Lahore: Shakarganj Limited has reported a noticeable increase in its financial losses for the third quarter and nine months period ended June 30, 2026. This comes as the company battles decreased revenues and escalating costs in a challenging economic environment.
On July 29, 2026, the Board of Directors of Shakarganj Limited convened a meeting via video link to discuss the company's financial outlook. The board announced that there would be no cash dividends, bonus shares, or right shares issued for the period ending June 30, 2026. This decision underscores the financial strain the company is currently experiencing.
The company's unaudited financial statements reveal that total assets have decreased from 19.38 billion rupees as of September 2025 to 17.17 billion rupees by June 2026. Non-current assets saw a reduction from 17.76 billion rupees to 15.94 billion rupees, while current assets fell from 1.62 billion rupees to 1.22 billion rupees.
Shakarganj Limited's total equity declined significantly from 7.33 billion rupees to 4.72 billion rupees. Meanwhile, total liabilities increased slightly from 12.05 billion rupees to 12.45 billion rupees. This shift is attributed to rising trade and other payables, which escalated from 6.47 billion rupees to 7.60 billion rupees.
The condensed interim statement of profit or loss shows a gross loss of 2.01 billion rupees for the nine-month period, compared to 1.37 billion rupees in the same period last year. Revenue from contracts with customers, net of sales tax and other levies, reached 11.54 billion rupees, up from 5.24 billion rupees year-over-year. However, the cost of revenue amounted to 13.55 billion rupees, resulting in a significant gross loss.
According to information available from the Pakistan Stock Exchange (PSX), the company's loss after income tax for the nine-month period was 2.75 billion rupees, compared to 2.03 billion rupees in the previous year. This represents a very large or significant move in financial performance, highlighting the pressing challenges faced by Shakarganj Limited.
Despite an increase in other income from 143.01 million rupees to 168.71 million rupees, a rise in finance costs and share of loss from equity accounted investee contributed further to the company's financial woes. The loss per share, both basic and diluted, widened from 16.27 rupees to 21.99 rupees.
The company did not disclose any other entitlements, corporate actions, or price-sensitive information in its latest report. The challenging financial landscape emphasizes the need for strategic adjustments as Shakarganj Limited navigates through persistent market challenges.