KARACHI: Bawany Air Products Limited posted a significantly wider net loss for the nine months ended March 31, 2026, as investment-related losses weighed heavily on its financial performance, while the company continued to pursue a major acquisition aimed at reshaping its future operations.
According to the company’s latest quarterly financial statements, Bawany Air Products recorded a net loss of Rs54.59 million, compared with a loss of Rs6.43 million in the corresponding period last year. Consequently, the company’s loss per share increased to Rs7.28, up from Rs0.86 a year earlier.
The company’s performance was primarily affected by investment losses. During the nine-month period, it reported an investment loss of Rs45.70 million, a sharp reversal from investment income of Rs33,423 recorded in the same period of the previous year. Administrative expenses also increased to Rs5.94 million, although other operating income of Rs3.90 million partially offset the impact of higher costs.
For the third quarter alone, the company posted a net loss of Rs14.29 million, compared with a quarterly loss of Rs1.35 million in the corresponding quarter of last year.
Despite the challenging financial performance, Bawany Air Products continues to move forward with its strategic transformation. The company is in the process of acquiring Alman Seyyam Sugar Mills (Private) Limited through the issuance of 600 million ordinary shares at a par value of Rs10 each. Upon completion of the transaction, the sugar mill will become a subsidiary of Bawany Air Products.
As part of the restructuring process, sponsor shareholders have already completed the required public offer to acquire up to 1.61 million ordinary shares, representing 0.27% of the company’s issued share capital, in compliance with directives issued by the Securities and Exchange Commission of Pakistan (SECP). Following completion of the acquisition, the company intends to proceed with a proposed rights issue of nearly 600 million shares to strengthen its capital base.
The company noted that it has resumed operations in line with its revised business objectives and that the Pakistan Stock Exchange has restored its trading status to the normal counter after previously being classified as non-compliant.
Management expressed confidence that the ongoing corporate restructuring and planned acquisition will position the company for improved performance in the future, while thanking shareholders for their continued patience and support.
