ICC Industries Limited (formerly ICC Textiles Limited) reported a notable improvement in its financial performance for the nine months ended March 31, 2026, significantly reducing its losses despite continued operational challenges.
According to the company’s latest financial results, revenue increased by 21.2% to Rs44.53 million during the nine-month period, compared to Rs36.74 million in the corresponding period last year. The rise in sales reflects improved business activity and stronger top-line performance.
The company posted a net loss of Rs7.04 million for the period, a substantial improvement from the loss of Rs12.15 million recorded in the same period of the previous year. Loss per share also improved to Rs0.23 from Rs0.41 a year earlier.
Despite higher revenues, gross profit declined slightly to Rs21.12 million from Rs22.64 million due to an increase in direct costs. Administrative expenses, however, were reduced to Rs22.96 million from Rs25.58 million, while other expenses also decreased, helping to contain overall losses.
On a quarterly basis, ICC Industries returned to profitability, reporting earnings of Rs4.43 million during the January–March 2026 quarter compared to a loss of Rs0.68 million in the corresponding quarter last year. The quarterly turnaround was supported by improved operating performance and a favorable tax adjustment.
The company’s financial position remained relatively stable, with total equity standing at Rs888.71 million as of March 31, 2026. Accumulated losses increased to Rs784.42 million, while directors’ loans remained unchanged at Rs761.33 million, continuing to provide support to the business.
A key highlight of the period was the improvement in liquidity. Cash and bank balances surged to Rs24.01 million from Rs3.14 million at the beginning of the period, driven by positive operating cash flows of Rs21.07 million. This stronger cash position provides the company with greater financial flexibility moving forward.
While ICC Industries continues to face profitability pressures, the sharp reduction in losses, growth in revenue, and strengthened cash reserves indicate gradual progress in the company’s efforts to improve its financial health and operational performance.
