Altern Energy Limited has reported a challenging financial performance for the year ended June 30, 2026, with the company and its consolidated group remaining in loss. However, the latest financial results show a notable improvement at the consolidated level compared with the previous year.

According to the financial statements, Altern Energy’s consolidated loss for FY2026 stood at Rs 942.037 million, compared with a significantly higher loss of Rs 7.707 billion in FY2025. The loss attributable to equity holders of the parent company was Rs 1.073 billion, while non-controlling interests recorded income of Rs 131.206 million. Consolidated loss per share improved to Rs 2.95, compared with a loss per share of Rs 12.54 in the previous year.

Standalone Results Remain Under Pressure

On a standalone basis, the company’s performance was weaker compared with the previous year. Altern Energy reported a loss of Rs 227.396 million for FY2026, against a profit of Rs 5.787 billion in FY2025.

As a result, standalone earnings per share moved from Rs 15.93 in FY2025 to a loss of Rs 0.63 per share in FY2026.

The shift from a substantial profit to a loss highlights the pressure on the company’s standalone financial position during the year.

Cash Position Declines

The company’s cash flows also reflected a more difficult year. On a standalone basis, cash and cash equivalents fell to Rs 102.692 million at June 30, 2026, compared with Rs 815.641 million a year earlier.

The company recorded Rs 11.106 million in net cash inflow from investing activities, while Rs 572.292 million was used for financing activities, primarily reflecting dividends paid. Overall, cash and cash equivalents declined by Rs 712.949 million during the year.

At the consolidated level, the group ended FY2026 with Rs 7.694 billion in cash and cash equivalents, down from Rs 9.107 billion at the end of FY2025. Consolidated investing activities generated net cash of Rs 782.223 million, while financing activities were broadly balanced after a long-term loan of Rs 572 million from a related party and dividend payments.

Balance Sheet Shows Changes in Asset Structure

The consolidated statement of financial position shows total assets of approximately Rs 9.778 billion at June 30, 2026, compared with Rs 11.065 billion a year earlier.

The group also reported Rs 289.334 million in non-current assets held for sale, an item that was not present in the previous year’s balance sheet. Consolidated equity stood at approximately Rs 8.959 billion, including Rs 3.014 billion attributable to non-controlling interests.

No Dividend Recommended

The company’s Board of Directors, at its meeting held on September 1, 2026, recommended no cash dividend, bonus shares or right shares for the year.

The absence of a new dividend recommendation comes as the company reports a standalone loss and a reduction in its available cash position.

Annual General Meeting Set for October 26

Altern Energy has scheduled its Annual General Meeting for October 26, 2026, at 10:00 a.m. at Descon Headquarters on Ferozepur Road, Lahore.

The company’s share transfer books will remain closed from October 20 to October 26, 2026, both days inclusive. The company also stated that its annual report will be transmitted through PUCARS at least 21 days before the AGM.

Outlook

Altern Energy’s FY2026 results present a mixed picture. While the consolidated loss narrowed sharply from the previous year, the standalone business moved from a sizeable profit into a loss. At the same time, the reduction in cash balances and the decision not to recommend a dividend will likely remain important points for shareholders as they assess the company’s financial position.

The upcoming AGM will provide shareholders with an opportunity to review the company’s financial results and discuss its performance and future direction.