Karachi: Agha Steel Industries Limited disclosed a comprehensive financial loss for the fiscal year ending June 30, 2026, as reported in a company document dated September 24, 2026. The report, emerging from a Board of Directors meeting held on September 23, 2026, outlined significant declines in both revenue and profit margins.
The company reported a net turnover of 8.39 billion rupees, down from 10.67 billion rupees in the previous year, marking a substantial revenue decrease. The cost of sales outweighed the turnover, leading to a gross loss of 2.35 billion rupees, compared to a gross loss of 1.98 billion rupees the previous year. This decline in revenue contributed to an operating loss of 6.02 billion rupees, down from 7.05 billion rupees in the previous fiscal year.
Administrative expenses reduced slightly to 456.01 million rupees from 528.72 million rupees, while selling and distribution costs decreased to 331.71 million rupees from 351.03 million rupees. Finance costs also saw a downward trend to 2.88 billion rupees from 4.20 billion rupees, contributing to an overall loss before taxation of 6.34 billion rupees, compared to 7.97 billion rupees in the previous year.
The net loss after taxation for the company stood at 4.74 billion rupees, a significant increase from the 1.21 billion rupees loss reported the previous year. This loss was partially offset by a surplus on revaluation of fixed assets amounting to 1.20 billion rupees. The total comprehensive loss for the year was 3.54 billion rupees, down from a loss of 7.21 billion rupees in the previous year.
According to information available from the Pakistan Stock Exchange (PSX), the financial results indicate a challenging period for Agha Steel Industries, with no dividends, bonus shares, or rights shares announced for the year. The company has also stated that there will be no other entitlement or corporate actions.
Cash flow from operating activities showed a positive net increase, with cash and cash equivalents at the end of the year rising to 195.78 million rupees from 48.46 million rupees at the beginning, reflecting improved cash management despite the overall financial loss. The company's cash flows from financing activities also generated 77.50 million rupees, although cash flows used in investing activities resulted in a 69.51 million rupees deficit.
The Annual General Meeting of Agha Steel Industries is scheduled for October 28, 2026, at the company's premises in Port Qasim, Karachi, with provisions for video conference facilities. The meeting will discuss the financial results and future strategies amid the ongoing financial challenges faced by the company. The share transfer books are set to close from October 21 to October 28, 2026, inclusive, with transfers needing to be submitted by October 20, 2026, to be considered for entitlements.