Exide Pakistan profit falls 51%, sets Rs10 dividend

MG News | June 30, 2025 at 10:03 AM GMT+05:00

0:00

June 30, 2025 (MLN): Exide Pakistan Limited (PSX: EXIDE) posted a 51% drop in after-tax profit for the year ended March 31, 2025, with earnings declining to Rs614.37m from Rs1.25bn in the previous year, according to the company’s consolidated financial results issued today.

The company also announced a final cash dividend of Rs10 per share, representing 100% of the face value.

Earnings per share (EPS) dropped significantly to Rs79.08, compared to Rs161.49 last year.

The company’s net sales fell by 6.91% to Rs23.89bn during FY25, down from Rs25.67bn in FY24. This decline, coupled with only a marginal reduction in the cost of sales by 3.8% to Rs20.02bn, squeezed gross profit by over 20% to Rs3.87bn.

Operating profit witnessed a sharp contraction of 41.17%, dropping to Rs1.77bn compared to Rs3.01bn a year earlier. This was largely attributed to a notable increase in selling and distribution expenses, which surged nearly 20% to Rs1.70bn, while administrative expenses also rose by 21.64% to Rs273.25m.

Additionally, other income slumped by 82.28% to Rs3.51m, and expected credit losses and other operating charges declined but remained significant at Rs31.39m and Rs93.67m, respectively.

Finance costs reduced by 14.81% to Rs731.07m, but the overall profit before tax still plunged by 51.67% to Rs1.04bn. After accounting for Rs426.82m in income taxes, the bottom line stood at Rs614.37m, reflecting a sharp year-on-year decrease.

On a positive note, remeasurements of the defined benefit plan added Rs10.11m to other comprehensive income, resulting in a total comprehensive income of Rs620.21m, still down 50.7% year-on-year.

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED MARCH 31, 2025	2025	2024	%Change
Sales - net	23,895,008	25,667,602	(6.91)
Cost of sales	(20,025,649)	(20,815,921)	(3.8)
Gross profit	3,869,359	4,851,681	(20.25)
Selling and distribution expenses	(1,702,306)	(1,418,885)	19.97
Administration and general expenses	(273,250)	(224,633)	21.64
Other income	3,512	19,824	(82.28)
Allowance for expected credit losses	(31,387)	(37,474)	(16.24)
Other operating charges	(93,665)	(177,751)	(47.31)
Operating profit	1,772,263	3,012,762	(41.17)
Finance cost	(731,065)	(858,112)	(14.81)
Profit before levies and income taxes	1,041,198	2,154,650	(51.68)
Levies - Final taxes	-	(173)
Profit before income tax	1,041,198	2,154,477	(51.67)
Income tax - net	(426,824)	(899,901)	(52.57)
Profit after taxation	614,374	1,254,576	(51.03)

Other comprehensive income for the year
Remeasurements of defined benefit plan	10,107	5,964	69.47
Deferred tax on remeasurements of defined benefit plan	(4,274)	(2,498)	71.10
Other comprehensive income	5,833	3,466	68.29

Total comprehensive income for the year	620,207	1,258,042	(50.70)

Earnings per share (EPS)	79.08	161.49

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