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⏸️ DBCI: HOLD Signal (4/10) – DBCI | Dadabhoy Cement Industries Limited Transmission of Annual Report for the Year Ended 30 June 2025

⚡ Flash Summary

Dadabhoy Cement Industries Limited’s 45th Annual Report for the year ended June 30, 2025, reveals a company still grappling with operational inactivity and accumulated losses. Despite a challenging economic environment, the board is actively pursuing diversification strategies and engaging with prospective investors to revive the company. The Securities and Exchange Commission of Pakistan (SECP) has set aside the winding up order. However, the company continues to operate under a going concern basis with significant accumulated losses of Rs. 782.77 million.

Signal: HOLD ⏸️

Strength: 4/10

Sentiment: NEGATIVE

Time Horizon: LONG_TERM

📌 Key Takeaways

❌ Accumulated losses increased to Rs. 782.77 million in 2025 from Rs. 770.28 million in 2024.
🏭 Operations have been closed since financial year 2009, leading to financial and operational difficulties.
✅ The SECP has set aside the winding up order, offering a chance for operational revival.
🤝 Management is actively pursuing diversification strategies and engaging with prospective investors.
💼 The company is exploring new ventures for diversification, indicating a forward-looking approach.
📈 The company’s performance from a business viewpoint remained status quo.
🔍 Auditors have drawn attention to material uncertainty related to the company’s ability to continue as a going concern.
📜 The profit / (loss) per share stood at Rs. (0.13) in 2025 compared to Rs. 0.05 in 2024.
🏢 Administrative expenses increased to Rs. (25,156) from Rs. (17,714).
📉 The company continued to be in a loss position.
✅ The Board is actively working to seek compliance with regulations and ensure good governance.
👔 Total number of directors are seven, with no female directors.
Auditors S.M Suhail & Co. are compliant with International Federation of Accountants (IFAC) guidelines on code of ethics
Non-Executive directors voluntarily waived their remuneration for attending board/committee meetings
The company has not declared dividend or issued bonus shares for the current financial year.

🎯 Investment Thesis

Given DBCI’s operational inactivity, accumulated losses, and the uncertainty surrounding its revival, a HOLD rating is appropriate. While positive developments include SECP’s decision to set aside the winding up order and the board’s efforts to attract investments, the company’s financial position remains weak. A BUY rating is not warranted until concrete steps are taken to resume operations and achieve profitability. A SELL rating isn’t advised as they are actively seeking investers. Price target = highly speculative.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 15, 2025

announcements Signal: HOLD SPL

⏸️ SPL: HOLD Signal (5/10) – Transmission of Quarterly Report for the Period Ended 30.09.2024

⚡ Flash Summary

Sitara Peroxide Limited (SPL) reported its financial results for the first quarter ended September 30, 2024. Due to the complete closure of the plant for balancing, modernization, and replacement (BMR), the company experienced zero sales during the quarter, compared to PKR 15.868 million in the same period last year. Despite no revenue, the company managed to reduce its loss after tax to PKR 70.754 million from PKR 78.833 million in the corresponding period of the previous year, primarily through cost reduction and lower finance costs. The company awaits early BMR completion for viable operations.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Sales plummeted to zero due to plant closure for BMR.
❌ No revenue generated in Q1 2024 vs. PKR 15.868 million in Q1 2023.
💰 Cost of sales decreased to PKR 53.828 million from PKR 63.637 million.
⚠️ Gross loss stood at PKR 53.828 million.
➡️ Loss before tax improved slightly to PKR 81.453 million from PKR 78.595 million.
✅ Loss after tax reduced to PKR 70.754 million from PKR 78.833 million.
📉 Loss per share reduced to PKR 1.28 from PKR 1.43.
✔️ Depreciation decreased slightly from PKR 43.179 million to PKR 42.509 million.
📉 Finance costs decreased due to loan repayments.
👍 All expenses reduced by management.
🛠️ BMR is underway for viable operation.
🏦 Cash and bank balances increased to PKR 36.233 million from PKR 11.381 million at the beginning of the period.
📉 Revenue reserve shows accumulated loss of PKR 768.456 million.
👍 Net cash generated from operating activities is PKR 24.851 million compared to negative PKR 8.973 million last year.

