GHGL Ghani Glass Limited

Ghani Glass Limited (GHGL) financial ratios

Ghani Glass Limited earned a net margin of 14.9% in FY2026 against a five-year average of 16.3% (Glass & Ceramics median 4.7%). Return on equity was 17.8%, compared with a sector median of 10.1%. The current ratio stood at 2.61× and debt was 0.1% of equity. Cash took about 226 days to cycle through receivables, inventory and payables.

FY2026 vs the Glass & Ceramics median

Gross margin: 29.1%; Sector median 20.5%
Operating margin: 18.3%; Sector median 11.3%
Net margin: 14.9%; Sector median 4.7%
Return on equity (ROE): 17.8%; Sector median 10.1%
Return on assets (ROA): 13.1%; Sector median 2.0%
Current ratio: 2.61×; Sector median 0.99×
Debt to equity: 0.1%; Sector median 12.9%
Asset turnover: 0.88×; Sector median 0.95×
Dividend payout ratio: 13.8%; Sector median 6.9%

Median of the 8 companies in the sector with the figure for their latest fiscal year.

GHGL financial ratios (annual) (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 * Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 * Jul 2019 – Jun 2020	FY2019 * Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 * Jul 2010 – Jun 2011	FY2010 * Jul 2009 – Jun 2010	FY2009 * Jul 2008 – Jun 2009	FY2008 * Jul 2007 – Jun 2008	FY2007 * Jul 2006 – Jun 2007
Profitability
Gross margin	29.1%	27.2%	27.5%	27.7%	29.2%	22.6%	15.2%	25.4%	31.2%	32.8%	30.7%	28.7%	23.9%	22.5%	23.2%	29.1%	28.9%	29.4%	29.8%	24.9%
EBITDA margin	22.5%	19.3%	19.3%	23.8%	25.8%	20.7%	15.7%	22.6%	24.6%	27.2%	25.6%	26.0%	20.6%	18.8%	18.1%	25.0%	24.8%	33.9%	31.6%	28.8%
Operating margin	18.3%	15.2%	15.4%	19.3%	20.6%	14.9%	8.4%	17.4%	19.4%	21.5%	19.7%	19.8%	14.2%	13.1%	14.4%	20.7%	20.9%	29.5%	26.8%	22.2%
Pre-tax margin	18.0%	15.0%	14.9%	19.6%	20.2%	14.1%	8.3%	18.1%	20.8%	21.5%	19.5%	17.0%	10.7%	9.9%	13.6%	19.9%	20.0%	20.2%	20.3%	15.2%
Net margin	14.9%	12.9%	14.1%	19.9%	19.6%	15.0%	8.9%	18.2%	19.9%	17.4%	16.7%	14.1%	9.0%	8.4%	13.5%	14.1%	14.1%	13.7%	10.1%	9.5%
Effective tax rate	22.5%	22.9%	18.0%	5.5%	3.1%	(1.5%)	6.4%	2.8%	6.1%	22.2%	19.0%	22.8%	30.6%	19.2%	3.0%	27.7%	27.3%	26.7%	50.3%	37.4%
Returns
Return on equity (ROE)	17.8%	16.2%	21.7%	33.2%	32.1%	19.4%	9.6%	22.1%	24.1%	21.8%	20.6%	19.7%	13.6%	14.9%	22.6%	21.5%	24.2%	22.4%	14.7%	12.6%
Return on assets (ROA)	13.1%	11.6%	14.6%	21.9%	21.0%	12.4%	6.3%	15.4%	17.1%	15.6%	14.9%	12.8%	7.9%	8.3%	13.5%	15.1%	17.2%	14.8%	9.3%	8.0%
Return on invested capital (ROIC)	17.8%	16.2%	21.7%	32.8%	31.1%	18.4%	9.1%	21.6%	24.1%	21.8%	19.7%	16.0%	9.6%	10.6%	17.9%	20.4%	25.4%	21.8%	14.2%	11.0%
