NEGATIVE - FoxLogica

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

⚡ Flash Summary

Dewan Mushtaq Textile Mills Limited’s recent quarterly report reveals significant challenges due to the ongoing suspension of manufacturing operations since July 2016. The company reported zero net revenue for the period ended March 31, 2024, compared to PKR 3.867 million in the corresponding period last year. This operational halt is attributed to adverse industry conditions and working capital constraints. The company is currently in discussions with lenders to restructure its liabilities, with management expressing hope for a finalized revision that will enable the resumption of operations.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

❌ Zero net revenue reported for the current period, compared to PKR 3.867 million last year due to factory shutdown.
🏭 Manufacturing operations have been suspended since July 2016.
💰 Accumulated losses stand at PKR 712.727 million as of March 31, 2024.
📉 The company reported a loss after taxation of PKR 20.033 million for the nine months ended March 31, 2024.
⚠️ Material uncertainty exists regarding the company’s ability to continue as a going concern.
🤝 Currently restructuring liabilities with lenders, hoping for a positive resolution.
🌐 The company’s future outlook is tied to political firmness and economic stability in the country.
🏢 Negative reserves totaling PKR 667.227 million have been recorded, impacting overall equity.
🛑 Short-term borrowing facilities with a limit of PKR 100 million have expired and not been renewed.
📉 Loss per share (basic and diluted) is reported as PKR (1.73).
🏭 Property, plant, and equipment have a net book value of PKR 792.236 million.
💵 Cash and bank balances remain low at PKR 3.472 million.
❌ Finance cost not provided on long term and short term borrowings resulting in a departure from IAS 23 standards
📉 Trade debts decreased to PKR 10.755 million from PKR 14.244 million

🎯 Investment Thesis

Due to the persistent operational shutdown, mounting losses, and uncertainty surrounding the company’s ability to restructure its liabilities, a SELL recommendation is warranted. The lack of revenue generation and strained financial position make it unlikely that the company will deliver positive returns in the foreseeable future. The price target cannot be accurately determined due to the current challenges.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 11, 2025

announcements FTSM Signal: HOLD

⏸️ FTSM: HOLD Signal (5/10) – Presentation for Corporate Briefing Session

⚡ Flash Summary

First Tri-Star Modaraba’s corporate briefing session for 2025 reveals a mixed financial performance. The company’s authorized and paid-up capital stand at PKR 400 million and PKR 212 million respectively, with equity of Modaraba at Rs. 411 million as of June 30, 2024. Net loss increased significantly in 2025, reaching (13,613,277) compared to a profit of 506,883 in 2024. This resulted in a negative earnings per share of (0.710) in 2025. The presentation highlights the vision for future growth through its educational institution and international collaborations.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🏢 First Tri-Star Modaraba was formed in 1980 and is managed by A.R.T. Modaraba Management (Private) Limited.
🇵🇰 The company is listed on the Pakistan Stock Exchange Limited.
Authorized capital is PKR 400 million, and paid-up capital is PKR 212 million.
💰 Equity of Modaraba is Rs. 411 million as of June 30, 2024.
📉 Net loss for the year 2025 is (13,613,277) compared to a profit of 506,883 in 2024.
📉 Accumulated Profit/(Loss) decreased from 96,110,458 in 2024 to 38,754,359 in 2025.
📉 Operating Profit/Loss Ratio decreased from 0.02 in 2024 to (0.38) in 2025.
📉 Net Profit/Loss Ratio decreased from 0.05:1 in 2024 to (0.42):1 in 2025.
📊 Earning/(Loss) Per Share decreased from 0.080 in 2024 to (0.710) in 2025.
📊 Breakup value per Share decreased from 19.41 in 2024 to 16.70 in 2025.
💵 Reserves decreased from 199,102,738 in 2024 to 141,746,639 in 2025.
🤝 The company is running an educational institution (Imperial Tutorial College) and collaborating with Nişantaşı University, Turkey.

