Karachi: Gharibwal Cement Limited has reported a significant financial downturn for the first quarter ending September 30, 2026, as detailed in its unaudited interim financial statements released on October 27, 2026. The company's profit after tax (PAT) witnessed a drastic 97% decline to Rs. 9.068 million, driven by a 31% decrease in cement dispatches compared to the corresponding period last year.

The decline in dispatches was attributed to a temporary suspension of clinker production, caused by damage to the kiln ID fan. Despite this, Gharibwal Cement continued to meet customer demand using available clinker stocks and by purchasing additional clinker from other companies. The higher cost of these purchases, coupled with reduced production, negatively impacted gross profits, which fell by 54%.

According to information available from the Pakistan Stock Exchange (PSX), the market observed these financial strains amidst the company's operational challenges. Gharibwal Cement's management has indicated that the damaged kiln ID fan is currently in transit, with replacement efforts expected to conclude in November 2026. The company plans to resume normal production afterward, aiming to recover dispatch volumes and meet annual targets by the financial year's end.

The company emphasized its commitment to operational recovery, cost management, and margin improvement to alleviate the financial impacts of the unplanned production halt. Gharibwal Cement expressed gratitude to its stakeholders, including bankers, financial institutions, dealers, and shareholders, for their continued support and confidence.