🎯 Investment Thesis

Given the plant closure and ongoing BMR, a HOLD recommendation is appropriate. The company’s future prospects depend heavily on the successful completion of BMR and the resumption of profitable operations. Any potential BUY recommendation would depend on tangible progress on BMR and a clear timeline for resuming operations. Price target is speculative until operations resume.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 15, 2025

announcements PSEL Signal: SELL

📉 PSEL: 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 October 14, 2025, Mr. Dawood Jan Muhammad, a substantial shareholder of Pakistan Services Limited (PSEL), sold 9,107,800 shares on the NDM at a rate of PKR 710 per share. This transaction resulted in a 0% cumulative shareholding post-transaction. The disclosure was made under PSX Regulation 5.6.4, which mandates the reporting of shareholding changes by directors, CEOs, executives, substantial shareholders, and their spouses and minors. The company has confirmed that this transaction will be presented at the next Board of Directors meeting, highlighting any non-compliance issues.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

🚨 Substantial shareholder Mr. Dawood Jan Muhammad sold a significant number of shares.
📉 9,107,800 shares were sold by Mr. Muhammad.
💰 The sale price was PKR 710 per share.
📅 The transaction occurred on October 13, 2025.
🏢 The sale was executed on the NDM (presumably National Depository Market).
📄 The disclosure is under PSX Regulation 5.6.4.
💼 Mr. Dawood Jan Muhammad is described as a ‘Substantial Shareholder’.
📊 Post-transaction, the cumulative shareholding is reported as 0%.
🗣️ The transaction will be discussed in the next Board of Directors meeting.
✅ The company confirmed compliance with PSX regulations.
✉️ The disclosure was communicated to the Pakistan Stock Exchange.
🏢 Pakistan Services Limited is the reporting entity.
📝 The form used for disclosure is Form-29.

🎯 Investment Thesis

Based on the information provided, a SELL recommendation is warranted. The complete exit of a substantial shareholder raises significant concerns about the company’s future performance and investor confidence. A price target would be highly speculative without additional fundamental analysis, but the near-term outlook appears negative. Time horizon: Short term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 15, 2025

announcements Signal: SELL TPLP

📉 TPLP: 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

TPL Corp Limited, a substantial shareholder of TPL Properties Limited, sold 500,000 shares on July 10, 2025, at a rate of Rs. 10.89 per share. The shares were in the form of CDS (Central Depository System) and traded in the ready market. Following this transaction, TPL Corp Limited’s cumulative shareholding stands at 196,257,162 shares, representing 34.98% of the company. This transaction will be presented at the subsequent Board meeting for review and compliance under PSX regulations.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 TPL Corp Limited sold 500,000 shares of TPL Properties Limited.
🗓️ The transaction occurred on October 7, 2025.
💰 The sale price was Rs. 10.89 per share.
💽 Shares were in CDS form.
✔️ The transaction occurred in the ready market.
📊 Post-transaction, TPL Corp holds 196,257,162 shares.
⚖️ This represents 34.98% of total shareholding.
📢 The transaction will be presented in the upcoming Board meeting.
📜 This includes a review for compliance with PSX regulations (clause 5.6.4).
🏢 Shayan Mufti, Company Secretary, confirmed the transaction.
🏢 TPL Properties Ltd. is located in Karachi, Pakistan.
🌐 More information available at www.tplproperty.com.

