Karachi: Sindh Abadgar's Sugar Mills Limited disclosed its financial results for the third quarter ending June 30, 2026, showing a notable downturn compared to the previous year. The Board of Directors, convening at the company's registered office on July 30, 2026, approved the financial outcomes, which included no dividends or rights issues for shareholders.

The financial position of the company experienced a significant transformation with total equity and liabilities escalating to 9.97 billion rupees from 6.66 billion rupees recorded in September 2025. This increase is primarily attributed to a rise in current liabilities, which surged to 5.64 billion rupees from 2.14 billion rupees, driven mainly by a substantial increase in short-term borrowing.

The company's net sales for the nine-month period ending June 30, 2026, plummeted to 2.64 billion rupees from 4.08 billion rupees in the same period last year, signifying a very large move of -35.39%. Gross profit for the period also saw a sharp decline, falling to 69.83 million rupees from 437.86 million rupees, further highlighting the company's financial struggles.

Operating losses were pronounced, with the company reporting a loss of 93.07 million rupees for the nine months ending June 30, 2026, a stark contrast to the 292.70 million rupees in income reported the previous year. The financial costs increased to 228.25 million rupees from 214.39 million rupees, reflecting increased financial pressure on the company.

According to information available from the Pakistan Stock Exchange (PSX), Sindh Abadgar's Sugar Mills Limited faced a loss before taxation of 191.87 million rupees for the nine months ending June 30, 2026, compared to a profit of 113.96 million rupees during the same period in 2025. The company also recorded a net loss after taxation amounting to 164.55 million rupees, a significant reversal from the 119.12 million rupees profit reported last year.

Earnings per share also reflected this downturn, with a loss of 15.78 rupees per share for the nine-month period ending June 30, 2026, compared to earnings of 11.43 rupees per share in the previous year.

The financial results underscore the challenges faced by Sindh Abadgar's Sugar Mills Limited in the current market environment. Despite the downturn, the company continues to operate within the designated market category of sugar manufacturing, navigating through financial and operational hurdles as it seeks to stabilize its economic position.