Fakiha Tariq

Ghani Glass Limited (GHGL) jacked up its revenues by 46%, gross profit by 34% and net profit by 37%, respectively, in the first nine months of the last fiscal year 2022-23 compared to the same period of the earlier fiscal (FY22), reports WealthPK. In 9MFY23, GHGL made sales of Rs32.1 billion and a gross profit of Rs8.86 billion, thus coming up with a gross profit ratio of 28%. The company posted a net profit of Rs 6.47 billion and a net profit ratio of 20.2%. GHGL posted earnings per share of Rs7.71 in 9MFY23.

The sales of the largest glass manufacturer in Pakistan stood at Rs21 billion, gross profit at Rs6.6 billion and net profit at Rs4.7 billion in 9MFY22. Registered on Pakistan Stock Exchange with the symbol ‘GHGL’, Ghani Glass Limited is the largest public-limited firm in the glass and ceramics sector with a market capitalisation of Rs26.8 billion.

Quarterly Review

Review of quarter-based profitability reveals that GHGL enjoyed hefty profits in all three quarters under review. The company showed the highest gross and net level profitability margins in the second quarter (October-December) of FY23. In the first quarter (July-September), GHGL posted gross revenue of Rs7.92 billion and gross profit of Rs1.99 billion. The company posted a net profit of Rs1.15 billion. Therefore, the gross profit and net profit ratios reached 25% and 14.6%, respectively. In 1QFY23, the company reported earnings per share of Rs1.38.

In the second quarter, the glass maker posted gross revenue of Rs11.4 billion and gross profit of Rs3.34 billion. The company posted a net profit of Rs2.49 billion. Thus, the gross profit and net profit ratios were reported to be 29% and 21.8%, respectively. In 2QFY23, the company reported earnings per share of Rs2.98. In the third quarter (January-March) of FY23, the company posted gross revenues of Rs12.7 billion – the highest in any quarter in FY23 – and gross profit of Rs3.5 billion. The company posted a net profit of Rs2.69 billion in this quarter. Therefore, the gross and net profit margins were calculated at 28% and 21.2%, respectively. In 3QFY23, GHGL posted earnings per share of Rs3.22.

Credit: INP-WealthPk