CORPORATE INFORMATION

Board of Directors
Mr. Zaid Ghani Mr. Imtiaz Ahmad Khan Mr. Anwaar Ahmad Khan
Chairman Chief Executive Officer Deputy Chief Executive Officer

Mr. Aftab Ahmed Khan Mrs. Reema Anwaar Mr. Junaid Ghani
Deputy Chief Executive Officer Director Director

Mr. Jubair Ghani Mr. Hamza Ghani Mr. Moeez Ghani

Director Director Director

Mr. Ibrahim Ghani Mr. Awais Ahmed Mr. Shamim Ahmed

Director Director Director

Mr. Zubair Shamim Mr. Nouman Shaukat Mr. Waqar Zafar

Director Director Director

Mr. Khalid Aslam Butt Mr. Muhammad Zubair Syed Wasi Haider
Director Director Director (Nominee EOBI)

Audit Committee
Mr. Awais Ahmed Mr. Zaid Ghani Mr. Ibrahim Ghani
Chairman Member Member

HR & R Committee
Mr. Awais Ahmed Mr. Anwaar Ahmad Khan Mr. Zaid Ghani
Chairman Member Member

CHIEF FINANCIAL OFFICER COMPANY SECRETARY

Mr. Umer Farooq Khan Hafiz Muhammad Imran Sabir
AUDITORS LEGAL ADVISOR
KPMG Taseer Hadi & Co., Chartered Accountants Ally Law Associates

SHARE REGISTRAR Wings Arcade, 1-K Commercial Model Town, Lahore, Pakistan
Corplink (Pvt) Ltd Phones : (042) 35916714, 35916719 Fax : (042) 35869037

BANKS
Askari Bank Ltd, IBD Albaraka Islamic Bank Allied Bank Ltd, IBD
Bank Islami Pakistan Ltd Bank Alfalah Ltd, IBD Bank Al-Habib Ltd, IBD
Habib Metropolitan Bank Ltd, IBD Faysal Bank Ltd, IBD First Women Bank Ltd
Soneri Bank Ltd, IBD MCB Islamic Bank Ltd National Bank of Pakistan, IBD
Dubai Islamic Bank Ltd Habib Bank Ltd, IBD The Bank of Punjab, IBD
United Bank Ltd (Ameen) SAMBA Bank Ltd Meezan Bank Ltd

Third Quarter Financial Statements’ 2024-25 01

 40-L Model Town Extension, Lahore, Pakistan
(042) 111 949 949 (042) 35172263
HEAD OFFICE
& REGISTERED info@[Link] [Link]
OFFICE

12 D/5, Chandni Chowk, KDA Scheme No. 7-8, Karachi-74000

(021) 111 949 949 (021) 34926349
MARKETING marketing@[Link]
OFFICE

GGL Plant-1 & Regional Marketing Office-North

22 km Haripur Taxila Road, (From Haripur) Tahsil & District
Haripur (KPK)
GGL
PLANT-1 (0995) 639236-40 & (0995) 539063-65 (0995) 639067

GGL Plant 2
H-15, Landhi Industrial Area, Karachi-74000
GGL (021) 35020761-63 (021) 35020280
PLANT-2

GGL Plant 3
29 KM, Lahore Sheikhupura Road, District Sheikhupura
GGL (056) 3406810-11 (056) 3406795 ghanifloat@[Link]
PLANT-3

02 Ghani Glass Limited

 DIRECTORS' REPORT
Dear Shareholders,

Assalam-o-Alaikum wa Rahmatullah wa Barakatohu

The Board of Directors is pleased to present the unaudited Financial Statements of Ghani Glass Limited for the third
quarter and nine months ended March 31, 2025.

During the nine months ended March 31, 2025, the company earned Net revenue of Rupees 33.5 billion as compared to
Rupees 35.9 billion for the corresponding period of the last year. Gross Profit also slightly declined to Rupees 9.3 billion
comparing with last year's number of the corresponding period of Rupees 9.7 billion. The company registered Net Profit
of Rupees 4.4 billion as compared to Rupees 4.9 billion for the period under review of the last year. The tight financial
results of the Company, from top to bottom, majorly attributed to sluggish construction activity, high gas prices and high
taxes etc.

Earning per shares also decreased from Rupees 4.93 to Rupees 4.39.

