Lahore: Waves Home Appliances Limited has reported its financial results for the half-year ending June 30, 2026, indicating a moderate growth despite the prevailing economic difficulties. The company's net sales reached PKR 2,033.74 million compared to PKR 2,003.67 million in the same period last year, marking an increase of approximately 1.5%.

The Directors' report, dated September 17, 2026, highlights a decline in gross profit to PKR 512.70 million from PKR 544.27 million the previous year. This decrease is attributed to ongoing margin pressures due to higher input, energy, and operating costs. However, profit from operations saw a significant improvement, rising to PKR 599.49 million from PKR 523.25 million, reflecting an increase of about 14.6%.

Despite heightened finance costs, the company reported a profit for the period of PKR 161.02 million, up from PKR 156.03 million last year, representing a very large increase of 3.2%. Earnings per share rose to PKR 0.60 from PKR 0.58.

According to information available from the Pakistan Stock Exchange (PSX), the Board of Directors decided against recommending any shareholder payout due to the challenging economic environment. They have, however, approved a rights issue of 56 shares for every 100 held, aiming to raise up to PKR 1.5 billion. This move is expected to bolster working capital and assist in repaying a loan from the holding company.

The company continues to enhance its distribution network, improve product availability, and focus on energy-efficient appliances to meet changing consumer preferences. It maintains strict controls over inventory and procurement to manage costs and optimize operational efficiency.

The Board, in its meeting on July 23, 2026, reiterated its commitment to strong governance and compliance with the Companies Act, 2017, and the Listed Companies (Code of Corporate Governance) Regulations, 2019. The company also expressed gratitude to the Securities & Exchange Commission of Pakistan, State Bank of Pakistan, and the Pakistan Stock Exchange's management for their support.

The rights issue's book closure was scheduled for August 27, 2026, with the subscription period concluding on September 21, 2026. The management remains vigilant to market conditions, aiming to maintain a balanced product mix and strengthen its market position.