⚡ Flash Summary

Pakgen Power Limited’s financial results for the third quarter ended September 30, 2025, show a concerning net loss of PKR 296.093 million, a stark contrast to the profit of PKR 6,197.846 million in the same period last year. Revenue experienced a sharp decline, falling to PKR 925.405 million from PKR 10,806.198 million. This poor performance led to a loss per share of PKR 0.80, versus earnings per share of PKR 16.66 last year. The company did not declare any cash dividend, bonus shares, or any other entitlement.

📌 Key Takeaways

• 📉 Pakgen Power reported a net loss of PKR 296.093 million for the quarter ended September 30, 2025.
• 📉 This contrasts sharply with a profit of PKR 6,197.846 million in the same period last year.
• 📉 Revenue plummeted to PKR 925.405 million from PKR 10,806.198 million year-over-year.
• ⛔ Loss per share (LPS) stood at PKR 0.80, compared to earnings per share (EPS) of PKR 16.66 last year.
• ❌ No cash dividend was declared for the period.
• ❌ No bonus shares were announced.
• ❌ No right shares were announced.
• ❌ No other entitlement was announced.
• 🔻 Total Equity decreased to PKR 25,554.896 million from PKR 26,595.153 million at the end of 2024.
• ⚠️ Finance costs decreased from PKR 27.493 million to PKR 280 million.
• 💰 Cash and cash equivalents increased from PKR 6,726.329 million to PKR 22,038.065 million during the nine-month period.
• 🏭 Plant maintenance and preservation costs were PKR 1,649.333 million for the nine-month period.
• ⚠️ Taxation was a significant expense at PKR 311.335 million.
• 📉 Total comprehensive loss for the period was PKR 296.093 million.

🎯 Investment Thesis

Given the significant decline in revenue and the swing to a net loss, a SELL recommendation is appropriate. The lack of dividend further reduces the attractiveness of the stock. Price target: revise downward based on negative earnings. Time horizon: Medium Term.