PKGS Packages Limited

Packages Limited (PKGS) financial ratios

Packages Limited earned a net margin of 0.1% in FY2025 against a five-year average of 4.1% (Paper, Board & Packaging median 3.6%). Return on equity was -2.7%, compared with a sector median of 5.5%. The current ratio stood at 0.98× and debt was 153.6% of equity. Cash took about 157 days to cycle through receivables, inventory and payables.

FY2025 vs the Paper, Board & Packaging median

Gross margin: 20.8%; Sector median 14.1%
Operating margin: 10.2%; Sector median 9.6%
Net margin: 0.1%; Sector median 3.6%
Return on equity (ROE): -2.7%; Sector median 5.5%
Return on assets (ROA): 0.1%; Sector median 2.5%
Current ratio: 0.98×; Sector median 1.50×
Debt to equity: 153.6%; Sector median 43.0%
Asset turnover: 0.75×; Sector median 0.87×

Median of the 12 companies in the sector with the figure for their latest fiscal year.

PKGS financial ratios (annual) (Rs mn)
Rs mn	FY2025 Jan – Dec 2025	FY2024 Jan – Dec 2024	FY2023 Jan – Dec 2023	FY2022 Jan – Dec 2022	FY2021 Jan – Dec 2021	FY2020 Jan – Dec 2020	FY2019 Jan – Dec 2019	FY2018 Jan – Dec 2018	FY2017 Jan – Dec 2017	FY2016 Jan – Dec 2016	FY2015 Jan – Dec 2015	FY2014 Jan – Dec 2014	FY2013 * Jan – Dec 2013	FY2012 Jan – Dec 2012	FY2011 Jan – Dec 2011	FY2010 Jan – Dec 2010	FY2009 Jan – Dec 2009	FY2008 Jan – Dec 2008	FY2007 Jan – Dec 2007	FY2006 Jan – Dec 2006
Profitability
Gross margin	20.8%	19.7%	24.1%	21.5%	21.9%	21.7%	18.1%	12.7%	18.4%	22.2%	21.5%	16.3%	15.2%	13.4%	13.0%	6.4%	5.1%	10.0%	14.9%	18.0%
EBITDA margin	14.8%	14.7%	22.3%	20.6%	19.3%	17.0%	14.7%	10.1%	12.5%	14.3%	14.7%	10.3%	9.9%	16.5%	19.2%	8.5%	7.1%	11.5%	13.1%	15.1%
Operating margin	10.2%	10.4%	18.4%	16.5%	15.1%	12.2%	8.9%	3.6%	7.2%	10.6%	11.4%	7.0%	6.8%	7.3%	7.0%	0.8%	(1.6%)	4.8%	7.2%	10.3%
Pre-tax margin	2.6%	(0.0%)	9.8%	9.8%	12.0%	7.8%	3.2%	3.3%	38.7%	28.6%	20.2%	15.3%	14.4%	18.9%	8.9%	0.6%	37.6%	(4.0%)	54.9%	70.6%
Net margin	0.1%	(0.8%)	6.6%	5.7%	8.9%	7.0%	0.5%	2.2%	34.1%	21.8%	15.4%	13.6%	11.7%	15.6%	(2.5%)	(1.1%)	14.7%	(2.9%)	41.1%	59.6%
Effective tax rate	94.8%	—	32.5%	41.4%	25.6%	10.8%	85.7%	32.8%	11.9%	23.7%	23.9%	11.1%	19.2%	17.3%	128.5%	285.5%	61.0%	—	25.1%	15.6%
Returns
Return on equity (ROE)	(2.7%)	(3.8%)	13.0%	11.6%	12.2%	8.0%	0.3%	1.3%	16.8%	10.4%	6.9%	5.3%	5.5%	7.7%	(1.5%)	(1.2%)	11.8%	(2.6%)	25.2%	46.1%
Return on assets (ROA)	0.1%	(0.6%)	5.1%	4.8%	6.5%	4.4%	0.3%	1.1%	11.5%	7.7%	5.4%	4.3%	3.9%	4.8%	(0.8%)	(0.6%)	6.4%	(1.1%)	14.3%	28.7%
