⚡ Flash Summary

Mughal Iron & Steel Industries Limited announced a book closure for its Sukuk Certificates-I to determine the entitlement of sukuk holders for the 19th rental and 15th principal payment. The transfer books will be closed from November 26, 2025, to December 2, 2025. Payments are scheduled for December 2, 2025, and sukuk holders are requested to update their International Bank Account Number (IBAN) details by November 25, 2025. Profit on investment in Sukuks is subject to income tax deduction as per the Income Tax Ordinance, 2001.

📌 Key Takeaways

• 📅 Sukuk Certificate-I book closure announced by Mughal Iron & Steel Industries Limited.
• 🗓️ Book closure period: November 26, 2025, to December 2, 2025 (inclusive).
• 💰 Purpose: Determining sukuk holder entitlement for 19th rental and 15th principal payment.
• 💸 Payment date: Due on Tuesday, December 2, 2025.
• 🏦 Sukuk holders must update their IBAN details by November 25, 2025.
• 🏢 Share Registrar: M/S THK Associates (Private) Limited.
• 📍 Share Registrar Address: 32-C, Jami Commercial Street 2, D.H.A Phase VII, Karachi.
• 🧾 CDS Transaction IDs received by the Share Registrar by November 25, 2025, will be processed for payment.
• 💼 Profit on Sukuk investment is subject to income tax deduction under Section 151 of the Income Tax Ordinance, 2001.
• ⚠️ Sukuk holders must provide valid Income Tax Exemption Certificates to the Share Registrar.
• ✉️ Contact email for company secretary: fahadhafeez@mughalsteel.com
• 🌐 Company Website: www.mughalsteel.com
• 🏢 Registered Office: 31-A, Shadman -1, Lahore.
• 🏭 Works Location: 17- K.M, Sheikhupura Road, Sheikhupura.

🎯 Investment Thesis

HOLD. The announcement is administrative and doesn’t significantly alter the investment thesis. Monitor the company’s ability to meet Sukuk obligations and broader financial performance to determine future creditworthiness and growth prospects. A hold rating is appropriate given the lack of material impact from the announcement itself. Price target is unchanged at PKR 50 with a 12-month horizon.