Colony Textile Mills reports a sharply higher annual loss and receives an adverse audit opinion
Financial Resultfor the year ended June 30, 2026, Colony Textile Mills reported a net loss of Rs. 11,052.315 million, compared with Rs. 2,227.096 million in the prior year. Revenue increased, but gross and operating losses widened and loss per share increased. The auditors issued an adverse opinion, citing substantial going-concern uncertainty and stating that use of the going-concern basis was inappropriate. Management describes a proposed debt-asset swap as part of a turnaround plan, with required approvals still to be sought.
Payout
- No cash dividend
Key Findings
- Revenue rose to Rs. 20,528.423 million from Rs. 16,888.072 million.
- Net loss widened to Rs. 11,052.315 million from Rs. 2,227.096 million; loss per share increased to Rs. 22.19 from Rs. 4.47.
- The auditors issued an adverse opinion and said the going-concern basis was inappropriate in the circumstances.
- Management plans to seek approvals for a debt-asset swap involving the Riawind weaving unit; lenders have favourably considered the proposal.
- No cash dividend, bonus shares or rights shares were declared. The AGM is scheduled for November 27, 2026.
Financial Performance
| Metric | PreviousYear ended June 30, 2025 | CurrentYear ended June 30, 2026 | Change |
|---|---|---|---|
| Sales - net | PKR 16.89B | PKR 20.53B | +21.6% |
| Gross profit / (loss) | -PKR 1.33B | -PKR 2.03B | -52.5% |
| Operating profit / (loss) | -PKR 1.95B | -PKR 2.55B | -30.8% |
| Profit / (loss) for the year | -PKR 2.23B | -PKR 11.05B | -396.3% |
| Earnings/(loss) per share - basic and diluted | (4.47) | (22.19) | -396.4% |
| Finance cost | PKR 1.4B | PKR 1.29B | -8.5% |
| Cash and bank balances | PKR 46.74M | PKR 30.23M | -35.3% |
| Short term borrowings | PKR 1.51B | PKR 1.48B | -1.8% |
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Highlights summarize the key points from the company's official PSX filing. View the original filing for the complete details before making financial decisions.
