Reported Earnings • Apr 30
Third quarter 2026 earnings released: EPS: PK₨2.29 (vs PK₨1.65 in 3Q 2025) Third quarter 2026 results: EPS: PK₨2.29 (up from PK₨1.65 in 3Q 2025). Revenue: PK₨12.7b (up 10% from 3Q 2025). Net income: PK₨2.29b (up 39% from 3Q 2025). Profit margin: 18% (up from 14% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Apr 21
Ghani Glass Limited to Report Q3, 2026 Results on Apr 28, 2026 Ghani Glass Limited announced that they will report Q3, 2026 results on Apr 28, 2026 Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨37.51, the stock trades at a trailing P/E ratio of 6.7x. Average forward P/E is 14x in the Packaging industry in Pakistan. Total returns to shareholders of 46% over the past three years. Upcoming Dividend • Mar 03
Upcoming dividend of PK₨1.00 per share Eligible shareholders must have bought the stock before 10 March 2026. Payment date: 03 April 2026. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 6.2%. Lower than top quartile of Pakistani dividend payers (7.6%). Higher than average of industry peers (4.6%). Reported Earnings • Feb 26
Second quarter 2026 earnings released: EPS: PK₨1.69 (vs PK₨1.81 in 2Q 2025) Second quarter 2026 results: EPS: PK₨1.69 (down from PK₨1.81 in 2Q 2025). Revenue: PK₨12.3b (down 4.2% from 2Q 2025). Net income: PK₨1.69b (down 6.5% from 2Q 2025). Profit margin: 14% (in line with 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Feb 18
Ghani Glass Limited to Report First Half, 2026 Results on Feb 25, 2026 Ghani Glass Limited announced that they will report first half, 2026 results on Feb 25, 2026 Reported Earnings • Oct 31
First quarter 2026 earnings released: EPS: PK₨0.71 (vs PK₨0.93 in 1Q 2025) First quarter 2026 results: EPS: PK₨0.71 (down from PK₨0.93 in 1Q 2025). Revenue: PK₨9.99b (up 10% from 1Q 2025). Net income: PK₨706.3m (down 24% from 1Q 2025). Profit margin: 7.1% (down from 10% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to PK₨33.37, the stock trades at a trailing P/E ratio of 5.7x. Average forward P/E is 14x in the Packaging industry in Pakistan. Total returns to shareholders of 18% over the past three years. Upcoming Dividend • Oct 16
Upcoming dividend of PK₨1.50 per share Eligible shareholders must have bought the stock before 20 October 2025. Payment date: 18 November 2025. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Pakistani dividend payers (7.3%). Higher than average of industry peers (2.9%). Reported Earnings • Oct 02
Full year 2025 earnings released: EPS: PK₨5.90 (vs PK₨6.75 in FY 2024) Full year 2025 results: EPS: PK₨5.90 (down from PK₨6.75 in FY 2024). Revenue: PK₨45.8b (down 4.2% from FY 2024). Net income: PK₨5.90b (down 13% from FY 2024). Profit margin: 13% (down from 14% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Sep 26
Ghani Glass Limited to Report Fiscal Year 2025 Results on Sep 30, 2025 Ghani Glass Limited announced that they will report fiscal year 2025 results on Sep 30, 2025 Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to PK₨51.11, the stock trades at a trailing P/E ratio of 8.2x. Average forward P/E is 15x in the Packaging industry in Pakistan. Total returns to shareholders of 68% over the past three years. New Risk • Aug 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Pakistani stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (271% cash payout ratio). Share price has been volatile over the past 3 months (7.4% average weekly change). Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨46.82, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 9x in the Packaging industry in Pakistan. Total returns to shareholders of 56% over the past three years. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨43.54, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 9x in the Packaging industry in Pakistan. Total returns to shareholders of 42% over the past three years. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to PK₨33.04, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 7x in the Packaging industry in Pakistan. Negligible returns to shareholders over past three years. New Risk • May 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: PK₨27.0b (US$96.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 7x cash flows per share). Market cap is less than US$100m (PK₨27.0b market cap, or US$96.1m). Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨36.56, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 8x in the Packaging industry in Pakistan. Total returns to shareholders of 18% over the past three years. Reported Earnings • Mar 01
