September 13, 2021 (MLN): Thall Limited (THALL), a diversified conglomerate engaged in the manufacture of Engineering, Building and Packaging products, today has announced its financial statement for the fiscal year 2021. The company has made net profits of Rs5.91billion, showing an extraordinary growth of 83% YoY when compared to net profits of Rs3.23bn reported in the same period last year (SPLY).
This has translated into earnings per share (EPS) of Rs67.06 which significantly increased by 88% YoY against EPS of Rs35.63.
This robust growth was mainly due to a whopping rise in gross profits and share of profits from joint ventures (JV) and associates.
During the period under review, the top line witnessed a 71% YoY increase to Rs29bn owing to an increase in the engineering segment amid overall macroeconomic improvement following the lockdown restrictions in the last fiscal year. Resultantly, the gross profit of the company surged to Rs4.71bn, up by 2.12x YoY, expanding gross margins from 13% to 16%.
On the cost side, the Distribution and Administrative expenditure went up by 59.5% YoY and 8.5% YoY during FY21.
Nonetheless, the company enjoyed profits of Rs 2.54bn from JV and associates, up by 89% YoY during the said period.
Along with the financial results, the company announced a final cash dividend of Rs6 per share i.e.,120%. This is in addition to the interim dividend already paid at Rs4 per share i.e. 80%.
Consolidated Financial Results for the year ended June 30, 2021 ('000 Rupees) | |||
|---|---|---|---|
| Jun-21 | Jun-20 | % Change |
Revenue – net | 29,636,209 | 17,356,402 | 70.75% |
Cost of sales | (24,918,319) | (15,130,515) | 64.69% |
Gross profit | 4,717,890 | 2,225,887 | 111.96% |
Distribution costs | (568,504) | (356,459) | 59.49% |
Administrative expenses | (1,434,736) | (1,322,565) | 8.48% |
Other charges | (415,163) | (206,348) | 101.20% |
Other income | 3,113,125 | 2,811,781 | 10.72% |
Operating profit | 5,412,612 | 3,152,296 | 71.70% |
Finance costs | (173,776) | (172,679) | 0.64% |
Share of profit after tax of associates and joint ventures | 2,540,815 | 1,347,214 | 88.60% |
Profit before taxation | 7,779,651 | 4,326,831 | 79.80% |
Taxation | (1,870,122) | (1,095,094) | 70.77% |
Net profit for the year | 5,909,529 | 3,231,737 | 82.86% |
Basic and diluted earnings per share (Rupees) | 67.06 | 35.63 | 88.21% |
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