⚡ Flash Summary

At-Tahur Limited (PSX: PREMA) reported a Profit After Tax of Rs. 528.149 million and an EPS of Rs. 2.42 for the year ended June 30, 2025. Net Sales reached Rs. 5.655 billion, with a Gross Profit of Rs. 2,517.86 million, reflecting a 4.61% increase. The company’s mission is to manufacture and process world-class, pure, natural, and healthy dairy products. At-Tahur’s flagship PREMA brand, launched in 2008, has become a household name in Pakistan.

📌 Key Takeaways

• 📈 Revenue grew from Rs. 1.81 billion in 2020 to Rs. 5.655 billion in 2025.
• 💰 Profit After Tax reached Rs. 528.149 million.
• ⭐ EPS for 2025 stood at Rs. 2.42.
• 🥛 Gross Profit increased by 4.61% to Rs. 2,517.86 million.
• 🐄 Herd size is approximately 6000.
• 🏢 Book Value per share increased from PKR 14.91 in 2020 to PKR 25.88 in 2025.
• 📊 Operating Expense Ratio (OER) increased from 74.01% in 2020 to 76.02% in 2025.
• 💼 Administrative Expense Ratio (AER) decreased from 9.10% in 2020 to 6.33% in 2025.
• 🛒 Selling Expense Ratio (SER) decreased from 14.62% in 2020 to 11.49% in 2025.
• 🎗️ Gross Profit Margin decreased from 60.07% in 2022 to 44.53% in 2025.
• 📉 Debt to Equity Ratio decreased from 0.08 in 2020 to 0.11 in 2025.
• 🌱 Net Profit Margin to Sales decreased from 26.21% in 2022 to 9.34% in 2025.
• 👨‍💼 Number of employees increased from 490 in 2020 to 733 in 2025.
• 💸 Sales per employee increased from Rs. 3,697.01 in 2020 to Rs. 7,714.33 in 2025.

🎯 Investment Thesis

HOLD. While At-Tahur Limited demonstrates consistent revenue growth and strong brand recognition, the decreasing profit margins and Gross Profit Margin warrant caution. A thorough analysis of operational efficiency and cost management is required before making a buy recommendation. Price Target: Undetermined. Time Horizon: Medium Term.