Bolan Castings Limited (BCL), a subsidiary of Millat Tractors Limited, has extended its temporary suspension of production due to a prolonged slump in the tractor industry, the company informed the Pakistan Stock Exchange (PSX) on Friday.
“In view of the continued downturn in the tractor industry and the resulting lack of orders, the production activities of Bolan Castings Limited will remain suspended till the situation improves, hopefully soon,” BCL stated in its notice.
The move follows an earlier announcement last month when the company first halted production, citing a shortage of customer orders. That situation, according to the company, remains unchanged.
Bolan Castings manufactures castings for tractors and automotive parts and was incorporated as a public limited company in 1982. It operates as part of the wider Millat Group, a major player in Pakistan’s agricultural machinery sector.
The company’s financial performance has reflected the broader industry slowdown. For the quarter ended March 31, 2025, BCL reported net sales of Rs622.19 million, a sharp decline from Rs953.70 million recorded in the same period last year. Profit after tax also fell significantly to Rs15.31 million from Rs68.50 million a year earlier.
The extended shutdown highlights ongoing demand-side pressures facing Pakistan’s agricultural machinery sector, which has been affected by reduced farmer incomes, high input costs, and uncertainty over upcoming government policies.
