Karachi: Al-Abid Silk Mills Ltd. has disclosed its financial performance for the fiscal year ending June 30, 2026, revealing a challenging period marked by a significant financial loss. The announcement was made following a Board of Directors meeting held on October 1, 2026.

The company reported sales of Rs. 939,316, while the cost of sales soared to Rs. 137.96 million, culminating in a gross loss of Rs. 137.02 million. The financial results show a deterioration compared to the previous year, as the gross loss in 2025 was Rs. 101.10 million. Operating expenses included administrative costs amounting to Rs. 48.78 million, offset by other income of Rs. 49.06 million. Despite this income, the company faced a loss from operations totaling Rs. 136.74 million, slightly improved from the previous year's Rs. 138.64 million.

The finance cost for the year was recorded at Rs. 4.54 million, resulting in a loss before levy and taxation of Rs. 141.28 million. After accounting for a levy of Rs. 588,797, Al-Abid Silk Mills Ltd. registered a loss before taxation of Rs. 141.87 million. Notably, no taxation expenses were reported for the year, leading to a loss after taxation of the same amount.

A comprehensive loss of Rs. 141.85 million was reported for the year, a stark contrast to the previous year's comprehensive income of Rs. 454.02 million. This shift is partly due to the absence of revaluation gains on property, plant, and equipment, which contributed Rs. 592.80 million to the comprehensive income in 2025.

According to information available from the Pakistan Stock Exchange (PSX), Al-Abid Silk Mills Ltd. declared no final cash dividend for the year ending June 30, 2026. An interim dividend was also not provided, indicating a challenging financial environment for the company. Additionally, the loss per share, both basic and diluted, was reported at Rs. 10.58, marking a moderate move from the previous year's Rs. 10.36.

The company's financial statements reflect a significant decline in performance, with a total comprehensive loss influenced by increased operational costs and the absence of previous revaluation gains. As the fiscal challenges persist, Al-Abid Silk Mills Ltd. faces a critical period ahead, requiring strategic adjustments to navigate the financial landscape.