AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Tariq Glass Industries Limited (TGL) presented its fiscal year 2025 results at a corporate briefing, revealing a 9% year-on-year increase in earnings per share, which rose to Rs27.75. The company also declared a cash dividend of Rs4 per share. This growth was attributed to improved pricing, better margins, and a significant decrease in financial charges.
During the briefing, TGL highlighted a notable one-time gain of Rs915 million from its acquisition of Baluchistan Glass (BGL) last year. Excluding this impact, the recurring profit before tax saw a 37% increase compared to the previous year.
Domestic sales of TGL showed robust growth, with float glass sales increasing by 21% and tableware glass by 7% year-on-year. The company claims a 50% market share in float glass and 65% in tableware.
A key factor in TGL’s margin improvement was cost control, particularly in energy costs. The company expanded its solar power capacity by 1MW, bringing it to 3.5MW, which now meets 22% of its energy needs. The remaining power is sourced from RLNG and the national grid, albeit as a last resort due to supply inconsistency.
The company also achieved a significant reduction in total debt, decreasing from Rs4.8 billion in FY24 to Rs1.1 billion in FY25, aided by the use of internal cash flows and lower interest rates.
Float glass demand remained stable, matching the demand trends in construction materials. TGL’s packed glass production was steady at 183,000 tons, with additional capacity available for future demand increases.
Additionally, TGL’s indirect stake in BGL increased to 47%, following MMM Holding’s conversion of debt to equity, boosting its stake in BGL to 94%.
The briefing underscored TGL’s strategic adaptations in energy sourcing and financial management, which contributed to its strong performance in FY25.