Gulshan Spinning Mills Limited has announced the sanctioning of a Scheme of Arrangement by the Sindh High Court to address its financial liabilities and pending litigations with banks.
- The Scheme of Arrangement under section 279 of the Companies Act 2017 has been approved, aiming to restructure the company's debts.
- The company reported a loss after taxation of PKR 44.39M for the year ended June 30, 2026, compared to a loss of PKR 8.03M in the previous year.
- No dividends are recommended for the year due to ongoing financial challenges and restructuring efforts.
- The company is optimistic that the implementation of the Scheme will improve its financial standing and resolve outstanding issues with financial institutions.