Highlights:
Record gross profit of PKR 2,204 million
Profit before tax of PKR 2,414 million
Net profit reaches PKR 1,524 million
Total dividend of PKR 11.50 per share, i.e., 115%
Karachi, 31 July 2025 – Security Papers Limited (SPL) has announced its financial results for the
year ended June 30, 2025, with record sales and profits. The company earned a profit before tax of
PKR 2,414 million, reflecting its sustained growth, solid strategy, and efficient operations.
SPL achieved a gross profit of PKR 2,204 million, an 8% increase from last year driven by a strong
demand for its specialized security paper products, especially banknote paper. The increase in profit
before tax is the result of optimized operations and better cost management.
Net profit climbed to PKR 1,524 million. The Board approved a final cash dividend of PKR 9.0 per
share (90%), in addition to an interim dividend of PKR 2.50 per share (25%), bringing the total to
PKR 11.50 per share (115%). The Board of Directors have also approved the budget of the Company
for the FY-2025-26.
SPL Chairman Mr. Aftab Manzoor expressed confidence in the company’s continued growth, saying,
"This year’s performance reflects the unwavering dedication and vision of our team, as well as our
focus on innovation, operational excellence, and long-term value creation. We remain committed to
delivering consistent growth and exceeding the expectations of our stakeholders.”
Over the past year, SPL has remained focused on upgrading its manufacturing facilities and
optimizing processes through the integration of advanced technologies. As part of its commitment to
achieve sustainable growth, the Company is working on projects aimed at generating electricity
through renewable energy sources and recycling wastewater. These efforts were recently recognized
at the 22nd Annual Environment Excellence Award 2025, acknowledging the company’s adoption of
environmentally responsible practices.
Earlier this year, SPL awarded a contract to Giesecke+Devrient (G+D), a global leader in security
technology, to modernize its paper machine PM-2. This upgrade will enable SPL to integrate
advanced security features into the expected new banknote series announced by the State Bank of
Pakistan.
About Security Papers Limited:
Security Papers Limited (SPL) was established in 1965. It became a joint venture company of Iran, Turkey and Pakistan in
1967, under the protocol of RCD – now ECO – in 1967. The basic function of the Company was and still is; to manufacture
banknote and other security paper.Brief history of the Security Papers Limited is as under:
Incorporation of the Company (as a private Company) 1965
Signing of contract for the supply of Paper Machine-1 (PM-1) with Mills-Paugh, U. K. 1966
Conversion into Public Company 1967
Listing on the Karachi Stock Exchange 1967
Start of commercial production of PM-1 1969
Signing of contract for supply of Paper Machine-2 (PM-2) with Voith Paper, Germany 2001
Commissioning of PM-2 2003
Formal inauguration of PM-2 by the Prime Minister 2004
Commissioning of Co-Generation Power Plant 2009
Modification and upgrading of plant 2011
Commissioning of new Mould Cover Manufacturing Facility 2012
Commissioning of Dry Cleaning Plant 2014
Commissioning of Thread Unwind System 2015
Production of Passport Paper 2016
Installation of Breaker and Beater Assemblies and Stainless Steel Chests 2018
PM-2 Capacity Enhancement through in-house development of Short Former 2019
Upgrade Fire Alarm System, new Fire Hydrant and Sprinkler System 2021
Production and delivery of Ballot Paper, Commemorative Banknote of Rs 75. 2023
Security Papers Ltd. manufactures Banknote Paper and other security documents from 100% indigenous raw materials of
the highest quality. It has successfully been meeting the paper requirements of the Pakistan Security Printing Corporation
(PSPC) for printing Banknotes, Prize Bonds, Non-judicial Stamp Paper, Share Certificates, Watermarked Certificate/ degree
papers for various educational institutions of Pakistan and Ballot Paper.
