TSBL - FoxLogica

📈 TSBL: BUY Signal (7/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Trust Securities & Brokerage Ltd. (TSBL) reported a profit after taxation of PKR 19.82 million for the quarter ended September 30, 2025, a significant turnaround from a loss of PKR 6.99 million in the same period last year. Operating revenue more than doubled to PKR 105.87 million, driven by increased activity in the brokerage and investment sector. However, operating and administrative expenses also increased substantially, partially offsetting the revenue growth. The company’s earnings per share (EPS) stood at PKR 0.66 compared to a loss per share of PKR 0.23 in the corresponding period.

Signal: BUY 📈

Strength: 7/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

✅ Operating revenue surged to PKR 105.87 million, a 148% increase compared to PKR 42.64 million in Q1 2024.
📈 Profit after taxation reached PKR 19.82 million, a stark contrast to the loss of PKR 6.99 million in the same quarter last year.
💸 Earnings per share (EPS) improved to PKR 0.66, compared to a loss per share of PKR 0.23 in Q1 2024.
⚠️ Operating and administrative expenses increased to PKR 91.66 million from PKR 55.24 million, indicating higher operational costs.
💼 Gain on sale of short-term investments decreased significantly to PKR 0.15 million from PKR 5.72 million.
💰 Finance costs decreased to PKR 2.57 million from PKR 4.17 million, potentially due to better financial management.
📊 Total assets increased to PKR 1,145.84 million from PKR 883.62 million, reflecting growth in investments and receivables.
🏦 Cash and bank balances increased substantially to PKR 75.56 million from PKR 7.87 million, indicating improved liquidity.
🧾 Trade debts increased to PKR 446.77 million from PKR 333.08 million, which could pose risks if not managed well.
liabilities increased to PKR 734.33 million from PKR 490.16 million, which requires attention.
📉 Lease liabilities decreased slightly to PKR 9.34 million from PKR 11.12 million.
🚀 Reserves increased to PKR 102.17 million from PKR 82.34 million.

🎯 Investment Thesis

I recommend a BUY rating for TSBL based on its strong Q1 2025 performance, characterized by substantial revenue growth and a return to profitability. The company’s improved liquidity position and increased activity in its core operations suggest a positive outlook. My price target is PKR 35 per share, based on a forward P/E ratio of 15x and projected EPS of PKR 2.33 for FY2026, with a time horizon of 12-18 months. The price target is calculated based on the projected EPS for the next fiscal year and a forward P/E ratio that is slightly below the industry average. This accounts for some caution despite the improved liquidity position and increased core operation activities.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements Signal: HOLD TSBL

⏸️ TSBL: HOLD Signal (5/10) – CERTIFIED COPY OF RESOLUTIONS PASSED AT THE 32ND ANNUAL GENERAL MEETING OF TSBL HELD ON 27-10-2025

⚡ Flash Summary

The 32nd Annual General Meeting (AGM) of Trust Securities & Brokerage Limited (TSBL) was held on October 27, 2025. Key resolutions included the confirmation of the minutes from the 31st AGM held on October 28, 2024, and authorization for the Chairman to sign the minutes. Additionally, the annual audited financial statements for the year ended June 30, 2025, along with the Auditors’ and Directors’ Reports, were approved and adopted. M/s Reanda Haroon Zakaria Aamir Salman Rizwan & Company were re-appointed as statutory auditors for the fiscal year 2025-2026.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🗓️ The 32nd AGM was successfully conducted on October 27, 2025.
✅ Minutes of the 31st AGM (October 28, 2024) were confirmed.
✍️ Chairman authorized to sign the AGM minutes.
✔️ Annual audited financial statements for the year ended June 30, 2025 were approved.
📜 Auditors’ and Directors’ Reports were also adopted.
👨‍💼 M/s Reanda Haroon Zakaria Aamir Salman Rizwan & Company re-appointed as statutory auditors.
🏦 Auditors will serve for the fiscal year 2025-2026.
📍 Meeting held at the company’s head office in Karachi.
🏢 Resolutions passed in compliance with PSX Rule Book Clause 5.6.9(b).
ℹ️ Information submitted to the Pakistan Stock Exchange (PSX).