Liquidity
Current ratio	2.61×	2.69×	2.15×	1.88×	1.54×	1.34×	1.66×	1.57×	1.78×	2.07×	2.12×	1.73×	1.49×	1.33×	0.94×	1.71×	2.37×	1.98×	1.73×	1.59×
Quick ratio	1.32×	1.09×	0.71×	0.69×	0.76×	0.87×	0.64×	0.76×	1.26×	1.42×	1.13×	0.78×	0.70×	0.56×	0.34×	0.73×	1.03×	0.71×	0.68×	0.71×
Leverage
Debt to equity	0.1%	0.2%	0.3%	0.4%	2.2%	5.0%	6.9%	4.4%	—	—	—	9.3%	41.0%	43.9%	39.8%	7.5%	1.4%	3.6%	13.2%	14.5%
Debt to capital	0.1%	0.2%	0.3%	0.4%	2.2%	4.8%	6.4%	4.2%	—	—	—	8.5%	29.1%	30.5%	28.5%	6.9%	1.4%	3.4%	11.7%	12.7%
Debt to assets	0.1%	0.1%	0.2%	0.3%	1.5%	3.2%	4.4%	3.0%	—	—	—	6.6%	24.2%	25.1%	21.4%	8.5%	1.7%	4.0%	12.7%	13.8%
Assets to equity	1.36×	1.40×	1.49×	1.52×	1.53×	1.56×	1.52×	1.43×	1.41×	1.40×	1.38×	1.53×	1.72×	1.80×	1.67×	1.43×	1.41×	1.51×	1.59×	1.57×
Efficiency
Asset turnover	0.88×	0.90×	1.03×	1.10×	1.07×	0.83×	0.71×	0.85×	0.86×	0.89×	0.89×	0.91×	0.88×	0.99×	1.00×	1.07×	1.22×	1.08×	0.92×	0.84×
Receivable days days	75	63	55	51	48	62	82	69	67	65	60	52	47	38	44	55	51	57	73	82
Inventory days days	191	205	178	132	84	113	146	97	79	99	112	111	108	101	113	127	118	141	164	150
Payable days days	40	50	59	54	52	47	25	17	12	24	30	25	24	50	57	35	38	46	58	53
Cash conversion cycle days	226	218	174	129	79	128	203	149	133	140	142	138	130	89	100	147	130	152	179	180
Dividends
Dividend payout ratio	13.8%	25.4%	14.8%	10.4%	34.7%	161.7%	71.6%	71.7%	58.1%	71.5%	87.2%	48.0%	0.0%	0.0%	46.0%	11.0%	26.3%	37.1%	41.9%	53.7%
Earnings retention rate	0.86×	0.75×	0.85×	0.90×	0.65×	(0.62×)	0.28×	0.28×	0.42×	0.29×	0.13×	0.52×	1.00×	1.00×	0.54×	0.89×	0.74×	0.63×	0.58×	0.46×

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

GHGL: frequently asked questions

What is GHGL's EPS?

Ghani Glass Limited reported basic earnings per share of Rs 7.23 for FY2026 (Jul 2025 – Jun 2026).

What is GHGL's P/E ratio?

At the closing price of Rs 39.22 on 16 Oct 2026, GHGL trades at a P/E of 5.4× based on EPS of Rs 7.23 (FY2026).

Does GHGL pay dividends?

Yes. Ghani Glass Limited declared a dividend of Rs 3.50 per share for FY2026. It has paid a dividend in each of the last 8 years. At Rs 39.22 that is a dividend yield of 8.9%.

What was GHGL's revenue and profit in FY2026?

Ghani Glass Limited reported revenue of Rs 48.4 bn and profit attributable to shareholders of Rs 7.2 bn for FY2026 (Jul 2025 – Jun 2026).

What is GHGL's book value per share?

Ghani Glass Limited's book value per share was Rs 42.09 at the end of FY2026. The shares trade at 0.93× book value.

Information only, not investment advice.