PIA Holding Company Balance Sheet

Financials in millions PKR. Fiscal year is January - December.

Millions PKR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	17,422	16,352	9,272	13,410	14,011	7,540
Short-Term Investments	-	-	-	-	19.22	19.22
Cash & Short-Term Investments	17,422	16,352	9,272	13,410	14,031	7,559
Cash Growth	9.20%	76.35%	-30.85%	-4.42%	85.62%	-57.44%
Accounts Receivable	12,593	13,005	16,244	20,960	15,174	10,083
Other Receivables	16,930	13,105	5,642	6,769	7,092	16,951
Receivables	29,523	26,110	21,885	27,729	22,266	27,033
Inventory	5,476	4,304	4,148	3,579	2,949	2,979
Prepaid Expenses	-	635.48	1,058	848.71	1,363	1,426
Restricted Cash	-	121.35	3,168	-	2.15	103.2
Other Current Assets	19,872	17,420	18,460	8,686	7,584	6,950
Total Current Assets	72,294	64,943	57,991	54,252	48,196	46,050
Property, Plant & Equipment	314,258	309,305	322,794	161,566	146,162	138,955
Long-Term Investments	144.63	144.63	351.54	431.39	371.2	266.13
Goodwill	-	9,522	9,608	7,353	5,732	5,191
Other Intangible Assets	9,706	164.28	282.75	311.1	290.59	335.03
Other Long-Term Assets	10,620	12,183	11,177	97,351	84,805	75,682
Total Assets	407,023	396,262	402,203	321,265	285,557	266,480
Accounts Payable	314,761	332,685	70,331	54,932	36,469	39,380
Accrued Expenses	111,476	107,912	200,325	139,292	114,178	114,485
Short-Term Debt	7,111	-	47,723	30,388	30,580	30,577
Current Portion of Long-Term Debt	49,939	30,768	71,097	62,217	51,993	68,412
Current Portion of Leases	-	-	-	5,831	5,844	9,025
Current Income Taxes Payable	7,355	5,859	4,108	2,630	1,182	655.6
Current Unearned Revenue	-	-	18,693	19,960	11,721	6,770
Other Current Liabilities	65.63	3,069	98,936	71,671	64,238	60,223
Total Current Liabilities	490,708	480,294	511,214	386,921	316,206	329,527
Long-Term Debt	410,998	398,460	320,282	326,953	302,573	235,194
Long-Term Leases	9,117	14,427	21,031	16,326	10,348	8,316
Long-Term Unearned Revenue	-	493.49	2,184	-	-	-
Pension & Post-Retirement Benefits	-	51,054	50,984	43,883	39,279	39,678
Long-Term Deferred Tax Liabilities	7,797	6,325	41,294	29,855	27,511	25,031
Other Long-Term Liabilities	65,278	8,493	8,315	7,323	4,420	2,176
Total Liabilities	983,898	959,546	955,304	811,261	700,337	639,923
Common Stock	52,345	52,345	52,345	52,345	52,345	52,345
Retained Earnings	-794,404	-772,742	-758,066	-650,276	-560,310	-511,908
Comprehensive Income & Other	158,095	151,114	146,709	103,121	89,578	82,969
Total Common Equity	-583,964	-569,283	-559,012	-494,810	-418,386	-376,594
Minority Interest	7,089	5,999	5,911	4,814	3,606	3,151
Shareholders' Equity	-576,875	-563,284	-553,101	-489,996	-414,780	-373,443
Total Liabilities & Equity	407,023	396,262	402,203	321,265	285,557	266,480
Total Debt	477,165	443,655	460,133	441,716	401,338	351,524
Net Cash (Debt)	-459,742	-427,303	-450,860	-428,306	-387,308	-343,965
Net Cash Per Share	-87.82	-81.62	-86.12	-81.81	-73.98	-65.70
Filing Date Shares Outstanding	-	5,235	5,235	5,235	5,235	5,235
Total Common Shares Outstanding	-	5,235	5,235	5,235	5,235	5,235
Working Capital	-418,414	-415,351	-453,223	-332,669	-268,011	-283,478
Book Value Per Share	-	-108.74	-106.78	-94.51	-79.92	-71.93
Tangible Book Value	-593,670	-578,970	-568,902	-502,474	-424,409	-382,120
Tangible Book Value Per Share	-	-110.59	-108.67	-95.98	-81.07	-72.99
Land	-	29,156	15,783	8,618	9,230	9,314
Buildings	-	17,636	17,422	13,957	14,201	14,553
Machinery	-	161,804	161,008	154,684	152,092	147,280
Construction In Progress	-	391.12	578.9	396.48	534.29	2,154

Source: S&P Global Market Intelligence. Standard template. Financial Sources.