🎯 Investment Thesis

Given the limited information, a HOLD recommendation is appropriate. The document only confirms the holding of the AGM and the approval of standard resolutions. Until the actual financial statements are analyzed, it’s not possible to make an informed decision to BUY or SELL. Price target is not possible with the information provided.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements Signal: HOLD TSBL

⏸️ TSBL: HOLD 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

TSBL announced: 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 Reg. Basic analysis suggests neutral sentiment. Professional review recommended.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

TSBL made announcement: 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
Automated analysis: HOLD signal detected
Signal strength: 5/10
This is basic analysis – manual review recommended
Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for TSBL. Manual verification required.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements Signal: HOLD TSBL

⏸️ TSBL: HOLD Signal (5/10) – Board Meeting of TSBL

⚡ Flash Summary

TSBL announced: Board Meeting of TSBL. Basic analysis suggests neutral sentiment. Professional review recommended.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

TSBL made announcement: Board Meeting of TSBL
Automated analysis: HOLD signal detected
Signal strength: 5/10
This is basic analysis – manual review recommended
Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for TSBL. Manual verification required.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 21, 2025

announcements Signal: HOLD TSBL

⏸️ TSBL: HOLD 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

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

TSBL made announcement: 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
Automated analysis: HOLD signal detected
Signal strength: 5/10
This is basic analysis – manual review recommended
Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for TSBL. Manual verification required.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 20, 2025

announcements Signal: HOLD TSBL

⏸️ TSBL: HOLD Signal (5/10) – Transmission of Annual Report for the Year Ended June 30, 2025

⚡ Flash Summary

Trust Securities and Brokerage Limited (TSBL) released its annual report for the year ending June 30, 2025. The company reported an increase in operating revenue but a decrease in profit after tax compared to the previous year. The report highlights economic factors, the company’s commitment to sustainability and DE&I, and awards received. TSBL emphasizes transparency and ethical conduct in its operations.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Operating revenue increased from PKR 211.99 million to PKR 251.09 million.
📉 Profit after taxation decreased significantly from PKR 83.99 million to PKR 19.17 million.
😟 Earning per share (EPS) declined from PKR 2.80 to PKR 0.64.
⭐ TSBL was recognized as a ‘Top Emerging Broker’ and ‘Best Broker in Karachi’.
🤝 Assigned entity ratings of A-/A-2 by PACRA with a ‘Stable’ outlook.
🌍 Commitment to Environmental, Social, and Governance (ESG) principles is highlighted.
👩‍💼 Focus on Diversity, Equity, and Inclusion (DE&I) initiatives.
🏛️ Board of Directors includes 7 members: 6 male and 1 female.
📊 KSE-100 index showed a historic upward trend, closing 2024 at approximately 115,127.
💼 Total assets increased from PKR 707.27 million to PKR 883.62 million.
🏢 The company has 6 branches across Pakistan.
📜 Board has outsourced internal audit function and has formed several committees.
🌍 The company has corporate social responsibility initiatives such as Safaid Posh Dastarkhuwan and Hunar Ghar Welfare Organization.
💼 The Directors are pleased to report in full compliance with corporate governance.
⚠️ The auditors also noted non-compliance in director training program and nomination committee.

