KARACHI: Al Shaheer Corporation Limited (PSX: ASC), the company behind the Meat One brand, reported a significant improvement in its financial performance for the nine-month period ended March 31, 2026, substantially reducing its net losses while posting a sharp increase in revenue. The company also announced that its Board of Directors has not recommended any cash dividend, bonus shares, or right shares.
According to the financial results, Al Shaheer’s net loss for the nine months stood at Rs133.8 million, a marked improvement from the Rs302.5 million loss recorded in the corresponding period last year. This translates into a 56% year-on-year reduction in losses, reflecting improved operational performance.
The company’s turnover surged to Rs1.61 billion, compared with Rs194.7 million in the same period of the previous year, representing an impressive 727% increase in revenue. Despite reporting a gross loss of Rs91.2 million, the company significantly improved from the gross loss of Rs213.2 million recorded a year earlier.
Administrative and distribution expenses declined notably to Rs74.95 million, while other income increased sharply to Rs137.6 million, providing meaningful support to the bottom line. Operating loss narrowed dramatically to Rs28.6 million, compared with Rs300 million in the corresponding period last year.
For the third quarter alone, Al Shaheer posted a net loss of Rs67.1 million, compared with Rs84.2 million in the same quarter of the previous year. Quarterly sales climbed to Rs547.99 million, indicating continued business expansion despite ongoing profitability challenges.
On the balance sheet, the company’s total assets stood at Rs4.36 billion as of March 31, 2026, while shareholders’ equity improved to Rs286.7 million. Cash and bank balances also strengthened to Rs19.2 million, compared with Rs5 million at the end of June 2025, reflecting improved liquidity.
The latest results indicate that Al Shaheer Foods continues to make progress in its turnaround efforts through higher sales, tighter cost management, and stronger operating performance. While the company remains in a loss-making position, the substantial reduction in losses and robust revenue growth suggest improving business fundamentals as it works toward sustained profitability.
