NEGATIVE - FoxLogica

⏸️ SMCPL: HOLD Signal (5/10) – Presentation for Corporation Briefing Session for FY 2024-2025

⚡ Flash Summary

SMCPL (Safemix Concrete Limited) has shown mixed financial performance for the fiscal year 2024-2025. While revenue increased by 31% to PKR 1,652 million, profitability metrics such as gross profit and net profit declined by -1% and -10%, respectively. The EPS also decreased from PKR 4.57 to PKR 4.11. Despite increased sales, cost management challenges appear to have impacted overall profitability.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Revenue increased significantly by 31%, reaching PKR 1,652 million in FY 2024-2025.
📉 Gross profit decreased slightly by -1% to PKR 256.35 million.
⚠️ GP Ratio declined from 21% to 16%, indicating reduced efficiency.
⬆️ Administrative expenses increased by 27% to PKR 57.67 million.
⬆️ Selling and distribution expenses surged by 51% to PKR 9.31 million.
📉 Operating profit decreased by -9% to PKR 189.37 million.
⚠️ Operating Profit Ratio decreased from 17% to 11%.
⬇️ Other expenses decreased by -39% to PKR 6.48 million.
⬇️ Other income decreased by -26% to PKR 6.42 million.
⬇️ Finance cost decreased by -29% to PKR 37.32 million.
📉 Profit before taxation decreased by -1% to PKR 141.08 million.
⬆️ Taxation increased by 32% to PKR 38.36 million.
📉 Profit after taxation decreased by -10% to PKR 102.71 million.
📉 Net Profit Ratio decreased from 9% to 6%.
📉 EPS decreased from PKR 4.57 to PKR 4.11.

🎯 Investment Thesis

HOLD. While SMCPL has demonstrated significant revenue growth, the declining profitability metrics are concerning. The increase in expenses relative to revenue indicates potential inefficiencies or rising costs. A HOLD recommendation is appropriate until the company can stabilize its profitability and improve its margins. The company needs to effectively manage its expenses and reduce the cost of sales to translate revenue growth into earnings growth. A further analysis is needed to determine if the current issues are one-time events or a sign of a long-term problem.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements CPPL Signal: SELL

📉 CPPL: SELL Signal (6/10) – 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 19, 2025, Mrs. Sakina Pesnani, the spouse of a director at Cherat Packaging Limited (CPPL), sold 500 shares of the company at a rate of 101.01 per share. The transaction was executed through the Central Depository Company (CDC). Following this sale, Mrs. Pesnani’s cumulative shareholding in CPPL is 4,000 shares, representing 0.0081% of the total shares.

Signal: SELL 📉

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🗓️ Transaction Date: November 19, 2025
👩‍💼 Insider: Mrs. Sakina Pesnani, spouse of a CPPL director
📉 Nature of Transaction: Sale of shares
🔢 Shares Sold: 500 shares
💰 Sale Price: 101.01 per share
🏦 Transaction Type: CDC
📊 Cumulative Holding: 4,000 shares
🤏 Percentage Holding: 0.0081%
📜 Regulatory Compliance: Disclosure under PSX Regulation 5.6.4
🏢 Company: Cherat Packaging Limited (CPPL)
🧑‍💼 Director Connection: Spouse of Mr. Akbarali Pesnani, a CPPL Director

🎯 Investment Thesis

Based on this single transaction, a HOLD rating is warranted. While the sale by the director’s spouse is not substantial, it does warrant further monitoring of insider trading activity. If consistent selling continues, a SELL rating might be considered. A BUY rating would require more positive indicators, such as strong financial performance and insider buying.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements GFIL Signal: SELL

📉 GFIL: SELL Signal (8/10) – Corporate Briefing Presentation – FY 2025

⚡ Flash Summary

Ghazi Fabrics International Limited (GFIL) reported its FY2025 results, revealing a significant downturn primarily attributed to plant shutdowns and minimal operations. Sales plummeted by 86.6% year-over-year, resulting in a notable operating loss. The company’s profitability ratios have deteriorated sharply, with gross profit, operating profit, and net profit margins all experiencing substantial negative shifts. While the company shows improved liquidity ratios, the overall financial health is concerning due to massive reduction in operations.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: LONG_TERM

