📈 GGL: BUY Signal (8/10) – Presentation of Corporate Briefing Session 2025 – Ghani Global Holdings Limited

📌 Key Takeaways

• 📈 Consolidated net sales increased by 30.6% to PKR 10,337 million in FY25, indicating robust growth.
• 💰 Earnings per share (EPS) jumped from PKR 1.48 to PKR 8.97 due to a one-off gain.
• 📊 Total equity strengthened by 16.8%, reflecting strong profit retention.
• ⬇️ Non-Current Liabilities decreased by 2.5%, indicating a stable long-term funding position.
• ⬆️ Assets grew by 16.3%, demonstrating expansion consistent with business growth.
• 🏭 Ghani Chemical Industries Limited (GCIL) has a joint venture with Mari Energies Limited for LNG and CO2 production.
• 🏭 GCIL’s new 275 TPD ASU plant at Hattar SEZ commenced operations in April 2025, offering tax-exempt profits.
• 🧪 Ghani ChemWorld Limited’s Calcium Carbide project was transferred from GCIL in April 2025.
• 🌍 Ghani Global Glass Limited targets exports of glass tubes to key European countries.
• 🤝 Ghani Global Glass Limited partners with pharmaceutical companies for ampoule manufacturing at client sites.
• 🚢 Ghani Global supplies gas for ship cutting in Gadani Beach, contributing to Pakistan’s steel demand.
• 🌱 Focus on expanding specialty gases portfolio targeting electronics, semiconductors, and R&D sectors.
• ⛽ Expansion into the LPG sector with a 450 MT storage and filling plant.

🎯 Investment Thesis

Based on the information, the company appears to be growing, but the EPS increase should be evaluated with caution. The new ventures (Mari JV, new ASU plant, LPG expansion) are strong positive signals. A HOLD rating is appropriate until further information clarifies the sustainability of the EPS growth and the Calcium Carbide operations performance is more available. A potential BUY signal may be warranted if the company maintains profitability outside the one-off gain and realizes the benefits of ongoing projects.