NEGATIVE - FoxLogica

⏸️ FPRM: HOLD Signal (5/10) – Financial Results for the First Quarter Ended 30 Sep 2025

⚡ Flash Summary

First Paramount Modaraba (FPM) reported its unaudited financial results for the quarter ended September 30, 2025. The company’s profit after taxation decreased slightly to PKR 6.23 million compared to PKR 6.33 million in the same period last year. Earnings per certificate also saw a minor decrease from PKR 0.46 to PKR 0.45. No cash dividend, bonus, or right shares were declared for the period.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Profit after taxation decreased slightly to PKR 6.23 million from PKR 6.33 million year-over-year.
📉 Earnings per certificate declined to PKR 0.45 from PKR 0.46 in the prior year.
❌ No cash dividend was declared for the quarter ended September 30, 2025.
❌ No bonus shares were announced.
❌ No right shares were offered to certificate holders.
💰 Operating income decreased marginally to PKR 141.71 million from PKR 143.29 million year-over-year.
💸 Financial charges decreased from PKR 5.65 million to PKR 4.12 million YoY.
📊 Total Equity and Liabilities increased to PKR 523.76 million from PKR 509.28 million since June 30, 2025.
💵 Cash and bank balances increased to PKR 18.80 million from PKR 18.21 million since June 30, 2025.
📜 The company’s authorized certificate capital remains at PKR 400 million.

🎯 Investment Thesis

HOLD. Given the slight decrease in profitability and no dividend announcement, a HOLD recommendation is appropriate. The company’s overall financial position remains relatively stable, but investors should monitor future performance closely. Further analysis and comparison with sector peers are needed to make a more definitive investment decision.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements KHYT Signal: SELL

📉 KHYT: SELL Signal (7/10) – Transmission of Quarterly Report for the Period Ended 2025-09-30

⚡ Flash Summary

KHYT (Khyber Textile Mills Limited) reported its unaudited financial results for the quarter ended September 30, 2025. The company continues to face challenges in resuming textile production due to ongoing banking litigation and credit restrictions. Despite these challenges, KHYT is focusing on its agricultural business and renting out vacant buildings to generate revenue. The company reported a comprehensive loss for the quarter and negative earnings per share.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

❌ Textile production remains halted due to credit constraints from ongoing banking litigation.
🌾 Revenue generated from agricultural business and renting vacant buildings.
📉 Comprehensive loss of PKR (4,676,717) for the quarter ended September 30, 2025, compared to a loss of PKR (3,955,884) in the same period last year.
📉 Basic and diluted earnings per share (EPS) is negative at PKR (3.81), compared to PKR (3.22) for the same quarter last year.
🏦 Ongoing banking litigation restricts access to credit facilities, hindering the modernization and replacement of equipment.
🚜 Vacant land repurposed for agricultural livestock business, including cattle rearing and sale.
🏢 Management continues to rent out vacant buildings and warehouses to generate additional income.
💰 Loan from Director remained constant at PKR 16,500,757 as of September 30, 2025 and June 30, 2025.
💸 Short-term loan from director decreased from PKR 5,559,718 to PKR 5,409,718.
📉 Cash and Bank Balances decreased from PKR 17,050,510 to PKR 13,618,402.
🏢 Property, Plant and Equipment decreased slightly from PKR 1,280,756,896 to PKR 1,279,060,574.
🚫 Sales revenue remained at zero.

🎯 Investment Thesis

Given the company’s current financial state, ongoing litigation, and halted textile production, a SELL recommendation is warranted. The company lacks a clear path to profitability and faces significant headwinds. A price target is not applicable given the lack of revenue and uncertain future. The 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

announcements GWLC Signal: HOLD

⏸️ GWLC: HOLD Signal (5/10) – Transmission of Quarterly Report for the Period Ended September 30, 2025

⚡ Flash Summary

Gharibwal Cement Limited (GWLC) reported a 14% increase in net sales revenue, reaching Rs. 4.915 billion for the quarter ended September 30, 2025, driven by a 23% increase in cement dispatches. However, the retention price declined by 8%, partially offsetting the volume gains. Gross profitability declined by 44% due to planned kiln shutdowns and under-absorption of overheads. Net profit after tax decreased to Rs. 277 million, with earnings per share at Rs. 0.69.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

