⚡ Flash Summary

Ghani Global Glass Limited (GGGL) reported a strong financial performance for FY2025, with significant increases in sales and profitability. Net sales increased to PKR 2,932 million, a notable rise from PKR 2,440 million in FY2024. Profit after tax nearly doubled, reaching PKR 301 million compared to PKR 145 million in the previous year. The company is expanding its production capacity and exploring new markets in MENA, Africa, and Latin America. GGGL faces risks including competition from Chinese manufacturers and fluctuations in raw material and energy costs.

📌 Key Takeaways

• ⬆️ Net sales increased to PKR 2,932 million in FY2025 from PKR 2,440 million in FY2024.
• 💰 Gross profit improved to PKR 755 million, up from PKR 550 million.
• 📈 Operating profit jumped to PKR 643 million from PKR 427 million.
• ✅ Profit after tax nearly doubled to PKR 301 million from PKR 145 million.
• 🚀 EPS rose significantly from PKR 0.60 to PKR 1.25.
• 🏭 Non-current assets expanded to PKR 3,121 million due to capital expenditure.
• 💸 Current assets increased to PKR 3,085 million, driven by trade receivables.
• 🌍 Exploring new export markets in MENA, Africa, and Latin America.
• 🔩 Capacity expansion with new vial manufacturing machines from Italy.
• 🧪 Focus on producing neutral borosilicate glass tubes, ampoules, and vials.
• 🛡️ Mitigating risks by adopting cost-effective techniques and securing long-term contracts.
• 🤝 Partnering with leading pharmaceutical companies for ampoule manufacturing.
• 🎯 Targeting self-sufficiency in tubes and establishing market leadership.
• 🏢 Planning a new ampoules manufacturing plant in Saudi Arabia (KSA).

🎯 Investment Thesis

I recommend a BUY rating for Ghani Global Glass Limited. The company’s strong financial performance in FY2025, driven by increased sales and improved profitability, makes it an attractive investment. Expansion plans into new markets and capacity enhancements provide further growth potential. Mitigating risks through cost management and strategic partnerships should support future earnings. The target price will depend on a deeper dive in my model and benchmarking to peers, the time horizon would be medium-term (12-18 months).