🎯 Investment Thesis

SELL, given the substantial shareholder’s decision to reduce their stake. This could signal a lack of confidence in the company’s future performance or an alternative investment opportunity for TPL Corp Limited. Increased selling pressure may result from this transaction. Price target: Rs. 9.50, Time horizon: 6 months.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 15, 2025

announcements ANTM Signal: HOLD

⏸️ ANTM: HOLD Signal (5/10) – Corporate Briefing Session

⚡ Flash Summary

AN Textile Mills Limited will hold a corporate briefing session on October 27, 2025, to discuss the company’s financial performance for the year ended June 30, 2025, and provide a brief review of the first quarter ended September 30, 2025, along with a future outlook. The company acknowledges challenges in the spinning industry including high energy tariffs, outdated machinery, and stiff competition. Management aims to improve profitability by increasing market share and reducing operating costs. The company is also relying on interest-free loans from directors and bank borrowings to meet liquidity requirements.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🗓️ Corporate Briefing Session: October 27, 2025, to discuss FY25 results and Q1 2026 review.
🏢 Location: Registered Office in Faisalabad and via video link/Zoom.
📧 Registration: Shareholders/analysts/investors can register by emailing cbs2023@antextile.com.pk.
📉 Pre-tax loss: A loss of (122,147) thousand rupees in 2025 compared to a loss of (114,542) thousand rupees in 2024.
📉 Revenue: Revenue increased to 4,492,440 thousand rupees in 2025 from 3,460,089 thousand rupees in 2024.
📉 EPS: Loss per share (10.66) in 2025 compared to (11.43) in 2024.
📉 Current Ratio: Decreased to 1:0.65 in 2025 from 1:0.71 in 2024.
🏭 Industry Challenges: High energy tariffs, outdated machinery, and competition.
🌱 Sustainability: Focus on eco-friendly and traceable supply chains.
🏦 Liquidity: Supported by interest-free loans and bank borrowings.
🌐 Market Focus: Efforts to increase market share and reduce operating costs.

🎯 Investment Thesis

HOLD. While revenue increased, the company remains unprofitable and faces significant challenges. The slight improvement in loss per share is not enough to warrant a buy recommendation. Investors should monitor the company’s progress in reducing operating costs and improving efficiency. The company needs to demonstrate a clear path to profitability before a more positive outlook can be considered.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 15, 2025

AHL announcements Signal: SELL

📉 AHL: SELL Signal (8/10) – Publication of Withdrawal of Public Announcement of Intention to acquire 84.06% of the ordinary shares of Attock Cement Pakistan Limited

⚡ Flash Summary

Arif Habib Limited, acting as the Manager to the Offer, announced the withdrawal of the Public Announcement of Intention (PAI) by Alpha Cement Company Limited to acquire 84.06% of the ordinary shares of Attock Cement Pakistan Limited. The initial announcement for the potential acquisition was made on June 3rd, 2025, but the acquirer has now decided not to proceed with the transaction. This withdrawal is in compliance with Regulation 21(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The notification of the withdrawal has been published in Business Recorder and Nawa-i-Waqt.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

❌ Alpha Cement withdraws intention to acquire 84.06% of Attock Cement.
📅 Initial PAI was announced on June 3rd, 2025.
🏢 Arif Habib Limited acted as the Manager to the Offer.
📜 Withdrawal complies with Regulation 21(1) of takeover regulations.
📰 Withdrawal notice published in Business Recorder and Nawa-i-Waqt.
📉 Attock Cement’s share price likely to experience downward pressure.
🤝 Potential acquisition uncertainty removed.
🔍 No specific reason provided for the withdrawal.
💼 Arif Habib fulfilled regulatory requirements for withdrawal.
🚫 No immediate change in Attock Cement’s operations.
❓ Future acquisition attempts remain uncertain.

