⚡ Flash Summary

Siemens Pakistan Engineering Co. Ltd. reported a mixed financial performance for the year ended September 30, 2025. While the company’s net profit showed significant improvement due to discontinued operations, revenue from continuing operations declined. The company has recommended no cash dividend. The board recommends A.F. Ferguson & Co. as auditors for FY 2026.

📌 Key Takeaways

• ⚠️ No cash dividend declared for the year ended September 30, 2025.
• 📉 Net sales and services decreased from PKR 9,697.99 million in 2024 to PKR 8,854.55 million in 2025.
• ⬆️ Gross profit increased from PKR 1,162.18 million in 2024 to PKR 1,411.47 million in 2025.
• ⬆️ Net profit/(loss) for the year improved significantly from a loss of PKR 2,048.09 million in 2024 to a profit of PKR 829.41 million in 2025, mainly due to discontinued operations.
• ⬆️ Basic and diluted earnings/(loss) per share improved from a loss of PKR 248.34 in 2024 to earnings of PKR 100.57 in 2025.
• ⬇️ Basic and diluted earnings per share for continuing operations decreased from PKR 38.07 in 2024 to PKR 12.77 in 2025.
• ⬇️ Operating profit decreased from PKR 303.39 million in 2024 to PKR 159.08 million in 2025.
• ⬆️ Financial income increased significantly from PKR 48.95 million in 2024 to PKR 389.68 million in 2025.
• ⬇️ Total equity increased from PKR 5,396.81 million in 2024 to PKR 6,186.19 million in 2025.
• ⬇️ Total assets decreased from PKR 31,497.51 million in 2024 to PKR 14,203.21 million in 2025.
• 🏦 Cash and bank balances increased from PKR 4,307.20 million in 2024 to PKR 6,710.59 million in 2025.
• 📅 Annual General Meeting will be held on January 14, 2026, at Karachi.
• 🔒 Share transfer book closure from January 08, 2026 to January 14, 2026.
• ✅ A.F. Ferguson & Co. recommended as auditors for FY 2026.

🎯 Investment Thesis

HOLD. The significant improvement in net profit is primarily due to discontinued operations, masking underlying weakness in the core business. The absence of a dividend further reduces the attractiveness of the stock. A ‘Hold’ recommendation is appropriate until Siemens Pakistan Engineering Co. Ltd. demonstrates sustainable revenue growth and improved profitability from its continuing operations.