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Power Generation & Distribution

SPWL Saif Power Limited

Latest results: FY2025 · Dec 2025

Watch SPWL · free results alerts

Last close · 16 Oct 2026

Rs 7.78 0.00%

Annual · FY2014 – FY2025

Saif Power Limited (SPWL) balance sheet

At the end of FY2025 (Jan – Dec 2025) Saif Power Limited had total assets of Rs 17.1 bn, down 18.0% on FY2024. Current assets of Rs 6.2 bn covered current liabilities of Rs 6.1 bn 1.02 times. Total debt was Rs 4.7 bn, net debt Rs 4.1 bn. Shareholders' equity was Rs 10.4 bn (Rs 26.94 per share), 60.7% of total assets.

SPWL 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
Assets
Cash & short-term investments 0.6 0.0 4.0 7.2 1.0
Trade receivables 3.5 7.5 9.8 11.6 12.7
Inventories 0.4 0.4 0.4 0.4 0.2
Other current assets 0.0 0.0 0.0 0.0 0.0
Total current assets 6.2 9.8 15.1 21.0 15.3
Property, plant & equipment 9.7 10.3 10.9 11.3 11.8
Intangible assets — — — 0.0 0.0
Other non-current assets — — — 0.0 0.0
Total non-current assets 11.0 11.1 11.4 11.3 11.8
Total assets 17.1 20.9 26.5 32.4 27.1
Liabilities
Trade payables 1.9 0.4 0.3 0.2 1.5
Short-term borrowings & current portion of debt 4.0 8.0 12.4 16.1 8.1
Total current liabilities 6.1 9.6 14.3 18.0 10.7
Long-term debt 0.7 0.1 0.0 0.3 0.4
Other non-current liabilities — 0.0 0.0 0.0 0.0
Total non-current liabilities 0.7 0.1 0.0 0.3 0.4
Total liabilities 6.7 9.7 14.3 18.3 11.1
Equity
Share capital 3.9 3.9 3.9 3.9 3.9
Reserves & retained earnings 6.5 7.4 8.3 10.2 12.1
Equity attributable to shareholders 10.4 11.2 12.2 14.1 15.9
Non-controlling interest 0.0 0.0 0.0 0.0 0.0
Total equity 10.4 11.2 12.2 14.1 16.0
Total liabilities & equity 17.1 20.9 26.5 32.4 27.1
Key figures
Total debt 4.7 8.0 12.4 16.4 8.6
Net debt / (net cash) 4.1 8.0 8.5 9.2 7.6
Shares outstanding mn 386.5 386.5 386.5 386.5 386.5
Common equity 10.4 11.2 12.2 14.1 15.9
Book value per share (Rs) Rs 26.94 29.06 31.48 36.40 41.21
SPWL 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
Assets
Cash & short-term investments +19,437.6% -99.9% -45.4% +612.5% +3,705.2%
Trade receivables -54.1% -23.5% -15.7% -8.0% +11.4%
Inventories 0.0% 0.0% -0.1% +62.6% +45.4%
Other current assets +0.0% 0.0% +0.1% -19.4% -49.2%
Total current assets -37.2% -34.9% -28.0% +37.2% +23.9%
Property, plant & equipment -6.2% -5.3% -4.1% -3.5% -10.1%
Intangible assets — — — — -100.0%
Other non-current assets — — — -100.0% -95.0%
Total non-current assets -0.9% -2.8% +0.3% -3.5% -10.6%
Total assets -18.0% -21.1% -18.1% +19.5% +6.1%
Liabilities
Trade payables +335.0% +33.3% +114.1% -90.0% +112.5%
Short-term borrowings & current portion of debt -49.7% -35.8% -23.1% +98.1% +10.0%
Total current liabilities -37.0% -32.9% -20.3% +68.3% +19.1%
Long-term debt +982.0% +558.1% -96.7% -36.2% -26.4%
Other non-current liabilities — — — — -100.0%
Total non-current liabilities +982.0% +558.1% -96.7% -36.2% -26.6%
Total liabilities -30.5% -32.5% -21.5% +64.2% +16.3%
Equity
Share capital 0.0% 0.0% 0.0% 0.0% 0.0%
Reserves & retained earnings -11.1% -11.3% -18.6% -15.4% +0.0%
Equity attributable to shareholders -7.3% -7.7% -13.5% -11.7% +0.0%
Non-controlling interest — — -100.0% +27.3% -0.4%
Total equity -7.3% -7.7% -13.7% -11.6% +0.0%
Total liabilities & equity -18.0% -21.1% -18.1% +19.5% +6.1%
Key figures
Total debt -41.7% -35.4% -24.4% +91.2% +7.2%
Net debt / (net cash) -49.5% -5.2% -7.7% +21.1% -5.2%
Shares outstanding — — — — —
Common equity -7.3% -7.7% -13.5% -11.7% +0.0%
Book value per share (Rs) -7.3% -7.7% -13.5% -11.7% +0.0%

