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Sugar & Allied Industries

TCORP Tariq Corporation Limited

Latest results: FY2025 · Sep 2025

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Last close · 16 Oct 2026

Rs 19.63 -0.76%

Annual · FY2011 – FY2025

Tariq Corporation Limited (TCORP) income statement

Tariq Corporation Limited reported revenue of Rs 7.6 bn for FY2025 (Oct 2024 – Sep 2025), up 9.8% on FY2024. Gross profit came to Rs 198.8 mn, a gross margin of 2.6%. Operating profit was -Rs 206.0 mn (an operating margin of -2.7%). Finance cost was Rs 112.1 mn, down 53.2% on FY2024. Tax of Rs 80.0 mn took 68.6% of pre-tax profit. Profit attributable to shareholders was Rs 36.6 mn, up 73.3% on FY2024, or Rs 0.54 per share.

TCORP income statement (annual) (Rs mn)
Rs mn FY2025 Oct 2024 – Sep 2025 FY2024 Oct 2023 – Sep 2024 FY2023 Oct 2022 – Sep 2023 FY2022 Oct 2021 – Sep 2022 FY2021 Oct 2020 – Sep 2021
Revenue 7,551.9 6,876.5 7,832.8 6,286.5 6,148.5
Cost of revenue (7,353.0) (7,295.6) (6,859.6) (5,806.4) (5,672.5)
Gross profit 198.8 (419.1) 973.2 480.2 476.0
Selling, general & administrative expenses (386.3) (355.3) (329.3) (269.5) (229.7)
Operating profit (206.0) (776.8) 589.3 186.4 237.4
Finance cost (112.1) (239.4) (482.3) (414.7) (305.5)
Profit before tax 116.7 (309.2) 578.7 (119.8) 68.5
Taxation (80.0) 330.3 (237.6) (79.1) (44.9)
Profit after tax 36.6 21.1 341.0 (198.9) 23.7
Profit attributable to shareholders 36.6 21.1 341.0 (198.9) 23.7
Per share & other
EPS – basic (Rs) Rs 0.54 0.34 6.24 (3.68) 0.56
EPS – diluted (Rs) Rs 0.54 0.34 6.24 (3.68) 0.56
Dividend per share (Rs) Rs 0.00 0.00 0.00 0.00 0.00
EBITDA (17.7) (582.3) 753.9 351.1 398.2
Depreciation & amortisation 188.3 194.4 164.6 164.7 160.8
Weighted average shares mn 68.3 61.2 54.7 54.0 42.3
TCORP income statement — year-on-year change (Rs mn)
Rs mn FY2025 Oct 2024 – Sep 2025 FY2024 Oct 2023 – Sep 2024 FY2023 Oct 2022 – Sep 2023 FY2022 Oct 2021 – Sep 2022 FY2021 Oct 2020 – Sep 2021
Revenue +9.8% -12.2% +24.6% +2.2% +108.1%
Cost of revenue +0.8% +6.4% +18.1% +2.4% +113.2%
Gross profit — -143.1% +102.7% +0.9% +61.8%
Selling, general & administrative expenses +8.7% +7.9% +22.2% +17.3% +10.4%
Operating profit — -231.8% +216.2% -21.5% +460.8%
Finance cost -53.2% -50.4% +16.3% +35.7% -14.6%
Profit before tax — -153.4% — -274.8% —
Taxation — -239.0% +200.4% +76.3% -41.9%
Profit after tax +73.3% -93.8% — -940.6% —
Profit attributable to shareholders +73.3% -93.8% — -940.6% —
Per share & other
EPS – basic (Rs) +55.4% -94.5% — -758.6% —
EPS – diluted (Rs) +55.4% -94.5% — -758.6% —
Dividend per share (Rs) — — — — —
EBITDA — -177.2% +114.7% -11.8% +130.2%
Depreciation & amortisation -3.2% +18.1% -0.1% +2.4% +23.0%
Weighted average shares — — — — —

