Karachi: Atlas Battery Limited, a key player in the automotive and energy storage battery industry, has released its annual financial statements for the fiscal year ended June 30, 2026. The company, according to its annual report dated September 8, 2026, has undergone significant financial and leadership developments.
The company's total assets amounted to 22.12 billion rupees by the end of the fiscal year, marking a substantial increase from 18.91 billion rupees in 2025. The increase in total assets was driven by growth in both non-current and current assets, with current assets reaching 17.04 billion rupees, a jump from 13.74 billion rupees the previous year. Non-current assets, however, saw a slight decline to 5.08 billion rupees from 5.17 billion rupees.
The financial statements reveal a downturn in profitability, with a notable loss after taxation of 370.69 million rupees, compared to a profit of 91.21 million rupees in 2025. This financial shift is attributed to reduced profit before income tax, which stood at 74.59 million rupees, down from 625.29 million rupees in the previous fiscal year.
According to information available from the Pakistan Stock Exchange (PSX), Atlas Battery Limited's current liabilities rose to 12.50 billion rupees from 8.93 billion rupees in 2025, while non-current liabilities slightly increased to 2.09 billion rupees from 2.08 billion rupees. Despite these increases, the company’s equity fell to 7.54 billion rupees from 7.90 billion rupees, reflecting the financial strains experienced during the year.
The company announced no cash dividend for the fiscal year ended June 30, 2026, maintaining last year's dividend decision. The basic and diluted loss per share was reported at 10.59 rupees, a significant reversal from the 2.60 rupees profit per share recorded in 2025.
In the realm of corporate governance, the company elected its Board of Directors for a new three-year term at the Extraordinary General Meeting held on May 20, 2026. Additionally, Mr. Mansoor Jamil Khan, previously the Chief Operating Officer, was appointed as the new Chief Executive Officer effective May 21, 2026. This leadership change is part of the Atlas Group's structured succession planning aimed at ensuring leadership continuity and supporting the company's strategic goals.
The board has commended the outgoing CEO, Mr. Ali H. Shirazi, for his substantial contributions to the company's market position and operational performance. Mr. Shirazi will continue to serve on the board, providing strategic counsel.
The annual report also highlights the Board's commitment to corporate governance standards, as evidenced by active Audit and Human Resource and Remuneration Committees. These committees play crucial roles in overseeing the company's financial reporting, human resources policies, and succession planning.
Atlas Battery Limited's strategic maneuvers and financial outcomes during the fiscal year reflect broader market conditions and internal adjustments. The company's ongoing commitment to leadership excellence and strategic growth positions it for future resilience amid industry challenges.