Karachi: Ghani Glass Ltd. (GHGL) and Ghani Value Glass Ltd. (GVGL) held an analyst briefing to discuss the financial results of the first nine months of the fiscal year 2025, with mixed outcomes attributed to prevailing economic conditions.

GHGL reported a 7% decrease in topline revenue, generating PKR 33.5 billion compared to PKR 36.0 billion during the same period last year. The decline is attributed to sluggish economic activity and a slowdown in the construction sector. Nevertheless, the company saw a slight improvement in gross margins, rising to 27.9% from 27.0% in the previous year.

Earnings for GHGL fell to PKR 4.4 billion, or PKR 4.39 per share, marking an 11% decrease year-over-year. This decline was due to the same economic factors and a lower share of profit from associates. The company’s production capacity includes 570 tons per day (TPD) for pharmaceutical and food and beverage segments and 1,000 TPD for float glass manufacturing. GHGL holds substantial market shares in these sectors, with 95% in pharmaceutical, 96% in food and beverage, and 75% in float glass.

The management noted that import tariff reductions have been minimal and do not pose an immediate concern. However, future impacts will depend on the extent of these reductions.

For GVGL, the financial performance showed an improvement with earnings increasing by 20% to PKR 862 million, or PKR 5.75 per share, compared to PKR 717 million, or PKR 4.78 per share, last year. The topline revenue rose by 17%, reaching PKR 4.5 billion from PKR 3.9 billion. Gross margins for GVGL remained stable at 37.1%.

GVGL's management highlighted the commencement of operations for the new printed glass project targeting the appliance segment, which is anticipated to boost revenue and profitability.

The briefing concluded with a note that these companies are not part of AKD Securities Limited's formal coverage.