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Pharmaceuticals

HALEON Haleon Pakistan Limited

Latest results: FY2025 · Dec 2025 Q2 FY2026 · Apr – Jun 2026

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Last close · 16 Oct 2026

Rs 684.36 +0.88%

Annual · FY2016 – FY2025

Haleon Pakistan Limited (HALEON) balance sheet

At the end of FY2025 (Jan – Dec 2025) Haleon Pakistan Limited had total assets of Rs 27.2 bn, up 24.6% on FY2024. Current assets of Rs 17.9 bn covered current liabilities of Rs 11.4 bn 1.57 times. Total debt was Rs 250.3 mn, leaving net cash of Rs 7.4 bn. Shareholders' equity was Rs 14.8 bn (Rs 126.41 per share), 54.5% of total assets.

HALEON balance sheet (annual) (Rs bn)
Rs bn FY2025 Jan – Dec 2025 FY2024 Jan – Dec 2024 FY2023 Jan – Dec 2023 FY2022 Jan – Dec 2022 FY2021 Jan – Dec 2021
Assets
Cash & short-term investments 7.6 6.8 4.3 3.5 3.2
Trade receivables 1.1 1.0 0.6 0.6 1.1
Inventories 7.8 5.2 5.6 4.7 4.0
Other current assets 0.1 0.1 0.1 0.1 0.0
Total current assets 17.9 13.8 12.6 10.9 10.0
Property, plant & equipment 9.1 7.8 5.4 4.0 3.7
Intangible assets 0.1 0.1 0.2 0.1 0.1
Other non-current assets 0.1 0.0 0.0 0.0 0.0
Total non-current assets 9.3 8.0 5.6 4.2 3.9
Total assets 27.2 21.8 18.2 15.1 13.9
Liabilities
Trade payables 2.0 1.2 1.1 1.1 0.5
Short-term borrowings & current portion of debt 0.0 0.0 0.0 0.0 0.0
Total current liabilities 11.4 9.0 9.6 7.7 6.9
Long-term debt 0.2 0.2 0.2 0.1 —
Other non-current liabilities 0.3 0.2 0.1 0.1 0.1
Total non-current liabilities 1.0 0.9 0.7 0.4 0.3
Total liabilities 12.4 9.8 10.2 8.0 7.2
Equity
Share capital 1.2 1.2 1.2 1.2 1.2
Reserves & retained earnings 13.6 10.8 6.9 5.9 5.5
Equity attributable to shareholders 14.8 12.0 8.0 7.0 6.7
Non-controlling interest 0.0 0.0 0.0 0.0 0.0
Total equity 14.8 12.0 8.0 7.0 6.7
Total liabilities & equity 27.2 21.8 18.2 15.1 13.9
Key figures
Total debt 0.3 0.2 0.2 0.2 0.0
Net debt / (net cash) (7.4) (6.5) (4.0) (3.3) (3.2)
Shares outstanding mn 117.1 117.1 117.1 117.1 117.1
Common equity 14.8 12.0 8.0 7.0 6.7
Book value per share (Rs) Rs 126.41 102.42 68.54 60.16 57.37
HALEON balance sheet — year-on-year change (Rs mn)
Rs mn FY2025 Jan – Dec 2025 FY2024 Jan – Dec 2024 FY2023 Jan – Dec 2023 FY2022 Jan – Dec 2022 FY2021 Jan – Dec 2021
Assets
Cash & short-term investments +12.6% +58.3% +23.3% +8.5% +50.2%
Trade receivables +4.2% +70.8% -4.0% -42.3% +64.5%
Inventories +51.2% -7.4% +19.6% +15.7% +36.2%
Other current assets +15.7% -14.5% +29.9% +672.5% +166.9%
Total current assets +29.5% +9.0% +16.0% +8.9% +36.5%
Property, plant & equipment +16.4% +45.0% +35.3% +7.6% +6.1%
Intangible assets 0.0% -16.9% +20.3% 0.0% 0.0%
Other non-current assets +9.0% +45.2% +21.3% +171.5% +29.2%
Total non-current assets +16.1% +43.2% +34.8% +7.8% +5.9%
Total assets +24.6% +19.5% +21.1% +8.6% +26.4%
Liabilities
Trade payables +59.2% +14.8% -0.0% +101.2% +81.2%
Short-term borrowings & current portion of debt +10.3% +15.6% +7.8% — -100.0%
Total current liabilities +27.1% -6.2% +24.8% +11.7% +23.1%
Long-term debt -1.8% +5.7% +62.3% — —
Other non-current liabilities +47.4% +40.6% +29.3% +9.4% +10.5%
Total non-current liabilities +14.5% +27.8% +85.4% +22.1% +22.8%
Total liabilities +26.0% -4.0% +27.5% +12.1% +23.1%
Equity
Share capital 0.0% 0.0% 0.0% 0.0% -0.0%
Reserves & retained earnings +26.0% +57.9% +16.7% +5.9% +38.8%
Equity attributable to shareholders +23.4% +49.4% +13.9% +4.9% +30.0%
Non-controlling interest — — — — —
Total equity +23.4% +49.4% +13.9% +4.9% +30.0%
Total liabilities & equity +24.6% +19.5% +21.1% +8.6% +26.4%
Key figures
Total debt +0.4% +7.3% +49.7% — -100.0%
Net debt / (net cash) — — — — —
Shares outstanding — — — — —
Common equity +23.4% +49.4% +13.9% +4.9% +30.0%
Book value per share (Rs) +23.4% +49.4% +13.9% +4.9% +30.0%

