Lahore: Haseeb Waqas Sugar Mills Limited has disclosed a financial loss in its interim financial statement for the half-year ending March 31, 2026. The company’s financial position shows a continued struggle to balance its liabilities and assets, with significant losses recorded over the period.
According to the un-audited financial statement, the company reported a loss after taxation of Rs. 113,636,582 for the half-year ending March 31, 2026, compared to a loss of Rs. 112,872,514 in the same period last year. The accumulated losses mounted to Rs. 5,734,513,725 as of March 31, 2026, reflecting the ongoing financial challenges the company faces.
The company’s equity and liabilities section reveals a total equity of Rs. 175,488,437, a decrease from Rs. 282,055,019 as of September 30, 2025. The issued, subscribed, and paid-up capital remained unchanged at Rs. 324,000,000.
Non-current liabilities are noted at Rs. 1,408,962,104, with deferred taxation contributing Rs. 1,238,281,661 to this figure. Meanwhile, current liabilities are slightly up to Rs. 4,134,016,793 from Rs. 4,133,655,818, driven by trade and other payables and short-term borrowings.
The company’s operational costs exceeded its revenues, leading to a gross loss of Rs. 131,841,774 for the half-year. Administrative and general expenses further contributed to the loss, amounting to Rs. 9,673,510. Finance costs were marginal at Rs. 7,266.
According to information available from the Pakistan Stock Exchange (PSX), Haseeb Waqas Sugar Mills Limited recorded no sales revenue for the period ending March 31, 2026, maintaining the status from the corresponding period in the previous year. The absence of sales revenue highlights the company’s critical operational challenges.
On the asset side, non-current assets decreased to Rs. 5,462,508,587 from Rs. 5,590,875,003, primarily due to depreciation of property, plant, and equipment. Current assets stood at Rs. 157,958,747, slightly down from Rs. 162,465,658.
The cash flow statement indicates net cash used in operating activities at Rs. 7,680,638, an improvement from the Rs. 13,205,951 used in the corresponding period last year. The company generated Rs. 7,863,070 from financing activities, primarily through director loans.
The financial report underscores the company’s ongoing struggle with financial losses, limited operational revenue, and substantial liabilities. The results suggest a pressing need for strategic restructuring to improve its financial health and operational capabilities.