Financial Performance
Nine Months ended
March 31, 2025 March 31, 2024
(Rupees in million)

Net Revenue 33,458 35,956

Gross Profit 9,344 9,721
Profit after Tax 4,385 4,925
Earning per Share (Rupees) 4.39 4.93

Pakistan's economic outlook appears optimistic as it is moving in positive direction. Macroeconomic indicators are
showing affirmative trajectory and key sectors are showing recovery after a period of extraordinary difficulty. The long-
term sustainability of Pakistan's recovery hinges on a deliberate shift in its development paradigm. First time, remittance
inflows had reached a historic high of 4 billion dollars in March which when projected for the current year would give a total
of 38 billion dollars, widening the gap with export revenue, the other major desirable form of earning foreign exchange.
Pakistan's current account posted a record all-time high monthly surplus of $1.2 billion in March 2025 (229 percent
increase). Cumulatively the country's current account posted a surplus of $1.859 billion in the first nine months (July-
March) of this fiscal year (FY25) compared to a deficit of $1.652 billion in the same period of last fiscal year (FY24). CPI for
Mar-2025 clocked in at 0.7%, lowest since 1965. The main contributor to this was the significant decrease in food
inflation, which declined 5.1% YoY in Mar-2025. The stock market has entered a phase of consistent recovery, and the
international credit rating agencies have acknowledged Pakistan's improved fiscal conduct and macroeconomic stability
by revising outlooks upwards.

Future outlook

Pakistan economy has started recovery but some economic challenges including sluggish economic activity, slow
moving construction activities, unprecedented climate change, high debt payments, surging gas prices and input costs
are still there. However, the management is fully committed towards managing these challenges and delivering
sustainable profitable growth capitalizing our strength, proved capabilities and operational excellence with continuous
Excellence mindset.

Acknowledgment

The Board and the management would like to thank senior executives of Pharmaceutical, food and beverage industries
for their continuous support and confidence on our quality products. Thanks are also due to our dealers and customers of
float glass for their trust reposed on our quality products. The Board also appreciates the cooperation of our suppliers,
contractors and bankers.

The Board acknowledges and puts on record its sincere appreciation for all employees of the Company for their hard
work, commitment and loyalty.

On behalf of the Board of Directors

Lahore: April 29, 2025 Imtiaz Ahmad Khan Anwaar Ahmad Khan
Chief Executive Officer Director

Third Quarter Financial Statements’ 2024-25 03

 CONDENSED INTERIM
STATEMENT OF FINANCIAL POSITION (Un-audited)
As at 31 March 2025
(Un-audited) (Audited)
31 March 30 June
2025 2024
ASSETS Note Rupees Rupees
Non-Current assets

Property, plant and equipment 5 19,008,111,896 18,092,696,044

Intangible assets 13,164,616 14,713,938
Investment in associate 6 2,796,229,462 2,958,625,233

21,817,505,974 21,066,035,215
Current assets

Stores, spares and other consumables 1,431,302,252 1,370,979,368

Stock-in-trade 15,058,325,859 16,127,175,339
Trade debts 5,995,673,157 5,903,662,614
Advances & deposits 2,848,269,910 1,811,428,564
Tax refunds due from government 1,648,994,475 1,271,053,477
Short-term investment 88,933,603 97,026,921
Other receivables 727,828,089 324,498,116
Cash and bank balances 1,281,459,205 1,591,609,097
29,080,786,550 28,497,433,496

50,898,292,524 49,563,468,711
EQUITY AND LIABILITIES

Share capital and reserves

Authorized share capital

1,000,000,000 (30 June 2024: 1,000,000,000) ordinary shares
of Rs. 10 each 10,000,000,000 10,000,000,000

Issued, subscribed and paid up capital 9,997,148,380 9,997,148,380

Reserves 27,351,433,346 23,954,832,129

Shareholder's equity 37,348,581,726 33,951,980,509

Non-current liabilities

Deferred taxation 2,056,255,873 2,274,170,438

Lease Liabilities 39,792,183 65,018,284
2,096,048,056 2,339,188,722
Current liabilities

Trade and other payables 10,930,699,677 12,663,761,957

Contract liabilities 467,941,856 560,577,067
Unclaimed dividends 22,996,518 22,420,943
Current portion of lease Liabilities 32,024,691 25,539,513
11,453,662,742 13,272,299,480
Contingencies and commitments 7.1 - -
50,898,292,524 49,563,468,711

The annexed notes from 1 to 11 form an integral part of these condensed interim financial statements.

