Gulistan Spinning Mills Limited has released its un-audited financial results for the quarter ended September 30, 2026, reporting significant losses amid ongoing operational challenges and a restructuring scheme.
- The company reported a net loss after taxation of PKR 1,300.31M for the quarter, compared to a profit of PKR 8,369.47M in the same period last year.
- Earnings per share (EPS) for the quarter stood at a loss of PKR 0.09, contrasting with a profit of PKR 0.57 in Q3 2025.
- The company has been under a Scheme of Arrangement since May 2014, with recent court approval on October 30, 2023, aimed at settling financial obligations through asset sales.
- Total assets as of September 30, 2026, include a disposal group valued at PKR 36.57M, with liabilities primarily consisting of principal and mark-up payable to banks totaling PKR 1,046.04M and PKR 397.54M, respectively.
- The company has ceased operations since May 2014 and is currently implementing a restructuring plan to address its financial difficulties.