⚡ Flash Summary

Siddiqsons Tin Plate Limited (STPL) reported financial results for the year ended June 30, 2025, revealing a concerning net loss of PKR 255.12 million, a sharp decline from the PKR 2,058.50 million loss in the previous year. The company did not recommend any cash dividend, bonus shares, or right shares. Revenue decreased significantly from PKR 4,075.58 million to PKR 2,023.04 million year-over-year. The annual general meeting is scheduled for November 27, 2025.

📌 Key Takeaways

• ❌ STPL reports a net loss of PKR 255.12 million for FY2025, improving from a PKR 2,058.50 million loss in FY2024.
• 📉 Revenue declined drastically from PKR 4,075.58 million to PKR 2,023.04 million year-over-year.
• ⛔ No cash dividend, bonus shares, or right shares were recommended by the Board.
• 🗓️ The Annual General Meeting will be held on November 27, 2025.
• 📉 Gross profit decreased from a loss of PKR 55.47 million to a profit of PKR 221.78 million.
• ⚠️ Loss per share significantly decreased from (8.98) to (1.11).
• 📉 Total assets increased slightly from PKR 4,438.52 million to PKR 4,451.33 million.
• 🔻Trade debts increased substantially from PKR 38.16 million to PKR 194.01 million, potentially indicating collection issues.
• 💸 Operating cash flows improved from negative PKR 995.88 million to positive PKR 117.64 million.
• 📉 Long-term finances decreased from PKR 142.20 million to PKR 45.62 million.
• 💰 Shareholder equity decreased from PKR 1,162.58 million to PKR 907.46 million due to accumulated losses.
• 👍🏼 Trade and other payables increased from PKR 1,019.15 million to PKR 1,081.93 million.
• 📉 Cash and cash equivalents declined from negative PKR 500.09 million to negative PKR 573.13 million.

🎯 Investment Thesis

Based on the declining revenue, continued losses, and weak financial position, a SELL recommendation is appropriate. STPL faces significant challenges, and the lack of dividends further diminishes its appeal. A price target of PKR 1.00 is set, with a time horizon of 6 months, reflecting the potential for continued losses and limited recovery prospects.