Change against the previous fiscal year; shown when the earlier figure is positive.

HALEON balance sheet — common size (Rs mn)
Rs mn FY2025 Jan – Dec 2025 FY2024 Jan – Dec 2024 FY2023 Jan – Dec 2023 FY2022 Jan – Dec 2022 FY2021 Jan – Dec 2021
Assets
Cash & short-term investments 28.1% 31.1% 23.5% 23.1% 23.1%
Trade receivables 4.0% 4.8% 3.3% 4.2% 7.9%
Inventories 28.8% 23.7% 30.6% 31.0% 29.1%
Other current assets 0.5% 0.5% 0.7% 0.7% 0.1%
Total current assets 65.8% 63.3% 69.3% 72.4% 72.2%
Property, plant & equipment 33.5% 35.9% 29.6% 26.5% 26.7%
Intangible assets 0.5% 0.6% 0.8% 0.8% 0.9%
Other non-current assets 0.2% 0.2% 0.2% 0.2% 0.1%
Total non-current assets 34.2% 36.7% 30.7% 27.6% 27.8%
Total assets 100.0% 100.0% 100.0% 100.0% 100.0%
Liabilities
Trade payables 7.3% 5.7% 6.0% 7.2% 3.9%
Short-term borrowings & current portion of debt 0.2% 0.2% 0.2% 0.2% 0.0%
Total current liabilities 41.9% 41.1% 52.4% 50.9% 49.4%
Long-term debt 0.7% 0.9% 1.1% 0.8% —
Other non-current liabilities 1.0% 0.9% 0.8% 0.7% 0.7%
Total non-current liabilities 3.6% 3.9% 3.7% 2.4% 2.1%
Total liabilities 45.5% 45.0% 56.0% 53.2% 51.6%
Equity
Share capital 4.3% 5.4% 6.4% 7.8% 8.4%
Reserves & retained earnings 50.2% 49.6% 37.6% 39.0% 40.0%
Equity attributable to shareholders 54.5% 55.0% 44.0% 46.8% 48.4%
Non-controlling interest 0.0% 0.0% 0.0% 0.0% 0.0%
Total equity 54.5% 55.0% 44.0% 46.8% 48.4%
Total liabilities & equity 100.0% 100.0% 100.0% 100.0% 100.0%
Key figures
Total debt 0.9% 1.1% 1.3% 1.0% 0.0%
Net debt / (net cash) (27.2%) (30.0%) (22.2%) (22.0%) (23.1%)
Common equity 54.5% 55.0% 44.0% 46.8% 48.4%

Each line as a percentage of total assets.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. * Figures in this period do not fully reconcile in the source data (hover the * for details). Updated 16 Oct 2026.

