NRSL posts solid 24% earnings growth in 9MFY26

April 23, 2026 (MLN): Nimir Resins Limited (PSX: NRSL) has posted an impressive 24% increase in its net profit for the nine months ended March 31, 2026, reaching Rs242.36 million compared to Rs196.07m in the corresponding period last year.

Showing this robust bottom-line growth, the company's basic and diluted earnings per share (EPS) improved to Rs1.71 from Rs1.39 in 9MFY25.

The primary catalyst behind this earnings expansion was a powerful top-line surge. NRSL's net revenue grew by 29% year-on-year, climbing to Rs9.08bn from Rs7.03bn.

The cost of sales kept pace at a near-identical 29% increase, settling at Rs8.07bn, yet the sheer scale of revenue expansion allowed gross profit to register a stronger 31% jump, reaching Rs1.01bn compared to Rs774.51m in the prior year period.

On the operational front, overheads registered notable increases. Distribution costs rose 25% to Rs133.18m, while administrative expenses escalated at a sharper 38% to Rs146.78m.

Other operating expenses edged up a modest 4% to Rs41.93m.

Despite these rising cost pressures, the healthy gross margin expansion more than absorbed the overhead burden, pushing operating profit up by a strong 30% to Rs732.36m from Rs561.23m a year ago.

Below the operating line, NRSL benefited from two meaningful tailwinds.

Finance costs declined significantly by 18% to Rs212.33m, providing meaningful relief on the debt-servicing front, while other income more than doubled surging 109% to Rs30.47m.

Together, these factors delivered a remarkable 84% improvement in profit before income tax and levies, which reached Rs508.57m against Rs276.25m last year.

However, the final leg of the journey was tempered by a substantially heavier tax burden.

Current period taxation spiked 144% to Rs215.23m, and an additional one-off charge of Rs64.20m on account of prior period super tax further compressed the after-tax result.

A partial offset came from a deferred tax credit of Rs13.22m.

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