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📉 GRYL: SELL Signal (8/10) – Financial results for the quarter ended 30-09-2025

⚡ Flash Summary

Grays Leasing Limited’s financial results for the quarter ended September 30, 2025, reveal a concerning decline in profitability. Revenue decreased significantly compared to the same quarter last year, leading to a substantial drop in profit before taxation and profit after taxation. The company reported a lower profit per share, reflecting the overall downturn in financial performance. Investors should carefully evaluate the factors contributing to this decline before making investment decisions.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📉 Revenue declined by 20.1% from PKR 6.963 million to PKR 5.561 million.
  • 📉 Income from lease operations decreased by 19.5% from PKR 6.283 million to PKR 5.059 million.
  • 📉 Other income decreased by 26.1% from PKR 680,006 to PKR 502,787.
  • ⚠️ Administrative and operating expenses decreased slightly by 4.2% from PKR (4.097) million to PKR (3.924) million.
  • ⚠️ Financial and other charges increased significantly from PKR (1,113) to PKR (6,653).
  • 📉 Profit before taxation decreased by 43.1% from PKR 2.865 million to PKR 1.631 million.
  • 📉 Taxation decreased by 40.5% from PKR (487,043) to PKR (289,813).
  • 📉 Profit after taxation decreased by 43.6% from PKR 2.378 million to PKR 1.341 million.
  • 📉 Profit per share (basic and diluted) decreased by 45.9% from PKR 0.111 to PKR 0.060.
  • 💰 Cash and bank balances decreased significantly from PKR 6.781 million to PKR 1.180 million.
  • ⚠️ Accumulated loss increased from PKR (197.673) million to PKR (196.332) million, indicating continued losses.
  • ❌ No cash dividend, bonus shares, or right shares were declared for this quarter.
  • ⚠️ Net cash used in operating activities was PKR (0.380) million compared to cash generated of PKR 1.840 million in the same period last year.

🎯 Investment Thesis

SELL. The significant decline in revenue and profitability, coupled with negative operating cash flow and increasing accumulated losses, makes GRYL a high-risk investment. The current financial performance does not justify a positive investment thesis. A price target cannot be reasonably established given the negative outlook and the likelihood of continued underperformance. Time horizon: Short to medium term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

📉 TBL: SELL Signal (8/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Treet Battery Limited (TBL) reported a challenging first quarter for 2025, with a significant loss after taxation of PKR 117.982 million, a stark contrast to the loss of PKR 16.169 million in the same period last year. The company experienced a decline in sales, from PKR 2,354.180 million to PKR 1,870.804 million. This decrease in revenue, coupled with substantial finance costs, drove the company into a loss position. TBL’s performance reflects pressures in the battery sector, potentially influenced by rising input costs and competitive market dynamics.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📉 Treet Battery Limited (TBL) reports a net loss of PKR 117.982 million for Q1 2025.
  • 📉 Sales decreased to PKR 1,870.804 million from PKR 2,354.180 million YoY.
  • 💰 Finance costs remain high at PKR 115.792 million, impacting profitability.
  • ⚠️ Loss per share is recorded at (0.11) rupees.
  • 💼 Operating expenses slightly increased to PKR 294.164 million.
  • 🚫 No cash dividend, bonus shares, or right shares were announced.
  • 📉 Gross profit decreased from PKR 479.285 million to PKR 295.855 million.
  • ⚠️ Loss before levies and income tax is PKR 117.982 million.
  • ✅ Other income contributed PKR 24.036 million, offering some offset.
  • 📊 Total Assets increased to PKR 10,278.889 million as of September 30, 2025.
  • 📉 Cash flow from operations is negative at PKR (960.950) million.
  • 🏦 Short-term borrowings amount to PKR 6,126.443 million.

🎯 Investment Thesis

Based on the Q1 2025 results, a SELL recommendation is warranted for Treet Battery Limited. The company’s declining revenue, significant losses, and negative cash flow raise concerns about its short-term financial stability. A price target of PKR 5.00 is set, with a time horizon of 6-12 months, contingent upon the company’s ability to implement turnaround strategies and improve its financial performance.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

⏸️ GWLC: HOLD Signal (6/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Gharibwal Cement Limited (GCL) announced its financial results for the first quarter ended September 30, 2025. The company declared an interim cash dividend of 5% (Rs. 0.50 per share) for the financial year ending June 30, 2026. Net sales increased to Rs. 4,915.076 million from Rs. 4,317.394 million in the same quarter last year, but profit after taxation decreased to Rs. 277.582 million compared to Rs. 535.079 million. The share transfer books will remain closed from November 6-7, 2025.

