FRCL

⚡ Flash Summary

Frontier Ceramics Limited will hold a Corporate Briefing Session (CBS) on November 27, 2025, at 12:15 PM virtually via video link, for the year ended June 30, 2025. Interested shareholders and analysts are requested to share their details, including name, Folio/CDS account number (for shareholders), email address, and institution name (for analysts) by November 26, 2025. Meeting link and login credentials will be provided to those whose emails with complete particulars are received by the specified date. This announcement informs TREC holders and concerned parties about the upcoming briefing.

📌 Key Takeaways

• 🗓️ Corporate Briefing Session (CBS) scheduled for November 27, 2025.
• 🏢 CBS is for Frontier Ceramics Limited (FRCL).
• 📅 The CBS will cover the year ended June 30, 2025.
• 💻 The session will be held virtually via video link.
• ⏰ Time of the briefing is 12:15 PM.
• 📧 Shareholders/analysts must share details via email by November 26, 2025.
• 📝 Required details include: Name, Folio/CDS Account No. (shareholders), E-mail address, Institution (analysts).
• 🔑 Meeting link/login credentials provided only to those who submit complete details.
• ✉️ Email address for submission: rehman.khan@forte.com.pk.
• ℹ️ TREC holders are informed of the briefing.
• 🌐 FRCL’s registered office is in Peshawar.
• 📞 Contact numbers provided for Peshawar and Rawalpindi offices.
• 📧 General inquiry email: info@forte.com.pk.

🎯 Investment Thesis

Based on this announcement, a HOLD recommendation is appropriate. The corporate briefing session may provide additional information to adjust this recommendation. A price target and time horizon cannot be determined without further financial details from the briefing.

⚡ Flash Summary

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

📌 Key Takeaways

• FRCL made announcement: Board Meeting
• 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 FRCL. Manual verification required.

⚡ Flash Summary

FRCL announced: Financial Results for the Quarter Ended September 30, 2025. Basic analysis suggests neutral sentiment. Professional review recommended.

📌 Key Takeaways

• FRCL made announcement: Financial Results for the Quarter Ended September 30, 2025
• 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 FRCL. Manual verification required.

⚡ Flash Summary

Frontier Ceramics Limited (FRCL) held its 43rd Annual General Meeting on October 28, 2025, where shareholders approved the annual audited financial statements for the year ended June 30, 2025, and ratified related party transactions. M/s Crowe Hussain Chaudhury & Co. were appointed as auditors for the year ending June 30, 2026, replacing BDO Ebrahim & Co. Shareholders also approved the withdrawal of a land sale agreement, initially valued at Rs. 1.13 billion, due to prevailing market conditions. The counterparty will refund Rs. 200 million in May 2026, with the remaining amount to be negotiated after June 30, 2026.

📌 Key Takeaways

• ✅ Shareholders approved the annual audited financial statements for the year ended June 30, 2025.
• 🤝 Related party transactions with associated companies like Toyota Rawal Motors (Pvt) Ltd were ratified.
• 👨‍💼 M/s Crowe Hussain Chaudhury & Co. appointed as auditors for the year ending June 30, 2026.
• ❌ Withdrawal of land sale agreement approved due to strategic review and market conditions.
• 💰 Initial land sale agreement was for Rs. 1.13 billion, with Rs. 750.84 million already paid as advance.
• 🔄 Counterparty to refund Rs. 200 million by May 2026.
• 🗓️ Further payment negotiations with the counterparty to continue after June 30, 2026.
• 🏦 Approval granted to extend loan amount up to Rs 800 million to Khalid & Khalid Holdings (Pvt) Ltd.
• 📈 Loan extension is based on one-year KIBOR plus 3.25% terms.
• 🗳️ Resolutions passed through electronic voting, postal ballot, and ballot box drop-in.
• 📜 Board authorized to approve necessary transactions with related parties under applicable provisions of the Companies Act, 2017.
• 🤝 Board empowered to negotiate an amicable settlement with the counterparty regarding the withdrawn land sale.
• ✔️ All acts and deeds by the Board related to the withdrawal and negotiations were ratified and approved.
• 👨‍💼 Company Secretary and CEO authorized to take necessary actions to fulfill all requisite legal and corporate formalities.

🎯 Investment Thesis

Given the lack of specific financial performance data and the focus on procedural matters, a HOLD recommendation is appropriate. Investors should monitor the company’s financial statements and disclosures for more detailed information on revenue trends, profitability, and cash flow. The outcome of negotiations related to the land sale refund will also be a key factor to watch.

⚡ Flash Summary

Frontier Ceramics Limited (FRCL) has announced a notice regarding the change of auditors pursuant to Section 246 of the Companies Act, 2017. The company received a proposal from a shareholder to appoint M/s Crowe Hussain Chaudhry & Co. as the new auditors for the fiscal year ending June 30, 2026, replacing the retiring auditors, M/s BDO Ebrahim & Co. The proposal will be presented at the Annual General Meeting scheduled for October 28, 2025. This change is in compliance with regulatory requirements and has been communicated to both the retiring auditors and shareholders via the company’s website.

