Last close · 16 Oct 2026
Rs 37.34 -4.18%
Financials
Bawany Air Products Limited (BAPL) financials
20 years of annual results (FY2007 – FY2026), 70 quarters.
It made a loss of Rs 63.0 mn attributable to shareholders (EPS Rs -0.84).
No cash dividend was declared for FY2026.
Net debt stood at Rs 71.6 mn.
Return on equity was -2.0%.
At Rs 37.34 (close on 16 Oct 2026) the shares trade at 0.90× book value.
Fundamentals
BAPL at a glance
Profit attributable to shareholders · FY2026
-Rs 63.0 mn
EPS – basic (Rs) · FY2026
Rs -0.84
Dividend per share (Rs) · FY2026
Rs 0.00
Debt to equity · FY2026
2.3%
+2.0 pts year on year
Financial statements
Income statement
Revenue, costs, profit and earnings per share.
- Revenue · FY2026
- —
- Profit attributable · FY2026
- -Rs 63.0 mn
Balance sheet
Assets, liabilities, debt and shareholders' equity.
- Total assets · FY2026
- Rs 3.2 bn
- Equity · FY2026
- Rs 3.1 bn
Financial highlights
BAPL financial results
| Rs mn | FY2026 Jul 2025 – Jun 2026 | FY2025 Jul 2024 – Jun 2025 | FY2024 Jul 2023 – Jun 2024 | FY2023 Jul 2022 – Jun 2023 | FY2022 Jul 2021 – Jun 2022 | FY2021 Jul 2020 – Jun 2021 | FY2020 Jul 2019 – Jun 2020 | FY2019 Jul 2018 – Jun 2019 | FY2018 Jul 2017 – Jun 2018 | FY2017 * Jul 2016 – Jun 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 12.8 | 51.9 | 89.1 | 82.7 |
| Gross profit | — | 0.0 | 0.0 | 0.0 | 0.0 | (0.7) | (9.0) | (3.6) | 0.3 | (1.9) |
| Operating profit | (48.5) | (52.2) | (22.5) | (10.8) | (10.1) | (18.8) | (17.1) | (14.6) | (15.7) | (18.3) |
| Profit after tax | (63.0) | (54.0) | (22.6) | 59.4 | (9.1) | (18.1) | (87.2) | (14.5) | (16.5) | (16.0) |
| Profit attributable to shareholders | (63.0) | (54.0) | (22.6) | 59.4 | (9.1) | (18.1) | (87.2) | (14.5) | (16.5) | (16.0) |
| EPS – basic (Rs) Rs | (0.84) | (1.29) | (0.54) | 1.42 | (0.22) | (0.43) | (2.08) | (0.34) | (0.39) | (0.38) |
| Dividend per share (Rs) Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total assets | 3,179.1 | 3,184.8 | 31.3 | 94.1 | 135.1 | 135.5 | 159.4 | 174.3 | 196.9 | 202.5 |
| Total equity | 3,104.8 | 3,167.9 | 24.8 | 47.4 | (12.0) | (2.9) | 15.2 | 37.9 | 52.1 | 64.3 |
| Total debt | 72.8 | 11.6 | — | — | 0.0 | 0.0 | 12.0 | 12.0 | 12.0 | 13.2 |
| Net cash from operating activities | (62.0) | (3,227.4) | (35.5) | (27.9) | (6.2) | (28.3) | (9.8) | (7.0) | (3.4) | (4.6) |
| Capital expenditure | (0.2) | (0.1) | 0.0 | (0.1) | — | — | — | — | — | 0.0 |
| Free cash flow (operating cash flow − capex) | (62.2) | (3,227.5) | (35.5) | (28.0) | — | — | — | — | — | (4.6) |
| Rs mn | TTM to Jun 2026 | Q4 FY2026 Apr – Jun 2026 | Q3 FY2026 Jan – Mar 2026 | Q2 FY2026 Oct – Dec 2025 | Q1 FY2026 Jul – Sep 2025 | Q4 FY2025 Apr – Jun 2025 | Q3 FY2025 Jan – Mar 2025 | Q2 FY2025 Oct – Dec 2024 | Q1 FY2025 Jul – Sep 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0 | (0.0) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Gross profit | 0.0 | (0.0) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Operating profit | (49.5) | (46.4) | 2.5 | (2.1) | (3.5) | (47.3) | (1.0) | (2.1) | (1.9) |
| Profit after tax | (63.0) | (8.5) | (14.3) | (34.5) | (5.7) | (47.6) | (1.4) | (3.2) | (1.9) |
| Profit attributable to shareholders | (63.0) | (8.5) | (14.3) | (34.5) | (5.7) | (47.6) | (1.4) | (3.2) | (1.9) |
| EPS – basic (Rs) Rs | (1.26) | (0.11) | (0.19) | (0.82) | (0.13) | (1.12) | (0.03) | (0.08) | (0.04) |
| Dividend per share (Rs) Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total assets | 3,179.1 | 3,179.1 | 3,237.9 | 3,275.9 | 3,293.0 | 3,184.8 | 2,283.6 | 2,286.7 | 136.3 |
| Total equity | 3,104.8 | 3,104.8 | 3,113.3 | 3,127.6 | 3,162.2 | 3,167.9 | 2,268.4 | 2,269.7 | 130.1 |
| Total debt | 72.8 | 72.8 | 70.6 | 76.7 | 90.1 | 11.6 | — | — | — |
| Net cash from operating activities | (62.0) | (74.1) | (17.4) | (0.2) | 29.7 | (956.5) | (2,277.1) | 127.0 | (120.7) |
| Capital expenditure | (0.2) | 0.0 | 0.0 | 0.0 | (0.2) | 0.0 | 0.0 | (0.0) | (0.1) |
| Free cash flow (operating cash flow − capex) | (62.2) | (74.1) | (17.4) | (0.2) | 29.5 | (956.5) | (2,277.1) | 127.0 | (120.9) |
Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets. Free cash flow and book value per share are calculated by Smart Money; TTM = the latest four quarters. Updated 16 Oct 2026.