📌 Key Takeaways

📉 **Revenue Decline:** Sales decreased by 86.6% from Rs 4,422.589 million in 2024 to Rs 594.031 million in 2025 due to plant shutdowns.
💔 **Gross Loss:** The company recorded a gross loss of Rs (289.056) million in 2025, compared to Rs (408.877) million in 2024.
⚠️ **Operating Loss:** Operating loss stood at Rs (370.457) million in 2025.
😭 **Loss After Tax:** Loss after tax was Rs (376.845) million in 2025, compared to Rs (687.002) million in 2024.
📉 **EPS Decline:** Loss per share (EPS) worsened to Rs (11.55) in 2025 from Rs (20.42) in 2024.
📉 **Gross Profit Margin:** The Gross Profit/(Loss)% decreased from (9.25)% in 2024 to (48.66)% in 2025.
📉 **Operating Profit Margin:** Operating Profit/(Loss)% declined from (13.23)% in 2024 to (62.36)% in 2025.
📉 **Net Profit Margin:** Net Profit/(Loss)% fell from (15.07)% in 2024 to (63.44)% in 2025.
🔄 **Inventory Turnover:** Inventory TO Ratio decreased from 11.12 times in 2024 to 7.47 times in 2025.
⬇️ **Current Assets:** Current assets decreased by 40.9% from Rs 786.287 million in 2024 to Rs 464.848 million in 2025.
⬇️ **Current Liabilities:** Current liabilities decreased significantly by 90.0% from Rs 490.470 million in 2024 to Rs 49.079 million in 2025.
⬆️ **Current Ratio:** Current ratio increased from 1.60 in 2024 to 9.47 in 2025.
🏭 **Fixed Assets:** Fixed assets decreased slightly by 2.6% from Rs 4,060.580 million in 2024 to Rs 3,956.253 million in 2025.
🔥 **Key Risk:** Textile sector faces major challenges including high exchange rates, increased power outages and high energy prices.

🎯 Investment Thesis

Based on the FY2025 results, a **SELL** recommendation is warranted for Ghazi Fabrics International Limited. The drastic decline in sales and profitability, coupled with significant operational and financial risks, indicates a challenging outlook. The improved liquidity isn’t sufficient to compensate for the deteriorating core business performance. A price target cannot be reliably established due to operational issues, but selling the stock seems appropriate until stability returns. Time horizon is until major operational restructuring shows sustainable results, likely **LONG_TERM**.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 12, 2025

announcements MUGHAL Signal: HOLD

⏸️ MUGHAL: HOLD Signal (5/10) – Corporate Briefing Presentation – FY 2025

⚡ Flash Summary

Mughal Steel’s FY2025 presentation reveals a mixed financial performance. Gross sales decreased slightly to Rs. 102,792 million, while profit for the year significantly declined to Rs. 965 million. EPS also dropped to Rs. 2.83. Despite challenges, the company highlights its key strengths, including sustainability initiatives and a resilient supply chain. The strategic decision to upgrade the Bar Mill and progress with Mughal Energy Limited are expected to contribute to future growth.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Gross sales decreased from Rs. 105,554 million to Rs. 102,792 million.
⚠️ Profit for the year declined significantly from Rs. 1,999 million to Rs. 965 million.
📉 Earnings per share (EPS) decreased from Rs. 5.96 to Rs. 2.83.
⬆️ EBITDA increased slightly from Rs. 7,553 million to Rs. 7,656 million.
⬆️ Profit before levies and taxation increased from Rs. 618 million to Rs. 1,357 million.
⬆️ Contribution to the national exchequer increased from Rs. 16,969 million to Rs. 18,236 million.
⬆️ Shareholders’ equity increased from Rs. 26,135 million to Rs. 28,819 million.
⬇️ Number of employees decreased from 2,216 to 2,080.
📉 Gearing ratio decreased from 56.96% to 49.31%.
⬆️ Break-up value per share increased from Rs. 77.87 to Rs. 78.17.
⬆️ Current ratio increased from 1.23 to 1.33.
✔️ Ferrous segment contributed 82% to overall revenue, increasing by 6.40% YoY.
❌ Non-Ferrous contribution decreased by 31.62%.
🌱 Focus on sustainability and ESG initiatives.
🔄 Strategic decision to upgrade the Bar Mill and progress with Mughal Energy Limited.

