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Leather & Tanneries

SGF Service GlobalFootwear Limited

Latest results: FY2025 · Dec 2025

Last close · 16 Oct 2026

Rs 105.78 -0.24%

Annual · FY2020 – FY2025

Service GlobalFootwear Limited (SGF) balance sheet

At the end of FY2025 (Jan – Dec 2025) Service GlobalFootwear Limited had total assets of Rs 20.9 bn, up 7.7% on FY2024. Current assets of Rs 11.0 bn covered current liabilities of Rs 10.4 bn 1.05 times. Total debt was Rs 8.4 bn, net debt Rs 7.1 bn. Shareholders' equity was Rs 8.4 bn (Rs 40.64 per share), 40.1% of total assets.

SGF balance sheet (annual) (Rs bn)
Rs bn FY2025 Jan – Dec 2025 FY2024 Jan – Dec 2024 FY2023 Jan – Dec 2023 FY2022 Jan – Dec 2022 FY2021 Jan – Dec 2021 FY2020 Jan – Dec 2020
Assets
Cash & short-term investments 1.2 0.8 3.0 0.2 0.9 1.3
Trade receivables 3.0 2.3 1.7 1.8 0.8 0.9
Inventories 4.1 4.3 4.7 3.4 2.1 1.4
Total current assets 11.0 12.5 12.4 7.8 6.4 8.4
Property, plant & equipment 4.2 3.0 3.1 2.6 2.1 2.1
Long-term investments 5.7 3.9 2.7 2.2 1.8 0.0
Other non-current assets 0.0 0.0 0.0 0.0 0.0 0.0
Total non-current assets 9.9 6.9 6.5 6.6 6.2 2.1
Total assets 20.9 19.4 19.0 14.4 12.6 10.5
Liabilities
Trade payables 1.8 1.4 1.9 1.3 1.4 1.4
Short-term borrowings & current portion of debt 7.3 9.1 8.3 5.5 3.9 4.3
Total current liabilities 10.4 11.5 11.9 7.7 5.5 5.8
Long-term debt 1.1 0.3 0.3 0.4 0.3 0.4
Other non-current liabilities 0.3 0.2 0.2 0.2 0.1 0.1
Total non-current liabilities 2.1 0.8 0.6 0.5 0.4 0.5
Total liabilities 12.5 12.2 12.5 8.2 5.8 6.3
Equity
Share capital 2.1 2.1 2.1 2.1 2.0 1.6
Reserves & retained earnings 4.5 3.4 2.7 2.4 4.7 2.6
Equity attributable to shareholders 8.4 7.2 6.5 6.2 6.7 4.2
Non-controlling interest 0.0 0.0 0.0 0.0 0.0 0.0
Total equity 8.4 7.2 6.5 6.2 6.7 4.2
Total liabilities & equity 20.9 19.4 19.0 14.4 12.6 10.5
Key figures
Total debt 8.4 9.3 8.6 5.9 4.2 4.7
Net debt / (net cash) 7.1 8.5 5.7 5.7 3.2 3.4
Shares outstanding mn 206.5 206.1 205.9 205.1 204.4 163.6
Common equity 8.4 7.2 6.5 6.2 6.7 4.2
Book value per share (Rs) Rs 40.64 34.95 31.50 30.06 32.92 25.87
SGF balance sheet — year-on-year change (Rs mn)
Rs mn FY2025 Jan – Dec 2025 FY2024 Jan – Dec 2024 FY2023 Jan – Dec 2023 FY2022 Jan – Dec 2022 FY2021 Jan – Dec 2021 FY2020 Jan – Dec 2020
Assets
Cash & short-term investments +56.1% -73.0% +1,726.0% -82.7% -25.5% —
Trade receivables +28.3% +36.7% -7.0% +125.0% -12.6% —
Inventories -5.3% -7.7% +35.9% +61.1% +50.0% —
Total current assets -12.2% +0.7% +59.9% +22.4% -24.5% —
Property, plant & equipment +42.2% -3.9% +18.8% +21.7% +2.1% —
Long-term investments +44.7% +46.6% +21.4% +22.8% — —
Other non-current assets +3.1% -60.6% +4.6% -4.9% +94.9% —
Total non-current assets +43.8% +5.7% -0.7% +6.1% +195.4% —
Total assets +7.7% +2.4% +32.1% +14.4% +19.4% —
Liabilities
Trade payables +30.7% -30.1% +52.9% -6.5% -1.1% —
Short-term borrowings & current portion of debt -19.6% +9.1% +50.7% +40.9% -7.8% —
Total current liabilities -8.9% -3.6% +54.9% +40.6% -5.7% —
Long-term debt +316.4% -18.4% -13.9% +42.9% -35.8% —
Other non-current liabilities +9.2% +10.4% +37.3% +38.2% +15.4% —
Total non-current liabilities +172.7% +29.8% +14.6% +40.4% -25.5% —
Total liabilities +2.5% -2.0% +52.4% +40.6% -7.3% —
Equity
Share capital +0.2% +0.1% +0.4% +0.3% +25.0% —
Reserves & retained earnings +32.7% +25.1% +13.0% -48.8% +80.5% —
Equity attributable to shareholders +16.5% +11.0% +5.2% -8.4% +59.1% —
Non-controlling interest — — — — — —
Total equity +16.5% +11.0% +5.2% -8.4% +59.1% —
Total liabilities & equity +7.7% +2.4% +32.1% +14.4% +19.4% —
Key figures
Total debt -10.5% +8.1% +46.8% +41.0% -10.2% —
Net debt / (net cash) -16.7% +50.2% -0.6% +76.7% -4.5% —
Shares outstanding — — — — — —
Common equity +16.5% +11.0% +5.2% -8.4% +59.1% —
Book value per share (Rs) +16.3% +11.0% +4.8% -8.7% +27.2% —