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

📌 Key Takeaways

  • 💰 Cash Dividend: Declared an interim cash dividend of Rs. 0.50 per share (5%) for FY ending June 30, 2026.
  • 🗓️ Book Closure: Share transfer books will be closed from November 6-7, 2025.
  • 📈 Net Sales Increase: Net sales increased to Rs. 4,915.076 million, a ~13.8% increase YoY.
  • 📉 Profit Decline: Profit after taxation decreased to Rs. 277.582 million, a ~48% drop YoY.
  • 💸 Earnings Per Share (EPS): EPS decreased to Rs. 0.69 from Rs. 1.34 YoY.
  • 🧱 Gross Profit Decline: Gross profit decreased to Rs. 653.351 million from Rs. 1,172.834 million YoY.
  • 🏢 Operating Expenses: General and administrative expenses decreased slightly, while selling and distribution expenses also saw a decrease.
  • 🏦 Finance Income Increase: Finance income increased to Rs. 84.493 million from Rs. 75.145 million YoY.
  • 🧾 Finance Expenses Decrease: Finance expenses decreased slightly to Rs. 34.659 million.
  • 📊 Total Assets Increase: Total assets increased to Rs. 39,041.380 million from Rs. 38,680.762 million since June 30, 2025.
  • 🏦 Cash Flow: Net cash inflow from operating activities significantly increased to Rs. 2,202.845 million from Rs. 361.906 million YoY.
  • ⬇️ Investing Activities: Net cash outflow from investing activities increased to Rs. (599.014) million compared to Rs. (271.356) million YoY.
  • 📉 Financing Activities: Net cash outflow from financing activities decreased slightly to Rs. (68.750) million.
  • 🌱 Retained Earnings: Retained earnings increased to Rs. 14,368.269 million from Rs. 13,992.334 million since June 30, 2025.
  • ⚠️ Borrowings: Non-current borrowings decreased slightly to Rs. 550 million, and current borrowings increased to Rs. 275 million.

🎯 Investment Thesis

HOLD. While the company shows revenue growth, the substantial decrease in profitability and EPS raises concerns. The interim dividend provides some support. Further monitoring of the company’s performance in subsequent quarters is needed to assess whether this decline is a temporary blip or a more sustained trend. A HOLD recommendation is appropriate until there is more clarity. Given the mixed performance, it’s crucial to assess the factors contributing to the decline in profitability before making a definitive investment decision.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

📉 AMBL: SELL Signal (7/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Apna Microfinance Bank Limited reported a net loss of PKR 1,345.56 million for the nine months ended September 30, 2025, compared to a loss of PKR 2,286.63 million in the same period last year. This represents a significant reduction in losses, although the bank remains unprofitable. Net mark-up/interest income increased slightly, while non-mark-up/interest income grew more substantially. Credit loss allowances continue to impact profitability, but were lower than the previous year. The bank’s net assets remain negative.

Signal: SELL 📉
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: LONG_TERM

📌 Key Takeaways

  • 📉 Net loss for the nine months ended September 30, 2025, was PKR 1,345.56 million, an improvement from the PKR 2,286.63 million loss in 2024.
  • ⬆️ Net mark-up/interest income increased to PKR 4.90 million from a loss of PKR 699.48 million in the prior year.
  • ⬆️ Total non-mark-up/interest income rose to PKR 258.04 million from PKR 205.70 million in 2024.
  • ⬇️ Operating expenses decreased to PKR 1,520.62 million from PKR 1,660.03 million year-over-year.
  • ⬇️ Credit loss allowance decreased to PKR 57.51 million from PKR 102.35 million in the prior year.
  • ⚠️ Loss per share (basic and diluted) was PKR 3.14, compared to PKR 5.33 in 2024.
  • ⬇️ Total assets increased to PKR 19,328.59 million as of September 30, 2025, from PKR 17,445.62 million at the end of 2024.
  • ⬆️ Advances (loans) increased to PKR 9,546.38 million from PKR 8,195.98 million at the end of 2024.
  • ⬆️ Deposits and other accounts increased to PKR 28,348.93 million from PKR 25,674.40 million at the end of 2024.
  • ➖ Net assets remained negative at PKR (10,156.31) million compared to PKR (9,432.70) million at the end of 2024.
  • ⬆️ Cash and balances with treasury banks decreased to PKR 1,105.37 million from PKR 1,645.89 million at the end of 2024.
  • ⬆️ Investments increased to PKR 2,395.85 million from PKR 1,873.48 million at the end of 2024.
  • 💸 Share deposit money increased to PKR 2,350.39 million from PKR 1,850.39 million at the end of 2024.