Cement dispatches increased by 23% year-on-year to 317,363 tons. 🚚
Net sales revenue increased by 14% to Rs. 4.915 billion. 💰
Retention price declined by 8%, impacting revenue growth. 📉
Gross profitability decreased by 44% due to kiln shutdowns. 🏭
EBITDA reached Rs. 716 million. 💪
Net profit after tax stood at Rs. 277 million. 💸
Earnings per share (EPS) were Rs. 0.69. 🧾
Current ratio is 2.48, indicating strong liquidity. 💧
Successful transition to Microsoft Dynamics 365 ERP system. 💻
Kiln remained under planned shutdown due to clinker inventory. ⚙️
Company maintains commitment to operational excellence and cost leadership. 🥇
Board confident in delivering sustainable growth and improved profitability. 🌱
Interim dividend of 5% (PKR 0.50 per share) approved. 🎁
Finance income increased from 75.145 million to 84.493 million. 📈

🎯 Investment Thesis

HOLD. While the company has demonstrated revenue growth, the significant decline in profitability and EPS raises concerns. The successful ERP implementation is a positive sign, but it’s not enough to outweigh the negative financial performance. A price target requires further analysis and sector comparison. Monitor future quarters for improved profitability.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements KOHE Signal: SELL

📉 KOHE: SELL Signal (7/10) – Transmission of Quarterly Report for the Period Ended September 30, 2025

⚡ Flash Summary

Kohinoor Energy Limited (KOHE) reported significantly lower sales revenue of Rs. 798 million for the quarter ended September 30, 2025, compared to Rs. 1,463 million in the same period last year. This decline is attributed to reduced electricity dispatches, with the plant operating at a 4.80% capacity factor versus 8.30% last year. Net profit after tax also decreased to Rs. 140 million (EPS of Rs. 0.82) from Rs. 314 million (EPS of Rs. 1.85) in the prior year. Despite the lower financial performance, auxiliary equipment remains in good operational condition.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Sales revenue decreased significantly to Rs. 798 million from Rs. 1,463 million year-over-year.
⚡️ Electricity dispatches were lower due to a reduced capacity factor of 4.80% compared to 8.30% last year.
💡 Plant delivered 13,150 MWH of electricity to CPPA-G, down from 22,716 MWH in the same quarter last year.
💰 Net profit after tax fell to Rs. 140 million from Rs. 314 million year-over-year.
💸 Earnings Per Share (EPS) decreased to Rs. 0.82 from Rs. 1.85 in the corresponding quarter of the previous year.
🛠️ Auxiliary equipment remains in sound operational condition.
🏦 Status of sales tax demand from the Revenue Department remains unchanged.
🤝 Board expressed appreciation to stakeholders, including CPPA-G and PSO.
📜 Power Purchase Agreement (PPA) with CPPA-G has been extended to November 27, 2027.
🏢 Company operates a 124 MW furnace oil-fired power plant.
📜 Legal status is a public limited company listed on the Pakistan Stock Exchange.
✔️ The company’s wholly owned subsidiary is KEL Power Solutions (Pvt) Limited

🎯 Investment Thesis

Based on the substantial decline in revenue and profitability, a SELL recommendation is warranted. The reduced capacity utilization and subsequent drop in earnings raise concerns about the company’s near-term prospects. A price target will be set after additional due diligence. Time horizon: Medium-term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements GRYL Signal: HOLD

⏸️ GRYL: HOLD Signal (5/10) – Transmission of quarterly financial statements for the period ended 30-09-2025

