Hifsa Raja

The revenue of Loads Limited climbed 67% to Rs5.73 billion in the first nine months of the fiscal year 2021-22 (9MFY22) from Rs3.43 billion over the corresponding period of FY21.

The gross profit, showing a 50% growth, stood at Rs617 million in 9MFY22 compared to Rs410 million over the same period of FY21.

The operating profit stood at Rs621 million, 59% higher than Rs390 million in 9MFY21. Similarly, the profit-before-taxation in 9MFY22 stood at Rs355 million, up 65% from Rs215 million in 9MFY21.

The after-tax profit, posting a growth of 64%, stood at Rs252 million in 9MFY22 as against Rs154 million in 9MFY21. The earnings per share (EPS) stood at Rs1.00 in 9MFY22 compared to Rs0.79 over the same period in FY21, showing a growth of 27%, reports WealthPK.

As of June 30, 2021, directors, their spouse(s) and minor children owned 43.84% of total shares of the company. Associated companies, undertakings & related parties owned 13.55% of the shares; banks, development financial institutions, non-banking financial institutions 1.22%; insurance companies 0.02%; Modarabas and mutual funds 0.15%; general public (local) 33.63%; general public (foreign) 0.21% and ‘others’ 7.34%.

Financial Performance

During the fiscal year 2020-21, the company generated sales of Rs4.71 billion against Rs2.77 billion in 2019-20, registering an increase of 70%. The gross profit for FY21 was Rs498 million compared to Rs52 million in FY20, registering an outstanding growth of 855% year-on-year.

The operating profit for FY21 rose 243% to Rs266 million from loss of Rs186 million in FY20. The profit-before-tax for FY21 was Rs90 million compared to loss of Rs717 million in FY20, showing a growth of 113%.

Similarly, the loss-after-tax for FY21 was Rs3.55 million as compared to loss of Rs646 million in FY20, posting a growth of 99%.

Earnings Per Share

The company’s profitability – gross profit and profit before and after tax – remained depressed in 2020, but improved in 2021.

In 2021, the gross profit showed a significant increase as compared to 2020.

Loads Limited was incorporated in Pakistan in 1992 as a limited liability under the Companies Ordinance, 1984, (now Companies Act, 2017). The company is engaged in manufacturing and sale of glass containers and float glass.

Credit: Independent News Pakistan-WealthPk