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Merit Packaging Limited Annual Report 2025
72209_rns_2025-09-22_5a6a4b92-0037-4cfc-bb3b-edcd1d65ad4d.pdf
Annual Report
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Registered Office & Corporate Department LAKSON SQUARE, BUILDING NO.2, SARWAR SHAHEED ROAD, KARACHI-74200, PAKISTAN.
September 19, 2025
The General Manager Pakistan Stock Exchange Limited Stock Exchange Building Stock Exchange Road Karachi
Dear Sir.
FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30, 2025
We have to inform you that the Board of Directors of our Company in their meeting held on Friday, September 19, 2025 at 04:00 p.m. at the Registered office of the Company at Lakson Square, Building No.2, Sarwar Shaheed Road, Karachi considered and approved the audited financial statements of the Company for the year ended June 30, 2025.
CASH DIVIDEND /BONUS SHARES NIL
The financial statements of the Company are attached, as under:
-
- Statement of Profit or Loss along with appropriations, (Loss)/Earnings Per Share and comparative figures of immediately preceding corresponding period;
-
- Statement of Financial Position;
-
- Statement of Changes in Equity; and
-
- Statement of Cash Flows.
The Annual General Meeting of the Company will be held on Friday, October 24, 2025 at 03:30 p.m. at Karachi.
The Share transfer Books of the Company will be closed from October 17, 2025 to October 24, 2025 (both days inclusive). Transfers received by the Shares Registrar of the Company, M/s. FAMCO Share Registration Services (Private) Limited, 8-F, Near Hotel Faran, Nursery, Block-6, P.E.C.H.S., Shahra-e-Faisal, Karachi up to the close of business on October 16, 2025 will be treated in time for the purpose of attendance of the Annual General Meeting.
Registered Office & Corporate Department LAKSON SQUARE, BUILDING NO.2, SARWAR SHAHEED ROAD, KARACHI-74200, PAKISTAN.
The Annual Financial Statements (Annual Report) of the Company will be transmitted through PUCARS atleast 21 days before holding the Annual General Meeting.
Kindly acknowledge.
Yours faithfully, For MERIT PACKAGING LIMITED
(MANSOOR AHMED)
Company Secretary
$\mathcal{A}_{2}^{2}$
Cc to: The Executive Director/HOD Offsite-II Department, Supervision Division, Securities & Exchange Commission of Pakistan, 63, NIC Building, Jinnah Avenue, Blue Area, Islamabad.
$\begin{matrix} \textbf{Registered Office & Corporate Department}\ \textbf{LAKSON SQUARE, BULDING NO.2, SARMAR SHAHEED ROAD, KARACHI-74200, PAKISTAN.} \end{matrix}$
STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED JUNE 30, 2025
| 2025 | 2024 | |
|---|---|---|
| Rupees | Rupees | |
| Revenue - net | 5,280,932,621 | 6,638,477,368 |
| Cost of sales | (5,309,665,888) | (6,180,364,067) |
| Gross (loss) / profit | (28, 733, 267) | 458,113,301 |
| General and administrative expenses | (214, 405, 073) | (148, 641, 398) |
| Selling and distribution expenses | (123, 938, 498) | (96, 575, 398) |
| Other income | 27,803,856 | 51,089,167 |
| Other operating expenses | (11, 031, 716) | (15, 416, 293) |
| (321, 571, 431) | (209, 543, 922) | |
| Operating (loss) / profit | (350, 304, 697) | 248,569,379 |