⚡ Flash Summary

Grays Leasing Limited (GRYL) reported a significant decrease in business transactions for the period ended September 30, 2025, with Rupees 4.790 million compared to Rupees 12.775 million in the same period of 2024. Profit before and after tax also declined to Rupees 1.631 million and Rupees 1.341 million, respectively, from Rupees 2.865 million and Rupees 2.378 million in 2024. Net investment decreased slightly to Rupees 431.463 million, and the company’s equity stood at Rupees 77.925 million. The reduction in KIBOR rates and government policies on used car imports present potential growth opportunities, although challenges remain due to limited awareness and geographic presence.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Business volume decreased significantly from ₹12.775 million to ₹4.790 million.
⚠️ Profit before tax declined from ₹2.865 million to ₹1.631 million.
⚠️ Profit after tax decreased from ₹2.378 million to ₹1.341 million.
📉 Net investment in lease finance slightly decreased to ₹431.463 million.
✅ Equity stands at ₹77.925 million.
📉 KIBOR rate reduced from 22% to 11-12%, making financing more attractive.💰
🚗 Government policy allows import of used cars, potentially increasing leasing demand.📈
🏦 Banking sector restrictions on vehicle financing (max ₹3 million) could boost leasing demand.🏦
🚧 Limited awareness of NBFCs among SMEs remains a challenge.
🌍 Narrow geographic presence of leasing companies is still a hurdle.📍
📊 Profit per share decreased from ₹0.111 to ₹0.062.📉
🤝 Thanked clients and appreciated employees’ efforts.🙌
🏢 Registered office is in Lahore.📍
🏦 Bankers include Meezan Bank Limited and The Bank of Punjab.🏦

🎯 Investment Thesis

Given the decline in financial performance and the mixed outlook with potential growth opportunities offset by existing challenges, a HOLD recommendation is appropriate. The company needs to demonstrate improved operational efficiency and capitalize on the changing regulatory environment before a more positive outlook can be justified. A price target cannot be accurately set without a detailed valuation model and further information. Time horizon is MEDIUM_TERM, pending signs of turnaround.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements OML Signal: HOLD

⏸️ OML: HOLD Signal (5/10) – Transmission of Quarterly Report for the Period Ended 30 September 2025

⚡ Flash Summary

Olympia Mills Limited reported unaudited results for the three months ended September 30, 2025. The company achieved a net profit after tax of Rs. 6.780 million, compared to Rs. 8.548 million in the same period last year, a decrease of roughly 21%. Revenue increased by Rs 22.558 million, primarily due to higher income from amenities and utilities provided to tenants. Despite a challenging economic environment with high inflation and energy prices, the company managed to remain profitable.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Net profit after tax decreased to Rs. 6.780 million in Q3 2025 from Rs. 8.548 million in Q3 2024.
⬆️ Revenue increased by Rs. 22.558 million due to higher income from amenities and utilities provided to tenants.
💼 Basic and diluted earnings per share decreased to Rs. 0.565 from Rs. 0.712 year-over-year.
💰 Gross profit slightly decreased to Rs. 17.395 million from Rs. 17.572 million year-over-year.
⚠️ Operating profit decreased to Rs. 12.531 million from Rs. 14.284 million year-over-year.
🏦 Finance costs decreased to Rs. 874,632 from Rs. 1.047 million year-over-year.
💸 Profit before taxation decreased to Rs. 11.656 million from Rs. 13.237 million year-over-year.
🏢 Administrative & general expenses increased to Rs. (5.248) million from Rs. (4.329) million year-over-year.
📈 Other income decreased to Rs. 603,910 from Rs. 1.332 million year-over-year.
⬇️ Direct operating expenses increased significantly to Rs. (34.586) million from Rs. (11.851) million year-over-year.
🚧 The company’s current liabilities exceeded its current assets by Rs 341.966 million, indicating potential liquidity concerns.

🎯 Investment Thesis

Given the decreased profitability, liquidity concerns, and increase in operating expenses, a HOLD recommendation is appropriate. Further financial analysis and a detailed understanding of the company’s future prospects, including sector dynamics and competitive positioning, are needed before considering a BUY. Price target needs to be re-assessed lower than previous target. Recommendation time horizon: MEDIUM_TERM.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements FABL Signal: HOLD

⏸️ FABL: HOLD Signal (5/10) – Transmission of Quarterly Report for the Third Quarter ended September 30, 2025

⚡ Flash Summary

Faysal Bank Limited (FABL) reported its unaudited financial results for the third quarter ended September 30, 2025. The bank’s profit before tax decreased by 15.3% to PKR 32.8 billion, while profit after tax declined by 24.0% to PKR 15.0 billion. Earnings per share (EPS) also decreased by 24.0%, from PKR 13.02 to PKR 9.89. The bank’s total assets increased by 8.1% to PKR 1,688.7 billion, driven by strong deposit mobilization, with total deposits increasing by 22.1% to PKR 1.3 trillion.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