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

SPWL 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
Assets
Cash & short-term investments 3.7% 0.0% 14.9% 22.4% 3.8%
Trade receivables 20.1% 36.0% 37.1% 36.0% 46.7%
Inventories 2.3% 1.9% 1.5% 1.2% 0.9%
Other current assets 0.0% 0.0% 0.0% 0.0% 0.0%
Total current assets 36.1% 47.1% 57.1% 64.9% 56.6%
Property, plant & equipment 56.4% 49.3% 41.1% 35.1% 43.4%
Intangible assets — — — 0.0% 0.0%
Other non-current assets — — — 0.0% 0.0%
Total non-current assets 63.9% 52.9% 42.9% 35.1% 43.4%
Total assets 100.0% 100.0% 100.0% 100.0% 100.0%
Liabilities
Trade payables 11.1% 2.1% 1.2% 0.5% 5.7%
Short-term borrowings & current portion of debt 23.4% 38.1% 46.8% 49.9% 30.1%
Total current liabilities 35.3% 46.0% 54.1% 55.5% 39.4%
Long-term debt 3.9% 0.3% 0.0% 0.9% 1.6%
Other non-current liabilities — 0.0% 0.0% 0.0% 0.0%
Total non-current liabilities 3.9% 0.3% 0.0% 0.9% 1.6%
Total liabilities 39.3% 46.3% 54.1% 56.4% 41.1%
Equity
Share capital 22.5% 18.5% 14.6% 11.9% 14.3%
Reserves & retained earnings 38.2% 35.2% 31.3% 31.5% 44.5%
Equity attributable to shareholders 60.7% 53.7% 45.9% 43.5% 58.8%
Non-controlling interest 0.0% 0.0% 0.0% 0.1% 0.1%
Total equity 60.7% 53.7% 45.9% 43.6% 58.9%
Total liabilities & equity 100.0% 100.0% 100.0% 100.0% 100.0%
Key figures
Total debt 27.3% 38.4% 46.8% 50.7% 31.7%
Net debt / (net cash) 23.6% 38.4% 31.9% 28.3% 27.9%
Common equity 60.7% 53.7% 45.9% 43.5% 58.8%

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. * Figures in this period do not fully reconcile in the source data (hover the * for details). Updated 15 Oct 2026.