🎯 Investment Thesis

Given the revenue growth but significant profit decline and the existing risks, a HOLD recommendation is appropriate. While the company’s brokerage operation appears to be doing well, profitability needs to be stabilized and economic risks require constant evaluation. Therefore, it is prudent to maintain current positions while monitoring the company’s performance.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

announcements Signal: HOLD TSBL

⏸️ TSBL: HOLD Signal (5/10) – Publication Pertaining to Annual General Meeting (AGM) of TSBL

⚡ Flash Summary

TSBL announced: Publication Pertaining to Annual General Meeting (AGM) of TSBL. Basic analysis suggests neutral sentiment. Professional review recommended.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

TSBL made announcement: Publication Pertaining to Annual General Meeting (AGM) of TSBL
Automated analysis: HOLD signal detected
Signal strength: 5/10
This is basic analysis – manual review recommended
Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for TSBL. Manual verification required.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 6, 2025

announcements Signal: HOLD TSBL

⏸️ TSBL: HOLD Signal (5/10) – Notice of Annual General Meeting (Prior to Publication)

⚡ Flash Summary

Trust Securities & Brokerage Ltd. has announced its 32nd Annual General Meeting (AGM) to be held on October 27, 2025, in Karachi. The meeting will address ordinary business matters, including confirming the minutes of the last AGM, adopting the annual audited financial statements for the year ended June 30, 2025, appointing auditors for the year ending June 30, 2026, and discussing other matters with the Chair’s permission. The share transfer books will be closed from October 21, 2025, to October 27, 2025. Shareholders can attend physically or virtually, with specific procedures outlined for proxies and corporate representatives.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📅 AGM Date: October 27, 2025, at 03:30 p.m. in Karachi.
🏢 Location: Suite #401, 4th Floor, Business & Finance Centre, I.I. Chundrigar Road.
✅ Agenda: Confirm minutes, adopt financial statements, appoint auditors.
🔒 Share Transfer Books: Closed from October 21 to October 27, 2025.
🤝 Proxy: Allowed, must be a company member with CNIC/Passport.
🏢 Corporate Nomination: Required for corporate shareholders to represent them.
🏦 CDC Participants: Must bring original CNIC/Passport and Account I.D.
🌐 Financial Statements: Available on the company’s website.
📜 Companies Act, 2017: Compliance with Section 223 and SRO 389(1)/2023.
📢 SECP Notification: SRO 779(1)/2011, mandatory CNIC submission.
📹 Video Conference: Facility available for shareholders with 10% stake.
💻 Online Participation: Arranged for virtual attendance.
✉️ Registration: Send CNIC copy and registration details to info@tsbl.com.pk.
🏦 CDC Account: Encouraged for physical shares to facilitate trading.
🚫 Gifts: Prohibition of gifts or incentives at the AGM.

🎯 Investment Thesis

Based on the provided document, a definitive BUY/SELL/HOLD recommendation cannot be made. The document lacks financial data necessary for valuation. Further analysis of TSBL’s financial performance, market position, and growth prospects is required before forming an investment thesis. Without this, a neutral HOLD recommendation is appropriate.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 6, 2025

PSX Announcements Signal-HOLD TSBL

⏸️ TSBL: HOLD Signal – Appointment of Director

⏸️ Trading Signal & Analysis

SignalHOLD

Strength5 / 10

SentimentNEUTRAL

Financial ImpactLOW

What this means: 📊 Regular News: This is a routine company announcement. May not have big impact on stock price immediately.

🏢 Company & Announcement

SymbolTSBL

CompanyTrust Securities & Brokerage Limited

DateSep 29, 2025

Time3:21 PM

Announcement Title:

Appointment of Director

🧠 Investment Thesis

hold recommendation with neutral outlook for TSBL

📋 Key Highlights

Corporate announcement

⚠️ Risk Assessment

Market volatility
Sector-specific risks
Economic conditions

📄 Source Document

View Original PDF

🔍 Raw Analysis Data

Click to view JSON data

{
  "sentiment": "NEUTRAL",
  "signal": "HOLD",
  "strength": 5,
  "brief_summary": "Company TSBL: Appointment of Director",
  "key_points": [
    "Corporate announcement"
  ],
  "financial_impact": "LOW",
  "price_target": "Neutral movement expected",
  "risk_factors": [
    "Market volatility",
    "Sector-specific risks",
    "Economic conditions"
  ],
  "investment_thesis": "hold recommendation with neutral outlook for TSBL",
  "simple_note": "\ud83d\udcca Regular News: This is a routine company announcement. May not have big impact on stock price immediately."
}

Disclaimer: This analysis is AI-generated and for informational purposes only. It is not financial advice. Please conduct your own research before making any investment decisions.

