Sui Southern Gas : Transmission of Quarterly Report for the Period Ended 31 December 2025

Un-Audited Condensed Interim Monetary Info for the half 12 months ended December 31, 2025

Unconsolidated Condensed Interim Monetary Info (Un-Audited) for the Half 12 months ended December 31, 2025

CORPORATE PROFILE

BOARD OF DIRECTORS

AS ON DECEMBER 31, 2025

Mr. Asif Inam Chairman

Ms. Saira Najeeb Ahmed Director Mr. Usman Ahmed Chaudhry Director Mr. Muhammad Dawood Bazai Director Mr. Navaid Hasib Malik Director

Mr. Zuhair Siddiqui Director Ms. Salima Amin Feerasta Director Mr. Khalid Rahman Director

Mr. Muhammad Akram Director Mr. Muhammad Rehan Hashmi Director Mr. Muhammad Ali Khan Director

ACTING MANAGING DIRECTOR

Mr. Amin Rajput

COMPANY SECRETARY

Mr. Fawad Ahmed Khan

AUDITORS

M/s. BDO Ebrahim & Co., Chartered Accountants

LEGAL ADVISOR

M/s. Liaquat Service provider Associates (LMA)

REGISTERED OFFICE

SSGC Home, Sir Shah Suleman Street

Gulshan-e-Iqbal, Block 14, Karachi – 75300, Pakistan

CONTACT DETAILS

Ph: 92-21-99021000

Fax: 92-21-99224279

Electronic mail: data@ssgc.com.pk Net: https://www.ssgc.com.pk

SHARE REGISTRAR

CDC Share Registrar Providers Restricted, CDC Home, 99-B, Block B, SMCHS,

Essential Sharah-e-Faisal, Karachi. Ph: 021-111-111-500

BOARD OF DIRECTORS’ COMMITTEES

BOARD HUMAN RESOURCE AND REMUNERATION & NOMINATION COMMITTEE

Mr. Asif Inam Chairman

Ms.Saira Najeeb Ahmed Member

Mr. Usman Ahmed Chaudhry Member

Mr. Navaid Hasib Malik Member

Ms. Salima Amin Feerasta Member

Mr. Muhammad Dawood Bazai Member

BOARD FINANCE AND PROCUREMENT COMMITTEE

Ms. Saira Najeeb Ahmed Chairperson

Mr. Khalid Rahman Member

Mr. Navaid H. Malik Member

Mr. Usman Ahmed Chaudhry Member

Ms. Salima Amin Feerasta Member

BOARD AUDIT COMMITTEE

Mr. Khalid Rahman Chairman

Ms. Saira Najeeb Ahmed Member

Mr. Usman Ahmed Chaudhry Member

Ms. Salima Amin Feerasta Member

Mr. Zuhair Siddiqui Member

BOARD RISK MANAGEMENT, LITIGATION AND HSEQA COMMITTEE

Mr. Muhammad Rehan Hashmi Chairman

Mr. Muhammad Dawood Bazai Member

Mr. Navaid Hasib Malik Member

Mr. Khalid Rahman Member

Mr. Muhammad Akram Member

Ms. Salima Amin Feerasta Member

BOARD SPECIAL COMMITTEE ON UFG

Mr. Zuhair Siddiqui Chairman

Mr. Usman Ahmed Chaudhry Member

Mr. Muhammad Dawood Bazai Member

Mr. Muhammad Ali Khan Member

Mr. Muhammad Rehan Hashmi Member

Mr. Muhammad Akram Member

DIRECTORS’ REVIEW

FOR THE HALF YEAR PERIOD ENDED DECEMBER 31, 2025

Monetary Overview

The Board of Administrators of SSGC is happy to current the interim monetary statements for the interval ended December 31, 2025.

Throughout the first half of FY 2025-26, SSGC maintained the already achieved enchancment in operational efficiency and monetary restoration. The Key spotlight was the Revenue regardless of strict challenges because of drastic discount in bulk enterprise (Captive Energy Vegetation) and extra provides to Home Sector in Balochistan because of winter season, reflecting dedication to operational self-discipline and enterprise ethics. The Firm reported a Revenue after Tax of Rs. 290 million and Earnings per Share of Rs. 0.33.

Monetary Highlights

	December 2025	December 2024	Variation
	(Rupees in Million)
Revenue earlier than Taxation	1,241	6,949	(5,708)
Taxation & Levy	(951)	(261)	(690)
Revenue after Taxation & Levy	290	6,688	(6,398)
Earnings per share (Rs.)	0.33	7.59	(7.26)

Regardless of difficult working surroundings, SSGC’s strategic concentrate on enhancing operational efficiencies has led to keep up UFG numbers throughout the interval. . Over the interval from FY 2018-19 to FY 2024-25, SSGC achieved a cumulative discount of roughly 42 BCF in UFG, demonstrating constant efforts to handle operational challenges.

Throughout the interval Jul-Dec 2025, regardless of huge discount in gasoline gross sales to Bulk and Industrial sectors primarily because of the imposition of Off-grid Levy on Captive Energy Vegetation (CPPs) and associated diminished demand, the Firm managed to keep up the volumetric unaccounted-for-Gas (UFG) at par evaluating to corresponding interval final 12 months. Volumetric UFG stood at 14.14 BCF throughout the on the spot interval in comparison with 14.09 BCF in Jul-Dec 2024.

Nevertheless, owing to substantial depletion in indigenous pure gasoline provides resulted in an approximate 10 BCF discount in complete gasoline purchases, and the proportion UFG maintained at 12.27%, in comparison with 11.30% in the similar interval final 12 months. This minor improve is predominantly attributable to a diminished gasoline enter base (denominator impact) reasonably than any deterioration in UFG volumes or system effectivity.

Regardless of above briefed circumstances, administration stays totally dedicated to executing focused discount methods to shut the monetary 12 months with web UFG financial savings throughout each volumetric and proportion metrics.

