Shakarganj ends 2025 on a dour note, with revenue down 31%

Shakarganj Ltd closed its financial year ended 30 September 2025 with a sharply weaker top line and another year of red ink, underscoring how unforgiving Pakistan’s consumer and commodity markets can be when demand softens and working capital tightens.

In its annual results filing to the Pakistan Stock Exchange dated 13 January 2026, the company reported consolidated gross revenue of Rs16.36 billion, down from Rs23.82 billion a year earlier – a decline of 31%. After sales tax and related levies, net revenue fell to Rs14.00 billion from Rs21.80 billion the previous year. Losses persisted: loss after tax widened to Rs3.11 billion (from Rs2.97 billion in FY2024), while loss per share was reported at Rs21.17.

The topline contraction was accompanied by a deterioration at the gross margin line. Shakarganj’s consolidated accounts show a gross loss of Rs1.34 billion versus Rs397m the year before, reflecting the difficult arithmetic of a manufacturing business when volumes slow, fixed costs remain stubborn, and pricing power is limited.

For investors, the headline number is the revenue drop – but the filing also contains several cautionary signals that go beyond weak sales.