Skip to content
Smart Money

Power Generation & Distribution

GEMMEL Mughal Energy Limited(GEM)

Latest results: FY2026 · Jun 2026

Last close · 16 Oct 2026

Rs 36.25 -2.68%

Financials

Mughal Energy Limited(GEM) (GEMMEL) financials

7 years of annual results (FY2020 – FY2026), 8 quarters.

Mughal Energy Limited(GEM) (GEMMEL) reported revenue of Rs 0 for FY2026 (Jul 2025 – Jun 2026).

Profit attributable to shareholders was Rs 9.1 mn (EPS Rs 0.05).

No cash dividend was declared for FY2026.

Net debt stood at Rs 7.7 bn.

Return on equity was 0.2%.

At Rs 36.25 (close on 16 Oct 2026) the shares trade at 725.0× earnings (FY2026) and 1.74× book value.

Fundamentals

GEMMEL at a glance

Revenue · FY2026

Rs 0

Profit attributable to shareholders · FY2026

Rs 9.1 mn

EPS – basic (Rs) · FY2026

Rs 0.05

Dividend per share (Rs) · FY2026

Rs 0.00

Debt to equity · FY2026

191.8%

+86.5 pts year on year

Financial statements

Income statement

Revenue, costs, profit and earnings per share.

Revenue · FY2026
Rs 0
Profit attributable · FY2026
Rs 9.1 mn

Balance sheet

Assets, liabilities, debt and shareholders' equity.

Total assets · FY2026
Rs 12.0 bn
Equity · FY2026
Rs 4.0 bn

Cash flow

Cash from operations, investment, financing and free cash flow.

Operating cash flow · FY2026
-Rs 1.9 bn
Free cash flow · FY2026
-Rs 3.9 bn

Financial highlights

GEMMEL financial results

GEMMEL annual financial highlights (Rs bn)
Rs bn 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
Revenue 0.0 0.0 0.0 0.0 —
Gross profit 0.0 0.0 0.0 0.0 —
Operating profit (0.1) (0.0) (0.0) (0.0) (0.0)
Profit after tax 0.0 (0.0) (0.0) (0.0) (0.0)
Profit attributable to shareholders 0.0 (0.0) (0.0) (0.0) (0.0)
EPS – basic (Rs) Rs 0.05 (0.12) (0.11) (0.57) (0.21)
Dividend per share (Rs) Rs 0.00 0.00 0.00 0.00 0.00
Total assets 12.0 7.2 5.1 3.4 1.8
Total equity 4.0 3.4 3.5 3.1 1.8
Total debt 7.8 3.6 1.6 0.3 —
Net cash from operating activities (1.9) (0.2) (0.1) (0.2) (0.1)
Capital expenditure (2.0) (1.8) (1.3) (0.3) (0.9)
Free cash flow (operating cash flow − capex) (3.9) (2.0) (1.4) (0.5) (1.0)
GEMMEL quarterly financial highlights (Rs bn)
Rs bn 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
Gross profit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Operating profit (0.1) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0)
Profit after tax 0.0 0.0 0.0 0.0 (0.0) (0.0) (0.0) (0.0) (0.0)
Profit attributable to shareholders 0.0 0.0 0.0 0.0 (0.0) (0.0) (0.0) (0.0) (0.0)
EPS – basic (Rs) Rs 0.06 0.06 0.01 0.00 (0.01) (0.07) (0.03) (0.03) (0.01)
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 12.0 12.0 10.3 9.3 7.6 7.2 6.3 5.5 5.2
Total equity 4.0 4.0 3.4 3.4 3.4 3.4 3.4 3.4 3.5
Total debt 7.8 7.8 6.6 5.5 4.0 3.6 2.6 1.9 1.6
Net cash from operating activities (1.9) (1.0) (0.7) (0.1) (0.1) (0.2) 0.0 (0.0) (0.0)
Capital expenditure (2.0) (0.1) (0.2) (1.4) (0.3) (0.8) (0.7) (0.2) (0.1)
Free cash flow (operating cash flow − capex) (3.9) (1.1) (0.9) (1.5) (0.5) (1.0) (0.6) (0.2) (0.2)

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.

GEMMEL charts

Revenue and profit Revenue Profit attributable
Revenue and profit Rs 9 mn -Rs 28 mn Profit attributable FY20: -Rs 1.4 mn FY20 Profit attributable FY21: -Rs 2.3 mn FY21 Profit attributable FY22: -Rs 9.4 mn FY22 Revenue FY23: Rs 0 Profit attributable FY23: -Rs 27.6 mn FY23 Revenue FY24: Rs 0 Profit attributable FY24: -Rs 19.2 mn FY24 Revenue FY25: Rs 0 Profit attributable FY25: -Rs 21.3 mn FY25 Revenue FY26: Rs 0 Profit attributable FY26: Rs 9.1 mn FY26
Cash flow Operating cash flow Capex Free cash flow
Cash flow -Rs 4 bn Operating cash flow FY20: -Rs 2.3 mn Capex FY20: -Rs 92.0 mn Free cash flow FY20: -Rs 94.3 mn FY20 Operating cash flow FY21: -Rs 1.0 mn Capex FY21: -Rs 331.3 mn Free cash flow FY21: -Rs 332.4 mn FY21 Operating cash flow FY22: -Rs 132.9 mn Capex FY22: -Rs 873.0 mn Free cash flow FY22: -Rs 1.0 bn FY22 Operating cash flow FY23: -Rs 188.1 mn Capex FY23: -Rs 300.4 mn Free cash flow FY23: -Rs 488.5 mn FY23 Operating cash flow FY24: -Rs 132.8 mn Capex FY24: -Rs 1.3 bn Free cash flow FY24: -Rs 1.4 bn FY24 Operating cash flow FY25: -Rs 224.2 mn Capex FY25: -Rs 1.8 bn Free cash flow FY25: -Rs 2.0 bn FY25 Operating cash flow FY26: -Rs 1.9 bn Capex FY26: -Rs 2.0 bn Free cash flow FY26: -Rs 3.9 bn FY26