Macter International Limited
By PSX Investors Zone · Updated October 27, 2026
Macter International Limited (PSX: MACTER) is a Pakistani pharmaceutical manufacturer that develops, manufactures, and markets pharmaceutical formulations, biological products, and consumer healthcare products. The company also provides contract manufacturing services for pharmaceutical partners. In FY2026, standalone revenue increased 18.3% to Rs 11.73 billion, but profit after taxation declined 5.3% to Rs 698.25 million, with EPS of Rs 15.24. In the quarter ended 30 September 2026, revenue increased 11.6% year over year, while reported profit after taxation declined 36.6% to approximately Rs 99.10 million. Investors should also review rising operating expenses, tax and finance costs, and the PSX warning concerning continuous regulatory violations and possible suspension or delisting.
Company Overview
Macter International Limited (PSX: MACTER) is a Pakistani pharmaceutical company engaged in the manufacture and marketing of pharmaceutical products. The company was incorporated in Pakistan in 1992 as a private limited company and converted into a public limited company in 2011.
Headquartered at F-216, S.I.T.E., Karachi, Macter operates in the pharmaceutical and healthcare manufacturing sector. Its activities include pharmaceutical formulations, biological products, consumer healthcare products, and contract manufacturing services.
The company serves the healthcare market through its product portfolio and manufacturing capabilities. Its financial performance is influenced by product demand, medicine pricing, raw-material availability, manufacturing costs, regulatory requirements, distribution expenses, and competition.
Official resources:
What Does Macter International Limited Do?
Macter develops, manufactures, and markets pharmaceutical products for healthcare use. Its official website describes capabilities spanning conventional pharmaceutical formulations, biological medicines, consumer products, and contract manufacturing for business partners.
Its main business areas include:
- Pharmaceutical formulations: Tablets, capsules, syrups, suspensions, dry powders, injections, ointments, creams, drops, and inhalers.
- Biological products: Manufacturing capabilities for selected biotech and biological medicines.
- Consumer healthcare: Products designed for consumer healthcare markets.
- Contract manufacturing: Manufacturing services for pharmaceutical companies and commercial partners.
- Technical and plant operations: Production, filling, processing, and packaging services across different dosage forms.
The company's manufacturing capabilities may provide opportunities to serve both its own product portfolio and third-party customers. However, product demand, capacity utilisation, compliance requirements, customer relationships, and production costs influence the financial return from these activities.
Source: Macter official website.
Company Background and Market Position
Macter has more than four decades of pharmaceutical-industry experience, according to its official corporate website. The company highlights its pharmaceutical manufacturing, contract manufacturing, and biological-product capabilities.
The pharmaceutical sector can benefit from ongoing healthcare needs, but manufacturers must also manage regulatory compliance, quality assurance, pricing constraints, distribution expenses, and competition from local and international companies.
Investors should assess Macter's financial performance using its reported sales, margins, cash flows, working-capital requirements, and investment in manufacturing facilities rather than relying solely on company descriptions or market positioning.
FY2026 Financial Performance
For the financial year ended 30 June 2026, Macter reported growth in standalone revenue and gross profit, while standalone profit after taxation declined.
Standalone financial results
| Financial Metric | FY2026 | FY2025 |
|---|---|---|
| Revenue | Rs 11,731.856 million | Rs 9,914.318 million |
| Cost of sales | Rs 6,071.415 million | Rs 5,456.540 million |
| Gross profit | Rs 5,660.441 million | Rs 4,457.778 million |
| Operating profit | Rs 1,381.524 million | Rs 1,234.466 million |
| Profit before taxation | Rs 1,251.441 million | Rs 1,132.121 million |
| Profit after taxation | Rs 698.254 million | Rs 737.534 million |
| Earnings per share (EPS) | Rs 15.24 | Rs 16.10 |
| Cash dividend proposed | Nil | Check prior-year payout record separately |
Source: FY2026 results announcement summary and PSX company profile.
Consolidated financial results
The consolidated group results differ from the standalone parent-company results.
| Financial Metric | FY2026 | FY2025 |
|---|---|---|
| Consolidated revenue | Rs 12,169.098 million | Rs 10,359.936 million |
| Consolidated gross profit | Rs 5,919.916 million | Rs 4,726.917 million |
| Consolidated profit after taxation | Rs 675.173 million | Rs 786.933 million |
| Profit attributable to holding-company shareholders | Rs 679.420 million | Rs 776.429 million |
| Consolidated EPS | Rs 14.83 | Rs 16.95 |
Source: FY2026 financial results summary.
