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Merit Packaging Limited Interim / Quarterly Report 2026
72209_rns_2026-02-26_12edea00-8279-4e9c-b4a7-8c50eda8b5eb.pdf
Interim / Quarterly Report
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Registered Office & Corporate Department LAKSON SQUARE, BUILDING NO.2, SARWAR SHAHEED ROAD, KARACHI-74200, PAKISTAN.
February 25, 2026
The General Manager Pakistan Stock Exchange Limited Stock Exchange Building Stock Exchange Road Karachi
Dear Sir.
FINANCIAL RESULTS FOR THE HALF YEAR ENDED DECEMBER 31, 2025
We have to inform you that the Board of Directors of our Company in their meeting held on February 25, 2026 at 01:00 p.m. at the Registered Office of the Company at Lakson Square, Building No. 2, Sarwar Shaheed Road, Karachi has approved the un-audited financial statements duly reviewed by the auditors of the Company for the half year ended December 31, 2025.
The financial statements of the Company are attached, as under:
-
- Statement of Profit or Loss including Earning/(Loss) Per Share for the current interim period and cumulatively for the current financial year to date with comparative Statement of Profit or Loss for the comparable interim periods (current and year-to-date of the immediately preceding financial year);
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- Statement of Financial Position;
-
- Statement of Changes in Equity; and
-
- Statement of Cash Flows.
The half yearly report of the Company for the period ended December 31, 2025 will be transmitted through PUCARS separately, within the specified time.
Yours faithfully, For MERIT PACKAGING LIMITED
(MANSOOR AHMED) Company Secretary
Encl: As above
Cc to: The Executive Director/HOD Offsite-II Department, Supervision Division, Securities & Exchange Commission of Pakistan, 63, NIC Building, Jinnah Avenue, Blue Area, Islamabad.
Registered Office & Corporate Department LAKSON SQUARE, BUILDING NO.2, SARWAR SHAHEED ROAD, KARACHI-74200, PAKISTAN.
MERIT PACKAGING LIMITED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UNAUDITED) FOR THE HALF YEAR AND QUARTER ENDED DECEMBER 31, 2025
| Half year ended | Ouarter ended | ||||
|---|---|---|---|---|---|
| December 31, 2025 |
December 31, 2024 |
December 31, 2025 |
December 31, 2024 |
||
| (Rupees in thousands)--- | |||||
| Revenue | |||||
| 1,777,075 | 3,052,033 | 840,337 | 1,532,247 | ||
| Cost of sales | (1,700,728) | (2, 854, 084) | (828, 846) | (1, 433, 495) | |
| Gross profit | 76,347 | 197,949 | 11,491 | 98,752 | |
| General and administrative expenses | (95, 190) | (82, 333) | (53, 131) | (38, 041) | |
| Selling and distribution expenses | (47, 696) | (53, 517) | (25, 943) | (28, 505) | |
| Other operating expenses | (10, 895) | (5,887) | (7, 534) | (3,025) | |
| Other income | 21,316 | 14,551 | 6,353 | 5,710 | |
| (132, 465) | (127, 186) | (80, 255) | (63, 861) | ||
| Operating (loss)/profit | (56, 118) | 70,763 | (68, 764) | 34,891 | |
| Gain on disposal of assets classified as held for sale | 505,660 | ||||
| Financial charges | (60, 414) | (100, 634) | (25, 884) | (48, 748) | |
| Profit/(loss) before levy and taxation | 389,128 | (29, 871) | (94, 648) | (13, 857) | |
| Levy | (66, 152) | (38, 341) | (54, 372) | (19, 379) | |
| Profit/(loss) before taxation | 322,976 | (68, 212) | (149, 020) | (33, 236) | |
| Taxation | (193, 521) | (193, 521) | |||
| Profit/(loss) for the period | 129,455 | (68, 212) | (342, 541) | (33, 236) | |
Earning/(loss) per share - basic and diluted (Rupee)
| 0.65 | (0, 34) | 171 | (0, 17) |
|---|---|---|---|
Registered Office & Corporate Department
LAKSON SQUARE, BUILDING NO.2, SARWAR SHAHEED ROAD, KARACHI-74200, PAKISTAN.
