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Leather & Tanneries

SGF Service GlobalFootwear Limited

Latest results: FY2025 · Dec 2025

Last close · 16 Oct 2026

Rs 105.82 -0.20%

Financials

Service GlobalFootwear Limited (SGF) financials

6 years of annual results (FY2020 – FY2025).

Service GlobalFootwear Limited (SGF) reported revenue of Rs 19.9 bn for FY2025 (Jan – Dec 2025), up 14.1% from FY2024.

Profit attributable to shareholders was Rs 1.9 bn (EPS Rs 9.39), up 74.0%, a net margin of 9.7%.

It declared a dividend of Rs 2.00 per share for FY2025 and has paid a dividend in each of the last 5 years.

Net debt stood at Rs 7.1 bn.

Return on equity was 24.8%.

Over the last five years revenue grew at a compound 23.7% a year.

At Rs 105.82 (close on 16 Oct 2026) the shares trade at 11.3× earnings (FY2025) and 2.60× book value, with a dividend yield of 1.9%.

Fundamentals

SGF at a glance

Revenue · FY2025

Rs 19.9 bn

▲ 14.1% year on year

Profit attributable to shareholders · FY2025

Rs 1.9 bn

▲ 74.0% year on year

EPS – basic (Rs) · FY2025

Rs 9.39

▲ 73.8% year on year

Dividend per share (Rs) · FY2025

Rs 2.00

▼ 50.0% year on year

Net margin · FY2025

9.7%

+3.3 pts year on year

Debt to equity · FY2025

99.7%

-30.0 pts year on year

Financial statements

Income statement

Revenue, costs, profit and earnings per share.

Revenue · FY2025
Rs 19.9 bn
Profit attributable · FY2025
Rs 1.9 bn

Balance sheet

Assets, liabilities, debt and shareholders' equity.

Total assets · FY2025
Rs 20.9 bn
Equity · FY2025
Rs 8.4 bn

Cash flow

Cash from operations, investment, financing and free cash flow.

Operating cash flow · FY2025
Rs 727.6 mn
Free cash flow · FY2025
-Rs 833.7 mn

Financial highlights

SGF financial results

SGF annual financial highlights (Rs bn)
Rs bn FY2025 Jan – Dec 2025 FY2024 Jan – Dec 2024 FY2023 Jan – Dec 2023 FY2022 Jan – Dec 2022 FY2021 Jan – Dec 2021
Revenue 19.9 17.5 15.1 11.8 7.0
Gross profit 3.9 3.2 3.3 2.2 1.2
Operating profit 1.0 0.7 1.4 0.7 0.5
Profit after tax 1.9 1.1 1.2 0.3 0.4
Profit attributable to shareholders 1.9 1.1 1.2 0.3 0.4
EPS – basic (Rs) Rs 9.39 5.40 5.70 1.67 2.10
Dividend per share (Rs) Rs 2.00 4.00 5.00 3.50 2.00
Total assets 20.9 19.4 19.0 14.4 12.6
Total equity 8.4 7.2 6.5 6.2 6.7
Total debt 8.4 9.3 8.6 5.9 4.2
Net cash from operating activities 0.7 (0.5) (0.0) (1.4) 0.7
Capital expenditure (1.6) (0.2) (0.7) (0.7) (0.2)
Free cash flow (operating cash flow − capex) (0.8) (0.7) (0.8) (2.1) 0.5

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets. Free cash flow and book value per share are calculated by Smart Money; TTM = the latest four quarters. Updated 15 Oct 2026.

SGF charts

Revenue and profit Revenue Profit attributable
Revenue and profit Rs 20 bn Revenue FY20: Rs 6.9 bn Profit attributable FY20: Rs 708.8 mn FY20 Revenue FY21: Rs 7.0 bn Profit attributable FY21: Rs 403.2 mn FY21 Revenue FY22: Rs 11.8 bn Profit attributable FY22: Rs 342.1 mn FY22 Revenue FY23: Rs 15.1 bn Profit attributable FY23: Rs 1.2 bn FY23 Revenue FY24: Rs 17.5 bn Profit attributable FY24: Rs 1.1 bn FY24 Revenue FY25: Rs 19.9 bn Profit attributable FY25: Rs 1.9 bn FY25
Margins Gross margin Operating margin Net margin
Margins 24% 12% 0% Gross margin FY20: 19.9% Gross margin FY21: 17.6% Gross margin FY22: 18.6% Gross margin FY23: 22.2% Gross margin FY24: 18.2% Gross margin FY25: 19.7% Operating margin FY20: 9.9% Operating margin FY21: 6.5% Operating margin FY22: 6.1% Operating margin FY23: 9.2% Operating margin FY24: 4.1% Operating margin FY25: 4.9% Net margin FY20: 10.3% Net margin FY21: 5.7% Net margin FY22: 2.9% Net margin FY23: 7.8% Net margin FY24: 6.4% Net margin FY25: 9.7% FY20 FY21 FY22 FY23 FY24 FY25
Cash flow Operating cash flow Capex Free cash flow
Cash flow Rs 988 mn -Rs 2 bn Operating cash flow FY20: Rs 988.3 mn Capex FY20: -Rs 264.8 mn Free cash flow FY20: Rs 723.5 mn FY20 Operating cash flow FY21: Rs 673.7 mn Capex FY21: -Rs 215.0 mn Free cash flow FY21: Rs 458.7 mn FY21 Operating cash flow FY22: -Rs 1.4 bn Capex FY22: -Rs 684.2 mn Free cash flow FY22: -Rs 2.1 bn FY22 Operating cash flow FY23: -Rs 39.2 mn Capex FY23: -Rs 738.8 mn Free cash flow FY23: -Rs 777.9 mn FY23 Operating cash flow FY24: -Rs 508.3 mn Capex FY24: -Rs 178.5 mn Free cash flow FY24: -Rs 686.8 mn FY24 Operating cash flow FY25: Rs 727.6 mn Capex FY25: -Rs 1.6 bn Free cash flow FY25: -Rs 833.7 mn FY25