FoxLogica News Analysis

📈 GGGL: BUY Signal (8/10) – GGGL | Ghani Global Glass Limited PRESENTATION OF CORPORATE BRIEFING SESSION – GHANI GLOBAL GLASS LIMITED

⚡ Flash Summary

Ghani Global Glass Limited (GGGL) reported strong financial results for FY2025, showcasing significant improvements in revenue and profitability. The company’s net sales increased to PKR 2,932 million, driven by increased demand and better pricing strategies. Gross profit surged to PKR 755 million due to improved sales volume, margins, and cost management. This positive performance translated into a Profit After Tax of PKR 301 million and an EPS of PKR 1.25, indicating a robust financial turnaround for the company.

Signal: BUY 📈
Strength: 8/10
Sentiment: POSITIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 📈 Net sales increased from PKR 2,440 million in FY2024 to PKR 2,932 million in FY2025.
  • 💰 Gross profit jumped from PKR 550 million to PKR 755 million, driven by better cost management.
  • 💪 Operating profit rose from PKR 427 million to PKR 643 million due to reduced finance costs and stronger gross profit.
  • ✅ Profit after tax increased significantly from PKR 145 million to PKR 301 million.
  • ⭐ EPS improved from PKR 0.60 to PKR 1.25, reflecting higher net profit.
  • 🏭 Non-current assets expanded from PKR 2,557 million to PKR 3,121 million due to capital expenditure on new glass tubing furnace and ampoule lines.
  • 💵 Current assets rose from PKR 2,662 million to PKR 3,085 million, supported by growth in trade receivables and improved cash balances.
  • 🌍 The company is focusing on export growth in MENA, Africa, and Latin America.
  • 🤝 Strategic alliances with leading pharmaceutical manufacturers are in place.
  • 🧪 Capacity is enhanced with 06 Vial and 22 Ampoule manufacturing machines operating round the clock.
  • 🛡️ Risk mitigation includes introducing oxyfuel technology, installing VPSA for oxygen, and adding solar systems to reduce energy costs.
  • 🇰🇼 Plans to establish an ampoules manufacturing plant in KSA to expand market presence.
  • ⚙️ Focus on improving capacity utilization of newly installed machinery.

🎯 Investment Thesis

I recommend a BUY for GGGL. The company’s strong financial performance in FY2025, driven by revenue growth and improved profitability, suggests a positive outlook. Strategic investments in new infrastructure and expansion into international markets should further enhance growth prospects. While risks remain, the company’s mitigation strategies and strong financial position make it an attractive investment. My price target is PKR 18, with a time horizon of 12 months, contingent on continued revenue growth and effective cost management.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

⏸️ NETSOL: HOLD Signal (5/10) – Material Information

⚡ Flash Summary

NETSOL Technologies Limited announced the sale of 24,310 treasury shares to eligible employees under the Employees Stock Option Scheme (ESOS) at a price of Rs.77.84 per share. This decision was approved during an Extra-Ordinary General Meeting (EOGM) held on December 31, 2024, and aligns with Regulation 13(6)(b) of the Listed Companies (Buy-Back of Shares) Regulations, 2019. The shares have been transferred to employees through their CDS accounts. This move likely aims to incentivize employees and align their interests with the company’s performance.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • ✅ NETSOL approved the sale of treasury shares to employees under ESOS.
  • 🗓️ Decision made during EOGM on December 31, 2024.
  • 🏢 24,310 treasury shares were sold.
  • 💰 Sale price: Rs.77.84 per share.
  • 🧑‍💼 Eligible employees received the shares.
  • 🏦 Shares transferred through CDS accounts.
  • 📜 Complies with Regulation 13(6)(b) of the Listed Companies Regulations, 2019.
  • 💼 ESOS aims to incentivize employees.
  • 🤝 Aligns employee interests with company performance.
  • ℹ️ Information disclosed under Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations.