Change against the previous fiscal year; shown when the earlier figure is positive.

SGF balance sheet — common size (Rs mn)
Rs mn FY2025 Jan – Dec 2025 FY2024 Jan – Dec 2024 FY2023 Jan – Dec 2023 FY2022 Jan – Dec 2022 FY2021 Jan – Dec 2021 FY2020 Jan – Dec 2020
Assets
Cash & short-term investments 5.9% 4.1% 15.5% 1.1% 7.4% 11.9%
Trade receivables 14.3% 12.0% 9.0% 12.8% 6.5% 8.9%
Inventories 19.5% 22.2% 24.6% 24.0% 17.0% 13.5%
Total current assets 52.5% 64.4% 65.5% 54.2% 50.6% 80.0%
Property, plant & equipment 20.1% 15.2% 16.2% 18.1% 17.0% 19.8%
Long-term investments 27.3% 20.3% 14.2% 15.4% 14.4% 0.0%
Other non-current assets 0.0% 0.0% 0.1% 0.1% 0.1% 0.1%
Total non-current assets 47.5% 35.6% 34.5% 45.8% 49.4% 20.0%
Total assets 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Liabilities
Trade payables 8.5% 7.0% 10.2% 8.8% 10.8% 13.1%
Short-term borrowings & current portion of debt 34.9% 46.8% 43.9% 38.5% 31.2% 40.5%
Total current liabilities 49.9% 59.0% 62.7% 53.5% 43.5% 55.1%
Long-term debt 5.0% 1.3% 1.6% 2.5% 2.0% 3.7%
Other non-current liabilities 1.2% 1.2% 1.1% 1.1% 0.9% 0.9%
Total non-current liabilities 10.0% 4.0% 3.1% 3.6% 2.9% 4.7%
Total liabilities 59.9% 63.0% 65.8% 57.1% 46.4% 59.8%
Equity
Share capital 9.9% 10.6% 10.8% 14.3% 16.3% 15.5%
Reserves & retained earnings 21.5% 17.4% 14.3% 16.7% 37.3% 24.7%
Equity attributable to shareholders 40.1% 37.0% 34.2% 42.9% 53.6% 40.2%
Non-controlling interest 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Total equity 40.1% 37.0% 34.2% 42.9% 53.6% 40.2%
Total liabilities & equity 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Key figures
Total debt 40.0% 48.1% 45.5% 41.0% 33.2% 44.2%
Net debt / (net cash) 34.0% 44.0% 30.0% 39.9% 25.8% 32.3%
Common equity 40.1% 37.0% 34.2% 42.9% 53.6% 40.2%

Each line as a percentage of total assets.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. Updated 15 Oct 2026.

