International Steels Posts Significant Profit Growth in Nine Months of FY2026
International Steels Limited (ISL) has reported a substantial improvement in its financial performance for the nine months ended March 31, 2026, with profit after taxation increasing sharply compared with the corresponding period last year.
According to the company’s unaudited financial statements, ISL recorded revenue of Rs67.28 billion during the nine-month period, compared with Rs45.67 billion in the same period of 2025. Gross profit also increased to Rs7.19 billion, from Rs3.57 billion a year earlier.
The company’s operating profit more than doubled to Rs4.81 billion, compared with Rs2.18 billion in the corresponding nine-month period of 2025. Profit before taxation reached Rs3.74 billion, up from Rs1.51 billion, while profit after taxation climbed to Rs2.41 billion, compared with Rs951.3 million last year.
The improved profitability was also reflected in earnings per share. Basic and diluted EPS increased to Rs5.54 from Rs2.19 in the same period of the previous year.
Stronger Third-Quarter Performance
The company also delivered a stronger performance during the three months ended March 31, 2026. Quarterly revenue stood at Rs23.33 billion, compared with Rs13.87 billion in the same quarter of 2025.
Gross profit rose to Rs2.53 billion, while operating profit reached Rs1.76 billion, compared with Rs859.97 million a year earlier. Profit after taxation increased to Rs793.12 million from Rs417.21 million, while quarterly EPS improved to Rs1.82 from Rs0.96.
No Dividend, Bonus or Right Shares Announced
Alongside the results, the company informed the Pakistan Stock Exchange that the Board had recommended no cash dividend, bonus shares or right shares for the quarter ended March 31, 2026. The company stated that its quarterly report would be transmitted through PUCARS separately and made available on its website.
The statement of changes in equity, however, records a final dividend of 25% (Rs2.50 per share) for the year ended June 30, 2025 and an interim dividend of 20% (Rs2.00 per share) for the year ending June 30, 2026.
Balance Sheet and Cash Flow Position
As of March 31, 2026, ISL reported total assets of Rs58.53 billion, compared with Rs50.07 billion at June 30, 2025. Shareholders’ equity stood at Rs25.56 billion, up from Rs25.11 billion.
The cash-flow statement shows that the company generated negative cash flow from operating activities of Rs9.26 billion during the nine months, compared with positive operating cash flow of Rs427.56 million in the same period of 2025. Meanwhile, net cash generated from financing activities stood at Rs4.64 billion, mainly reflecting net proceeds from short-term borrowings.
Overall, International Steels’ latest results show a marked improvement in revenue, operating profit, net profit and earnings per share during the nine months ended March 2026. The company’s financial statements also highlight significant movements in operating and financing cash flows, which will remain important areas to watch as the financial year progresses.
