Karachi: Paramount Spinning Mills Limited has disclosed its financial results for the year ending June 30, 2026, revealing a notable downturn in its financial performance. The company reported a loss after taxation of 4,117,567 rupees for 2026, a sharp contrast to the profit of 39,137,130 rupees recorded in 2025, marking a very large or significant move. This was officially documented in the report released on October 7, 2026.
The financial statements indicate that total assets stood at 21,874,278 rupees as of June 30, 2026, down from 26,009,025 rupees in the previous year. The decline in assets is largely attributed to a decrease in cash and bank balances, which fell from 8,381,717 rupees in 2025 to 3,520,713 rupees in 2026. Additionally, the tax refund due from the government rose slightly to 15,842,940 rupees, compared to 15,052,308 rupees the previous year.
The equity section of the balance sheet reveals accumulated losses amounting to 1,377,796,767 rupees, up from 1,373,679,200 rupees in 2025. Share capital remained unchanged at 173,523,290 rupees, and reserves were constant at 475,400,000 rupees. A loan from sponsors continued to be listed at 148,512,600 rupees, resulting in total equity standing at negative 580,360,877 rupees, slightly worse than the negative 576,243,310 rupees recorded the previous year.
Liabilities were relatively stable, with current liabilities reported at 602,235,155 rupees compared to 602,252,335 rupees in 2025. The largest component of liabilities was the loan from associates and others, which marginally increased to 580,710,517 rupees from 580,194,930 rupees.
The statement of profit or loss showed no sales or cost of sales for the year, leading to a gross profit of zero. Administrative expenses were reduced to 1,831,481 rupees from 3,733,020 rupees, indicating a moderate move. Other income plummeted to 14,388 rupees from 44,767,352 rupees, while other operating expenses increased to 2,126,117 rupees from 670,624 rupees.
According to information available from the Pakistan Stock Exchange (PSX), the earnings per share for Paramount Spinning Mills Limited reflected a loss of 0.24 rupees in 2026, a significant decline from the earnings of 2.26 rupees per share in 2025.
The company did not list any non-current liabilities or sales revenue, which underlines the challenges faced in sustaining profitability and maintaining operational stability. The financial data points to a pressing need for strategic adjustments to address the downturn and enhance financial health.