What Do the FY2026 Results Mean?
Standalone revenue increased by approximately 18.3% year over year, while gross profit rose by approximately 27.0%. The gross-profit margin improved from approximately 45.0% to 48.3%.
However, higher selling and distribution expenses, administrative expenses, finance costs, and taxation reduced the benefit of the gross-profit improvement. Standalone profit after taxation declined by approximately 5.3%, from Rs 737.53 million to Rs 698.25 million.
The effective tax burden also increased in the reported results, contributing to the difference between operating performance and net earnings. This shows why revenue growth alone does not guarantee higher profit for shareholders.
The standalone and consolidated figures should not be mixed in year-over-year comparisons. Consolidated results include the relevant subsidiaries, while standalone results reflect the parent company's own financial statements.
Latest Quarterly Results: Quarter Ended 30 September 2026
Macter published results for the quarter ended 30 September 2026, the first quarter of its FY2027 financial year.
| Financial Metric | Q1 FY2027 | Year-over-year change |
|---|---|---|
| Revenue | Rs 3,092.953 million | +11.6% |
| Gross profit | Rs 1,406.21 million | +13.5% |
| Operating profit | Rs 208.49 million | -26.0% |
| Profit after taxation | Rs 99.096 million | -36.6% |
| Earnings per share (EPS) | Rs 2.16 | -36.8% |
| Cash dividend announced with results | Nil | — |
Source: September 2026 quarterly results summary and PSX MACTER profile.
How Should Investors Interpret the Quarterly Results?
Revenue and gross profit increased compared with the corresponding quarter, but operating profit, net profit, and EPS declined.
The divergence suggests that expenses below gross profit absorbed the benefit of higher sales and gross profit. Investors should review the original quarterly financial statements for selling and distribution expenses, administrative expenses, finance costs, taxation, and any non-recurring items.
The quarter's results should also be considered alongside the FY2026 annual performance and future quarterly trends. One quarter does not establish a long-term earnings trajectory.
Dividend History and Shareholder Returns
For FY2026, the board did not recommend a cash dividend, bonus shares, or right shares in the published annual-results announcement.
The September 2026 quarterly results announcement also reported no cash dividend, bonus shares, or right shares with that results announcement.
Investors who focus on dividend income should not assume that profit growth will automatically lead to a payout. Dividend decisions depend on the board's recommendation, earnings, liquidity, working-capital requirements, investment plans, and other financial obligations.
For the latest dividend declarations, book-closure dates, and payment details, check the official PSX company profile.
Important PSX Regulatory Warning
The PSX company profile displays a Risk Warning Alert stating that Macter International Limited is in continuous violation of specified PSX regulations and carries a risk of suspension of trading or delisting from the Exchange, subject to the applicable terms and conditions.
This warning is material information for anyone researching MACTER shares. It should be considered separately from the company's revenue, profit, and EPS figures.
Investors should:
- Read the latest official PSX notice to identify the regulatory clauses and requirements involved.
- Check for company responses, corrective actions, or subsequent exchange updates.
- Confirm whether the warning remains active before making investment decisions.
- Avoid assuming that trading has already been suspended or that delisting has occurred unless an official announcement confirms it.
The existence of the warning does not by itself establish that the shares have already been suspended or delisted. The latest status should be checked directly with the exchange.
Official source: PSX MACTER company profile.
Factors That May Affect MACTER Shares
1. Pharmaceutical demand
Demand for medicines and healthcare products can influence sales volumes, product mix, and manufacturing utilisation.
2. Raw-material costs
Active pharmaceutical ingredients, excipients, packaging materials, and other manufacturing inputs can affect production costs. Dependence on imported inputs may also expose the company to exchange-rate and supply-chain changes.
3. Product pricing and regulation
Pharmaceutical prices, registration requirements, product approvals, quality standards, and other regulatory decisions can influence revenue and operating costs.
4. Selling and distribution expenses
The FY2026 results show that selling and distribution expenses increased faster than revenue. The sustainability of this cost trend is important because distribution, marketing, and promotion can significantly affect net profitability.
5. Administrative expenses and finance costs
Higher overheads and borrowing costs may reduce the benefit of increased gross profit. Investors should monitor these expenses relative to sales and operating profit.
6. Taxation
Changes in tax provisions and the effective tax rate can materially affect earnings after taxation, even when operating profit increases.