Recognizing the important impression of UFG on general profitability, the Board of Administrators, in shut coordination with administration, continues to assist the UFG associated initiatives to realize sustainable, long-term loss reductions. Focused measures are being pursued to curtail UFG ranges all through the upcoming quarters of FY 2025-26.

Profitability and Monetary Changes

SSGC’s profitability is primarily derived from the Assured Return Components prescribed by OGRA, which relies on the Weighted Common Price of Capital (WACC). Nevertheless, changes associated to effectivity benchmarks, together with UFG, Human Useful resource Benchmark Prices, and Provision for Uncertain Money owed, impression the backside line.

The Weighted Common Price of Gas (WACOG), largely based mostly on USD, has been a major think about the Firm’s monetary challenges. Throughout the half 12 months, the WACOG elevated by 3.96%, from Rs. 1,107.81 per MCF to Rs. 1,151.64 per MCF, leading to incremental UFG disallowance of Rs. 234 million.

According to OGRA’s dedication for FY 2024-25 issued on October 06, 2025, UFG disallowance absorbed on this quarter amounted to Rs. 6,164 million (December 2024: Rs. 5,251 million). Finance price for the interval was Rs. 8,055 million (December 2024: Rs. 6,713 million).

Operational Enhancements

SSGC’s maintained its steadfast dedication to ship optimum gasoline provides, improved clients satisfaction, and minimizing UFG losses by the following measures:

SSGC has constantly enhanced its organizational construction by implementing measures corresponding to upskilling, coaching, and optimizing useful resource utilization. The Small Enterprise Unit (SBU) mannequin, already operational in Karachi and Balochistan, has now been expanded throughout the franchise space.

The gasoline provides to JJVL plant began in November 2025.

Main Initiatives and Future Outlook

SSGC remained dedicated for reaching operational and monetary sustainability. Key tasks and initiatives embody:

• Rehabilitation: An annual goal of 2,500 km has been set for FY 2025-26, with common month-to-month progress exceeding 200 km underneath shut monitoring of rehabilitation and reinforcement tasks. Throughout the July-December 2025, roughly 1,250 kms of the distribution community has been rehabilitated, masking main areas together with Malir, North Karachi, North Nazimabad, FB Space, and numerous places in Higher Sindh. As well as, decommissioning of outdated rehabilitated networks has been accomplished in Backyard, North Nazimabad, Lyari, and North Karachi, whereas work in Malir is at the moment in progress.

• Gas Theft: Roughly 26,000 theft connections have been disconnected, leading to a cumulative gasoline quantity declare of 3,100 MMCF on Provide Mains. As well as, 50,505 places have been disconnected involving direct theft.

• Stress Administration and Buyer Service: Stress administration has been considerably improved by community segmentation and GIS visibility. Customer support requirements have additionally been enhanced, with 90 % of low-pressure complaints resolved throughout the Jul-Dec of FY 2025.

• Know-how and Innovation: SSGC is repeatedly exploring new initiatives in detecting gasoline leakages with extra precision and accuracy and finding underground buried artificial/ PE pipelines. The commitments have been made for the Cell Gas Leak Detection system with ethane and methane selectivity and artificial pipeline locators, together with the TBS and SMS Automation and Management System (Part II) masking 47 City Border Stations and 16 Gross sales Meter Stations.

• Billing Enhancements: Surveys of suspected gasoline meters have been performed to establish defective Meters and improve home gross sales. As well as, technology-based billing cell dashboards have been developed to watch stay meter readings and analyze billing knowledge, theft detection and meter readers efficiency enabling well timed identification and backbone of shortcomings.

Acknowledgements

The Board extends its gratitude to the shareholders, valued clients, and workers for their unwavering assist and dedication. We additionally acknowledge the steerage and help supplied by the Authorities of Pakistan, the Ministry of Power (Petroleum Division), and OGRA in enabling the Firm to realize its goals.

On behalf of the Board.

Asif Inam

Chairperson

Dated: February 26, 2026

Place: Karachi

M. Amin Rajput

Managing Director

INDEPENDENT AUDITOR’S REVIEW REPORT

TO THE MEMBERS OF SUI SOUTHERN GAS COMPANY LIMITED REPORT ON REVIEW OF CONDENSED UNCONSOLIDATED INTERIM FINANCIAL

STATEMENTS

Introduction

We have now reviewed the accompanying condensed unconsolidated interim assertion of monetary place of SUI SOUTHERN GAS COMPANY LIMITED (“the Firm”) as at December 31, 2025 and the associated condensed unconsolidated interim assertion of revenue or loss, condensed unconsolidated interim assertion of complete earnings, condensed unconsolidated interim assertion of adjustments in fairness, and condensed unconsolidated interim assertion of money flows, and notes to the condensed unconsolidated interim monetary statements for the half 12 months then ended (here-in-after referred as the “condensed unconsolidated interim monetary statements”). Administration is accountable for the preparation and presentation of these condensed unconsolidated interim monetary statements in accordance with the accounting and reporting requirements as relevant in Pakistan for interim monetary reporting. Our accountability is to specific a conclusion on these condensed unconsolidated interim monetary statements based mostly on our assessment.

Scope of Evaluate

Besides as defined in the following paragraph, we performed our assessment in accordance with worldwide Normal on Evaluate Engagements 2410, Evaluate of Interim Monetary Info Carried out by the Impartial Auditor of the Entity. A assessment of interim monetary info consists of making inquiries, primarily of individuals accountable for monetary and accounting issues, and making use of analytical and different assessment procedures. A assessment is considerably much less in scope than an audit performed in accordance with Worldwide Requirements on Auditing and consequently doesn’t allow us to acquire assurance that we might turn into conscious of all vital issues that may be recognized in an audit. Accordingly, we don’t specific an audit opinion.