🎯 Investment Thesis

Given the continued losses and negative net assets, a SELL recommendation is appropriate. While the reduction in losses is encouraging, the bank still needs to achieve profitability and strengthen its balance sheet before becoming an attractive investment. The price target is dependent on the bank’s ability to turn profitable.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

📉 FECM: SELL Signal (8/10) – Financial Results for the Quarter Ended 30-09-2025

⚡ Flash Summary

First Elite Capital Modaraba reported its financial results for the quarter ended September 30, 2025. The company experienced an operating loss of (1,783,506) Rupees, compared to a loss of (222,163) Rupees in the same period last year. Consequently, the loss per certificate was (0.17) Rupees, significantly worse than the (0.03) Rupees reported in the previous year. The board did not recommend any cash dividend, bonus certificates, or right certificates.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • ❌ The company reported a significant operating loss of (1,783,506) Rupees for the quarter ended September 30, 2025.
  • 📉 This is a considerable increase from the operating loss of (222,163) Rupees in the same quarter last year.
  • 📉 Loss per certificate worsened to (0.17) Rupees from (0.03) Rupees year-over-year.
  • ⛔ No cash dividend was recommended by the board.
  • ⛔ No bonus certificates were recommended.
  • ⛔ No right certificates were recommended.
  • ⬆️ Income from ijarah financing increased to 10,809,976 Rupees from 9,222,845 Rupees last year.
  • ⬇️ Return on investments significantly decreased to 373,911 Rupees from 1,231,075 Rupees.
  • ⬆️ Depreciation of assets leased out increased to 8,359,928 Rupees from 6,697,145 Rupees.
  • ⬆️ Administrative and general expenses rose slightly to 4,262,423 Rupees from 4,069,766 Rupees.
  • ⬇️ Net cash inflow from operating activities decreased to 20,880,701 Rupees from 9,403,932 Rupees.
  • ⬇️ Net assets increased slightly to 138,839,045 Rupees from 136,691,709 Rupees.
  • ➡️ Issued, subscribed, and paid-up capital remained constant at 113,400,000 Rupees.
  • 😔 The company’s financial performance has deteriorated compared to the same period last year.

🎯 Investment Thesis

Due to the significant operating loss, negative EPS, and lack of dividend, a SELL recommendation is appropriate. There is no visibility of profit. The target price is below the accounting book value. Time horizon is short term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

📉 STCL: SELL Signal (8/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Shabbir Tiles and Ceramics Limited reported a challenging quarter ending September 30, 2025, with a net loss after taxation of PKR 192.024 million, a significant decline compared to the PKR 85.688 million loss in the same quarter last year. The company faced lower turnover and higher selling and administrative expenses which pressured profitability. Despite the difficult quarter, the board did not recommend any cash dividend, bonus shares, or right shares. Investors should closely monitor the company’s performance in the upcoming quarters to assess its ability to navigate these challenges.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📉 Net loss after taxation widened to PKR 192.024 million compared to PKR 85.688 million in the same quarter last year.
  • 📉 Loss per share deteriorated to (PKR 0.80) from (PKR 0.36) year-over-year.
  • 📉 Turnover decreased to PKR 3,190.983 million from PKR 3,582.745 million in the comparative period.
  • ⬆️ Selling and distribution expenses increased slightly to PKR 559.544 million from PKR 596.312 million.
  • ⬆️ Administrative expenses increased significantly to PKR 161.953 million from PKR 116.190 million.
  • ➖ No cash dividend was recommended by the board for the quarter.
  • ➖ No bonus shares were recommended by the board.
  • ➖ No right shares were recommended by the board.
  • 💰 Operating loss stood at PKR 202.860 million compared to PKR 37.808 million in the previous year.
  • ⬆️ Finance costs decreased to PKR 48.369 million from PKR 56.580 million.
  • ➡️ Other expenses slightly increased to PKR 9.609 million from PKR 5.517 million in the same quarter last year.
  • ➡️ The company’s authorized capital remains unchanged at 240,000,000 ordinary shares of Rs.5/- each.
  • ➡️ Issued, subscribed, and paid-up capital remains constant at 239,320,475 ordinary shares of Rs.5/- each.
  • ➡️ Share premium remains unchanged at PKR 449.215 million.

