Ghani Global Glass : TRANSMISSION OF HALF YEARLY ACCOUNTS FOR THE HALF YEAR ENDED DECEMBER 31, 2022-GHANI GLOBAL GLASS LIMITED

HALF YEARLY

December 31, 2022

CORPORATECORPORATE INFORMATIONINFORMATION

BOARD OF DIRECTORS
Atique Ahmad Khan	Chairman
Masroor Ahmad Khan	Chief Executive Ofcer
Haz Farooq Ahmad

Ayesha Masroor

Ubaid Waqar

Muhammad Danish Siddque

Yasir Ahmed Awan

AUDIT COMMITTEE

Muhammad Danish Siddique - Chairman Atique Ahmad Khan

Haz Farooq Ahmad

Ayesha Masroor

HUMAN RESOURCE & REMUNERATION AND

COMPENSATION COMMITTEE

Ubaid Waqar - Chairman

Masroor Ahmad Khan

Atique Ahmad Khan

Ayesha Masroor

PRESIDENT

M. Ashraf Bawany

COMPANY SECRETARY

Farzand Ali, FCS

CHIEF FINANCIAL OFFICER

Asim Mahmud, FCA

AUDITORS

CROWE Hussain Chaudhury & Co.

Chartered Accountants

25-E, Main Market Gulberg-II, Lahore.

BANKERS

Al Baraka Bank (Pakistan) Limited

Askari Bank Limited

Allied Bank Limited

Bank Al Falah Limited

Bank Al Habib Limited

Habib Bank Limited

Habib Metropoliton Bank Limited

Meezan Bank Limited

National Bank of Pakistan Limited

Standard Chartered Bank (Pakistan) Limited Soneri Bank Limited

The Bank of Punjab

SHARE REGISTRAR

Digital Custodian Company Limited

4F, Pardesi House, Old Queens Road, Karachi. Tel: [phone]

REGIONAL MARKETING OFFICE

C-7/A, Block F, Gulshan-e-Jamal

Rashid Minhas Road, Karachi.

Ph: [phone]

E-mail: [e-mail]

GLASS PLANT

52-K.M. Lahore Multan Road

Phool Nagar, Distt. Kasur

Ph:[phone]-549, Fax: [phone]

E-mail: [e-mail]

REGISTERED/CORPORATE OFFICE

10-N, Model Town Ext, Lahore 54000, Pakistan UAN: 111 GHANI 1 (442-641)

Fax: [phone]

E-mail: [e-mail]

Website: www.ghaniglobalglass.com www.ghaniglobal.com

Ghani Global Glass Limited

01

Half Yearly December 31, 2022

DIRECTORS' REPORT

Dear Shareholders

Assalam-o-Alaikum Wa RehmatUllah Wa Barakatoh

The Directors of your Company are pleased to present the unaudited/limited reviewed condensed interim nancial statements of the Company for the half year ended December 31, 2022, along with the review report of the Auditors thereon, in compliance with the requirements of the Companies Act, 2017.

FINANCIAL PERFORMANCE:

For the period ended December 2022, the company's sales have increased to Rs. 1,134.903 million up 23.5% from Rs. 918.398 million during the same period of last year. Despite increase in cost of production due to increase in input costs, gross prot was maintained at last year level. Distribution cost and administrative cost incurred during the period were recorded at Rs. 20.421 million and Rs. 52.065 million as against Rs. 19.403 million and Rs. 40.138 million, respectively, over the same period of last year. This represents the company's focus on maintaining cost efciency and limiting the contraction in overall margins. Your company earned operating prot of Rs. 181.675 million down a relatively paltry 6% on a year-on-year basis. However, the hawkish stance by the SBP and sharp upward revisions to interest rates lead nance cost higher to Rs. 108.126 million as compared to Rs. 27.915 million for the same period last year.

As a result of the above, Company's net prot for this half year remained at Rs. 61.531 million versus a prot of Rs. 137.564 million in the corresponding period ending December 2021.

A comparison of the key nancial results of your Company for the half year ended December 31, 2022, with the same period of last year is provided as under:

Particulars	Rupees in '000' Except EPS
December 2022	December 2021
Sales	1,134,903	918,398
Net Sales	971,802	779,049
Gross Prot	257,324	257,971
Distribution cost	20,421	19,404
Administrative expenses	51,883	40,139
Operating prot	181,834	193,003
Financial cost	108,126	27,915
Net prot	61,690	137,564
Earnings per share (EPS) - PKR	0.26	0.57

FUTURE PROSPECTS

Due to current practical difculties faced by the industry for opening of LCs and import of machinery parts, the repair work of existing furnace have been delayed.

To boost the export business, your Company is engaging an agent to market the export of Ampoules and Vials in both clear and amber glass in MENA, Europe, Latin American and to target Caribbean Pharma Companies.

REMUNERATION OF THE CHIEF EXECUTIVE OFFICER

Keeping in view of the current macro-economic condition of the Country, business environment and an austerity measure, the Chief Executive Ofcer of your Company has himself requested the Board to defer the matter of increase in his remuneration till improvement of the market conditions.

Ghani Global Glass Limited

02

Half Yearly December 31, 2022

ACKNOWLEDGEMENTS

Indeed, all growth in the business of the company was not possible without the Will and Blessings of ALMIGHTY ALLAH. 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.

For and behalf of Board of Directors

Lahore:	MASROOR AHMAD KHAN	HAFIZ FAROOQ AHMAD
Dated: February 28, 2023	Chief Executive Ofcer	Director

Ghani Global Glass Limited

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Half Yearly December 31, 2022

Distribution cost	20,421	19,404
Administrative expenses	51,883	40,139
Operating prot	181,834	193,003
Financial cost	108,126	27,915
Net prot	61,690	137,564
Earnings per share (EPS) - PKR	0.26	0.57

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Ghani Global Glass Limited

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Half Yearly December 31, 2022