Foundation for Certified Conclusion

1. As disclosed in notes 7.1 and seven.2 to those condensed unconsolidated interim monetary statements, commerce money owed embody receivables of Rs. 26,289 million and Rs. 21,770 million from Ok-Electrical Restricted (KE) and Pakistan Metal Mills Company (Personal) Restricted (PSML), respectively. Significant slice of such receivables embody overdue quantities, which have been thought of good by administration and labeled as present property in the condensed unconsolidated interim monetary statements. Additional, KE and PSML have disputed the Late Fee Surcharge (LPS) on their respective excellent balances, as disclosed in the notes to the condensed unconsolidated interim monetary assertion as unrecognized LPS. Because of this, administration has determined to acknowledge LPS from these entities on a receipt foundation, efficient July 01, 2012.

   Because of the opposed operational and monetary circumstances of PSML and disputes with KE and PSML with the Firm on LPS, and huge accumulation of their respective overdue quantities, we had been unable to find out the extent to which the complete quantities due from KE and PSML had been prone to be recovered together with the timeframe over which such restoration will probably be made.

2. As disclosed in be aware 3.2 to the condensed unconsolidated interim monetary statements, the Firm was exempt to adjust to the necessities of IFRS 14- Regulatory Deferral Accounts in relation to the preparation of the monetary statements until June 30, 2024 by the Securities and Trade Fee of Pakistan (SECP) vide its letter SMD/PRDD/Comp/(4)/2021/168 dated December 03, 2024. The Firm has taken up the matter with involved authorities to hunt additional exemption from the applicability of the aforesaid IFRS vide its letter MD/MoE/12/2025 dated June 17, 2025. In the absence of the associated exemption for the present reporting interval, the Firm has not complied with the necessities of IFRS 14 together with obligatory accounting changes, presentation and associated disclosure necessities essential to be included in these condensed unconsolidated interim monetary statements. Had the Firm included the consequential accounting results together with associated disclosures, the reported balances of the Tariff adjustment in different receivable and commerce and different payable (be aware 9.1 and 13.3), Tariff adjustment quantity in web income (be aware 17) and Earnings per share (be aware 23) would have required changes, impact of which stays indeterminable.

Certified Conclusion

Besides for the changes, to the condensed unconsolidated interim monetary statements that we’d have turn into conscious of had it not been for the state of affairs described above, based mostly on our assessment, nothing has come to our consideration that causes us to consider that the accompanying condensed unconsolidated interim monetary statements as at and for the half 12 months ended December 31, 2025 are usually not ready, in all materials respects, in accordance with the accounting and reporting requirements as relevant in Pakistan for interim monetary reporting.

Emphasis of Matter

We draw consideration to the following:

1. be aware 16.1 to the condensed unconsolidated interim monetary statements which inter alia describe that the Firm is topic to varied materials litigations and claims pending adjudication in several courts and boards. The end result of these circumstances is unsure and past administration’s management;

2. be aware 13.2 to the condensed unconsolidated interim monetary statements which describe that the Firm has not acknowledged the accrued markup as much as December 31, 2025 amounting to Rs. 428,977 million referring to Authorities Managed E&P Firms based mostly on Authorities recommendation and a authorized opinion.

Our conclusion will not be modified in respect of the above said issues.

Different Matter

Pursuant to the requirement of Part 237 (1) (b) of the Firms Act, 2017, solely cumulative figures for the six-month, offered in the second quarter accounts are topic to a restricted scope assessment by the statutory auditors of the Firm. Accordingly, the figures of the condensed unconsolidated interim assertion of revenue or loss and condensed unconsolidated interim assertion of complete earnings for the three months interval ended December 31, 2025 haven’t been reviewed by us.

The engagement accomplice on the assessment ensuing on this unbiased auditor’s assessment report is Muhammad Nadeem.

Dated: 27 February, 2026 Place: Karachi

UDIN: RR202510110hSnzw2GRq

M/s BDO Ebrahim & Co. Chartered Accountants

CONDENSED UNCONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION

As at December 31, 2025

ASSETS

December 31, June 30,

2025 2025

(Unaudited) (Audited) Notice ——–(Rupees in ‘000)——–

240,226,365	228,656,118
216,488	255,948
91,571	87,460
14,931,715	11,160,804
1,606,973	1,556,387
450,895	518,309
23,944	23,030
257,547,951	242,258,056
5,279,287	4,350,843
3,446,087	3,214,955
269,671	249,970
130,795,274	130,704,773
431,632	1,017,033
865,090	664,034
721,502	690,544
689,603,899	681,401,627
46,502,808	48,768,689
2,057,463	1,187,075
879,972,713	872,249,543
1,137,520,664	1,114,507,599

Non-current property

Property, plant and tools 5

Intangible property Proper of use property Deferred taxation

Long run investments 6

Long run loans Long run deposits

Whole non-current property

Present property

Shops, spares and free instruments Inventory-in-trade

Prospects’ set up work in progress

Commerce money owed 7

Loans and advances

Advances, prepayments and deposits

Curiosity accrued 8

Different receivables 9

Taxation – web

Money and financial institution balances Whole present property Whole property

The annexed notes 1 to 33 type an integral half of these condensed unconsolidated interim monetary statements.

Asif Inam

Chairman

Muhammad Amin Rajput

Managing Director

Wajeeh Uddin Sheikh

CONDENSED UNCONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION

As at December 31, 2025

EQUITY AND LIABILITIES

SHARE CAPITAL AND RESERVES

Authorised Share Capital

Issued, subscribed and paid-up capital

Reserves

Capital Reserves

Surplus on revaluation of property plant and tools Different reserves

Income Reserves

December 31, June 30,

2025 2025

(Unaudited) (Audited) Notice ——–(Rupees in ‘000)——–

10,000,000	10,000,000
8,809,163	8,809,163
59,835,137	59,835,137
234,868	234,868
(60,710,836)	(60,610,719)
8,168,332	8,268,449
8,028,354	11,049,039
41,554,479	39,086,356
10,315,997	9,623,940
381,300	430,722
5,280,222	5,612,881
13,164,405	12,248,838
18,734	11,732
3,566,670	3,610,466
82,310,161	81,673,974
33,687,851	42,354,518
96,681	92,447
622,237	573,451
323,936	334,269
75,679	78,527
900,032,866	895,653,702
109,083,682	82,806,374
603,686	341,320
2,515,553	2,330,568
1,047,042,171	1,024,565,176
1,129,352,332	1,106,239,150
1,137,520,664	1,114,507,599

