نمر ریزنز کا مالی سال 2026ء میں منافع 102٪ اضافے سے 503 ملین روپے (ای پی ایس 3.56 روپے)؛ 1.50 روپے ڈیویڈنڈ کا اعلان۔ Nimir Resins FY26 PAT doubles to PKR 503mn (EPS: PKR 3.56, +102% YoY); recommends PKR 1.50/share final dividend.
ایگزیکٹو سمری
نمر ریزنز لمیٹڈ (NRSL) نے مالی سال 2026ء کے دوران بہترین مالیاتی نتائج پیش کیے ہیں۔ کمپنی کا خالص منافع بعد از ٹیکس 101.8٪ اضافے کے ساتھ 503.3 ملین روپے تک پہنچ گیا، جس سے فی شیئر آمدن (EPS) گزشتہ سال کے 1.77 روپے سے بڑھ کر 3.56 روپے ہو گئی۔ کمپنی کی خالص سیلز 32.2٪ اضافے سے 12.24 ارب روپے رہیں۔ بورڈ آف ڈائریکٹرز نے 1.50 روپے فی شیئر (15٪) نقد ڈیویڈنڈ کی سفارش کی ہے۔
مالیاتی نتائج اور سالانہ موازنہ
| مالیاتی مد (ملین روپے) | مالی سال 2026ء | مالی سال 2025ء | تبدیلی |
|---|---|---|---|
| خالص درآمدات (Net Sales) | 12,238.31 | 9,258.81 | +32.18% |
| سیلز کی لاگت | (10,507.88) | (8,323.57) | +26.24% |
| گروس منافع | 1,730.42 | 935.24 | +85.02% |
| آپریٹنگ منافع | 1,352.92 | 663.68 | +103.85% |
| فنانس کاسٹ | (295.47) | (324.46) | -8.93% |
| قبل از ٹیکس منافع (PBT) | 951.99 | 291.58 | +226.49% |
| ٹیکس اخراجات (Super Tax سمیت) | (448.66) | (42.11) | +965.55% |
| خالص منافع (PAT) | 503.33 | 249.47 | +101.76% |
| آمدن فی شیئر (EPS) | 3.56 روپے | 1.77 روپے | +101.13% |
نمر ریزنز نے FY26 میں ریکارڈ 12.24 ارب روپے سیلز اور 3.56 روپے فی شیئر آمدن حاصل کی ہے۔ 1.50 روپے فی شیئر کا ڈیویڈنڈ اور مضبوط آپریشنل کارکردگی شیئر ہولڈرز کے لیے مثبت اشارہ ہے۔
Executive Summary
Nimir Resins Limited (NRSL) delivered record-breaking financial results for FY26. Net profit after tax more than doubled (+101.8% YoY) to PKR 503.3 million, translating into an EPS of PKR 3.56 compared to PKR 1.77 in FY25. Revenue expanded by 32.2% YoY to reach PKR 12.24 billion, driven by steady demand across core coating resins, emulsions, and specialty chemicals. The Board of Directors recommended a final cash dividend of PKR 1.50 per share (15%).
Financial Summary & YoY Comparison
| Financial Metric (PKR Million) | FY26 | FY25 | YoY Change |
|---|---|---|---|
| Gross Revenue | 14,490.69 | 10,970.69 | +32.09% |
| Net Revenue | 12,238.31 | 9,258.81 | +32.18% |
| Cost of Revenue | (10,507.88) | (8,323.57) | +26.24% |
| Gross Profit | 1,730.42 | 935.24 | +85.02% |
| Gross Margin (%) | 14.14% | 10.10% | +4.04 bps |
| Distribution Cost | (192.76) | (139.41) | +38.27% |
| Administrative Expenses | (184.74) | (132.15) | +39.80% |
| Operating Profit | 1,352.92 | 663.68 | +103.85% |
| Finance Cost | (295.47) | (324.46) | -8.93% |
| Profit Before Tax (PBT) | 951.99 | 291.58 | +226.49% |
| Taxation (inc. Super Tax) | (448.66) | (42.11) | +965.55% |
| Profit After Tax (PAT) | 503.33 | 249.47 | +101.76% |
| Net Profit Margin (%) | 4.11% | 2.69% | +1.42 bps |
| Earnings Per Share (PKR) | 3.56 | 1.77 | +101.13% |
6-Year Performance Trend
Key Segment Insights & Operational Drivers
- Segment Performance: Coatings, Emulsion & Blending revenue rose to PKR 7.62 billion (FY25: PKR 5.25 billion), while Textile, Paper & Others generated PKR 4.62 billion (FY25: PKR 4.01 billion).
- Gross Margin Expansion: Gross margins improved from 10.10% to 14.14% due to portfolio optimization, cost discipline, and operational efficiencies despite Middle East shipping disruptions and elevated ocean freight costs.
- Finance Cost Reduction: Finance costs decreased by 8.9% YoY to PKR 295.5 million (FY25: PKR 324.5 million), supported by easing interest rates and working capital management.
- Heavy Tax Impact: Effective tax rate increased sharply to 47.1% due to the imposition of Super Tax (charging PKR 104 million), resulting in total tax expense of PKR 448.7 million.
Opportunities & Growth Drivers
- Expanding product portfolio in specialty textile auxiliaries and high-margin coating resins.
- Joint Venture with Rudolph and acquisitions adding scale and technology integration.
- Recovery in domestic large-scale manufacturing (LSM) providing stable underlying industrial demand.
Risks & Key Concerns
- Super Tax and regulatory tax changes significantly lowering net profit conversion.
- Volatility in imported petrochemical raw material prices and currency fluctuations.
- Geopolitical disruptions affecting Middle East shipping lanes and freight costs.
NRSL has demonstrated exceptional operating leverage, reaching record revenues of PKR 12.24bn and doubling earnings to PKR 3.56/share. The stock offers strong operational momentum, supported by a PKR 1.50/share payout. Investors should monitor raw material cost stability and tax policy changes in upcoming quarters.