All reported line items 186
SPWL 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
Cash & Cash Equivalents 0.0 0.0 0.0 0.0 0.0
Cash & Short Term Investments 0.6 0.0 4.0 7.2 1.0
Short-Term Investments - Total 0.6 0.0 4.0 7.2 1.0
Loans & Receivables - Net - Short-Term 4.9 9.3 9.8 12.2 13.1
Loans & Receivables - Total 6.2 10.0 10.3 12.2 13.1
Trade Accounts & Trade Notes Receivable - Net 3.5 7.5 9.8 11.6 12.7
Loans - Short-Term 1.5 1.8 0.0 — —
Income Tax - Receivables - Short-Term — — — 0.3 0.2
Receivables - Other - Total — — — 0.2 0.2
Inventories - Total 0.4 0.4 0.4 0.4 0.2
Prepaid Expenses - Short-Term 0.2 0.1 0.1 0.1 0.1
Investments - Total 0.6 0.0 4.0 7.2 1.0
Assets Held for Sale/Discontinued Operations - Short-Term — 0.0 0.8 1.1 0.9
Other Current Assets - Total 0.0 0.0 0.0 0.0 0.0
Property, Plant & Equipment - Net - Total 9.7 10.3 10.9 11.3 11.8
Property, Plant & Equipment - Gross - Total 18.6 18.6 18.5 18.3 18.1
Property, Plant & Equipment - Accumulated Depreciation & Impairment - Total 8.9 8.2 7.6 7.0 6.3
Other Current Assets 0.0 0.0 0.0 0.0 0.0
Other Assets - Total 0.0 0.0 0.0 0.0 0.0
Intangible Assets - Total - Net — — — 0.0 0.0
Total Current Assets 6.2 9.8 15.1 21.0 15.3
Intangible Assets - excluding Goodwill - Net - Total — — — — —
Intangible Assets - Gross - Total — — — — —
Intangible Assets - excluding Goodwill - Gross — — — — —
Goodwill/Cost in Excess of Assets Purchased - Net — — — 0.0 0.0
Receivables & Loans - Long-Term 1.3 0.7 0.5 — —
Intangible Assets - Accumulated Amortization & Impairment - Total — — — — —
Intangible Assets - excluding Goodwill - Accumulated Amortization & Impairment - Total — — — — —
Loans - Long-Term 1.3 0.7 0.5 — —
Computer Software - Intangible Assets - Net — — — — —
Property, Plant & Equipment - excluding Assets Leased Out - Net - Total 9.7 10.3 10.9 11.3 11.8
Land & Buildings - Net 1.2 1.2 1.3 1.4 1.5
Land/Improvements - Net 0.0 0.0 0.0 0.0 0.0
Buildings - Net 1.1 1.2 1.3 1.3 1.4
Computer Software - Intangible Assets - Gross — — — — —
Plant, Machinery & Equipment - Net 7.9 8.5 9.0 9.4 9.7
Transportation Equipment - Net 0.0 0.0 0.0 0.0 0.0
Computer Software & Equipment - Net 0.0 0.0 0.0 0.0 0.0
Construction in Progress - Net — — — — 0.0
Property, Plant & Equipment - Under Capital Lease - Net — — — — 0.0
Right of Use Tangible Assets - Total - Net 0.1 0.1 0.0 0.0 0.0
Right of Use Tangible Assets - Capital/Finance Lease - Net 0.1 0.1 0.0 0.0 0.0
Property, Plant & Equipment - Other - Net 0.5 0.5 0.5 0.5 0.5
Computer Software - Intangible Assets - Accumulated Amortization & Impairment — — — — —
Property, Plant & Equipment - excluding Assets Leased Out - Gross 18.6 18.6 18.5 18.3 18.1
Land & Buildings - Gross 2.4 2.4 2.4 2.4 2.4
Land/Improvements - Gross 0.0 0.0 0.0 0.0 0.0
Buildings - Gross 2.4 2.4 2.4 2.4 2.4
Plant, Machinery & Equipment - Gross 15.5 15.5 15.5 15.3 15.1
Transportation Equipment - Gross 0.0 0.0 0.0 0.0 0.0
Computer Software & Equipment - Gross 0.0 0.0 0.0 0.0 0.0
