By Qudsia Bano
ISLAMABAD, June 22 (INP-WealthPK): Revenues of International Steels Limited climbed by 39% to Rs70.5 billion in the first nine months (July-March) of the ongoing fiscal year 2021-22 from Rs50.9 billion in the same period of 2020-21. The company’s net income thus increased by 4% to Rs5.3 billion from Rs5.1 billion. Gross profit increased by 5% to Rs9.5 billion from Rs9 billion, while trade discounts decreased by 22% to Rs73.1 billion during the two comparable periods.
| Particulars | 31-Mar-22 | 31-Mar-21 | YoY Growth |
| ‘000 PKR | ‘000 PKR | ||
| Total Revenue | 70,557,394 | 50,917,815 | 39% |
| Gross Profit | 9,514,092 | 9,052,664 | 5% |
| Profit before Tax | 7,045,915 | 7,320,001 | -4% |
| Net Income | 5,355,214 | 5,152,136 | 4% |
Annual Results 2020-21
| PATTERN OF SHAREHOLDING – INTERNATIONAL STEELS LIMITED As of June 30, 2021 | ||
| Categories of Shareholders | Shares Held | Percentage |
| Sponsors / Holding Company | 245,055,543 | 56.335 |
| Directors, Chief Executive Officers and their spouse(s), and minor children | 11,308,500 | 2.600 |
| Associated Companies, Undertakings, and related Parties | 39,477,657 | 9.075 |
| NIT and NBP | 7,098,218 | 1.632 |
| Banks, Development Financial Institutions, Non-Banking Financial Institutions | 9,268,017 | 2.131 |
| Insurance Companies | 4,968,883 | 1.142 |
| Modarabas and Mutual Funds | 13,653,486 | 3.139 |
| Public & Other Companies | 13,403,953 | 3.081 |
| Retirement Funds & Charitable Trusts | 2,385,711 | 0.548 |
| Strategic Investor | 20,626,500 | 4.742 |
| Foreign Companies | 2,534,412 | 0.583 |
| Modarabas & Others | 25,000 | 0.006 |
| General Public / Individuals – Local | 58,002,078 | 13.334 |
| General Public / Individuals – Foreign | 7,192,042 | 0.9291% |
| Total | 435,000,000 | 100.00 |
| Source: Company financial Report | ||
Directors, chief executive officers, their spouse(s) and minor children owned 2.6% of the company’s shares as of June 30, 2021. Sponsors or holding companies owned 56.3%, and associated companies, undertakings and related parties owned 9% of the shares.
NIT and NBP held 1.6% of the shares, while banks, development financial institutions and non-banking financial institutions owned 2.1% of the total shares of the company.
Insurance companies owned around 1.1% of the shares. Modarabas and mutual funds held 3.1%; public and other companies held 3% and strategic investors owned 4.7% of the shares. General public (local) owned 13.3% of the shares, while the general public (foreigners) held 0.9291% of the total shares of the International Steels Limited.
Financial Performance (2020-21)
The company’s net revenues climbed by 45% to Rs69.7 billion during the fiscal year 2020-21 due to good growth in all income sources. In 2019-20, the company’s revenue stood at Rs48 billion. The company’s gross profit climbed by 220% to Rs13.4 billion in 2020-21 from the previous year’s Rs4.2 billion. During 2020-21, the company made a profit-after-tax of Rs7.4 billion compared to Rs494 million in 2019-20, resulting in earnings per share (EPS) of Rs17.16 versus Rs1.14 the previous year.
| Particulars | 30-Jun-21 | 30-Jun-20 | Growth % |
| Rs. In 000 | Rs. In 000 | ||
| Gross Revenue | 69,796,240 | 48,081,937 | 45% |
| Gross Profit | 13,491,873 | 4,212,857 | 220% |
| Operating Profit | 11,106,522 | 2,756,987 | 303% |
| Profit after Tax | 7,466,331 | 494,851 | 1409% |
| Earnings Per Share | 17.16 | 1.14 | 1405% |
Earnings Per Share
Earnings per share of International Steels Limited continued to decline from 2018 to 2020, but in 2021 the EPS increased massively to Rs17.16 from Rs1.14 the previous year. This sudden increase in EPS was the result of high revenues and net income generated by the company during 2020-21.
International Steels Limited produces cold-rolled steel coils, galvanized coils, and colour-coated steel. It offers cold-rolled steel in thicknesses ranging from 0.25mm to 3.0mm, galvanized steel in thicknesses ranging from 0.25mm to 2.0mm, and colour-coated steel in thicknesses ranging from 0.20mm to 1.50mm. It has a rolling capacity of 500,000 tonnes and generates about 400,000 metric tonnes of galvanized steel. Colour-coated sheets are produced on a variety of substrates, including cold-rolled, galvanized, galvalume, aluminum and stainless-steel sheets. Its cold-rolled steel is used in ceiling lights, tube lights, ceiling fans, oil drums, lube drums and motorcycle frames, while its galvanized steel is used in packaging, furniture, washing machines, gas ovens and microwave ovens, and its colour-coated steel is used in ice boxes, tubs, buckets and storage bins.