🎯 Investment Thesis

HOLD. The announcement of treasury share sales to employees is a positive but not significant event. It does not fundamentally change the investment outlook for NETSOL. The potential upside from improved employee motivation is balanced by the minor dilution effect. A price target revision is not warranted at this time. Time horizon: MEDIUM_TERM.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

⏸️ MEBL: HOLD Signal (6/10) – PUBLICATION OF NOTICES FOR THE CREDIT OF INTERIM CASH DIVIDEND OF MEEZAN BANK FOR THE YEAR ENDING DECEMBER 31, 2025

⚡ Flash Summary

Meezan Bank has announced the credit of an interim cash dividend of Rs. 7 per share, which is 70% of the share value, for the year ending December 31, 2025. This dividend, approved by the Board of Directors on October 24, 2025, was electronically credited to shareholders’ accounts between November 13 and November 14, 2025. The bank has withheld dividends for shareholders who did not provide valid International Bank Account Numbers (IBANs). Shareholders are requested to provide their valid CNIC and complete bank account details to receive their withheld dividends.

Signal: HOLD ⏸️
Strength: 6/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📢 Meezan Bank announced an interim cash dividend.
  • 💰 Dividend amount: Rs. 7 per share (70%).
  • 📅 Year ending: December 31, 2025.
  • ✅ Dividend approved on October 24, 2025.
  • 🏦 Credited electronically between November 13-14, 2025.
  • 🚫 Dividends withheld for invalid IBANs.
  • 📄 Shareholders must provide valid CNIC and bank details.
  • 🔗 E-Dividend Mandate Form available online.
  • 🏢 Contact THK Associates for physical shareholding.
  • 💻 Contact CDC for electronic shareholding.
  • 🌐 Centralized Cash Dividend Register (CCDR) available on CDC’s e-Services portal.
  • ℹ️ CCDR provides details of dividends paid, unpaid, or withheld.
  • 🧾 Information includes Income Tax/Zakat deductions.
  • 📲 24/7 Call Center available for assistance.

🎯 Investment Thesis

HOLD. Meezan Bank’s consistent dividend payouts and commitment to regulatory compliance make it a stable investment. While the dividend announcement is positive, a HOLD rating is maintained pending a comprehensive financial analysis and assessment of future growth prospects. Price target will remain the same until more information is available. Time horizon: Medium Term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

⏸️ CEPB: NEUTRAL Signal (5/10) – Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Regulations

⚡ Flash Summary

On November 17, 2025, Century Paper & Board Mills Limited disclosed the interest of a relevant person, Mr. Iqbal Ali Lakhani, a Non-Executive Director, in the company’s shares. Mr. Lakhani purchased 140,000 shares through the CDC in the ready market on November 14, 2025, at a rate of PKR 29.99 per share. This purchase increased his cumulative percentage of shares to 1.075%, representing 4,320,916 shares. The disclosure was made in compliance with PSX Regulation 5.6.4.

Signal: NEUTRAL ⏸️
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📝 Disclosure pertains to the purchase of shares by a Non-Executive Director.
  • 👨‍💼 Relevant person: Mr. Iqbal Ali Lakhani.
  • 🏢 Company: Century Paper & Board Mills Limited.
  • 🗓️ Date of transaction: November 14, 2025.
  • 🛒 Nature of transaction: Purchase.
  • 📈 Number of shares purchased: 140,000.
  • 💰 Purchase price per share: PKR 29.99.
  • 🏦 Form of share certificate: CDC.
  • 🚦 Market: Ready market.
  • 📊 Cumulative percentage of shares after purchase: 1.075%.
  • 🔢 Total number of shares held after purchase: 4,320,916.
  • 📜 Regulation compliance: PSX Regulation 5.6.4.