LIABILITIES

Non-current liabilities

Long run financing 10

Safety deposit Worker advantages

Payable towards switch of pipeline

Deferred credit score 11

Contract liabilities 12

Lease legal responsibility

Long run advances

Whole non-current liabilities

Present liabilities

Present portion of:

Long run financing 10

Payable towards switch of pipeline

Deferred credit score 11

Contract liabilities 12

Lease liabilities

Commerce and different payables 13

Quick time period borrowings 14

Unclaimed dividend

Curiosity accrued 15

Whole present liabilities Whole liabilities

Whole fairness and liabilities

CONTINGENCIES AND COMMITMENTS 16

The annexed notes 1 to 33 type an integral half of these condensed unconsolidated interim monetary statements.

Asif Inam

Chairman

Muhammad Amin Rajput

Managing Director

Wajeeh Uddin Sheikh

CONDENSED UNCONSOLIDATED INTERIM STATEMENT OF PROFIT OR LOSS

For the Half 12 months and Quarter ended December 31, 2025 (unaudited)

Notice

Half 12 months ended Quarter ended December 31, December 31, December 31, December 31,

2025 2024 2025 2024

——————–(Rupees in ‘000)——————–

Income from contracts with clients – Gas gross sales	17	189,106,024	244,091,531	91,204,421	111,150,475
Much less: Tariff changes	18	(7,592,151)	(19,746,570)	2,934,299	(1,793,807)
Web income		181,513,873	224,344,961	94,138,720	109,356,668
Price of income	19	(178,068,004)	(217,022,469)	(90,743,689)	(106,654,856)
Gross Revenue		3,445,869	7,322,492	3,395,031	2,701,812
Administrative and promoting bills		(3,922,408)	(3,614,337)	(2,042,458)	(1,806,850)
Different working bills	20	(165,058)	(496,772)	(147,281)	(828,450)
Allowance for anticipated credit score loss		(6,677,704)	(2,383,832)	(4,091,019)	(593,236)
		(10,765,170)	(6,494,941)	(6,280,758)	(3,228,536)
		(7,319,301)	827,551	(2,885,727)	(526,724)
Different earnings	21	16,616,507	12,835,484	7,485,207	5,859,955
Working revenue		9,297,206	13,663,035	4,599,480	5,333,231
Finance price		(8,055,957)	(6,713,701)	(4,760,540)	(3,298,351)
Revenue / (loss) earlier than levy and taxation Levy		1,241,249	6,949,334	(161,060)	2,034,880
Minimal tax differential		(949,839)	(258,007)	110,065	(217,707)
Ultimate tax		(1,656)	(2,966)	(1,371)	(194)
		(951,495)	(260,973)	108,694	(217,901)
Revenue / (loss) earlier than taxation		289,754	6,688,361	(52,366)	1,816,979
Taxation	22	–	–	–	–
Revenue / (loss) for the interval		289,754	6,688,361	(52,366)	1,816,979
Incomes / (loss) per share – primary and diluted (Rupees)	23	0.33	7.59	(0.06)	2.06

The annexed notes 1 to 33 type an integral half of these condensed unconsolidated interim monetary statements.

Asif Inam

Chairman

Muhammad Amin Rajput

Managing Director

Wajeeh Uddin Sheikh

CONDENSED UNCONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME

For the Half 12 months and Quarter ended December 31, 2025 (unaudited)

Half 12 months ended Quarter ended December 31, December 31, December 31, December 31,

2025		2024	2025	2024
——————–(Rupees in ‘000)——————–
Revenue / (Loss) for the interval	289,754	6,688,361	(52,366)	1,816,979
Different complete earnings
Gadgets that won’t be reclassified to revenue or loss in subsequent durations:
Remeasurement achieve / (loss) on funding by different complete earnings	50,586	198,489	(36,859)	192,845
Whole complete earnings / (loss) for the interval	340,340	6,886,850	(89,225)	2,009,824

The annexed notes 1 to 33 type an integral half of these condensed unconsolidated interim monetary statements.

Asif Inam

Chairman

Muhammad Amin Rajput

Managing Director

Wajeeh Uddin Sheikh

CONDENSED UNCONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY

For The Half 12 months ended December 31, 2025 (unaudited)

Issued, subscribed and paid-up capital	Capital Reserves
	Different Reserves	Surplus on revaluation of property plant and tools

Income Reserves
Different Reserves	Surplus on remeasurement of FVTOCI investments	Gathered losses

–	–	6,688,361
–	198,489	–

—————————————————–(Rupees in ‘000)—————————————————–

Stability as at July 1, 2024 (Audited) Whole complete earnings for the interval	8,809,163	234,868	59,835,137		4,672,533	220,178	(67,854,673)		5,917,206
ended December 31, 2024
Revenue for the interval									6,688,361
Different complete earnings for the interval									198,489
	–	–	–		–	198,489	6,688,361		6,886,850
Stability as at December 31, 2024	8,809,163	234,868	59,835,137		4,672,533	418,667	(61,166,312)		12,804,056
Stability as at July 1, 2025 (Audited)	8,809,163	234,868	59,835,137		4,672,533	417,582	(65,700,833)		8,268,450
Transactions with the homeowners of their capability as homeowners
Ultimate dividend for the fiscal 12 months 2024-25 @ Rs. 0.50 per share	–	–	–		–	–	(440,458)		(440,458)
Whole complete earnings for the interval ended December 31, 2025
Revenue for the interval									289,754
Different complete earnings for the interval									50,586
Whole complete earnings for the interval	–	–	–		–	50,586	289,754		340,340
Stability as at December 31, 2025	8,809,163	234,868	59,835,137		4,672,533 468,168 (65,851,537) 8,168,332

The annexed notes 1 to 33 type an integral half of these condensed unconsolidated interim monetary statements.

