Islamabad November 18 2022: Ghani Glass Limited (GHGL) inform that the commercial production from the new project of Figured Glass has been successfully started, according to company filing to the exchange.
This is first time in the history of Pakistan that on the same furnace, both Figured Glass and Float Glass are produced. It will enhance the revenue of the Company.
Earlier, the company has achieved initial production from the tableware project successfully.
“Production from IS Machines gained attraction of the customers. Good response has been given by the competitive market. We hope the full fledge Press Machines would be received by the company by the end of this calendar year” says Company’s Chairman Zaid Ghani.
During the first quarter ended September 30, 2022, the Net Revenue of the Company increased to Rupees 7.9 billion as compared to Rupees 5.5 billion for the corresponding period of the last year. The Company booked Gross Profit of Rupees 1.9 billion as compared to Rupees 1.4 billion for the same period of the last year. The company earned net profit of Rupees 1.1 billion as compared to Rupees 932 million for the corresponding period of last year. Earning per share also increased to Rupees 1.38 as compared to Rupees 1.11 for the same period of the last year.
Ghani Glass Limited is one of the major Company in Glass Sector contributing towards the economic development of the country. Ghani is also the major provider of glass containers to Health Industry and Food/Beverage Industry of Pakistan. We are providing the best quality glass to the multinational and national pharmaceutical companies. Thus, Ghani has a vital part in Health and Medicine Industry.
Ghani Glass has been using indigenous raw material. Ghani is the major buyer of Silica, feldspar, dolomite and limestone among other materials and strongly supports local manufacturers, miners and suppliers, thus supporting the local economy of our motherland. The said raw material is mostly originated from the remote, backward areas including Qamarmishani, Mansehra (Oghi), Buner & Jehangira. By purchasing local raw material, the local communities of the remote areas are being providing employment. Ghani has been providing for livelihood of local community of said areas. Hundreds of families are dependent on the mining of raw material of Glass. The locals of these areas are solely relying on the income earned from mining of these minerals.