_____________ _____________ _____________

Lahore Chief Executive Officer Director Chief Financial Officer

04 Ghani Glass Limited

 CONDENSED INTERIM
STATEMENT OF PROFIT OR LOSS (Un-audited)
For the period ended 31 March 2025

Nine months ended Quarter ended

31 March 31 March 31 March 31 March
2025 2024 2025 2024
-------------------------------------------Rupees----------------------------------------
Note

Revenue 8 33,457,527,294 35,955,920,220 11,499,565,910 11,432,850,210

Cost of sales (24,113,471,775) (26,235,357,724) (8,244,907,058) (8,266,281,100)

Gross profit 9,344,055,519 9,720,562,496 3,254,658,852 3,166,569,110

General and administrative expenses (1,646,529,261) (1,649,565,531) (438,431,314) (507,001,828)

Selling and distribution expenses (2,257,954,385) (2,275,345,376) (824,118,957) (740,531,354)
Other expenses (411,383,291) (441,576,159) (143,719,969) (141,792,081)
Exchange (loss) (46,976,958) (131,956,541) (3,642,818) (43,116,143)
Impairment loss on financial assets (34,345,747) (36,465,438) (2,641,984) (5,209,348)
Other income 139,736,401 124,936,998 56,580,345 7,059,300
(4,257,453,241) (4,409,972,047) (1,355,974,697) (1,430,591,454)
Operating profit 5,086,602,278 5,310,590,449 1,898,684,155 1,735,977,656

Finance costs (86,813,892) (77,738,150) (25,625,051) (31,645,753)

Share of profit on investment in
associate - net of tax 6 503,928,045 725,226,019 188,739,383 224,249,739
Profit before taxation 5,503,716,431 5,958,078,318 2,061,798,487 1,928,581,642
Taxation (1,118,876,164) (1,033,020,932) (416,637,717) (221,117,089)
Profit after taxation 4,384,840,267 4,925,057,386 1,645,160,770 1,707,464,553

Earnings per share - basic and diluted 4.39 4.93 1.65 1.71

The annexed notes from 1 to 11 form an integral part of these condensed interim financial statements.

_____________ _____________ _____________

Lahore Chief Executive Officer Director Chief Financial Officer

Third Quarter Financial Statements’ 2024-25 05

 CONDENSED INTERIM
STATEMENT OF COMPREHENSIVE INCOME (Un-audited)
For the period ended 31 March 2025

Nine months ended Quarter ended

31 March 31 March 31 March 31 March
2025 2024 2025 2024
--------------------------------------------Rupees--------------------------------------------

Profit for the period 4,384,840,267 4,925,057,386 1,645,160,770 1,707,464,553

Other comprehensive income:

Items that may be reclassified to

profit or loss in subsequent years:

Investment in associate
- Exchange translation - net of tax 11,475,788 (43,527,400) 9,570,842 (2,517,090)

Total comprehensive income for the period 4,396,316,055 4,881,529,986 1,654,731,612 1,704,947,463

The annexed notes from 1 to 11 form an integral part of these condensed interim financial statements.

_____________ _____________ _____________

Lahore Chief Executive Officer Director Chief Financial Officer

06 Ghani Glass Limited

 Capital Reserves Revenue Reserve
Share Reserve Merger Share Exchange Unappropriated
capital created under reserve premium translation profit Total
scheme of and other
------------------------------------------------------------------------------------- Rupees--------------------------------------------------------------------------------------

Balance as on 01 July, 2023 9,997,148,380 365,464,087 427,419,290 75,000,000 1,667,735,746 15,747,788,802 28,280,556,305

Total comprehensive income

Profit for the year - - - - - 6,750,221,198 6,750,221,198

Other comprehensive income/(loss) - - - - (79,082,156) - (79,082,156)
- - - - (79,082,156) 6,750,221,198 6,671,139,042

Transaction with members of the company

Final dividend for the year ended 30 June 2023 @ Rs.1.00 per share - - - - - (999,714,838) (999,714,838)
Adjustment on account of legal reserve of an associate - - - - 46,150,810 (46,150,810) -

Balance as at 30 June 2024 9,997,148,380 365,464,087 427,419,290 75,000,000 1,634,804,400 21,452,144,352 33,951,980,509

