Dewan Mushtaq Textile Mills Limited has reported a net loss of Rs26.36 million for the nine months ended March 31, 2025, reflecting continued pressure on the company’s financial performance.
According to the company’s unaudited financial results submitted to the Pakistan Stock Exchange, Dewan Mushtaq Textile Mills recorded a loss after taxation of Rs26.36 million, compared with a loss of Rs20.03 million in the corresponding period of the previous year. The loss per share also deteriorated to Rs2.28, compared with a loss per share of Rs1.73 previously.
The company’s financial position remained under pressure during the period. For the nine months ended March 31, 2025, the company reported an operating loss of approximately Rs27.96 million, compared with an operating loss of Rs29.49 million in the same period a year earlier.
Administrative and general expenses stood at around Rs6.53 million, compared with Rs6.10 million in the corresponding period. The company also reported finance costs of approximately Rs1,593 during the nine-month period.
One of the notable differences in the results was the absence of significant other income. Dewan Mushtaq Textile Mills reported other income of around Rs7.64 million in the comparable period last year, while the latest period recorded only a nominal amount. This reduction contributed to the deterioration in the company’s overall bottom-line performance.
Financial position remains challenging
The company’s balance sheet also highlights the difficult financial position. As of March 31, 2025, total equity stood at approximately Rs184.56 million, down from Rs210.92 million as of June 30, 2024. Accumulated losses increased to approximately Rs741.33 million from Rs718.91 million.
Current liabilities stood at around Rs584.27 million, while total assets were approximately Rs794.55 million at the end of the reporting period. Current assets amounted to roughly Rs29.59 million, including cash and bank balances of about Rs3.54 million.
Cash position declines
The company’s cash flow statement also points to continued pressure on liquidity. Net cash outflow from operating activities amounted to approximately Rs3.10 million during the nine months, compared with an outflow of Rs69,125 in the previous year.
Cash and cash equivalents declined from approximately Rs6.64 million at the beginning of the period to Rs3.54 million at March 31, 2025.
The statement of changes in equity further showed that the company’s total equity declined during the period, largely reflecting the reported loss. The company’s accumulated losses reached Rs741.33 million by March 31, 2025.
No dividend or corporate action announced
In its notice dated August 20, 2026, the company informed the Pakistan Stock Exchange that its Board of Directors had not recommended any cash dividend, bonus shares, right shares or other corporate entitlement in connection with the reported results.
The company stated that its third quarterly report for the period ended March 31, 2025 would be transmitted separately through PUCARS within the specified timeframe.
Overall, the results underline the financial challenges facing Dewan Mushtaq Textile Mills, with the company continuing to post losses, accumulated losses remaining substantial and cash reserves declining during the reporting period.