Asif Inam

Chairman

Muhammad Amin Rajput

Managing Director

Wajeeh Uddin Sheikh

CONDENSED UNCONSOLIDATED INTERIM STATEMENT OF CASH FLOW

For The Half 12 months ended December 31, 2025 (unaudited)

CASH FLOW FROM OPERATING ACTIVITIES

Half Yr ended December 31, December 31,

2025 2024

Notice ——–(Rupees in ‘000)——–

1,241,249	6,949,334
10,271,833	13,833,067
(8,300,046)	(7,558,542)
(99,127)	(111,260)
(407,994)	(1,534,731)
2,467,209	7,101,785
652,815	352,231
67,394	313,090
(2,456,526)	(9,014,090)
3,436,807	10,330,884
(16,903,024)	(16,262,712)
(67,866)	(67,866)
53,149	39,600
11,039	19,774
(16,906,702)	(16,271,204)
(11,708,333)	(3,839,365)
3,978	–
(115)	(137)
(178,092)	–
(54,463)	(56,901)
(11,937,025)	(3,896,403)
(25,406,920)	(9,836,723)
(81,619,299)	(36,651,604)
(107,026,219)	(46,488,327)

Revenue earlier than taxation

Money generated from operations 24

Monetary fees paid

Worker advantages – post-retirement medical profit Fee for retirement advantages

Long run deposits

Loans and advances to workers Curiosity earnings obtained

Earnings taxes paid

Web money from working actions

CASH FLOW FROM INVESTING ACTIVITIES

Acquisition for property, plant and tools Funds towards switch of pipeline

Proceeds from sale of property, plant and tools Dividend obtained

Web money (utilized in) investing actions

CASH FLOW FROM FINANCING ACTIVITIES

Repayments of loans

Proceeds from client finance Reimbursement of client finance Dividend paid

Reimbursement of lease legal responsibility

Web money (utilized in) financing actions

Web lower in money and money equivalents

Money and money equivalents at starting of the interval

Money and money equivalents at finish of the interval 25

The annexed notes 1 to 33 type an integral half of these condensed unconsolidated interim monetary statements.

Asif Inam

Chairman

Muhammad Amin Rajput

Managing Director

Wajeeh Uddin Sheikh

NOTES TO THE CONDENSED UNCONSOLIDATED INTERIM FINANCIAL STATEMENTS

For The Half 12 months ended December 31, 2025 (unaudited)

1. STATUS AND NATURE OF BUSINESS
   

   1. Sui Southern Gas Firm Restricted (“the Firm”) is a public restricted Firm included in Pakistan underneath the Firms Act, 2017 (repealed Firms Ordinance, 1984) and is listed on Pakistan Inventory Trade. The Firm got here into being on March 30, 1989 after the amalgamation of Karachi Gas Firm, Indus Gas Firm and Sui Gas Transmission Firm. The principle exercise of the Firm is transmission and distribution of pure gasoline in Sindh and Balochistan. The Firm can also be engaged in sure actions associated to the gasoline enterprise together with the manufacturing and sale of gasoline meters, LPG air combine and building contracts for laying of pipelines.

      These condensed unconsolidated interim monetary statements are separate than condensed consolidated interim monetary statements of the Firm through which funding in subsidiary has been accounted for at price much less gathered impairment losses, if any.

      The registered workplace of the Firm is located at SSGC Home, Sir Shah Muhammad Suleman Street, ST-4/B, Block 14, Gulshan- e-Iqbal, Karachi. The meter manufacturing plant is located at its’ registered workplace.

      Area Handle

      Karachi West Plot No. F-36 and F-37 SITE Space, Karachi.

      Karachi East Plot # 21/1, Sector 22, Korangi Industrial Space, Karachi.

      Karachi Central SSGC Karachi Terminal reverse Safari Park Essential College Street, Karachi.

      Hyderabad Reverse New Eidgah, Nationwide Freeway Qasimabad, Hyderabad. Nawabshah Close to Sikandar Artwork Gallery Housing Society, Nawabshah.

      Sukkur Golimar Street, SITE space, Sukkur.

      Larkana Close to Shaikh Zaid Ladies Hospital, Larkana. Quetta Samungli Street, Quetta.

   2. Regulatory framework
      

Beneath the provisions of license given by the Oil and Gas Regulatory Authority (OGRA) underneath the OGRA Ordinance, 2002, the Firm is supplied with a minimal annual return earlier than taxation based mostly on Weighted Common Price of Capital (‘WACC’) from the 12 months 2019 in place of the mounted charge of return of the common working property excluding curiosity, different non-operating bills and non-operating earnings from the reference figures.

The dedication of annual required return is reviewed by OGRA, underneath the phrases of the license for transmission, distribution and sale of pure gasoline, targets and parameters set by OGRA. Earnings earned in extra / (quick) of the above assured return is payable to / recoverable from the Authorities of Pakistan (GoP).

1. BASIS FOR PREPARATION
   

   1. Assertion of compliance
      

      These condensed unconsolidated interim monetary statements have been ready in accordance with the accounting and reporting requirements as relevant in Pakistan for interim monetary reporting. The accounting and reporting requirements as relevant in Pakistan for interim monetary reporting comprise of;

      -Worldwide Accounting Normal (IAS) 34, ”Interim Monetary Reporting”, issued by the Worldwide Accounting Normal Board (IASB) as notified underneath the Firms Act, 2017;

      -Provisions of, directives and notifications issued underneath the Firms Act, 2017; and

      -Provisions of the State-Owned Enterprises (Governance and Operations) Act, 2023 (the SOE Act) and the State-Owned Enterprises Possession and Administration Coverage, 2023 (the SOE Coverage) and the directives issued thereunder.

