Sazgar Engineering reports strong growth with around Rs13bn profit
By MG News | April 21, 2025 at 10:30 AM GMT+05:00
April 21, 2025 (MLN): Sazgar Engineering Works Limited (PSX: SAZEW) posted a stellar net profit of Rs12.85 billion [EPS: Rs212.67] for the nine-month period ended March 31, 2025, reflecting a remarkable 189% surge from Rs4.45bn [EPS: Rs73.59] recorded in the same period last year (SPLY).
The company has declared an interim cash dividend of Rs12 per share, representing 120%, in addition to the interim dividends already paid at Rs20 per share, or 200%.
The company’s revenue surged by 135.5% to Rs81.43bn, compared to Rs34.58bn in SPLY, driven by strong sales performance.
Gross profit rose an impressive 183.9% to Rs24.78bn, while gross margins improved to 30.4% versus 25.2% last year.
Operating profit soared 185.3% to Rs21.78bn, despite a sharp rise in total operating expenses, which grew 133.1% to Rs3.02bn.
Distribution and marketing costs jumped 149.4% to Rs2.57bn, and administrative expenses increased 69.3% to Rs447.4m.
Other operating income rose 87.9% to Rs1.04bn, while other operating expenses surged 204.8% to Rs1.66bn.
Finance cost nearly doubled to Rs201.36m, up 99.2% from Rs101.07m in SPLY, likely due to elevated borrowing costs.
The company paid higher taxes of Rs8.19bn during the period, compared to Rs2.89bn last year, reflecting a 183.3% rise.
| Condensed Interim Statement of Profit or Loss for the Period Ended March 31, 2025 | |||
| Category | Mar-25 | Mar-24 | %Change |
| Sales - net | 81,432,810,035 | 34,584,722,793 | 135.46% |
| Cost of sales | (56,653,628,416) | (25,855,856,179) | 119.11% |
| Gross profit | 24,779,181,619 | 8,728,866,614 | 183.88% |
| Distribution & marketing costs | (2,572,557,572) | (1,031,483,590) | 149.40% |
| Administrative expenses | (447,396,452) | (264,347,094) | 69.25% |
| Total Operating Expenses | (3,019,954,024) | (1,295,830,684) | 133.05% |
| Operating Profit | 21,777,227,595 | 7,633,035,686 | 185.30% |
| Other operating expenses | (1,568,906,086) | (544,224,853) | 204.82% |
| Other operating income | 1,035,906,057 | 351,187,464 | 87.94% |
| Finance cost | (201,362,663) | (101,072,867) | 99.23% |
| Total Other Items | (735,172,692) | (294,110,266) | 149.96% |
| Profit before Levy & Taxation | 21,042,054,903 | 7,338,925,400 | 186.72% |
| Levy / final taxation | (1,242,519) | (494,830) | 151.10% |
| Profit before Taxation | 21,040,812,284 | 7,338,430,590 | 186.72% |
| Taxation | (8,185,943,035) | (2,890,011,556) | 183.25% |
| Net Profit for the period | 12,854,869,349 | 4,448,419,014 | 188.98% |
| Earnings per share - basic and diluted | 212.67 | 73.59 | 188.99% |
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