Azgard Nine Limited published its Annual Report for the year ended 30 June 2026, under the theme "Tomorrow's Denim Today". It reports a year of higher profit despite high energy tariffs, volatile raw material prices and shifting trade conditions.
Net sales rose 4.6 percent to Rs42.50 billion, almost all from exports: gross export sales were Rs40.69 billion. Net profit after tax rose 24 percent to Rs869.9 million, and earnings per share rose to Rs1.77. The Chairman credited rigorous cost control, operational efficiencies and a stronger focus on high-value-added products. The balance sheet also strengthened: equity including revaluation surplus grew to Rs15.64 billion and the debt-to-equity ratio improved to 25:75. The workforce grew from 8,310 to 10,839 people.
A milestone of the year was the company's biomass plant, which turns agricultural waste into renewable steam and power. Its civil, structural and mechanical works were completed and capitalised, with the steam turbine in final testing.
The report includes Azgard9's first sustainability disclosure prepared with reference to IFRS S1 and S2. It sets a baseline: 6 MW of biomass cogeneration and 1.5 MW of solar PV, an annual Higg FEM assessment, ZDHC-compliant chemistry, and 20.8 percent process water recovery. Water use fell 10 percent in absolute terms, greenhouse gas emissions 18 percent and chemical use 14 percent relative to production, and health and safety training exceeded 632,530 hours.
Key facts
- Net salesRs42.50 billion, up 4.6% (FY2025: Rs40.60 billion)
- Net profit after taxRs869.9 million, up 24% (FY2025: Rs701.8 million)
- Earnings per shareRs1.77 (FY2025: Rs1.43)
- Export sales (gross)Rs40.69 billion
- Employees10,839 (FY2025: 8,310)
- Sustainabilitywater down 10%; GHG down 18% and chemicals down 14% (normalised); 20.8% process water recovered
Higher profit, cleaner energy and transparent reporting show Azgard9 delivering "Tomorrow's Denim Today" for its brand partners and shareholders.
