By Qudsia Bano ISLAMABAD, June 08 (INP-WealthPK): Despite economic downturn caused by the Covid-19 pandemic, Ghani Global Glass Limited, Pakistan’s leading glass tubing company, increased sales, turnover and profitability during the first nine months (July-March) of the fiscal year 2021-22 with its revenues climbing 13% to Rs1.1 billion and profit standing at Rs167 million. During this period, the company's net income climbed by 78% to Rs167.8 million. Gross sales increased by 69% to Rs1.3 billion. Financing costs decreased by 50% to Rs47.8 million (expense), administrative expenditures decreased by 18% to Rs62.8 million (expense), and other income increased from Rs2.9 million to Rs8.6 million (income). The firm’s balance sheet shows that its total assets increased from the first quarter of the ongoing fiscal year to the third-quarter ending March 31. However, a minor change can be seen in the equity. Ghani Global Glass Limited’s Annual Performance Summary 

PATTERN OF SHAREHOLDING – GHANI GLOBAL GLASS LIMITED As of June 30, 2021
Categories of Shareholders	Shares Held	Percentage
Directors, Chief Executive Officers and their spouse(s), and minor children	9,780	0.004
Funds, Provident Funds, Mutual Funds & Pension Funds	2,548,700	1.062
Banks	80,000	0.033
Insurance Companies	1,445,200	0.602
Modarabas Companies	107,000	0.045
ICP	13,500	0.006
Joint Stock Companies	135,565,382	56.486
Individuals	100,230,438	41.763
Total	240,000,000	100.00

Source: Company financial Report As of June 30, 2021, joint stock companies owned 56.486% of the total shares of the company. Individuals owned around 41.763% of the shares. Funds, provident funds, mutual funds and pension funds owned 1.062% of the shares. Insurance companies owned 0.602%, directors, chief executive officers and their spouse(s) and minor children owned 0.004%, and banks 0.033% of the total shares. The company managed to increase sales, turnover and profitability throughout the 2020-21 compared to 2019-20. The company’s revenues for the fiscal year ending June 2021 were Rs1.6 billion, up from Rs1.5 billion the previous year, indicating a 9% increase in sales. Gross profit increased to Rs424 million in 2020-21 from Rs287 million in 2019-20, showing a growth of 48%. Distribution and administrative costs incurred during fiscal 2020-21 stood at Rs35 million and Rs109 million, respectively, compared to Rs38 million and Rs62 million, respectively, the previous year. Administrative costs increased by 79% due to right issue charges.

GHANI GLOBAL GLASS LIMITED – YEARLY COMPARISON
Particulars	June 2021	June 2020	YOY% Growth
	Rupees	Rupees
Gross Sales	1,645,391,486	1,514,533,424	9%
Net sales	1,398,168,264	1,297,084,516	8%
Gross profit	424,218,279	287,286,054	48%
Administrative expenses	(109,458,591)	(61,253,038)	79%
Selling and distribution expenses	(35,270,253)	(38,185,744)	-8%
Operating profit	279,489,435	186,102,272	50%
Finance cost	(110,444,399)	(141,709,969)	-22%
Profit after taxation	133,119,723	40,476,970	229%
Earnings per share	0.85	0.40	113%

The company’s revenue increased from Rs496 million during the year ended on June 30, 2018 to Rs1.3 billion on June 30, 2021, indicating it performed well in terms of sales. The firm also saw its net income increase from Rs40 million in June 2020 to Rs133 million in June 2021. Earnings per share (EPS) of Ghani Global remained negative during the period from 2017 to 2019. However, it kept increasing since 2020, and in 2021 the EPS stood at Rs0.85. Ghani Global Glass Limited was established as a private limited company in Pakistan on October 4, 2007, as Ghani Tableware (Private) Limited under the Companies Ordinance, 1984, which has since been repealed (now the Companies Act, 2017). On July 24, 2008, the company's status was converted to a public unlisted company, and its name was changed to Ghani Tableware Limited. On January 14, 2009, the company's name was changed to Ghani Global Glass Limited. On December 12, 2014, the company was merged into Libas Textiles Limited, a publicly-traded company. As a result, it was listed on the Pakistan Stock Exchange. It began commercial operations on April 1, 2016.