Ghani Glass Limited (GHGL) | PSX Company Profile

Ghani Glass Limited (PSX: GHGL) is a Pakistani manufacturer of glass containers and float glass, serving pharmaceutical, food and beverage packaging, and industrial markets. Incorporated in 1992, the company operates from Lahore and is listed on the Pakistan Stock Exchange. For FY2026, it reported standalone sales of approximately Rs48.36 billion, profit after tax of Rs7.23 billion and EPS of Rs7.23, compared with Rs45.78 billion in sales and Rs5.90 billion in profit after tax in FY2025. The company was classified as Shariah-compliant in the PSX-KMI All Share Islamic Index recomposition published in May 2026, using December 2025 data. However, the official PSX profile displays a Risk Warning Alert concerning continuous regulatory non-compliance and possible suspension or delisting. Investors should review the latest exchange notices, financial statements, dividend announcements and Shariah screening results before evaluating the shares.

Ghani Glass Limited (PSX: GHGL) is a Pakistani manufacturer of glass containers and float glass. Incorporated in 1992, the company supplies glass products used in pharmaceutical packaging, food and beverage containers, and industrial applications. Its head office is located at 40-L, Model Town Extension, Lahore, Pakistan.

Ghani Glass operates in a manufacturing sector where product quality, furnace efficiency, energy consumption, raw-material costs, capacity utilization and customer demand can significantly affect profitability. Its business performance should be assessed through revenue growth, operating margins, cash generation, capital expenditure and the cost of maintaining production facilities.

Business Overview

Ghani Glass manufactures and sells glass containers and float glass. Container glass supports packaging requirements across pharmaceutical, food and beverage markets, while float glass serves industrial and other glass applications.

The company's official investor information also identifies Ghani Value Glass Limited and RAK Ghani Glass LLC among its associated companies. These relationships should be considered separately when examining ownership, investments and group-level performance; the financial results discussed below are the standalone figures displayed by PSX.

Glass manufacturing is capital-intensive and energy-sensitive. Higher furnace efficiency, production yields and capacity utilization can support margins, while energy-price increases, repairs, raw-material costs, currency movements and competitive pressure can reduce profitability.

Sources: Official PSX company profile and Ghani Glass investor information.

FY2026 Financial Performance

For the financial year ended June 30, 2026, PSX-standardized standalone financial data reports:

Sales: Rs48,355.11 million
Profit after tax: Rs7,226.12 million
Earnings per share (EPS): Rs7.23

For FY2025, the comparable standardized figures were sales of Rs45,783.04 million, profit after tax of Rs5,902.28 million and EPS of Rs5.90.

On these figures, FY2026 sales increased by approximately 5.6%, while profit after tax rose by approximately 22.4%. EPS increased from Rs5.90 to Rs7.23. The reported improvement in profit relative to sales indicates a stronger net margin for the year, although investors should examine the audited accounts to understand the contribution of gross margins, operating expenses, finance costs, taxation and other income.

These figures are standalone results standardized for display on the PSX platform. Refer to the company's audited annual report for the original reported statements and any additional disclosures.

Source: PSX company profile, financials and announcements.

Dividend History and FY2026 Distribution

Company announcements indicate that Ghani Glass paid interim cash dividends totalling 25% during FY2026, comprising interim distributions of 5%, 10% and 10%. The board subsequently recommended a further final cash dividend of 10%, equivalent to Rs1 per share, for the year ended June 30, 2026.

The proposed final dividend would bring the total cash dividend for FY2026 to 35% of face value, equivalent to Rs3.50 per share on a Rs10 face value share. The final dividend should be described as recommended unless approval at the relevant shareholder meeting is confirmed through an official announcement.

Dividend payments are not guaranteed to continue at the same level. Investors should check the company's latest payout announcements for approval, entitlement and payment status.

Sources: Official PSX company profile and announcements and Ghani Glass investor information.

Shariah Compliance Status

Ghani Glass Limited was classified as Compliant in the PSX-KMI All Share Islamic Index recomposition published on May 29, 2026, using financial accounts as of December 31, 2025.