All reported line items 159
HALEON balance sheet — all reported line items (Rs bn)
Rs bn FY2025 Jan – Dec 2025 FY2024 Jan – Dec 2024 FY2023 Jan – Dec 2023 FY2022 Jan – Dec 2022 FY2021 Jan – Dec 2021
Cash & Cash Equivalents 4.3 6.1 3.3 2.5 2.5
Cash & Short Term Investments 7.6 6.8 4.3 3.5 3.2
Short-Term Investments - Total 3.3 0.7 1.0 1.0 0.7
Loans & Receivables - Net - Short-Term 2.3 1.7 2.7 2.7 2.3
Loans & Receivables - Total 2.3 1.7 2.7 2.7 2.3
Trade Accounts & Trade Notes Receivable - Net 1.1 1.0 0.6 0.6 1.1
Trade Accounts & Trade Notes Receivable - Gross 1.1 1.1 0.6 0.7 1.1
Provision - Trade Accounts & Trade Notes Receivable 0.0 0.0 0.0 0.0 0.0
Loans - Short-Term 0.2 0.2 0.3 0.4 0.0
Income Tax - Receivables - Short-Term 0.4 0.1 1.3 0.9 0.7
Receivables - Other - Total 0.5 0.4 0.4 0.7 0.5
Accounts & Notes Receivable - Trade - Gross - Total 1.1 1.1 0.6 0.7 1.1
Inventories - Total 7.8 5.2 5.6 4.7 4.0
Inventories - Raw Materials 5.6 3.2 3.0 2.3 2.4
Inventories - Work in Progress 0.1 0.0 0.0 0.1 0.0
Inventories - Finished Goods 2.5 2.2 2.7 2.5 1.8
Inventories - Other - Total (0.3) (0.3) (0.2) (0.1) (0.1)
Provision - Doubtful Accounts - Total — — — — —
Prepaid Expenses - Short-Term — — — — 0.5
Investments - Total 3.3 0.7 1.0 1.0 0.7
Other Current Assets - Total 0.1 0.1 0.1 0.1 0.0
Property, Plant & Equipment - Net - Total 9.1 7.8 5.4 4.0 3.7
Property, Plant & Equipment - Gross - Total 11.8 10.1 7.2 5.5 4.9
Property, Plant & Equipment - Accumulated Depreciation & Impairment - Total 2.7 2.2 1.8 1.5 1.2
Other Current Assets 0.1 0.1 0.1 0.1 0.0
Other Assets - Total 0.2 0.2 0.2 0.1 0.0
Intangible Assets - Total - Net 0.1 0.1 0.2 0.1 0.1
Total Current Assets 17.9 13.8 12.6 10.9 10.0
Intangible Assets - excluding Goodwill - Net - Total 0.1 0.1 0.2 0.1 0.1
Receivables & Loans - Long-Term 0.0 0.0 0.0 0.0 0.0
Loans - Long-Term 0.0 0.0 0.0 0.0 0.0
Provision - Doubtful Accounts - Long-Term — — — — —
Property, Plant & Equipment - excluding Assets Leased Out - Net - Total 9.1 7.8 5.4 4.0 3.7
Land & Buildings - Net 0.7 0.7 0.8 0.6 0.7
Buildings - Net 0.7 0.7 0.8 0.6 0.7
Leasehold Improvements - Net 0.0 0.0 0.0 0.0 0.0
Plant, Machinery & Equipment - Net 3.7 3.4 2.5 2.1 2.2
Transportation Equipment - Net 0.5 0.5 0.4 0.2 0.2
Construction in Progress - Net 4.0 3.0 1.4 0.8 0.6
Right of Use Tangible Assets - Total - Net 0.2 0.2 0.2 0.2 0.0
Right of Use Tangible Assets - Capital/Finance Lease - Net 0.2 0.2 0.2 0.2 0.0
Property, Plant & Equipment - Other - Net 0.5 0.5 0.5 0.2 0.3
Property, Plant & Equipment - excluding Assets Leased Out - Gross 11.8 10.1 7.2 5.5 4.9
Land & Buildings - Gross 1.0 1.0 1.0 0.8 0.8
Buildings - Gross 1.0 1.0 0.9 0.8 0.8
Leasehold Improvements - Gross 0.0 0.0 0.0 0.0 0.0
Plant, Machinery & Equipment - Gross 5.6 5.0 3.8 3.2 3.0
Transportation Equipment - Gross 0.8 0.8 0.6 0.4 0.4
Construction in Progress - Gross 4.0 3.0 1.4 0.8 0.6
Right of Use Tangible Assets - Total - Gross 0.2 0.2 0.2 0.2 0.0
Total Assets 27.2 21.8 18.2 15.1 13.9
Right of Use Tangible Assets - Capital/Finance Lease - Gross 0.2 0.2 0.2 0.2 0.0
Property, Plant & Equipment - Other - Gross 1.1 0.9 0.9 0.5 0.4
Debt - Total 0.3 0.2 0.2 0.2 0.0
Short-Term Debt & Current Portion of Long-Term Debt 0.0 0.0 0.0 0.0 0.0
