⚡ Flash Summary

K-Electric Limited (KEL) has filed an appeal before the NEPRA Appellate Tribunal against a decision by NEPRA. Due to the Tribunal being non-functional, KEL has also filed Constitutional Petitions before the High Court of Sindh at Karachi. The High Court has granted interim orders stating that no coercive action should be taken against KEL until the next hearing date. This announcement informs stakeholders about the ongoing legal challenges and the temporary relief granted by the High Court, potentially impacting the company’s regulatory obligations and financial stability.

📌 Key Takeaways

• 📄 K-Electric (KEL) disclosed material information regarding ongoing legal challenges.
• ⚖️ KEL filed an appeal with the NEPRA Appellate Tribunal against a NEPRA decision.
• 📅 The NEPRA decision being appealed was dated October 20, 2025.
• 🏛️ Due to the Tribunal being non-functional, KEL also filed Constitutional Petitions.
• 📜 The Constitutional Petition numbers are D-5384/2025, D-5385/2025, D-5386/2025, and D-5387/2025.
• 📍 Petitions were filed before the High Court of Sindh at Karachi.
• ✅ The High Court granted interim orders on November 04, 2025.
• 🛡️ The interim orders prevent any coercive action against KEL based on the impugned decision.
• ⏳ The interim orders are effective until the next hearing date.
• 📢 The disclosure is in accordance with Sections 96 and 131 of the Securities Act, 2015.
• 📑 Compliance with Regulations 5.6.1(a) of the Rule Book of Pakistan Stock Exchange Limited.
• 🏢 KEL’s registered office is located at KE House, 39/B, Sunset Boulevard, Phase II, DHA, Karachi.
• 👤 Rizwan Pesnani, Chief Risk Officer & Company Secretary, is the contact person.

🎯 Investment Thesis

HOLD. The ongoing legal challenges introduce uncertainty regarding KEL’s future financial performance and regulatory compliance. While the interim order provides temporary relief, the final outcome of the legal proceedings remains uncertain. A more definitive outlook on KEL’s regulatory obligations and associated financial impacts is required before making a strong BUY or SELL recommendation. Price target: Dependent on the resolution of legal matters.