Karachi: Siddiqsons Tin Plate Limited has reported a remarkable financial turnaround in its unaudited condensed interim financial statements for the nine-month period ending March 31, 2026. On May 4, 2026, the company presented these results, highlighting a significant shift from a loss in the previous year to profitability.

During this period, Siddiqsons Tin Plate Limited achieved sales revenue of PKR 2,158 million, marking a 41.38% increase compared to the same period last year. This growth was largely attributed to enhanced production activity and improved availability of raw materials, allowing the company to operate nearer to optimal production capacity. However, the cost of sales also rose by 44.7%, driven by increased production volumes.

Finance costs saw a notable decrease of 53%, positively influencing the profitability of the company. As a result, the company recorded a profit after taxation of PKR 33.02 million, a significant improvement from the loss of PKR 174.250 million in the corresponding period last year. This translated to a profit per share of PKR 0.14, compared to a loss per share of PKR 0.76 previously.

According to information available from the Pakistan Stock Exchange (PSX), the market demonstrated relative stability during the quarter. However, the influx of imported tinplate at dumped prices negatively impacted the company’s sales activity. Despite the unfavorable economic indicators in Pakistan, including no change in the policy rate and the lack of a comprehensive economic revival plan, Siddiqsons Tin Plate Limited managed to navigate these challenges effectively.

The company also expressed concern over the continued use of Galvalume – a zinc/aluminum coated steel sheet – in food packaging, citing associated health risks. Efforts to address this issue through regulatory channels are ongoing, as the company has raised the matter with the relevant government authorities.