7. Contract manufacturing and biological products
Contract manufacturing and biological-product capabilities may provide growth opportunities, but returns depend on customer demand, manufacturing utilisation, regulatory compliance, investment costs, and successful commercial execution.
8. Working capital and liquidity
Pharmaceutical manufacturing requires inventory, production inputs, customer credit, and distribution funding. Receivable collection periods, inventory levels, supplier terms, and short-term borrowings can affect cash availability.
9. Regulatory and listing status
The PSX's displayed continuous-violation warning is an important company-specific risk. Investors should track official notices and any confirmed change in listing status.
10. Broader market conditions
Interest rates, inflation, currency movements, investor sentiment, and overall PSX market trends can influence MACTER's share price independently of its operating performance.
Key Risks for Investors
Before investing in MACTER, investors should consider:
- Regulatory risk: The PSX displays a warning concerning continuous violations and possible suspension or delisting.
- Profitability risk: FY2026 revenue increased, but standalone and consolidated net profit declined.
- Expense risk: Selling, distribution, and administrative expenses increased significantly during FY2026.
- Tax risk: Higher taxation reduced the amount of profit retained after tax.
- Input-cost risk: Imported ingredients, packaging materials, and currency fluctuations can affect margins.
- Working-capital risk: Inventory, customer receivables, and supplier-payment requirements may affect liquidity.
- Competition risk: Local and international pharmaceutical manufacturers compete on price, quality, product availability, and distribution.
- Dividend risk: No dividend was recommended for FY2026.
- Execution risk: Manufacturing investments and expansion into specialised products may not deliver the expected returns on schedule.
These are factors for independent research, not predictions of future performance or share prices.
How to Research Macter International Limited on PSX
Investors researching MACTER should review:
- Annual and quarterly financial statements.
- Standalone and consolidated revenue, profit, and EPS.
- Gross-profit and operating-profit margins.
- Selling, distribution, and administrative expenses.
- Finance costs and tax provisions.
- Operating cash flow, inventory, and customer receivables.
- Borrowings, liquidity, and working-capital requirements.
- Dividend declarations and shareholder entitlements.
- Manufacturing investments and biological-product developments.
- Current share price, trading volume, and valuation ratios.
- The latest PSX regulatory notices and listing-status updates.
Official resources:
Frequently Asked Questions
What is the PSX symbol of Macter International Limited?
Macter International Limited trades on the Pakistan Stock Exchange under the symbol MACTER.
What does Macter International Limited do?
The company manufactures and markets pharmaceutical products, biological medicines, and consumer healthcare products. It also offers contract manufacturing services.
When was Macter International Limited incorporated?
Macter was incorporated as a private limited company in 1992 and converted into a public limited company in 2011.
Where is Macter International Limited headquartered?
Its head office is located at F-216, S.I.T.E., Karachi, Pakistan.
Was Macter profitable in FY2026?
Yes. The company reported standalone profit after taxation of Rs 698.254 million and standalone EPS of Rs 15.24. Consolidated profit attributable to holding-company shareholders was Rs 679.420 million, with consolidated EPS of Rs 14.83.
Did Macter announce a dividend for FY2026?
No. The board did not recommend a cash dividend, bonus shares, or right shares for FY2026 in the published annual-results announcement.
What were Macter's latest quarterly results?
For the quarter ended 30 September 2026, reported revenue was approximately Rs 3.093 billion and profit after taxation was approximately Rs 99.10 million, with EPS of Rs 2.16. Revenue rose year over year, while net profit and EPS declined.
Is Macter International Limited at risk of suspension or delisting?
The PSX company profile displays a warning about continuous regulatory violations and possible suspension or delisting. Investors should check the latest official exchange notices to confirm the specific requirements and current status.
What are the main risks of investing in MACTER?
Important risks include regulatory compliance, rising selling and distribution expenses, taxation, input costs, working-capital requirements, competition, and weaker net-profit performance despite revenue growth.
Where can investors find official MACTER financial reports?
Visit the official PSX MACTER profile or the company's financial reports page.
Disclaimer
This profile is for educational and informational purposes only. It does not constitute investment advice or a recommendation to buy or sell MACTER shares. Financial figures should be verified against the original company filings. The PSX regulatory warning is particularly important and should be checked against the latest official notice before publication or investment decisions. Investors should conduct independent research and consider their financial objectives and risk tolerance.
This profile is for educational purposes and is not a recommendation to buy or sell any security.