Karachi: Ardar Chemical Industries Limited has announced a notable improvement in its financial performance for 2024, marked by a substantial increase in net sales and profits compared to the previous year. The company held a Corporate Briefing Session to discuss these developments.

As of 2024, Ardar Chemical Industries recorded net sales of 503.87 million Pakistani Rupees, representing a 37.57% increase from 366.29 million Rupees in 2023. The gross profit also saw a significant rise, reaching 175.51 million Rupees, up from 108.02 million Rupees. The operating profit improved to 90.32 million Rupees from 42.92 million Rupees in the prior year.

The company's profit before tax grew to 76.98 million Rupees from 30.88 million Rupees, while profit after tax increased to 52.33 million Rupees from 24.33 million Rupees. According to information available from the Pakistan Stock Exchange (PSX), the earnings per share doubled, rising from 4.05 Rupees to 8.72 Rupees.

Ardar Chemical Industries' financial position also strengthened, with total assets increasing to 429.07 million Rupees from 330.47 million Rupees. Fixed assets rose to 86.19 million Rupees from 29.88 million Rupees, while long-term liabilities expanded to 44.31 million Rupees from 9.66 million Rupees.

The company's return on shareholder equity before tax increased to 25.36% from 15.90%, and after tax to 18.28% from 13.40%. The gross profit margin improved to 34.83% from 29.49%, and the profit margin before tax rose to 15.28% from 8.43%.

The liquidity position remained stable, with the current ratio slightly decreasing from 4.26 to 4.20. The total liabilities to equity ratio increased from 1.31 to 1.41, indicating a higher reliance on debt financing.

The company’s shareholder structure as of June 30, 2024, comprised 1,660 individual shareholders holding 69.66% of shares, and directors holding 22.54%. Other categories included joint stock companies, financial institutions, and mutual funds.