Quality Industrial Corp
qualityindustrialcorp.comWhat Do They Do?
Designs, installs and maintains liquefied petroleum gas systems, and supplies the fuel to residential, commercial and industrial customers.
10-K for FY2025, filed Mar 31, 2026Quality Industrial Corp. (“QIND,” “the Company,” “we,” “us,” or “our”) is an industrial company specializing in the energy sector. Through…View ↗
Al Shola Gas specializes in the design, implementation, and maintenance of various LPG pipeline networks for commercial and industrial…View ↗
Al Shola Gas serves residential, mixed-use, commercial, and selected industrial customers across the United Arab Emirates (“UAE”), with a…View ↗
How Do They Make Money?
Customers pay for LPG systems and related design, installation and maintenance services, as well as LPG supplied in bulk or cylinders; the company earns revenue when those goods or services are delivered.
10-K for FY2025, filed Mar 31, 2026
$16.3M
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10-K for FY2025, filed Mar 31, 2026
$16.3M ↗
Who Are Their Customers?
Property developers, owners’ associations and facilities managers use gas systems and metered supply for residential complexes; food and beverage outlets and retail tenants also use metered gas. The company serves residential, mixed-use, commercial and selected industrial customers across the UAE.
10-K for FY2025, filed Mar 31, 2026
Do Revenues Turn Into Profits?
No. It lost $5.4M in FY2025.
10-K for FY2025, filed Mar 31, 2026
−$456.8KView ↗
10-K for FY2025, filed Mar 31, 2026
−$5.4MView ↗
10-K for FY2025, filed Mar 31, 2026
−$2.9MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 13, 2026
−$32.3KView ↗
- ▼ −84% (Loss)
- vs −$195.9K in Q2 FY2025
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Apr 23, 2026
John-Paul Backwell resigned as CEO; Carsten Kjems Falk was appointed
Backwell remained a director, and Falk continued as CFO and director.
Sources
8-K, filed Apr 23, 2026
On April 20, 2026, John-Paul Backwell resigned from his position as Chief Executive Officer of Quality Industrial Corp., a Nevada…View ↗
Growing.
Revenue grew 46% in 1 year, from $11.2M in FY2024 to $16.3M in FY2025, about 46% a year.
10-K for FY2025, filed Mar 31, 2026
From industrial manufacturing to LPG
The older report described a planned industrial equipment and process-manufacturing business serving sectors such as oil, gas, power and water. The latest report centers on LPG system design, installation, maintenance and supply through Al Shola Gas.
10-K for FY2022, filed Mar 31, 2023 10-K for FY2025, filed Mar 31, 2026Quality Industrial Corp. (“QIND,” “the Company,” “we,” “us,” or “our”) is an industrial company specializing in the energy sector. Through…View ↗
Who Do They Compete With?
Competes with Royal Development for Gas Works, Al Fanar Gas, and Lahej & Sultan
10-K for FY2025, filed Mar 31, 2026Al Shola Gas’s competitors are primarily UAE-based companies that specialize in gas distribution systems, such as Royal Development for Gas…View ↗
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