Total revenue decreased by 3.1% YoY to PKR 70.2 billion due to lower policy rates and the introduction of Minimum Deposit Rate (MDR). 📉
Non-fund income grew strongly by 47.2% to PKR 18.1 billion, driven by fee income (+26.1%) and foreign exchange income (+71.1%). ⬆️
The net gain on securities witnessed a jump of 219.7% compared to the same period last year. 🚀
Total expenses increased by 18.6% YoY due to inflation and expanded branch network. ⬆️
Net reversal of provisions of PKR 4.2 billion compared to PKR 1.4 billion in September 2024. ↩️
NPL ratio improved to 2.9% compared to 3.6% as of Dec’24, and the total coverage ratio stands at 96.8%. ✅
Total assets reached PKR 1.7 trillion, driven by strong deposit mobilization. ⬆️
Current Accounts grew 29.4% over December 2024, reaching PKR 528 billion. ⬆️
Total deposits increased by 22.1% to PKR 1.3 trillion. ⬆️
Current Account (CA) mix improved to 41.4% from 39.1% in December 2024, and CASA ratio improved to 87.0% from 85.5%. ⬆️
Net financing increased by 14.5% to PKR 726 billion, but ADR moderated to 56.9% from 60.7% in December 2024. ⬆️, ⬇️
Investments increased by 3.9% to PKR 704 billion. ⬆️
Interim cash dividend of Rs 1.50 per share (15%) declared, bringing the total dividend for the period to Rs 4.50 (same as 2024). 💰

🎯 Investment Thesis

Given the reduced profitability and the challenging macroeconomic environment, I recommend a HOLD rating for Faysal Bank. While the bank has shown resilience in deposit mobilization and asset quality, the decline in earnings and increasing tax rate are concerning. A further understanding of strategic initiatives by the management and their impact is needed.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements FIMM Signal: SELL

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

⚡ Flash Summary

First Imrooz Modaraba reported a challenging quarter ending September 30, 2025, with a loss of PKR 2.185 million compared to a profit of PKR 29.162 million in the same period last year. Sales decreased from PKR 308.119 million to PKR 252.402 million. The decrease in profitability is attributed to lower sales and higher levies. The company’s cash flow from operating activities also shows a significant decline compared to the previous year, emphasizing the need for strategic adjustments.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Net loss of PKR 2.185 million compared to a profit of PKR 29.162 million YoY.
📉 Sales decreased by 18.08% from PKR 308.119 million to PKR 252.402 million YoY.
💰 Operating expenses increased to PKR 32.996 million from PKR 26.193 million YoY.
💸 Financial charges decreased to PKR 5.703 million from PKR 8.078 million YoY.
📊 Basic and diluted loss/earnings per certificate is PKR -0.73 compared to PKR 9.72 YoY.
⬇️ Cash generated from operating activities decreased from PKR -101.19 million to PKR 12.130 million YoY.
liabilities increased from PKR 169.485 million to PKR 25.264 million YoY.
⬆️ Cash generated from investing activities decreased from PKR 15,000 to PKR -9.048 million YoY.
⬆️ Receipts of Qard-e-Hasana from Modaraba Management Company decreased from PKR 133.00 million to PKR 69.00 million YoY.
⬇️ Repayment of Musharaka finances decreased from PKR -438.844 million to PKR -419.978 million YoY.
❌ No dividends were declared for the period.
🏦 Cash and bank balances decreased to PKR 5.918 million from PKR 13.928 million YoY.
⚠️ Company faced significant pressure on profitability and cash flow during the quarter.
🤔 Decline in sales and increase in levies contributed to the net loss.

🎯 Investment Thesis

Given the negative financial performance, including a net loss and declining revenue, a SELL recommendation is warranted. The price target is PKR 5, with a time horizon of 6 months, based on the expectation of continued market pressures and operational inefficiencies. The company needs to demonstrate significant improvements in profitability and cash flow to justify a more positive outlook. Without substantial changes, the stock is likely to underperform.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

