Rafhan Maize Products Company Limited (RMPL): CY23 Corporate Briefing Takeaways – By Taurus Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Rafhan Maize Products Co. Limited commenced operations in 1953 as a pioneer in the corn refining industry. Over the years, it has evolved into one of the leading agro-based industries in Pakistan. The Company operates corn processing plants in Punjab, Faisalabad, and Kotri. Ingredion Incorporated, an American food and beverage ingredient provider, holds 71% of the Company's shares, while the remaining 29% are held by minority shareholders.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">During CY23, the Company&rsquo;s net sales clocked in at ~PKR 66Bn as compared to ~PKR 59Bn in the SPLY mainly attributed to increase in corn procurement by the Company. Similarly, gross margin was recorded at ~21%...