🎯 Investment Thesis

Based on the current financial performance and associated risks, a HOLD recommendation is appropriate for First Tri-Star Modaraba. The significant net loss, declining profitability ratios, and reduced shareholder value indicators raise concerns about the company’s short-term prospects. While the company’s educational initiatives and international collaborations present potential growth opportunities, the current financial instability outweighs these positives. A price target cannot be reliably established due to the volatility and negative earnings. The time horizon for this recommendation is medium-term, pending significant improvements in financial performance and profitability.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 11, 2025

announcements Signal: HOLD SNAI

⏸️ SNAI: HOLD Signal (5/10) – Prsentation of Corporate Briefing Session 2025

⚡ Flash Summary

Sana Industries Limited (SIL) reported a drop in revenues by 25+% in 2025. Gross profits decreased from PKR 300.43 million in 2024 to PKR 203.36 million in 2025. However, other income increased by PKR 321 million, mainly from investment property. The company is focusing on transitioning towards renewable energy and gradual settlement of bank borrowings to enhance profitability and cash flow stability.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Revenue declined by 25+% in 2025.
💰 Gross Profits decreased to PKR 203.36 million from PKR 300.43 million in 2024.
📊 Gross Profit margin increased slightly from 7.9% to 8.4%.
⚡️ Energy to rest of COS ratio improved from 75:25 to 65:35.
💸 EBITDA decreased from PKR 196.19 million to PKR 116.92 million.
🏦 Finance Costs decreased from PKR 249.99 million to PKR 192.98 million.
⬆️ Other receivables increased by PKR 276 million.
⬇️ Short term loans decreased by PKR 95 million.
🏢 Investment Properties of BV Rs. 99M were sold.
💡 Loans and Advances increased by PKR 113 million.
🌱 Focus on transitioning to renewable energy for cost reduction.
🏦 Gradual settlement of bank borrowings to reduce leverage.
✅ Aim to enhance profitability and cash flow stability in coming quarters.
✨ Net profit after tax (% to sales) improved from -2% to 5%.

🎯 Investment Thesis

HOLD. The company’s financials show a decline in revenue and EBITDA. While there are efforts to improve profitability through energy management and debt reduction, the current financial performance does not warrant a buy recommendation. A sell recommendation is not appropriate either, as the company is taking steps to address its challenges. A hold rating is more suitable until there’s evidence that these initiatives are positively impacting revenue and profitability. The price target is dependent on successful execution of the energy management and debt reduction strategies. Further analysis of future performance is warranted.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 11, 2025

announcements GCWL Signal: SELL

📉 GCWL: SELL Signal (7/10) – Disclosure of Interest under PSX Regulation No. 5.6.4

⚡ Flash Summary

Ghani ChemWorld Limited (GCWL) disclosed a transaction by Ghani Chemical Industries Limited, an associated company, on November 11, 2025. The transaction involved the sale of 50,000 shares of GCWL. The nature of the transaction is classified as a ‘SELL’, and the shares were physically settled. This disclosure is in compliance with PSX Regulations 5.6.1.(d) and will be presented in a subsequent board meeting for consideration.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📝 GCWL announced disclosure of interest under PSX Regulation 5.6.4.
📅 Announcement date: November 11, 2025.
🏢 Transaction executed by Ghani Chemical Industries Limited (associated company).
📉 Transaction involved selling 50,000 shares of GCWL.
📜 Form of share certificates: Physical.
🗓️ Transaction date: October 11, 2025.
🤝 Nature of transaction: SELL.
💲 Rate per share: 18.40 (Units not specified).
📊 Cumulative shareholding percentage not disclosed.
✅ Transaction to be presented in the subsequent board meeting.
🚦 Compliance with PSX Regulations 5.6.1.(d) confirmed.
🏢 Company Secretary: FARZAND ALI.

🎯 Investment Thesis

Based on the information available, a SELL signal is appropriate. While the sale of 50,000 shares may not drastically alter GCWL’s fundamentals, the negative sentiment associated with insider selling could pressure the stock price. Further analysis of GCWL’s financials and broader market conditions is recommended. Price target and time horizon depend on overall market trends.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 11, 2025

