Waves Home Appliances Posts 23% Growth in Profit After Tax in 2025

Waves Home Appliances Limited, formerly known as Samin Textiles Limited, has reported improved profitability for the year ended December 31, 2025, according to its audited financial results submitted to the Pakistan Stock Exchange.

The company’s profit after taxation increased to Rs189.2 million in 2025, compared with Rs153.3 million in the previous year. This represents an increase of approximately 23.4% year on year. Earnings per share also improved from Rs0.57 to Rs0.71.

Revenue and Gross Profit Improve

Waves Home Appliances recorded revenue of Rs5.03 billion during 2025, compared with Rs4.08 billion in 2024. After accounting for sales tax and trade discounts, net revenue stood at Rs3.67 billion, up from Rs3.17 billion a year earlier.

The company’s gross profit increased to Rs1.01 billion, compared with Rs886.4 million in 2024. Marketing, selling and distribution costs declined slightly to Rs229.6 million from Rs238.5 million, while administrative and general expenses rose to Rs257.6 million from Rs224.6 million.

Other income also remained significant, reaching Rs774.7 million in 2025 compared with Rs525 million in the previous year. Operating profit consequently increased to Rs810.2 million, compared with Rs768.4 million in 2024.

Finance Costs Remain a Key Expense

Despite the improvement in operating profit, finance costs increased to Rs706 million from Rs594.4 million in 2024. Profit before taxation and levies stood at Rs104.2 million, while profit before taxation was Rs56.9 million after accounting for levies.

Income tax recorded for the year was Rs132.3 million. After taxation, the company reported a profit of Rs189.2 million.

Balance Sheet Shows Growth in Assets

As of December 31, 2025, Waves Home Appliances had total assets of approximately Rs19.56 billion, compared with Rs18.53 billion at the end of 2024.

Trade debts increased to Rs4.86 billion from Rs4.21 billion, while investment property rose to Rs762.2 million from Rs87.2 million. Cash and bank balances also increased substantially, reaching Rs18 million compared with just Rs0.34 million at the end of 2024.

The company’s unappropriated profit increased to Rs1.03 billion, compared with Rs822.4 million in 2024. Total equity stood at approximately Rs8.09 billion at year-end.

Operating Cash Flow Turns Stronger

The company generated Rs201.1 million in cash from operations during 2025, compared with Rs413.4 million in 2024. After taxes, finance costs and other operating cash movements, net cash generated from operating activities amounted to Rs115.5 million, up from Rs70.5 million in 2024.

Waves invested Rs116.7 million in property, plant and equipment during the year. Net cash used in investing activities was Rs114.9 million. Financing activities generated a net Rs17 million, resulting in an overall increase of Rs17.6 million in cash and cash equivalents.

No Cash Dividend Declared

The company’s April 8, 2026 announcement stated that the board approved the audited financial results for the year ended December 31, 2025. The board declared no cash dividend, bonus shares, rights issue or other entitlement for the period.

The board also approved the company’s Annual Business Plan/Budget for the Financial Year 2026. The Annual General Meeting was scheduled for April 30, 2026, at 11:45 a.m. at the company’s registered office in Lahore.

Overall

Waves Home Appliances entered 2026 with higher revenue, gross profit and profit after taxation compared with 2024. The financial statements also show stronger year-end cash balances and growth in total assets, while finance costs and certain operating expenses remained significant factors affecting profitability.