Ghandhara Tyre swings to loss in FY25

MG News | September 03, 2025 at 03:25 PM GMT+05:00

0:00

September 03, 2025 (MLN): Ghandhara Tyre & Rubber Company Limited (PSX: GTYR) has posted a loss of Rs366 million for the year ended June 30, 2025, compared to a profit of Rs229m in the previous year.

Net sales dropped by 13.34% to Rs17.79 billion from Rs20.53bn last year, while the cost of sales decreased by 10.04% to Rs15.52bn.

Consequently, gross profit fell sharply by 30.69%, standing at Rs2.27bn against Rs3.27bn in FY24.

Administrative expenses increased slightly by 5.76% to Rs432.8m, whereas distribution costs declined by 6.97% to Rs752.6m.

Other income recorded a marginal decline of 2.45% to Rs141.6m, while other expenses surged 45.34% to Rs43.5m.

Profit from operations plunged by 45.54% to Rs1.18bn compared to Rs2.17bn last year.

Finance costs eased by 19.6% to Rs1.35bn but continued to weigh heavily on the bottom line.

Before taxation, revenue, and final taxes, the company posted a loss of Rs166.4m against a profit of Rs494.6m in FY24.

Including the share of profit from an associated company, which jumped significantly to Rs16.1m, the company still recorded a pre-tax loss of Rs150.3m compared to a profit of Rs495.7m last year.

Revenue tax expenses rose sharply by 167.66% to Rs195.7m, bringing the total loss before income taxation to Rs345.9m against a profit of Rs419.7m in the previous year.

After a taxation charge of Rs20.1m, the company ended the year with a net loss of Rs366m.

On the other hand, other comprehensive income provided some relief, with staff gratuity re-measurement rising to Rs59.7m, while the surplus on revaluation of leasehold lands added Rs1.28bn.

Total comprehensive income for the year stood at Rs970.4m, a 302% increase from Rs241.4m last year.

Earnings per share (EPS) deteriorated to a loss of Rs3, compared to earnings of Rs1.88 in FY24.

Statement of Profit and Loss for the Year Ended June 30, 2025 (Rs '000')
Particulars	Jun-25	Jun-24	%Change
Sales - net	17,799,710	20,538,570	-13.34%
Cost of sales	(15,527,813)	(17,260,660)	-10.04%
Gross profit	2,271,897	3,277,910	-30.69%
Administrative expenses	(432,849)	(409,268)	5.76%
Distribution cost	(752,601)	(808,987)	-6.97%
Other income	141,605	145,163	-2.45%
Other expenses	(43,501)	(29,931)	45.34%
Profit from operations	1,184,551	2,174,887	-45.54%
Finance cost	(1,351,008)	(1,680,260)	-19.60%
(Loss) / profit before income taxation, revenue and final taxes	(166,457)	494,627
Share of profit of an associated company	16,135	1,047	1441.07%
(Loss) / profit before income taxation	(150,322)	495,674
Final taxes	-	(2,893)
Revenue tax	(195,655)	(73,098)	167.66%
(Loss) / profit before income taxation	(345,977)	419,683
Taxation charge for the year	(20,100)	(190,623)	-89.46%
(Loss) / profit for the year	(366,077)	229,060
Other comprehensive income
Staff retirement gratuity re-measurement - net	59,730	9,384	536.51%
Share of other comprehensive (loss) / income of an associated company	(91)	7,823
Impact of deferred tax	(9,121)	(4,839)	88.49%
Surplus on revaluation of leasehold lands	1,286,000	-
Other comprehensive income for the year	1,336,518	12,368
Total comprehensive income for the year	970,441	241,428	301.96%
(Loss) / earnings per share - basic and diluted	(3)	1.88

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