International Steels Limited (ISL) has reported a significant improvement in its financial performance for the year ended June 30, 2026, with profit more than doubling and revenue showing strong growth. The company has also recommended a final cash dividend of Rs. 3 per share, taking the total dividend for the year to Rs. 5 per share.
According to the company’s annual audited financial results, reviewed by its Board of Directors on August 19, 2026, International Steels recorded revenue of Rs. 93.35 billion during FY2026, compared with Rs. 62.31 billion in the previous year. This represents growth of around 50% year-on-year.
The improvement was even more visible at the bottom line. Profit after tax rose to Rs. 3.67 billion, compared with Rs. 1.56 billion in FY2025. Earnings per share also increased substantially, reaching Rs. 8.44, against Rs. 3.58 a year earlier.
Stronger operating performance
The company’s gross profit increased to Rs. 10.73 billion from Rs. 5.34 billion in FY2025. Operating profit also more than doubled to Rs. 7.18 billion from Rs. 3.32 billion.
Profit before tax reached Rs. 5.55 billion, compared with Rs. 2.45 billion in the previous year. While finance costs and other expenses increased, the overall improvement in operating performance helped the company deliver a much stronger annual result.
The company’s balance sheet also expanded during the year. Total assets stood at Rs. 55.59 billion at June 30, 2026, compared with Rs. 50.07 billion a year earlier. Shareholders’ equity increased to Rs. 26.81 billion from Rs. 25.11 billion.
Shareholders to receive Rs. 5 per share
One of the key highlights for investors is the company’s dividend announcement. International Steels has recommended a final cash dividend of Rs. 3 per share, equivalent to 30%.
This comes on top of the Rs. 2 per share interim dividend already announced and paid during the year. As a result, the total dividend for FY2026 stands at Rs. 5 per share, or 50%.
The company has not announced any bonus or right shares as part of the latest corporate action.
Cash flow remains an area to watch
Despite the strong accounting profit, the cash flow statement presents a more mixed picture. International Steels reported net cash used in operating activities of Rs. 3.95 billion during FY2026, compared with cash generated from operations of Rs. 2.30 billion in the previous year.
The company also spent Rs. 1.03 billion on property, plant and equipment. Financing activities, however, generated Rs. 3.91 billion, mainly supported by an increase in short-term borrowings. Cash and cash equivalents stood at Rs. 1.50 billion at the end of the financial year, down from Rs. 2.40 billion a year earlier.
Annual General Meeting scheduled for October
International Steels has scheduled its 19th Annual General Meeting for October 5, 2026, at 10:30 a.m. at the Beach Luxury Hotel in Karachi, with shareholders also encouraged to participate through video conferencing.
The company said its share transfer books will remain closed from September 29 to October 5, 2026, inclusive. Transfers received by the close of business on September 28 will be considered for determining eligibility to attend the AGM and receive the final cash dividend.
Overall, FY2026 was a considerably stronger year for International Steels, marked by substantial revenue growth, improved profitability and a higher shareholder payout. At the same time, the decline in operating cash flow and rise in short-term borrowings will remain important factors for investors to monitor as the company moves into the new financial year.
