Nimir Resins doubles FY26 profit to Rs503m

MG News September 11, 2026 (MLN): Nimir Resins Limited (PSX: NRSL) posted a strong performance for the year ended June 30, 2026, with its net profit doubling to Rs503.33m from Rs249.47m in the corresponding period last year. Showing this exceptional bottom-line growth, the company's basic and diluted earnings per share (EPS) expanded to Rs3.56 from Rs1.77 in FY25. The Board of Directors has declared a full and final cash dividend of Rs1.50 per share (15%) for the year ended June 30, 2026. The top-line showed strong growth, with gross revenue rising 32% year-on-year to Rs14.49bn from Rs10.97bn. After accounting for sales tax which rose 32% to Rs2.25bn net revenue posted a 32% increase to Rs12.24bn from Rs9.26bn in the prior year. Cost of revenue rose at a slower pace of 26% to Rs10.51bn, creating a meaningful positive differential with revenue growth and allowing gross profit to surge 85% to Rs1.73bn from Rs935.24m showing a significant improvement in margins driven by better pricing and cost management. On the expenditure side, distribution cost rose 37% to Rs190.77m, and administrative expenses increased 41% to Rs186.73m. These combined movements still allowed operating profit to more than double to Rs1.35bn from Rs663.68m. Below the operating line, other operating expenses rose 61% to Rs159.28m from Rs98.99m. Finance cost declined 9% to Rs295.47m from Rs324.46m, providing a meaningful tailwind. Other income declined 42% to Rs53.82m from Rs92.54m. No levy was recorded in the current year, against Rs41.20m in FY25 an additional saving that boosted the pre-tax line. These combined factors pushed profit before levies and taxation to nearly triple at Rs951.99m from Rs332.78m, and profit before taxation to more than triple at Rs951.99m from Rs291.58m. The factor that moderated the bottom-line expansion was a dramatically higher income tax charge. Taxation surged to Rs448.66m from just Rs42.11m in the prior year more than tenfold absorbing a substantial portion of the pre-tax gains. Despite this, the exceptional operational recovery was sufficient to deliver the doubling in net profit for the year. September 11, 2026 (MLN): STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED JUNE 30, 2026 (Rupees) Description 2026 2025 Change (%) Gross revenue 14,490,692,477 10,970,690,908 32.09% Less: Sales tax (2,252,385,589) (1,711,877,390) 31.57% Net revenue 12,238,306,888 9,258,813,518 32.18% Cost of revenue (10,507,882,458) (8,323,574,726) 26.24% Gross Profit 1,730,424,430 935,238,792 85.02% Distribution cost (190,773,492) (139,412,513) 36.84% Administrative expenses (186,731,235) (132,145,806) 41.31% Operating Profit 1,352,919,703 663,680,473 103.85% Other operating expenses (159,280,614) (98,991,963) 60.90% Finance cost (295,469,042) (324,455,997) -8.93% Other income 53,817,735 92,542,964 -41.85% Profit before Levies and Taxation 951,987,782 332,775,477 186.08% Levies - (41,197,452) Profit before Taxation 951,987,782 291,578,025 226.50% Taxation (448,661,296) (42,105,987) 965.55% Net Profit for the Year 503,326,486 249,472,038 101.76% Earnings per share - Basic and Diluted 3.56 1.77 101.13% Copyright Mettis Link News