announcements KSTM Signal: SELL

📉 KSTM: SELL Signal (8/10) – Corporate Briefing Session-2025

⚡ Flash Summary

Khalid Siraj Textile Mills Limited (KSTM) held a corporate briefing session on November 11, 2025, to discuss the company’s performance for the financial year ending June 30, 2025. The company reported a significant loss before taxation of -24.59 million, a substantial decline from the -6.95 million loss in the previous year. Similarly, the net loss after taxation widened to -19.32 million from -13.72 million. This negative performance is attributed to various economic uncertainties and challenges within the textile sector.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 KSTM’s loss before taxation widened to -24.59 million in 2025.
📉 Net loss after taxation increased to -19.32 million in 2025.
🚫 No revenue was generated in 2025, same as 2024.
⚠️ Other operating income decreased by -20.41 million (-34%) in 2025.
🏢 Administrative expenses decreased slightly by 0.13 million (-17%).
⚙️ Other operating expenses decreased by -2.33 million (-12%).
💰 Finance costs increased by 0.04 million (92%).
🇵🇰 Devaluation of the Pakistani Rupee cited as a major challenge.
⚡ Energy crisis remains a concern for the company.
🌍 Stiff competition and reduced textile imports by the US & EU pose additional challenges.
✅ Management aims to improve operational performance through cost-effective niche marketing.
🤝 Hopes for positive impact from changes in government policies and facilitation of the textile sector.
📊 Number of outstanding shares remained constant at 107,000 shares.
📉 Negative owner’s equity worsened from -57.922 million to -77.244 million
📉 Earning per share also decreased from -1.28 to -1.81

🎯 Investment Thesis

Given the deteriorating financial performance, absence of revenue, and various operational and market risks, a SELL recommendation is warranted. The company’s negative owner’s equity and widening losses make it an unattractive investment. The lack of a clear turnaround strategy and dependence on external factors further reinforce the negative outlook. While the management expresses optimism, the current financial situation indicates a high probability of continued losses and challenges. The price target is set significantly below current levels, reflecting the distressed nature of the company.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 11, 2025

announcements LSEFSL Signal: SELL

📉 LSEFSL: SELL Signal (8/10) – Transmission of Quarterly Report for the Period Ended September 30, 2025

⚡ Flash Summary

LSE Financial Services Limited (LSEFSL) reported a Loss after tax of Rs. 16.484 million for the quarter ended September 30, 2025, a significant downturn compared to a Profit after tax of Rs. 8.361 million in the same quarter of the previous year. This resulted in a basic and diluted loss per share of Rs. (0.46) compared to earnings per share of Rs. 0.23 in the corresponding period. The company is undergoing a strategic shift following the surrender of its NBFC license and a focus on investments in securities and real assets. A court-approved scheme involves the transfer of assets and liabilities and reconstruction of share capital.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Loss after tax: Rs. 16.484 million, a sharp contrast to last year’s profit.
📉 EPS: Negative Rs. (0.46) vs. positive Rs. 0.23 last year.
📝 Strategic Shift: Surrendered NBFC license, focusing on investment in securities and real assets.
🏛️ Court Approval: Scheme of Compromises, Arrangement and Reconstruction approved.
🤝 Merger: Scheme of Compromises, Arrangement and Reconstruction with Digital Custodian Company Limited.
💼 Asset Transfer: Transfer of designated assets and liabilities as per court order.
🔄 Share Reconstruction: Reconstruction of share capital and reserves.
🏢 Business Change: Shift in principal line of business towards investments.
📜 Regulatory Compliance: Adhering to Companies Act, 2017.
🏦 Long Term Finance: Maintained Long Term Finance of Rs 7.391 million.
📉 Revenue: Revenue decreased from Rs. 8.901 million to Rs 7.262 million.
⬆️ Other Income: Other Income decreased from Rs. 6.698 million to Rs 2.457 million.

🎯 Investment Thesis

SELL. LSEFSL’s current financial performance is weak, and the strategic shift introduces significant uncertainty. The transition from an NBFC to an investment-focused entity carries execution risks. The negative EPS and declining revenue raise concerns about the company’s ability to generate returns in the near term. Price Target: Rs 5.00 Time Horizon: 12 months. The price target reflects potential further declines given the challenging circumstances.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 11, 2025

announcements LSEFSL Signal: HOLD

⏸️ LSEFSL: HOLD Signal (6/10) – Transmission of Annual Report for the Year Ended June 30, 2025

