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capitalstake.com. Provided by * Returns not adjusted for payouts
^The historical stock prices have been adjusted to reflect stock splits to ensure comparability over time.
Company Profile
Rafhan Maize Products Company Limited was incorporated in Pakistan. Ingredion Incorporated Chicago. U.S.A., holds majority shares of the Company. The Company uses maize as the basic raw material to manufacture and sell a number of industrial products, principal ones being industrial starches, liquid glucose, dextrose, dextrin and gluten meals.
| Humair Ijaz | CEO |
| Michael Fergus O'Riordan | Chairperson |
| Mustafa Kamal Zuberi | Company Secretary |
FAMCO Share Registration Services (Pvt.) Ltd., 8-F, Next to Hotel Faran, Nursery, Block-6, P.E.C.H.S., Shahrah-e-Faisal, Karachi
KPMG Taseer Hadi & Co. Chartered Accountants Lahore
December
Equity Profile
Announcements
| Date | Title | Document |
|---|---|---|
| Oct 30, 2025 | Transmission of Quarterly Report for the Period Ended September 30, 2025 | View PDF |
| Oct 30, 2025 | Financial Results for the Quarter Ended September 30, 2025 | View PDF |
| Aug 29, 2025 | Transmission of Quarterly Financial Statements for the Period Ended June 30, 2025 | View PDF |
| Aug 28, 2025 | Financial Results for the Quarter Ended June 30, 2025 | View PDF |
| Apr 30, 2025 | Transmission of Quarterly Report for the Period Ended March 31, 2025 | View PDF |
| Date | Title | Document |
|---|---|---|
| Nov 24, 2025 | Subject: Credit of Interim Cash Dividend | View |
| Nov 11, 2025 | DISCLOSURE OF MATERIAL INFORMATION | View PDF |
| Sep 26, 2025 | DISCLOSURE OF MATERIAL AND PRICE SENSITIVE INFORMATION | View PDF |
| Sep 19, 2025 | Credit of Second Interim Cash Dividend | View |
| May 16, 2025 | DISCLOSURE UNDER TAKEOVER REGULATIONS | View PDF |
Financials
All numbers in thousands (000's) except EPS
| 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Sales | 69,922,596 | 65,466,700 | 58,755,773 | 42,609,634 |
| Profit after Taxation | 7,475,113 | 6,912,778 | 6,179,385 | 6,257,323 |
| EPS | 809.31 | 748.43 | 669.02 | 677.46 |
| Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | |
|---|---|---|---|---|
| Sales | 18,913,059 | 17,470,034 | 19,060,166 | 16,689,790 |
| Profit after Taxation | 1,223,662 | 1,911,058 | 1,955,046 | 1,854,519 |
| EPS | 132.48 | 206.90 | 211.67 | 200.78 |

Ratios
| 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Gross Profit Margin (%) | 20.92 | 21.37 | 20.14 | 24.22 |
| Net Profit Margin (%) | 10.69 | 10.56 | 10.52 | 14.69 |
| EPS Growth (%) | 8.13 | 11.87 | (1.25) | 2.68 |
| PEG | 1.37 | 1.13 | (10.92) | 5.18 |
Payouts
| Date | Financial Results | Details | Book Closure |
|---|---|---|---|
| October 30, 2025 4:16 PM | 30/09/2025(IIIQ) | 1300%(iii) (D) | 11/11/2025 - 12/11/2025 |
| August 28, 2025 3:34 PM | 30/06/2025(HYR) | 1000%(ii) (D) | 09/09/2025 - 10/09/2025 |
| April 17, 2025 3:48 PM | 31/03/2025(IQ) | 1000%(i) (D) | 30/04/2025 - 02/05/2025 |
| February 21, 2025 4:57 PM | 31/12/2024(YR) | 1000%(F) (D) | 18/04/2025 - 24/04/2025 |
| October 28, 2024 12:37 PM | 30/09/2024(IIIQ) | 1000%(iii) (D) | 06/11/2024 - 07/11/2024 |
| August 23, 2024 5:05 PM | 30/06/2024(HYR) | 1000%(ii) (D) | 06/09/2024 - 07/09/2024 |
| April 24, 2024 12:22 PM | 31/03/2024(IQ) | 750%(i) (D) | 07/05/2024 - 09/05/2024 |
| February 29, 2024 2:55 PM | 31/12/2023(YR) | 1000%(F) (D) | 16/04/2024 - 22/04/2024 |
| October 20, 2023 3:47 PM | 30/09/2023(IIIQ) | 1000%(iii) (D) | 01/11/2023 - 03/11/2023 |
| August 18, 2023 4:11 PM | 30/06/2023(HYR) | 750%(ii) (D) | 30/08/2023 - 31/08/2023 |









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