Results Snapshot
Figures in Million
Consolidate Annual Results
Dec'25
Dec'24
Dec'23
Dec'22
Dec'21
Dec'20
Dec'19
Net Sales
354.65
344.19
331.62
278.49
245.57
248.68
245.60
Other Operating Income
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Total Operating income
354.65
344.19
331.62
278.49
245.57
248.68
245.60
Raw Material Cost
185.75
182.29
170.72
143.85
128.01
125.69
124.64
Purchase of Finished goods
0.00
0.00
0.00
0.00
0.00
0.00
0.00
(Increase) / Decrease In Stocks
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Employee Cost
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Power Cost
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Manufacturing Expenses
79.39
70.72
64.83
53.33
49.44
51.96
52.49
Selling and Distribution Expenses
2.40
2.66
2.64
2.78
2.45
2.70
2.44
Other Expenses
-7.63
-3.05
-9.16
-8.13
-1.87
-9.76
-2.84
Total Expenditure (Excl Depreciation)
191.29
225.17
146.62
118.69
161.23
82.75
151.16
Operating Profit (PBDIT) excl Other Income
163.4
119
185
159.8
84.3
165.9
94.39999999999999
Other Income
-7.03
-10.86
-12.12
-8.49
-11.98
-11.84
-11.11
Operating Profit (PBDIT)
156.33
108.16
172.88
151.31
72.36
154.10
83.33
Interest
79.39
70.72
64.83
53.33
49.44
51.96
52.49
Exceptional Items
37.83
60.12
79.95
208.09
284.89
72.24
55.42
Gross Profit (PBDT)
168.90
161.90
160.90
134.64
117.55
123.00
120.95
Depreciation
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Profit Before Tax
114.77
97.56
187.99
306.08
307.80
174.38
86.26
Tax
10.84
13.28
8.08
70.34
65.52
-2.29
6.22
Provisions and contingencies
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Profit After Tax
102.97
101.86
176.34
219.28
242.09
175.22
76.81
Extraordinary Items
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Prior Period Expenses
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Other Adjustments
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Net Profit
102.97
101.86
176.34
219.28
242.09
175.22
76.81
Share in Profit of Associates
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Minority Interest
8.57
-2.46
8.95
20.28
2.89
-8.41
3.31
Other related items
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Consolidated Net Profit
111.53
99.40
185.28
239.56
244.97
166.81
80.13
Equity Capital
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Face Value
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Reserves
1,994.58
2,001.34
1,852.78
1,753.47
1,484.74
1,270.13
1,136.36
Earnings per share (EPS)
1.88
1.8
3.01
3.62
4.0
2.9
1.42
Diluted Earnings per share
1.88
1.8
3.01
3.62
4.0
2.9
1.42
Operating Profit Margin (Excl OI)
46.06%
34.58%
55.79%
57.38%
34.34%
66.73%
38.45%
Gross Profit Margin
32.36%
28.35%
56.69%
109.91%
125.34%
70.12%
35.12%
PAT Margin
29.03%
29.59%
53.17%
78.74%
98.58%
70.46%
31.28%
Public Share Holdings (%)
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Pledged Promotor Holding (%)
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Annual Analysis Highlights
Net Sales
YoY Growth in year ended Dec 2025 is 3.02% vs 3.80% in Dec 2024
Consolidate Net Profit
YoY Growth in year ended Dec 2025 is 12.17% vs -46.36% in Dec 2024
Operating Profit (PBDIT) excl Other Income
YoY Growth in year ended Dec 2025 is 37.31% vs -35.68% in Dec 2024
Interest
YoY Growth in year ended Dec 2025 is 12.31% vs 9.10% in Dec 2024
Operating Profit Margin (Excl OI)
YoY Growth in year ended Dec 2025 has improved from Dec 2024
Compare Annual Results Of Morguard North American Residential REIT With
Figures in Million
Consolidate Annual Results
Change(CAD)
Change(%)
Net Sales
354.65
201.52
153.13
75.99%
Other Operating Income
0.00
0.00
0.00
Total Operating income
354.65
201.52
153.13
75.99%
Raw Material Cost
185.75
101.54
84.21
82.93%
Purchase of Finished goods
0
0
0.00
(Increase) / Decrease In Stocks
0
0
0.00
Employee Cost
0.00
0.95
-0.95
-100.00%
Power Cost
0
0
0.00
Manufacturing Expenses
79.39
54.82
24.57
44.82%
Selling and Distribution Expenses
2.40
11.40
-9.00
-78.95%
Other Expenses
-7.63
3.73
-11.36
-304.56%
Total Expenditure (Excl Depreciation)
191.29
205.96
-14.67
-7.12%
Operating Profit (PBDIT) excl Other Income
163.36
-4.44
167.80
3,779.28%
Other Income
-7.03
-11.68
4.65
39.81%
Operating Profit (PBDIT)
156.33
-16.06
172.39
1,073.41%
Interest
79.39
54.82
24.57
44.82%
Exceptional Items
37.83
-16.71
54.54
326.39%
Gross Profit (PBDT)
168.90
99.93
68.97
69.02%
Depreciation
0.00
0.06
-0.06
-100.00%
Profit Before Tax
114.77
-87.65
202.42
230.94%
Tax
10.84
0.00
10.84
Provisions and contingencies
0
0
0.00
Profit After Tax
102.97
-87.65
190.62
217.48%
Extraordinary Items
0.00
0.00
0.00
Prior Period Expenses
0
0
0.00
Other Adjustments
0
0
0.00
Net Profit
102.97
-87.65
190.62
217.48%
Share in Profit of Associates
0
0
0.00
Minority Interest
8.57
0.00
8.57
Other related items
0.00
0.00
0.00
Consolidated Net Profit
111.53
-87.65
199.18
227.24%
Equity Capital
0
0
0.00
Face Value
0.00
0.00
0.00
Reserves
1,994.58
797.73
1,196.85
150.03%
Earnings per share (EPS)
1.88
-2.00
3.88
194.00%
Diluted Earnings per share
1.88
-2.00
3.88
194.00%
Operating Profit Margin (Excl OI)
46.06%
-2.20%
0.00
48.26%
Gross Profit Margin
32.36%
-43.46%
0.00
75.82%
PAT Margin
29.03%
-43.49%
0.00
72.52%
Public Share Holdings (%)
0%
0%
0.00
0.00%
Pledged Promotor Holding (%)
0%
0%
0.00
0.00%
Annual - Net Sales
Net Sales 35.46 Million
in Dec 2025Figures in Million
YoY Growth in year ended Dec 2025 is 3.02% vs 3.80% in Dec 2024
Annual - Consolidate Net Profit
Consolidate Net Profit 11.15 Million
in Dec 2025Figures in Million
YoY Growth in year ended Dec 2025 is 12.17% vs -46.36% in Dec 2024
Annual - Operating Profit (PBDIT)
Operating Profit (PBDIT) 16.34 Million
in Dec 2025Figures in Million
YoY Growth in year ended Dec 2025 is 37.31% vs -35.68% in Dec 2024
Annual - Interest
Interest 7.94 Million
in Dec 2025Figures in Million
YoY Growth in year ended Dec 2025 is 12.31% vs 9.10% in Dec 2024
Annual - Operating Profit Margin (Excl OI)
Operating Profit Margin (Excl OI) 46.06%
in Dec 2025Figures in %
YoY Growth in year ended Dec 2025 has improved from Dec 2024