The official recomposition reported the following screening figures:

Debt ratio: 0.11%
Non-compliant investment ratio: 0.00%
Non-compliant income ratio: 0.00%
Illiquid assets ratio: 70.03%

These figures relate to the stated screening period and should not be treated as current ratios indefinitely. Investors should confirm the latest official PSX-KMI All Share Islamic Index list before relying on the classification, as Shariah screening can change when new financial information is reviewed.

Source: Official PSX-KMI All Share Islamic Index recomposition, May 29, 2026.

Shariah screening status and investment risk are separate matters. A compliant classification does not guarantee profits, dividends or protection against a fall in share price.

Important PSX Risk Warning Alert

The official PSX profile displays the following Risk Warning Alert:

“The Company is in continuous violation as specified in Clauses 5.11.1. or 5.11.2. and carry risk of suspension of trading or being delisted from the Exchange and may be subject to such terms and conditions as specified by the Exchange.”

Source: Official PSX profile for GHGL.

This warning is material and should remain prominent in any published company profile. Investors should review the relevant PSX notices and company announcements to identify the outstanding compliance issue and establish whether remedial action has been taken. The alert warns of a risk of suspension or delisting; it does not, by itself, confirm that trading has already been suspended or that the company has been delisted.

Factors Investors Should Monitor

Energy and fuel costs: Glass production can be energy-intensive, making changes in energy prices and furnace efficiency important to margins.
Sales and product mix: Demand across pharmaceutical, food and beverage containers and float glass can vary by customer and industry.
Profit margins: Compare sales growth with gross profit, operating expenses, finance costs and net profit.
Capacity utilization: Production volumes, downtime and furnace performance can influence unit costs.
Capital expenditure: Glass manufacturing facilities require maintenance and periodic investment in furnaces, equipment and production technology.
Cash flow: Accounting profit should be assessed alongside operating cash flow, working capital and investment requirements.
Dividend sustainability: Consider earnings, cash generation and capital expenditure before assuming dividends will continue.
Regulatory compliance: Monitor the PSX Risk Warning Alert and subsequent official notices.
Shariah screening: Recheck the latest official index recomposition instead of relying indefinitely on the May 2026 classification.

Investor Learning Point

When evaluating a manufacturing company, revenue growth alone is not enough. Compare revenue, gross margin, operating profit, net profit and cash flow to understand whether improved sales translate into sustainable earnings. For capital-intensive businesses such as glass manufacturing, energy costs, production efficiency and maintenance investment are particularly important.

Frequently Asked Questions

What is Ghani Glass Limited's PSX symbol?

Its ticker symbol is GHGL.

What does Ghani Glass manufacture?

Its principal business is manufacturing and selling glass containers and float glass.

Was Ghani Glass Shariah-compliant in the latest reviewed index recomposition?

Yes. It was classified as compliant in the PSX-KMI All Share Islamic Index recomposition published May 29, 2026, based on December 2025 accounts. Check the latest official screening publication for any subsequent changes.

What were the company's FY2026 results?

PSX-standardized standalone data reports sales of approximately Rs48.36 billion, profit after tax of Rs7.23 billion and EPS of Rs7.23.

What was the FY2026 dividend?

Interim cash dividends totalling 25% were reported as paid. A further final dividend of 10% (Rs1 per share) was recommended; confirm shareholder approval and payment through official announcements.

Does Ghani Glass have a PSX regulatory warning?

Yes. Its official PSX profile displays a Risk Warning Alert concerning continuous regulatory non-compliance and possible suspension or delisting. Investors should check subsequent official notices for the latest status.

Official Sources

Important: FY2026 financial figures, the dividend recommendation and the Shariah classification refer to specific reporting periods and announcements. Verify the latest official disclosures before publishing updates, particularly the status of the PSX Risk Warning Alert.

This profile is for educational purposes and is not a recommendation to buy or sell any security.

Ghani Glass Limited