KTCL finalises new plan to fulfil over $100m of export orders

ISLAMABAD: The Khyber Tobacco Company Limited (KTCL) has chalked out a new plan to meet over US 100 million dollars of export orders and bring millions of dollars’ investment into Pakistan during 2022-23.

Details of the company’s data available with the Pakistan Stock Exchange (PSX) disclosed that during 2022-23, the company has targeted to achieve just under $ 100 million of orders to increase foreign exchange earnings.

Despite current economic situation, the company has drafted an ambitious plan for meeting the export orders during 2022-23.

The data revealed that the exports of the KTCL grew by 485 percent for 2021-2022 compared to 2020-21, thus the company increased its exports by almost five times. While the total revenue growth stood at 43% for 2021-2022 over same period last year, which shows that the company has focused onto exports to bring in foreign exchange and help the nation’s economy in these critical and extremely crucial times.

PSX information revealed that the KTCL is Pakistan’s only national cigarette manufacturer which is listed on Pakistan Stock Exchange (PSX) and is the only such company which is not controlled by foreign entities. The company has grown exponentially and marked a staggering growth of 19.13 percent CAGR (based on revenue) over the past 5 years. The market price per share was Rs 184.5 in June 2019 and within three years it has doubled while the current market price of KTCL share is hovering around Rs 365 to Rs 375 (December 2022).

Copyright Business Recorder, 2023