Thal Limited · PSX:THALL
Thal — H1 FY2024-25 Earnings Presentation
40 slides from Thal's earnings presentation, Mar 18, 2025
Slide 1: Corporate Briefing Session
Corporate Briefing Session March 18, 2025 at 11:30 A.M.
Slide 2: Company Profile
Company Profile 1966 Incorporated: Publicly listed: 1 business Pioneer project of Jan 31, 1966 1967 division House of Habib 2025 AA/A-1+ rating 6 business divisions (long & short) – JCR-VIS 2
Slide 3: Company Profile
Company Profile Thal Limited Associates/ Divisions Subsidiaries Investments Habib METRO Pakistan Strategic Engineering Real estate investing & Associates Investments Auto parts property management JV with Metro Cash & Carry International (60%) Indus SECMC Motor JV with Govt. of Company Sindh, Engro,
Slide 4: Business Highlights
Business Highlights FY 23-24 (Q2) FY 24-25 (Q2) Financials Revenue Rs. 11.2 billion Rs. 13.2 billion Profit (before tax) Rs. 1.1 billion Rs. 1.8 billion • Continuous progress by Engineering division to establish new technical partners in order to expand product offering. • Additional dealers added t
Slide 5: Solar Energy Capacity Across Divisions
Solar Energy Capacity Across Divisions Packaging 1.7 MW 6.2 Laminates Jute Mega Watt 0.4 MW 3.5 MW Engineering 0.6 MW Solar energy capacity across various divisions is successfully contributing towards sustainable energy goals. Committed to expand the solar capacity.
Slide 6: Financial Highlights
Financial Highlights 6
Slide 7: Financial Overview
Financial Overview 300 0 Revenue - Net Gross Profit Profit Before tax EBITDA 10, 000 250 0 7,836 7,501 7,486 Rs in million (Revenue) 8,0 00 200 0 Rs in Million 5,843 5,751 1,591 6,0 00 5,371 1,411 150 0 1,208 1,111 1272 1,033 4,0 00 958 788 100 0 674 723 850 821 496 811 2,0 00 500 575 550 481 350 0
Slide 8: Profit or Loss (Unconsolidated)
Profit or Loss (Unconsolidated) for the six months ended Dec-2023 Dec-2024 Rs. in Million (except for EPS & Breakup Value) Revenue 11,214 13,237 Gross Profit 1,125 1,292 Profit before taxation and levies 1,074 1,768 Profit after taxation and levies 706 1,345 EPS (Rs.) 8.72 16.60 Breakup value (Rs.)
Slide 9: Balance Sheet
Balance Sheet Jun-2024 Dec-2024 ASSETS EMPLOYED --------------- Rs. in Million --------------- Non-current assets 19,789 19,796 Current assets 22,966 24,296 Total Assets Employed 42,755 44,092 FINANCED BY Shareholders’ equity 31,247 32,162 Non-current liabilities 3,807 3,558 Current liabilities 7,70
Slide 10: Thal Limited Company Profile
Thal Limited Company Profile Thal Limited Associates/ Divisions Subsidiaries Investments Habib METRO Engineering Pakistan Strategic Associates Investments Real estate investing & Auto parts manufacturing property management JV with Metro Cash & Carry International (60%) Indus SECMC Motor JV with Gov
Slide 11: Automobile Industry: Quarterly Sales (Units)
Automobile Industry: Quarterly Sales (Units) 25,000 22,842 HACPL IMC PSMC 20,000 18,895 19,152 18,692 14,318 15,000 13,536 13,136 9,800 10,000 9,070 8,794 8,568 8,094 9,145 7,580 7,069 6,503 5,855 5,830 6,160 6,381 4,400 6,470 5,000 6,018 5,520 3,200 4,980 5,044 4,448 1,890 3,736 3,285 2,366 2,520 -
Slide 12: Thermal Systems Business
Thermal Systems Business Product Offering Technical Assistance Reserve Tank CSM CSM//Al. Al.Radiator Radiator Condenser Hose & Tubes Heater Core Evaporator HVAC 12
Slide 13: Electric Systems Business
Electric Systems Business Product Offering Technical Assistance S No. OEM No. of Harness Cabin Harness Rear Harness 1 Toyota 206 2 Honda 92 3 Suzuki 59 4 Hyundai 61 5 Others 100 TOTAL 518 Floor Harness Panel Harness Engine Harness & Battery Cable 13
