Ghani Global : Transmission of 3rd Quarterly Accounts - GHANI GLOBAL HOLDINGS LIMITED

3rd Quarter

March 31, 2023

3

Ghani Global Group

ISO 9000 & ISO 14000 CERTIFIED COMPANY

Ghani Global Holdings Limited

CORPORATECORPORATE INFORMATIONINFORMATION

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

Umar Ahmad

Muhammad Ashraf Bawany

Mahmood Ahmed

Farzin Khan

KEY MANAGEMENT
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 - Glass
Bilal Butt	Head of Sales & Marketing - Gases & Chemicals
Asad Wazir	Head of Glass Plants
Abid Ameen	Head of Gases Plants

AUDITORS

ShineWing Hameed Chaudhri & Co.

Chartered Accountants

H.M. House, 7-Bank Square, Lahore.

SHARE REGISTRAR

Digital Custodian Company Limited

4-F, Pardesi House, Old Queens Road, Karachi.

Tell: 021-32419770

BANKS

Albaraka Bank Pakistan Limited

Askari Bank Limited

Alah Bank Limited

Faysal Bank Limited

Habib Bank Limited

Habib Metro Bank Limited

The Bank of Punjab

LEGAL ADVISOR

Tariq Mahmood Khan, Advocate

DSK Law Firm, Lahore.

REGIONAL MARKETING OFFICE

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

Rashid Minhas Road, Karachi.

Ph: 021 - 34572150

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.ghaniglobal.com

Ghani Global Holdings 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 Holdings 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

Standalone Performance

A comparison of 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	Rupees in '000' except EPS	Rupees in '000' except EPS
	31 March, 2023	31 March, 2022	31 March, 2023	31 March, 2022
Gross Sales	96,375	64,578	44,762	29,251
Gross Prot	15,624	18,332	10,054	8,238
Administrative expenses	7,854	10,401	179	1,108
Prot before taxation	13,505	13,153	11,883	7,515
Prot after taxation	10,118	9,339	10,175	6,179
Earnings per share Restated (EPS)	0.030	0.026	0.029	0.017
Rs.

In the standalone performance, the Company was able to maintain a steady growth during the 3rd Quar ter ended March 31, 2023, the gross sales of the Company increased by 53% and prot after taxation increased by 65%.

Consolidated Performance

A comparison of key nancial results (un-audited) of your Company including its subsidiaries for 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	Rupees in '000' except EPS	Rupees in '000' except EPS
	31 March, 2023	31 March, 2022	31 March, 2023	31 March, 2022
Gross Sales	5,479,309	4,877,108	1,896,614	1,267,935
Gross Prot	1,577,140	1,718,101	541,618	402,423
Administrative expenses	258,493	198,369	78,763	56,754
Prot from operations	1,239,145	1,327,341	453,018	275,747
Finance cost	385,958	196,819	124,518	80,012
Prot after taxation	523,264	852,875	207,410	153,443
Earnings per share Restated (EPS)	0.86	1.60	0.35	0.29
Rs.

In the consolidated performance along with the subsidiaries, during the 3rd Quarter ended March 31, 2023, the gross sales of your Company increased by more than 49% and prot from operation increased by more than 64%. Despite drastic increase in KIBOR/Policy rate which increased nance cost and other adverse factors, your Company succeeded to achieve EPS of Rs. 0.35 for the 3rd Quarter ended March 31, 2023 as compared to Rs. 0.29 for the same period last year.

Ghani Global Holdings Limited

02

3rd Quarter March 31, 2023

PERFORMANCE OF SUBSIDIARIES:

Ghani Chemical Industries Limited

Ghani Chemical Industries Limited (GCIL) is engaged in manufacturing and sale of medical and industrial gases and import

substitute chemicals.

	Nine (9) months ended	3rd Quarter ended
Particulars	Rupees in '000' except EPS	Rupees in '000' except EPS
	31 March, 2023	31 March, 2022	31 March, 2023	31 March, 2022
Sales	3,706,324	3,587,971	1,222,276	883,615
Gross Prot	1,156,688	1,351,449	384,061	303,758
Distribution cost	151,258	212,016	45,946	76,046
Administrative expenses	165,833	125,133	45,677	28,842
Operating prot	1,019,041	1,069,847	356,147	200,682
Finance cost	285,792	155,307	72,266	59,603
Prot after taxation	425,534	673,714	171,322	114,315
Other comprehensive income:
Surplus arisen upon revaluation of	-	955,997	-	955,977
freehold land
Surplus arisen upon revaluation of	-	373,498	-	373,498
leasehold land
Total comprehensive Income for the	425,534	2,003,209	171,322	1,443,810
period
Earnings per share Restated (EPS)	0.89	1.69	0.36	0.28
Rs.

Ghani Global Glass Limited

Ghani Global Glass Limited (GGGL) is engaged in manufacturing and sale of Glass Tubing, Glass Ampoules and Glass Vials.

	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

CHANGES IN BOARD OF DIRECTORS

After conclusion of ordinary agenda items of the Board meeting held on April 29, 2023, the following directors of the Company

resigned due to their personal reasons:

1. Ms. Rabia Atique Non-Executive

2. Ms. Hafsa Masroor Non-Executive

3. Ch. Umair Waqar

Independent

The Board has lled up the casual vacancies by appointing following new directors in their place, to hold the ofce with effect

from April 29, 2023:-

Ghani Global Holdings Limited

03

3rd Quarter March 31, 2023

1. Mr. Umar Ahmad

Non-Executive

2. Mr. Muhammad Ashraf Bawany Non-Executive

3. Ms. Farzin Khan

Independent

FUTURE PROSPECTS

Ghani Chemical Industries Limited (subsidiary company)

Construction work is actively in process for setup of 275 MTPD capacity ASU plant for manufacturing of medical and industrial gases and import substitute Calcium Carbide manufacturing plant at Hattar Economic Zone. Due to extra-ordinary appreciation in US $ and hike in local prices, cost of these projects have drastically increased. Alhamdulillah sanction letter for 22 MW electricity connection for these projects has received and work is actively in progress for setup of own grid station. Partial shipments of plant and machinery have already arrived and balance shipments are delayed due to prevailing foreign currency reserve conditions in the country. However, we are condent that despite all adverse factors these shipments will arrive during July 2023 and these projects will be on board by October 2023, Insha Allah.

To meet the ongoing increase in demand of liquid gases in the country, the Board of Directors of this company has decided to defer/place on hold the export of one of its existing 110 TPD ASU plant of the Company installed at Phool Nagar, District Kasur, to GCC region.

To step forward the board of directors of this subsidiary has decided to provide the services to Air Ghani LLC and will enter into Erection, Procurement and Commissioning (EPC) Agreement for setup of ASU Plant in Oman.

Ghani Global Glass Limited (subsidiary company)

To boost the export business apart from Egypt and Bangladesh, this 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, this 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 with this company due to practical difculties being faced by importing companies for opening of LCs in their respective foreign countries.

Repair and maintenance work of one of the Glass Tubing Furnace of this subsidiary is delayed due to current practical difculties being faced by this 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 this subsidiary company.

ACKNOWLEDGEMENT

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

Ghani Global Holdings Limited

04

3rd Quarter March 31, 2023