Property, Plant & Equipment - excluding Assets Leased Out - Accumulated Depreciation & Impairment - Total 2.7 2.2 1.8 1.5 1.2
Land & Buildings - Accumulated Depreciation & Impairment 0.3 0.2 0.2 0.2 0.1
Buildings - Accumulated Depreciation & Impairment 0.3 0.2 0.2 0.2 0.1
Leasehold Improvements - Accumulated Depreciation & Impairment 0.0 0.0 0.0 0.0 0.0
Current Portion of Long-Term Debt including Capitalized Leases 0.0 0.0 0.0 0.0 0.0
Plant, Machinery & Equipment - Accumulated Depreciation & Impairment 1.9 1.6 1.3 1.1 0.9
Transportation Equipment - Accumulated Depreciation & Impairment 0.3 0.3 0.2 0.2 0.2
Capitalized Leases - Current Portion 0.0 0.0 0.0 0.0 0.0
Short-Term Debt & Notes Payable — — — — —
Debt - Long-Term - Total 0.2 0.2 0.2 0.1 —
Property, Plant & Equipment - Other - Accumulated Depreciation & Impairment 0.6 0.4 0.3 0.3 0.2
Current Portion of Long-Term Debt excluding Capitalized Leases 0.0 0.0 0.0 — —
Capitalized Lease Obligations - Long-Term 0.2 0.2 0.2 0.1 —
Long-Term Debt excluding Capitalized Leases 0.0 0.0 0.0 — —
Other Non-Current Assets - Total 0.1 0.0 0.0 0.0 0.0
Debt - Non-Convertible - Long-Term 0.0 0.0 0.0 — —
Dividends Payable 0.0 0.0 1.5 1.5 1.9
Deferred Tax - Asset - Long-Term — — — — —
Deferred Tax & Investment Tax Credits - Long-Term 0.5 0.5 0.3 0.1 0.2
Deferred Tax - Liability - Long-Term 0.5 0.5 0.3 0.1 0.2
Payables & Accrued Expenses 8.1 6.3 6.2 4.3 3.7
Trade Account Payables - Total 2.0 1.2 1.1 1.1 0.5
Pension Assets - Long-Term — — — — —
Other Non-Current Assets 0.1 0.0 0.0 0.0 0.0
Accrued Expenses 6.1 5.0 5.1 3.3 3.1
Total Liabilities 12.4 9.8 10.2 8.0 7.2
Shareholders' Equity - Attributable to Parent Shareholders - Total 14.8 12.0 8.0 7.0 6.7
Total Non-Current Assets 9.3 8.0 5.6 4.2 3.9
Common Equity Attributable to Parent Shareholders 14.8 12.0 8.0 7.0 6.7
Common Equity - Contributed 1.2 1.2 1.2 1.2 1.2
Common Stock - Issued & Paid 1.2 1.2 1.2 1.2 1.2
Equity - Non-Contributed - Reserves & Retained Earnings 13.6 10.8 6.9 5.9 5.5
Retained Earnings - Total 13.6 10.8 6.9 5.9 5.5
Trade Accounts Payable & Accruals - Short-Term 8.1 6.3 6.2 4.3 3.7
Trade Accounts & Trade Notes Payable - Short-Term 2.0 1.2 1.1 1.1 0.5
Accrued Expenses - Short-Term 6.1 5.0 5.1 3.3 3.1
Income Taxes - Payable - Short-Term 0.1 0.1 0.1 0.0 0.1
Dividends/Distributions Payable 0.0 0.0 1.5 1.5 1.9
Other Current Liabilities - Total 3.0 2.5 1.7 1.7 1.2
Common Equity - Total 14.8 12.0 8.0 7.0 6.7
Deferred Income - Short-Term 1.2 1.0 0.8 0.9 0.5
Customer Advances - Short-Term — — — — —
Total Shareholders' Equity - including Minority Interest & Hybrid Debt 14.8 12.0 8.0 7.0 6.7
Total Liabilities & Equity 27.2 21.8 18.2 15.1 13.9
Other Current Liabilities 1.9 1.5 0.9 0.8 0.7
Total Current Liabilities 11.4 9.0 9.6 7.7 6.9
Other Non-Current Liabilities - Total 0.3 0.2 0.1 0.1 0.1
Provisions - Long-Term 0.3 0.2 0.1 0.1 0.1
Post Employment Benefits - Pension & Other - Long-Term 0.3 0.2 0.1 0.1 0.1
Other Non-Current Liabilities 0.0 0.0 0.0 — —
Total Non-Current Liabilities 1.0 0.9 0.7 0.4 0.3
Common Shares - Issued - Total mn 117.1 117.1 117.1 117.1 117.1
Common Shares - Outstanding - Total mn 117.1 117.1 117.1 117.1 117.1
Common Shares - Treasury - Total mn 0.0 0.0 0.0 0.0 0.0
Common Shares - Authorized - Issue Specific mn 200.0 200.0 200.0 200.0 200.0
