ایم ڈبلیو ایم پی کا خالص منافع 192.6 فیصد اضافے سے 214.2 ملین روپے ہو گیا؛ کوئی ڈیویڈنڈ نہیں دیا گیا۔ MWMP posts massive 192.6% PAT growth to PKR 214.2m in FY26; EPS rises to PKR 7.45; no dividend declared.
کمپنی نے مالی سال 2026 میں شاندار کارکردگی کا مظاہرہ کیا ہے۔ خالص منافع (PAT) میں ریکارڈ 192.59% اضافہ دیکھا گیا ہے جس سے منافع 214.19 ملین روپے تک پہنچ گیا۔ کمپنی کی خالص فروخت میں بھی 68.35% کا نمایاں اضافہ ہوا۔ ماضی کے جمع شدہ نقصانات میں 77.09% کی بڑی کمی واقع ہوئی ہے، تاہم بورڈ نے باقیماندہ نقصانات کی وجہ سے کسی ڈیویڈنڈ کا اعلان نہیں کیا۔ آڈیٹرز نے ٹیکس اور غیر دعویٰ شدہ ڈیویڈنڈز سے متعلق بعض تحفظات پر اپنی رپورٹ میں کوالیفائیڈ رائے دی ہے۔
مالیاتی موازنہ (لاکھ روپے میں)
| پیمانہ | مالی سال 2026 | مالی سال 2025 | تبدیلی (%) |
|---|---|---|---|
| خالص آمدنی (Revenue) | 1,878,880,075 | 1,116,036,213 | +68.35% |
| مجموعی منافع (Gross Profit) | 441,827,097 | 190,019,720 | +132.52% |
| ٹیکس سے قبل منافع (PBT) | 319,794,545 | 99,979,308 | +219.86% |
| خالص منافع (PAT) | 214,190,842 | 73,204,262 | +192.59% |
| جمع شدہ نقصانات (Accumulated Losses) | (65,336,207) | (285,078,321) | -77.09% |
- ٹیکس کی عدم شناخت: کمپنی نے تیسرے فریق سے روکے گئے انکم ٹیکس پر ممکنہ سود یا جرمانے کے چارجز کو تسلیم نہیں کیا جس کا تخمینہ ریکارڈ کی عدم دستیابی کی وجہ سے نہیں لگایا جا سکا۔
- غیر دعویٰ شدہ ڈیویڈنڈ کا فرق: کمپنی کے پاس 2.209 ملین روپے کے غیر دعویٰ شدہ ڈیویڈنڈز کی ذمہ داری موجود ہے لیکن اس مقصد کے لیے بینک اکاؤنٹ میں صرف 10,000 روپے موجود ہیں۔ آڈیٹرز کو اس 2.199 ملین روپے کے فرق کا تسلی بخش جواب نہیں مل سکا۔
- Going Concern سے متعلق خدشات: آڈیٹرز نے کمپنی کے جمع شدہ نقصانات (65.34 ملین روپے) کی وجہ سے کمپنی کے مستقل طور پر کام جاری رکھنے کی صلاحیت پر سوال اٹھایا ہے۔
کمپنی نے 250 ملین روپے مالیت کا توسیعی منصوبہ شروع کر رکھا ہے جس کے تحت نئی مشینری کی تنصیب کا کام مکمل ہو چکا ہے اور سال کے اختتام کے فوراً بعد تجارتی پیداوار شروع ہو گئی ہے۔ اس سے کمپنی کی پیداواری صلاحیت میں خاطر خواہ اضافہ ہوگا۔
مالیاتی طور پر کمپنی کا شاندار ٹرن آراؤنڈ ہوا ہے جس سے نقصانات کم ہو کر صرف 65 ملین روپے رہ گئے ہیں۔ پیداواری صلاحیت میں اضافے سے منافع بخش مستقبل متوقع ہے۔ تاہم، سرمایہ کاروں کو آڈیٹرز کی کوالیفائیڈ رائے اور غیر دعویٰ شدہ ڈیویڈنڈز کے بینک اکاؤنٹس میں فنڈز کی شدید کمی پر گہری نظر رکھنی چاہیے۔
Mandviwalla Mauser Plastic Industries Limited (MWMP) recorded a spectacular turnaround in FY26, reporting a massive 192.59% YoY increase in Profit After Tax (PAT) to PKR 214.19 million, up from PKR 73.20 million in FY25. EPS surged to PKR 7.45 from PKR 2.55. Net sales rose by 68.35% due to aggressive market penetration. Historically accumulated losses were reduced by 77.09%, leaving a remaining balance of PKR 65.34 million. No dividend was declared as the company aims to absorb remaining losses. Investors must note that the audit report contains a qualified opinion regarding tax liabilities, dividend bank account shortfalls, and a material uncertainty on going concern.