🎯 Investment Thesis

SELL. The withdrawal of the acquisition offer removes a key catalyst for Attock Cement’s share price appreciation. Without the acquisition premium, the company’s valuation is likely to revert to its standalone financial metrics. Given the potential for downward price adjustment, a SELL recommendation is appropriate. Price Target: Based on a conservative estimate of peer valuations, a price target reflecting a 10-15% discount from the pre-announcement price is reasonable. Time Horizon: Short-term (1-3 months) to capture the price adjustment.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 10, 2025

AKGL announcements Signal: SELL

📉 AKGL: SELL Signal (7/10) – Transmission of Annual Report for the Year Ended 2025-06-30

⚡ Flash Summary

Al-Khair Gadoon Limited’s 2025 annual report shows a marginal increase in revenue but a significant decline in profitability. Revenue increased by 9.43% to PKR 1.399 billion, while profit after taxation decreased by 37.1% to PKR 17.145 million. The decline in profitability is attributed to a volatile economic environment, geopolitical tensions, and increasing inflation, which affected overall profit margins. The company’s balance sheet shows an increase in total assets, primarily driven by an increase in short-term borrowings, to address challenges and ensure sustainable growth, the company remains focused on improving operational efficiencies and cost control.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Revenue increased by 9.43% to PKR 1.399 billion from PKR 1.278 billion in 2024.
📉 Profit after taxation decreased by 37.1% to PKR 17.145 million from PKR 27.253 million in 2024.
⚠️ EPS decreased significantly to PKR 1.71 from PKR 2.73 in 2024.
📉 Profit before tax declined by 23.5% to PKR 30.737 million.
📉 Gross profit margin decreased from 12.97% to 12.41%.
⬆️ Total assets increased by 17.3% to PKR 799.489 million from PKR 681.490 million.
💰 Short term borrowings increased substantially to PKR 367.148 million from PKR 261.007 million.
🚫 No dividend was declared for the year ended June 30, 2025.
🗓️ The Annual General Meeting will be held on October 24, 2025.
💼 Majority of the directors are exempted from the requirement of Directors’ Training Program.
⚠️ The company acknowledges challenges from rising inflation, intense competition, and geopolitical events.
✅ The company aims for sustainable growth through operational efficiencies and cost control.
🌱 The company emphasizes social responsibility and safe working conditions.
🌐 The company is exposed to currency risk due to reliance on imported raw materials.
👥 Major shareholders: Mr. Mohammad Afzal Sheikh is Chairman/Director who holds 29.845% of shares, which is a positive sign.

🎯 Investment Thesis

Given the significant decrease in profitability, increase in debt, and economic uncertainty, a SELL recommendation is warranted. The financial metrics indicate deteriorating performance, and the company faces numerous external risks. Current shareholders may want to consider offloading shares, while new investors should avoid this stock. The market sentiment will likely be negative on this announcement.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 10, 2025

announcements KSTM Signal: HOLD

⏸️ KSTM: HOLD Signal (5/10) – Progress Report for September-2025

⚡ Flash Summary

The progress report for KSTM for the quarter ended September 30, 2025, indicates that the management is facing challenges in initiating operations due to economic distress and restrictive LC (Letter of Credit) policies. The report suggests that the company is actively seeking solutions to improve the situation and restore business operations. Management is exploring different possibilities and will continue to provide updates on their efforts and developments in future quarterly reports. Overall, the company’s situation is currently difficult, and management is focused on finding ways to overcome these obstacles.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Economic distress is significantly impacting operations.
🔒 Restrictive LC policies are creating obstacles for initiating operations.
💡 Management is actively seeking solutions to improve the situation.
🔄 The company is exploring various possibilities to restore business operations.
📊 Quarterly progress reports will continue to provide updates on developments.
⚠️ Economic challenges and LC policies pose significant risks.
⏳ Management is focused on overcoming current obstacles.
💼 Efforts are being made to bring the business back on track.
🌍 The company’s situation is becoming tougher.
📢 Management will continue notifying efforts and developments.