⚡ Flash Summary

LSE Financial Services Limited (LSEFSL) reported a significant strategic shift for the year ending June 30, 2025, including surrendering its NBFC license and focusing solely on general investment activities. The company executed a Scheme of Compromises, Arrangement, and Reconstruction with Digital Custodian Company Limited. Financial performance showed a decrease in operating income from PKR 39.348 million to PKR 30.790 million and a decrease in net profit from PKR 61.268 million to PKR 18.186 million. Despite the decline, the company remained committed to Corporate Social Responsibility and Environmental Management.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Operating Income decreased from PKR 39.348 million to PKR 30.790 million.
😔 Net Profit significantly dropped from PKR 61.268 million to PKR 18.186 million.
❌ No cash dividend was recommended for 2025, compared to PKR 0.5 per share in 2024.
⚠️ Earnings per share (EPS) declined from PKR 1.72 to PKR 0.51.
👍🏽 Equity + Revaluation Surplus saw a slight increase from PKR 453.735 million to PKR 456.979 million.
👍🏽 Net Asset value increased slightly from PKR 453.735 million to PKR 456.979 million.
👎 Total Assets decreased from PKR 544.414 million to PKR 489.180 million.
👎 Total Liabilities decreased substantially from PKR 90.679.55 million to PKR 32.200.63 million.
👍🏽 The benchmark KSE-100 Index registered a phenomenal growth of 57.79%.
💼 LSEFSL surrendered its NBFC License and shifted focus to general investment activities.
🤝 Scheme of Compromises, Arrangement, and Reconstruction with Digital Custodian Company Limited was executed.
🤝 VIS Credit Rating Company Limited reaffirmed the entity ratings of LSEFSL at ‘A/A-1’.
✅ Compliance with the Code of Corporate Governance was duly ensured.

🎯 Investment Thesis

Given the substantial decline in profitability and uncertainties surrounding the strategic shift, a HOLD recommendation is appropriate. The company needs to demonstrate a successful transition to general investment activities and a return to sustainable profitability before a more positive outlook can be considered. The price target rationale is based on needing more information. The time horizon is MEDIUM_TERM, pending a turnaround in financial performance.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 11, 2025

announcements Signal: HOLD

⏸️ PPL: HOLD Signal (6/10) – PPL Analyst Briefing Presentation 2025

⚡ Flash Summary

PPL’s Analyst Briefing Presentation 2025 reveals a challenging period with declining sales and profitability. Revenue decreased by 16% to PKR 243 billion, primarily due to gas curtailment and lower crude oil prices. Net profit fell by 19% to PKR 92 billion despite some offsetting factors like insurance claims and reduced exploration expenses. The company is focusing on exploration, development, and strategic initiatives like the Reko Diq project to mitigate risks and enhance future performance.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Revenue decreased by 16% YoY to PKR 243 billion due to gas curtailment and lower crude prices.
⚠️ Net profit declined by 19% YoY to PKR 92 billion, impacting profitability.
⛽ PPL’s share of local gas production is approximately 19% (~0.56 Bcfd).
🛢️ PPL’s share of local oil production is around 16% (10.1 KBOPD).
💰 Customer collections improved to 91% compared to 81% in the prior year.
⛏️ Reko Diq’s feasibility study has been completed, with financial close in progress.
🧰 Signed PCA with ADNOC for development of pre-existing discoveries.
✅ Achieved 129% Reserve Replacement Ratio (2P).
🔍 Awarded 2 new Exploration Blocks.
📊 Trade debts increased to PKR 592 billion.
🌱 The production forecast is estimated to be between 600-650 MMscfde, depending on gas curtailment.
🌍 Active seismic campaign of ~700 line km 2D and ~600 Sq km 3D acquisition is underway.
🚧 Exploration and appraisal wells planned in Kandhkot, Shah Bandar, Gambat South, and Sirani.
🏢 Total authorized capital is PKR 35 billion, while subscribed capital stands at PKR 27.21 billion.
🤝 Government of Pakistan holds 67.5% shareholding

🎯 Investment Thesis

HOLD. The decline in revenue and profitability raises concerns. While the company is taking steps to mitigate risks and enhance future performance through strategic projects, the near-term outlook remains challenging. The investment decision should depend on the successful execution of these initiatives and a recovery in oil prices. Price target dependent on future earnings growth.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 10, 2025

announcements Signal: HOLD

⏸️ TOMCL: HOLD Signal (6/10) – Corporate Briefing Session FY25

⚡ Flash Summary

The Organic Meat Company Limited (TOMCL) held a corporate briefing session for FY25, revealing a mixed financial performance. While revenue increased significantly by 18.72% to PKR 14,006.07 million, profitability metrics declined. Gross profit decreased by 18.84% to PKR 1,281.54 million, and profit after tax fell by 13.59% to PKR 429.79 million. This divergence between revenue growth and profitability decline warrants further investigation into the factors impacting margins.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

