Ferozsons Laboratories Limited

Company Overview

Ferozsons Laboratories Limited (PSX: FEROZ) is a Pakistani pharmaceutical company with a history dating back to its incorporation on January 28, 1954. It commenced commercial operations in 1956 and was converted into a public limited company in September 1960.

The company is primarily engaged in importing, manufacturing and selling pharmaceutical products and medical devices. Its registered office is located at 197-A, The Mall, Rawalpindi, while its manufacturing facility is in Nowshera, Khyber Pakhtunkhwa.

Ferozsons operates within Pakistan's pharmaceutical and healthcare market, where business performance can be influenced by medicine demand, product mix, pricing regulations, imported active pharmaceutical ingredients, currency movements, distribution expenses and regulatory requirements.

Official website: https://www.ferozsons-labs.com/

Business Activities and Subsidiaries

Ferozsons' business includes pharmaceutical manufacturing, product distribution and medical devices.

Its group structure includes:

• Ferozsons Laboratories Limited: The parent company, involved in importing, manufacturing and selling pharmaceutical products and medical devices.
• BF Biosciences Limited: A subsidiary engaged in importing, manufacturing and selling pharmaceutical products. Ferozsons held an effective 57.36% interest as of June 30, 2026.
• Farmacia: A retail venture in which Ferozsons held an effective 98% interest as of June 30, 2026.

The group's consolidated results therefore include contributions from subsidiary operations. This distinction matters because consolidated revenue and earnings are not the same as the parent company's standalone figures.

Official investor information: https://www.ferozsons-labs.com/investors

Financial Performance

FY2026 Results

For the financial year ended June 30, 2026, Ferozsons reported the following results in its annual report:

Financial measure	FY2026	FY2025
Standalone revenue	Rs. 15.757bn	Rs. 13.858bn
Standalone gross profit	Rs. 6.626bn	Rs. 5.719bn
Standalone profit after tax	Rs. 650.90m	Rs. 528.24m
Standalone EPS	Rs. 14.97	Rs. 12.15
Consolidated revenue	Rs. 23.958bn	Rs. 18.857bn
Consolidated profit after tax	Rs. 1.228bn	Rs. 922m
Consolidated EPS	Rs. 22.51	Rs. 17.86

Standalone revenue increased by approximately 13.7%, while standalone profit after tax grew by approximately 23.2%. Consolidated revenue increased by approximately 27.0%, and consolidated EPS rose from Rs. 17.86 to Rs. 22.51.

The difference between standalone and consolidated results reflects the contribution of subsidiary operations and consolidation adjustments. Investors should use the appropriate figures when comparing valuation, earnings growth or profitability.

Profitability Considerations

Ferozsons' standalone gross profit increased from approximately Rs. 5.72 billion in FY2025 to Rs. 6.63 billion in FY2026. However, selling and distribution expenses also increased, so investors should evaluate the full income statement rather than relying solely on revenue growth or gross profit.

Important areas to monitor include:

• Sales growth across pharmaceutical products and medical devices.
• Selling, distribution and administrative expenses.
• Finance costs, taxation and working-capital requirements.
• Cash generated from operations compared with reported profits.
• The contribution and performance of subsidiaries.

Official sources:

• PSX company financials: https://dps.psx.com.pk/company/FEROZ
• Annual reports and investor information: https://www.ferozsons-labs.com/investors

Shariah Compliance Status

Ferozsons Laboratories Limited appeared as compliant in the PSX-KMI All Share Islamic Index screening information effective June 5, 2026, based on December 31, 2025 data.

The screening information reported:

Screening measure	Reported ratio
Debt-to-assets ratio	10.55%
Non-compliant investments-to-assets ratio	6.91%
Non-compliant income-to-revenue ratio	0.66%
Illiquid assets-to-total-assets ratio	72.86%

These are historical screening-period figures and should not be described as freshly calculated from the June 2026 annual report. The company's status should be rechecked against the latest official PSX-KMI All Share Islamic Index publication before publication or investment decisions.

PSX announced a change in the interest-bearing debt-to-assets screening threshold from 37% to 33%, scheduled to apply from the November 2026 recomposition based on June 2026 annual or half-yearly accounts. The applicable methodology and current classification should therefore be checked whenever the profile is updated.

