Karachi: Janana De Malucho Textile Mills Ltd. has reported substantial financial shifts for the fiscal year ending June 30, 2026, as revealed in its 66th Annual Report. The company experienced a significant decrease in sales while also revealing notable asset and equity adjustments.
In the statement of financial position, the company's total assets increased to 7.66 billion Rupees from 7.39 billion Rupees in the previous year, marking a Very large or significant move. This increase was primarily driven by a rise in non-current assets, including property, plant, and equipment, which grew to 7.05 billion Rupees from 6.86 billion Rupees. Investments in an associated company also saw a substantial increase, reaching 124.24 million Rupees from 89.85 million Rupees.
On the current assets side, cash and bank balances showed a remarkable increase to 42.48 million Rupees from 7.92 million Rupees. However, trade debts experienced a sharp decline to 3.62 million Rupees from 83.54 million Rupees, while stock-in-trade rose to 174.06 million Rupees from 125.17 million Rupees.
According to information available from the Pakistan Stock Exchange (PSX), the company's shareholders' equity saw an upward adjustment, reaching 5.38 billion Rupees from 5.28 billion Rupees, influenced by a revaluation surplus on property, plant, and equipment, which increased to 5.38 billion Rupees from 5.06 billion Rupees.
However, the company's liabilities also experienced growth, with total liabilities rising to 2.28 billion Rupees from 2.11 billion Rupees. Current liabilities, in particular, increased to 1.88 billion Rupees from 1.42 billion Rupees, attributed mainly to higher trade and other payables and accrued mark-up.
The statement of profit or loss revealed a significant decline in sales, dropping to 645.40 million Rupees from 1.52 billion Rupees, while the cost of sales also decreased to 793.87 million Rupees from 2.01 billion Rupees. Despite the reduced costs, the company reported a gross loss of 148.47 million Rupees, an improvement from the previous year's gross loss of 485.84 million Rupees.
The finance cost decreased substantially to 136.00 million Rupees from 261.97 million Rupees, contributing to a reduced loss before income tax of 282.27 million Rupees compared to 785.62 million Rupees in the previous year. The company reported a total comprehensive income of 99.01 million Rupees for the year, in contrast to the previous year's comprehensive loss of 754.82 million Rupees. The improvement was largely driven by a surplus from the revaluation of freehold land and property, as well as a reversal of impairment loss on investments in the associated company.
Despite these improvements, the company reported a loss per share of 49.78 Rupees, albeit an improvement from the previous year's loss per share of 109.14 Rupees.