Construction in Progress - Gross — — — — 0.0
Property, Plant & Equipment - Under Capital Lease - Gross — — — — 0.0
Right of Use Tangible Assets - Total - Gross 0.1 0.1 0.1 0.1 0.1
Total Assets 17.1 20.9 26.5 32.4 27.1
Right of Use Tangible Assets - Capital/Finance Lease - Gross 0.1 0.1 0.1 0.1 0.1
Property, Plant & Equipment - Other - Gross 0.6 0.5 0.5 0.5 0.5
Debt - Total 4.7 8.0 12.4 16.4 8.6
Short-Term Debt & Current Portion of Long-Term Debt 4.0 8.0 12.4 16.1 8.1
Property, Plant & Equipment - excluding Assets Leased Out - Accumulated Depreciation & Impairment - Total 8.9 8.2 7.6 7.0 6.3
Land & Buildings - Accumulated Depreciation & Impairment 1.2 1.2 1.1 1.0 0.9
Land/Improvements - Accumulated Depreciation & Impairment 0.0 0.0 0.0 0.0 0.0
Buildings - Accumulated Depreciation & Impairment 1.2 1.2 1.1 1.0 0.9
Current Portion of Long-Term Debt including Capitalized Leases 0.3 0.4 0.7 0.6 0.5
Plant, Machinery & Equipment - Accumulated Depreciation & Impairment 7.6 7.0 6.5 5.9 5.4
Transportation Equipment - Accumulated Depreciation & Impairment 0.0 0.0 0.0 0.0 0.0
Capitalized Leases - Current Portion 0.0 0.0 0.0 0.0 0.0
Computer Software & Equipment - Accumulated Depreciation & Impairment 0.0 0.0 0.0 0.0 0.0
Short-Term Debt & Notes Payable 3.7 7.5 11.7 15.5 7.7
Construction in Progress - Accumulated Depreciation & Impairment — — — — 0.0
Debt - Long-Term - Total 0.7 0.1 0.0 0.3 0.4
Property, Plant & Equipment - Under Capital Lease - Accumulated Depreciation & Impairment — — — — 0.0
Right of Use Tangible Assets - Total/Unspecified - Accumulated Depreciation 0.0 0.0 0.1 0.0 0.0
Right of Use Tangible Assets - Capital/Finance Lease - Accumulated Depreciation 0.0 0.0 0.1 0.0 0.0
Property, Plant & Equipment - Other - Accumulated Depreciation & Impairment 0.0 0.0 0.0 0.0 0.0
Current Portion of Long-Term Debt excluding Capitalized Leases 0.3 0.4 0.7 0.6 0.5
Capitalized Lease Obligations - Long-Term 0.0 0.1 0.0 0.0 0.0
Long-Term Debt excluding Capitalized Leases 0.6 0.0 0.0 0.3 0.4
Other Non-Current Assets - Total — — — 0.0 0.0
Debt - Non-Convertible - Long-Term 0.6 0.0 0.0 0.3 0.4
Dividends Payable 0.0 0.0 0.1 0.4 0.0
Payables & Accrued Expenses 2.0 0.6 0.4 0.3 1.8
Trade Account Payables - Total 1.9 0.4 0.3 0.2 1.5
Other Non-Current Assets — — — 0.0 0.0
Accrued Expenses 0.1 0.1 0.1 0.1 0.2
Liabilities Held for Sale/Discontinued Operations - Long-term & Short-Term — — — 0.1 0.0
Total Liabilities 6.7 9.7 14.3 18.3 11.1
Shareholders' Equity - Attributable to Parent Shareholders - Total 10.4 11.2 12.2 14.1 15.9
Total Non-Current Assets 11.0 11.1 11.4 11.3 11.8
Common Equity Attributable to Parent Shareholders 10.4 11.2 12.2 14.1 15.9
Common Equity - Contributed 3.9 3.9 3.9 3.9 3.9
Common Stock - Issued & Paid 3.9 3.9 3.9 3.9 3.9
Equity - Non-Contributed - Reserves & Retained Earnings 6.5 7.4 8.3 10.2 12.1
Retained Earnings - Total 6.5 7.4 8.3 10.2 12.1
Trade Accounts Payable & Accruals - Short-Term 2.0 0.6 0.4 0.3 1.8
Trade Accounts & Trade Notes Payable - Short-Term 1.9 0.4 0.3 0.2 1.5