Second quarter 2025 earnings released: EPS: PK₨1.81 (vs PK₨1.82 in 2Q 2024) Second quarter 2025 results: EPS: PK₨1.81 (down from PK₨1.82 in 2Q 2024). Revenue: PK₨12.9b (up 3.0% from 2Q 2024). Net income: PK₨1.81b (flat on 2Q 2024). Profit margin: 14% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨32.12, the stock trades at a trailing P/E ratio of 5.1x. Average trailing P/E is 8x in the Packaging industry in Pakistan. Total returns to shareholders of 5.1% over the past three years. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨29.69, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 7x in the Packaging industry in Pakistan. Total loss to shareholders of 1.6% over the past three years. Reported Earnings • Oct 05
Full year 2024 earnings released: EPS: PK₨6.75 (vs PK₨8.10 in FY 2023) Full year 2024 results: EPS: PK₨6.75 (down from PK₨8.10 in FY 2023). Revenue: PK₨47.8b (up 17% from FY 2023). Net income: PK₨6.75b (down 17% from FY 2023). Profit margin: 14% (down from 20% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Declared Dividend • Oct 04
Dividend of PK₨1.00 announced Shareholders will receive a dividend of PK₨1.00. Ex-date: 18th October 2024 Payment date: 18th November 2024 Dividend yield will be 4.0%, which is lower than the industry average of 7.2%. Sustainability & Growth Dividend is covered by earnings (15% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 3.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 21
Third quarter 2024 earnings released: EPS: PK₨1.71 (vs PK₨2.70 in 3Q 2023) Third quarter 2024 results: EPS: PK₨1.71 (down from PK₨2.70 in 3Q 2023). Revenue: PK₨11.4b (down 10% from 3Q 2023). Net income: PK₨1.71b (down 37% from 3Q 2023). Profit margin: 15% (down from 21% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Dec 22
Ghani Glass Limited Appoints Zaid Ghani as the Chairman Ghani Glass Limited confirmed the appointment of Mr. Zaid Ghani as the Chairman. Mr. Zaid Ghani's appointment as Chairman is expected to provide strong governance and leadership at the board level. His vision and guidance will be vital in shaping the company's future direction and growth trajectory. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨29.96, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 6x in the Packaging industry in Pakistan. Total returns to shareholders of 17% over the past three years. New Risk • Nov 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (PK₨25.8b market cap, or US$89.8m). Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to PK₨26.33, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 5x in the Packaging industry in Pakistan. Total returns to shareholders of 57% over the past three years. Reported Earnings • Mar 05
Second quarter 2023 earnings released: EPS: PK₨2.98 (vs PK₨2.23 in 2Q 2022) Second quarter 2023 results: EPS: PK₨2.98 (up from PK₨2.23 in 2Q 2022). Revenue: PK₨11.4b (up 36% from 2Q 2022). Net income: PK₨2.50b (up 34% from 2Q 2022). Profit margin: 22% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 28
Upcoming dividend of PK₨1.00 per share at 7.0% yield Eligible shareholders must have bought the stock before 07 March 2023. Payment date: 31 March 2023. Payout ratio is a comfortable 13% but the company is paying out more than the cash it is generating. Trailing yield: 7.0%. Lower than top quartile of Pakistani dividend payers (13%). Higher than average of industry peers (2.5%). Upcoming Dividend • Mar 03
Upcoming dividend of PK₨1.00 per share Eligible shareholders must have bought the stock before 10 March 2022. Payment date: 04 April 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 11%. Within top quartile of Pakistani dividend payers (10%). Higher than average of industry peers (2.1%). Upcoming Dividend • Nov 03
Upcoming dividend of PK₨1.50 per share Eligible shareholders must have bought the stock before 10 November 2021. Payment date: 03 December 2021. Trailing yield: 22%. Within top quartile of Pakistani dividend payers (10%). Higher than average of industry peers (13%). Upcoming Dividend • Oct 11
Upcoming dividend of PK₨1.00 per share Eligible shareholders must have bought the stock before 18 October 2021. Payment date: 18 November 2021. Trailing yield: 21%. Within top quartile of Pakistani dividend payers (10%). Higher than average of industry peers (12%). Reported Earnings • Oct 03
Full year 2021 earnings released: EPS PK₨4.16 (vs PK₨2.79 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: PK₨21.5b (up 26% from FY 2020). Net income: PK₨3.22b (up 113% from FY 2020). Profit margin: 15% (up from 8.9% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 28
Third quarter 2021 earnings released: EPS PK₨1.11 (vs PK₨1.05 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: PK₨5.86b (up 16% from 3Q 2020). Net income: PK₨876.1m (up 54% from 3Q 2020). Profit margin: 15% (up from 11% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Apr 27