      The place provisions of directives and notifications issued underneath the Firms Act, 2017 differ with the necessities of IAS 34, the provisions of, directives and notifications issued underneath the Firms Act, 2017 have been adopted.

      In case necessities of the SOE Act or the SOE Coverage or the directives issued thereunder differ from the Firms Act, 2017, the provisions of the SOE Act or the SOE Coverage or the directives issued thereunder shall prevail. Additional, the place the necessities of the SOE Act and the SOE Coverage or the directives issued thereunder differ from the necessities of IAS 34, the provisions of the SOE Act or the SOE Coverage or the directives issued thereunder shall prevail to the extent of such distinction.

      These condensed unconsolidated interim monetary statements are unaudited and are being submitted to the shareholders as required underneath part 237 of the Act. These condensed unconsolidated interim monetary statements don’t embody all the info and disclosures required in the annual unconsolidated monetary statements, and must be learn together with the annual unconsolidated monetary statements of the Firm as at and for the 12 months ended June 30, 2025.

      Nevertheless chosen explanatory notes are included to elucidate occasions and transactions which might be vital to an understanding of the adjustments in the Firm’s monetary place and efficiency since the final unconsolidated annual monetary statements.

   2. Foundation of measurement
      

      These condensed unconsolidated interim monetary statements have been ready underneath the historic price conference except said in any other case.

   3. Purposeful and presentation forex
      

      These condensed unconsolidated interim monetary statements have been offered in Pakistani Rupee, which is the practical and presentation forex of the Firm.

2. MATERIAL ACCOUNTING POLICY INFORMATION
   

   The fabric accounting insurance policies adopted for the preparation of these condensed unconsolidated interim monetary statements are the similar as these utilized in the preparation of the Firm’s annual unconsolidated monetary statements as at and for the 12 months ended June 30, 2025.

   1. Modifications in accounting requirements, interpretations and amendments to accounting and reporting requirements
      

      1. Requirements, amendments and interpretations to accredited accounting requirements which might be efficient throughout the interval ended December 31, 2025
         

         Sure requirements, amendments and interpretations to accredited accounting requirements are efficient for annual accounting durations starting on January 01, 2025, however are thought of to not be related or didn’t have any vital impact on the Firm’s operations and are, subsequently, not detailed in these unconsolidated condensed interim monetary statements.

      2. Requirements, amendments and interpretations to current accredited accounting requirements that aren’t but efficient and haven’t been early adopted by the Firm
         

      There are particular requirements, amendments and interpretation to the accredited accounting requirements which might be necessary for the Firm’s annual accounting durations starting on or after January 01, 2026, however are thought of to not be related or anticipated to have any vital impact on the Firm’s operations and are, subsequently, not detailed in these condensed unconsolidated interim monetary statements.

   2. Non-Compliance with IFRS 14 Regulatory Deferral Accounts
      

      In phrases of SECP’s Notification S.R.O.1480 (1)/2019 dated July 01, 2019, the Firm was granted exemption from the necessities of IFRS 14 Regulatory Deferral Accounts which was additional prolonged sometimes and the newest exemption was accessible until June 30, 2024 vide its letter SMD/PRDD/Comp/(4)/2021/168 dated December 03, 2024.

      The Firm has taken up the matter of additional extension with the involved authorities, nonetheless, as of reporting date, the exemption will not be accessible accordingly, the Firm has not included any adjustment and / or presentation and disclosure necessities as laid down underneath IFRS 14 in these condensed unconsolidated interim monetary statements.

3. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS
   

   In the preparation of the condensed unconsolidated interim monetary statements in conformity with the accounting and reporting requirements as relevant in Pakistan requires administration to make judgments, estimates and assumptions that have an effect on the software of accounting insurance policies and the reported quantities of property and liabilities and incomes and bills. Precise outcomes might differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing foundation. Revision to estimates are recognised prospectively. In getting ready these condensed unconsolidated interim monetary statements, the vital judgments made by the administration in making use of the Firm’s accounting insurance policies and the key sources of estimation uncertainty had been the similar as people who had been utilized to the unconsolidated monetary statements as at and for the 12 months ended June 30, 2025.

   Notice
   

4. PROPERTY, PLANT AND EQUIPMENT
   

   Working mounted property 5.1

   Capital work-in-progress 5.4

   December 31, June 30,
   

   2025 2025
   

   (Unaudited) (Audited)
   

   ——–(Rupees in ‘000)——–
   

   214,194,222 26,032,143	215,010,277 13,645,841
   240,226,365	228,656,118
   215,010,277 4,918,714	189,159,124 36,643,232
   219,928,991	225,802,356
   (18,628)	(520,681)
   (5,716,141)	(10,271,398)
   214,194,222	215,010,277

   1. Following is the motion in working mounted property throughout the interval / 12 months:

      Working mounted property (WDV) – opening steadiness Add: Additions (together with transfers from CWIP)

      throughout the interval / 12 months 5.2

      Much less: Disposals throughout the interval / 12 months (WDV) 5.3

      Depreciation cost for the interval / 12 months Working mounted property (WDV) – closing steadiness

   2. Following additions had been made throughout the interval / 12 months in working mounted asset:
      

      12,309	–
      –	392,909
      11,992	259,998
      278,257	4,098,943
      3,134,867	29,262,603
      43,966	14,138
      436,989	1,268,821
      8,248	24,621
      539,890	411,022
      400,534	330,506
      16,160	4,832
      15,755	68,164
      19,743	506,675
      4,918,714	36,643,232
      –	495,447
      530	112
      2,004	5,311
      –	21
      16,094	19,791
      18,628	520,681
      12,943,883	4,709,312
      216,285	93,259
      1,013,626	743,738
      14,173,794	5,546,309
      12,046,315	8,287,498
      264,586	264,586
      12,310,901	8,552,084
      (452,552)	(452,552)
      26,032,143	13,645,841

      Freehold land Leasehold land

      Buildings on leasehold land Gas transmission pipeline Gas distribution system Telecommunication

      Plant and equipment Instruments and tools Compressors

      Motor automobiles Furnishings and fixture Workplace tools

      Pc and ancillary tools

   3. Disposal throughout the interval / 12 months – WDV
      

      Gas distribution system Telecommunication Plant and equipment Instruments and tools Motor automobiles

   4. Capital work in progress
      

      Initiatives:

      Gas distribution system Gas transmission system

      Price of buildings underneath building and others

      Shops and spares held for capital tasks – web 5.4.2 LPG air combine plant

      Much less: Impairment of capital work in progress

      1. Additions to capital expenditures incurred throughout the interval amounting to Rs. 16,903 million (June 2025: Rs. 33,336 million).

