⏸️ BELA: HOLD Signal (5/10) – BELA | Bela Automotives Limited FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30, 2025

📌 Key Takeaways

• ⚠️ Bela Automotives reported a gross loss of PKR 4.68 million for FY2025, improving from a loss of PKR 5.60 million in FY2024.
• 📉 Loss from operations decreased to PKR 16.51 million in FY2025 from PKR 19.23 million in FY2024.
• ⛔ No cash dividend, bonus shares, or right shares were recommended for the fiscal year.
• 💸 Finance costs remained stable at approximately PKR 8.0 million year-over-year.
• 📉 Basic loss per share improved slightly from PKR 4.70 to PKR 4.23.
• 🏢 Total equity decreased from PKR 96.98 million in 2024 to PKR 72.46 million in 2025.
• Liabilities: Non-current liabilities increased slightly to PKR 2.12 million from PKR 2.05 million.
• Liabilities: Current liabilities increased to PKR 155.93 million in 2025 from PKR 142.44 million in 2024.
• Assets: Non-current assets decreased to PKR 151.18 million from PKR 153.42 million.
• Assets: Current assets decreased to PKR 79.33 million from PKR 88.05 million.
• Revaluation impact: There was a transfer of PKR 1.46 million from surplus on revaluation of property, plant & equipment.
• 🗓️ The Annual General Meeting is scheduled for October 28, 2025.
• Share capital remains unchanged at PKR 58 million.

🎯 Investment Thesis

Based on the current financial results, a HOLD recommendation is appropriate. While there are some signs of improvement in reducing losses, the company’s overall financial health remains weak. Investors should closely monitor the company’s ability to turn a profit, manage its debt, and improve its equity position before considering a BUY rating. Further positive results would need to be demonstrated before reconsidering a positive investment stance.