Lahore: The Thal Industries Corporation has reported a notable decline in its revenue for the nine months ending June 30, 2026, according to its unaudited financial statements presented on July 30, 2026. The sugar company, a prominent player in Pakistan's second-largest agro-based industry, has faced significant challenges throughout the 2025-26 crushing season.
During this period, the company recorded net sales of PKR 22,248.294 million, a stark decrease from PKR 37,395.768 million in the corresponding period of the previous year. This significant decline in revenue is attributed to lower sugar sales volumes and reduced selling prices. Profit before tax also saw a sharp decrease, falling to PKR 848.563 million from PKR 1,734.111 million in the same period last year.
Despite these financial challenges, Thal Industries achieved a 16.47% increase in sugarcane crushing, processing 2,913,950.70 metric tons compared to 2,501,854.66 metric tons in the previous year. The production of refined white sugar also rose to 304,943.70 metric tons from 241,471.30 metric tons, with an improved average recovery rate of 10.469%, up from 9.655% in 2025.
According to information available from the Pakistan Stock Exchange (PSX), the company's sugarcane procurement prices were determined by market forces, as provincial governments did not announce official support prices during the season. The average procurement price was PKR 465.52 per maund.
Operating expenses increased, with distribution and selling expenses reaching PKR 295,242,078 and administration expenses escalating to PKR 1,050,645,906. The company's finance costs also remained high at PKR 1,126.353 million.
The Thal Industries Corporation remains focused on sustainable growth through operational efficiency, process optimization, and effective cost management. The company continues to support sugarcane growers by providing quality inputs and technical assistance to improve crop yields and sugar recovery.
As of June 30, 2026, the company's total equity and liabilities stood at PKR 37,753.224 million, with a significant portion attributed to current liabilities, including trade and other payables and short-term borrowings. The company's share capital remained unchanged at PKR 150,232,320.