⚡ Flash Summary

Pervez Ahmed Consultancy Services Limited (PASL) reported its corporate briefing presentation, highlighting key financial figures. The company’s financial performance shows a fluctuating profit/loss trend over the past years, with significant impacts from changes in the fair value of investments and share of profit from associated undertakings. In 2025, the company reported a profit after taxation of PKR 8,084,078, a substantial improvement compared to the loss of PKR 2,104,694 in 2020. However, the company’s net assets reflect a negative value, indicating potential solvency concerns.

📌 Key Takeaways

• 📈 Operating revenue remained at PKR 0 in 2025, similar to 2024.
• 📉 Administrative expenses were PKR 1,882,363 in 2025, compared to PKR 1,484,814 in 2024.
• ⚠️ Operating loss stood at PKR 1,882,363 in 2025, compared to PKR 1,484,814 in 2024.
• 📊 Changes in fair value of long-term investments: PKR 254,250 in 2025 vs. PKR 339,600 in 2024.
• 💹 Changes in fair value of short-term investments: PKR 354,706 in 2025 vs. (PKR 261,525) in 2024.
• 🤝 Share of profit from associated undertakings increased significantly to PKR 9,357,485 in 2025 from PKR 3,149,922 in 2024.
• ✔️ Profit before taxation was PKR 8,084,078 in 2025, a notable increase from PKR 1,158,555 in 2024.
• ✔️ Profit after taxation was PKR 8,084,078 in 2025, compared to PKR 1,158,555 in 2024.
• 💰 Earning per share was PKR 0.043 in 2025, up from PKR 0.006 in 2024.
• ⚠️ Total assets decreased to PKR 96,216,958 in 2025 from PKR 86,225,989 in 2024.
• ⚠️ Shareholders’ equity remains negative at (PKR 574,816,290) in 2025, a slight improvement from (PKR 582,900,368) in 2024.
• ⚠️ Current ratio slightly improved to 0.0067:1 in 2025 from 0.0061:1 in 2024.

🎯 Investment Thesis

Given the mixed financial performance, negative equity, and low current ratio, a HOLD recommendation is appropriate for PASL. While profitability has improved, the underlying financial stability remains a concern. A price target cannot be accurately determined without a more in-depth valuation based on sector comparisons and future prospects. The time horizon is medium-term, pending significant improvements in financial stability and consistent revenue generation.