Tariq Glass able to eke out growth despite softening market

Tariq Glass Industries Ltd squeezed out growth in a tricky year for Pakistan’s glass and ceramics market, leaning on pricing power and tighter cost control even as demand cooled enough to idle a furnace. The group’s subsidiary, Baluchistan Glass Ltd, remains in rehabilitation mode with all three of its plants temporarily shut, but a phased restart plan and a pivot toward pharmaceutical glass suggest a more constructive year ahead if energy supply stabilises.

Revenue growth was steady rather than spectacular: net sales increased 13% year-on-year to Rs33,562 million (from Rs29,599 million), while gross profit climbed 33% to Rs10,415 million, pushing the gross margin up to 31% from 26%. Operating profit grew 38% to Rs9,294 million as selling and administrative costs remained contained.