Treet to produce Batteries, Soaps, and Corrugated Boxes

Treet Corporation Limited (TREET) held its Corporate Briefing Session yesterday, wherein the management discussed the company’s financial performance during FY22 and the outlook of the company.

To recall, the company posted earnings of PkR861.8mn (EPS: PkR4.82) for FY22 from its core operations, lower by 44%YoY.

The company’s core business is the manufacture and sale of Razors and Blades. The company has also entered into the manufacturing of Batteries, Soaps, and Corrugated Boxes through its First Treet Manufacturing Modaraba (FTMM).

In addition to this, the company also has a 12.57% stake in Loads Limited (LOADS), along with a 55.86% stake in Renacon Pharma Limited. 

The company has the highest market share in the razor and blades market of Pakistan, touting a market share of 80%. In addition to this, the battery segment reached a market share of 13% in 1QFY23.

Core business earnings during the year had dropped by 44%YoY due to: i) lower revenues; ii) higher input costs, including higher raw material (CRC sheet) costs; and iii) absence of rupee valuation surplus on assets that was booked in the previous year, which brought other income down by 53%YoY.

Courtesy – AKD Research

Posted in News Update.

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