🎯 Investment Thesis

HOLD. The purchase by a non-executive director is a mildly positive signal, but not strong enough to warrant a buy recommendation. A deeper dive into the company’s financials and industry outlook is needed before making an investment decision. The current information does not justify a sell recommendation. Price target: Maintain current market price, pending further analysis. Time horizon: Medium-term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

⏸️ MUGHAL: HOLD Signal (5/10) – Notice of Book Closure – Sukuk VI

⚡ Flash Summary

Mughal Iron & Steel Industries Limited has announced a book closure for its Sukuk VI certificates. The purpose of this closure is to determine the entitlement of Sukuk holders for bullet principal and profit payments. The transfer books will be closed from November 27, 2025, to December 03, 2025. Sukuk holders are requested to update their international bank account details by November 26, 2025, and provide valid income tax exemption certificates to the share registrar.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📅 Book closure dates: November 27, 2025 – December 03, 2025.
  • 💰 Purpose: Determine bullet principal & profit payment for Sukuk-VI holders.
  • 🏦 Sukuk holders must update IBAN details by November 26, 2025.
  • 🧾 Provide valid income tax exemption certificates to the share registrar.
  • 🏢 Share registrar: M/s. Digital Custodian Company Limited.
  • 📍 Share registrar address: Perdesi house, 4th Floor, Old Queens Road, Karachi.
  • 🧾 CDS transaction IDS received by November 26, 2025, will be treated for entitlement.
  • ⚠️ Profit on Sukuk investments is subject to income tax deduction under section 151.
  • 📜 Sukuk Certificates are Unlisted Sukuk-VI
  • 🗓️ Payment due date is December 03, 2025

🎯 Investment Thesis

Given the nature of the announcement, which focuses on Sukuk payment processes, a HOLD recommendation is appropriate. The company is fulfilling its financial obligations, but further analysis of the company’s financials is necessary to make a more informed investment decision. The time horizon depends on overall company performance and Sukuk terms.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

⏸️ MEHT: HOLD Signal (5/10) – CORPORATE BRIEFING SESSION

⚡ Flash Summary

Mahmood Textile Mills Ltd. is hosting a corporate briefing to present the company’s financial performance and outlook. The session will be held via Zoom Meeting on November 20, 2025, at 03:00 PM. Senior management will be present to discuss the company’s performance. For any queries, contact Sana Tawfik, Head of Research at Arif Habib Limited.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📅 Corporate briefing scheduled for November 20, 2025.
  • 💻 The briefing will be conducted via Zoom Meeting.
  • 🕒 Session to start at 03:00 PM.
  • 🏢 Senior management to present financial performance.
  • 📈 Expect discussion on the company’s outlook.
  • ❓ Sana Tawfik from Arif Habib Limited is the contact person for queries.
  • 🔍 Sana Tawfik’s email: sana.tawfik@arifhabibltd.com
  • 📞 Contact number for queries: +92 21 38280283
  • 👨‍💼 M. Anees Khawaja, Chief Executive Officer, will be presenting.
  • 📊 Yasir Ghaffar, Chief Financial & Strategy Officer, will be presenting.
  • 💰 Rashid Mahmood, Chief Financial Officer, will be presenting.
  • 💡 Usman Bin Khalid, Head Digitalization & Transformation (CXO), will be presenting.
  • 🌱 Kehkeshan Usman, Chief Sustainability & Communications Officer, will be presenting.
  • 🏦 Qamar Rehman, Head Finance & Planning, will be presenting.

🎯 Investment Thesis

A HOLD recommendation is appropriate given the lack of concrete financial data. Awaiting the corporate briefing for more information is necessary before making an informed investment decision. More data is needed to provide a target price.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

📉 ALTN: SELL Signal (9/10) – Corporate Briefing Presentation 2025

⚡ Flash Summary

ALTRN Energy Limited’s (ALTN) corporate briefing presentation from November 2025 reveals a challenging situation. The company’s power generation has ceased from 2021-2025 due to reduced dispatch demand and unfavorable economic dispatch merit order. The company is seeking early termination of its agreements, including PPA, IA, and GoP Guarantee, following the termination of its subsidiary Rousch’s agreements in 2024. Financial highlights show a significant drop in revenue and net profit from 2019-2020 to 2024-2025, with the company reporting a net loss in 2022-23.

