Condensed interim unconsolidated statement of cash flows (un-audited)

For the period ended December 31, 2024

December December
2024 2023
(Rupees in thousand)

Cash flows from financing activities

Long term borrowing obtained - 127,662
Long term borrowing repaid (80,019) (14,551)
Repayment of lease liabilities 3,223 (5,851)
Loan (repaid) / received from director - (224,000)
Dividend paid - (617)
Short term borrowings - net (264,034) (154,262)
Net cash used in financing activities (340,830) (271,619)

Net increase / (decrease) in cash and cash equivalents 1,145,014 (869,362)

Cash and cash equivalents at beginning of the period (3,400,944) (4,391,492)
Cash and cash equivalents at end of the period 12 (2,255,930) (5,260,854)

The annexed notes 1 to 18 form an integral part of these condensed interim unconsolidated financial statements.

LAHORE Syed Sheharyar Ali Mansoor Murad Syed Shahid Ali

February 26, 2025 Chief Executive Officer Chief Financial Officer Director

Half Yearly Report 2024 15

Notes to the condensed interim unconsolidated financial statements (un-audited)
For the period ended December 31, 2024

1. STATUS AND NATURE OF THE BUSINESS

1.1 Treet Corporation Limited (the “Company”) was incorporated in Pakistan on 22 January 1977 as a Public Limited
Company under the Companies Act, 1913 (now Companies Act, 2017). Its shares are quoted on Pakistan Stock
Exchange. The principal activity of the Company is manufacturing and sale of razors and razor blades along with
other trading activities. The registered office of the Company is situated at 72-B, Industrial Area Kot Lakhpat, Lahore.
The manufacturing facilities of the Company are located at 72-B Kot Lakhpat, Industrial Area, Lahore and at Hali
Road, Hyderabad. Furthermore, Company has its sales warehouses located in Lahore, Quetta and Rawalpindi.

2. BASIS OF PREPARATION

These condensed interim unconsolidated 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 Standards Board (IASB) as notified under the Companies Act, 2017;

- Islamic Financial Accounting Standards (IFAS) issued by the Institute of Chartered Accountants of Pakistan
as notified under the Companies Act, 2017; and

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

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

These condensed interim unconsolidated financial statements comprise the condensed interim unconsolidated
statement of financial position of the Company as at December 31, 2024 and the related condensed interim
unconsolidated statement of profit or loss, condensed interim unconsolidated statement of comprehensive
income, condensed interim unconsolidated statement of changes in equity and condensed interim unconsolidated
statement of cash flows together with the notes forming part thereof, for the period ended on December 31, 2024.

These condensed interim unconsolidated financial statements are being submitted to the shareholders as required
by section 237 of the Companies Act, 2017 and are un-audited but subject to limited scope review by external
auditors as required by Code of Corporate Governance, 2019.

These condensed interim unconsolidated financial statements do not include all of the information required for
annual financial statements and should be read in conjunction with the annual audited unconsolidated financial
statements as at and for the year ended June 30, 2024. Selected explanatory notes are included to explain events
and transactions that are significant to and understanding of the changes in the Company's financial position and
performance since the last financial statements.

Comparative unconsolidated statement of financial position's numbers are extracted from the annual audited
unconsolidated financial statements of the Company for the year ended June 30, 2024, whereas comparative
unconsolidated profit or loss, statement of comprehensive income, cash flow statement and statement of changes
in equity are stated from unaudited condensed interim unconsolidated financial statements of the Company for the
three months and six months period ended December 31, 2023.

16 Treet Corporation Limited

Notes to the condensed interim unconsolidated financial statements (un-audited)
For the period ended December 31, 2024

2.1 BASIS OF MEASUREMENT

These unconsolidated financial statements have been prepared on the historical cost convention except for certain
items of property, plant and equipment which are stated at revalued amounts, investment in listed securities which
are stated at their fair values and recognition of employee retirement benefits which are stated at present value.
The methods used to measure fair values/present values are discussed further in their respective policy notes.

2.2 FUNCTIONAL AND PRESENTATION CURRENCY

These condensed interim unconsolidated financial statements are presented in Pakistan Rupees which is also the
Company's functional currency. All financial information presented in Pakistan Rupees has been rounded to the
nearest thousand of rupees, unless otherwise indicated.

3 ESTIMATES

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

3.1 FINANCIAL RISK MANAGEMENT

The Company’s financial risk management objective and policies are consistent with those disclosed in the annual
audited financial statements of the Company for the year ended June 30, 2024.

3.2 FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

The carrying value of financial assets and financial liabilities reported in these condensed interim financial
statements approximates their fair values.

4 MATERIAL ACCOUNTING POLICY INFORMATION

The accounting policies and the methods of computation adopted in the preparation of these condensed interim
financial information and the significant judgements made by the management in applying the accounting policies
and the key sources of estimation uncertainty are the same as those applied in the preparation of the financial
statements as at and for the year ended June 30, 2024.

Certain new IFRS Standards and amendments to existing IFRS Standards are effective for periods beginning on
or after July 1, 2024, which do not have any impact on the Company's financial reporting except the disclosure of
material accounting policy information rather than significant accounting policies and therefore, have not been
detailed in this condensed interim financial information.

Half Yearly Report 2024 17