All reported line items 146
SGF balance sheet — all reported line items (Rs bn)
Rs bn FY2025 Jan – Dec 2025 FY2024 Jan – Dec 2024 FY2023 Jan – Dec 2023 FY2022 Jan – Dec 2022 FY2021 Jan – Dec 2021 FY2020 Jan – Dec 2020
Cash & Cash Equivalents 1.1 0.8 3.0 0.2 0.9 1.3
Cash & Short Term Investments 1.2 0.8 3.0 0.2 0.9 1.3
Short-Term Investments - Total 0.1 — — — — —
Derivative Financial Instruments - Hedging - Short-Term 0.0 — — — — —
Loans & Receivables - Net - Short-Term 5.3 7.2 4.7 3.9 2.9 5.3
Loans & Receivables - Total 5.4 7.2 5.4 5.7 5.2 5.3
Trade Accounts & Trade Notes Receivable - Net 3.0 2.3 1.7 1.8 0.8 0.9
Trade Accounts & Trade Notes Receivable - Gross 3.1 2.4 1.7 — — —
Provision - Trade Accounts & Trade Notes Receivable 0.1 0.1 0.0 — — —
Loans - Short-Term 0.3 2.9 1.5 1.2 1.6 3.1
Income Tax - Receivables - Short-Term 1.3 — — — — —
Receivables - Other - Total 0.7 2.0 1.5 0.9 0.6 1.2
Derivative Financial Instruments - Hedging - Total 0.0 — — — — —
Accounts & Notes Receivable - Trade - Gross - Total 3.1 2.4 1.7 — — —
Inventories - Total 4.1 4.3 4.7 3.4 2.1 1.4
Inventories - Raw Materials 0.2 0.2 0.1 0.1 0.0 0.0
Inventories - Finished Goods 3.9 4.2 4.6 3.4 2.1 1.4
Prepaid Expenses - Short-Term 0.3 0.2 0.1 0.2 0.4 0.4
Investments - Total 5.8 3.9 2.7 2.2 1.8 0.0
Property, Plant & Equipment - Net - Total 4.2 3.0 3.1 2.6 2.1 2.1
Property, Plant & Equipment - Gross - Total 6.1 4.6 4.4 3.7 — —
Property, Plant & Equipment - Accumulated Depreciation & Impairment - Total 1.9 1.6 1.3 1.1 — —
Other Assets - Total 0.0 0.0 0.0 0.0 0.0 0.0
Investments in Associates, Joint Ventures and Unconsolidated Subsidiaries — — 0.0 — — —
Total Current Assets 11.0 12.5 12.4 7.8 6.4 8.4
Investments - Long-Term 5.7 3.9 2.7 2.2 1.8 0.0
Receivables & Loans - Long-Term 0.0 0.0 0.8 1.8 2.3 0.0
Loans - Long-Term 0.0 0.0 0.8 1.8 2.3 0.0
Property, Plant & Equipment - excluding Assets Leased Out - Net - Total 4.2 3.0 3.1 2.6 — —
Land & Buildings - Net 1.3 1.3 1.4 1.0 — —
Land/Improvements - Net 0.4 0.4 0.4 0.4 — —
Buildings - Net 0.9 0.9 1.0 0.6 — —
Leasehold Improvements - Net 0.0 0.0 0.0 — — —
Plant, Machinery & Equipment - Net 1.4 1.2 1.2 1.0 — —
Transportation Equipment - Net 0.3 0.2 0.2 0.0 — —
Construction in Progress - Net 1.1 0.1 0.1 0.3 — —
Property, Plant & Equipment - Other - Net 0.4 0.4 0.4 0.3 — —
Property, Plant & Equipment - excluding Assets Leased Out - Gross 6.1 4.6 4.4 3.7 — —
Land & Buildings - Gross 1.8 1.7 1.7 1.2 — —
Land/Improvements - Gross 0.4 0.4 0.4 0.4 — —
Buildings - Gross 1.4 1.3 1.3 0.9 — —
Leasehold Improvements - Gross 0.0 0.0 0.0 — — —
Plant, Machinery & Equipment - Gross 2.5 2.1 2.0 1.7 — —
Transportation Equipment - Gross 0.4 0.2 0.2 0.0 — —
Construction in Progress - Gross 1.1 0.1 0.1 0.3 — —
Total Assets 20.9 19.4 19.0 14.4 12.6 10.5
Property, Plant & Equipment - Other - Gross 0.8 0.7 0.6 0.5 — —
Debt - Total 8.4 9.3 8.6 5.9 4.2 4.7
Short-Term Debt & Current Portion of Long-Term Debt 7.3 9.1 8.3 5.5 3.9 4.3
Property, Plant & Equipment - excluding Assets Leased Out - Accumulated Depreciation & Impairment - Total 1.9 1.6 1.3 1.1 — —
Land & Buildings - Accumulated Depreciation & Impairment 0.5 0.4 0.3 0.3 — —