      2. Shops and spares held for capital tasks
         

         Shops and spares held for capital tasks Much less: Provision for impairment

5. LONG TERM INVESTMENTS
   

   Notice
   

   December 31, June 30,
   

   2025 2025
   

   (Unaudited) (Audited)
   

   ——–(Rupees in ‘000)——–
   

   12,555,588 (509,273)	8,766,016 (478,518)
   12,046,315	8,287,498
   1,102,278 504,695	1,102,278 454,109
   1,606,973	1,556,387
   1,000,000	1,000,000
   82,278	82,278
   20,000	20,000
   1,102,278	1,102,278

   At price

   Funding in subsidiary 6.1

   At truthful worth by different complete earnings Affiliate and different investments 6.2

   1. Funding in subsidiaries
      

      SSGC LPG Restricted

      100,000,000 (2025: 100,000,000)

      strange shares of Rs. 10 every (wholly owned subsidiary)

      Unwinding impact of curiosity free mortgage

      SSGC Alternate Power (Personal) Restricted 2,000,000 (2025: 2,000,000)

      strange shares of Rs. 10 every (wholly owned subsidiary)

   2. Funding – at truthful worth by different complete earnings Funding in associated events
      

Sui Northern Gas Pipelines Restricted

2,414,174 (June 2025: 2,414,174) strange
shares of Rs. 10 every	288,542	281,758
Pakistan Refinery Restricted
3,150,000 (June 2025: 3,150,000) strange
shares of Rs. 10 every	115,416	106,880

Different investments

United Financial institution Restricted

100,737	65,471
504,695	454,109
35,170,770 95,624,504	38,969,911 91,734,862
130,795,274 39,958,779	130,704,773 33,161,685
170,754,053 (39,958,779)	163,866,458 (33,161,685)
130,795,274	130,704,773

237,256 (June 2025: 237,256) strange shares of Rs. 10 every

7	TRADE DEBTS
	Thought-about good -secured -unsecured
	Thought-about uncertain	7.1 & 7.2
	Much less: Allowance for anticipated credit score loss	7.3

Opening steadiness		33,161,685		27,445,368
Provision made throughout the interval / 12 months Closing steadiness 8 INTEREST ACCRUED			6,677,704 39,958,779	5,716,317 33,161,685
	Curiosity accrued on late fee of payments / invoices from: – Jamshoro Joint Enterprise Restricted		302,178	239,689
	Gross sales tax refund		487,739	487,739
	Financial institution deposits		28,610	54,850
	Mortgage to a associated get together		15,375	20,666
			833,902	802,944
	Much less: Allowance for anticipated credit score loss		(112,400)	(112,400)
			721,502	690,544
9	OTHER RECEIVABLES
	Tariff changes indigenous gasoline – receivable from GoP	9.1	544,637,055	545,281,936
	Receivable from Sui Northern Gas Pipelines
	Firm Restricted	9.2	57,846,524	48,502,979
Receivable from Jamshoro Joint Enterprise Restricted 9.3			2,345,507	2,262,314
Receivable from SSGC LPG Restricted			14,049	7,844
Receivable from Pakistan LNG Restricted			805,602	832,801
Gas infrastructure growth cess receivable			6,259,112	6,837,838
Off the Grid (Captive energy crops) levy to GOP			4,356,070	218,845
Receivable from GPO towards gasoline invoice assortment 9.4			315,215	315,215
Gross sales tax receivable 9.5			75,278,387	79,123,934
Sindh gross sales tax			2,451	2,451
Asset contribution 9.6			163,880	163,880
Miscellaneous receivable 9.7			124,815	396,358
			692,148,667	683,946,395
Much less: Allowance for anticipated credit score loss			(2,544,768) 689,603,899	(2,544,768) 681,401,627

December 31,	June 30,
2025	2025
(Un-audited)	(Audited)

Notice

December 31, June 30,

2025 2025

(Unaudited) (Audited) Notice ———-(Rupees in ‘000)———-

1. LONG TERM FINANCING
   

   Secured

   Banking firms Unsecured

   Buyer finance Authorities of Sindh

   10.1, 10.2,

   40,652,197	52,343,412
   124,008 940,000	120,145 940,000
   1,064,008 41,716,205	1,060,145 53,403,557
   (33,500,000)	(42,166,667)
   (1,184)	(1,184)
   (186,667)	(186,667)
   (33,687,851)	(42,354,518)
   8,028,354	11,049,039

   10.3 & 10.4

   Much less: present portion proven underneath present liabi Banking firms

   Buyer finance

   Loans from Authorities of Sindh

   1. This features a long run finance facility amounting to Rs. 21,000 million was sanctioned in March 2022 from a syndicate of banks.This monetary association has been secured by GoP assure.

   2. This consists of finance facility amounting to Rs. 15,000 million was sanctioned in December 2022 from a syndicate of banks..

   3. This embody finance facility amounting to Rs. 15,000 million was sanctioned in Could 2024 by the financial institution.

   4. This embody finance facility amounting to Rs. 20,000 million was sanctioned in March 2025 by the financial institution.

   5. These loans / monetary preparations are secured by pari passu cost by means of hypothecation on all current and future movable mounted property of the Firm comprising of compressor stations, transmission and distribution pipelines, pipeline underneath building, equipment and equipments.

