Al-Abid Silk Mills Limited has transmitted its 58th Annual Report for the year ended June 30, 2026, detailing significant financial challenges and operational updates.
- The company reported a Net Loss of PKR 141.87M for the year, compared to a loss of PKR 138.94M in the previous year.
- Earnings Per Share (EPS) stood at PKR -10.58, slightly worsening from PKR -10.36 in 2025.
- Revenue for the year was recorded at PKR 939.32M, with a Gross Loss of PKR 137.02M.
- The accumulated loss has reached PKR 2,345.29M, indicating ongoing financial distress.
- The company has not declared any dividends due to financial constraints.
- The management is cautiously optimistic about reviving operations and has initiated production activities on a new coating and flocking line.
- The company is currently engaged in negotiations with banks regarding the rescheduling of outstanding liabilities.
- The auditor's report issued an Adverse Opinion, citing significant doubts about the company's ability to continue as a going concern.