Leiner Pak Gelatine Limited
By PSX Investors Zone · Updated October 27, 2026
Leiner Pak Gelatine Limited (PSX: LPGL) is a Pakistani manufacturer of halal gelatine, di-calcium phosphate, glue, and allied products made from animal bones and hides. Incorporated on 14 February 1983, the company supplies products for industrial, food, pharmaceutical, and animal-nutrition applications. In FY2026, net sales were Rs 1.626 billion, while profit after taxation fell sharply to Rs 293,000 from Rs 15.822 million in FY2025. Earnings per share declined to Rs 0.04, and no dividend was recommended. Higher raw-material, energy, and logistics costs, together with operating cash-flow pressure, are important factors for investors to monitor.
Company Overview
Leiner Pak Gelatine Limited (PSX: LPGL) is a Pakistani manufacturing company specializing in gelatine, di-calcium phosphate, glue, and allied products made from animal bones and hides. The company was incorporated in Pakistan as a public limited company on 14 February 1983 and is listed on the Pakistan Stock Exchange (PSX).
The company's registered office is located at 17-G, Gulberg II, Lahore, while its manufacturing facility is situated at 19th Kilometer, Shahrah-e-Pakistan, Kala Shah Kaku, District Sheikhupura.
Leiner Pak Gelatine operates in the chemicals and industrial-manufacturing sector. Its business performance is influenced by raw-material availability, energy prices, production costs, product demand, export conditions, and working-capital requirements.
Official resources:
What Does Leiner Pak Gelatine Limited Do?
The company's principal business is the manufacture and sale of gelatine, di-calcium phosphate, glue, and related products derived from animal bones and hides.
Its main product categories include:
- Halal gelatine: A protein-based ingredient used in selected food-processing, pharmaceutical, and technical applications.
- Di-calcium phosphate: A mineral-based product used in animal nutrition and feed-related applications.
- Glue and allied products: Products used in selected industrial and technical applications.
Gelatine production requires the processing of collagen-containing animal materials. Raw-material quality, production efficiency, energy consumption, hygiene, traceability, and compliance with relevant standards are important to the business.
The company has stated that its gelatine is licensed and certified by the Pakistan Halal Authority. Investors should consult the company's current product documentation for the latest certifications and specifications.
Company History and Market Presence
Leiner Pak Gelatine has operated in Pakistan since 1983. Its corporate history describes an association with P. Leiner & Sons Great Britain Ltd. and a focus on halal gelatine production.
The company's products serve domestic and international customers. Export activity can create opportunities to reach overseas markets, but it can also expose the business to foreign-exchange fluctuations, shipping costs, overseas competition, payment delays, and changes in international demand.
Investors should review the latest annual report for the actual proportion of export sales, customer concentration, geographical exposure, and other relevant details instead of assuming that international market presence guarantees stable revenue or profitability.
FY2026 Financial Performance
For the financial year ended 30 June 2026, Leiner Pak Gelatine Limited reported almost unchanged net sales but a substantial decline in profitability.
| Financial Metric | FY2026 | FY2025 |
|---|---|---|
| Net sales | Rs 1,626.433 million | Rs 1,628.612 million |
| Gross profit | Rs 194.525 million | Rs 273.317 million |
| Profit after taxation | Rs 0.293 million | Rs 15.822 million |
| Earnings per share (EPS) | Rs 0.04 | Rs 2.11 |
| Total assets | Rs 2,534.089 million | Rs 2,192.505 million |
| Total equity | Rs 1,112.524 million | Rs 1,112.231 million |
| Net cash from operating activities | Negative Rs 47.0 million | Approximately Rs 1.9 million |
| Dividend recommendation | Nil | No payout shown in the cited comparison |
Source: FY2026 results announcement summary and the official PSX company profile.
What Do the Financial Results Mean?
The company's net sales declined by approximately 0.1% year over year, indicating that annual revenue was broadly stable. However, gross profit fell by approximately 28.8%, while profit after taxation declined by approximately 98.1%.
This suggests that the company faced considerable cost and margin pressure during FY2026. Its reported net profit of Rs 293,000 was very small compared with annual sales of more than Rs 1.6 billion.
Operating cash flow was also negative at approximately Rs 47 million. This is important because accounting profit and available cash are not the same: a company may report a small profit while cash is tied up in inventory, receivables, or other working-capital requirements.
Investors should examine the complete financial statements and notes to understand the effects of raw-material costs, energy expenses, logistics, finance costs, working capital, and other operating items.
Latest Results and Upcoming Corporate Updates
As of 27 October 2026, the latest annual financial results available for this profile relate to the year ended 30 June 2026.
The company's annual general meeting was scheduled for 28 October 2026, while a board meeting to consider unaudited results for the quarter ended 30 September 2026 was scheduled for 30 October 2026.
The September-quarter results should not be treated as confirmed until the company publishes its official announcement. Readers should check the PSX LPGL profile for the actual results, any dividend recommendation, and other material disclosures.
The company also issued a notice concerning unusual movement in trading volume in August 2026. Such a notice is a disclosure event; it should not be interpreted on its own as evidence of a particular cause or as a prediction of future share-price movements.
Dividend History and Shareholder Returns
For FY2026, the board did not recommend a cash dividend, bonus shares, or right shares, according to the published annual-results announcement.
