GHANI GLOBAL HOLDINGS LIMITED 3
1ST QUARTER
September 30, 2023
Ghani Global Group
Faith
Experience
Innovation
Growth
3
Ghani Global Group
ISO 9000 & ISO 14000 CERTIFIED COMPANY
Ghani Global Holdings Limited
Ghani Global Holdings Limited | 01 | 1st Quarter September 30, 2023 |
DIRECTORS' REVIEW
DEAR SHAREHOLDERS,
Assalam-o-Alaikum Wa RehmatUllah Wa Barakatoh
The directors of your Company (Ghani Global Holding Limited) are pleased to present the unaudited condensed interim nancial statements of the Company for the rst quarter ended September 30, 2023, in compliance with the requirements of Companies Act, 2017. The consolidated unaudited condensed interim Financial Statements of the Company for the rst quarter ended September 30, 2023 are also annexed.
FINANCIAL PERFORMANCE
STANDALONE PERFORMANCE
By the grace of Almighty Allah during the period under review, your Company improved/enhanced the sales to Rs. 44 million from Rs. 37 million as compared with the same period of last year. Gross prot of the Company has increased to Rs. 7 million from Rs. 3 million as compared with the same period of last year. Administrative expenses incurred by the Company are normal operating expenses of the Company. Other income are commission on corporate guarantee issued by the Company and prot from banks on saving accounts.
CONSOLIDATED PERFORMANCE
Financial Performance including subsidiaries for the three months ended September 30, 2023 in comparison with the same period of last year is as under:
Particulars
Gross Sales
Net sales
Gross prot
Distribution cost
Administrative expenses
Operating prot
Finance cost
Prot after taxation
Earnings per share
Ghani Chemical Industries Limited (subsidiary company)
Rupees in '000' Except EPS
September 2023 | September 2022 |
2,236,2641,804,546
1,887,0701,524,200
612,333493,888
(49,879)(88,145)
(78,514)(78,512)
515,300377,529
(143,045)(134,830)
259,175174,075
0.43 | 0 . 3 2 |
Ghani Chemical Industries Limited (GCIL) is principally engaged in manufacturing, sale and trading of medical/ industrial gases and chemicals.
Alhumdulillah during the period of three months ended September 30, 2023 under review, sales and end result performance of this subsidiary has been considerably good.
By the grace of Almighty Allah, despite all adverse economic factors during the period under review, this subsidiary Company improved/enhanced the sales to Rs. 1,434 million from Rs. 1,353 million as compared with the same period of last year. Gross prot of this Company has increased to Rs. 441 million from Rs. 383 million as compared with the same period of last year. Distribution cost and administrative cost incurred during period is Rs. 43 million and Rs. 49 million whereas for the same period of last year it was Rs. 82 million and Rs. 54 million, respectively showing decrease in distribution and administrative expenses.
Ghani Global Holdings Limited | 02 | 1st Quarter September 30, 2023 |
Despite increase in interest rate, nance cost with low short term borrowings, reduced to Rs. 103 million from Rs. 104 million as compared with the same period of last year. Accordingly, despite tremendous increase in gross and operating prots, this Company earned Prot after taxation amounting to Rs. 225 million as compared with the same period of last year which was Rs. 147 million. In the result Earnings per share is Rs. 0.46 whereas during the same period of last year, this Company's Earnings per share was Rs. 0.34.
A comparison of the key nancial results of this subsidiary Company for the three months ended September 30, 2023 with the same period of last year is as under:
Particulars | Rupees in '000' Except EPS | |
September 2023 | September 2022 | |
Gross Sales | 1,434,270 | 1,353,088 |
Net sales | 1,212,696 | 1,150,084 |
Gross prot | 441,688 | 383,712 |
Distribution cost | (43,201) | (82,431) |
Administrative expenses | (49,931) | (54,731) |
Operating prot | 430,543 | 314,726 |
Finance cost | (103,580) | (104,425) |
Prot after taxation | 225,987 | 147,459 |
Earnings per share | 0.46 | 0 . 3 4 |
Ghani Global Glass Limited (subsidiary company)
During the period of three months ended September 30, 2023 under review Ghani Global Glass Limited remained in business for manufacturing and sale of glass tubing, ampoules and vials.
By the grace of Almighty Allah, despite all adverse economic factors during the period under review, this subsidiary Company improved/enhanced the sales to Rs. 773 million from Rs. 480 million as compared with the same period last year. Gross prot of this Company has increased to Rs. 163 million from Rs. 106 million as compared with the same period of last year. Distribution cost and administrative cost incurred during period is Rs. 6 million and Rs. 25 million whereas it was Rs. 5 million and Rs. 21 million respectively compared with the same period of last year, showing increase in distribution and administrative expenses.
Due to signicant increase in interest rate, nance cost accordingly increased to Rs. 94 million form Rs. 48 million as compared with the same period of last year. Accordingly, despite tremendous increase in gross and operating prots, this Company earned Prot after taxation amounting to Rs. 25 million as compared with the same period year which was Rs. 24 million. In the result Earnings per share is Rs. 0.11 whereas during the same period of last year, this Company's Earnings per share was Rs. 0.10.
A comparison of the key nancial results of this subsidiary Company for the three months ended September 30, 2023 with the same period of last year is as under:
Rupees in '000' Except EPS | ||
Particulars | September 2022 | |
September 2023 | ||
Gross sales | 773,575 | 480,457 |
Net sales | 653,301 | 408,695 |
Gross prot | 163,337 | 106,265 |
Distribution cost | (6,676) | (5,713) |
Ghani Global Holdings Limited | 03 | 1st Quarter September 30, 2023 |
Administrative expenses | (25,348) | (21,600) |
Operating prot | 128,005 | 77,916 |
Finance cost | (94,555) | (48,742) |
Prot after taxation | 25,284 | 24,080 |
Earnings per share | 0.11 | 0 . 1 0 |
FUTURE OUTLOOK
Ghani Chemical Industries Limited (subsidiary company)
This subsidiary Company is exploring new opportunities for industrial gases in order to improve market penetration and volume.