⬆️ Revenue increased by 18.72% from PKR 11,797.75 million in FY24 to PKR 14,006.07 million in FY25.
📉 Gross Profit decreased by 18.84% from PKR 1,579.04 million in FY24 to PKR 1,281.54 million in FY25.
📉 Profit Before Tax decreased by 5.94% from PKR 644.52 million in FY24 to PKR 606.27 million in FY25.
📉 Profit For The Year decreased by 13.59% from PKR 497.37 million in FY24 to PKR 429.79 million in FY25.
📉 Earnings Per Share (EPS) decreased by 17.61% from PKR 3.35 in FY24 to PKR 2.76 in FY25.
⬇️ Real EPS (adjusted) decreased by 1.43% from PKR 2.80 in FY24 to PKR 2.76 in FY25.
📉 Finance Cost decreased by 33.57% from PKR 231.49 million in FY24 to PKR 153.77 million in FY25.
⬆️ Other Income increased significantly by 183.64% from PKR 87.02 million in FY24 to PKR 246.82 million in FY25.
🏭 The company’s operational facilities include a slaughter-house, processing facility, and fattening farm on 16.352 acres in Gadap, Karachi.
🌍 TOMCL has expanded its market reach, including recent additions like Tajikistan.
✅ VIS Credit Rating Company Limited upgraded TOMCL’s ratings to ‘A/A-1’ from ‘A-/A-2’.
🚧 Taxation has significantly increased from 1% on Turnover to 39% of Profit.
🥩 TOMCL secured USD 3.24 Million of Frozen Boneless Beef Export Orders from New CIS Market – Tajikistan
🇨🇳 TOMCL secured USD 7.5 Million Export Orders from China for Cooked Frozen Boneless Beef for FY 2025-2026
🇦🇪 TOMCL succesfully negotiated and entered into a new export contract of US$ 8.1 million with Gold Crest Trading FZE, UAE for the export of frozen boneless beef

🎯 Investment Thesis

Based on the information provided, a HOLD recommendation is warranted. While the revenue growth is encouraging, the decline in profitability raises concerns about TOMCL’s ability to manage costs and maintain margins. Further analysis is needed to understand the underlying causes of the profitability decline and assess the company’s long-term prospects. The current share price does not reflect the decline in profitability and hence price needs to adjust to factor in the same. I would recommend revisiting with revised financials, in 6 months.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 10, 2025

announcements SGPL Signal: SELL

📉 SGPL: 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 10, 2025, S.G. Power Limited disclosed that Mr. Sohail Ahmed, the Chief Executive/Director, executed a sale of 12 shares of the company on July 11, 2025. The shares were sold at a rate of Rs. 12.3 per share. The shares were held in CDC form. This transaction will be presented to the Board for consideration as per PSX Regulations.

Signal: SELL 📉

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🚨 Director/CEO Sohail Ahmed sold shares.
🗓️ Transaction date: July 11, 2025.
📉 Nature of transaction: Sale.
🔢 Number of shares sold: 12.
💰 Sale rate: Rs. 12.3 per share.
🏦 Shares held in CDC form.
📜 Disclosure made on November 10, 2025.
🏢 Company: S.G. Power Limited.
📌 Transaction to be presented to the Board.
🇵🇰 PSX Regulations compliance.
👨‍💼 Sohail Ahmed’s position: Chief Executive/Director.
📑 Disclosure u/c 5.6.1.(d) of PSX Regulations.

🎯 Investment Thesis

Based on the disclosure of a director selling a small number of shares, a HOLD recommendation is appropriate. While the transaction itself is not significantly impactful, it warrants monitoring for further insider selling activity. A BUY or SELL recommendation would require a more thorough analysis of S.G. Power’s financials and market position. The price target is difficult to determine without a full valuation, so it is kept at the current price. Time horizon is MEDIUM_TERM until more information is available.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 10, 2025

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