PRL Pakistan Refinery Limited

Pakistan Refinery Limited (PRL) financial ratios

Pakistan Refinery Limited earned a net margin of 4.5% in FY2026 against a five-year average of 2.3% (Refinery median 3.6%). Return on equity was 45.5%, compared with a sector median of 13.6%. The current ratio stood at 1.21× and debt was 39.1% of equity. Cash took about 31 days to cycle through receivables, inventory and payables.

FY2026 vs the Refinery median

Gross margin: 9.2%; Sector median 7.3%
Operating margin: 7.9%; Sector median 6.2%
Net margin: 4.5%; Sector median 3.6%
Return on equity (ROE): 45.5%; Sector median 13.6%
Return on assets (ROA): 13.2%; Sector median 7.1%
Current ratio: 1.21×; Sector median 1.01×
Debt to equity: 39.1%; Sector median 25.5%
Asset turnover: 2.94×; Sector median 2.06×
Dividend payout ratio: 0.0%; Sector median 0.0%

Median of the 4 companies in the sector with the figure for their latest fiscal year.

PRL financial ratios (annual) (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 * Jul 2009 – Jun 2010	FY2009 Jul 2008 – Jun 2009	FY2008 Jul 2007 – Jun 2008	FY2007 Jul 2006 – Jun 2007
Profitability
Gross margin	9.2%	0.6%	4.9%	2.8%	10.6%	3.5%	(4.8%)	(2.7%)	1.1%	3.7%	3.0%	(0.8%)	(0.5%)	1.5%	0.0%	2.5%	(0.8%)	(3.9%)	5.0%	1.2%
EBITDA margin	8.3%	0.0%	3.1%	2.4%	9.5%	4.3%	(4.4%)	(2.6%)	2.3%	4.5%	3.1%	(0.7%)	(0.6%)	1.4%	0.2%	1.2%	(0.8%)	(3.8%)	4.2%	1.2%
Operating margin	7.9%	(0.4%)	2.7%	2.0%	8.9%	3.1%	(5.4%)	(3.4%)	1.5%	3.2%	1.8%	(1.1%)	(0.6%)	1.2%	0.0%	1.0%	(1.0%)	(4.0%)	4.0%	0.9%
Pre-tax margin	6.9%	(1.9%)	2.2%	1.3%	8.3%	1.8%	(7.6%)	(4.5%)	0.9%	2.1%	0.8%	(1.8%)	(0.6%)	0.9%	(0.7%)	0.8%	(2.5%)	(7.2%)	3.4%	0.9%
Net margin	4.5%	(1.5%)	1.3%	0.7%	6.6%	1.0%	(8.4%)	(5.0%)	0.5%	1.5%	0.4%	(1.3%)	(0.6%)	0.4%	(1.3%)	0.2%	(3.9%)	(5.9%)	2.2%	0.4%
Effective tax rate	34.6%	—	39.5%	45.9%	21.0%	42.8%	—	—	39.2%	26.4%	41.8%	—	—	59.9%	—	69.5%	—	—	35.1%	50.3%
Returns
Return on equity (ROE)	45.5%	(16.6%)	14.8%	7.5%	98.1%	100.1%	(455.3%)	(153.8%)	14.1%	40.2%	14.3%	(100.4%)	(96.9%)	46.7%	(92.6%)	9.1%	(131.4%)	(101.8%)	36.4%	5.4%
Return on assets (ROA)	13.2%	(4.3%)	3.8%	1.9%	19.1%	2.5%	(19.4%)	(15.9%)	1.8%	4.2%	1.0%	(4.0%)	(3.1%)	1.6%	(5.5%)	0.8%	(9.4%)	(16.2%)	11.0%	1.9%
Return on invested capital (ROIC)	32.7%	—	10.8%	7.0%	43.2%	9.1%	—	—	6.8%	12.8%	6.2%	—	—	12.2%	—	4.6%	—	—	46.0%	7.0%
Liquidity
Current ratio	1.21×	1.06×	1.04×	0.99×	0.93×	0.53×	0.45×	0.69×	0.79×	0.65×	0.60×	0.67×	0.76×	0.86×	0.89×	0.92×	0.88×	0.96×	1.34×	1.38×
Quick ratio	0.80×	0.74×	0.63×	0.53×	0.57×	0.26×	0.19×	0.41×	0.43×	0.34×	0.34×	0.46×	0.40×	0.42×	0.65×	0.50×	0.64×	0.68×	0.79×	0.84×
Leverage
Debt to equity	39.1%	105.1%	96.7%	126.1%	80.7%	880.3%	—	541.5%	229.4%	243.7%	487.2%	622.3%	1,481.5%	640.4%	49.7%	66.2%	135.0%	188.4%	0.0%	0.0%
Debt to capital	28.1%	51.2%	49.2%	55.8%	44.7%	89.8%	101.0%	84.4%	69.6%	70.9%	83.0%	86.2%	93.7%	86.5%	33.2%	39.8%	57.5%	65.3%	0.0%	0.0%
Debt to assets	12.8%	25.9%	26.4%	30.3%	20.9%	44.0%	47.9%	44.3%	30.5%	29.1%	42.6%	36.1%	29.2%	28.4%	1.3%	6.8%	10.3%	12.6%	0.0%	0.0%
Assets to equity	3.44×	3.85×	3.89×	4.01×	5.15×	40.83×	23.49×	9.69×	7.88×	9.62×	14.05×	25.32×	31.54×	28.98×	16.97×	11.34×	14.01×	6.27×	3.31×	2.85×
Efficiency
Asset turnover	2.94×	2.87×	2.86×	2.67×	2.90×	2.41×	2.31×	3.15×	3.27×	2.76×	2.33×	3.06×	5.05×	4.29×	4.30×	3.45×	2.42×	2.73×	4.97×	4.30×
Receivable days days	53	48	38	30	23	27	36	35	29	33	44	37	26	44	47	55	83	65	32	35
Inventory days days	31	31	42	43	37	38	34	27	29	32	33	31	27	27	25	32	37	41	30	31
Payable days days	53	60	60	56	56	79	59	35	39	46	65	67	46	68	74	86	—	—	50	51
Cash conversion cycle days	31	18	20	17	3	(15)	11	27	19	19	11	1	6	3	(2)	0	120	106	12	14
Dividends
Dividend payout ratio	0.0%	—	0.0%	0.0%	0.0%	0.0%	—	—	0.0%	0.0%	32.2%	—	—	0.0%	—	23.4%	—	—	2.4%	0.0%
Earnings retention rate	1.00×	—	1.00×	1.00×	1.00×	1.00×	—	—	1.00×	1.00×	0.68×	—	—	1.00×	—	0.77×	—	—	0.98×	1.00×

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

PRL: frequently asked questions

What is PRL's EPS?

Pakistan Refinery Limited reported basic earnings per share of Rs 25.05 for FY2026 (Jul 2025 – Jun 2026).

What is PRL's P/E ratio?

At the closing price of Rs 106.95 on 16 Oct 2026, PRL trades at a P/E of 4.3× based on EPS of Rs 25.05 (FY2026).

Does PRL pay dividends?

Pakistan Refinery Limited did not declare a cash dividend for FY2026.

What was PRL's revenue and profit in FY2026?

Pakistan Refinery Limited reported revenue of Rs 350.8 bn and profit attributable to shareholders of Rs 15.8 bn for FY2026 (Jul 2025 – Jun 2026).

What is PRL's book value per share?

Pakistan Refinery Limited's book value per share was Rs 67.89 at the end of FY2026. The shares trade at 1.58× book value.

Information only, not investment advice.