AGTL announcements Signal: SELL

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

⚡ Flash Summary

Al-Ghazi Tractors Limited (AGTL) reported a significant downturn in its financial performance for the nine-month period ended September 30, 2025. The company experienced a substantial decline in sales and revenue, primarily due to weakened farmer economics and deferred purchasing decisions amid anticipation of the Chief Minister’s Green Tractors Scheme. Resultantly, AGTL recorded a loss after tax of Rs. 270 million, a stark contrast to the profit of Rs. 2,369 million in the corresponding period last year. Despite these challenges, AGTL remains cautiously optimistic about the remainder of the year, expecting support from the Green Tractor Scheme to boost sales volumes.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Operating revenue declined by 59% to Rs. 9,761 million compared to Rs. 23,836 million last year.
🚜 Tractor sales significantly decreased as the company produced 5,005 units and sold 4,126 units, compared to 9,620 and 9,619 units, respectively, in the same period last year.
🌾 Approximately 2.5 million acres of crops were destroyed due to recent floods, representing about 7.7% of the country’s total cultivated land, impacting sales.
✅ AGTL successfully secured 3,728 units, representing 39% of the 9,500 tractors allocated under Phase I of the Chief Minister’s Green Tractors Scheme.
💰 Cost of sales decreased by 56% to Rs. 8,032 million from Rs. 18,135 million in the corresponding period last year.
⚠️ Gross profit decreased to Rs. 1,729 million, a decrease of Rs. 3,972 million compared to the corresponding period last year.
💸 Distribution and administrative expenses increased to Rs. 391 million and Rs. 1,390 million, respectively.
⛔️ Loss before tax is Rs. 405 million, compared to a profit before tax of Rs. 3,902 million in the corresponding period last year.
🔴 Loss after tax is Rs. 270 million, as compared to a profit after tax of Rs. 2,369 million in the same period last year.
📉 Loss per share recorded at Rs. 4.65 compared to profit per share of Rs. 40.87 for the same period last year.
🚧 The company is facing headwinds from the ongoing conflict along the western border, which poses a potential risk to export operations to Afghanistan.
🏢 Proposal to change Registered Office from Karachi to Lahore, pending approval at the upcoming Extraordinary General Meeting.
🌱 Anticipated support from the Green Tractor Scheme is expected to contribute positively to sales volumes in the last quarter.

🎯 Investment Thesis

Given the poor financial results, challenging market conditions, and increased risks, a SELL recommendation is warranted for AGTL. The company’s reliance on government schemes and vulnerability to economic downturns make it a risky investment. The significant decline in profitability and negative cash flow further support this recommendation. While the Green Tractor Scheme may provide some short-term relief, the long-term outlook remains uncertain. Further, there is a considerable potential risk in the continuity of export operations. A price target revision is needed to adequately reflect the decreased valuation.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements JDMT Signal: SELL

📉 JDMT: SELL Signal (9/10) – Financial Results for the Quarter Ended 30 September 2025

⚡ Flash Summary

Janana De Malucho Textile Mills Ltd. reported its financial results for the quarter ended September 30, 2025. The company experienced a significant decrease in sales, leading to a gross loss. The company reported a substantial loss after taxation, and a negative loss per share. No dividends, bonus shares, or rights shares were recommended by the board of directors.

Signal: SELL 📉

Strength: 9/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Sales decreased drastically to PKR 11.813 million in Q3 2025 from PKR 827.832 million in Q3 2024.
Gross loss of PKR 47.205 million in Q3 2025 compared to gross profit of PKR (102.577) million in Q3 2024.
📉 Loss from operations worsened to PKR (55.431) million in Q3 2025 from PKR (98.108) million in Q3 2024.
💸 Finance costs decreased to PKR 38.120 million in Q3 2025 from PKR 87.362 million in Q3 2024.
📉 Loss before tax increased to PKR (93.699) million in Q3 2025 from PKR (195.818) million in Q3 2024.
📉 Loss after taxation increased to PKR (93.699) million in Q3 2025 from PKR (161.271) million in Q3 2024.
📉 Loss per share (LPS) increased to PKR (13.55) in Q3 2025 from PKR (23.32) in Q3 2024.
🚫 No cash dividend was recommended for the quarter.
🚫 No bonus shares were recommended for the quarter.
🚫 No rights shares were recommended for the quarter.
⚠️ Trade debts significantly decreased from 83.535 million to 3.325 million.

🎯 Investment Thesis

SELL: The company’s financial performance is deteriorating, and there are no clear catalysts for a turnaround. The negative earnings, declining revenues, and increasing losses make this a high-risk investment. The price target would need to reflect liquidation value, given the current trends.

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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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