Accrued Expenses - Short-Term 0.1 0.1 0.1 0.1 0.2
Liabilities Held for Sale/Discontinued Operations - Short-Term — — — 0.1 0.0
Income Taxes - Payable - Short-Term — — — — —
Dividends/Distributions Payable 0.0 0.0 0.1 0.4 0.0
Other Current Liabilities - Total 0.1 1.1 1.4 1.1 0.7
Common Equity - Total 10.4 11.2 12.2 14.1 15.9
Minority Interest - Equity — — — 0.0 0.0
Total Shareholders' Equity - including Minority Interest & Hybrid Debt 10.4 11.2 12.2 14.1 16.0
Total Liabilities & Equity 17.1 20.9 26.5 32.4 27.1
Other Current Liabilities 0.1 1.1 1.4 1.1 0.7
Total Current Liabilities 6.1 9.6 14.3 18.0 10.7
Other Non-Current Liabilities - Total — 0.0 0.0 0.0 0.0
Provisions - Long-Term — — — 0.0 0.0
Post Employment Benefits - Pension & Other - Long-Term — — — 0.0 0.0
Other Non-Current Liabilities — 0.0 0.0 — —
Total Non-Current Liabilities 0.7 0.1 0.0 0.3 0.4
Common Shares - Issued - Total mn 386.5 386.5 386.5 386.5 386.5
Common Shares - Outstanding - Total mn 386.5 386.5 386.5 386.5 386.5
Common Shares - Treasury - Total mn 0.0 0.0 0.0 0.0 0.0
Common Shares - Authorized - Issue Specific mn 405.0 405.0 405.0 405.0 405.0
Common Shares - Issued - Issue Specific mn 386.5 386.5 386.5 386.5 386.5
Common Shares - Outstanding - Issue Specific mn 386.5 386.5 386.5 386.5 386.5
Common Shares - Treasury - Issue Specific mn 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×
Right of Use Tangible Assets - Total - Net - Supplemental 0.1 0.1 0.0 0.0 0.0
Right of Use Tangible Assets - Capital/Finance Lease - Net - Supplemental 0.1 0.1 0.0 0.0 0.0
Right of Use Tangible Assets - Total - Gross - Supplemental 0.1 0.1 0.1 0.1 0.1
Right of Use Tangible Assets - Capital/Finance Lease - Gross - Supplemental 0.1 0.1 0.1 0.1 0.1
Property, Plant & Equipment - excluding Right of Use Tangible Assets & Capital Leases - Net - Supplemental 9.6 10.2 10.9 11.3 11.7
Property, Plant & Equipment - excluding Right of Use Tangible Assets & Capital Leases - Gross - Supplemental 18.4 18.4 18.4 18.2 18.0
Finance and Operating Lease Liabilities - Total - Supplemental 0.1 0.1 0.0 0.0 0.0
Debt including Finance and Operating Lease Liabilities - Supplemental 4.7 8.0 12.4 16.4 8.6
Net Debt 4.1 8.0 8.5 9.2 7.6
Debt - Long-Term - Maturities - Total 1.0 0.4 0.7 0.9 —
Debt - Long-Term - Maturities - within 1 Year 0.3 0.4 0.7 0.6 —
Debt - Long-Term - Maturities - Year 5 0.7 0.0 0.0 0.3 —
Debt - Long-Term - Maturities - Remaining 0.0 0.0 0.0 0.0 —
Capital Lease Maturities - Total 0.1 0.1 0.0 0.1 0.1
Debt - Long-Term - Maturities - 4-5 Years 0.7 0.0 0.0 0.3 —
Capital Lease Maturities - Due within 1 Year 0.0 0.0 0.0 0.0 0.0
Debt - Long-Term - Maturities - Year 6 & Beyond 0.0 0.0 0.0 0.0 —
Capital Lease Maturities - Due in Year 3 0.0 0.0 0.0 0.0 0.0
Capital Lease Maturities - Due in Year 2 0.0 0.0 0.0 0.0 0.0
Capital Lease Maturities - Due in Year 5 0.0 0.0 0.0 0.0 0.0
Capital Lease Maturities - Due in Year 4 0.0 0.0 0.0 0.0 0.0
