Karachi: Artistic Denim Mills Limited, a prominent name in the textile industry, released its financial results for the year ended June 30, 2026, revealing a comprehensive loss despite efforts to stabilize operations. The Board of Directors, in a meeting held on September 24, 2026, at the company’s registered office, announced several key financial decisions which are expected to be discussed in the forthcoming Annual General Meeting scheduled for October 28, 2026.

The company's financial report highlighted a net loss of Rs. 435.79 million for the year, a slight improvement from the previous year's loss of Rs. 451.10 million. The total comprehensive loss for the year was reported as Rs. 367.35 million, compared to Rs. 345.67 million in 2025. Despite the extensive losses, the company recorded an actuarial gain on the defined benefit plan amounting to Rs. 68.44 million, down from Rs. 105.43 million the previous year.

According to information available from the Pakistan Stock Exchange (PSX), Artistic Denim Mills Limited's total assets stood at Rs. 23.10 billion, marking a significant move with a decrease from Rs. 24.49 billion in 2025. The company's non-current assets decreased to Rs. 10.54 billion from Rs. 11.29 billion, while current assets also saw a decline to Rs. 12.57 billion from Rs. 13.19 billion.

The Board has unanimously decided to maintain the number of Directors at seven for the upcoming three-year term starting November 23, 2026. The election for these positions will occur during the forthcoming Annual General Meeting. The company also announced that there would be no cash dividend, bonus shares, or right shares distributed this year, reflecting a cautious financial approach amidst the current fiscal landscape.

In terms of liabilities, Artistic Denim Mills Limited reported an increase in non-current liabilities to Rs. 4.34 billion from Rs. 2.55 billion, while current liabilities decreased to Rs. 11.46 billion from Rs. 14.27 billion. The company’s issued, subscribed, and paid-up capital remained constant at Rs. 840.00 million, with reserves decreasing to Rs. 6.46 billion from Rs. 6.83 billion, indicating a depletion in retained earnings.

The company's share transfer books will be closed from October 20, 2026, to October 28, 2026, inclusive, with transfers received by October 19, 2026, being eligible for consideration at the Annual General Meeting. The Annual Report for the year is expected to be circulated at least 21 days prior to the meeting, providing shareholders ample time to review the company's financial status and strategic direction.