Land/Improvements - Accumulated Depreciation & Impairment 0.0 0.0 0.0 0.0 — —
Buildings - Accumulated Depreciation & Impairment 0.5 0.4 0.3 0.3 — —
Leasehold Improvements - Accumulated Depreciation & Impairment 0.0 0.0 0.0 — — —
Current Portion of Long-Term Debt including Capitalized Leases 0.2 0.1 0.1 0.0 — —
Plant, Machinery & Equipment - Accumulated Depreciation & Impairment 1.1 0.9 0.8 0.6 — —
Transportation Equipment - Accumulated Depreciation & Impairment 0.1 0.1 0.0 0.0 — —
Short-Term Debt & Notes Payable 7.1 9.0 8.3 5.5 3.9 4.3
Debt - Long-Term - Total 1.1 0.3 0.3 0.4 0.3 0.4
Property, Plant & Equipment - Other - Accumulated Depreciation & Impairment 0.3 0.3 0.2 0.2 — —
Current Portion of Long-Term Debt excluding Capitalized Leases 0.2 0.1 0.1 0.0 — —
Long-Term Debt excluding Capitalized Leases 1.1 0.3 0.3 0.4 0.3 0.4
Other Non-Current Assets - Total 0.0 0.0 0.0 0.0 0.0 0.0
Debt - Non-Convertible - Long-Term 1.1 0.3 0.3 0.4 0.3 0.4
Dividends Payable 0.0 0.0 0.6 0.0 — —
Deferred Tax & Investment Tax Credits - Long-Term 0.8 0.3 0.1 0.0 0.0 0.0
Deferred Tax - Liability - Long-Term 0.8 0.3 0.1 0.0 0.0 0.0
Payables & Accrued Expenses 3.1 2.3 2.8 2.1 1.4 1.4
Trade Account Payables - Total 1.8 1.4 1.9 1.3 1.4 1.4
Other Non-Current Assets 0.0 0.0 0.0 0.0 0.0 0.0
Accrued Expenses 1.3 0.9 0.8 0.8 0.0 0.0
Total Liabilities 12.5 12.2 12.5 8.2 5.8 6.3
Shareholders' Equity - Attributable to Parent Shareholders - Total 8.4 7.2 6.5 6.2 6.7 4.2
Total Non-Current Assets 9.9 6.9 6.5 6.6 6.2 2.1
Common Equity Attributable to Parent Shareholders 8.4 7.2 6.5 6.2 6.7 4.2
Common Equity - Contributed 3.9 3.8 3.8 3.8 2.0 1.6
Common Stock - Issued & Paid 2.1 2.1 2.1 2.1 2.0 1.6
Equity - Non-Contributed - Reserves & Retained Earnings 4.5 3.4 2.7 2.4 4.7 2.6
Retained Earnings - Total 4.5 3.4 2.7 2.4 4.7 2.6
Trade Accounts Payable & Accruals - Short-Term 3.1 2.3 2.8 2.1 1.4 1.4
Comprehensive Income - Accumulated - Total (0.0) (0.0) (0.0) — — —
Trade Accounts & Trade Notes Payable - Short-Term 1.8 1.4 1.9 1.3 1.4 1.4
Accrued Expenses - Short-Term 1.3 0.9 0.8 0.8 0.0 0.0
Foreign Currency Translation Adjustment - Accumulated (0.0) (0.0) (0.0) — — —
Income Taxes - Payable - Short-Term 0.0 0.0 0.0 0.0 — —
Dividends/Distributions Payable 0.0 0.0 0.6 0.0 — —
Other Current Liabilities - Total 0.0 0.1 0.1 0.1 0.1 0.1
Common Equity - Total 8.4 7.2 6.5 6.2 6.7 4.2
Deferred Income - Short-Term 0.0 0.1 0.1 0.1 — —
Common Stock - Additional Paid in Capital including Option Reserve 1.8 1.7 1.7 1.7 — —
Total Shareholders' Equity - including Minority Interest & Hybrid Debt 8.4 7.2 6.5 6.2 6.7 4.2
Total Liabilities & Equity 20.9 19.4 19.0 14.4 12.6 10.5
Other Current Liabilities — — — — 0.1 0.1
Total Current Liabilities 10.4 11.5 11.9 7.7 5.5 5.8
Other Non-Current Liabilities - Total 0.3 0.2 0.2 0.2 0.1 0.1
Provisions - Long-Term 0.3 0.2 0.2 0.2 0.1 0.1
Post Employment Benefits - Pension & Other - Long-Term 0.3 0.2 0.2 0.2 0.1 0.1
Total Non-Current Liabilities 2.1 0.8 0.6 0.5 0.4 0.5
Common Shares - Issued - Total mn 206.5 206.1 205.9 205.1 204.4 163.6
Common Shares - Outstanding - Total mn 206.5 206.1 205.9 205.1 204.4 163.6