🎯 Investment Thesis

Based on the FY2025 results, a HOLD recommendation is appropriate for Mughal Steel. While the company has taken steps to improve efficiency and sustainability, the significant decline in profitability and EPS raises concerns. The strategic initiatives and potential for increased ferrous volumes offer some upside, but a more positive outlook will depend on improved financial performance and a more favorable economic environment. The price target needs to be revised downwards, and the time horizon is medium-term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 12, 2025

announcements LIVEN Signal: SELL

📉 LIVEN: SELL Signal (7/10) – Notice of Book Closure – Issuance of Right Share REVOKED

⚡ Flash Summary

Liven Pharma Limited has announced the revocation of their previously announced right shares issue. Consequently, the Share Transfer Books of the company will remain closed from November 24th, 2025, to November 25th, 2025, both days inclusive. This closure is intended to determine the entitlement of right shares that are no longer being issued. Transfers received by November 23rd, 2025, will be considered for the purpose of determining the now-revoked right shares entitlement.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

❌ Liven Pharma revokes planned right shares issuance.
🗓️ Share Transfer Books closure still set for November 24-25, 2025.
🏦 Closure is technically for determining right shares entitlement (now canceled).
➡️ Transfers by November 23rd, 2025, will be considered in vain.
🇵🇰 Announcement complies with PSX Rule Book Clause 5.6.9(b).
📰 Notice will be published in Pakistan Observer and Daily Pakistan on November 13th, 2025.
👨‍💼 Kaashif Hussain Siddiqie, CEO, signed the notice.
🏢 Registrar is M/S F.D. Registrar Services SMC (Pvt.) Ltd.
📍 Registrar located at Saima Trade Tower, I.I. Chundrigar Road, Karachi.
🤔 No clear reason provided for revoking right shares.

🎯 Investment Thesis

SELL. The revocation of the right shares issue raises concerns about Liven Pharma’s financial strategy and capital management. The lack of a clear explanation for the reversal creates uncertainty for investors. Price Target: A reduction of 15% from the current market price is warranted to account for the increased risk and uncertainty. Time Horizon: Short-term (3-6 months) to reflect immediate market reaction.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 12, 2025

announcements BNWM Signal: HOLD

⏸️ BNWM: HOLD Signal (5/10) – Presentation of Corporate Briefing Session 2025

⚡ Flash Summary

Bannu Woollen Mills Limited (BWM) held a corporate briefing session for the year ended June 30, 2025. The company reported sales revenue of Rs. 969 million, up from Rs. 891 million in the previous year. However, the company incurred a loss after tax of Rs. (98) million compared to a profit of Rs. 306 million in the prior year, resulting in a loss per share of Rs. (10.35). Management expects sales growth and improved profitability moving forward despite current macroeconomic challenges, recent floods, and rising costs.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

Incorporated in 1960, shares are quoted on the Pakistan Stock Exchange.
Company is engaged in manufacture and sale of woollen yarn, cloth and blankets. 🧶
Fixed assets are reported at Rs. 1.550 Billion. 💰
Staff strength is 501 employees. 👨‍💼👩‍💼
GDP Growth increased to 2.68% from 2.4%. 🌱
Inflation eased to 3.2% from 12.6%. 📉
Policy rate cut to 11%. ✂️
PKR remained stable at 284/US$. ₨
Stock in trade increased by 22.08% to Rs. 995.10 million. 📈
Trade debts decreased significantly by 70.89% to Rs. 36.71 million. 📉
Sales tax refundable increased by 85.23% to Rs. 29.84 million. ⬆️
Investments decreased by 9.63% to Rs. 1,039.23 million. 🔽
Sales Revenue increased from Rs. 891 million to Rs. 969 million. ⬆️
Company incurred a loss after tax of Rs. (98) million versus profit of Rs. 306 million. 💔
Loss / Earnings per share is (Rs/Share) (10.35) compared to 32.21 previously. 📉

