Faisalabad: Sitara Energy Limited, a key player in the energy sector, reported its financial outcomes for the fiscal year concluding on June 30, 2026. The Board of Directors, during their assembly on October 2, 2026, disclosed that there would be no interim cash dividend, bonus shares, or right shares for the stakeholders. The meeting, held at 3:00 p.m. in Faisalabad, also revealed no additional entitlements or corporate actions forthcoming.
The financial report highlights a considerable downturn in the company's net sales and profit margins. For the year ended June 30, 2026, Sitara Energy's net sales plummeted to 33.20 million rupees from 176.07 million rupees recorded in the previous fiscal year. This sharp decline in sales represents a very large or significant move, prompting concerns within the company's designated market category. Consequently, the gross loss narrowed to 13.49 million rupees, compared to a gross loss of 38.59 million rupees last year.
Despite the decrease in sales, Sitara Energy's other income was reported at 171.17 million rupees, down from 360.66 million rupees in the previous year. The total profit for the year, before levies and income tax, stood at 43.15 million rupees, a significant drop from 172.43 million rupees in 2025. Ultimately, the profit for the year diminished to 36.29 million rupees from the previous year's 167.14 million rupees.
According to information available from the Pakistan Stock Exchange (PSX), this financial downturn has not prompted any immediate changes in shareholder entitlements or corporate actions. The company's earnings per share also fell to 1.90 rupees, in contrast to 8.75 rupees last year, reflecting the overall decline in financial performance.
On the balance sheet, Sitara Energy's total equity and liabilities witnessed a decrease. The company's equity, including issued, subscribed, and paid-up capital, along with reserves, was noted at 1.38 billion rupees, experiencing a minor increase from 1.34 billion rupees in the preceding year. However, total non-current liabilities saw a substantial reduction from 497.16 million rupees to 359.88 million rupees, driven primarily by decreased long-term financing needs.
The company's assets also showcased a downward trend. Non-current assets were valued at 1.62 billion rupees, declining from 1.87 billion rupees recorded in the previous fiscal year. Current assets slightly decreased to 998.06 million rupees from 1.03 billion rupees, reflecting the broader financial challenges faced by the company.
This financial report underscores the significant challenges confronting Sitara Energy Limited in an increasingly competitive and volatile market environment. The company's strategic decisions in the upcoming year will be crucial in navigating these financial setbacks.