Karachi: Gulistan Textile Mills Limited, in its Director’s Report to Shareholders dated April 28, 2026, has disclosed continued financial losses for the nine-month period ending March 31, 2026. The audited financial statements reveal a pre-tax loss of 24,276,599 rupees, an improvement from the pre-tax loss of 44,578,469 rupees reported for the same period in 2025. After accounting for a taxation provision of 593,400 rupees, the company recorded a post-tax loss of 24,869,999 rupees.

The company has embarked on a debt restructuring process with key financial institutions, aiming to stabilize its financial standing. This initiative follows the approval of a Scheme of Arrangement by the Sindh High Court in Karachi on November 24, 2021. The scheme is intended to resolve ongoing litigation with banks, which will be withdrawn as part of the arrangement.

According to information available from the Pakistan Stock Exchange (PSX), the restructuring is anticipated to be completed soon. The company believes that finalizing this process will enhance its ability to strategize and plan for future operations.

The board has expressed gratitude to its employees and management team for their dedication and hard work during these challenging times. The company remains focused on completing the restructuring to improve its financial trajectory in the coming months.