Ghani Global Glass : Transmission of Quarterly Accounts - GHANI GLOBAL GLASS LIMITED

3rd Quarter

March 31, 2023

CORPORATECORPORATE INFORMATIONINFORMATION

BOARD OF DIRECTORS

Atique Ahmad Khan	Chairman
Masroor Ahmad Khan	Chief Executive Ofcer
Haz Farooq Ahmad
Abdullah Ahmad
Mahmood Ahmed
Farzin Khan
Yasir Ahmed Awan
KEY MANAGEMENT
M. Ashraf Bawany	President
Farzand Ali	Company Secretary
Asim Mahmud	Chief Financial Ofcer
Muhammad Nouman	Head of Internal Audit
Sibtul Hassan Gilani	Head of Procurement & Imports
Muhammad Hanif	Head of Sales & Marketing
Asad Wazir	Head of Plants

AUDITORS

CROWE Hussain Chaudhury & Co.

Chartered Accountants

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

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]

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

Standard Chartered Bank (Pakistan) Limited Summit Bank Limited

Soneri Bank Limited

The Bank of Punjab

United Bank Limited

GLASS PLANTS

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

3rd Quarter March 31, 2023

DIRECTORS' REVIEW

Dear Shareholders,

Assalam-o-Alaikum Wa RehmatUllah Wa Barakatoh

The directors of your Company (Ghani Global Glass Limited) are pleased to present the unaudited condensed interim nancial statements of the Company for the nine months ended March 31, 2023, in compliance with the requirements of Companies Act, 2017.

FINANCIAL PERFORMANCE:

A comparison of the key nancial results (un-audited) of your Company for the nine months as well as the third quarter ended March 31, 2023, with the same periods of last year is presented as under:

	Nine (9) months ended	3rd Quarter ended
Particulars	31 March, 2023	31 March, 2022	31 March, 2023	31 March, 2022
	Rs.	Rs.	Rs.	Rs.
Gross Sales	1,780,057,105	1,304,572,936	645,171,839	386,174,733
Gross Prot	404,827,520	348,319,642	147,479,348	90,348,584
Administrative expenses	84,791,144	62,830,731	32,725,991	22,692,137
Selling and Distribution expenses	34,815,860	28,396,709	13,953,288	8,993,161
Operating prot	281,232,097	250,646,555	99,730,572	57,626,864
Finance cost	174,797,842	47,812,411	66,829,336	19,896,823
Net prot	87,613,924	167,765,837	26,097,819	30,201,491
Earnings per share (EPS) Rs.	0.36	0.70	0.11	0.13

Alhamdulillah Gross sales during the 3rd Quarter ended March 31, 2023, increased by 67% thereby boosting the gross prot by 63%, as compared to the same period of last year. Despite increase in Administrative, Selling & Distribution expenses your Company succeeded to increase Operating prot by 73% as compared to same period of last year. As compared to last year, Finance cost increased by 236% due to drastic increase in KIBOR/Policy rate and cost to hold and stock the imported raw materials. Despite all adverse factors your company succeeded to achieve EPS Rs.0.11 for the 3rd quarter ended March 31, 2023 as compared to Rs.0.13 for the same period of last year.

By the grace of Almighty Allah, on close of the 3rd quarter 2023, your Company achieved the landmark to wipe off accumulated losses and turned into accumulated prot by Rs. 9.323 million.

CHANGES IN BOARD OF DIRECTORS

After conclusion of normal business items of the board meeting held on April 29, 2023, the following directors of your Company resigned due to their personal reasons:

1. Ms. Ayesha Masroor
2. Mr. Ubaid Waqar
3. Mr. Danish Siddique

To ll casual vacancies the board of directors of your Company in above meeting have appointed the following persons as directors of the Company:

1. Mr. Abdullah Ahmad
2. Mr. Mahmood Ahmed
3. Ms. Farzin Khan

Ghani Global Glass Limited

02

3rd Quarter March 31, 2023

FUTURE PROSPECTS

To boost the export business apart from Egypt and Bangladesh, your Company is engaging agent(s) to market Ampoules and Vials (in both clear and amber) in MENA, Europe, Latin America and East Africa countries and to target Caribbean pharma companies in that regions. Further, process of sampling have started with other companies in Europe and Latin America. After completion of normal approval protocol time and achieve qualications for placement of orders, hopefully, your Company will also commence exports to number of Pharma and Cosmetics manufacturers in these countries shortly.

Further keeping in current economic situation in the country, a number of conrmed export orders are pending due to practical difculties being faced by importing companies for opening of LCs in their respective foreign countries.

Repair and maintenance work of our one of the Glass Tubing Furnace is delayed due to current practical difculties being faced by your Company for opening of LCs to import refractory and machinery parts. This delay has badly effected to meet the local as well as export targets of your Company.

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 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 all the executives, staff and workers of the Company.

For and behalf of Board of Directors

Lahore:	MASROOR AHMAD KHAN	HAFIZ FAROOQ AHMAD
Dated: April 29, 2023	Chief Executive Ofcer	Director

Ghani Global Glass Limited

03

3rd Quarter March 31, 2023

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Ghani Global Glass Limited

04

3rd Quarter March 31, 2023