Total comprehensive income

Profit for the period - - - - - 4,384,840,267 4,384,840,267

Other comprehensive income/(loss) - - - - 11,475,788 - 11,475,788
- - - - 11,475,788 4,384,840,267 4,396,316,055

Transaction with members of the company

Final cash dividend for the period June 2024 @ Rs.1.00 per share - - - - - (999,714,838) (999,714,838)

Balance as at 31 March 2025 9,997,148,380 365,464,087 427,419,290 75,000,000 1,646,280,188 24,837,269,781 37,348,581,726

The annexed notes from 1 to 11 form an integral part of these condensed interim financial statements.

_____________ _____________ _____________

Lahore Chief Executive Officer Director Chief Financial Officer
STATEMENT OF CHANGES IN EQUITY (Un-audited)
CONDENSED INTERIM

For the period ended 31 March 2025

Third Quarter Financial Statements’ 2024-25

07
 CONDENSED INTERIM
STATEMENT OF CASH FLOW (Un-audited)
For the period ended 31 March 2025
Nine months ended
31 March 2025 31 March 2024
Rupees Rupees
Cash flows from operating activities
Profit before taxation 5,503,716,431 5,958,078,318
Adjustments for non cash and other items:
- Depreciation 1,365,769,849 1,351,464,357
- Amortization 1,549,322 1,549,322
- Fair value (gain)/ loss on short term investment 8,093,318 (3,593,640)
- Finance costs 86,813,892 56,278,075
- Allowance for expected credit losses 34,345,747 36,465,438
- Impact of discounting and unwinding of interest on GIDC - 21,460,075
- Provision /(reversal) for stores & stock in trade - (57,737,709)
- Share of profit of associate (503,928,045) (725,226,019)
- Gain on sale of property, plant & equipment (221,576) (3,841,057)
- Provision for Workers' Profit Participation Fund 298,103,834 319,982,724
- Provision for Workers' Welfare Fund 113,279,457 121,593,435
- Dividend income (275,000) (302,500)
- Exchange fluctuation - net 46,976,958 131,956,541
1,450,507,756 1,250,049,042
Operating profit before working capital changes 6,954,224,187 7,208,127,360
(Increase)/decrease in current assets:
- Stores , spares and other consumable (60,322,884) (50,943,678)
- Stock in trade 1,068,849,480 (3,807,511,758)
- Trade debtors (126,356,290) (2,440,478,982)
- Other receivables 57,011 216,247,517
- Advances and deposits (1,034,569,081) 222,481,624
Increase/(decrease) in current liabilities:
- Contract liabilities (92,635,211) (11,953,606)
- Trade and other payables (1,764,950,630) 2,241,845,535
Cash used in working capital changes (2,009,927,605) (3,630,313,348)

Cash generated from operations 4,944,296,582 3,577,814,012

Finance cost paid (83,357,643) (51,664,212)
Income Taxes paid - net (1,718,556,989) (1,219,073,836)
Worker's Welfare Fund and Workers' Profit Participation Fund paid (426,471,899) (236,436,668)
(2,228,386,531) (1,507,174,716)
Net cash generated from operating activities
2,715,910,051 2,070,639,296
Cash flows from investing activities
Fixed capital expenditures (2,298,291,611) (1,975,412,189)
Proceeds from sale of fixed assets 17,327,486 20,534,186
Short term investments 275,000 302,500
Dividend received from associate 278,237,882 575,289,345
Long term deposits and prepayments (2,272,265) (7,620,290)
Net cash used in investing activities (2,004,723,508) (1,386,906,448)

Payment of liability against right to use assets (22,197,172) (14,425,299)

Dividend paid (999,139,263) (999,713,338)
Net cash used in financing activities (1,021,336,435) (1,014,138,637)
Net (decrease) in cash and cash equivalents (310,149,892) (330,405,789)
Cash and cash equivalents at the beginning of the period 1,591,609,097 1,738,070,244
Cash and cash equivalents at the end of the period 1,281,459,205 1,407,664,455
The annexed notes from 1 to 11 form an integral part of these condensed interim financial statements.

