same amount.

a) The company has disclosed Investment in Associated companies First Tri star Modaraba Limited and Tri-Star Energy Limited and as Available for sales investment in note 13.1.1 and 13.1.2 to the financial Statements. In our opinion, these investments has to be shown / valued at equity method in accordance with International Accounting standard 28" Investment in associates" by virtue of Common Directors ship and the Common Management Control. We are unable to quantify the effect of the Tri-Star Energy Limited as latest audited accounts are not available as of reporting date.

Had the company valued the investment in First Tri star Modaraba on equity method and the impairment would have been recognized, the profit for the year would have been increased by Rs. 4,691,814 and accumulated Loss would be reduced and Shareholders equity and Long term Investment would have been higher by Rs. 4,691,814 after excluding the effect of Market value as on June 30, 2025.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

We have determined that there are no key audit matters to communicate in our report other than the matters described in the basis for qualified opinion section.

Information Other than the Financial Statements and Auditor's Report Thereon

Management is responsible for the other information. The other information comprises the information in the annual report including in particulars, the Chairman's Review, Directors Report, Financial and business highlights, but does not include the financial statements and our auditor's reports thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Board of Directors for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with the accounting and Reporting standards as applicable in Pakistan and the Requirements of companies Act, 2017 (XIX of 2017), and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Board of Directors are responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs as applicable in Pakistan will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs as applicable in Pakistan, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with the Board of directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide the Board of Directors with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with the board of directors, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

Based on our audit except for the matter discussed in basis for qualified opinion section, we further report that in our opinion:

1. proper books of account have been kept by the Company as required by the Companies Act, 2017 (XIX of 2017);

2. the statement of financial position, the statement of profit or loss, the statement of comprehensive Income, the statement of changes in equity and the statement of cash flows together with the notes thereon have been drawn up in conformity with the Companies Act, 2017 (XIX of 2017) and are in agreement with the books of account and returns;

3. investments made, expenditure incurred and guarantees extended during the year were for the purpose of the Company's

   business; and

4. No Zakat was deductible at source under the Zakat and Ushr Ordinance, 1980 (XVIII of 1980).

The engagement partner on the audit resulting in this independent auditor's report is Mohammad Tariq.

Place: Karachi

UDIN: AR202510129EsWMQbcBr

Dated: October 8, 2025

sd/-

Feroze Sharif Tariq & Co. Chartered Accountants

Tri-Star Power Ltd | Annual Report 2025

Vision Statement

Tri-Star Power Limited is committed to strive for excellence in all areas of its activity.

Mission Statement

We view our business objective of providing distinctive financial products and services that promote commerce and industry with in the context of our overall objective of contributing to the nation's prosperity.

Core Value

1. Striving for continuous improvement and innovation with commitment and responsibility;

2. Treating stakeholders with respect, courtesy and competence;

3. Practicing highest personal and professional integrity;

4. Maintaining teamwork, trust and support, with open and candid communication;

5. Ensuring cost consciousness in all decisions and operations.

Statement of Ethics and Business Practices

The articulation of this statement is based on following points:-

1. Questionable and improper payments or use of the Company's assets.

2. Political contributions.

3. Conflicts on interest.

4. Books and records of the Company.

5. Payment of amounts due to customers, agents or distributors.

6. Reporting violations.

7. Means as important as the end.

8. Integrity and scrupulous dealings.

9. Strict observance of the laws of the country.

10. Giving and receiving gifts.

    STATEMENT OF FINANCIAL POSITION AS AT JUNE 30, 2025

    Notes

    June 30, 2025 June 30, 2024

    (Rupees)

    EQUITY AND LIABILITIES

    CAPITAL & RESERVES

    Authorized Capital
    15,000,000 (2024: 15,000,000) Ordinary Shares of Rs. 10/- each			150,000,000		150,000,000
    Issued, Subscribed and Paid-up Capital		6	150,000,000		150,000,000
    Capital Reserve
    Capital Reserve - (a Share Premium account)			70,000,000		70,000,000
    Revenue Reserve Unrealized gain / (loss) due to change in fair value of investment through Comprehensive Income	other		2,958,220		5,068,230
    Accumulated (Loss)			(49,279,528)		(38,961,722)
    Shareholders Equity			173,678,692		186,106,508
    DEFERRED LIABILITIES
    Deferred tax		7	-		-
    CURRENT LIABILITIES
    Trade and Other Payables		8	37,906,031		27,628,432
    Unclaimed Dividend		9	5,025,285		5,025,285
    Provision for taxation		10	-		-
    			42,931,316		32,653,717
    Contingencies and Commitments		11
    			216,610,008		218,760,225
    ASSETS
    NON-CURRENT ASSETS
    Tangible Fixed Assets
    Property, Plant and Equipments		12	2,577,205		2,863,604
    Long Term Investments		13	81,263,065		83,373,075
    Long term Loan to Related Party		14	20,000,000		20,000,000
    CURRENT ASSETS
    Stores, Spares and Loose Tools	15		145,624		145,624
    Trade Debtors - unsecured	16		48,493,056		49,468,056
    Interest Receivable from Related Party			9,994,521		7,994,521
    Advance Deposits and Prepayments - Considered good	17		11,075,000		11,075,000
    Income Tax Refunds and Advances			174,477		111,976
    Cash and Bank Balances	18		42,887,060		43,728,369
    			112,769,738		112,523,546
    			216,610,008		218,760,225
    The annexed notes form an integral part of these accounts.

