Merit Packaging Limited · PSX:MERIT
Merit Packaging — Corporate Update (November 2024)
25 slides from Merit Packaging's corporate update, Nov 8, 2024
Slide 1: Corporate Briefing Session
Corporate Briefing Session MERIT PACKAGING LIMITED November 08, 2024
Slide 2: Disclaimer
DISCLAIMER THIS PRESENTATION IS NOT AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL ANY SECURITIES OR ANY INVESTMENT This presentation has been prepared by Merit Packaging Limited (MPL) solely for information purposes. No representation or warranty express or implied is made thereto, and no reli
Slide 3: Lakson History
LAKSON HISTORY • Established in 1954 by Mr. Hasan Ali Karabhai as a trading concern • Grew organically over decades under the leadership and guidance of owners and sponsors • Group assets exceed USD 1.05 Billion • Domestic presence in more than 50 cities • International presence in UAE and USA • Emp
Slide 4: Lakson Group
LAKSON GROUP Corporate Briefing Session MERIT PACKAGING LIMITED November 08, 2024
Slide 5: About Us
ABOUT US • Established in 1980 • Experience of over 4 decades in the packaging industry • One of three companies in Pakistan with Offset and flexible packaging • Customer portfolio of local and multi-national corporations • European machines providing unmatched quality Corporate Briefing Session MER
Slide 6: Customer Portfolio
CUSTOMER PORTFOLIO LOCAL BRANDS AND CUSTOMERS * All trademarks are the property of the respective owners INTERNATIONAL BRAND Corporate Briefing Session MERIT PACKAGING LIMITED November 08, 2024
Slide 7: Our Certifications
OUR CERTIFICATIONS * All trademarks are the property of the respective owners Corporate Briefing Session MERIT PACKAGING LIMITED November 08, 2024
Slide 8: Vision
VISION To emerge as a preeminent force in the packaging industry, harmonizing our clients’ packaging aspirations with our unparalleled expertise, driving innovation, sustainability, and value creation. Corporate Briefing Session MERIT PACKAGING LIMITED November 08, 2024
Slide 9: Mission
MISSION At Merit Packaging Limited, we are dedicated to complementing our clients’ packaging ambitions with our unrivaled expertise and commitment to excellence. We strive to: 1) Collaborate closely with our clients to understand their unique packaging needs and deliver tailored solutions that excee
Slide 10: Values
VALUES Our values and priorities have helped our business to continue to forge ahead during the unprecedented challenges of the past year. Corporate Briefing Session MERIT PACKAGING LIMITED November 08, 2024
Slide 11: Our Culture
OUR CULTURE People are the core of our journey. We believe in the holistic well-being of our employees. Work-life balance Employee recognition Diversity Community engagement Mentorship Succession program planning Corporate Briefing Session MERIT PACKAGING LIMITED November 08, 2024
Slide 12: CSR Activities
CSR ACTIVITIES We believe in giving back to the society and community Blood Donation CSR 2024 Ration Earth day Distribution Corporate Briefing Session MERIT PACKAGING LIMITED November 08, 2024
Slide 13: Sustainable Packaging
SUSTAINABLE PACKAGING • Use of FSC-certified board • Water-based ink-reducing VOC foot- print • Production wastage sent to sister concern for recycling • Sourcing of raw materials from responsible plastic suppliers • Plastic waste is recycled to produce various plastic toys and utilities Corporate B
Slide 14: Production Facility: Offset Division
PRODUCTION FACILITY OFFSET DIVISION • High-end printing technology • Capacity to produce more than 1300 MT per month • State-of-the-art printing technology • Efficient post-press machines to support high- speed creasing & cutting and folding & gluing Corporate Briefing Session MERIT PACKAGING LIMITE
Slide 15: Production Facility: Gravure Division
PRODUCTION FACILITY GRAVURE DIVISION • State-of-the-art BOBST gravure printing machine • Capable of producing 9 color printing • Top-notch laminators and slitters • 3 Laminators, 2 Slitters, 2 Rewinders Corporate Briefing Session MERIT PACKAGING LIMITED November 08, 2024
Slide 16: Achievements Since 2021
ACHIEVEMENTS SINCE 2021 • Reduced losses from Rs. 565 million to Rs. 183 million despite unprecedented discount rates and economic slowdown • Increased GP by 1,190% from a loss of 42 million to a profit of Rs. 458 million • Revenue expansion by 128.71% • Operating cash generation grew from negative
Slide 17: Economic Challenges
ECONOMIC CHALLENGES • Decelerated growth due to multiple global geo-political. • Economic slowdown across all sectors • Frustratingly slow last quarter of FY 2024 • High inflation in FY 2024 • Record high discount rates • Depleted purchasing power parity • Low GDP Growth Corporate Briefing Session M
Slide 18: Achievements in a Gloomy Economy
ACHIEVEMENTS IN A GLOOMY ECONOMY • Retained position being the top supplier • Increased revenue despite reduced economic activity • Growth in topline by 4.7% from last year • Reduction in bottom line loss by 2% • Exported to Africa and UK with bright prospects awaiting in FY 2025 Corporate Briefing
Slide 19: Sponsor Support
SPONSOR SUPPORT • Unwavering support from sponsors in the shape of: Injection of funds through the right issue in FY 2022 of Rs. 1.4 billion Time-to-time rescheduling of sponsor loans Keeping sponsor loan interest-free New loan of Rs. 250 million offered by sponsors in FY 2021 Total sponso
Slide 20: Financial Summary
FINANCIAL SUMMARY VERTICAL ANALYSIS HORIZONTAL ANALYSIS 2024 2023 (restated) 2024 2023 (restated) Rs. '000 % Rs. '000 % Rs. '000 % Rs. '000 % PROFIT & LOSS ACCOUNT PROFIT & LOSS ACCOUNT Sales - net 6,638,477 100% 6,340,624 100% Sales - net 6,638,477 5% 6,340,624 52% Cost of sales (6,180,364) -93% (5
Slide 21: Revenue
REVENUE 7,000 6,638 6,341 6,000 5,000 Rupees in million 4,182 4,000 2,860 2,903 3,000 2,450 2,158 2,000 1,000 - 2018 2019 2020 2021 2022 2023 2024 Corporate Briefing Session MERIT PACKAGING LIMITED November 08, 2024
Slide 22: EBITDA
EBITDA 600 500 468 485 400 Rupees in million 286 300 209 200 100 35 9 - 2018 2019 2020 2021 2022 2023 2024 (100) (200) (167) Corporate Briefing Session MERIT PACKAGING LIMITED November 08, 2024
Slide 23: Loss Per Share
LOSS PER SHARE 2020 2021 2022 2023 2024 - (1) (1.11) (0.95) (0.93) (2) (3) (4) Rupees (5) (6) (7) (7.01) (8) (9) (8.59) (10) * 2022, 2023 EPS restated Corporate Briefing Session MERIT PACKAGING LIMITED November 08, 2024
Slide 24: Outlook
OUTLOOK • Lurking shadows of regional conflict escalations impacting international prices • Discount rate may drop to 12% by the end of this Fiscal year • PKR parity to remain stable which is largely based on the successful continuation of the IMF program • Enhanced economic activity is yet to have
Slide 25: Corporate Briefing Session
Corporate Briefing Session MERIT PACKAGING LIMITED November 08, 2024