Hifsa Raja

The gross profit of Rupali Polyester Limited registered an increase of 36% and reached Rs1 billion during the first nine months of the financial year 2021-22 as compared to Rs0.75 billion in the corresponding period of the fiscal year 2020-21, WealthPK reports.

The total revenue generated by the company also showed an increase of 42% and reached Rs7.99 billion on March 31, 2022, as compared to Rs5.60 billion recorded on March 31, 2021.

Its profit-before-tax also increased by 56% and reached Rs0.78 billion in nine months of the fiscal year 2021-22 as compared to Rs0.50 billion in the corresponding period of 2020-21. The net income of the company increased by 174% and reached Rs0.95 billion in the same period as compared to Rs0.34 billion in the first nine months of the fiscal year 2020-21.

On June 30, 2021, individuals owned 10.39% shares of the company while directors, the chief executive officer, their spouses and minor children owned its 3.15% shares. National Bank of Pakistan and Trustee Department owned 4.56% of its shares; and associated companies, undertakings and related parties public sector companies and corporation banks, insurance companies, Modaraba and mutual funds owned 0.84% of the total shares of the company. No foreigner has invested in the company while trusts hold 81.04% of its total shares.

Financial Performance

During the fiscal year 2020-21, the company generated net revenue of Rs7.55 billion, registering an increase of 28% as compared to Rs5.91 billion in 2019-20. The gross profit of the company in 2021 was Rs0.84 billion, up by 114% from Rs0.39 billion in 2020. The operating profit of the company in 2021 was Rs0.60 billion, showing an increase of 208% as compared to Rs0.19 billion in 2020. The profit-after-tax of the company in 2021 was Rs0.45 billion, registering an increase of 1,252%.

The earnings per share (EPS) of the company witnessed a low trend in the beginning during recent years. However, in 2021 it showed remarkable growth and reached Rs13.3 whereas it was as low as Rs1.89 in 2018, Rs1.61 in 2019 and Rs0.98 in 2020.

Rupali Polyester Limited was registered in Pakistan on May 24, 1980, under the Companies Act, 1913 as a ‘public listed company.’ It has been principally engaged in the manufacture and sale of polyester products.

It produces quality products by using the latest technology and the best quality of raw materials. The company has the privilege of being one of the pioneers in Pakistan in the manufacturing of staple fibre of the best quality.

Since its inception, the company has been growing steadily through expansion and diversified operations. The assets of the company have increased to Rs6,502 million from the initial capital outlay of Rs150 million, according to the information gathered by WealthP

Credit : Independent News Pakistan-WealthPk