Zaraye has raised $2.1 million in pre-seed with TIGER GLOBAL
Mughal Steel has been a leading company in Pakistan's iron and steel sector over the last 50 years.
Mughal Steel is a thriving and progressive steel mill because they have been able to transform rapidly to keep up with the competitive global economy. By using state-of-the-art technology Mughal Steel has been able to stay ahead in the construction industry and meet the demands of its customers.
Mughal Steel is involved in several things from making mild steel billets, spring steel, deformed bar, re-bar, cold twisted rebar, and a huge range of sections such as I.Beams, L.Sections, C.Section, H.Beam, T.Bar, etc.
Mughal Steel saw an increase in net income of 24% quarter-on-quarter (QoQ) to Rs. 1.041 billion, compared to Rs. 839 million. They posted a year-on-year (YoY) profit of Rs. 5.4 billion during FY22, up by 58 percent from Rs. 3.4 billion last year.
Along with the result, MUGHAL announced earnings per share (EPS) of Rs. 16.12 for the closed financial year, compared to Rs. 10.22 reported in FY21.