Gulistan Spinning Mills Limited has transmitted its annual audited accounts for the year ended June 30, 2026, revealing a qualified audit opinion due to ongoing litigations and financial instability.
- The company reported a profit after tax (PAT) of PKR 20.32M, a significant recovery from a loss of PKR 5.94M in the previous year.
- Earnings per share (EPS) improved to PKR 1.39 from a loss of PKR 0.41.
- Total revenue was not explicitly stated, but the company recorded a gross loss from operations of PKR 8.26M.
- The financial statements were prepared on a non-going concern basis due to the company's inability to continue operations and ongoing restructuring efforts.
- Total assets stood at PKR 67.27B, while total liabilities were PKR 1.73B, indicating a negative equity position of PKR 1.67B.
- The company is under a scheme of arrangement to settle its debts, with significant litigation ongoing against various banks.
- Cash and bank balances increased to PKR 21.14M from PKR 8.53M, reflecting improved liquidity despite operational challenges.