Slide 14: Business Expansion – New variants secured
Business Expansion – New variants secured Suzuki Every Hyundai HR Porter Hyundai Elantra KIA Shehzore 14
Slide 15: Aftermarket Network Expansion
Aftermarket Network Expansion A network of 19 dealerships across various cities in Pakistan Karachi Hyderabad Multan Faisalabad Lahore* Islamabad Peshawar* Sukkur Sialkot*,** Gujranwala*,** Sahiwal** *recently added **under evaluation 15
Slide 16: Diversification (White Goods & Power Sector)
Diversification (White Goods & Power Sector) • Successful development of a “Transformer Oil Level Sensor” for the power sector. • Successfully fulfilled the educational order to KE, commercial order next. • Targeting other electricity distribution companies. • Identification for reliable Chinese TAA
Slide 17: Thal Boshoku Pakistan (Private) Limited
Thal Boshoku Pakistan (Private) Limited Product Offering Toyota Yaris Seats Toyota Corolla Cross Genuine Leather Seats Joint Venture Seat Track & Side Frame Air Cleaner 17
Slide 18: Awards
Awards Best Development Vendor Conference Best Quality & Best Supplier Achievement Award 2024 Environmental Excellence Award 2024 (HNMPL) (HNMPL) Award 2024 (IMC) (HACPL)
Slide 19: Thal Limited Company Profile
Thal Limited Company Profile Thal Limited Associates/ Divisions Subsidiaries Investments Habib METRO Engineering Pakistan Strategic Associates Investments Real estate investing & Auto parts manufacturing property management JV with Metro Cash & Carry International (60%) Indus SECMC Motor JV with Gov
Slide 20: Jute Division – Product Mix
Jute Division – Product Mix July 2023 – December 2023 July 2024 – December 2024 Sales Quantity: 5,578 MT Sales Quantity: 6,801 MT Sacking Others 12% Others 16% 9% Sacking 47% Hessian 44% Hessian 72% Despite the overall increase in quantity of jute, the product mix has changed significantly, highligh
Slide 21: Jute Industry Production with Thal's Share
Jute Industry Production with Thal’s Share 80 150% 70 70 67 65 63 130% 58 Total Production Volume (Tons in '000) 60 110% Thal Ltd. Share 50 90% 41 40 70% 45% 30 50% 35% 36% 36% 44% 44% 20 16 30% 10 42% 10% 0 -10% FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 2Q 2025 PJMA Production Thal's Share Source:
Slide 22: Jute Division – Export
Jute Division – Export 12,000 80% 72% 76% 69% 67% 76% 78% 70% 60% 60% 10,000 50% 40% 8,000 30% Volume Tons 20% 6,000 6,708 4,934 10% 5,379 0% 4,000 5,944 4,659 -10% 3,055 3,318 -20% 3,086 2,000 2,399 2,625 -30% 1,880 1,303 -40% 955 975 0 -50% FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 2Q 2025 Other M
Slide 23: Thal Limited Company Profile
Thal Limited Company Profile Thal Limited Associates/ Divisions Subsidiaries Investments Habib METRO Engineering Pakistan Strategic Associates Investments Real estate investing & Auto parts manufacturing property management JV with Metro Cash & Carry International (60%) Indus SECMC Motor JV with Gov
Slide 24: Packaging Division History
Packaging Division History 24
Slide 25: Products
Products Cement Bags Industrial Sacks Self Opening Carrier Bags Polypropylene Satchels & Burger Bags Wraps - Guar Gum - Fashion Bags - Fast food Bags - Multi-Ply Sacks - Tile Bond/Adhesive - Sports Wear - Grocery Bags - Cement Bags - Semi-Extensible & - Carbon Black - Cosmetics High Porous of Paper
Slide 26: Customer Base
Customer Base *includes domestic and international (export) customers 26