Common Shares - Treasury - Total mn 0.0 0.0 0.0 0.0 0.0 0.0
Common Shares - Authorized - Issue Specific mn 250.0 250.0 250.0 250.0 250.0 250.0
Common Shares - Issued - Issue Specific mn 206.5 206.1 205.9 205.1 204.4 163.6
Common Shares - Outstanding - Issue Specific mn 206.5 206.1 205.9 205.1 204.4 163.6
Common Shares - Treasury - Issue Specific mn 0.0 0.0 0.0 0.0 0.0 0.0
Asset Allocation Factor - Issue Specific 1.00× 1.00× 1.00× 1.00× 1.00× 1.00×
Debt including Finance and Operating Lease Liabilities - Supplemental 8.4 9.3 8.6 5.9 4.2 4.7
Net Debt 7.1 8.5 5.7 5.7 3.2 3.4
Asset Accruals 19.8 18.6 15.3 12.4 9.4 9.3
Cash & Cash Equivalents - Total 1.1 0.8 3.0 0.2 0.9 1.3
Cash & Short Term Investments - Total 1.2 0.8 3.0 0.2 0.9 1.3
Debt - including Preferred Equity & Minority Interest - Total 8.4 9.3 8.6 5.9 4.2 4.7
Investments - Permanent 5.7 3.9 2.7 2.2 1.8 0.0
Net Book Capital 15.5 15.7 12.2 11.9 10.0 7.6
Net Operating Assets 15.5 15.7 12.2 11.9 10.0 7.6
Provisions - Total 1.0 0.5 0.3 0.2 0.1 0.1
Shareholders Equity - Common 8.4 7.2 6.5 6.2 6.7 4.2
Tangible Total Equity 8.4 7.2 6.5 6.2 6.7 4.2
Tangible Book Value 8.4 7.2 6.5 6.2 6.7 4.2
Total Book Capital 16.8 16.5 15.1 12.1 10.9 8.9
Total Capital 16.8 16.5 15.1 12.1 10.9 8.9
Total Long Term Capital 10.5 8.0 7.1 6.7 7.1 4.7
Unearned Revenue - Total 0.0 0.1 0.1 0.1 — —
Book Value excluding Other Equity 8.4 7.2 6.5 6.2 6.7 4.2
Income Taxes - Payable - Long-Term & Short-Term 0.0 0.0 0.0 0.0 — —
Contract Liabilities - Short-Term - Advance Consideration & Progress Billings in Excess of Unbilled Revenue 0.0 0.1 0.1 0.1 — —
Accruals - Short-Term (0.6) 0.3 (2.4) (0.1) (0.0) 1.4
Cash & Short Term Investments - Net of Debt (7.1) (8.5) (5.7) (5.7) (3.2) (3.4)
Current Portion of Long-Term Debt including Capitalized Leases & Hybrid Financial Instruments 0.2 0.1 0.1 0.0 — —
Total Fixed Assets - Net 9.9 6.9 5.8 4.8 3.9 2.1
Working Capital 0.5 1.1 0.5 0.1 0.9 2.6
Interest Bearing Liabilities - Total 8.4 9.3 8.6 5.9 4.2 4.7
Working Capital - Non-Cash (0.7) 0.3 (2.4) (0.1) (0.0) 1.4
Working Capital excluding Other Current Assets & Liabilities 0.6 1.1 0.7 0.2 1.0 2.8
Net Debt Including Preferred Equity & Minority Interest 7.1 8.5 5.7 5.7 3.2 3.4
Other Short-Term & Long-Term Assets - Total 0.0 0.0 0.0 0.0 0.0 0.0
Other Short-Term & Long-Term Liabilities - Total 0.0 0.1 0.1 0.1 0.1 0.1
Total Current Assets excluding Total Inventories 6.9 8.2 7.8 4.3 4.2 7.0
Tangible Book Value excluding Other Equity 8.4 7.2 6.5 6.2 6.7 4.2
Total Debt Excluding Islamic 8.4 9.3 8.6 5.9 4.2 4.7
Trade Accounts & Trade Notes Receivable - Net - Total 3.0 2.3 1.7 1.8 0.8 0.9
Provision for Doubtful Accounts & Notes Receivable - Total 0.1 0.1 0.0 — — —
Current Liabilities excluding Current Debt - Total 3.1 2.4 3.6 2.2 1.5 1.5
Cash in Hand & with Banks - Total 1.1 0.8 3.0 0.2 0.9 1.3
Current Assets excluding Cash & Short Term Investments - Total 9.8 11.7 9.5 7.6 5.4 7.2
Cash, Short Term Investments & Accounts Receivable - Total 4.2 3.1 4.7 2.0 1.8 2.2

Every line the company reported, in the original order and wording, without regrouping or signs changed. Latest 6 periods; the table above goes back further.