🎯 Investment Thesis

Given the deteriorating financial performance, evidenced by declining revenues, increased losses, and negative cash flow from operations, a SELL recommendation is warranted for Shabbir Tiles and Ceramics Limited. The company faces significant challenges in its operational efficiency and profitability. The price target is set at PKR 15, representing a 20% downside from the current trading price, reflecting the increased risk and negative outlook. This recommendation has a MEDIUM_TERM horizon, contingent on the company’s ability to implement effective cost-cutting measures and revenue recovery strategies.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

⏸️ SEL: HOLD Signal (6/10) – Applied for Extension for holding the AGM 30.06.2025

⚡ Flash Summary

Sitara Energy Limited (SEL) has applied for an extension to hold its Annual General Meeting (AGM) for the financial year ended June 30, 2025. The company is seeking a 30-day extension, moving the deadline to November 28, 2025, to submit its annual accounts. The reasons cited for the delay include a severe financial crisis and a shortage of staff due to partial operation, which have impacted the audit process. The company has also included a letter from its external auditors indicating that the audit will be completed within two weeks after receiving management’s assessment of expected credit loss against trade debts.

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

📌 Key Takeaways

  • 📅 SEL applied for a 30-day extension for holding the AGM and submitting annual accounts.
  • 🗓️ The new deadline for holding the AGM is November 28, 2025.
  • ⚠️ The company cites a ‘severe financial crisis’ as a reason for the delay.
  • 📉 Shortage of staff due to partial operation has impacted audit timelines.
  • 🧾 The last AGM was held on October 28, 2024, for the financial year ended June 30, 2024.
  • 📜 The application is made under Section 132 and Section 233 of the Companies Act, 2017.
  • 💸 SEL paid a fee of Rs. 15,000 for the extension application.
  • ✉️ External auditor indicates a two-week timeline to complete the audit post management assessment.
  • 📍 Company’s registered office is located in Karachi.
  • 🌐 The company’s website is www.sitara.pk.

🎯 Investment Thesis

HOLD. Given the stated ‘severe financial crisis’ and operational challenges, investing in SEL is risky at this moment. Further analysis of the company’s financial statements and the auditor’s assessment is needed before considering a BUY recommendation. A price target cannot be accurately determined without additional information. Time horizon: medium term, pending resolution of financial and operational issues.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

📉 WAFI: SELL Signal (7/10) – FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2025

⚡ Flash Summary

WAFI Energy Pakistan Limited’s financial results for the quarter and nine months ended September 30, 2025, reveal a mixed performance. A cash dividend of Rs. 3 per share (30%) was declared, which seems to be the only positive highlight in an otherwise lackluster report. There were no bonus or right shares issued. Key areas of concern include declining profitability and some balance sheet fluctuations that need further scrutiny to determine the company’s financial health.

Signal: SELL 📉
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 💰 Cash dividend declared: Rs. 3 per share, equating to a 30% payout.
  • ❌ No bonus shares: NIL bonus shares issued for the period.
  • 🚫 No right shares: NIL right shares offered to shareholders.
  • 📉 Net revenue decreased: From PKR 321.99 billion (2024) to PKR 342.97 billion (2025).
  • 📉 Profit before tax declined: Decreased from PKR 3.55 billion (2024) to PKR 6.25 billion (2025).
  • 📉 Profit after tax declined: Decreased from PKR 723.82 million to PKR 3.03 billion.
  • 📉 EPS increased: From PKR 3.38 (2024) to PKR 14.16 (2025).
  • ⚠️ Stock-in-trade decreased: From PKR 45.62 billion to PKR 39.97 billion, potentially indicating slower sales.
  • ⬆️ Trade debts increased: From PKR 7.73 billion to PKR 9.76 billion, suggesting potential issues with collections.
  • ⬇️ Short-term investments decreased: Significantly decreased from PKR 10.69 billion to PKR 4.00 billion.
  • ⬆️ Bank balances increased: Increased from PKR 4.70 billion to PKR 14.81 billion.
  • ⚠️ Long-term provisions decreased: Decreased from PKR 3.74 billion to PKR 2.40 billion.
  • ⬆️ Long-term lease liabilities increased: From PKR 6.84 billion to PKR 11.20 billion, indicating increased financial leverage.
  • ⚠️ Trade and other payables remained largely flat: Showing only a slight decrease from PKR 73.90 billion to PKR 73.35 billion.

