Dynea Limited (DYNO) ne FY25 ki corporate analyst briefing mein company ki saal bhar ki performance aur future outlook share kiya. Company ne FY25 mein EPS Rs45.99 report kiya, jo 27% YoY decline hai. Is ki bari wajah margins ka 4 percentage points girna tha, kyun ke DYNO ne apna market share bachane ke liye product prices neeche rakhi.
Iske bawajood, 1QFY26 mein earnings ne recovery ke asar dikhaye, jahan EPS 26% YoY barh kar Rs10.13 ho gaya, primarily 16% sales growth ki wajah se.
Key highlights briefing ke mutabiq:
- Company ne tough competition ke bawajood apna market share maintain rakha, lekin price cuts ki wajah se margins pressure mein rahe.
- Management ka kehna hai ke resin aur moulding segments ke margins stable rahne ki umeed hai.
- Takreeban 80% raw materials import hote hain, aur product prices international benchmarks ke mutabiq har quarter adjust kiye jate hain. FY26 budget mein in raw materials par lagne wali tamam additional customs duties khatam kar di gayi hain.
- Methanol, company ka sab se key raw material, resin ke total cost ka 50%+ aur moulding cost ka 20–25% cover karta hai.
- DYNO ne 1.8MW ka solar system install kiya hai jo rozana 3–4 ghante tak total power demand ka 20% pura karta hai. Saath hi 1.1MW wind turbine project Hub plant ke liye develop ho raha hai, jiska CAPEX Rs600mn hai aur completion end-2026 expected hai.
- Grid electricity ki cost takreeban Rs30/unit hai jabke solar se yeh cost Rs25–26/unit tak aa jati hai.
- FY25 mein company ne Rs1 billion ke around Afghanistan ko export kiya (total sales ka 7.5%), lekin border closures ki wajah se shipment temporarily ruk gayi hai. Company intermediary channels explore kar rahi hai, magar high freight cost abhi challenge hai.
- Management ne bataya ke business me seasonality hoti hai — August se Ramzan tak demand zyada hoti hai, jabke lambi monsoon spells operations aur sales ko slow kar sakti hain.
- Resin aur moulding ki imports bohot kam hain, jabke mulk ke andar 5–6 major players operate karte hain.
- Management ne confirm kiya ke stock split under consideration nahi hai.
DYNO ka share is waqt Rs275 par trade ho raha hai, jabke market cap Rs5bn aur FY25 ka average P/E 4.81x record kiya gaya.