Slide 27: Growing Global Presence - Exports
Growing Global Presence - Exports USA UK/Europe - WPP retail Bags Fashion Bags / - Fashion Bags Food Bags Africa Middle East - Cement Paper - WPP Bags - Cement Paper Bgs - Industrial Bags - Fashion Bags - Foods Bags 27
Slide 28: Certifications
Certifications ISO FSC Halal 9001: 2015 FSSC ISO CTPAT 22000 14001 :2015 ISO PSQCA GRS 45001 :2018 28
Slide 29: Awards
Awards 21st Annual Environmental Excellence 14th Annual Fire Safety Award Awards 2024
Slide 30: Thal Limited Company Profile
Thal Limited Company Profile Thal Limited Associates/ Divisions Subsidiaries Investments Habib METRO Engineering Pakistan Strategic Associates Investments Real estate investing & Auto parts manufacturing property management JV with Metro Cash & Carry International (60%) Indus SECMC Motor JV with Gov
Slide 31: Laminates Division Products
Products Laminates Division Laminated Compact High Pressure Boards Laminates Laminates Business Performance Localization & Cost Avoidance • Positive turnaround amid improving economic conditions • The percentage of raw material localization has • Expanding regional reach through strategic sales hu
Slide 32: Thal Limited Company Profile
Thal Limited Company Profile Thal Limited Associates/ Divisions Subsidiaries Investments Habib METRO Pakistan Engineering Associates Strategic Real estate investing Auto parts & property Investments manufacturing management JV with Metro Cash & Carry International Indus SECMC (60%) Motor JV with Gov
Slide 33: Habib METRO Pakistan (Private) Limited
Habib METRO Pakistan (Private) Limited Shareholding Structure Dividend History Full year Six months ended 60% Thal Limited 40% Metro AG 1565 1318 ISB 1 1158 1065 LHE FSD 6 2 3 882 906 4 5 687 Rs in million 7 9 KHI 8 HMPL owns & manages a total of 9 Properties in Pakistan - Located in major cities (K
Slide 34: Thal Limited Company Profile
Thal Limited Company Profile Thal Limited Associates/ Divisions Subsidiaries Investments Habib METRO Pakistan Engineering Associates Strategic Real estate investing Auto parts & property Investments manufacturing management JV with Metro Cash & Carry International Indus (60%) Motor Company SECMC Jut
Slide 35: Thar Coal, Once a Myth…
Thar Coal, Once a Myth… Largest lignite coal deposits in the world would solve the country’s energy woes for 2016 Discovered in early Engro, Thal and GoS centuries Potential to produce joined hands to create the 1990 100,000 best example of public- 175 s ~ private partnership by the Geological Surve
Slide 36: …Now a Reality
…Now a Reality Forex saved $700 Mine depth million spent 195 m $2.5 billion 2,640 MW (Block I & II) (Will reach 3,300 MW once Lucky transitions form imported coal) Phase 1 Phase 2 Phase 3 EPTL (660MW) LEPC (660MW) TEL&ThalNova(660MW) *Railway & mine expansionn (11.2 million MT)
Slide 37: Cheapest Source of Power in the Country
Cheapest Source of Power in the Country Cheapest Power Source (Cost of power, Rs./KwH) Rs. 37 Rs. 24 Rs. 17 Rs. 12.5 Imported Coal LNG Thar Coal After Phase III *based on average rates, actuals may vary
Slide 38: ThalNova 330 MW Power Plant
ThalNova 330 MW Power Plant ThalNova Stats Dec 23 Dec 24 Produced (GWh) 1,009 902 Load Factor (%) 76% 68% 38
Slide 39: Thank You
Thank You 39
Slide 40: Question & Answers
Question & Answers 1. Please use the ‘raise hand’ feature in the ‘Reactions’ tab 2. Questions will be answered in the order they are received 3. Please state your full name/organization name & folio number before you proceed with your question 40