⚡ Flash Summary

AGP’s corporate briefing session presentation from November 25, 2025, highlights the company’s strong financial performance and strategic initiatives. The company reported revenue of PKR 20,342 million for the nine months ended September 2025, a 15.3% increase year-over-year. Gross profit increased by 23.2% to PKR 12,091 million, while net profit surged by 79.5% to PKR 2,853 million. AGP’s strategy includes focusing on chronic segment products and expanding into new export markets.

📌 Key Takeaways

• 📈 Revenue increased by 15.3% to PKR 20,342 million for 9M 2025.
• 💰 Gross Profit rose by 23.2% to PKR 12,091 million for 9M 2025.
• ✅ Net Profit surged by 79.5% to PKR 2,853 million for 9M 2025.
• 🌟 EBITDA increased by 22.9% to PKR 5,953 million for 9M 2025.
• 📊 AGP’s Unit Growth is 3.90% compared to the Industry’s -0.12%.
• 🎯 Focus on Chronic Segment Products, currently 19% of the portfolio.
• 🌍 Expansion into New Export Markets to hedge against PKR devaluation.
• 🏭 Three state-of-the-art cGMP-certified manufacturing plants.
• 🏅 Awarded 1st position in ‘Pharmaceutical Category’ at the Best Corporate & Sustainability Awards 2024.
• 🥈 Received the prestigious ‘Silver Award’ at the SAFA Awards 2025 in ‘Manufacturing Category’.
• 🤝 Maintained a robust corporate governance framework with well-defined policies.
• 🏢 Current Entity Rating by PACRA: Long-Term A+, Short-Term A1, Outlook Stable.
• 🌱 Inorganic growth contributes 52% of total growth.
• 👥 The company has 2,939 employees.
• 💊 AGP has 128 brands, comprising over 270 SKUs.

🎯 Investment Thesis

BUY. AGP demonstrates solid financial performance and has a clear growth strategy, with a focus on expanding into new markets and high-margin products. The company’s ability to drive organic and inorganic growth should translate to long-term shareholder value. Price Target: A 20% upside from the current market price, Time Horizon: 18-24 months. The company’s consistent efforts to improve its product portfolio and manufacturing capabilities make it an attractive investment.