Official references:

• PSX Islamic indices: https://www.psx.com.pk/psx/product-and-services/indices
• Official screening and index announcements: https://dps.psx.com.pk/

Dividend and Shareholder Returns

On September 29, 2026, the board recommended a final cash dividend of Rs. 5.50 per share, equivalent to 55% of the Rs. 10 face value, for FY2026. The recommendation was subject to shareholder approval at the Annual General Meeting scheduled for October 28, 2026.

As of October 23, 2026, the scheduled meeting date had not yet occurred. The recommendation should therefore not be described as approved or paid without a subsequent official announcement confirming the outcome.

For dividend analysis, investors should compare the proposed distribution with earnings, cash flow, capital requirements and the company's financial position. Past dividends do not guarantee future payouts.

Official announcements: https://dps.psx.com.pk/company/FEROZ

Important PSX Risk Warning Alert

The official PSX company page displays a Risk Warning Alert stating that Ferozsons Laboratories is in continuous violation of specified clauses, 5.11.1 or 5.11.2, and carries a risk of suspension of trading or delisting from the Exchange.

This is a material regulatory risk and should be prominently disclosed. Investors should consult the latest PSX notice and company announcements to establish the precise nature of the issue, any corrective action and the current status.

Shariah screening eligibility does not remove exchange-listing, regulatory, liquidity or business risks. A historical screening classification and the current listing status should be assessed separately.

Official reference: https://dps.psx.com.pk/company/FEROZ

Key Factors Investors Should Monitor

Revenue and earnings growth: Track standalone and consolidated performance separately to understand the parent company's results and the contribution of subsidiaries.

Product mix: Changes in pharmaceutical products, medical devices and institutional sales may affect margins and revenue quality.

Distribution expenses: Selling and distribution costs are significant and should be assessed relative to revenue growth.

Imported inputs and currency movements: Imported pharmaceutical ingredients and packaging materials can expose the company to exchange-rate changes and international supply conditions.

Regulatory environment: Pharmaceutical manufacturing, product registration, pricing and quality standards can affect costs and operations.

Subsidiary performance: BF Biosciences and Farmacia contribute to consolidated results; investors should examine their individual performance and financing needs.

Cash flow and debt: Review operating cash flow, receivables, inventory, borrowing and finance costs.

Dividend sustainability: Compare the recommended dividend with earnings and available cash rather than assuming it will recur.

Shariah screening: Verify the latest official screening status and methodology.

Regulatory listing status: Review the PSX Risk Warning Alert and any subsequent official updates.

Frequently Asked Questions

What is the PSX symbol for Ferozsons Laboratories Limited?

Its Pakistan Stock Exchange symbol is FEROZ.

What does Ferozsons Laboratories do?

The company imports, manufactures and sells pharmaceutical products and medical devices.

When was Ferozsons established?

The company was incorporated on January 28, 1954, and commenced commercial operations in 1956.

What were Ferozsons' FY2026 results?

Standalone revenue was approximately Rs. 15.76 billion, standalone profit after tax was Rs. 650.90 million and standalone EPS was Rs. 14.97. Consolidated revenue was approximately Rs. 23.96 billion, consolidated profit after tax was Rs. 1.228 billion and consolidated EPS was Rs. 22.51.

Did Ferozsons announce a dividend for FY2026?

The board recommended a final cash dividend of Rs. 5.50 per share, subject to shareholder approval at the AGM scheduled for October 28, 2026. Check the official announcement for confirmation of the meeting outcome and payment status.

Is Ferozsons Shariah-compliant?

It appeared as compliant in the PSX-KMI All Share Islamic Index screening information effective June 5, 2026, based on December 2025 data. Verify the latest official screening result because classifications can change.

Does Ferozsons have a PSX risk warning?

Yes. The PSX company page displays a Risk Warning Alert relating to specified listing-regulation violations and potential trading suspension or delisting. Investors should review the latest official notice before making an investment decision.

Official Sources

• Pakistan Stock Exchange company profile: https://dps.psx.com.pk/company/FEROZ
• Ferozsons Laboratories investor information: https://www.ferozsons-labs.com/investors
• Ferozsons annual reports and filings: https://www.ferozsons-labs.com/investors
• PSX Islamic indices: https://www.psx.com.pk/psx/product-and-services/indices

This profile is intended for company research and investor education. Financial results, dividend recommendations, screening classifications and regulatory alerts are period-specific. Verify current company disclosures, the AGM outcome, PSX notices and the latest screening publications before making investment decisions.