ICL

Ittehad Chemicals Limited

By PSX Investors Zone · Updated October 24, 2026

Ittehad Chemicals Limited company profile

Ittehad Chemicals Limited (PSX: ICL) is a Pakistani industrial chemicals manufacturer listed on the Pakistan Stock Exchange. Its products include caustic soda, liquid chlorine, hydrochloric acid, sodium hypochlorite, calcium chloride, and surfactants such as LABSA and SLES. The company was incorporated in 1991 and privatised in 1995. It is listed as Shariah-compliant in the PSX-KMI All Share Index recomposition dated May 29, 2026. Investors should also review the Risk Warning Alert currently displayed on its PSX company page, which highlights potential suspension of trading or delisting risk.

Important PSX Risk Warning Alert

The Pakistan Stock Exchange company page currently displays the following warning:

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.

Investors should read this notice carefully and check the latest PSX announcements for any subsequent developments. Shariah-compliant classification does not eliminate listing, trading, financial, or market risks.

Company Overview

Ittehad Chemicals Limited (PSX: ICL) is a Pakistani manufacturer of industrial chemicals. The company was incorporated on September 28, 1991, and was privatised on July 3, 1995. Its registered address listed by PSX is 39 Empress Road, Lahore, Pakistan. The company’s financial year ends on June 30.

According to the company’s official website, its product range includes caustic soda, liquid chlorine, hydrochloric acid, sodium hypochlorite, calcium chloride, and surfactants such as Linear Alkyl Benzene Sulphonic Acid (LABSA) and Sodium Laureth Sulphate (SLES). These products serve industrial and commercial customers across different applications.

Business Model and Industry Exposure

The company manufactures and sells chemicals used in industrial processes. Its performance can be influenced by demand from customer industries, production costs, energy prices, raw-material availability, plant utilisation, and selling-price movements. Changes in operating costs or competitive conditions may affect profit margins even when sales increase.

Investors researching ICL should review annual and quarterly financial statements to understand revenue growth, gross profit margins, finance costs, operating cash flow, capital expenditure, and debt levels. Comparing several reporting periods can help distinguish sustainable operating improvement from temporary changes in costs or selling prices.

Financial Performance

PSX-reported annual figures for the financial year ended June 30, 2026, show sales of approximately Rs34.31 billion, profit after taxation of approximately Rs1.56 billion, and earnings per share (EPS) of Rs15.58. For FY2025, the corresponding figures were approximately Rs27.86 billion in sales, Rs1.30 billion in profit after taxation, and EPS of Rs12.98.

These historical results indicate higher reported sales and profit in FY2026 than in FY2025. They should be assessed alongside margins, cash generation, financing requirements, and the company’s latest disclosures rather than treated as a forecast of future performance.

Source: PSX company profile and financials.

Shariah Compliance Status

In the PSX-KMI All Share Index recomposition notice dated May 29, 2026, Ittehad Chemicals Limited was classified as Compliant. The published screening figures included a debt ratio of 14.23%, non-compliant investment ratio of 0.00%, non-compliant income ratio of 0.36%, and illiquid assets ratio of 69.49%.

Shariah screening reflects the methodology and financial information used for the relevant review period. It may change with future financial disclosures or index recompositions, so investors should verify the latest official screening notice before making an investment decision.

Source: Official PSX-KMI All Share Index recomposition notice.

Key Risks to Consider

  • PSX listing and trading risk: The current PSX page displays a Risk Warning Alert concerning continuous violation and possible suspension or delisting.
  • Input-cost risk: Energy, raw materials, and other production costs can affect margins.
  • Industrial demand risk: Changes in customer demand and economic activity may affect sales volumes.
  • Profitability risk: Higher sales do not automatically translate into higher cash flow or sustainable profits.
  • Shariah status risk: Compliance should be rechecked against the latest official PSX-KMI screening publication.

How Investors Can Research ICL

Before evaluating the stock, review the latest annual report, quarterly financial statements, PSX announcements, cash-flow statement, borrowings, dividend disclosures, and any updates concerning the Risk Warning Alert. Compare the company’s valuation with its own historical performance and relevant listed peers, while considering business risks and investment time horizon.

Useful official resources:

This profile is intended to support company research. Shariah classification is based on the cited PSX-KMI review, while the Risk Warning Alert is a separate and material consideration that should be checked for updates.

#ittehad chemicals#icl#psx#pakistan stock exchange#shariah compliant stocks#industrial chemicals#chemical sector#fundamental analysis#pakistan stock market#psx company profile

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

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