Signal: SELL 📉
Strength: 9/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 📉 Zero power generation from 2021-2025 due to reduced dispatch demand.
  • ❌ Termination of Rousch’s agreements in 2024.
  • 📜 Seeking early termination of PPA, IA, and GoP Guarantee.
  • 🔍 Board of Directors recommended termination in March 2025.
  • ✅ Shareholders approved termination in April 2025.
  • 📝 Application for termination submitted in May 2025.
  • 💰 Revenue decreased significantly to 0 in 2023-2025 from Rs. 116.8 million in 2019-2020.
  • 💔 Net profit turned negative in 2022-23 with a loss of Rs. (72.86) million compared to a profit of Rs. 1,689.62 million in 2019-2020.
  • ⛽ Shift to RLNG operations in September 2017 due to declining local gas resources.
  • 💲 Increase in RLNG prices due to Pak Rupee devaluation and rising international prices.
  • 🏭 Plant capacity: 31.2 MW at ISO conditions.
  • ⚙️ Plant technology: IC Engines – simple cycle.
  • 🏢 Company structure: AEL (Public Listed) -> PMCL (Private) -> RPPL (Public Unlisted).
  • 🤝 CPPA-G is the off-taker.
  • 📅 Agreements scheduled to expire in 2032 but terminated early with effect from October 1, 2024.

🎯 Investment Thesis

Given the company’s cessation of operations, negative profitability, and ongoing efforts to terminate key agreements, a SELL recommendation is warranted. The company faces significant financial, operational, market, and regulatory risks. There is no clear path to recovery or future profitability. The price target should be significantly reduced to reflect the distressed state of the company. Investors should seek opportunities in more stable and profitable IPPs.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

⏸️ IMS: HOLD Signal (6/10) – Disclosure of Interest by substantial shareholder under rule 5.6.4 of the rule book

⚡ Flash Summary

Intermarket Securities Limited (IMS) disclosed that AB Holdings acquired 102,079,820 ordinary shares, equivalent to 7.92% of IMS’s issued and paid-up capital, from EFG Hermes Brokerage Holding LLC at PKR 0.01 per share. This transaction results in an indirect change in the beneficial shareholding and ownership of Ms. Erum Bilwani, a director and substantial shareholder of both IMS (holding 43.07% shares) and AB Holdings (holding 30% shares). The shares are held in electronic form with the Central Depository Company (CDC). The disclosure aims to keep the Pakistan Stock Exchange (PSX) and market participants informed as per regulatory requirements.

Signal: HOLD ⏸️
Strength: 6/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📢 AB Holdings acquired 7.92% of Intermarket Securities Limited (IMS).
  • 💰 Purchase price: PKR 0.01 per share.
  • 🏢 Seller: EFG Hermes Brokerage Holding LLC.
  • 📅 Transaction date: September 30, 2025.
  • 👤 Ms. Erum Bilwani is a director and substantial shareholder of both IMS (43.07%) and AB Holdings (30%).
  • 📊 The transaction involved 102,079,820 ordinary shares.
  • 🏛️ Shares are held electronically with the Central Depository Company (CDC).
  • 🔄 Indirect change in beneficial shareholding of Ms. Erum Bilwani.
  • 📜 Disclosure made under Rule 5.6.4 of the PSX Rule Book.
  • 🗓️ Disclosure date: November 17, 2025.
  • ✉️ AB Holdings’ purchase intimation letter dated November 10, 2025.
  • 🤝 Share Purchase Agreement (SPA) executed on September 30, 2025.

🎯 Investment Thesis

HOLD. The acquisition of a 7.92% stake in Intermarket Securities Limited (IMS) by AB Holdings introduces both opportunities and uncertainties. While the transaction may signal strategic alignment and potential synergies, a comprehensive understanding of the financial implications and operational changes is needed. Given the limited information available in the disclosure, a HOLD recommendation is appropriate until further details emerge. The price target will need more information and is not possible to compute given the limited financial detail.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

📈 DSL: BUY Signal (7/10) – Corporate Update

⚡ Flash Summary

Dost Steels Limited (DSL) has announced a strategic realignment to expand its operations by including the trading and supply of construction materials, alongside its existing steel re-rolling business. DSL has entered an arrangement to become a primary supplier of construction materials for ZKB, a major infrastructure development group in Pakistan. This partnership aims to provide a stable and recurring demand pipeline, allowing DSL to participate in significant nationwide infrastructure projects. The company is committed to enhancing shareholder value through operational expansion, business integration, and sustainable growth.

