Treet Corporation Limited (TREET) reported consolidated earnings per share of PKR 1.36 for FY25, compared to loss per share of PKR 0.49 in FY24. Furthermore, in 1QFY26, the company reported earnings per share of PKR 0.33, compared to earnings per share of PKR 0.23 in the same period last year (SPLY).
The company is strategically shifting toward higher margin categories, with future growth expected to be driven by aggressive expansion in the Modern Trade channel and the female shaving segment. This transition is supported by the launch of two new premium brands Genesis for men and Estella for women positioned to strengthen the company’s presence in both local and international premium markets.
Management noted that the company has moved from a volume driven to a value driven approach, focusing on improving the product mix to enhance margins. The current revenue composition comprises approximately 40% from hygiene razors, 35–40% from Double Edge (carbon and stainless) blades, and less than 10% from shaving foam. Within the Modern Trade channel, 64% of sales come from male customers, while the remaining 36% from female customers.
Exports contribute around 20–25% of total revenue, though this share has remained stagnant. To unlock higher value opportunities, the company is gradually reducing its reliance on the highly competitive, low margin Double Edge blade segment. Management highlighted that the global shaving market is valued at approximately USD 12 billion, providing significant headroom for long-term growth. A key operational constraint remains the limited production capacity for hygiene razors, which is insufficient to fully meet local demand and restricts the company’s ability to pursue international expansion. The Board has approved a phased wise capacity expansion plan that will increase production by more than 50% over the next two years. The project will be executed in two stages initial civil works and installation of one new machine, followed by the commissioning of a second machine.
Important Disclosures
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