⚡ Flash Summary

Calcorp Limited reported its financial results for the first quarter ended September 30, 2025. The company experienced a loss before and after taxation of PKR 1,052,316 compared to a profit of PKR 6,159,815 in the same quarter last year. Consequently, the company reported a loss per share of PKR 0.10, a stark contrast to the earnings per share of PKR 0.38 in the corresponding period of 2024. The financial statements indicate a downturn in profitability, driven by a decrease in operating performance.

📌 Key Takeaways

• 📉 Calcorp reported a loss before taxation of PKR 1,052,316 for Q1 2025, compared to a profit of PKR 6,159,815 in Q1 2024.
• 📉 The company’s loss per share is PKR 0.10 for Q1 2025 versus earnings per share of PKR 0.38 for Q1 2024.
• 💰 Cash and bank balances decreased from PKR 312,570,726 as of June 30, 2025, to PKR 312,093,750 as of September 30, 2025.
• 🚫 The company did not declare any cash dividend, bonus shares, or right shares for the quarter.
• 📉 Total comprehensive loss for the period is PKR 1,052,316 compared to a total comprehensive income of PKR 4,049,755 in the same quarter last year.
• ⚠️ Operating expenses remained significant at PKR 1,052,316.
• 📉 Cash flow from operations resulted in an outflow of PKR 476,861 compared to an inflow of PKR 14,550,678 in the prior year.
• 📉 Net decrease in cash and cash equivalents amounted to PKR 476,976.

🎯 Investment Thesis

SELL. The company’s financial performance has declined significantly, as indicated by its swing to a loss and negative cash flows. The absence of dividends and operational inefficiencies increase the risks associated with investing in Calcorp. Based on current trends, a price target reflecting the negative performance is warranted with a short-term horizon.