Qudsia Bano

Ghani Global Glass Limited’s revenue from sales increased 17% to Rs480.5 million in the first quarter of the ongoing financial year 2022-23 (1QFY23) compared to Rs409 million generated over the corresponding period of the previous fiscal. Similarly, the gross profit of the company increased 3% to Rs106.2 million in 1QFY23 from Rs103.3 million recorded in 1QFY22. The company’s net profit, however, decreased 52% to Rs24 million in 1QFY23 from Rs50 million over the corresponding period of FY22, shows a WealthPK analysis of the firm’s quarterly performance.

Performance in 2021-22

During the fiscal year 2021-22, the company’s gross sales edged up to Rs1.8 billion from Rs1.64 billion in FY21, posting an increase of 8% year-on-year.   The gross profit for FY22 stood at Rs419.9 million, up 1% from Rs414 million in FY21. The profit-after-tax for the year jumped 49% to Rs197.9 million from Rs133 million in FY21.

Shareholding Pattern

As of June 30, 2022, directors, the chief executive officer, their spouses and minor children owned 0.005% of the company’s shares. Associated companies held 50.098% of the shares, insurance companies 0.215%, joint stock companies 2.586%, Modarabas and mutual funds 0.041%, individuals 44.715%, and ‘others’ 0.920%.

Earnings Per Share

The EPS of the company was negative during 2019. However, it turned positive and stood at Rs0.33 in 2020 and Rs0.85 in 2021. The EPS then decreased slightly to Rs0.82 in 2022.

About the company

Ghani Global Glass Limited was incorporated in Pakistan as a private limited company on October 04, 2007, as Ghani Tableware (Private) Limited under the now repealed Companies Ordinance, 1984 (now the Companies Act, 2017). The company is principally engaged in the manufacturing and sale of glass tubes, glassware, vials and ampoules, and chemicals.

Credit : Independent News Pakistan-WealthPk