Siddiqsons Tin Plate Reports Strong Revenue Growth and Returns to Profit in FY2026
Siddiqsons Tin Plate Limited has reported a significant improvement in its financial performance for the year ended June 30, 2026, with revenue increasing sharply and the company returning to profitability after recording a loss in the previous year.
According to the company’s annual financial results approved by its Board of Directors on October 6, 2026, Siddiqsons Tin Plate recorded revenue of Rs2.83 billion during FY2026, compared with Rs2.02 billion in FY2025. This represents growth of roughly 40% year-on-year. 2852588
Gross Profit Improves Substantially
The company’s cost of goods sold rose to approximately Rs2.50 billion from Rs1.80 billion a year earlier. Despite the higher cost base, the stronger revenue translated into a substantial improvement in gross profit.
Gross profit increased to Rs334.64 million in FY2026 from Rs221.78 million in FY2025. The financial statements also show distribution costs equivalent to 12% compared with 11% in the previous year, while administrative expenses declined to approximately Rs86.91 million from Rs111.37 million. 2852588
Company Returns to Profit
One of the most notable developments was the company’s return to profitability.
Siddiqsons Tin Plate posted profit before taxation of Rs3.19 million in FY2026, compared with a loss before taxation of Rs255.12 million in FY2025. After taxation, the company reported a profit for the year of Rs3.19 million, versus a loss of Rs255.12 million in the preceding year.
As a result, earnings per share improved to Rs0.01, compared with a negative Rs1.11 per share in FY2025. 2852588
The improvement was supported by lower finance costs. Finance costs fell to approximately Rs239.98 million, compared with Rs382.99 million in FY2025, providing some relief to the company’s bottom line.
Financial Position Remains Challenging
While profitability improved, the company’s balance sheet continues to reflect financial pressures.
Total assets stood at approximately Rs4.22 billion as of June 30, 2026, compared with Rs4.45 billion a year earlier. Shareholders’ equity increased slightly to around Rs910.65 million, compared with Rs907.46 million in FY2025. However, accumulated losses remained substantial at approximately Rs1.68 billion. 2852588
The company also reported significant current liabilities of approximately Rs3.31 billion, highlighting the importance of working-capital and financing management going forward.
Cash Flow Remains a Key Concern
Despite the return to accounting profitability, cash flow remained under pressure.
The cash-flow statement shows that Siddiqsons Tin Plate generated operating cash before working-capital movements of approximately Rs248.31 million. However, after changes in working capital, taxes, interest and other payments, the company recorded net cash used in operating activities of Rs201.45 million during FY2026. 2852588
Investing activities generated approximately Rs498.20 million, largely supported by proceeds from the disposal of property, plant and equipment and other investment-related movements. Financing activities, however, used approximately Rs343.91 million.
The company ended the year with cash and cash equivalents of approximately negative Rs620.27 million, compared with negative Rs573.13 million a year earlier, according to the cash-flow statement. 2852588
No Dividend or Bonus Shares Announced
For FY2026, the company recommended no cash dividend, bonus shares or right shares. The October 6 announcement also stated that there was no other entitlement or corporate action and no price-sensitive information. 2852588
Outlook
Siddiqsons Tin Plate’s FY2026 results present a mixed but improved picture. The sharp increase in revenue, stronger gross profit and return to a small net profit mark a considerable improvement over the previous year.
However, the company still faces challenges related to accumulated losses, current liabilities, financing requirements and negative operating cash flow. Sustaining revenue growth while improving cash generation and reducing financial pressure will therefore remain important areas for the company in the coming periods.
Overall, FY2026 represents a turnaround year for Siddiqsons Tin Plate, with the company moving from a substantial loss to a modest profit while achieving strong growth in revenue. The next phase will be to determine whether this improvement can be sustained and translated into stronger cash flows and a healthier financial position.