🎯 Investment Thesis

Given the current loss-making situation, increasing creditor days, and negative EPS, a HOLD recommendation is appropriate. While revenue increased, the significant drop in profitability raises concerns. Management’s expectation of sales growth needs to be supported by concrete actions to improve operational efficiency and reduce costs. Price target cannot be accurately determined until profitability improves. Time horizon is medium-term (12-18 months) to allow for potential turnaround.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 12, 2025

announcements BAPL Signal: SELL

📉 BAPL: SELL Signal (7/10) – 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 December 11, 2025, Bawany Air Products Limited disclosed a transaction by a substantial shareholder, Weavers Pakistan (Pvt) Limited. Weavers Pakistan sold 571,500 shares on the ready market at a rate of PKR 38.46 per share. This sale reduces Weavers Pakistan’s cumulative shareholding in the company. Following the transaction, Weavers Pakistan holds 1,546,956 shares, representing 20.62% of the company.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📝 Weavers Pakistan (Pvt) Limited sold 571,500 shares of Bawany Air Products.
📅 The transaction occurred on November 11, 2025.
🏢 The market for the transaction was the ready market (CDC).
📉 The sale price was PKR 38.46 per share.
📊 After the sale, Weavers Pakistan holds 1,546,956 shares.
⚖️ The remaining stake represents 20.62% of Bawany Air Products.
📜 This disclosure is under PSX Regulation 5.6.4.
💼 Weavers Pakistan is categorized as a substantial shareholder.
📉 The transaction decreases Weavers Pakistan’s holdings in the company.
📢 The disclosure was made by Bawany Air Products Limited.
🏢 Bawany Air Products Limited is located in Karachi.
ℹ️ This information relates to the interest of relevant persons holding company shares.

🎯 Investment Thesis

SELL. Given the sale of shares by a substantial shareholder, there is a risk of negative market sentiment and potential downward pressure on the stock price. A substantial shareholder reducing their stake may indicate concerns about the company’s future prospects, leading to a more conservative valuation. The stock is expected to underperform in the short term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 12, 2025

announcements ASL Signal: HOLD

⏸️ ASL: HOLD Signal (5/10) – Aisha Steel Mills Limited – Corporate Briefing Presentation – 2025

⚡ Flash Summary

Aisha Steel Mills Limited (ASML) provided a corporate briefing for 2025. The company is a major producer of flat steel products with a name-plate capacity of 700,000 tons per annum. Steel demand in Pakistan showed strong recovery, increasing 84% from FY 2022-23 to FY 2024-25. The company’s sales increased in Q1 FY26 compared to the previous year; however, profitability declined significantly.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🏭 Aisha Steel Mills Limited (ASML) is a public limited company listed on the Pakistan Stock Exchange (PSX) since August 2012.
🇵🇰 ASML is part of Arif Habib Group, focusing on value-added flat-rolled steel in Pakistan.
🏢 The company operates a state-of-the-art steel rolling complex with a capacity of 700,000 tons per annum.
📈 Total steel demand in Pakistan rose by 84%, from 570,000 tons in FY 2022-23 to 1,049,000 tons in FY 2024-25.
⚠️ Local producers only saw a marginal 3% sales growth, while imports surged by 148% in the same period.
🚫 Sales tax exemptions for FATA/PATA regions drove import increases, which will face a 10% sales tax gradually increasing to 18% from FY 2025-26.
🛡️ The National Tariff Commission (NTC) extended Antidumping Duties (ADD) to alternate materials to address misdeclarations.
📦 Total quantity sold in Jul-Sep 2025 Qtr. was 43,376 tons, a 112% increase from 20,504 tons last year.
🌍 HRC prices fluctuated around US$ 475 FOB China during the July-September 2025 quarter.
📉 Kibor 3M decreased by -45.45% from Jul-24 to Sep-25.
💲 USD increased by 1.20% from Jul-24 to Sep-25.
💶 EURO increased by 10.70% from Jul-24 to Sep-25.
💴 JPY increased by 10.99% from Jul-24 to Sep-25.
🇨🇳 CNY increased by 2.75% from Jul-24 to Sep-25.
💸 Turnover of PKR 354+ billion generated and contributed PKR 71+ billion to the National ex-chequer.