Return on invested capital (ROIC)	(0.5%)	—	11.0%	9.2%	9.3%	8.3%	0.8%	2.4%	13.6%	8.7%	6.3%	5.2%	4.8%	(4.1%)	(5.7%)	(7.8%)	8.6%	—	16.4%	31.8%
Liquidity
Current ratio	0.98×	1.00×	1.10×	1.08×	1.15×	1.34×	1.10×	1.08×	1.35×	1.23×	1.42×	1.65×	1.63×	2.11×	2.49×	3.21×	3.91×	1.27×	2.35×	1.54×
Quick ratio	0.46×	0.44×	0.43×	0.46×	0.52×	0.66×	0.56×	0.53×	0.74×	0.85×	0.98×	1.07×	1.06×	1.83×	0.95×	1.43×	1.50×	0.47×	0.97×	0.61×
Leverage
Debt to equity	153.6%	130.2%	97.0%	106.4%	67.7%	52.3%	52.6%	44.5%	30.5%	24.8%	16.6%	12.4%	17.9%	22.1%	33.5%	30.9%	35.5%	97.6%	69.7%	53.8%
Debt to capital	60.6%	56.6%	49.2%	51.5%	40.4%	34.3%	34.5%	30.8%	23.4%	19.9%	14.3%	11.0%	15.2%	18.1%	25.1%	23.6%	26.2%	49.4%	41.1%	35.0%
Debt to assets	49.7%	47.0%	40.2%	41.9%	34.1%	29.7%	30.0%	26.9%	20.9%	18.1%	12.9%	10.2%	13.9%	14.5%	21.7%	20.7%	23.0%	44.5%	37.8%	32.2%
Assets to equity	2.93×	2.58×	2.46×	2.28×	1.88×	1.76×	1.70×	1.55×	1.42×	1.33×	1.25×	1.25×	1.39×	1.53×	1.51×	1.51×	1.81×	2.01×	1.77×	1.60×
Efficiency
Asset turnover	0.75×	0.73×	0.77×	0.84×	0.73×	0.63×	0.57×	0.48×	0.34×	0.35×	0.35×	0.32×	0.34×	0.31×	0.32×	0.53×	0.43×	0.39×	0.35×	0.48×
Receivable days days	66	62	61	63	67	75	78	81	102	101	103	114	110	104	88	52	63	64	67	55
Inventory days days	121	129	143	126	118	108	101	95	95	63	71	81	80	134	174	100	128	123	120	108
Payable days days	30	35	41	36	37	36	33	34	47	56	59	55	41	42	43	14	10	8	9	6
Cash conversion cycle days	157	155	164	153	148	147	146	142	150	108	115	139	149	196	219	138	181	178	178	157
Dividends
Dividend payout ratio	—	—	26.8%	35.5%	29.3%	44.5%	700.8%	145.1%	25.2%	43.5%	40.6%	32.6%	34.6%	17.5%	—	—	0.0%	—	0.0%	8.1%
Earnings retention rate	—	—	0.73×	0.65×	0.71×	0.55×	(6.01×)	(0.45×)	0.75×	0.57×	0.59×	0.67×	0.65×	0.83×	—	—	1.00×	—	1.00×	0.92×

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.

PKGS: frequently asked questions

What is PKGS's EPS?

Packages Limited reported basic earnings per share of Rs -20.55 for FY2025 (Jan – Dec 2025).

Does PKGS pay dividends?

Yes. Packages Limited declared a dividend of Rs 16.00 per share for FY2025. It has paid a dividend in each of the last 17 years. At Rs 684.00 that is a dividend yield of 2.3%.

What was PKGS's revenue and profit in FY2025?

Packages Limited reported revenue of Rs 193.2 bn and profit attributable to shareholders of -Rs 1.8 bn for FY2025 (Jan – Dec 2025).

What is PKGS's book value per share?

Packages Limited's book value per share was Rs 746.92 at the end of FY2025. The shares trade at 0.92× book value.

Information only, not investment advice.