Lahore: Ashfaq Textile Mills Ltd. released its 38th annual report on October 5, 2026, detailing a significant financial downturn for the fiscal year ending June 30, 2026. The company reported a net loss of Rs. 16,901,939 compared to a profit of Rs. 5,994,049 in the previous year, reflecting a very large or significant move in its financial performance.

The statement of financial position revealed the company's total assets stood at Rs. 1,242,665,144, a decrease from Rs. 1,275,978,350 in 2025. The equity and liabilities also showed a contraction, with total equity and liabilities mirroring the asset figure, marking a decline from the previous year's Rs. 1,275,978,350.

Revenue from sales was reported at Rs. 459,419,896, showing a minor move from Rs. 454,188,824 in the previous fiscal year. However, the company faced increased cost of sales, which rose to Rs. 439,569,372 from Rs. 411,553,145, leading to a reduction in gross profit to Rs. 19,850,524 from Rs. 42,635,679.

According to information available from the Pakistan Stock Exchange (PSX), the company's issued, subscribed, and paid-up capital remained unchanged at Rs. 465,650,350. The surplus on revaluation of property, plant, and equipment decreased to Rs. 390,827,345 from Rs. 406,916,694, contributing to the overall decrease in revenue reserves. The unappropriated profit also fell to Rs. 123,243,380 from Rs. 125,934,870.

Non-current liabilities showed a slight decrease to Rs. 220,763,554 from Rs. 222,962,716, primarily due to adjustments in deferred taxation. Current liabilities decreased as well, with trade and other payables dropping to Rs. 42,180,514 from Rs. 54,513,720.

The company's earnings per share turned negative, recorded at Rs. (0.36) compared to Rs. 0.13 in 2025. This reflects the challenging conditions faced by the company in the designated market category, exacerbated by rising costs and reduced profitability.

Overall, Ashfaq Textile Mills Ltd. experienced a challenging fiscal year with substantial financial setbacks, highlighting the pressures faced within the textile industry over the period.