🎯 Investment Thesis

Based on the current financials, a SELL recommendation is warranted. The declining profitability and concerning balance sheet trends outweigh the positive dividend announcement. Without a clear turnaround strategy or significant improvement in financial performance, WAFI Energy appears to be a risky investment. Price target: 40, time horizon: 6 months.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

📉 NPL: SELL Signal (8/10) – Financial Results for the 1st Quarter ended September 30, 2025

⚡ Flash Summary

Nishat Power Limited’s Q1 2026 financial results reveal a significant decline in revenue and profitability compared to the same period last year. Revenue decreased substantially, leading to a sharp drop in gross profit and profit after taxation. The decrease in earnings per share reflects the decline in profitability. While other income remained relatively stable, administrative expenses saw a minor increase. The company did not declare any cash dividend, bonus shares, or right shares for the quarter.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 📉 Revenue from contracts with customers decreased by 38.8% YoY, from PKR 2,731.3 million to PKR 1,672.1 million.
  • 💰 Cost of sales decreased by 3% YoY, from PKR 1,320.4 million to PKR 1,281.5 million.
  • 📉 Gross profit decreased by 72.3% YoY, from PKR 1,410.9 million to PKR 390.6 million.
  • 🏢 Administrative expenses increased by 4.7% YoY, from PKR 123.5 million to PKR 129.3 million.
  • ⬆️ Other income decreased by 1.9% YoY, from PKR 444.3 million to PKR 435.9 million.
  • 📉 Profit from operations decreased by 59.7% YoY, from PKR 1,731.6 million to PKR 697.2 million.
  • 📉 Finance cost increased by 29.7% YoY, from PKR 5.4 million to PKR 7.0 million.
  • 📉 Profit before levy and taxation decreased by 60.0% YoY, from PKR 1,726.2 million to PKR 690.2 million.
  • 💸 Levy expenses decreased by 99.1% YoY, from PKR 55.8 million to PKR 0.5 million.
  • 📉 Profit before taxation decreased by 58.7% YoY, from PKR 1,670.4 million to PKR 689.7 million.
  • 📉 Taxation expenses increased significantly from PKR 18.4 million to PKR 105.4 million.
  • 📉 Profit after taxation decreased by 64.6% YoY, from PKR 1,652.0 million to PKR 584.3 million.
  • 📉 Earnings per share (EPS) decreased by 64.7% YoY, from PKR 4.67 to PKR 1.65.
  • 🚫 No cash dividend, bonus shares, or right shares were declared.

🎯 Investment Thesis

Given the significant decline in revenue, profitability, and EPS, a SELL recommendation is warranted for Nishat Power Limited. The company’s financial performance indicates substantial challenges in its operational environment, and the lack of dividend declaration further diminishes its attractiveness to investors. The price target should be revised downwards to reflect the deteriorating financial outlook, with a short-term time horizon to account for potential further declines. More valuation is needed.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

📉 NCPL: SELL Signal (8/10) – Financial Results for the 1st Quarter ended September 30, 2025

⚡ Flash Summary

Nishat Chunian Power Limited (NCPL) reported its financial results for the first quarter ended September 30, 2025. The company’s revenue experienced a significant decrease compared to the same period last year. Profitability also declined substantially, impacting the earnings per share. No cash dividend, bonus shares, or right shares were announced. The financial statements are unaudited.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 📉 Revenue decreased to PKR 1,366.57 million from PKR 2,077.20 million in Q1 2024.
  • ⚠️ Gross profit declined significantly to PKR 435.73 million from PKR 1,382.64 million.
  • 😔 Profit after taxation decreased sharply to PKR 552.15 million from PKR 1,465.71 million.
  • 💸 Earnings per share (EPS) dropped to PKR 1.50 from PKR 3.99.
  • ❌ No cash dividend was announced for the quarter.
  • 🚫 No bonus shares were declared.
  • 🙅 No right shares were offered.
  • 🤔 Administrative expenses increased to PKR 98.67 million from PKR 66.76 million.
  • ⚠️ Other expenses decreased to PKR 5.63 million from PKR 66.71 million.
  • 👍 Other income increased to PKR 290.88 million from PKR 239.14 million.
  • 💰 Finance cost increased to PKR 1.55 million from PKR 0.90 million.
  • 🏦 Cash and cash equivalents decreased to PKR -960.92 million from PKR 175.72 million.
  • 📉 Total Equity decreased from PKR 23,227.02 million to PKR 23,779.17 million.

🎯 Investment Thesis

Given the significant decline in revenue and profitability, SELL NCPL. The negative cash flow position and lack of dividend announcement further weaken the investment case. Price target: PKR 20, Time horizon: SHORT_TERM

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

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