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5-day change | 1st Jan Change | ||
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72.22 PKR |
-4.92% |
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-7.53% | -29.94% |
Published on 04/30/2026
at 01:43 am EDT
Publicnow
MISIL/Shariah/HY-2025 April 30, 2026
The General Manager
Pakistan Stock Exchange Limited, Stock Exchange Road,
Karachi.
By PUCAR & Courier
Subject: Submission of Revised Shariah Disclosure (Half-Yearly Accounts – December 31, 2025)
Dear Sir,
With reference to PSX Notice No. PSX/N-1419 dated December 24, 2025, issued in continuation of earlier notice PSX/N-1283 dated November 27, 2025, regarding mandatory compliance with Shariah disclosures, and pursuant to the requirements of Clause 5.6.9A.2 and Clause 5A.13(e)(ii) of the PSX Regulations, read with Clause VII of Part I of Schedule IV of the Companies Act, 2017, we would like to submit the following:
We confirm that the Company has already duly disclosed the Shariah Disclosure in its Half-Yearly Accounts for the period ended December 31, 2025, as required under the applicable regulatory framework, and the same was disseminated through PUCARS.
Further to your letter Ref. No. PSX/N-435 dated April 17, 2026, we are resubmitting the Shariah disclosure through PUCARS, wherein the relevant fields have been marked as “Not Applicable / Zero”, in accordance with the nature and applicability of the disclosure requirements.
This submission is being made to ensure complete compliance with the applicable provisions of the PSX Regulations and the Companies Act, 2017.
We trust that this will be found in order.
Yours Sincerely
for MUGHAL IRON & STEEL INDUSTRIES LIMITED
MUHAMMAD FAHAD HAFEEZ
(Company Secretary)
CC: Executive Director/HOD
Offsite-II Department, Supervision Division,
Securities & Exchange Commission of Pakistan, Islamabad.
Standalone condensed interim statement of financial position
-
DISCLOSURE REQUIREMENT FOR COMPANIES NOT ENGAGED IN SHARIAH NON-PERMISSIBLE BUSINESS ACTIVITIES
Following information has been disclosed as required under amended part I clause VII of Fourth Schedule to the Companies Act, 2017 as amended via S.R.O.1278(I)/2024 dated August 15, 2024.
Half year ended As at
December 31,
2025
December 31,
2024
December 31,
2025
June 30, 2025
(Unaudited) (Unaudited) (Unaudited) (Audited) Rupees Rupees
Transactions Outstanding balances
Condensed interim statement of financial position:
Liabilities side
Financing (long-term, short-term or lease financing) obtained as per Islamic mode
17,153,703,261
16,626,361,973
Interest or mark-up accrued on any conventional loan or advance
298,795,034
289,415,699
Assets side
Long-term and short-term Shariah compliant Investments
3,170,851,240
3,318,955,091
Shariah compliant bank deposits / bank balances / TDRs
2,744,244,264
2,955,102,885
Condensed interim statement of profit or loss:
Revenue earned from a Shariah compliant business segment
48,138,827,147
53,518,356,954
Break-up of late payments or liquidated damages
Not Applicable
Not Applicable
Gain or loss or dividend earned on Shariah-compliant investments or share of
profit from Shariah-compliant associates
Not Applicable
Not Applicable
Profit earned from Shariah compliant bank deposits , balances / TDRs
10,728,609
34,008,788
Exchange gain earned from actual currency
Not Applicable
Not Applicable
Exchange gain earned using conventional derivative financial instruments
Not Applicable
Not Applicable
Profit paid on Islamic mode of financing
1,011,276,612
1,676,605,701
Total interest earned on any conventional loan or advance
168,399,315
78,302,089
Sources and detailed breakup of other income, including breakup of other or miscellaneous portions of other income into Shariah-compliant and non-compliant income:
Non-Shariah compliant
Profit on saving accounts
3,431,793
2,027,396
Finance income on long-term loan to subsidiary company
168,399,315
–
Finance income on short-term loan to subsidiary company – 78,302,089
171,831,108
80,329,485
Shariah compliant
Profit on saving accounts
10,728,609
34,008,788
Profit on term deposit receipts
–
783,796
Profit on long-term debt instrument
–
5,419,210
Profit on short-term debt instrument
2,160,188
187,945
Foreign exchange gain – net
37,615,793
26,786,397
Gain on disposal of tangible fixed assets
1,834,285
7,423,870
Balances written back – net
57,496,473
–
Gain / loss on sale of store items 40,097,491 (2,486)
149,932,839 74,607,520
321,763,947 154,937,005Relationship with Shariah-compliant financial institutions, including banks, takaful operator and their windows:
The Company maintains good relationship with shariah compliant banks / takaful operators and carries out trade and other routine banking / takaful transactions with them.