    Asad Ahmad Chief Executive

    Mohammad Zameer Chief Financial Officer

    Jawed Ahmed Sidiqui Director

    STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED JUNE 30, 2025

    Notes

    2025 2024

    (Rupees)

    SERVICES REVENUE/ RENTAL INCOME- net	19	--		5,000,000
    COST OF OPERATING EXPENSES	20	282,724		314,138
    GROSS PROFIT/(LOSS)		(282,724)		4,685,862
    Operating Expenses
    Administrative and General Expenses	21	14,415,582		23,790,624
    		14,415,582		23,790,624
    OPERATING (LOSS)		(14,698,306)		(19,104,762)
    Finance Cost	22	2,900		180
    		(14,701,206)		(19,104,942)
    Other Income / (Charges)	23	4,804,000		6,804,000
    (LOSS) BEFORE TAXATION AND LEVIES		(9,897,206)		(12,300,942)
    Taxation
    - Current Levies	24	(420,600)		(483,100)
    (LOSS) BEFOR INCOME TAX		(10,317,806)		(12,784,042)
    TAXATION NET	25	--		(578,411)
    (LOSS) FOR THE YEAR		(10,317,806)		(13,362,453)

    (Loss) Per Share - Basic 26 (0.69) (0.89)

    The annexed notes form an integral part of these accounts.

    Asad Ahmad Mohammad Zameer Jawed Ahmed Sidiqui

    Chief Executive Chief Financial Officer Director

    STATEMENT OF CASH FLOW FOR THE YEAR ENDED JUNE 30, 2025

    2025 2024

    (Rupees)

    CASH FLOW FROM OPERATING ACTIVITIES Profit/(Loss) before Taxation		(9,897,206)		(12,300,942)
    Adjustment for Non-Cash and Other Items:
    Depreciation		286,398		318,231
    Financial Expenses		2,900		180
    		289,298		318,411
    Working Capital Changes		(9,607,908)		(11,982,531)
    (Increase) / Decrease in Current Assets
    Stores and Spares		--		--
    Trade debtors Advances, Deposits and Prepayments Interest Receivable from Related Party Increase / (Decrease) in Current Liabilities Trade and Other Payables		975,000 --(2,000,000) 10,277,599		(4,847,126) --(4,000,000) 22,768,027
    		9,252,599		13,920,901
    Cash Flow from Investing Activities Sales Proceeds from Fixed assets		--		--
    		9,252,599		13,920,901
    Taxes Paid		(483,100)		(2,100,448)
    Financial charges Paid		(2,900)		(180)
    		(486,000)		(2,100,628)
    Net Cash Inflow/ (Outflow) from Operating Activities CASH FLOW FROM FINANCING ACTIVITIES Loan recovered from Related Party		(841,309) --		(162,258) --
    Net Increase in Cash and Cash Equivalents		(841,309)		(162,258)
    Cash and Cash Equivalents at the Beginning		43,728,369		43,890,627
    Cash and Cash Equivalents at the End	29	42,887,060		43,728,369
    The annexed notes form an integral part of these accounts.

    Asad Ahmad Chief Executive

    Mohammad Zameer Chief Financial Officer

    Jawed Ahmed Sidiqui Director

    STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED JUNE 30, 2025

    June 30, June 30,

    2025 2024

    (Rupees)

    Profit for the Year (10,317,806) (13,362,453)

    Items that will not be subsequently reclassified to profit or loss:

    Other comprehensive Income:

    Financial Asset at Fair value through other Comprehensive income

    (2,110,010) (105,150)

    Total comprehensive Income for the year (12,427,816) (13,467,603)

    The annexed notes form an integral part of these accounts.

    Asad Ahmad Chief Executive

    Mohammad Zameer Chief Financial Officer

    Jawed Ahmed Sidiqui Director

    STATEMENT OF CHANGE IN EQUITY FOR THE YEAR ENDED JUNE 30, 2025

    Capital Reserve

Share Capital Capital Reserve

Unrealized gain / (loss) due to change in fair value of investment through other Comprehensive Income

Unappropriated Profit/Accumula ted (Loss)

Total

The annexed notes form an integral part of these accounts.

Asad Ahmad

Mohammad Zameer

Jawed Ahmed Sidiqui

Chief Executive Chief Financial Officer Director

LAST SIX YEAR RESULTS AT A GLANCE FOR THE YEAR ENDED JUNE 30, 2025

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2025

IAS 21 The Effect of Changes in Foreign Exchange Rates (Amendments)

IFRS 7 Financial Instruments: Disclosures (Amendments) January 1, 2026 IFRS 9 Financial Instruments: Classification and Measurement (Amendments)

IFRS 17 Insurance Contracts

Annual improvements to IFRS 7, IFRS 9, IFRS 10 (consolidated financial statements) and IAS 7 (statements of cash flows)

January 1, 2025

January 1, 2026

January 1, 2026

January 1, 2026

5.1.3

The above standards, amendments to approved accounting standards and interpretations are not likely to have any material impact on the Company's

financial statements.

Other than the aforesaid standards, interpretations and amendments, International Accounting Standards Board (IASB) has also issued the following standards and interpretation, which have not been notified locally or declared exempt by the Securities and Exchange Commission of Pakistan (SECP) as at June 30, 2025;

IFRS 1 First-time Adoption of International Financial Reporting Standards

IFRIC 12 Service Concession Arrangement

IFRS 18 Presentation and Disclosures in Financial Statements IFRS 19 Subsidiaries without Public Accountability: Disclosures

Estimates with respect to residual values and depreciable lives and pattern of flow of economic benefits are based on the recommendation of technical team of the Company. Further, the Company reviews the value of the assets for possible impairment on an annual basis. Any change in the estimates in future years might affect the carrying amounts of the respective items of tangible fixed assets with a corresponding affect on the depreciation charge and impairment.