MERIT PACKAGING LIMITED
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2025
| December 31, 2025 (Un-audited) ---(Rupees in thousands)-- |
June 30, 2025 (Audited) |
|||
|---|---|---|---|---|
| ASSETS | ||||
| NON-CURRENT ASSETS | ||||
| Property, plant and equipment | ||||
| Operating fixed assets | 2.285.225 | 2,349,701 | ||
| Capital work in progress | 5,310 | 11,949 | ||
| 2,290,535 | 2,361,650 | |||
| Right-of-use assets | 118,794 | 125,852 | ||
| Intangible assets | 15 | 61 | ||
| Long-term deposits | 12,249 | 12,249 | ||
| 2,421,593 | 2,499,812 | |||
| CURRENT ASSETS | ||||
| Stores and spares Stock-in-trade |
160,626 | 97,483 | ||
| Trade debts | 418,870 | 545,652 | ||
| Loans and advances | 658,029 | 792,651 | ||
| Trade deposits and short-term prepayments | 83,755 | 39,753 | ||
| Other receivables | 72,259 | 71,609 | ||
| Tax refund due from Government authorities | 24,402 | 23,676 | ||
| Taxation - net | 306,643 | 322,095 | ||
| Cash and bank balances | 121,469 16,852 |
127,015 2,657 |
||
| 1,862,905 | 2,022,589 | |||
| Assets classified as held for sale | 494,341 | |||
| TOTAL ASSETS | 4,284,498 | 5,016,742 | ||
| EQUITY AND LIABILITIES SHARE CAPITAL AND RESERVES Authorized share capital |
200,000,000 (June 30, 2025: 200,000,000) ordinary shares of Rs. 10/- each | 2,000,000 | 2,000,000 | |
| Issued, subscribed and paid-up capital | 199,958,427 (June 30, 2025: 199,958,427) ordinary shares of Rs. 10/- each | 1,999,584 | 1,999,584 | |
| Capital reserves | ||||
| Surplus on revaluation of property, plant and equipment | 705,305 | 942,873 | ||
| Share Premium Reserve | 298,325 | 298,325 | ||
| Revenue reserves | ||||
| General reserves | 106,800 | 106,800 | ||
| Accumulated losses Equity portion of loan - associated company |
(1, 399, 643) | (1,766,666) | ||
| 691,149 2,401,520 |
691,149 2,272,065 |
|||
| NON-CURRENT LIABILITIES | ||||
| Sub-ordinated loan | 250,000 | 250,000 | ||
| Long-term financing | ||||
| Lease liability | 130,223 | 133,617 | ||
| 380,223 | 383,617 | |||
| CURRENT LIABILITIES | ||||
| Trade and other payables | 1,308,332 | 1,445,040 | ||
| Mark-up accrued | 10,431 | 21,952 | ||
| Short-term borrowings | 177,421 | 841,327 | ||
| Current portion of long-term financing | 46,824 | |||
| Current portion of lease liability | 6,441 | 5,787 | ||
| Un-claimed dividend | 129 1,502,755 |
129 2,361,059 |
||
| TOTAL EQUITY AND LIABILITIES | 4,284,498 | 5,016,742 | ||
CONTINGENCIES AND COMMITMENTS
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MERIT PACKAGING LIMITED
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE HALF YEAR ENDED DECEMBER 31, 2025
MERIT PACKAGING LIMITED
Registered Office & Corporate Department
LAKSON SQUARE, BUILDING NO.2, SARWAR SHAHEED ROAD, KARACHI-74200, PAKISTAN.
| Capital Reserves | Revenue Reserves | ||||||
|---|---|---|---|---|---|---|---|
| Issued, subscribed and paid-up capital |
and equipment property, plant revaluation of Surplus on |
Share premium reserve |
General reserve | Accumulated losses |
Equity portion of associated loan from company |
Total | |
| --- Rupees in thousands -- | |||||||
| Balance as at July 01, 2024 (Audited) | 1,999,584 | 973,961 | 298,325 | 106,800 | (1, 244, 708) | 789,950 | 2,923,912 |
| Total comprehensive income for the period ended December 31, 2024 Loss for the period |
î | (68, 212) | (68, 212) | ||||
| Transferred from revaluation surplus on property, plant and equipment on account of incremental depreciation |
(32, 196) | 32,196 | |||||
| Equity portion of loan Transaction with owners |
, | (98, 801) | (98, 801) | ||||
| Balance as at December 31, 2024 (Unaudited) | 1,999,584 | 941,765 | 298,325 | 106,800 | (1, 280, 724) | 691,149 | 2,756,899 |
| Balance as at July 01, 2025 (Audited) | 1,999,584 | 942,873 | 298,325 | 106,800 | (1,766,666) | 691,149 | 2,272,065 |
| on account of Total comprehensive income for the period ended December 31, 2025 Transferred from revaluation surplus on property, plant and equipment Profit for the period |
129,455 | 129,455 | |||||
| Disposal during the period including asset held for sale Incremental depreciation |
(27, 718) (209, 850) |
27,718 209,850 |
|||||
| (237, 568) | 237,568 | ||||||
| Balance as at December 31, 2025 (Unaudited) | 1,999,584 | 705,305 | 298,325 | 106,800 | (1,399,643) | 691,149 | 2,401,520 |
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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 CONDENSED INTERIM STATEMENT OF CASH FLOWS (UNAUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025
| December 31, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| ----Rupees in thousands---- | ||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Cash (used in)/generated from operations | 76,769 | 139,760 |
| Income taxes paid | (254, 126) | (16, 395) |
| Finance cost paid | (56, 674) | (88, 426) |
| Net cash flows (used in)/generated from operating activities | (234, 031) | 34,939 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Capital expenditures | (25,217) | (141, 410) |
| Proceeds from disposal of operating fixed asset | 2,173 | |
| Proceeds from disposal of non-current assets held for sale | 1,000,000 | |
| Net cash generated from/ (used in) investing activities | 976,956 | (141, 410) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Repayment of long-term financing - net | (46, 824) | (46, 824) |
| Payment against lease liability | (18,000) | (21,000) |
| Net cash used in financing activities | (64, 824) | (67, 824) |
| Net increase/(decrease) in cash and cash equivalents | 678,101 | (174, 295) |
| Cash and cash equivalents at beginning of the period | (838, 670) | (619,002) |
| Cash and cash equivalents at end of the period | (160, 569) | (793, 297) |
| CASH AND CASH EQUIVALENTS: | ||
| Cash and bank balances | 16,852 | 4,125 |
| Short-term borrowings | (177, 421) | (797, 422) |
| (160, 569) | (793, 297) | |
PHONE: 3840 0000 FAX: 92-21-3568 6571 & 3568 3410