SSML · Saritow Spinning Mills Limited
Transmission of Annual Report for the Year Ended 30-06-2026
- Filed
- 7 October 2026 at 10:27 am
- Category
- Financials
- Sentiment
- Neutral
- Impact
- High
AI executive summary
Saritow Spinning Mills Limited reported its annual financial results for the year ended June 30, 2026, posting an after-tax loss of PKR 69.33 million (comprising a small continuing operating loss and significant losses from discontinued spinning operations). Following the formal closure of its uneconomical spinning business, the company successfully shifted its principal line of business to leasing property and warehousing, generating PKR 26.47 million in rental income during the period.
Key takeaways
- Rental income for the year ended June 30, 2026 reached PKR 26.47 million following the transition to a leasing and warehousing business model.
- Loss after income taxes for the year stood at PKR 69.33 million, compared to a loss of PKR 598.20 million in the previous year.
- Basic loss per share improved to PKR (2.32) for FY2026 compared to PKR (20.05) for FY2025.
- The Board of Directors did not recommend any cash dividend or bonus shares for the year to retain earnings and strengthen financial position.
- The company formally closed its spinning operations in June 2024 and classified plant and machinery as held for sale, with a substantial portion disposed of by January 2026.
Filing details
Financial results
Annual · Audited · Standalone · 30 June 2026
Figures in PKR
Reporting period
Year
- Income
- 26,470,594 (prior 0)
- Profit after tax
- -69,326,506 (prior -598,204,936)
- EPS
- -2.32 (prior -20.05)
- Formally closed the company's spinning business and disposed of the entire spinning plant and machinery.
- Amended the Memorandum of Association to incorporate leasing out of land, buildings, other properties, and warehousing as the new principal line of business.
- Did not recommend any cash dividend or bonus shares for the year ended June 30, 2026.
Dividend and entitlement
- Type
- None
- Notes
- No dividend, bonus, or rights entitlement is declared or mentioned in this filing.
- #annual report
- #financial results
- #business restructuring
- #spinning
- #leasing
This summary is AI-generated and may contain errors or omissions. Review the official PSX filing before making an investment decision.