🎯 Investment Thesis

HOLD. While the domestic steel demand is increasing, Aisha Steel Mills is struggling to maintain profitability. The declining revenue trend and increased competition from imports pose significant challenges. A HOLD recommendation is appropriate until the company demonstrates sustainable improvements in sales and profitability, showing that it can capitalize on the increased market demand.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 12, 2025

announcements BAPL Signal: HOLD

⏸️ BAPL: HOLD Signal (4/10) – Transmission of Annual Financial Statements for the Year Ended June 30, 2025

⚡ Flash Summary

Bawany Air Products Limited (BAPL) reported a net loss of PKR 54.049 million for the year ended June 30, 2025, a significant increase from the PKR 22.623 million loss in the previous year. This increase was primarily driven by expenses related to the enhancement of authorized capital, amounting to PKR 43.86 million. The company is shifting its business focus from gas manufacturing to investment and securities and has signed an agreement to acquire Alman Seyyam Sugar Mills (ASSML). A key positive is the removal of the company from the PSX non-compliant counter to the normal trading counter.

Signal: HOLD ⏸️

Strength: 4/10

Sentiment: NEGATIVE

Time Horizon: LONG_TERM

📌 Key Takeaways

⚠️ Net loss increased significantly to PKR 54.049 million in 2025 from PKR 22.623 million in 2024.
📉 Accumulated losses rose to PKR 104.279 million as of June 30, 2025.
💼 Business transformed from gas manufacturing to investment and securities.
🤝 Agreement signed to acquire 100% of Alman Seyyam Sugar Mills (ASSML).
💰 Authorized capital raised to PKR 11 billion.
🏭 ASSML’s 10,000 MT/day sugar plant is expected to generate dividends and enhance shareholder value.
📈 Company shifted from the PSX non-compliant counter to the normal trading counter.
✔️ Current assets grew substantially to PKR 3,184.701 billion in 2025.
❌ Revenue remains at zero.
📉 Negative earnings per share of (PKR 7.20).
✔️ Company intends to proceed with Right Shares after SECP’s approval.
⚠️ Auditors report on going concern due to losses and increase in authorised capital fee

🎯 Investment Thesis

Given the current financial performance and the speculative nature of the company’s future prospects, a HOLD recommendation is appropriate. The company’s future success is dependent on factors. The company is in transition and needs to demonstrate revenue growth and profitability before a more positive investment thesis can be considered. Price Target: Speculative and dependent on successful execution of new strategy.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 12, 2025

announcements DKTM Signal: SELL

📉 DKTM: SELL Signal (8/10) – Transmission of Quarterly Report for the Period Ended March 31,2024

⚡ Flash Summary

Dewan Khalid Textile Mills Limited (DKTM) reported its unaudited condensed interim financial results for the nine months ended March 31, 2024. The company’s operations remain suspended since August 2016 due to adverse industry conditions and working capital constraints, resulting in nil operational sales for the period. The financial statements have been prepared using the going concern assumption, as the company is in the process of restructuring its liabilities with lenders. The company sustained a loss after taxation of Rs. 33.583 million and had negative reserves of Rs. 757.023 million.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

🏭 Operations have been suspended since August 2016 due to adverse industry conditions and working capital constraints.
📉 Net loss after taxation for the nine months ended March 31, 2024, was Rs. 33.583 million.
⛔ Operational sales remained nil for the period due to the factory shutdown.
💰 The company has negative reserves of Rs. 757.023 million.
🤝 Company is in the process of restructuring liabilities with lenders.
⚠️ Financial statements are prepared using the going concern assumption.
🏛️ Compliance with Companies Act 2017 and corporate governance is maintained.
📊 Loss per share (basic and diluted) is reported at (Rs. 3.49).
🏦 Non-provisioning of markup on borrowings impacted loss by Rs. 58.927 million, a departure from IAS 23.
📉 Accumulated losses stand at Rs. (892,022,681).
🌱 Management expresses hope for resuming operations with optimized production capacity after restructuring.

🎯 Investment Thesis

Given the ongoing operational suspension, negative equity, and material uncertainty surrounding the company’s future, a SELL recommendation is warranted. The company’s ability to continue as a going concern is in serious doubt, and any potential upside is highly speculative and contingent upon successful debt restructuring and a full operational turnaround. Price target: Rs. 0. Time horizon: immediate.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 12, 2025

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