Karachi: Sindh Abadgar’s Sugar Mills Limited (SASM) has reported a net loss of Rs164.55 million for the nine-month period ended June 30, 2026, marking a sharp reversal from the Rs119.12 million profit recorded during the corresponding period last year. The company also announced that its Board of Directors has not recommended any cash dividend, bonus shares, or right shares for shareholders.

According to the financial results approved by the Board of Directors at its meeting held on July 30, 2026, the company’s net sales declined significantly to Rs2.64 billion, compared with Rs4.08 billion in the same period of the previous year. The substantial reduction in revenue weighed heavily on overall profitability.

The company posted a gross profit of Rs69.83 million, a steep fall from Rs437.86 million reported a year earlier. Higher administrative expenses, finance costs, and levies further impacted earnings, resulting in a loss before taxation of Rs191.87 million. After accounting for taxation, the company recorded a net loss of Rs164.55 million, translating into a loss per share (LPS) of Rs15.78, compared with earnings per share (EPS) of Rs11.43 in the corresponding period last year. The financial performance is detailed in the interim statement of profit or loss on page 3 of the filing.

For the quarter ended June 30, 2026, Sindh Abadgar’s Sugar Mills posted a net loss of Rs165.37 million, compared with a profit of Rs41.78 million in the same quarter of the previous year, reflecting continued pressure on the company’s operations.

The company’s interim statement of financial position shows total assets of approximately Rs9.97 billion as of June 30, 2026, while shareholders’ equity stood at around Rs2.94 billion. The balance sheet on page 2 also indicates a notable increase in short-term borrowings, highlighting tighter working capital requirements during the period.

In its official notification to the Pakistan Stock Exchange, the Board confirmed that no cash dividend, bonus shares, right shares, or any other corporate action has been recommended alongside the quarterly financial results.

The latest results underscore the challenging business environment faced by the sugar sector, with declining sales, elevated financing costs, and pressure on operating margins contributing to Sindh Abadgar’s Sugar Mills’ financial turnaround during the first nine months of FY2026.