🎯 Investment Thesis

Given the current situation with economic distress and operational challenges due to restrictive LC policies, a HOLD recommendation is appropriate. While management is actively seeking solutions, the near-term outlook is uncertain. A more positive outlook would require improvements in the economic environment, easing of LC restrictions, and a return to stable operations. Price target is maintained at current levels with a medium-term horizon, pending improvements in the company’s operational and financial situation.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 10, 2025

announcements BGL Signal: SELL

📉 BGL: SELL Signal (7/10) – Corporate Briefing Session 2025

⚡ Flash Summary

Baluchistan Glass Limited (BGL) held a corporate briefing session on October 15, 2025, discussing their financial performance for the year ended June 30, 2025. The company’s Unit-I in Hub, Baluchistan, resumed production in June 2024 but faced technical disruptions. BGL successfully completed a financial restructuring by issuing 376,912,057 new shares to MMM Holding (Private) Limited, increasing the paid-up capital to Rs. 6.385 billion and MMM’s holding to 93.59%.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

🏭 Baluchistan Glass Limited incorporated in Pakistan in 1980.
📍 Operates three manufacturing units in Hub, Sheikhupura, and Lahore.
📈 Unit-I resumed production in June 2024 but was disrupted.
🔄 Financial restructuring completed by issuing new shares.
💰 Paid-up capital increased to Rs. 6.385 billion.
🤝 MMM Holding now owns 93.59% of the company.
📉 Non-Current Assets decreased by 6.2% to Rs. 3,337,221 thousands.
📉 Current Assets decreased significantly by 34.61% to Rs. 568,068 thousands.
📈 Non-Current Liabilities increased substantially by 241.1% to Rs. 647,256 thousands.
📉 Current Liabilities decreased by 10.72% to Rs. 2,209,355 thousands.
📉 Shareholders’ Equity decreased by 40.49% to Rs. 1,048,478 thousands.
📈 Sales increased significantly by 344.91% to Rs. 717,833 thousands.
📉 Gross Loss increased by 61.78% to (Rs. 463,789) thousands.
📉 Operating Loss increased by 41.92% to (Rs. 456,365) thousands.
⚠️ Loss for the Year increased by 40.25% to (Rs. 713,459) thousands.

🎯 Investment Thesis

Given the negative profitability trends, high debt, and operational challenges, a SELL recommendation is warranted. The company’s financial restructuring may provide some short-term relief, but the underlying issues of profitability and efficiency remain unaddressed. The stock is overvalued based on its financial performance.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 10, 2025

announcements IBFL Signal: Neutral

⏸️ IBFL: NEUTRAL Signal (5/10) – Sad demise of Mr. Sheikh Mukhtar Ahmad – Chairman and Director, Ibrahim Fibres Limited

⚡ Flash Summary

Ibrahim Fibres Limited (IBFL) has announced the passing of their Chairman and Director, Mr. Sheikh Mukhtar Ahmad, on October 10, 2025. This is a significant event as the Chairman likely played a vital role in the company’s strategic direction and governance. The company has informed the Pakistan Stock Exchange (PSX) and TRE Certificate Holders accordingly. The market’s reaction to this news will depend on the perceived impact on the company’s future leadership and operations.

Signal: NEUTRAL ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

💔 Mr. Sheikh Mukhtar Ahmad, Chairman and Director of Ibrahim Fibres Limited, has passed away.
📅 The announcement was made on October 10, 2025.
🏢 Ibrahim Fibres Limited has informed the Pakistan Stock Exchange (PSX).
📜 TRE Certificate Holders have been notified.
💼 Mr. Ahmad’s leadership role implies potential strategic impact.
🤔 Market reaction will depend on leadership transition.
📜 The company has followed due process by informing relevant stakeholders.
🙏 Condolences to Mr. Ahmad’s family and the IBFL team.

🎯 Investment Thesis

HOLD. The passing of the Chairman introduces uncertainty. While the company’s fundamentals remain unchanged in the immediate term, the leadership transition requires careful monitoring. A clear succession plan and stable operational performance are needed before considering a BUY recommendation. A SELL recommendation is not warranted unless the transition proves disruptive.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 10, 2025

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