Faisalabad: Ashfaq Textile Mills Limited has announced its financial results for the quarter ended March 31, 2026, revealing substantial losses amid declining sales figures. The Board of Directors, in their meeting held on April 28, 2026, at the company’s registered office in Faisalabad, confirmed these outcomes.
The textile company reported sales of 88.99 million rupees for the quarter, a significant move with a decrease from 106.71 million rupees in the corresponding period of the previous year. The cost of goods sold exceeded sales, reaching 91.40 million rupees, resulting in a gross loss of 2.41 million rupees. This marks a reversal from the previous year’s gross profit of 70.97 million rupees.
The company cited other operating income of 672,200 rupees, a slight increase compared to 505,562 rupees in the same quarter last year. However, the financial challenges were exacerbated by distribution costs and administrative expenses totaling 8.28 million rupees, contributing to a pre-tax loss of 10.02 million rupees.
According to information available from the Pakistan Stock Exchange (PSX), Ashfaq Textile Mills’ net loss for the period was recorded at 11.27 million rupees, contrasting sharply with a profit of 12.24 million rupees in the year-ago quarter. Earnings per share were reported as a negative 0.241 rupees, compared to a positive 0.26 rupees previously.
The company has opted not to declare any cash dividends, bonus issues, or right shares for the quarter. The decision is in line with the absence of interim dividends and bonus shares previously issued.
On the balance sheet, Ashfaq Textile Mills reported total equity and liabilities of 1.24 billion rupees as of March 31, 2026, down from 1.28 billion rupees in June 2025. Non-current liabilities stood at 218.37 million rupees, while current liabilities were reported at 37.53 million rupees, reflecting a decrease from the previous year.
Assets were valued at 1.24 billion rupees, with non-current assets, including property, plant, and equipment, accounting for 972.99 million rupees. Current assets amounted to 271.20 million rupees, with trade debts and cash balances featuring prominently.
The company’s financial performance underscores the challenges faced in an increasingly competitive textile market.