| Financial charges | (183, 065, 358) | (351, 728, 400) |
| Loss before taxation and levy | (533, 370, 055) | (103, 159, 021) |
| Levy | (66, 297, 470) | (83, 203, 401) |
| Loss before taxation | (599, 667, 526) | (186, 362, 422) |
| Taxation | ||
| Loss for the year | (599, 667, 526) | (186, 362, 422) |
| Loss per share - basic and diluted | (3.00) | (0.93) |
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$\begin{matrix} \textbf{Registered Office & Corporate Department}\ \textbf{LAKSON SQUARE, BULDING NO.2, SARWAR SHAHEED ROAD, KARACHI-74200, PAKISTAN.} \end{matrix}$
MERIT PACKAGING LIMITED STATEMENT OF FINANCIAL POSITION AS AT JUNE 30, 2025
| 2025 Rupees |
2024 Rupees |
|
|---|---|---|
| ASSETS | ||
| Non-current assets | ||
| Property, plant and equipment | ||
| Operating fixed assets | 2,349,700,653 | 2,805,924,011 |
| Capital work in progress | 11,949,395 | 115,560,403 |
| 2,361,650,048 | 2,921,484,414 | |
| Right-of-use asset | 125,851,534 | 140,062,324 152,310 |
| Intangible assets | 60,928 12,249,187 |
12,249,187 |
| Long-term deposits | 2,499,811,697 | 3,073,948,235 |
| Current assets | ||
| Stores and spares | 97,482,688 | 114,458,557 |
| Stock-in-trade | 545,652,000 | 452,569,120 |
| Trade debts | 792,650,635 | 1,196,428,201 28,842,424 |
| Loans and advances | 39,752,529 71,608,952 |
86,904,401 |
| Advances, trade deposits and short-term prepayments | 23,675,667 | 17,748,043 |
| Other receivables | 322,094,873 | 266,477,044 |
| Tax refund due from Government | 127,015,061 | 69,096,960 |
| Taxation - net Cash and bank balances |
2,657,049 | 21,309,718 |
| 2,022,589,454 | 2,253,834,468 | |
| Assets classified as held for sale | 494,340,500 | |
| TOTAL ASSETS | 5,016,741,651 | 5,327,782,703 |
| EQUITY AND LIABILITIES | ||
| SHARE CAPITAL AND RESERVES | ||
| Rs. 10/- each | 2,000,000,000 | 2,000,000,000 |
| Issued, subscribed and paid-up capital | 1,999,584,270 | 1,999,584,270 |
| Capital reserve Surplus on revaluation of plant and machinery |
942,873,017 | 973,961,544 |
| Equity portion of loan - associated company | 691,148,871 | 789,949,781 |
| Share premium reserve | 298,325,000 | 298,325,000 |
| Revenue reserves | ||
| General reserves | 106,800,000 | 106,800,000 |
| Accumulated losses | (1,766,665,825) | (1,244,708,033) |
| 2,272,065,333 | 2,923,912,562 | |
| Non-current liabilities | 250,000,000 | 143,634,453 |
| Sub-ordinated loan | 46,823,699 | |
| Long-term financing Lease liability |
133,616,819 | 142,388,067 |
| 383,616,819 | 332,846,219 | |
| Current liabilities | ||
| Trade and other payables | 1,445,040,158 21,951,915 |
1,295,863,527 36,397,482 |
| Mark-up accrued | 841,327,248 | 640,311,702 |
| Short-term borrowings | 46,823,699 | 93,647,402 |
| Current portion of long-term financing | 5,787,336 | 4,674,666 |
| Current portion of lease liability | 129,143 | 129,143 |
| Un-claimed dividend | 2,361,059,499 | 2,071,023,922 |
| TOTAL EQUITY AND LIABILITIES | 5,016,741,651 | 5,327,782,703 |
CONTINGENCIES AND COMMITMENTS
PHONE: 3840 0000 FAX: 92-21-3568 6571 & 3568 3410
Registered Office & Corporate Department
LAKSON SQUARE, BUILDING NO.2, SARWAR SHAHEED ROAD, KARACHI-74200, PAKISTAN.
