Karachi: ARM Green Industries Limited, formerly known as Calcorp Limited, has reported a financial loss for the fiscal year ending June 30, 2026, amid a strategic transformation from its previous vehicle hire business to the assembly and manufacturing of solar panels and related products. The company's Annual Report, released on October 6, 2026, detailed the financial outcomes and corporate developments that characterized this period of significant change.
The company, which completed a full acquisition of Helios Resol Technology (Private) Limited in December 2025, has ceased its previous line of income from vehicle hire services. The acquisition was a key step in ARM Green Industries' transition to the renewable energy sector, specifically focusing on solar technology. This strategic shift was solidified with the approval from shareholders and the Securities and Exchange Commission of Pakistan (SECP) for a name change effective January 22, 2026, reflecting the new business focus.
Financial results for the year revealed a significant shift with no income from the former vehicle hire operations. The cost of sales was recorded at Rs. 0.31 million, associated with the initial phase of the solar business, leading to a gross loss. Administrative and operating expenses rose to Rs. 13.62 million from Rs. 10.68 million in the previous year, largely due to costs incurred from the acquisition of Helios and the transition process. Other income, however, remained a substantial source of earnings at Rs. 14.89 million, slightly down from Rs. 15.40 million in the prior year.
According to information available from the Pakistan Stock Exchange (PSX), the company's financial charges saw a significant movement, increasing from Rs. 1,725 to Rs. 25,231. The profit before income tax fell dramatically from Rs. 15.21 million to Rs. 0.93 million, and after accounting for current income tax of Rs. 5.16 million, the company recorded a loss after tax of Rs. 4.23 million, compared to a profit after tax of Rs. 10.47 million the previous year. This resulted in a loss per share of Rs. 0.39, down from earnings per share of Rs. 0.97.
The Board of Directors attributed these financial results to the planned transitional and start-up costs associated with entering the renewable energy market. The board does not view the current year's performance as indicative of future expectations, anticipating better results once Helios' operations are fully commercialized.
Given the financial loss and the investment needs of the new business, the Board has decided not to declare a dividend for the fiscal year ending June 30, 2026.