Ghani Value Glass reported net sales of PKR 1,700 million in 3QFY25, up 29% year-on-year, while cumulative 9MFY25 sales stood at PKR 4,520 million, reflecting a 17% increase compared to the same period last year. Cost of sales rose by 24% year-on-year to PKR 1,092 million in 3QFY25.
As a result, gross profit improved by 39% to PKR 608 million, with gross margin rising to 36% from 33% in the same quarter last year. For 9MFY25, gross profit stood at PKR 1,675 million, up 24% year-on-year. Earnings per share rose to PKR 2.21 in 3QFY25 from PKR 1.59 in 3QFY24. The company declared a dividend of PKR 1.00 per share during the quarter, bringing the cumulative payout to PKR 2.00 per share in 9MFY25. GVGL mainly relies on WAPDA for power, as it is cheaper than captive power. Hence, there is no impact of gas price increases on Ghani Value Glass.
The company has developed many local vendors for other raw materials but still imports some, such as colors and silver. Ghani Value Glass was the first in Pakistan to introduce proper mirror manufacturing, and pioneered aluminum glass (a cost-effective alternative to silver mirror with similar quality).
In appliances division, a digital printer was installed 2-3 years ago, which helped gain market share in the appliances segment. Screen printing capabilities were installed two months ago, expected to gain the market next year by producing front doors for appliances like refrigerators. Going forward, the new project regarding printing glass for appliances has become operational, expected to have a positive impact in boosting revenue and overall profitability of the company.
Important Disclosures
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