Karachi: Mughal Iron & Steel Industries Limited has released its Shariah disclosure for the fiscal year ending June 30, 2026, as per the compliance requirements set forth by the Pakistan Stock Exchange (PSX). The disclosure follows the PSX Notice No. PSX/N-1419 dated December 24, 2025, and is in accordance with regulations outlined in the Companies Act, 2017.
According to the financial statements, the company reported liabilities from Islamic mode financing at 26.64 billion rupees, a notable increase from the previous year's 16.63 billion rupees. Interest accrued on conventional loans was recorded at 243.44 million rupees. On the assets side, long-term and short-term Shariah-compliant investments stood at 3.18 billion rupees, while Shariah-compliant bank deposits amounted to 7.20 billion rupees.
The comprehensive income statement revealed revenue from Shariah-compliant business segments at 90.92 billion rupees, reflecting a big move. However, profit from Shariah-compliant bank deposits saw a decline to 29.23 million rupees, which is a moderate move compared to the previous year. Profit paid on Islamic financing was 2.22 billion rupees, while interest earned on conventional loans increased significantly to 322.80 million rupees.
On a consolidated basis, the company reported Islamic mode financing liabilities at 33.42 billion rupees, up from 17.33 billion rupees. Interest or markup accrued on conventional loans was 246.53 million rupees. Shariah-compliant bank deposits on a consolidated level increased to 7.31 billion rupees.
Revenue from the consolidated Shariah-compliant business segment was consistent at 90.92 billion rupees. Profit earned from Shariah-compliant bank deposits was 29.24 million rupees, indicating a similar moderate move. The company also reported profit paid on Islamic financing at 2.30 billion rupees.
According to information available from the Pakistan Stock Exchange (PSX), the disclosure fulfills mandatory compliance with Shariah regulations as per Clause 5.6.9A.2 and Clause 5A.13(e) (ii) of the PSX Regulations, ensuring transparency and adherence to Islamic financial principles.