جوبلی سپننگ نے مالی سال 2026 میں 1.33 روپے EPS اور 43.34 ملین پرافٹ رپورٹ کیا۔ Jubilee Spinning reports FY26 EPS of PKR 1.33; PAT at PKR 43.34M. Annual financial statements transmitted.
خلاصہ
جوبلی سپننگ اینڈ ویভিং ملز لمیٹڈ نے 30 جون 2026 کو ختم ہونے والے سال کے لیے سالانہ مالیاتی بیانات جاری کر دیے ہیں۔ کمپنی نے 43.34 ملین روپے کا بعد از ٹیکس منافع (EPS 1.33 روپے) رپورٹ کیا ہے، جبکہ گزشتہ سال 137.62 ملین روپے (EPS 4.24 روپے) منافع تھا۔ منافع میں سرمایہ کاری کی جائیداد کی ری ویلیویشن سے حاصل ہونے والے غیر حقیقی فوائد بھی شامل ہیں۔
اہم خطرات اور آڈیٹر کے تحفظات
- آڈیٹر کی منفی رائے: آڈیٹرز نے کمپنی کے مسلسل بند کاروبار، منفی ورکنگ کیپٹل اور گوئنگ کنسرن خدشات پر منفی رائے کا اظہار کیا ہے۔
- قانونی اور ٹیکس تنازعات: سوئی سدرن گیس (SSGCL) کے ساتھ گیس کنکشن اور بقایا جات پر مقدمات اور تنازعات جاری ہیں۔
- کارپوریٹ گورننس کی خامیاں: انٹرنل آڈیٹر کی عدم دستیابی اور دیگر ضوابط پر عمل درآمد میں کمی نوٹ کی گئی ہے۔
Executive Summary
Jubilee Spinning & Weaving Mills Limited has transmitted its annual audited financial statements for the year ended June 30, 2026. The company reported an after-tax profit of PKR 43.34 million (EPS of PKR 1.33) compared to PKR 137.62 million (EPS of PKR 4.24) in the previous year. The bottom line includes unrealized revaluation gains on investment property amounting to PKR 44.40 million. The company continues to operate on a rental model as its core textile manufacturing operations remain suspended since 2014.
Financial Highlights & Comparison (FY26 vs FY25)
| Metric (PKR Millions) | FY26 | FY25 | Change (%) |
|---|---|---|---|
| Revenue | 11.63 | 12.75 | -8.79% |
| Gross Profit | 5.20 | 5.36 | -2.99% |
| Other Income | 130.70 | 205.73 | -36.47% |
| Profit Before Tax | 58.62 | 139.99 | -58.13% |
| Profit After Tax | 43.34 | 137.62 | -68.51% |
| Earnings Per Share (EPS) | 1.33 | 4.24 | -68.63% |
Risks, Audit Reservations & Going Concern Concerns
- Adverse Auditor Opinion: Statutory auditors issued an adverse opinion highlighting ongoing material uncertainty regarding the company's ability to continue as a going concern due to suspended core operations, negative working capital (current liabilities exceeded current assets by PKR 4.62 million), and pending SECP approval for memorandum alterations.
- Long-Outstanding Receivables & Payables: Significant long-standing balances with associated companies (Cresox Private Limited) and unverified payables/liabilities remain a concern.
- Litigations & Gas Disconnection: Dispute with SSGCL regarding gas disconnections, GST, and GIDC arrears (totaling substantial disputed claims) continues under litigation.
- Lack of Internal Audit & Compliance Gaps: Multiple non-compliances with Code of Corporate Governance regulations noted, including vacant Head of Internal Audit position and lack of formal board evaluations.
Opportunities & Operations Outlook
The company continues to generate rental income from its premises and maintain a steady lease model. Management remains confident in stabilizing operations and utilizing solar energy and K-Electric connections to support tenants, anticipating improved future performance.
Investor Takeaway
While Jubilee Spinning reported a net profit of PKR 43.34 million for FY26, the bottom line is largely driven by unrealized investment property revaluation gains, while core textile operations remain dormant. Coupled with a severe adverse audit report, going concern doubts, and corporate governance non-compliances, the stock carries high risk. No dividend has been declared.