Karachi: Textile Mills Limited released its annual financial report for the year ending June 30, 2026, showing an increase in total assets but reporting an overall financial loss. The company, listed under the textile sector in the Pakistan Stock Exchange (PSX), highlighted significant developments in its financial position compared to the previous year.
According to the report dated October 5, 2026, the company's total assets increased to 2.05 billion rupees from 1.96 billion rupees in 2025. This growth is primarily attributed to the rise in non-current assets, specifically the property, plant, and equipment, which increased to 1.51 billion rupees from 1.25 billion rupees. However, the company also faced a decline in current assets, which fell to 537.93 million rupees from 706.60 million rupees.
The financial statements further detailed a significant rise in directors' loans, which surged to 680.00 million rupees from 380.00 million rupees in the previous year. Despite an increase in total reserves to 620.41 million rupees from 510.28 million rupees, the accumulated loss expanded to 347.32 million rupees from 255.89 million rupees, reflecting the ongoing challenges faced by the company.
The report also noted a shift in liabilities, with non-current liabilities remaining stable at approximately 157.84 million rupees. However, current liabilities decreased to 847.40 million rupees from 1.09 billion rupees. Notably, short-term borrowings dropped to 430.13 million rupees from 675.94 million rupees, indicating a reduction in immediate financial obligations.
According to information available from the Pakistan Stock Exchange (PSX), the company's revenue for the year increased slightly to 4.54 billion rupees from 4.49 billion rupees, marking a minor move of 1.10%. Despite this increase, the cost of sales also rose, resulting in a gross profit decrease to 44.22 million rupees from 52.36 million rupees.
The report further highlighted the company's operating loss, which expanded to 43.17 million rupees from 16.41 million rupees. This was compounded by an increase in distribution and administrative expenses, which rose to 10.54 million rupees and 79.45 million rupees, respectively. The finance cost also increased marginally to 50.14 million rupees.
Ultimately, Textile Mills Limited reported a loss before taxation of 150.08 million rupees, up from 122.15 million rupees in the previous fiscal year. After accounting for taxation, the loss after taxation stood at 115.05 million rupees, compared to 103.01 million rupees in 2025. The loss per share, both basic and diluted, was reported at 11.91 rupees, reflecting ongoing financial difficulties for the company.