PABC reported earnings per share of PKR 3.85 in 1QCY26 (1QCY25: PKR 3.54). In CY25, EPS stood at PKR 14.44 (CY24: PKR 16.90). In CY25, revenue reached PKR 23.99 billion, a 4% increase from the previous year, representing the highest sales figure in the company’s history.
Local sales volume grew by 12%, while export volumes declined by 10% due to border disruptions. Exports now make up 62% of total revenue, down from 67% in CY24.
A PKR 1.1 billion impairment allowance was recorded for slow moving stock (approximately 80% of value) that reached expiry due to the Afghanistan border closure. Capacity utilization stood at 52% for the year, a decline from CY24 levels primarily due to the ongoing Torkham border disruption that began in October 2025.
The board has approved a proposed project for a can plant in Afghanistan with a rated capacity of 1.3 billion cans (subject to regulatory approvals) and an estimated budget of $110 million.
The timeline remains uncertain pending financial close. Due to regional geopolitical challenges, PABC is targeting alternate markets. Bangladesh is being targeted more aggressively for higher market share. The company is also exploring alternate routes via Iran-Pakistan corridor to reach Central Asian countries.
Moreover, the company is also focusing increasing the domestic “can” share of the beverage market, which currently remains small compared to global averages. Going forward, the management expects domestic demand to grow by 10-15% if political and economic stability persists.
Management stated that Super Tax is currently not applicable due to their operation in a special economic zone. The company’s tax holiday is to expire on 30th September 2027.
Important Disclosures
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