Common Shares - Issued - Issue Specific mn 117.1 117.1 117.1 117.1 117.1
Common Shares - Outstanding - Issue Specific mn 117.1 117.1 117.1 117.1 117.1
Common Shares - Treasury - Issue Specific mn 0.0 0.0 0.0 0.0 0.0
Asset Allocation Factor - Issue Specific 1.00× 1.00× 1.00× 1.00× 1.00×
Right of Use Tangible Assets - Total - Net - Supplemental 0.2 0.2 0.2 0.2 0.0
Right of Use Tangible Assets - Capital/Finance Lease - Net - Supplemental 0.2 0.2 0.2 0.2 0.0
Property, Plant & Equipment - excluding Right of Use Tangible Assets & Capital Leases - Net - Supplemental 8.9 7.6 5.2 3.8 3.7
Finance and Operating Lease Liabilities - Total - Supplemental 0.3 0.2 0.2 0.2 0.0
Debt including Finance and Operating Lease Liabilities - Supplemental 0.3 0.2 0.2 0.2 0.0
Net Debt (7.4) (6.5) (4.0) (3.3) (3.2)
Asset Accruals 22.9 15.7 15.0 12.5 11.4
Cash & Cash Equivalents - Total 4.3 6.1 3.3 2.5 2.5
Cash & Short Term Investments - Total 7.6 6.8 4.3 3.5 3.2
Debt - including Preferred Equity & Minority Interest - Total 0.3 0.2 0.2 0.2 0.0
Net Book Capital 7.4 5.5 4.0 3.7 3.5
Net Operating Assets 7.4 5.5 4.0 3.7 3.5
Provisions - Total 0.8 0.6 0.5 0.2 0.3
Shareholders Equity - Common 14.8 12.0 8.0 7.0 6.7
Tangible Total Equity 14.7 11.9 7.9 6.9 6.6
Tangible Book Value 14.7 11.9 7.9 6.9 6.6
Total Book Capital 15.0 12.2 8.3 7.2 6.7
Total Capital 15.0 12.2 8.3 7.2 6.7
Total Long Term Capital 15.8 12.8 8.7 7.4 7.0
Unearned Revenue - Total 1.2 1.0 0.8 0.9 0.5
Book Value excluding Other Equity 14.8 12.0 8.0 7.0 6.7
Income Taxes - Payable - Long-Term & Short-Term 0.1 0.1 0.1 0.0 0.1
Revolving Line of Credit - Unutilized/Unused Amount 2.9 4.4 2.6 0.7 0.5
Revolving Line of Credit - Total Principal Amount 3.3 4.8 4.8 1.1 1.1
Contract Liabilities - Short-Term - Advance Consideration & Progress Billings in Excess of Unbilled Revenue 1.2 1.0 0.8 0.9 0.5
Accruals - Short-Term 2.2 (1.2) (0.2) 0.7 0.7
Cash & Short Term Investments - Net of Debt 7.4 6.5 4.0 3.3 3.2
Current Portion of Long-Term Debt including Capitalized Leases & Hybrid Financial Instruments 0.0 0.0 0.0 0.0 0.0
Total Fixed Assets - Net 9.3 8.0 5.6 4.1 3.8
Working Capital 6.5 4.8 3.1 3.2 3.2
Interest Bearing Liabilities - Total 0.3 0.2 0.2 0.2 0.0
Working Capital - Non-Cash (1.2) (2.0) (1.2) (0.2) (0.0)
Working Capital excluding Other Current Assets & Liabilities 9.4 7.3 4.7 4.9 4.4
Net Debt Including Preferred Equity & Minority Interest (7.4) (6.5) (4.0) (3.3) (3.2)
Other Short-Term & Long-Term Assets - Total 0.2 0.2 0.2 0.1 0.0
Other Short-Term & Long-Term Liabilities - Total 3.0 2.5 1.7 1.7 1.2
Total Current Assets excluding Total Inventories 10.0 8.6 7.1 6.2 6.0
Tangible Book Value excluding Other Equity 14.7 11.9 7.9 6.9 6.6
Total Debt Excluding Islamic 0.3 0.2 0.2 0.2 0.0
Trade Accounts & Trade Notes Receivable - Net - Total 1.1 1.0 0.6 0.6 1.1
Provision for Doubtful Accounts & Notes Receivable - Total 0.0 0.0 0.0 0.0 0.0
Current Liabilities excluding Current Debt - Total 11.3 8.9 9.5 7.6 6.9
Cash in Hand & with Banks - Total 4.3 6.1 3.3 2.5 2.5
Current Assets excluding Cash & Short Term Investments - Total 10.2 7.0 8.4 7.4 6.8
Cash, Short Term Investments & Accounts Receivable - Total 8.7 7.8 4.9 4.1 4.3

Every line the company reported, in the original order and wording, without regrouping or signs changed.