_____________ _____________ _____________

Lahore Chief Executive Officer Director Chief Financial Officer
08 Ghani Glass Limited
 CONDENSED INTERIM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
1 LEGAL STATUS AND NATURE OF BUSINESS

1.1 Ghani Glass Limited ("the Company") was incorporated in Pakistan in 1992 as a limited liability company under the
Companies Ordinance, 1984 (now Companies Act, 2017). Its shares are quoted on Pakistan Stock Exchange.

The principal activity of the Company is to engage in the business of manufacturing and sale of glass containers and float
glass. Following are the business units of the Company including production facilities, along with their respective locations:

- Head office and Registered office: 40 - L, Model Town Extension, Lahore

- Marketing Office: 12 D/5 Chandani Chowk, KDA Scheme No. 7-8, Karachi
- Plant 1 and Regional Marketing Office (North): 22 Km Haripur Taxila Road, District Haripur
- Plant 2: H-15 Landhi Industrial Area, Karachi
- Plant 3: 29 Km Lahore Sheikhupura Road, District Sheikhupura
- Plant 4: 50 Km Lahore Gujranwala road, Tehsil Kamonke, District Gujranwala

2 BASIS OF PREPARATION

2.1 Statement of compliance

These condensed interim financial statements have been prepared in accordance with the accounting and reporting
standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards as applicable in
Pakistan for interim financial reporting comprise of:

- International Accounting Standard (IAS) 34, Interim Financial Reporting, issued by the International Accounting
Standard Board (IASB) as notified under the Companies Act, 2017; and

- Provisions of and directives issued under the Companies Act, 2017.

Where the provisions of and directives issued under Companies Act, 2017 differ with the requirements of IAS-34, the
provisions of and directives issued under Companies Act, 2017 have been followed.

2.1.1 This interim financial information of the Company for the nine month period ended 31 March 2025 has been prepared in
accordance with the requirements of the International Accounting Standard (IAS) 34, "Interim Financial Reporting" and
provisions of and directives issued under the Companies Act, 2017.

2.2 These condensed interim financial statements do not include all the information and the disclosures required in the annual
financial statements and should be read in conjunction with annual audited financial statements of the Company for the year
ended 30 June 2024.

2.3 These condensed interim financial statements are unaudited are being submitted to the shareholders as required under
Section 237 of the Companies Act, 2017 and the Listing Regulations of Pakistan Stock Exchange Limited.

3 SIGNIFICANT ACCOUNTING POLICIES

The accounting policies and methods of computation adopted in the preparation of these condensed interim financial
statements are the same as those applied in the preparation of the financial statements for the year ended 30 June 2024.

4 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

The preparation of condensed interim financial statements requires management to make judgments, estimates and
assumptions that affect the application of accounting policies and reported amount of assets and liabilities, income and
expenses. Actual results may differ from these estimates. The significant judgments made by management in applyingthe
Company's accounting policies and the key sources of the estimation are the same as those that applied to the financial
statements for the year ended 30 June 2024.

Provision in respect of taxation, Workers' Profit Participation Fund and Workers' Welfare Fund in these condensed interim
financial statements is estimated and this is subject to final adjustment in the annual financial statements.

Third Quarter Financial Statements’ 2024-25 09

 Un-audited Audited
31 March 2025 30 June 2024
5 Property, plant and equipment Note Rupees Rupees
Operating assets 5.1 12,648,074,455 13,436,595,791
Capital work in progress 5.2 6,360,037,441 4,656,100,253
19,008,111,896 18,092,696,044
5.1 Operating assets

Net book value at beginning of the period 13,436,595,791 14,251,898,291

Additions during the period 594,354,423 1,033,469,087
Right of use asset - 37,182,240
Disposals/transfer during the period (at book value) (17,105,910) (57,591,488)
Depreciation charged during the period (1,365,769,849) (1,828,362,339)
12,648,074,455 13,436,595,791
5.2 Capital work in progress

Plant and machinery 1,684,817,814 920,204,292

Civil works 217,359,440 43,326,318
Capital store 2,664,723,147 1,492,528,572
Capital store in-transit 1,736,800,243 2,143,625,282
Advances 56,336,797 56,415,789
6,360,037,441 4,656,100,253
6 Investment in associate
Rak Ghani Glass LLC