Financial Performance Snapshot (PKR)
| Financial Metric | FY 2025-26 | FY 2024-25 | Change (%) |
|---|---|---|---|
| Net Sales | 1,878,880,075 | 1,116,036,213 | +68.35% |
| Gross Profit | 441,827,097 | 190,019,720 | +132.52% |
| Profit Before Taxation | 319,794,545 | 99,979,308 | +219.86% |
| Profit After Taxation | 214,190,842 | 73,204,262 | +192.59% |
| Accumulated Losses | (65,336,207) | (285,078,321) | -77.09% |
- Tax Unrecognized Liability: The company did not recognize any default surcharge or potential liability under section 205 of the Income Tax Ordinance, 2001, relating to unpaid third-party withheld taxes.
- Unclaimed Dividend Deficit: Although there is an outstanding unclaimed dividend liability of PKR 2.209 million, the balance maintained in the designated bank account is only PKR 10,000. Auditors highlighted an unsupported difference of PKR 2.199 million.
- Going Concern Material Uncertainty: Despite reducing accumulated losses substantially to PKR 65.34 million, the company faces material uncertainty over its ability to continue as a going concern, as raised by the auditors.
MWMP is actively executing its PKR 250 million expansion plan approved in late 2025. During FY26, major capital expenditure was completed, machinery was installed, and commercial production began subsequent to the year-end. This is expected to lift sales volume significantly going forward.
The Verdict: While MWMP\'s operational turnaround is highly encouraging, with earnings jumping almost threefold and sales skyrocketing, investors should remain cautious. The severe funding deficit in the unclaimed dividend account and qualified audit notes on potential tax surcharges suggest management must tighten financial governance before the stock is deemed fully resilient.
Mandviwalla Mauser Plastic Industries Limited (MWMP) recorded a spectacular turnaround in FY26, reporting a massive 192.59% YoY increase in Profit After Tax (PAT) to PKR 214.19 million, up from PKR 73.20 million in FY25. EPS surged to PKR 7.45 from PKR 2.55. Net sales rose by 68.35% due to aggressive market penetration. Historically accumulated losses were reduced by 77.09%, leaving a remaining balance of PKR 65.34 million. No dividend was declared as the company aims to absorb remaining losses. Investors must note that the audit report contains a qualified opinion regarding tax liabilities, dividend bank account shortfalls, and a material uncertainty on going concern.
Financial Performance Snapshot (PKR)
| Financial Metric | FY 2025-26 | FY 2024-25 | Change (%) |
|---|---|---|---|
| Net Sales | 1,878,880,075 | 1,116,036,213 | +68.35% |
| Gross Profit | 441,827,097 | 190,019,720 | +132.52% |
| Profit Before Taxation | 319,794,545 | 99,979,308 | +219.86% |
| Profit After Taxation | 214,190,842 | 73,204,262 | +192.59% |
| Accumulated Losses | (65,336,207) | (285,078,321) | -77.09% |
- Tax Unrecognized Liability: The company did not recognize any default surcharge or potential liability under section 205 of the Income Tax Ordinance, 2001, relating to unpaid third-party withheld taxes.
- Unclaimed Dividend Deficit: Although there is an outstanding unclaimed dividend liability of PKR 2.209 million, the balance maintained in the designated bank account is only PKR 10,000. Auditors highlighted an unsupported difference of PKR 2.199 million.
- Going Concern Material Uncertainty: Despite reducing accumulated losses substantially to PKR 65.34 million, the company faces material uncertainty over its ability to continue as a going concern, as raised by the auditors.
MWMP is actively executing its PKR 250 million expansion plan approved in late 2025. During FY26, major capital expenditure was completed, machinery was installed, and commercial production began subsequent to the year-end. This is expected to lift sales volume significantly going forward.
The Verdict: While MWMP\'s operational turnaround is highly encouraging, with earnings jumping almost threefold and sales skyrocketing, investors should remain cautious. The severe funding deficit in the unclaimed dividend account and qualified audit notes on potential tax surcharges suggest management must tighten financial governance before the stock is deemed fully resilient.