It is engaged in the production of beverage bottles such as those of 7-up and Slice; Empty glass pharmaceutical bottles, and tableware. The latter includes items such as tumblers, mugs, jars, jugs, cups and saucers, etc. under the brand name 'Marimax'. It is also in the plastic products manufacturing, producing crates used to hold bottles.

Shareholding pattern

Balochistan Glass Limited is mostly owned by the directors, CEO, their spouses and minor children, at 68 percent. Of this, Mr. Muhammad Tauseef Paracha who is the CEO of the company holds majority of the shares. Local general public holds about 11 percent while associated companies, undertakings and related parties collectively hold a little over 10 percent. The remaining 11 percent of shares is distributed between the rests of the categories.

Historical and operational performance

BGL's top-line has been fluctuating throughout the decade in both value terms and the growth rate. The company's margins are also following a similar trend of movement.

Quarterly performance and future outlook

Increase in top-line is accompanied by an increase in costs between 1QFY19 and 1QFY20 with the top-line growing from Rs127 million in 1QFY19 to Rs423 million in 1QFY20 due to efficiency at Unit-I of pharmaceutical operations. Since energy is one of the major components of the company's costs of production, profitability can primarily be lifted by a reduction in costs along with continuous supply. In addition, BGL also launched a new glassware brand by the name of 'Mari-Crystal' while looking to revamp and upgrade Unit-III with the intent of enhancing production capacity.

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BGL: Quarterly results
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Rs (mn)                          1QFY20      1QFY19          YoY
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Net revenue- LHS                    423         127      233.07%
Cost of sales                     (429)       (187)      129.41%
Gross profit/(loss)                 (6)        (60)      -90.00%
Administrative expenses            (23)        (18)       27.78%
Other operating income                0          99     -100.00%
Operating profit/(loss)            (29)          21     -238.10%
Finance cost                       (26)        (11)      136.36%
Profit/(loss) before taxa          (55)          10     -650.00%
Taxation                         (0.50)      (0.70)      -28.57%
Profit after taxation              (56)           9     -696.77%
EPS                              (0.21)        0.04
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Source: Company accounts

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BGL: Shareholding pattern as at June 30,2019
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Categories of shareholders                                        %
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Directors, CEO, their spouses and children                  68.0357
Associated companies, undertakings, and related parties     10.6236
NIT & ICP
Banks, DFIs, NBFIs                                           1.5274
Insurance companies                                           0.066
Modarabas and mutual funds                                    0.539
General public:
Local                                                       11.4127
General                                                       0.013
Others:
Pension funds                                                0.0207
Foreign companies                                            5.8681
Joint stock companies                                        1.8372
Other companies                                              0.0566
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Total                                                           100
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Source: Company accounts

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