Signal: BUY 📈
Strength: 7/10
Sentiment: POSITIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 🏭 DSL is expanding its operations to include construction materials trading.
  • 🤝 DSL will act as a primary supplier for ZKB’s infrastructure projects.
  • 🏗️ ZKB is one of Pakistan’s largest infrastructure development groups.
  • 📈 A stable and recurring demand pipeline is expected from this arrangement.
  • 🌐 DSL will participate in major nationwide infrastructure projects.
  • 🌱 This strategic expansion aligns with DSL’s future growth plans.
  • 🔄 Operations will run alongside the Company’s ongoing manufacturing activities.
  • 💼 The company is committed to enhancing shareholder value.
  • ✨ DSL aims for operational expansion and improved business integration.
  • 🎯 Long-term sustainable growth is a key focus for the company.
  • 🤝 Arrangement with ZKB could lead to increased revenue streams and market share for DSL.
  • 💪 Expansion into construction materials offers diversification and reduces reliance on steel re-rolling alone.
  • 🌱 Commitment to sustainability may attract ESG-focused investors.
  • 🚀 The initiative is expected to provide a stable and recurring demand.

🎯 Investment Thesis

Based on the announcement, a tentative BUY recommendation is warranted. The strategic move to supply construction materials to ZKB offers significant growth potential and revenue diversification. The long-term vision for sustainable growth enhances the attractiveness of DSL. A price target and time horizon cannot be accurately determined without further financial data.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

⏸️ HINO: HOLD Signal (5/10) – Election of Directors – Notice under Section 159(4) of the Companies Act 2017

⚡ Flash Summary

Hinopak Motors Limited has announced the election of directors under Section 159(4) of the Companies Act 2017. An Extraordinary General Meeting is scheduled for November 26, 2025, to elect directors. Seven candidates have filed their intention to offer themselves for election. Since the number of candidates equals the fixed number of directors, they shall be deemed elected.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📅 Election of Directors announced under Section 159(4) of the Companies Act 2017.
  • 🏢 Extraordinary General Meeting scheduled for Wednesday, November 26, 2025, at 10:00 a.m. at the registered office.
  • 📍 Registered office located at D-2, S.I.T.E., Manghopir Road, Karachi.
  • 👤 Seven candidates have filed their intention to offer themselves for election.
  • 1️⃣ Mr. Muhammad Aslam Sanjrani is a candidate.
  • 2️⃣ Mr. Takayuki Kizawa is a candidate.
  • 3️⃣ Mr. Ryota Hatakeyama is a candidate.
  • 4️⃣ Ms. Nargis Ali Akbar Ghaloo is a candidate.
  • 5️⃣ Mr. Mushtaq Malik is a candidate.
  • 6️⃣ Mr. Masato Uchida is a candidate.
  • 7️⃣ Mr. Takuji Umemura is a candidate.
  • ✅ Candidates shall be deemed to be elected since the number of persons to be elected is not more than the number fixed under section 159(1) of the Companies Act, 2017.
  • 📰 Notice will be published in Daily Business Recorder and Daily Nawa-i-Waqt on November 19, 2025.
  • ✉️ Muhammad Zahid Hasan, Company Secretary, is the contact person.
  • 🌐 Further information available at www.hinopak.com

🎯 Investment Thesis

HOLD. The announcement is procedural and doesn’t immediately impact investment decisions. Continued monitoring of Hinopak’s financial performance and strategic direction is necessary before changing the recommendation. The election of directors, while important for governance, doesn’t alter the fundamental investment thesis.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

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