Karachi: SPEL Limited conducted its Corporate Briefing Session for the fiscal year ending June 30, 2026, revealing a decline in annual profits and a reduction in net sales. The company's financial report, dated November 4, 2026, highlighted several key metrics affecting the company's financial performance over the past fiscal year.
SPEL Limited's net sales for the year ended June 30, 2026, stood at 9.41 billion rupees, showing a decrease from the previous year's 9.63 billion rupees. The cost of sales amounted to 6.94 billion rupees, representing 73.73% of sales, a slight increase from the 73.14% reported last year. The gross profit declined from 2.59 billion rupees in the previous year to 2.47 billion rupees, translating to a gross profit margin of 26.27%.
The company's operating profit also experienced a reduction, registering 1.94 billion rupees, down from last year's 2.07 billion rupees. This decline was attributed to higher administrative and selling expenses, which were recorded at 464.69 million rupees and 88.70 million rupees, respectively. A notable improvement was seen in the impairment reversal on financial assets, which added 18.46 million rupees to the income, compared to a loss of 32.34 million rupees in the previous year.
According to information available from the Pakistan Stock Exchange (PSX), the profit before taxation saw a decline from 1.99 billion rupees to 1.86 billion rupees, reflecting a reduced profit margin of 19.72%, down from 20.67% last year. After accounting for taxation of 718.93 million rupees, the profit after taxation fell to 1.14 billion rupees, marking a decrease from the previous year's 1.25 billion rupees. This represents a significant move in the company's financial performance.
The earnings per share also decreased from 6.60 rupees to 5.99 rupees. The statement of financial position as of June 30, 2026, showed total assets and liabilities amounting to 9.79 billion rupees, an increase from last year's 8.25 billion rupees. The company's equity, including retained earnings and revaluation surplus on land, grew to 7.32 billion rupees from 6.11 billion rupees.
SPEL Limited's non-current assets, which include operating fixed assets and capital work in progress, increased to 5.17 billion rupees, while current assets rose to 4.62 billion rupees. Current liabilities, on the other hand, saw an increase to 1.56 billion rupees, up from 1.21 billion rupees in the previous year.
The briefing session provided an overview of the company's financial position and operational challenges faced during the fiscal year. The market remains attentive to the company's strategic responses to these financial results and its plans for the upcoming fiscal year.