Lahore: Tariq Glass Industries Ltd has reported a decline in its net profit for the financial year ending June 30, 2026, during a meeting of its board of directors held on September 24, 2026. The company decided not to issue a final cash dividend, bonus shares, or rights shares, maintaining a consistent dividend policy throughout the year.
The financial statements, approved by the board, revealed a net profit of Rs. 4,013.40 million, down from Rs. 4,777.73 million in the previous year. The decline in profit is attributed to reduced revenue, which fell to Rs. 30,722.11 million from Rs. 33,561.95 million, and higher expenses in administrative and selling and distribution sectors. Tariq Glass Industries' earnings per share also saw a decline to Rs. 23.31 from Rs. 27.75.
According to information available from the Pakistan Stock Exchange (PSX), the company's shareholders had already received an interim dividend of Rs. 5/- per share, equating to 50%. Despite the unchanged dividend policy, the shareholders' equity increased to Rs. 27,004.42 million from Rs. 22,419.87 million, indicating a strong equity position.
The financial position of the company showed an increase in total assets, rising to Rs. 31,394.47 million from Rs. 27,822.99 million. The increase in assets was largely due to growth in property, plant and equipment, which stood at Rs. 13,366.08 million compared to Rs. 12,058.30 million the previous year.
The company plans to hold its Annual General Meeting on October 28, 2026, at its registered office in Lahore, with an option for shareholders to participate via video link, subject to approval by the PSX. The register of members and share transfer books will remain closed from October 22 to October 28, 2026, to facilitate the meeting and share transfers.
In compliance with the Securities and Exchange Commission of Pakistan's order, the company will submit its Sustainability/ESG Disclosures by March 31, 2027. The annual financial statements will be accessible through PUCARS and published on the company's website at least 21 days before the Annual General Meeting.