Consolidated condensed interim statement of financial position
-
DISCLOSURE REQUIREMENT FOR COMPANIES NOT ENGAGED IN SHARIAH NON-PERMISSIBLE BUSINESS ACTIVITIES
Following information has been disclosed as required under amended part I clause VII of Fourth Schedule to the Companies Act, 2017 as amended via S.R.O.1278(I)/2024 dated August 15, 2024.
Half year ended As at
December 31,
2025
December 31,
2024
December 31,
2025
June 30, 2025
(Unaudited) (Unaudited) (Unaudited) (Audited) Rupees Rupees
Transactions Outstanding balances
|
Condensed interim statement of financial position:
Liabilities side
Financing (long-term, short-term or lease financing) obtained as per Islamic mode |
19,787,955,977 |
17,333,708,033 |
||
|
Interest or mark-up accrued on any conventional loan or advance |
302,732,160 |
292,980,624 |
||
|
Assets side
Long-term and short-term Shariah compliant Investments |
20,851,240 |
168,955,091 |
||
|
Shariah compliant bank deposits / bank balances / TDRs |
2,783,257,486 |
2,969,776,404 |
||
|
Consolidated condensed interim statement of profit or loss:
Revenue earned from a Shariah compliant business segment |
48,138,827,147 |
53,518,356,954 |
||
|
Break-up of late payments or liquidated damages
Gain or loss or dividend earned on Shariah-compliant investments or share of profit from Shariah-compliant associates |
Not Applicable
Not Applicable |
Not Applicable
Not Applicable |
||
|
Profit earned from Shariah compliant bank deposits , bank balances or TDRs
Exchange gain earned from actual currency
Exchange gain earned using conventional derivative financial instruments Profit paid on Islamic mode of financing
Total interest earned on any conventional loan or advance |
10,734,962
Not Applicable Not Applicable
1,011,276,612
Not Applicable |
34,021,167
Not Applicable Not Applicable
1,676,605,701
Not Applicable |
Sources and detailed breakup of other income, including breakup of other or miscellaneous portions of other income into Shariah-compliant and non-compliant income:
Non-Shariah compliant
Profit on saving accounts 3,431,793 2,027,396
|
3,431,793 |
2,027,396 |
|
|
Shariah compliant |
||
|
Profit on saving accounts |
10,734,962 |
34,021,167 |
|
Profit on term deposit receipts |
– |
783,796 |
|
Profit on investment in long-term debt instrument |
– |
5,419,210 |
|
Profit on investments in short-term debt instrument |
2,160,188 |
187,945 |
|
Foreign exchange gain – net |
37,617,844 |
26,786,397 |
|
Rental income |
1,916,640 |
|
|
Gain on disposal of tangible fixed assets |
1,834,285 |
7,423,870 |
|
Balances written back – net |
57,526,473 |
– |
Loss on sale of store items – (2,486)
109,873,752 76,536,539
113,305,545 78,563,935
Relationship with Shariah-compliant financial institutions, including banks, takaful operator and their windows:
The Company maintains good relationship with shariah compliant banks / takaful operators and carries out trade and other routine banking / takaful transactions with them.
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Disclaimer
Mughal Iron & Steel Industries Ltd. published this content on April 30, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 30, 2026 at 05:42 UTC.
Mughal Iron & Steel Industries Limited is a Pakistan-based steel company. The Company is involved in multidimensional activities, including making billets of mild steel, spring steel, deformed bar, re-bar, cold twisted rebar, and a range of sections, such as I.Beams, L.Sections, C.Section, H.Beam, T.Bar, and other in the downstream industry. Its business segments principally consist of Ferrous segment, Non-ferrous segment and Energy segment. Ferrous segment comprises mild steel products and non-ferrous segment comprises mainly of copper products and iron. Energy segment represents operations of Mughal Energy Limited, which is engaged in the business of generating, purchasing, importing, transforming, converting, distributing, supplying, exporting and dealing in electricity and all other forms of energy and products or services associated therewith. It offers its products under various categories, including smelting, billet, bars, and beams.
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