Ghandhara Industries Limited

Khizra Chaman

Table of Contents

Ghandhara Industries Limited recorded earnings per share of PKR 107.58 in FY25, as compared to earnings per share of PKR 18.34 in FY24.

The company recorded net sales of PKR 37.5 Bn, up 155% from PKR 14.7 Bn in FY24. Along with this, it saw its gross margin expand from 20% in FY24 to 24% in FY25. As a result, gross profit rose 217% from PKR 2.9 Bn in FY24 to PKR 9.1 Bn in FY25.

GHNI posted profit after tax of PKR 4.6 Bn in FY25, compared to PKR 0.8 Bn in FY24.

In 1QFY26, the company saw its gross margin expand to 24% from 23% in SPLY. As a result, profit after tax surged to PKR 1.6 Bn during the period compared to PKR 639 Mn in 1QFY25. 

Management apprised that their market share in the buses and trucks space has climbed from 46% in FY22 to 59% in FY25.

The area wise sales breakup for FY25 is as follows:

Sindh: 43% 

Punjab: 47% 

Balochistan: 4% 

KPK: 3.7% 

AJK: 1% 

Exports: 0.5%

Moving forward, the management was hopeful of the strong sales to continue as large projects in the economy come online and economic momentum persists.

Important Disclosures 

Disclaimer: This report has been prepared by Chase Securities Pakistan (Private) Limited and is provided for information purposes only. Under no circumstances, this is to be used or considered as an offer to sell or solicitation or any offer to buy. While reasonable care has been taken to ensure that the information contained in this report is not untrue or misleading at the time of its publication, Chase Securities makes no representation as to its accuracy or completeness and it should not be relied upon as such. From time to time, Chase Securities and/or any of its officers or directors may, as permitted by applicable laws, have a position, or otherwise be interested in any transaction, in any securities directly or indirectly subject of this report Chase Securities as a firm may have business relationships, including investment banking relationships with the companies referred to in this report This report is provided only for the information of professional advisers who are expected to make their own investment decisions without undue reliance on this report and Chase Securities accepts no responsibility whatsoever for any direct or indirect consequential loss arising from any use of this report or its contents At the same time, it should be noted that investments in capital markets are also subject to market risks This report may not be reproduced, distributed or published by any recipient for any purpose.

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