Karachi: International Knitwear Limited released its mandatory Shariah disclosures for the fiscal year ending June 30, 2026, as part of compliance with the Pakistan Stock Exchange's (PSX) regulatory requirements. The report, dated October 12, 2026, offers a detailed insight into the company's financial position and performance, highlighting a mixture of Shariah-compliant and non-compliant elements.
The company's financial statements reveal significant movements in various areas. Long-term investments, identified as Shariah compliant, rose to 36.02 million rupees from 29.91 million rupees in the previous year. Similarly, short-term investments, also Shariah compliant, increased to 49.66 million rupees from 42.61 million rupees. Conversely, cash and bank balances, while compliant with Shariah principles, saw a decrease to 2.25 million rupees from 2.65 million rupees.
In contrast, non-Shariah compliant accrued markup remained unchanged at 3.35 million rupees. However, the company's reliance on non-Shariah compliant short-term loans showed a considerable decline to 243.82 million rupees from 402.87 million rupees in 2025, indicating a significant move.
According to information available from the Pakistan Stock Exchange (PSX), the statement of profit or loss highlights a substantial decrease in revenue from Shariah-compliant contracts, falling to 863.52 million rupees from 1.21 billion rupees, marking a very large or significant move. The profit on bank accounts, categorized as non-Shariah compliant, also decreased to 456,282 rupees from 706,810 rupees.
The company reported an unrealized gain on revaluation of Shariah-compliant investments, increasing to 2.92 million rupees from 2.27 million rupees. Meanwhile, gains on the disposal of investments and fixed assets remained relatively stable. The exchange loss, previously a gain of 47,605 rupees, shifted to a loss of 892,532 rupees, showcasing a very large or significant move.
Finance costs, which are non-Shariah compliant, rose to 40.34 million rupees from 29.44 million rupees, reflecting a big move. The company also recorded a deferred income of 951,410 rupees, a new entry for the year.
International Knitwear Limited maintains relationships with Shariah-compliant banks, including Dubai Islamic Bank and Faysal Bank Limited, for bank balances. These affiliations underpin the company's ongoing commitment to adhering to Shariah principles where feasible.
Overall, the disclosures provide a comprehensive overview of International Knitwear Limited's financial activities, highlighting both compliance with Shariah principles and areas where traditional financial instruments are utilized.