📌 Key Takeaways

• 📅 FRCL announced a notice for a change in auditors on October 20, 2025.
• 📜 The notice is pursuant to Section 246 of the Companies Act, 2017.
• 🏢 M/s Crowe Hussain Chaudhry & Co. are proposed as the new auditors.
• 💼 They will replace the retiring auditors, M/s BDO Ebrahim & Co.
• 🗓️ The auditor appointment will cover the fiscal year ending June 30, 2026.
• 🤝 The proposal was initiated by a shareholder.
• 📍 Crowe Hussain Chaudhry & Co. are based in Islamabad (House No. 982, Street 21, Phase 4, Bahria Town).
• 🏢 BDO Ebrahim & Co. are located at 3rd floor Saeed Plaza 22-East Blue area Islamabad.
• 🗓️ The Annual General Meeting (AGM) is scheduled for October 28, 2025 at 09:00 a.m.
• 🏢 The AGM will be held at the Registered Office: 29-Industrial Estate, Jamrud Road, Peshawar.
• 🌐 The shareholder notice is available on the company’s website.
• ✉️ A copy of the notice was sent to the retiring auditors.
• 📰 The notice was published in “Daily Times” and “Nawa-e-Waqt” newspapers on October 20, 2025.
• 📜 Regulation 5.6.9(b) of the Pakistan Stock Exchange Rule Book necessitates this notice.
• 👤 Rehman Khan Sherwani, Company Secretary, signed the notice.

🎯 Investment Thesis

HOLD. The change of auditors is a routine corporate governance matter. There is no immediate financial impact. Investors should monitor the audit process and any subsequent reports for potential implications on financial reporting quality. A HOLD rating is maintained until further financial results or strategic changes are announced.

⚡ Flash Summary

FRCL announced: Transmission of Annual Report for the Year Ended June 30, 2025. Basic analysis suggests neutral sentiment. Professional review recommended.

📌 Key Takeaways

• FRCL made announcement: Transmission of Annual Report for the Year Ended June 30, 2025
• 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 FRCL. Manual verification required.

⚡ Flash Summary

Frontier Ceramics Limited (FRCL) will hold its 43rd Annual General Meeting on October 28, 2025, to confirm minutes, adopt financial statements, and appoint auditors. A special resolution seeks member approval for transactions with related parties, associated companies, and undertakings, including extending a loan of up to Rs 800 million to Khalid & Khalid Holdings. Another special resolution concerns the withdrawal of a land sale agreement with a counterparty, involving a refund of Rs 200 million by May 2026, due to changing market conditions.

📌 Key Takeaways

• 📅 FRCL’s 43rd AGM is scheduled for October 28, 2025, in Peshawar.
• ✔️ AGM agenda includes confirming minutes from the previous meeting on October 28, 2024.
• 📄 Members will review and adopt the annual audited financial statements for the year ended June 30, 2025.
• auditors’ appointment: BDO Ebrahim & Co., Chartered Accountants, are eligible for reappointment for the year ending June 30, 2026.
• 🤝 Special resolution seeks approval for transactions with related parties as per Sections 207, 208, and 199 of the Companies Act, 2017.
• 💰 Approval sought for extending a loan of up to Rs 800 million to Khalid & Khalid Holdings at one-year KIBOR plus 3.25%.
• ❌ Land sale agreement withdrawal approved for a deal with a counterparty, refunding Rs 200 million by May 2026.
• Negotiations are underway regarding further payments related to the withdrawal of the land sale agreement with the counter party.
• 🚫 No share transfers will be registered from October 22, 2025, to October 28, 2025.
• 🗳️ E-voting and postal ballot options are available to members for casting their votes.
• 🏦 Physical shareholders must provide CNIC, address, email, and IBAN details to the share registrar.
• 🌐 Financial statements are available on the company’s website: www.forte.com.pk/reports.
• 🎁 Gifting incentives to shareholders at or in connection with general meetings is prohibited as per SECP regulations.

🎯 Investment Thesis

HOLD. Given the limited financial information and uncertainties surrounding the impact of related party transactions and the land sale agreement withdrawal, a HOLD recommendation is appropriate. While the company is taking steps to address compliance and governance matters, further insight into financial performance and strategic direction is needed to justify a stronger investment rating. Price target and time horizon are contingent on future financial releases and strategic announcements.

⚡ Flash Summary

FRCL announced: FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30, 2025. Basic analysis suggests neutral sentiment. Professional review recommended.

📌 Key Takeaways

• FRCL made announcement: FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30, 2025
• 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 FRCL. Manual verification required.