In terms of manufacturing capacity, GCIL is the market leader, accounting for 35% of total volume in the country. We are the largest producer and supplier of medical and industrial gases in the North West region.
The setup of 5th ASU plant and an import substitute chemical project of this Company in Hattar Special Economic Zone are actively in process. These projects are expected to be in operation during the 1st quarter of 2024 Insha'Allah.
Economic recovery and political stability, as well as the reduction of inationary pressures and the pursuit of sustainable and reasonable growth, would be critical in moving the country forward in the coming year.
Ghani Global Glass Limited (subsidiary company)
This subsidiary Company is going to increase its capacity and within this year will install another four Modern Mechanique Italian ampoules forming lines and will be the part of this project during the second half of the current scal year 2023/2024. Keeping this capacity of ampoules formation will increase by about 3 lacs ampoules per day and the total capacity would be around 1.5 Million ampoules per day.
Apart from the new three line furnace, the management of this Company has decided to do the BMR of existing furnace to enhance capacity of Neutral Borosilicate Glass Tube USP Type I. With the help of this Furnace, we will be in a position to enhance our footing of exports in South African countries and other Latin American and eastern European countries. We are focusing our tube exports to main lane European countries by exploring good distributors of tubing.
With the commissioning of new furnace having additional production line, tube manufacturing capacity will be enhanced by about 50% and this furnace is expected to be ready by the end of current calendar year IN SHAA ALLAH.
Furthermore, addition of European ampoule manufacturing machines is also on the cards. This will increase our capacity of ampules to almost 45M per month. This will be the largest pant in Pakistan having this much capacity.
We are working on the Export of Glass Ampoules and tubular vials in both Clear Glass & Amber Glass in Latin American and South African markets. For this purpose this Company has engaged a professional agent in this market who is actively working with the customers in Latin America and Caribbean Pharma Companies to promote our products and hopefully, we will start getting good business through these export activities in coming years.
Further we are expecting number of foreign delegates to visit our facilities and hope to actively start bilateral business of glass tubes, ampoules and Vials with these companies in future.
Efforts are also under way to engage ourselves in supplying of tubular glass vials for the pharmaceutical industry both in the Pakistan & outside. This requirement can be met through installing new Italian Machines for the manufacturing of vials. This will further boost our revenue and margins as well, Insha'Allah.
Ghani Global Holdings Limited | 04 | 1st Quarter September 30, 2023 |
ELECTION OF DIRECTORS
In compliance with the requirements of Section 159 of the Companies Act, 2017 and provisions of Regulation 7A of the Listed Companies (Code of Corporate Governance) Regulation, 2019 the following persons have been elected as directors of the Company for a period of three years commencing from October 31, 2023, in the Annual General Meeting held on October 28, 2023:
Sr. # | Name of Category | No. of Directors | Names of Directors |
1 | Female Director | 1 | Ms. Saira Farooq |
2 | Independent Directors | 2 | Mr. Mahmood Ahmed |
Ms. Farzin Khan | |||
3 | Other Directors | 4 | Mr. Masroor Ahmad Khan |
Mr. Atique Ahmad Khan | |||
Mr. Umar Ahmad | |||
Mr. Muhammad Ashraf Bawany |
ACKNOWLEDGEMENTS
The board of directors wishes to express their gratitude to valued shareholders, banks/nancial Institutions, customers and suppliers for their continuous support, cooperation and patronage. We also wish to place on record the dedication, hard work and diligence of executives, staff and workers of the company. Needless to mention, all growth in the business of the company is not possible without will and blessings of ALMIGHTY ALLAH.
For and behalf of Board of Directors
Lahore | ATIQUE AHMAD KHAN | HAFIZ FAROOQ AHMAD |
October 30, 2023 | Chief Executive Ofcer | Director |
Ghani Global Holdings Limited | 05 | 1st Quarter September 30, 2023 |
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Ghani Global Holdings Limited | 07 | 1st Quarter September 30, 2023 |
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Particulars | Rupees in '000' Except EPS | |
September 2023 | September 2022 | |
Gross sales | 773,575 | 480,457 |
Net sales | 653,301 | 408,695 |
Gross prot | 163,337 | 106,265 |
Distribution cost | (6,676) | (5,713) |
Administrative expenses | (25,348) | (21,600) |
Operating prot | 128,005 | 77,916 |
Finance cost | (94,555) | (48,742) |
Prot after taxation | 25,284 | 24,080 |
Earnings per share | 0.11 | 0 . 1 0 |
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Ghani Global Holdings Limited | 08 | 1st Quarter September 30, 2023 |
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Particulars | Rupees in '000' Except EPS | |
September 2023 | September 2022 | |
Gross Sales | 1,434,270 | 1,353,088 |
Net sales | 1,212,696 | 1,150,084 |
Gross prot | 441,688 | 383,712 |
Distribution cost | (43,201) | (82,431) |
Administrative expenses | (49,931) | (54,731) |
Operating prot | 430,543 | 314,726 |
Finance cost | (103,580) | (104,425) |
Prot after taxation | 225,987 | 147,459 |
Earnings per share | 0.46 | 0 . 3 4 |
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Ghani Global Holdings Limited | 09 | 1st Quarter September 30, 2023 |
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Ghani Global Holdings Ltd. published this content on 31 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2023 05:36:44 UTC.
