PSX Company Profiles

Chemicals

Ghani ChemWorld Limited

Ghani ChemWorld Limited (PSX: GCWL) is a Pakistani chemical manufacturer established to operate the calcium carbide project transferred from Ghani Chemical Industries Limited under a court-sanctioned scheme of arrangement. Incorporated in July 2024 and listed on the Pakistan Stock Exchange on April 24, 2025, the company operates its manufacturing facility at Hattar Special Economic Zone in District Haripur, Khyber Pakhtunkhwa. The company's main business is calcium carbide production, with plans to expand into other chemical products, including precipitated calcium carbonate (PCC). Calcium carbide serves industrial applications, while PCC is used in industries such as paints, paper, and rubber. For FY2026, the audited financial statements reported revenue of Rs 312.36 million, an operating loss of Rs 164.59 million, profit after tax of Rs 67.39 million, and EPS of Rs 0.27. The reported profit was supported by Rs 352.04 million in the share of profit from an associated company, so investors should distinguish accounting earnings from the profitability of the core manufacturing operation. GCWL was classified as Shariah-compliant in the KMI All Share Islamic Index review effective June 5, 2026, with a reported non-compliant income ratio of 0.00% in that review. VIS assigned A- long-term and A2 short-term credit ratings with a Stable outlook in January 2026. **Material operational development:** On October 19, 2026, GCWL disclosed that production had been suspended because disruptions affecting Gulf maritime routes, ports, and export orders prevented it from fulfilling exports. The company said existing inventory was available for domestic sales and that it would notify the PSX when production resumed. Investors should monitor subsequent official announcements before assessing the company's operating outlook.