ISLAMABAD: The net sales of Gatron Industries Limited rose 44.7% to Rs23.95 billion in the fiscal year that ended on June 30, 2022, from Rs16.55 billion in the preceding fiscal year.
The FY22 was a great year for the company as its sales revenues, volumes and profitability increased significantly, reports WealthPK citing the company’s financial data.
The company was established as a public-limited firm in Pakistan in 1980.
The company’s main line of business is the production of polyester filament yarn (PFY) using its own polyester polymer/chips. The company also produces pet preforms.
Due to an increase in revenue, the gross profit of the company increased 70.2% to Rs3.17 billion in FY22 from Rs1.86 billion in the previous year. The profit-before-tax for the year increased by 96.7% to Rs2.55 billion compared to Rs1.30 billion in FY21.
The net profitability increased by 71.5% from Rs1.06 billion in FY21 to Rs1.82 billion in FY22.
The earnings per share (EPS) rose exponentially due to the considerable top-line growth, jumping from Rs27.78 in FY21 to Rs47.63 in FY22.
Performance over the years
In 2019, the company saw an increase in the sales revenue to Rs17.70 billion from Rs13 billion the year earlier.
The company’s gross profit climbed 33% to Rs1.65 billion from the previous year’s Rs1.24 billion.
The profit-after-tax climbed 83% to Rs1.79 billion this year from Rs981 million the previous year, and the EPS increased from Rs25.59 in 2018 to Rs46.78 in 2019.
In 2020, the company’s sales decreased 27% to Rs12.93 billion from Rs17.70 billion in 2019 caused by the Covid-19 outbreak and the subsequent downturn in economic activity.
As a result, the company’s gross profit fell from Rs1.65 billion in 2019 to Rs945 million this year.
The business’s net profit also fell to Rs1.06 billion for the year from Rs1.79 billion in 2019. The EPS declined steeply from Rs46.78 to Rs27.65.
In 2021, the company’s top-line climbed to Rs16.55 billion from Rs12.93 billion in 2020 as a result of an increase in product demand.
Since the Covid-19-induced restrictions were lifted, the economy recovered, enabling the company to almost double its gross profit to Rs1.86 billion from Rs945 million the previous year.
The net profit for 2021 stood unchanged at Rs1 billion, nudging EPS to Rs27.78 from the previous year’s Rs27.65.
