In FY24, Ghani Global Holdings Limited (GGL) reported a net profit of PKR 935.12 million (EPS: PKR 1.48), marking a 49% YoY increase from PKR 625.99 million (EPS: PKR 1.03) in the previous year. Net sales grew by 25% YoY to PKR7.92 billion, compared to PKR 6.32 billion in FY23. Gross profit rose 8% YoY to PKR 2.18 billion, while the cost of sales surged 34% YoY to PKR 5.74 billion. The company’s finance cost increased 8% YoY to PKR 557.81 million, compared to PKR 518.83 million in the SPLY. Current assets stood at PKR 356 million (FY23: PKR 221 million), while current liabilities were reported at PKR 127 million (FY23: PKR 16 million) in FY24. GGL holds two key subsidiaries: Ghani Chemical Industries (GCIL) with a 55.96% shareholding, and Ghani Global Glass Limited (GGGL) with a 50.10% share holding. GCIL recorded a net profit of PKR 786 million (EPS: PKR 1.58) in FY24, reflecting a 55% YoY increase from PKR 508 million (EPS: PKR 1.06) in the SPLY. Turnover surged 25% YoY to PKR 6.39 billion, compared to PKR 5.11 billion in FY23. Gross profit rose 10% YoY to PKR 1.61 billion, while operating profit increased 28% YoY to PKR 1.67 billion. GCIL is progressing with the establishment of an import-substitute, limestone-based Calcium Carbide Manufacturing Project. The Hattar Plant is expected to have a production capacity of 275 tons per day. GCIL maintains long-term contracts with major clients such as EPCL, Lotte Pakistan, and ARL. Meanwhile, GGGL reported a net profit of PKR 144.82 million (EPS: PKR 0.60) in FY24, a 42% increase from PKR 101.88 million (EPS: PKR 0.42) in the previous year. Management revealed that GGGL holds a dominant 70% market share in the Chinese glass tube market, with a 15-20% share in Europe. To expand production capacity, GGGL plans to import six state-of-the-art ampoule machines from Europe, which will boost monthly ampoule production from 40 million to 55 million units and increase market share to 25%. To strengthen its export presence, GGGL is in negotiations with consumers in the MENA region, Africa, Latin America, and South Asia. Going forward, management has disclosed that the Calcium Carbide Manufacturing Project will commence operations (CoD) in January 2025, with a production capacity of 76 tons per day. The capex for this project is estimated at PKR 400 million. Furthermore, GGL plans to list Ghani Chemworld Limited, a subsidiary of GCIL, on the Pakistan Stock Exchange
Important Disclosures
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