Saritow Spinning Mills Limited (PSX: SSML) reported a net loss of Rs79.42 million for the nine months ended March 31, 2026, showing a modest improvement from the Rs82.66 million loss recorded during the same period last year. The company’s loss per share also improved slightly to Rs2.66 compared to Rs2.77 in the corresponding period of 2025.
According to the financial results released to the Pakistan Stock Exchange (PSX), the company continued to face operational difficulties, reporting no net revenue from contracts with customers during the nine-month period. The absence of sales activity, combined with administrative and operating expenses, resulted in an operating loss of Rs77.9 million. Finance costs stood at Rs1.52 million, bringing the total pre-tax and post-tax loss to Rs79.42 million.
For the quarter ended March 31, 2026, Saritow Spinning Mills posted a loss of Rs25.65 million, slightly lower than the Rs26.71 million loss recorded in the same quarter last year. Quarterly loss per share improved to Rs0.86 from Rs0.90.
On the balance sheet side, total equity declined significantly to Rs33.52 million as accumulated losses increased to Rs887.35 million from Rs807.93 million at the end of June 2025. Total assets stood at Rs1.15 billion, compared to Rs1.24 billion at the close of the previous financial year. Property, plant and equipment remained the company’s largest asset category, valued at Rs1.12 billion.
The company’s liabilities remained substantial at Rs1.12 billion, including short-term borrowings of Rs576.36 million and trade and other payables of Rs527.08 million. However, short-term borrowings declined from Rs817.59 million recorded at the end of June 2025, reflecting efforts to reduce debt exposure.
Cash and bank balances stood at Rs3.98 million at the end of March 2026, down from Rs5.94 million at the beginning of the financial year. During the period, the company generated positive operating cash flows largely due to working capital adjustments, while financing activities reflected a reduction in short-term borrowings.
The Board of Directors did not recommend any cash dividend, bonus shares, or right shares for shareholders. The company also reported no other price-sensitive information alongside its third-quarter financial results.
