โก Flash Summary
Ghani Glass Limited’s (GHGL) corporate briefing session for 2025 reveals a company with a strong presence in the glass manufacturing sector, operating since 1992 and listed on the PSX as GHGL since 1994. The company has a substantial shareholders’ equity of Rs. 39 Billion and a production capacity of over 500,000 tpa. Financially, GHGL has demonstrated growth in net revenue from 2021 to 2024, but a slight decrease in 2025. However, profit after tax and dividend per share have declined from 2023 to 2025, raising concerns about profitability despite revenue growth.
Signal: HOLD โธ๏ธ
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM
๐ Key Takeaways
- ๐ญ GHGL was incorporated on December 31, 1992.
- ๐ผ The company commenced business on February 14, 1993.
- ๐ GHGL has been listed on the Pakistan Stock Exchange (PSX: GHGL) since 1994.
- ๐ฐ The paid-up capital of GHGL is PKR 9.9 Billion.
- ๐ฆ Shareholders’ Equity stands at Rs. 39 Billion.
- Production capacity is over 500,000 tpa. ๐
- ๐ GHGL’s Group Portfolio includes Ghani Glass Ltd, Ghani Value Glass Ltd, Ghani Metal & Rubber Industries, and RAK Ghani Glass LLC UAE.
- ๐ฆ The company manufactures and sells glass containers & float glass.
- ๐ฅ GHGL operates 7 glass furnaces producing 1,570 MT/day.
- ๐พ The company produces over 2 Billion bottles per annum.
- โ๏ธ First glass plant to achieve ISO 9001:2000, GMP Standards and 14001 certifications.
- ๐ฌ Introduced Class 100,000 Clean Room Facility with automatic shrink wrap packaging.
- ๐ Net Revenue decreased from 47,790 million in 2024 to 45,783 million in 2025.
- ๐ Profit After Tax decreased from 6,750 million in 2024 to 5,902 million in 2025.
- ๐ฒ Dividend per share decreased from 10% in 2024 to 15% in 2025
๐ฏ Investment Thesis
Given the recent decline in profitability and dividend per share, despite revenue growth, a HOLD recommendation is appropriate for GHGL. While the company has a strong presence in the glass manufacturing sector and maintains a zero-debt balance sheet, the declining profitability trend raises concerns. A more detailed analysis, including a DCF valuation and sector comparison, is needed to determine a specific price target. Investors should monitor the company’s ability to improve profitability and maintain dividend payouts. Time horizon: MEDIUM_TERM.
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Disclaimer: AI-generated analysis. Not financial advice.