⚡ Flash Summary

TRG Pakistan Limited reported its financial results for the quarter ended September 30, 2025. The company reported a profit after taxation of PKR 6,867.756 million, a significant increase from PKR 2,407.454 million in the same quarter last year. Earnings per share (basic and diluted) stood at PKR 12.59, compared to PKR 4.41 in the corresponding period of 2024. The company did not declare any cash dividend, bonus shares, or right shares for the quarter.

📌 Key Takeaways

• 📈 Profit after taxation soared to PKR 6,867.756 million, a substantial increase from PKR 2,407.454 million year-over-year.
• 💰 Earnings per share (EPS) reached PKR 12.59, significantly higher than PKR 4.41 in the same quarter last year.
• 🚫 No cash dividend was declared for the quarter ended September 30, 2025.
• ❌ No bonus shares were announced.
• ❌ No right shares were proposed.
• 📊 Operating loss was PKR (191,032) thousand, compared to PKR (135,224) thousand in the prior year.
• 💼 Share of profit in equity accounted investee increased to PKR 8,304.456 million from PKR 2,992.742 million.
• 💸 Total comprehensive income was PKR 6,511.648 million compared to PKR 2,308.179 million in the corresponding quarter of 2024.
• 🏦 Cash and bank balances increased to PKR 34,954 thousand from PKR 27,164 thousand as of June 30, 2025.
• 📉 Foreign currency translation reserve decreased to PKR 28,494.777 million from PKR 28,850.885 million as of June 30, 2025.
• 📊 Unappropriated profit increased significantly to PKR 10,496.666 million from PKR 3,628.910 million as of June 30, 2025.
• 📉 Effect of translation of net investment in foreign associate net of tax reported a loss of PKR (356,108) thousand versus PKR (99,275) thousand last year.

🎯 Investment Thesis

Based on the improved profitability and significant EPS growth, a BUY recommendation is warranted. The company’s strategic investments appear to be paying off, as indicated by the increased share of profit in equity accounted investees. A price target of PKR 150 is set, with a time horizon of 12 months, based on continued earnings growth and potential for further investment gains.