Lahore: Gulistan Textile Mills Limited has reported no cash dividends, bonus shares, or right shares for the third quarter ending March 31, 2026. The announcement was made following a board meeting held on April 28, 2026, at the company’s Lahore office.

The financial results for the period reveal that the company continues to face substantial financial challenges. According to the unaudited condensed interim balance sheet as of March 31, 2026, total assets were recorded at approximately 443.37 million rupees, a slight increase from 441.41 million rupees on June 30, 2025. Despite this, the company’s equity position remains deeply negative, with total equity reported at negative 8.43 billion rupees, reflecting ongoing accumulated losses of 9.65 billion rupees.

Liabilities are significant, with payables to banking companies under a scheme of arrangements totaling 5.64 billion rupees, unchanged from the previous period. Loans from associates and others increased to 331.03 million rupees from 301.89 million rupees, and trade and other payables rose to 247.34 million rupees from 148.57 million rupees.

The company also reported accrued markup interest at 2.58 billion rupees, which remained a constant burden. The authorized capital stood at 300 million rupees, with the share capital unchanged at 189.84 million rupees. Reserves were maintained at approximately 576.75 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), these financial results are indicative of a challenging environment for the textile sector, which has been dealing with multiple economic pressures.

Gulistan Textile Mills, categorized under the textile industry in the designated market category, has yet to announce any strategic initiatives to address these financial issues. The absence of dividends or share issues suggests a cautious approach as the company navigates its fiscal hurdles.