RAK Ghani Glass LLC, a limited liability company registered with the Ras Al Khaimah Investment Authority in United Arab
Emirates engaged in the business of container glass manufacturing.
Un-audited Audited
31 March 2025 30 June 2024
Note Rupees Rupees
21,971 (30 June 2024:21,971) fully paid ordinary
shares of AED 1,000 each 6.1 664,050,766 664,050,766
6.1 Movement in equity instruments of associated
company is as follows:
Company's share of profit - post acquisition
As at 01 July 2,294,574,467 2,254,444,281
Share of total comprehensive income:
Profit for the period 503,928,045 922,939,581
Exchange translation impact 15,301,050 (105,442,875)
Dividend for the period (681,624,866) (777,366,520)
Total comprehensive income for the period (162,395,771) 40,130,186
Balance at end of the period 2,796,229,462 2,958,625,233

7 Contingencies and commitments

7.1 Contingencies
7.2 There has been no significant change in the status of contingencies as reported in the preceding published
annual financial statements of the Company for the year ended 30 June 2024.
7.3 Aggregate amount of bank guarantees issued by banks on behalf of the Company outstanding as at 31 March
2025 amounts to Rs. 2,587.363 million (30 June 2024: Rs. 3,157.36 million).
7.4 Letters of credit for import of materials and stores outstanding as at 31 March 2025 amounts to Rs. 1,242.319
million (30 June 2024: Rs. 1,426.34 million).

10 Ghani Glass Limited

 Nine months ended - unaudited Quarter ended - unaudited
31 March 2025 31 March 2024 31 March 2025 31 March 2024
- - - - - - - - - - - - - - - - - - - - - - - - - Rupees - - - - - - - - - - - - - - - - - - - - - - - - -
8 Revenue
Local sales 35,851,144,179 34,650,424,391 12,187,790,337 10,919,593,596
Export sales 3,350,425,204 6,850,986,323 1,303,628,148 2,235,912,880
39,201,569,383 41,501,410,714 13,491,418,485 13,155,506,476

Less: Sales tax (5,561,233,888) (5,521,817,505) (1,919,676,096) (1,710,754,340)

Trade Discounts (182,808,201) (23,672,989) (72,176,479) (11,901,926)
(5,744,042,089) (5,545,490,494) (1,991,852,575) (1,722,656,266)
33,457,527,294 35,955,920,220 11,499,565,910 11,432,850,210
9 Transactions with related parties
The related parties comprise of associated Company. Other related party comprises of staff retirement fund, directors and
key management personnel and their associates. Balances with related parties are disclosed elsewhere in these condensed
interim financial statements and transactions with related parties have been given below:
Nine month ended - unaudited
Related party Nature of transactions 31 March 2025 31 March 2024
Rupees Rupees

Ghani Value Glass Limited Sales 1,642,727,521 1,571,054,343

Purchases 75,913,827 52,787,947
Others expenses-net 14,377,456 30,338,892
RAK Ghani Glass LLC Dividend received 278,237,882 575,289,345
Purchases - 4,262,500
Others expenses-net 13,066,769 12,974,003
Ghani Ceramics Limited Sales 13,693,645 174,237
Purchases - 5,583,821
Others expenses-net 26,550,310 7,540,873
Ghani Metal & Rubber Industries Others expenses-net 816,170 228,260
Ahmad Brothers materials [Link]. Purchases 1,402,611,379 232,425,087
Others expenses-net 18,650,744 4,142,838
Health Tek (Private) Limited Sales 21,415,302 20,329,637
Sami Pharmaceutical (Private) Ltd. Sales 519,184,779 453,711,219
Provident fund Payment to provident fund 357,763,344 148,947,330
Ghani Foundation Donation expense 773,637,590 844,058,438

Key Management Personnel

Key management personnel Salary and Other Benefits 874,394,103 844,383,934
'Key management personnel are those persons having authority and responsibility for planning, directing and controlling the
activities of the entity. The Company considers all members of their management team, including Chief Executive Officer
and Directors to be its key management personnel.
10 Date of authorization
These unauditedcondensed interim financial information for the period ended 31 March 2025 was authorized for issue by the
Board of Directors on April 29, 2025.
11 General
11.1 Figures have been rounded off to nearest rupee.

_____________ _____________ _____________

Lahore Chief Executive Officer Director Chief Financial Officer
Third Quarter Financial Statements’ 2024-25 11
 2025 31 2024 31

33,458 35,956
9,344 9,721
4,385 4,925
4.39 4.93

12 Ghani Glass Limited