| Capital Reserves | Revenue Reserves | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| sued, subscribed and paid-up capital |
of plant and machinery Share premium reserve Surplus on revaluation |
Equity portion of loan from associated company |
Sub Total | General Reserve | Accumulated losses | Sub Total | Total | ||
| - Rupees | |||||||||
| Balance as at July 01, 2023 (restated) | 1,999,584,270 | 2,198,988,791 | 298,325,000 | 622,381,448 | 5,119,279,509 | 106,800,000 | (2,274,388,025) | (2,167,588,025) | 2,951,691,484 |
| Total comprehensive income for the year ended June 30, 2024 Loss for the year |
(186, 362, 422) (8,984,833) |
(186, 362, 422) (8,984,833) |
(8,984,833) (186, 362, 422) |
||||||
| Other comprehensive loss | (195, 347, 255) | (195, 347, 255) | (195, 347, 255) | ||||||
| Equity portion of loan - note 23 & 24 Transaction with owners |
167,568,333 | 167,568,333 | 167,568,333 | ||||||
| Transferred to accumulated losses on account of : Incremental depreciation - note 22 |
(1,149,040,135) (75,987,112) |
(75, 987, 112) (1,149,040,135) |
75,987,112 1,149,040,135 |
75,987,112 1,149,040,135 |
|||||
| Disposal of during the year-note 22 | (1,225,027,247) | (1, 225, 027, 247) | 1,225,027,247 | ,225,027,247 | |||||
| Balance as reported at June 30, 2024 | 1,999,584,270 | 973,961,544 | 298,325,000 | 789,949,781 | 4,061,820,595 | 106,800,000 | (1, 244, 708, 033) | (1, 137, 908, 033) | 2,923,912,562 |
| Total comprehensive income for the year ended June 30, 2025 Loss for the year |
(599, 667, 526) | (599, 667, 526) | (599, 667, 526) | ||||||
| Other comprehensive income | 39,427,580 39,427,580 |
39,427,580 39,427,580 |
(592, 473, 899) 7,193,627 |
(592, 473, 899) 7,193,627 |
(553,046,319) 46,621,207 |
||||
| Equity portion of loan - note 23 & 24 Transaction with owners |
(98,800,910) | (98,800,910) | (98,800,910) | ||||||
| Transferred to accumulated losses on account of incremental depreciation - note 22 |
(70,089,050) (427, 057) |
(70,089,050) (427.057) |
427.057 70,089,050 |
427.057 70,089,050 |
|||||
| disposal during the year - note 22 | (70, 516, 107) | (70, 516, 107) | 70,516,107 | 70,516,107 | |||||
| Balance as at June 30, 2025 | 1,999,584,270 | 942,873,017 | 298,325,000 | 691,148,871 | 3,931,931,158 | 106,800,000 | (1,766,665,825) | (1,659,865,825) | 2,272,065,334 |
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MERIT PACKAGING LIMITED
STATEMENT OF CHANGES IN EQUITY
FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30, 2025
$\sim$
PHONE: 3840 0000 FAX: 92-21-3568 6571 & 3568 3410
Registered Office & Corporate Department LAKSON SQUARE, BUILDING NO.2, SARWAR SHAHEED ROAD, KARACHI-74200, PAKISTAN.
MERIT PACKAGING LIMITED STATEMENT OF CASH FLOWS FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30, 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Rupees | Rupees |
CASH FLOWS FROM OPERATING ACTIVITIES
| Cash generated from operations | 311,631,787 | 416,936,506 |
|---|---|---|
| Taxes paid - net | (124, 215, 568) | (98,300,858) |
| Financial charges paid | (158, 508, 268) | (230, 011, 854) |
| Long-term deposits | ۰ | |
| Net cash generated from operating activities | 28,907,951 | 88,623,794 |
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditure made during the year Proceeds from sale of property, plant and equipment Net cash (used in) / generated from investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of long-term financing - sponsors Repayment of long-term financing - financial institution Payment against lease liability Net cash used in financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at beginning of the year Cash and cash equivalents at end of the year
| 28,907,951 | 88,623,794 |
|---|---|
| (116, 337, 313) | (246, 381, 120) |
| 1554501000 |
| 408,550 | 1,554,691,000 |
|---|---|
| (115, 928, 763) | 1,308,309,880 |
| (1,200,000,000) |
|---|
| (144, 898, 741) |
| (1, 344, 898, 741) |
| 52,034,933 |
| (671, 036, 917) |
| (619,001,984) |