Karachi: Sui Southern Gas Company Limited (SSGC), a significant player in Pakistan’s energy sector, declared a final cash dividend of Re 0.5 per share, equating to 5%, for the fiscal year ending June 30, 2025. The announcement was made during the company’s Board of Directors meeting held on November 5, 2025, at its head office in Karachi.
The financial disclosures also highlighted that no bonus shares or right shares would be issued, and no other entitlements or corporate actions were recommended. The financial statements, including the statement of profit or loss, financial position, changes in equity, and cash flows, were released alongside the announcements.
According to the audit report, a qualified opinion was issued concerning the company’s trade debts, particularly the receivables from K-Electric Limited (KE) and Pakistan Steel Mills Corporation (Private) Limited (PSML). The receivables amounted to Rs. 28,539 million and Rs. 21,770 million, respectively, with significant portions overdue. The management has categorized these receivables as current assets despite disputes over the Late Payment Surcharge (LPS) and the adverse operational conditions of PSML.
Additionally, the company had not complied with IFRS 14 standards for the current reporting year due to the absence of an exemption from the Securities and Exchange Commission of Pakistan (SECP), affecting the presentation of tariff adjustments and earnings. The company emphasized that these presentation aspects did not impact the profit for the year.
Revenue from gas sales for the year ended June 30, 2025, stood at Rs. 439.33 billion, with a notable decrease due to a tariff adjustment of Rs. 4.26 billion. The cost of gas sales amounted to Rs. 424.08 billion, resulting in a gross profit of Rs. 10.99 billion. The net profit for the year was Rs. 2.69 billion, a considerable decline compared to the previous year’s Rs. 6.84 billion. The earnings per share dropped from Rs. 7.76 to Rs. 3.05.
According to information available from the Pakistan Stock Exchange (PSX), the company’s financial statements also disclosed that its total assets were valued at Rs. 1.11 trillion, with non-current assets accounting for Rs. 242.26 billion. The company’s equity stood at Rs. 8.27 billion, while liabilities were recorded at Rs. 1.11 trillion.
The company is also facing various material litigations and claims pending in different courts, adding to the uncertainties surrounding its financial standing. The accrued markup of Rs. 370.65 billion related to government-controlled Exploration & Production companies remains unrecognized based on governmental advice and legal opinions.
The Annual General Meeting of SSGC is scheduled for November 27, 2025, at the Jade Hall, Arena, Karachi. Shareholders registered by November 19, 2025, will be eligible for the declared dividend. The company’s share transfer books will remain closed from November 20 to November 27, 2025.