Ghani Glass Limited Recommends Cash Dividend for the Third Quarter Ended March 31, 2021 Ghani Glass Limited at its board of directors meeting held on April 24, 2021, has recommended cash dividend of 20% for the third quarter ended March 31, 2021 (in additional to first interim cash dividend at the rate of 65% already paid). Is New 90 Day High Low • Mar 09
New 90-day low: PK₨45.47 The company is down 29% from its price of PK₨63.83 on 09 December 2020. The Pakistani market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Packaging industry, which is down 13% over the same period. Executive Departure • Mar 09
Director has left the company On the 5th of March, Muhammad Ayub's tenure as Director ended after less than a year in the role. We don't have any record of a personal shareholding under Muhammad's name. A total of 5 executives have left over the last 12 months. Announcement • Mar 06
Ghani Glass Limited Announces Board Changes Ghani Glass Limited announced that Mr. Muhammad Ayub has resigned from the Board of Directors of the company on March 05, 2021 and Mr. Ajmal Khan (Nominee EOBI) has been appointed in place of Mr. Muhammad Ayub. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment deteriorated over the past week After last week's 21% share price decline to PK₨49.56, the stock is trading at a trailing P/E ratio of 17.1x, down from the previous P/E ratio of 21.8x. This compares to an average P/E of 19x in the Packaging industry in Pakistan. Total returns to shareholders over the past three years are 64%. Is New 90 Day High Low • Feb 03
New 90-day low: PK₨51.61 The company is down 11% from its price of PK₨58.22 on 05 November 2020. The Pakistani market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Packaging industry, which is up 9.0% over the same period. Upcoming Dividend • Jan 27
Upcoming Dividend of PK₨6.50 Per Share Will be paid on the 26th of February to those who are registered shareholders by the 3rd of February. The trailing yield of 10.0% is in the top quartile of Pakistani dividend payers (7.4%), and it is higher than industry peers (5.3%). Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment deteriorated over the past week After last week's 19% share price decline to PK₨59.24, the stock is trading at a trailing P/E ratio of 20.5x, down from the previous P/E ratio of 25.2x. This compares to an average P/E of 25x in the Packaging industry in Pakistan. Total returns to shareholders over the past three years are 29%. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 15% share price gain to PK₨84.01, the stock is trading at a trailing P/E ratio of 29.1x, up from the previous P/E ratio of 25.2x. This compares to an average P/E of 25x in the Packaging industry in Pakistan. Total returns to shareholders over the past three years are 79%. Is New 90 Day High Low • Jan 08
New 90-day high: PK₨76.38 The company is up 46% from its price of PK₨52.44 on 09 October 2020. The Pakistani market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 29% over the same period. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 16% share price gain to PK₨73.20, the stock is trading at a trailing P/E ratio of 25.3x, up from the previous P/E ratio of 21.8x. This compares to an average P/E of 22x in the Packaging industry in Pakistan. Total returns to shareholders over the past three years are 66%. Is New 90 Day High Low • Dec 21
New 90-day high: PK₨65.07 The company is up 22% from its price of PK₨53.28 on 22 September 2020. The Pakistani market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 17% over the same period. Is New 90 Day High Low • Nov 07
New 90-day high: PK₨58.54 The company is up 17% from its price of PK₨50.00 on 07 August 2020. The Pakistani market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Packaging industry, which is up 34% over the same period. Reported Earnings • Nov 03
First quarter 2021 earnings released: EPS PK₨1.17 The company reported a soft first quarter result with weaker earnings and profit margins, although revenues were improved. First quarter 2021 results: Revenue: PK₨4.52b (up 4.8% from 1Q 2020). Net income: PK₨633.0m (down 1.3% from 1Q 2020). Profit margin: 14% (down from 15% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Oct 08
Full year earnings released - EPS PK₨2.79 Over the last 12 months the company has reported total profits of PK₨1.51b, down 52% from the prior year. Total revenue was PK₨17.1b over the last 12 months, down 1.0% from the prior year. Profit margins were 8.9%, which is lower than the 18% margin from last year. The decrease in margin was primarily driven by higher expenses.