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

TCORP income statement — common size (Rs mn)
Rs mn FY2025 Oct 2024 – Sep 2025 FY2024 Oct 2023 – Sep 2024 FY2023 Oct 2022 – Sep 2023 FY2022 Oct 2021 – Sep 2022 FY2021 Oct 2020 – Sep 2021
Revenue 100.0% 100.0% 100.0% 100.0% 100.0%
Cost of revenue (97.4%) (106.1%) (87.6%) (92.4%) (92.3%)
Gross profit 2.6% (6.1%) 12.4% 7.6% 7.7%
Selling, general & administrative expenses (5.1%) (5.2%) (4.2%) (4.3%) (3.7%)
Operating profit (2.7%) (11.3%) 7.5% 3.0% 3.9%
Finance cost (1.5%) (3.5%) (6.2%) (6.6%) (5.0%)
Profit before tax 1.5% (4.5%) 7.4% (1.9%) 1.1%
Taxation (1.1%) 4.8% (3.0%) (1.3%) (0.7%)
Profit after tax 0.5% 0.3% 4.4% (3.2%) 0.4%
Profit attributable to shareholders 0.5% 0.3% 4.4% (3.2%) 0.4%
Per share & other
EBITDA (0.2%) (8.5%) 9.6% 5.6% 6.5%
Depreciation & amortisation 2.5% 2.8% 2.1% 2.6% 2.6%

Each line as a percentage of revenue.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. Updated 15 Oct 2026.