This is relevant to investors seeking regular dividend income. With FY2026 earnings falling to Rs 293,000 and operating cash flow turning negative, investors should avoid assuming that a dividend will be declared in a future period.
Any future payout will depend on profitability, cash availability, working-capital needs, financing requirements, board recommendations, and shareholder approval where applicable.
For the latest payout history and entitlement details, refer to the official PSX company profile.
Factors That May Affect LPGL Shares
1. Raw-material availability and cost
The company uses animal-derived raw materials, including bones and hides. Changes in availability, procurement prices, quality, and transport costs can influence manufacturing expenses and profit margins.
2. Energy and utility expenses
Industrial processing requires energy and utilities. Higher electricity, fuel, and other production costs can reduce profitability when selling prices do not increase sufficiently to compensate.
3. Product pricing and competition
The company's earnings depend on its ability to maintain product quality, operate efficiently, manage its product mix, and compete in local and international markets.
4. Export demand and exchange rates
International sales may provide access to additional customers, but exchange-rate movements, shipping expenses, foreign-market conditions, and customer payment terms can affect revenue and cash collections.
5. Working capital and borrowings
Inventory, receivables, supplier payments, and short-term financing are important to manufacturing businesses. The FY2026 results summary showed short-term borrowings increasing to approximately Rs 493.5 million from Rs 415.2 million in FY2025. Investors should assess the company's debt obligations, finance costs, and cash-flow position.
6. Profit margins
The decline in gross profit and net earnings during FY2026 demonstrates why investors should monitor margins alongside revenue. Stable sales do not necessarily translate into stable earnings.
7. Share liquidity and trading activity
The company's shares trade on the PSX under the symbol LPGL. Investors should review current trading volume, free float, bid-ask spreads, and price movements before making decisions, particularly if they intend to trade a large number of shares.
8. Broader market conditions
Interest rates, inflation, energy prices, currency movements, economic activity, and overall PSX sentiment can affect LPGL's market price independently of its company-specific results.
Key Risks for Investors
Before investing in LPGL, investors should consider the following risks:
- Profitability risk: FY2026 profit after taxation fell to Rs 293,000 from Rs 15.822 million.
- Margin pressure: Gross profit declined despite nearly unchanged annual sales.
- Cash-flow risk: Negative operating cash flow may put pressure on day-to-day funding and liquidity.
- Financing risk: Higher short-term borrowings can increase refinancing and repayment requirements.
- Raw-material risk: Changes in the availability and cost of animal-derived inputs may affect production.
- Energy-cost risk: Higher fuel and electricity costs can compress manufacturing margins.
- Export-market risk: Overseas demand, shipping costs, foreign exchange, and customer payment delays may affect results.
- Trading-liquidity risk: Trading conditions and the availability of buyers or sellers can influence the ease of entering or exiting a position.
These are investment considerations, not predictions of future performance. Investors should examine audited accounts, the notes to the financial statements, and current PSX announcements before forming a view.
How to Research Leiner Pak Gelatine on PSX
Investors researching LPGL should review:
- Annual and quarterly financial statements.
- Net sales, gross profit, and operating-profit trends.
- Raw-material, energy, logistics, and finance costs.
- Net profit and earnings per share.
- Cash flow from operations and working-capital movements.
- Short-term borrowings and repayment obligations.
- Export sales and customer concentration, where disclosed.
- Dividend announcements and shareholder entitlements.
- Trading volume, free float, and current valuation ratios.
- The September 2026 quarterly results once officially published.
Start with the official PSX LPGL profile and the company's official website.
Frequently Asked Questions
What is the PSX symbol of Leiner Pak Gelatine Limited?
Leiner Pak Gelatine Limited trades on the Pakistan Stock Exchange under the symbol LPGL.
What does Leiner Pak Gelatine Limited manufacture?
The company manufactures gelatine, di-calcium phosphate, glue, and allied products derived from animal bones and hides.
When was Leiner Pak Gelatine Limited incorporated?
The company was incorporated as a public limited company in Pakistan on 14 February 1983.
Where is Leiner Pak Gelatine Limited located?
Its registered office is at 17-G, Gulberg II, Lahore. Its manufacturing facility is located at Kala Shah Kaku, District Sheikhupura.
Was LPGL profitable in FY2026?
Yes, but its reported profit after taxation fell sharply to Rs 293,000 for FY2026, compared with Rs 15.822 million in FY2025. EPS declined from Rs 2.11 to Rs 0.04.
Did LPGL announce a dividend for FY2026?
No. The board did not recommend a cash dividend, bonus shares, or right shares for FY2026.
When are the next quarterly results expected?
The board meeting to consider results for the quarter ended 30 September 2026 was scheduled for 30 October 2026. Investors should confirm the publication date and figures through the official PSX announcement.
What are the main risks of investing in LPGL?
Key risks include declining profit margins, raw-material and energy costs, negative operating cash flow, short-term borrowing, export-market conditions, and trading liquidity.
Where can investors find official LPGL financial reports?
Visit the official PSX LPGL profile for financial results, corporate announcements, ratios, payouts, and annual reports.
Disclaimer
This profile is for educational and informational purposes only. It is not investment advice or a recommendation to buy or sell LPGL shares. FY2026 figures should be verified against the company's official financial statements. Future earnings, dividends, and share-price performance are not guaranteed. Investors should conduct independent research and assess their own financial objectives and risk tolerance before making investment decisions.
This profile is for educational purposes and is not a recommendation to buy or sell any security.