Capital Lease Maturities - Remaining Maturities — — — 0.0 0.0
Capital Lease Maturities - Due in 4-5 Years 0.0 0.0 0.0 0.0 0.0
Capital Lease Maturities - Due in 2-3 Years 0.0 0.1 0.0 0.0 0.0
Capital Lease Maturities - Due in Year 6 & Beyond — — — 0.0 0.0
Minority Interest - Total — — — 0.0 0.0
Asset Accruals 15.8 20.2 26.0 32.4 27.1
Cash & Cash Equivalents - Total 0.0 0.0 0.0 0.0 0.0
Cash & Short Term Investments - Total 0.6 0.0 4.0 7.2 1.0
Debt - including Preferred Equity & Minority Interest - Total 4.7 8.0 12.4 16.5 8.6
Right of Use Tangible Assets - Total - Accumulated Depreciation - Supplemental 0.0 0.0 0.1 0.0 0.0
Net Book Capital 14.5 19.3 20.6 23.3 23.5
Right of Use Tangible Assets - Capital/Finance Lease - Accumulated Depreciation - Supplemental 0.0 0.0 0.1 0.0 0.0
Net Operating Assets 14.5 19.3 20.6 23.3 23.5
Provisions - Total — — — 0.0 0.0
Shareholders Equity - Common 10.4 11.2 12.2 14.1 15.9
Property, Plant & Equipment - excluding Right of Use Tangible Assets & Capital Leases - Accumulated Depreciation - Supplemental 8.8 8.2 7.6 6.9 6.3
Tangible Total Equity 10.4 11.2 12.2 14.1 16.0
Tangible Book Value 10.4 11.2 12.2 14.1 15.9
Total Book Capital 15.1 19.3 24.6 30.5 24.5
Total Capital 15.1 19.3 24.6 30.5 24.5
Total Long Term Capital 11.1 11.3 12.2 14.4 16.4
Book Value excluding Other Equity 10.4 11.2 12.2 14.1 15.9
Assets Held for Sale/Discontinued Operations - Long-Term & Short-Term — 0.0 0.8 1.1 0.9
Income Taxes - Payable - Long-Term & Short-Term — — — — —
Revolving Line of Credit - Unutilized/Unused Amount — 2.0 2.0 1.9 —
Revolving Line of Credit - Total Principal Amount 2.0 2.0 2.0 3.9 —
Accruals - Short-Term 0.1 0.2 0.8 3.0 4.6
Cash & Short Term Investments - Net of Debt (4.1) (8.0) (8.5) (9.2) (7.6)
Current Portion of Long-Term Debt including Capitalized Leases & Hybrid Financial Instruments 0.3 0.4 0.7 0.6 0.5
Total Fixed Assets - Net 9.7 10.3 10.9 11.3 11.8
Working Capital 0.1 0.2 0.8 3.0 4.6
Interest Bearing Liabilities - Total 4.7 8.0 12.4 16.4 8.6
Working Capital - Non-Cash (0.5) 0.2 (3.2) (4.2) 3.6
Working Capital excluding Other Current Assets & Liabilities 0.2 1.3 2.2 4.1 5.3
Net Debt Including Preferred Equity & Minority Interest 4.1 8.0 8.5 9.2 7.6
Other Short-Term & Long-Term Assets - Total 0.0 0.0 0.0 0.0 0.0
Other Short-Term & Long-Term Liabilities - Total 0.1 1.1 1.4 1.1 0.7
Total Current Assets excluding Total Inventories 5.8 9.4 14.7 20.6 15.1
Tangible Book Value excluding Other Equity 10.4 11.2 12.2 14.1 15.9
Total Debt Excluding Islamic 4.7 8.0 12.4 16.4 8.6
Trade Accounts & Trade Notes Receivable - Net - Total 3.5 7.5 9.8 11.6 12.7
Current Liabilities excluding Current Debt - Total 2.0 1.7 1.9 1.8 2.5
Cash in Hand & with Banks - Total 0.0 0.0 0.0 0.0 0.0
Current Assets excluding Cash & Short Term Investments - Total 5.6 9.8 11.2 13.8 14.3
Cash, Short Term Investments & Accounts Receivable - Total 4.1 7.5 13.8 18.9 13.7

Every line the company reported, in the original order and wording, without regrouping or signs changed.