RAWALPINDI: Agritech Limited has disclosed its financial results for the half year ending June 30, 2026, revealing a significant downturn in profitability. The company reported a net loss of approximately 2.12 billion rupees for the six-month period, a stark contrast to the net profit of around 2.24 billion rupees recorded during the same period in 2025.

The announcement was made during a Board of Directors meeting held on July 29, 2026, in Rawalpindi. The board recommended no cash dividends, bonus shares, right shares, or any other entitlements for the shareholders. According to the financial statements, Agritech’s total equity and liabilities increased to approximately 95.47 billion rupees, up from 92.84 billion rupees at the end of 2025.

A closer look at the interim statement shows that sales revenue for the first half of 2026 stood at approximately 15.49 billion rupees, up from about 13.21 billion rupees in the first half of the previous year. However, the cost of sales surged to nearly 14.89 billion rupees, reducing the gross profit to approximately 602.68 million rupees, compared to 2.08 billion rupees in the corresponding period of 2025.

Selling and distribution expenses increased slightly to around 952.77 million rupees, while administrative and general expenses decreased to approximately 434.78 million rupees. Despite these figures, the company reported an operating loss of about 784.88 million rupees, compared to an operating profit of approximately 692.14 million rupees in the first half of the prior year.

The finance costs remained high at approximately 1.86 billion rupees, contributing to the loss before taxation of roughly 2.43 billion rupees. Agritech's earnings per share fell to negative 3.54 rupees, from a positive 3.74 rupees in the previous year.

According to information available from the Pakistan Stock Exchange (PSX), the company's short-term borrowings decreased to approximately 864.56 million rupees from 990.90 million rupees at the end of 2025. Current liabilities rose significantly to about 49.40 billion rupees from 44.33 billion rupees, driven primarily by an increase in preference dividend payable, which reached approximately 31.97 billion rupees.

Overall, Agritech Limited’s financial performance for the first half of 2026 indicates a very large move in financial loss, reflecting challenging market conditions and internal financial pressures. The company’s management has yet to announce any strategic initiatives to counteract the downturn and improve profitability in the forthcoming quarters.