All reported line items 103
TCORP income statement — all reported line items (Rs mn)
Rs mn FY2025 Oct 2024 – Sep 2025 FY2024 Oct 2023 – Sep 2024 FY2023 Oct 2022 – Sep 2023 FY2022 Oct 2021 – Sep 2022 FY2021 Oct 2020 – Sep 2021
Revenue from Goods & Services 7,551.9 6,876.5 7,832.8 6,286.5 6,148.5
Sales of Goods & Services - Net - Unclassified 8,866.4 7,943.1 9,054.4 7,237.0 6,148.5
Revenue Taxes 1,314.6 1,066.6 1,221.6 950.4 —
Revenue from Business Activities - Total 7,551.9 6,876.5 7,832.8 6,286.5 6,148.5
Cost of Operating Revenue 7,353.0 7,295.6 6,859.6 5,806.4 5,672.5
Cost of Revenues - Total 7,353.0 7,295.6 6,859.6 5,806.4 5,672.5
Cost of Revenues - Unclassified 7,194.9 7,131.1 6,716.1 5,662.0 5,528.2
Selling, General & Administrative Expenses - Total 386.3 355.3 329.3 269.5 229.7
Selling, General & Administrative Expenses - Unclassified 330.0 300.8 297.0 241.8 207.5
Depreciation in Cost of Revenues 158.1 164.6 143.5 144.4 144.3
Depreciation in Selling, General & Administrative Expenses 30.1 29.9 21.6 20.3 17.9
Amortization of Intangibles in Selling, General & Administrative Expenses — — — — —
Other Operating Expense/(Income) - Net 18.4 2.3 54.6 24.3 8.9
Other Operating Income - Total — — — — —
Gross Profit - Industrials/Property - Total 198.8 (419.1) 973.2 480.2 476.0
Operating Expenses - Total 7,757.8 7,653.3 7,243.5 6,100.2 5,911.1
Labor & Related Expenses including Stock-Based Compensation in Selling, General & Administrative Expenses 26.2 24.6 10.7 7.4 4.3
Operating Profit before Non-Recurring Income/(Expense) (206.0) (776.8) 589.3 186.4 237.4
Financing Income/(Expense) - Net - Total (127.6) (252.9) (499.2) (435.4) (310.6)
Interest Expense - Net of (Interest Income) 111.9 239.4 482.3 414.7 305.5
Other Operating Expense — — — — —
Interest Expense - Net of Capitalized Interest 112.1 239.4 482.3 414.7 305.5
Non-Interest Financial Income/(Expense) - Total (15.6) (13.5) (16.9) (20.7) (5.1)
Non-Interest Financial Income/(Expense) - Other - Net (15.6) (13.5) (16.9) (20.7) (5.1)
Sale of Tangible & Intangible Fixed Assets - Gain/Loss 518.7 749.7 0.5 0.0 (3.7)
Equity Earnings/(Loss) - before Taxes including Non-Recurring 0.7 — — — —
Other Non-Operating Income/(Expense) - Total (80.1) (40.5) 488.2 129.3 154.1
Normalized Pre-tax Profit 105.8 (320.6) 578.7 (119.8) 77.3
Non-Recurring Income/Expense - Total 10.9 11.4 — 0.0 (8.8)
Impairment - Tangible & Intangible Fixed Assets — — — 0.0 8.8
Impairment - Fixed Assets — — — 0.0 8.8
Interest Income - Non-Bank 0.1 — — — —
Fair Value Adjustments - Financial Investments 3.1 3.3 — — —
Provision for Income Tax Expense- Unclassified 80.0 (330.3) 237.6 79.1 44.9
Income before Taxes 116.7 (309.2) 578.7 (119.8) 68.5
Income Taxes 80.0 (330.3) 237.6 79.1 44.9
Fair Value Adjustments - Biological Assets 7.9 8.2 — — —
Net Income after Tax 36.6 21.1 341.0 (198.9) 23.7
After-Tax Adjustments - Other - Income/(Expense) - Total — — 0.0 — —
Income before Discontinued Operations & Extraordinary Items 36.6 21.1 341.0 (198.9) 23.7
Net Income before Minority Interest 36.6 21.1 341.0 (198.9) 23.7
Net Income after Minority Interest 36.6 21.1 341.0 (198.9) 23.7
Income Available to Common Shares 36.6 21.1 341.0 (198.9) 23.7
DPS - Common - Gross - Issue - By Period End Date Rs 0.00 0.00 0.00 0.00 0.00
Net Income - Basic - including Extraordinary Items Applicable to Common - Total 36.6 21.1 341.0 (198.9) 23.7
Income available to Common excluding Extraordinary Items 36.6 21.1 341.0 (198.9) 23.7
Shares used to calculate Basic EPS - Total mn 68.3 61.2 54.7 54.0 42.3
EPS - Basic - including Extraordinary Items Applicable to Common - Total Rs 0.54 0.34 6.24 (3.68) 0.56
EPS - Basic - excluding Extraordinary Items Applicable to Common - Total Rs 0.54 0.34 6.24 (3.68) 0.56
EPS - Basic - excluding Extraordinary Items - Normalized - Total Rs 0.38 0.16 6.24 (3.68) 0.77
Allocated Net Income including Extraordinary Items Applicable to Common - Issue Specific 36.6 21.1 341.0 (198.9) 23.7
Earnings Allocation Factor - Basic - Issue Specific 1.00× 1.00× 1.00× 1.00× 1.00×
Shares used to calculate Basic EPS - Issue Specific mn 68.3 61.2 54.7 54.0 42.3
