Lahore: Waves Home Appliances Limited has recently submitted a revised mandatory Shariah disclosure report, focusing on its financial activities up to June 30, 2026. The report highlights the company's compliance with Shariah principles, particularly its financial engagements and income sources.
According to the un-audited financial statement for June 30, 2026, Waves Home Appliances Limited disclosed its assets and liabilities, where it reported a compliant bank deposit amounting to 7,131,000 rupees, a significant decrease from the audited figure of 16,212,000 rupees as of December 31, 2025. Additionally, the company’s long-term financing, classified as compliant, stood at 502.77 million rupees, showing a very large or significant move from 339.322 million rupees at the end of the previous year.
The revenue from the company's Shariah-compliant business segment reached 2.03 billion rupees by June 30, 2026, up slightly from 2.003 billion rupees recorded on June 30, 2025, marking a minor move. The company also reported an exchange gain from actual currency transactions of 657,000 rupees, with no gains from conventional derivatives.
According to information available from the Pakistan Stock Exchange (PSX), Waves Home Appliances Limited clarified its sources of other income, which include a fair value gain of 18.90 million rupees from investment property, compared to a significantly higher 138.107 million rupees the previous year. The gain on the disposal of property, plant, and equipment decreased to 2.541 million rupees from 5.013 million rupees. Rental income remained constant at 600,000 rupees for both years.
The company also reported non-Shariah compliant income sources, which included a present value discounting of deferred markup amounting to 369.232 million rupees, reflecting a very large or significant move from 119.176 million rupees in the previous year. Profit from bank deposits was 8.303 million rupees, a substantial increase compared to 814,000 rupees previously.
In terms of banking relationships, Waves Home Appliances Limited maintains several connections with Shariah-compliant financial institutions, including Al Baraka Bank (Pakistan) Limited, Dubai Islamic Bank Pakistan Limited, and Meezan Bank Limited, among others, for various banking services and financings.
The report, dated October 22, 2026, underscores the company's ongoing commitment to maintaining compliance with Shariah principles in its financial dealings, as it continues to navigate the market dynamics.