Al Shaheer Corporation Limited (PSX: ASC) reported a significant increase in revenue during the nine months ended March 31, 2026, as the company resumed commercial operations and expanded sales channels following a challenging period of operational disruption. According to its latest quarterly report, net turnover surged to Rs1.61 billion, compared to Rs194.7 million in the corresponding period last year.
The company, which is engaged in the processing, packaging, and marketing of halal meat and food products for local and export markets, said it successfully initiated commercial operations on a limited scale after completing preparatory activities. Management focused on stabilizing production, optimizing plant performance, and maintaining quality standards while gradually rolling out selected product lines and developing retail and business-to-business (B2B) sales channels.
Despite the sharp increase in sales, Al Shaheer remained in the red, posting a net loss of Rs133.8 million for the nine-month period. However, the loss was substantially lower than the Rs302.5 million recorded in the same period of the previous year. Loss per share improved to Rs0.36 from Rs0.81 a year earlier. The company also reduced its operating loss to Rs28.6 million, compared with Rs300 million in the corresponding period last year.
Management attributed the continued losses to elevated input costs, limited pricing flexibility, and fixed operating overheads incurred before achieving optimal production scale. Nevertheless, the company reported a notable improvement in gross performance, with gross loss narrowing to Rs91.2 million from Rs213.2 million a year earlier.
To improve profitability, Al Shaheer is pursuing measures including higher capacity utilization, prudent procurement practices, tighter control over administrative expenses, enhanced working capital management, and a phased expansion of commercial activities to improve absorption of fixed costs.
Looking ahead, the company said its outlook remains cautious as financial performance continues to depend on economic conditions, cost pressures, and successful execution of its recovery strategy. The board reaffirmed its commitment to maintaining financial discipline and operational oversight while evaluating the effectiveness of ongoing turnaround initiatives.
The report also highlighted that the company has been working to recover from severe management and operational disruptions experienced in recent years. New management has launched a strategic recovery plan focused on strengthening governance, resolving regulatory matters, resuming plant operations, rebuilding stakeholder relationships, and shifting its business model toward institutional clients to achieve long-term sustainability and profitability.
