Gulshan Spinning Mills Limited has released its annual audited accounts for the year ended June 30, 2026, which reflect a qualified opinion from the auditors due to unverified cash balances and trade payables.
- Period: Year ended June 30, 2026; Audit Status: Qualified Opinion
- Revenue: Not disclosed; Net Loss: PKR 44.39M (previous year: PKR 8.03M)
- Loss per Share: PKR (2.00) (previous year: PKR (0.36))
- The company has no ongoing operations, and financial statements were prepared on a non-going concern basis.
- Significant liabilities include PKR 2,774.78M payable to banks under a scheme of arrangement.
- The company is facing ongoing litigation with various banks, with claims totaling PKR 4,662.58M.
- Cash and bank balances as of June 30, 2026, stand at PKR 16.70M, with most accounts blocked due to litigation.