EPS - Basic - including Extraordinary Items Applicable to Common - Issue Specific Rs 0.54 0.34 6.24 (3.68) 0.56
EPS - Basic - excluding Extraordinary Items Applicable to Common - Issue Specific Rs 0.54 0.34 6.24 (3.68) 0.56
EPS - Basic - excluding Extraordinary Items - Normalized - Issue Specific Rs 0.38 0.16 6.24 (3.68) 0.77
EPS - Basic from Discontinued Operations & Extraordinary Items Rs 0.00 0.00 0.00 0.00 0.00
Dilution Adjustment — — — — —
Net Income - Diluted - including Extraordinary Items Applicable to Common - Total 36.6 21.1 341.0 (198.9) 23.7
Diluted Income available to Common excluding Extraordinary Items 36.6 21.1 341.0 (198.9) 23.7
Shares used to calculate Diluted EPS - Total mn 68.3 61.2 54.7 54.0 42.3
EPS - Diluted - including Extraordinary Items Applicable to Common - Total Rs 0.54 0.34 6.24 (3.68) 0.56
EPS - Diluted - excluding Extraordinary Items Applicable to Common - Total Rs 0.54 0.34 6.24 (3.68) 0.56
EPS - Diluted - excluding Extraordinary Items - Normalized - Total Rs 0.38 0.16 6.24 (3.68) 0.77
Allocated Diluted Net Income including Extraordinary Items Applicable to Common - Issue Specific 36.6 21.1 341.0 (198.9) 23.7
Earnings Allocation Factor - Diluted - Issue Specific 1.00× 1.00× 1.00× 1.00× 1.00×
Shares used to calculate Diluted EPS - Issue Specific mn 68.3 61.2 54.7 54.0 42.3
EPS - Diluted - including Extraordinary Items Applicable to Common - Issue Specific Rs 0.54 0.34 6.24 (3.68) 0.56
EPS - Diluted - excluding Extraordinary Items Applicable to Common - Issue Specific Rs 0.54 0.34 6.24 (3.68) 0.56
EPS - Diluted - excluding Extraordinary Items - Normalized - Issue Specific Rs 0.38 0.16 6.24 (3.68) 0.77
EPS - Diluted from Discontinued Operations & Extraordinary Items Rs 0.00 0.00 0.00 0.00 0.00
DPS - Common - Gross - Issue - By Announcement Date Rs 0.00 0.00 0.00 0.00 0.00
DPS - Common - Net - Issue - By Announcement Date Rs 0.00 0.00 0.00 0.00 0.00
Earnings before Interest & Taxes (EBIT) (206.0) (776.8) 589.3 186.4 237.4
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) (17.7) (582.3) 753.9 351.1 398.2
Depreciation & Amortization - Supplemental 188.3 194.4 164.6 164.7 160.8
Depreciation Expense - Total - Supplemental 188.3 194.4 164.6 164.7 160.8
Depreciation - Financial Lease Right-of-Use Assets - Supplemental 17.3 15.1 6.1 7.0 3.9
Amortization - Total - Supplemental — — — — —
Depreciation, Depletion & Amortization - Total 188.3 194.4 164.6 164.7 160.8
Depreciation - Total 188.3 194.4 164.6 164.7 160.8
Amortization of Intangible Assets excluding Goodwill - Total — — — — —
Normalized after Tax Profit 25.7 9.7 341.0 (198.9) 32.4
Normalized Net Income from Continuing Operations 25.7 9.7 341.0 (198.9) 32.4
Normalized Net Income - Bottom Line 25.7 9.7 341.0 (198.9) 32.4
Earnings before Interest & Taxes (EBIT) - Normalized 217.7 (81.2) 1,061.0 294.9 382.8
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) - Normalized 406.0 113.2 1,225.6 459.7 543.6
Depreciation of Financial Lease Right-of-Use Assets 17.3 15.1 6.1 7.0 3.9
Interest Expense on Financial Lease Liabilities - Supplemental 9.6 14.5 4.3 — —
Interest Expense 112.1 239.4 482.3 414.7 305.5
Operating Expenses 7,757.8 7,653.3 7,243.5 6,100.2 5,911.1
Selling, General & Administrative Expenses excluding Research & Development Expenses 386.3 355.3 329.3 269.5 229.7
Income before Taxes & Provision for Loan Losses 116.7 (309.2) 578.7 (119.8) 68.5
Cost of Revenue including Operation & Maintenance (Utility) - Total 7,353.0 7,295.6 6,859.6 5,806.4 5,672.5
Cost of Revenues excluding Depreciation 7,194.9 7,131.1 6,716.1 5,662.0 5,528.2
DPS - Common - Gross - Issue - By Payable Date Rs 0.00 0.00 0.00 0.00 0.00
DPS - Common - Gross - Issue - By Ex Date Rs 0.00 0.00 0.00 0.00 0.00
Tax Adjusted Operating Income 71.8 — 625.3 — 129.1
Operating Expenses excluding Non-Cash Charges - Total 7,569.6 7,458.8 7,078.9 5,935.4 5,750.3
Income Available to Common Shares before Depreciation & Amortization 224.9 215.6 505.7 (34.1) 184.5
Fixed Charges 112.1 239.4 482.3 414.7 305.5
Estimated Tax Rate 0.29× 0.29× 0.29× 0.29× 0.29×
Total Common & Spl DPS -Gross - Issue - By Announcement Date Rs 0.00 0.00 0.00 0.00 0.00

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