Qudsia Bano

ICI Pakistan Limited’s revenue from sales increased 33% to Rs24.23 billion in the first quarter of the ongoing financial year 2022-23 (1QFY23) compared to Rs18.18 billion in the corresponding period of the previous fiscal. Similarly, the gross profit of the company increased 22% to Rs4.9 billion in 1QFY23 from Rs4 billion recorded in 1QFY22. The company’s net profit also increased 24% to Rs1.9 billion in 1QFY23 from a profit of Rs1.5 billion over the corresponding period of FY22, shows a WealthPK analysis of the firm’s quarterly performance.

Performance in 2021-22

During the fiscal year 2021-22, the company’s gross sales jumped to Rs86.97 billion from Rs62.61 billion in FY21, posting an increase of 39% year-on-year.   The gross profit for FY22 stood at Rs18.6 billion, up 30% from Rs14.3 billion in FY21. The profit-after-tax for the year also went up by 5% to Rs6.2 billion from Rs5.9 billion in FY21.

Performance in soda ash segment

In FY22, the total sales volume of ICI Pakistan grew by 16% over the same period of last year (SPLY) with a growth of 9% in domestic sales, while exports exhibited a robust growth of 87% year-on-year.

Pharmaceuticals

ICI Pakistan Limited’s pharmaceutical business has continued its growth momentum and delivered a net turnover and operating result for the year 2021-22 at Rs8.88 billion and Rs1.24 billion respectively, higher by 14% and 49% than the SPLY.

Chemicals & Agri Sciences

The chemicals and agri-sciences business achieved a net turnover of Rs10.80 billion for the year 2021-22 with a growth of 24% over the SPLY. The operating result for the year stood at Rs1.46 billion, 55% higher than the SPLY.

Animal Health

The business delivered a net turnover of Rs5.6 billion, 10% higher than the SPLY, whereas the operating profit for the period stood at Rs761 million, translating into a growth of 100% compared to the SPLY.

Earnings Per Share

The EPS of the company has been on an increasing trend since 2019. The EPS jumped from Rs32.8 in 2020 to Rs67.66 in FY22.

Credit : Independent News Pakistan-WealthPk