2. DEFERRED CREDIT
   

   December 31, June 30,
   

   2025 2025
   

   (Unaudited) (Audited) Notice ———–(Rupees in ‘000)———–
   

   4,338,651	4,514,118
   14,034	275,007
   (238,948)	(450,474)
   4,113,737	4,338,651
   1,847,681	1,736,245
   13,212	248,548
   (72,170)	(137,112)
   1,788,723	1,847,681
   –	76,173
   –	(76,173)
   –	–
   5,902,459	6,186,332
   (622,237)	(573,451)
   5,280,222	5,612,881

   Authorities of Pakistan (GoP) contributions / grants Opening steadiness

   Additions throughout the interval / 12 months

   Amortized throughout the interval / 12 months 21

   Closing steadiness 11.1

   Authorities of Sindh – Dialog of mortgage into grant Opening Stability

   Additions throughout the interval / 12 months

   Amortized throughout the interval / 12 months 21

   Closing steadiness

   Authorities of Sindh grants Opening Stability

   Amortized throughout the interval / 12 months 21

   Closing steadiness Much less: present portion

   1. This represents quantity obtained from the Authorities of Pakistan (GoP) for provide of gasoline to new cities and villages, the similar is recognised as grant when the circumstances specified by the GoP are met. This quantity is amortised over the helpful life of associated tasks.

3. CONTRACT LIABILITIES
   

   Contribution from clients Advance obtained from clients

   1. &12.2

3,973,789

8,275,049

12,248,838

	Opening steadiness		4,308,058		4,055,191
	Additions throughout the interval / 12 months		351,917		568,043
	Amortized throughout the interval / 12 months	21	(161,968)		(315,176)
			4,498,007		4,308,058
	Much less: Present portion		(323,936)		(334,269)
	Closing steadiness		4,174,071		3,973,789
13.	TRADE AND OTHER PAYABLES
	Collectors for: Indigenous gasoline	13.1 & 13.2	830,604,863		829,422,912
	RLNG		12,033,603		18,342,310
			842,638,466	847,765,222
Tariff adjustment- RLNG payable to GoP 13.3			24,984,043	18,744,630
Service fees payable to Engro
Elengy Terminal Restricted (EETL)			3,409,531	3,478,338
Accrued liabilities / payments payable			8,362,521	8,964,988
Worker advantages			4,416,647	3,966,879
Liquidated damages payable to Jamshoro
Energy Firm Restricted			945,423	1,533,994
Deposits / retention cash			1,406,259	1,245,972
Advance for Pak – Arab Refinery
Firm Restricted			18,088	18,088
Withholding tax payable			180,117	90,904
Gross sales tax and federal excise responsibility			189,112	173,722
Sindh sale tax			346,607	297,721
Gas infrastructure growth cess payable			6,259,112	6,837,838
Off the Grid (Captive energy crops) levy to GOP			4,356,070	218,845
Staff’ revenue participation fund			1,519,868	1,382,612
Others		1,001,002 933,949
		900,032,866 895,653,702

Tariff changes RLNG – Payable to GoP

Notice

December 31, June 30,

2025 2025

(Unaudited) (Audited)

——–(Rupees in ‘000)——–

Opening steadiness		18,744,630	34,946,646
Cost throughout the interval	18	6,239,413	(16,203,612)
GOP adjustment on RLNG tariff		–	1,596
Closing steadiness		24,984,043	18,744,630

2025 2025

(Unaudited) (Audited)

——–(Rupees in ‘000)——–

1. SHORT TERM BORROWINGS
   

   Quick time period borrowing from monetary establishments – secured

82,806,374

1. 1. The full restrict of numerous financing amenities accessible from industrial banks towards short-term operating amenities mixture to Rs. 110,000 million (June 2025: Rs. 110,000 million) out of which the firm has utilized Rs 109,084 million (June 2025: Rs. 82,806 million). The relevant markup charges throughout the interval ranges from one to a few months KIBOR plus foundation starting from 0.1% to 1.00% (June 2025: 0.1% to 1.00% ). These amenities are secured by first pari passu and second modification to the joint hypothecation settlement and rating cost over current and future inventory in commerce and commerce money owed of the Firm. Markup is payable on month-to-month and quarterly foundation with the efficient rate of interest charged throughout the 12 months starting from 10.84% to 12.20% (June 2025: 11.38% to 22.21%) every year.

2. INTEREST ACCRUED
   

   Long run financing – loans from banking	445,657	448,561
   Long run deposits from clients	547,008	953,970
   Quick time period borrowings	1,423,605	828,754
   Late fee surcharge on processing fees	99,283	99,283
   	2,515,553	2,330,568

3. 
   CONTINGENCIES AND COMMITMENTS
   

   1. There is no such thing as a vital change in contingencies from the previous audited unconsolidated monetary statements of the Firm for the 12 months ended June 30, 2025, besides for the following:

      1. As disclosed in be aware 7.1, the administration has reversed Late Fee Surcharge (LPS) expense with impact from July 01, 2012 to June 30, 2016 amounting to Rs. 26,222 million on Authorities Managed E&P Firms liabilities and ceased to document LPS expense for the 12 months ended June 30, 2017, June 30, 2018, June 30, 2019,

June 30, 2020, June 30, 2021, June 30, 2022, June 30, 2023, June 30, 2024, June

30, 2025 and half 12 months ended December 30, 2025 amounting to Rs. 7,569 million, Rs.

7,477 million, Rs. 10,525 million, Rs. 26,335 million, Rs 25,939 million, Rs. 27,921 million, Rs. 44,303 million and Rs. 99,005 million, Rs. 95,359 million and Rs 58,322 million, respectively in these unconsolidated monetary statements. The Firm will document and pay such LPS in the interval when it receives LPS on quantity receivable from KE and PSML.

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Sui Southern Gas Firm Ltd. revealed this content material on March 02, 2026, and is solely accountable for the info contained herein. Distributed through Public Applied sciences (PUBT), unedited and unaltered, on March 02, 2026 at 03:26 UTC.