On 29 April 2021, Azgard Nine Limited successfully implemented its Creditors' Scheme of Arrangement, which the Lahore High Court had sanctioned on 31 July 2019. The company informed the Pakistan Stock Exchange the next day. The milestone restructured the company's liabilities and put it on a stable footing for growth.
The years since show what that footing made possible. Net sales rose from Rs22.1 billion in FY2021 to Rs33.8 billion in FY2022 and Rs42.5 billion in FY2026. Equity grew from Rs8.0 billion to Rs15.6 billion over the same period, and the debt-to-equity ratio improved from 56:44 to 25:75.
Key facts
- Implemented29 April 2021; disclosed to PSX on 30 April 2021
- Sanctioned31 July 2019, Lahore High Court
- Net salesRs22.1 billion (FY2021) to Rs42.5 billion (FY2026)
- Debt to equity56:44 (FY2021) to 25:75 (FY2026)
A stronger balance sheet lets Azgard9 invest in what its brand partners value: capacity, cleaner energy and responsible denim.
