Karachi: The Organic Meat Company Limited (TOMCL), a leading exporter of halal meat from Pakistan, has demonstrated remarkable growth in 2024, with net sales reaching PKR 11.80 billion, up from PKR 6.37 billion in 2023—an increase of 85%. This information is provided according to data available from the Pakistan Stock Exchange (PSX).

The Karachi-based company has seen substantial growth across various financial metrics for the fiscal year 2024, as detailed in the recent analyst briefing. Gross profit nearly doubled to PKR 1.58 billion from PKR 852.45 million, reflecting a consistent growth percentage of 85%, mirroring the increase in net sales. However, profit before tax showed a decline, down 33% to PKR 483.45 million from PKR 722.19 million the previous year, primarily due to higher operating expenses and a significant drop in other income.

Operating expenses rose by 46% to PKR 787.41 million, compared to PKR 539.56 million in 2023. Finance costs also increased by 28%, totaling PKR 231.49 million. Notably, other income decreased dramatically by 77%, from PKR 675.03 million in 2023 to PKR 154.36 million in 2024.

Despite these challenges, TOMCL achieved a net profit of PKR 497.37 million in 2024, down from PKR 722.19 million in 2023, marking a 31% decrease. The earnings per share followed a similar trend, dropping from PKR 4.86 to PKR 3.35.

The company's market reach has expanded significantly, with operations not only in traditional markets like the UAE, Saudi Arabia, and other Middle East countries but also extending into China and North America, showcasing an aggressive push towards global market integration.

TOMCL has also been proactive in its operational enhancements and innovations. Notable achievements include the completion of Expansion Phase 2, which increased production capacity by 300 metric tons per month, and securing a USD 12 million contract for supplying frozen cooked beef meat to China.

The firm's strategic expansions and diverse product offerings across various categories such as fresh chilled meat, frozen meat, and speciality offal products underscore its comprehensive approach to capturing market share in the competitive meat export industry. According to information available from the Pakistan Stock Exchange (PSX), this holistic strategy positions TOMCL as a pivotal player in global meat trade, catering to a wide array of international markets and consumer needs.