IPAK Group sees 66% revenue growth in 9MFY25

April 25, 2025 (MLN): International Packaging Films Limited (PSX: IPAK) Group has recorded 66% increase in its revenues for the nine-month period ended March 31, 2025, demonstrating a strong trajectory of both topline expansion and bottom-line growth amidst a challenging macroeconomic environment.

The Group’s consolidated revenue reached Rs26.04 billion for the nine-month period compared to Rs15.69bn during the same period last year.

Quarter-on-quarter, Q3 revenue stood at Rs9.8bn, reflecting a 13.6% increase over Q2 revenue of Rs8.6bn, and a remarkable 75% growth over Q3 of last year’ Rs5.6bn.

The consolidated EPS for Q3 stood at Rs0.59, up 25.5% from the previous quarter’s PKR 0.47 and 31.1% higher than Q3 of last year’s Rs0.45.

Cumulative EPS for the nine-month period now stands at Rs1.4. 

This growth has been driven by successful expansion into export markets and diversification into new product lines, reinforcing the Group’s market leadership in the flexible packaging films sector.

On a standalone basis, IPAK reported revenue of Rs4.1bn in Q3, marking a solid 51% increase over Q2 revenue of Rs2.7bn.

While this reflects a marginal 3% dip compared to Q3 of the previous year’s Rs4.2bn, it reaffirms the Company’s growth trajectory. 

IPAK recorded rising earnings per share on both consolidated and standalone levels, driven by higher volumes that are translating into improved profitability.

Standalone EPS for Q3 surged to Rs0.36, up significantly from Rs0.06 in Q2, and is broadly in line with Rs0.38 reported in Q3 of the previous year.

This brings the cumulative EPS for the nine-month period to Rs0.44, signaling a strong return to consistent profitability.  

EBITDA stood at Rs1.75bn on a standalone basis and Rs3.57bn on a consolidated basis, further reinforcing the strong cash generation and operational leverage achieved during the period.

IPAK’s export business continues to scale rapidly, with the Group successfully expanding its footprint across the Middle East, Asia, Africa, the US, and Europe.

Foreign exchange revenues have crossed $22 million during the current financial year underscoring the Group’s growing role in supporting national objectives through non-traditional exports.

With the successful commissioning of major group-level expansions and continued stabilization across entities, operational synergies are gradually materializing.

These efficiencies spanning shared procurement, centralized planning, and resource optimization are contributing to a more flexible and sustainable cost structure, and will continue to strengthen going forward.

IPAK remains on an upward trajectory, with growth no longer limited to revenue alone profitability is now gaining momentum, and operational efficiencies are improving steadily.

The Group’s performance continues to outpace broader industry trends despite persistent macroeconomic volatility, and the management remains committed to driving sustainable value creation for shareholders.

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