Written by: FoxLogica News Analysis

Published on: September 30, 2025

PSX Announcements Signal-SELL TSBL

📉 TSBL: SELL Signal – Financial Results for the Year Ended June 30, 2025.

📉 Trading Signal & Analysis

SignalSELL

Strength7 / 10

SentimentNEGATIVE

Financial ImpactMEDIUM

What this means: 📉 Loss News: Company lost money this quarter. Stock price may fall because investors worry about companies that are not making profit.

🏢 Company & Announcement

SymbolTSBL

CompanyTrust Securities & Brokerage Limited

DateSep 29, 2025

Time3:13 PM

Announcement Title:

Financial Results for the Year Ended June 30, 2025.

🧠 Investment Thesis

Given the substantial decline in profit after tax and the absence of dividends, a conservative approach is warranted. Investors should consider selling or reducing their holdings in TSBL, as the current financial performance does not support a strong investment case. Close monitoring of future announcements and financial results is crucial for reassessing the company’s potential.

📋 Key Highlights

No cash dividend, bonus shares, or right shares were announced.
Profit after income tax significantly decreased from 83.997 million to 19.168 million.
Earning per share decreased from 2.80 to 0.64.
The Annual General Meeting (AGM) will be held on October 27, 2025.
Operating revenue increased from 211.999 million to 251.089 million.
Gain on sale of short term investments decreased significantly from 96.963 million to 13.896 million.
Finance cost decreased from (13.507 million) to (11.748 million).
Other charges decreased from (44.209 million) to (22.795 million).

⚠️ Risk Assessment

Decreased profitability may indicate underlying issues within the company.
Lack of dividends may disappoint investors seeking regular income.
The financial performance shows decline, requiring careful monitoring of future results.

📄 Source Document

View Original PDF

🔍 Raw Analysis Data

Click to view JSON data

{
  "sentiment": "NEGATIVE",
  "signal": "SELL",
  "strength": 7,
  "brief_summary": "TSBL's financial results for the year ending June 30, 2025, show a significant decrease in profit after tax and no dividends. This suggests the company has had a challenging year. Investors should carefully consider the reduced profitability and lack of shareholder returns before making any investment decisions.",
  "key_points": [
    "No cash dividend, bonus shares, or right shares were announced.",
    "Profit after income tax significantly decreased from 83.997 million to 19.168 million.",
    "Earning per share decreased from 2.80 to 0.64.",
    "The Annual General Meeting (AGM) will be held on October 27, 2025.",
    "Operating revenue increased from 211.999 million to 251.089 million.",
    "Gain on sale of short term investments decreased significantly from 96.963 million to 13.896 million.",
    "Finance cost decreased from (13.507 million) to (11.748 million).",
    "Other charges decreased from (44.209 million) to (22.795 million)."
  ],
  "financial_impact": "MEDIUM",
  "price_target": "Likely to decrease in the short term, but dependent on future performance and market conditions.",
  "risk_factors": [
    "Decreased profitability may indicate underlying issues within the company.",
    "Lack of dividends may disappoint investors seeking regular income.",
    "The financial performance shows decline, requiring careful monitoring of future results."
  ],
  "investment_thesis": "Given the substantial decline in profit after tax and the absence of dividends, a conservative approach is warranted. Investors should consider selling or reducing their holdings in TSBL, as the current financial performance does not support a strong investment case. Close monitoring of future announcements and financial results is crucial for reassessing the company's potential.",
  "simple_note": "\ud83d\udcc9 Loss News: Company lost money this quarter. Stock price may fall because investors worry about companies that are not making profit."
}

Disclaimer: This analysis is AI-generated and for informational purposes only. It is not financial advice. Please conduct your own research before making any investment decisions.

Written by: FoxLogica News Analysis

Published on: September 30, 2025

+ More