Faisalabad: Pakistan Aluminium Beverage Cans Limited (PABC), the nation's sole manufacturer and exporter of aluminum beverage cans, has announced significant advancements in its production capacity and financial performance, according to its annual report for the year ending December 31, 2024.
Founded in December 2014, PABC began commercial production in September 2017 with an initial capacity of 700 million cans per year. By January 2024, this capacity had expanded to 1.2 billion cans annually. The company operates from a modern facility in M-3 Industrial City, Faisalabad, serving both domestic and international markets.
Despite operating in a volatile business environment marked by economic uncertainty, supply chain disruptions, and shifting trade policies, PABC reported a 17% increase in net sales, reaching PKR 23.07 billion. This growth reflects an increase of PKR 3.33 billion from the previous year, driven by heightened sales and improved pricing strategies.
According to information available from the Pakistan Stock Exchange (PSX), the company's earnings per share rose to Rs. 16.90, up from Rs. 13.90 in 2023. The gross profit margin experienced a slight dip to 36.53%, down from 38.74% the previous year. However, the post-tax profit margin saw a marginal improvement, rising to 26.46% from 25.42%.
The company's domestic sales showed marginal improvement, with sales reaching 302 million cans compared to 297 million the previous year. However, this performance still lags behind the potential market size.
Operating within a Special Economic Zone, PABC benefits from an exemption from minimum taxation, a provision enacted through the Finance Act 2024. Consequently, no current tax provision was recorded for 2024. The company has, however, provisioned for deferred taxation based on future liabilities, as all export income is now treated under the normal tax regime instead of the presumptive tax regime.
PABC continues to prioritize sustainable growth, financial prudence, and operational efficiency to adapt to competitive pressures and global trade shifts. The company's chairman expressed appreciation for the continued trust and support from shareholders, employees, and business partners, emphasizing PABC's commitment to navigating future challenges and opportunities.
In the designated market category of industrial manufacturing, PABC's financial results indicate a robust performance in a challenging economic landscape. The company's profit before tax surged by 27.46% to PKR 6.76 billion, while profit after tax climbed by 21.64% to PKR 6.10 billion. The company's strategic focus on market responsiveness and risk management positions it well for sustained growth in the coming years.