Lahore: Mughal Iron & Steel Industries Limited, a prominent player in the steel sector, has announced its audited financial results for the fiscal year ending June 30, 2026. This announcement was made following a board meeting held on September 15, 2026, at the company’s Lahore office.
The financial results reflect a significant improvement in the company's profitability. The profit for the year rose to Rs. 2.49 billion, a substantial increase from Rs. 965.52 million recorded in the previous year. Earnings per share also witnessed a noteworthy rise, reaching Rs. 6.75 from Rs. 2.83 in 2025. The company's gross profit increased to Rs. 8.66 billion from Rs. 8.14 billion, despite a decrease in net sales to Rs. 77.96 billion from Rs. 89.41 billion in the prior year.
According to information available from the Pakistan Stock Exchange (PSX), Mughal Iron & Steel Industries has recommended a final cash dividend of Rs. 2.00 per ordinary share, translating to a dividend yield of 20%. The dividend will be payable to shareholders registered by October 19, 2026.
In the area of assets, the company reported a significant increase in its property, plant, and equipment, which now stand at Rs. 31.42 billion compared to the previous year's Rs. 20.36 billion. Current assets also saw an increase, totaling Rs. 50.83 billion from Rs. 41.63 billion. This increase is largely attributed to a rise in trade debts, which grew to Rs. 22.85 billion from Rs. 15.23 billion.
The company's liabilities have also grown, with total liabilities now recorded at Rs. 49.88 billion, up from Rs. 38.87 billion the previous year. This increase is primarily due to a rise in long-term financing, which has reached Rs. 13.29 billion from Rs. 4.04 billion, and deferred taxation, now at Rs. 5.55 billion from Rs. 2.45 billion.
The board also proposed several corporate actions subject to shareholder approval. These include the provision of a Rs. 500 million finance facility and a Rs. 3 billion corporate guarantee facility to its subsidiary, Mughal Energy Limited. Additionally, the board seeks to amend the company's Memorandum and Articles of Association to increase its authorized share capital and allow the issuance of Ordinary Class-B shares.
The Annual General Meeting of the company is scheduled for October 28, 2026, at Avari Hotel in Lahore, where these proposals will be discussed. Share transfer books will be closed from October 20 to October 28, 2026, ensuring that only those registered by October 19, 2026, will be eligible for the dividend and voting rights at the meeting.
Mughal Iron & Steel Industries continues to demonstrate resilience and strategic growth in its financial performance, positioning itself strongly within the designated market category of the steel sector.