Lahore: Abdullah Shah Ghazi Sugar Mills Limited disclosed its financial performance for the nine-month period ending June 30, 2026, reporting substantial losses and a complete lack of dividend distribution. The company's Board of Directors convened on July 27, 2026, recommending no cash dividends, bonus shares, right shares, or any other corporate entitlements for the shareholders.
According to the financial statements, the company reported a loss after taxation of 192.08 million rupees for the nine months ending June 2026, compared to a loss of 175.90 million rupees during the same period the previous year. The absence of sales revenue for the recent nine-month period, in stark contrast to the 260.87 million rupees reported in the prior corresponding period, underscores the challenges faced by the company.
The cost of sales decreased significantly to 162.41 million rupees from 457.21 million rupees, resulting in a gross loss of 162.41 million rupees, compared with a gross loss of 196.34 million rupees in the preceding year. Operating expenses, specifically administrative and general expenses, saw a slight increase, totaling 12.01 million rupees from the previous 11.35 million rupees.
Despite a marginal reduction in finance costs, which stood at 101.48 million rupees compared to 100.35 million rupees the previous year, the company recorded a loss before taxation of 265.72 million rupees. Taxation contributed positively, with a credit of 73.64 million rupees, slightly mitigating the pre-tax losses.
Notably, the company's cash flows from operating activities exhibited a net outflow of 147.19 million rupees, indicating increased challenges in managing liquidity. In contrast, financing activities generated a net cash inflow of 181.26 million rupees, primarily due to a long-term unsecured loan from a related party amounting to 193.26 million rupees.
The financial results have been disseminated to shareholders through the Pakistan Stock Exchange's designated market category. According to information available from the Pakistan Stock Exchange (PSX), the absence of any sales revenue during the nine-month period represents a very large or significant move, underscoring the company's current predicament.
As of the end of June 2026, the company's cash and bank balances showed an improvement, rising to 23.92 million rupees from 8.28 million rupees at the same time the previous year. Despite this, the ongoing operational losses and the lack of dividend payouts may weigh heavily on shareholder sentiment as the company navigates through challenging market conditions.