Dost Steels Posts Higher Half-Year Loss of Rs148.36 Million, No Dividend Announced

KARACHI: Dost Steels Limited has reported a wider net loss for the half year ended March 31, 2026, reflecting continued operational and financial challenges amid the absence of revenue generation during the period. The company disclosed its unaudited financial results following the approval of its Board of Directors.

According to the financial statement, Dost Steels recorded a net loss of Rs148.36 million for the six-month period, compared with a loss of Rs135.13 million in the corresponding period last year. The loss per share stood at Rs0.33, compared with Rs0.36 a year earlier.

The company reported no sales revenue during the review period, while the cost of sales amounted to Rs85.46 million, resulting in a gross loss of the same amount. Administrative and selling expenses reached Rs12.29 million, while finance costs remained significant at Rs54.37 million, further weighing on profitability. Other operating income of Rs2.87 million provided only limited relief.

On the balance sheet, total assets stood at approximately Rs10.23 billion as of March 31, 2026, compared with Rs10.29 billion at the end of June 2025. Shareholders’ equity declined to Rs6.30 billion from Rs6.45 billion, reflecting the impact of the period’s losses. Accumulated losses increased to Rs1.85 billion.

The company’s cash and bank balances fell to Rs101,350, compared with Rs676,819 at the close of the previous financial year. Net cash used in operating activities amounted to Rs188.92 million, while financing activities generated Rs188.38 million, largely offsetting the operating cash outflow.

In its notification to the Pakistan Stock Exchange, Dost Steels stated that the Board did not recommend any cash dividend, bonus shares, or right shares for the period under review. As no corporate payout was announced, the company also confirmed that no book closure would be required.

The latest financial results highlight the company’s ongoing efforts to manage its financial position despite the continued absence of operating revenue and persistent financing costs.