GVGL Ghani Value Glass Limited

Ghani Value Glass Limited (GVGL) financial ratios

Ghani Value Glass Limited earned a net margin of 14.1% in FY2026 against a five-year average of 17.2% (Glass & Ceramics median 4.7%). Return on equity was 20.4%, compared with a sector median of 10.1%. The current ratio stood at 2.58× and debt was — of equity. Cash took about 118 days to cycle through receivables, inventory and payables.

FY2026 vs the Glass & Ceramics median

Gross margin: 38.3%; Sector median 20.5%
Operating margin: 19.9%; Sector median 11.3%
Net margin: 14.1%; Sector median 4.7%
Return on equity (ROE): 20.4%; Sector median 10.1%
Return on assets (ROA): 14.5%; Sector median 2.0%
Current ratio: 2.58×; Sector median 0.99×
Asset turnover: 1.03×; Sector median 0.95×
Dividend payout ratio: 15.2%; Sector median 6.9%

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

GVGL 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
Profitability
Gross margin	38.3%	36.8%	35.2%	34.8%	37.4%	34.8%	28.9%	31.5%	25.5%	7.4%	11.0%	10.8%	10.7%	12.4%	8.8%	12.0%
EBITDA margin	23.2%	25.0%	25.2%	23.2%	26.7%	20.5%	15.9%	24.7%	19.3%	3.3%	4.4%	4.4%	4.7%	6.8%	5.4%	7.6%
Operating margin	19.9%	21.5%	21.2%	20.9%	24.4%	18.6%	13.6%	22.5%	16.5%	(0.1%)	1.3%	2.6%	2.8%	5.1%	3.3%	4.9%
Pre-tax margin	23.7%	24.5%	24.8%	23.4%	25.7%	20.6%	14.0%	23.2%	16.6%	1.5%	2.3%	4.2%	4.7%	6.5%	6.5%	6.7%
Net margin	14.1%	18.3%	18.1%	13.5%	22.2%	23.0%	14.0%	23.8%	14.3%	2.5%	2.2%	3.1%	3.8%	4.5%	4.9%	5.1%
Effective tax rate	40.2%	25.1%	27.3%	42.5%	13.8%	(12.0%)	(0.3%)	(2.6%)	14.1%	(59.6%)	5.8%	25.6%	18.4%	30.2%	24.6%	23.4%
Returns
Return on equity (ROE)	20.4%	26.5%	28.8%	22.7%	37.2%	40.3%	25.7%	46.2%	28.8%	4.1%	4.3%	6.0%	7.4%	10.4%	15.9%	—
Return on assets (ROA)	14.5%	17.7%	18.0%	13.9%	26.6%	30.5%	18.5%	31.0%	16.7%	2.1%	2.2%	3.4%	4.3%	5.2%	6.5%	—
Return on invested capital (ROIC)	20.4%	26.5%	28.8%	22.7%	37.2%	40.3%	25.7%	46.2%	28.8%	4.1%	4.1%	5.5%	6.7%	8.4%	13.0%	—
Liquidity
Current ratio	2.58×	1.65×	1.56×	1.13×	1.25×	2.20×	2.44×	2.29×	1.66×	1.24×	1.27×	1.11×	1.70×	1.56×	1.01×	0.85×
Quick ratio	1.21×	0.71×	0.70×	0.46×	0.62×	1.68×	1.58×	1.54×	1.23×	0.83×	0.82×	0.77×	1.25×	1.18×	0.63×	0.33×
Leverage
Debt to equity	—	—	—	—	—	—	—	—	—	—	—	14.7%	0.0%	22.7%	27.0%	16.8%
Debt to capital	—	—	—	—	—	—	—	—	—	—	—	12.8%	0.0%	18.5%	21.2%	14.4%
Debt to assets	—	—	—	—	—	—	—	—	—	—	—	7.7%	0.0%	12.5%	11.7%	6.5%
Assets to equity	1.40×	1.50×	1.60×	1.63×	1.40×	1.32×	1.39×	1.49×	1.73×	1.94×	1.95×	1.76×	1.71×	1.99×	2.43×	—
Efficiency
Asset turnover	1.03×	0.96×	1.00×	1.04×	1.20×	1.32×	1.32×	1.30×	1.17×	0.86×	1.01×	1.08×	1.14×	1.16×	1.33×	—
Receivable days days	76	72	66	66	54	57	87	97	106	151	127	115	104	94	70	—
Inventory days days	166	164	151	133	81	65	82	72	71	94	77	58	57	64	76	—
Payable days days	124	159	173	184	121	87	93	107	153	215	175	132	109	117	134	—
Cash conversion cycle days	118	77	43	15	13	35	76	62	23	29	29	40	52	41	11	—
Dividends
Dividend payout ratio	15.2%	41.5%	0.0%	30.0%	85.3%	0.0%	146.7%	53.5%	66.1%	0.0%	161.5%	0.0%	391.7%	0.0%	294.1%	1,065.1%
Earnings retention rate	0.85×	0.59×	1.00×	0.70×	0.15×	1.00×	(0.47×)	0.47×	0.34×	1.00×	(0.62×)	1.00×	(2.92×)	1.00×	(1.94×)	(9.65×)

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.

GVGL: frequently asked questions

What is GVGL's EPS?

Ghani Value Glass Limited reported basic earnings per share of Rs 6.57 for FY2026 (Jul 2025 – Jun 2026).

What is GVGL's P/E ratio?

At the closing price of Rs 51.00 on 16 Oct 2026, GVGL trades at a P/E of 7.8× based on EPS of Rs 6.57 (FY2026).

Does GVGL pay dividends?

Yes. Ghani Value Glass Limited declared a dividend of Rs 2.00 per share for FY2026. It has paid a dividend in each of the last 2 years. At Rs 51.00 that is a dividend yield of 3.9%.

What was GVGL's revenue and profit in FY2026?

Ghani Value Glass Limited reported revenue of Rs 7.0 bn and profit attributable to shareholders of Rs 985.6 mn for FY2026 (Jul 2025 – Jun 2026).

What is GVGL's book value per share?

Ghani Value Glass Limited's book value per share was Rs 35.02 at the end of FY2026. The shares trade at 1.46× book value.

Information only, not investment advice.