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⏸️ FZCM: HOLD Signal (5/10) – Annual financial report 2025

⚡ Flash Summary

Fazal Cloth Mills Limited’s (FCML) 2025 annual report reveals a challenging year marked by a decrease in revenue and net profit. Revenue declined to Rs. 90.002 billion from Rs. 97.161 billion, primarily due to reduced local demand and increased energy costs. Net profit plummeted by 93.44% to Rs. 117 million from Rs. 1,785 million in the previous year. Despite these challenges, the company managed to navigate the difficult economic environment and is implementing strategies to improve operations and deliver sustainable returns.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📉 Revenue decreased by 7.37% YoY, from Rs. 97.161 billion to Rs. 90.002 billion.
  • ⚠️ Net profit after taxation declined drastically by 93.44%, from Rs. 1,785 million to Rs. 117 million.
  • 🔻 Earnings per share (EPS) decreased by 93.44%, from Rs. 59.51 to Rs. 3.90.
  • Gross profit saw a significant decline of 30.14%, from Rs. 11,016.97 million to Rs. 7,696.75 million.
  • 🚧 EBIDTA decreased by 31.45%, from Rs. 13,385.82 million to Rs. 9,175.44 million.
  • ⬆️ Depreciation increased slightly by 3.19%, from Rs. 2,222.503 million to Rs. 2,293.297 million.
  • 📉 Finance costs decreased by 36.72%, from Rs. 8,337.428 million to Rs. 5,276.230 million.
  • 🚫 No dividend was recommended for the year.
  • 🏭 Large-Scale Manufacturing (LSM) sector registered a YoY increase of 4.1% in June 2025, but cumulatively declined by 0.74% during FY2025.
  • 🇵🇰 SBP reduced policy rates by a cumulative 850 basis points to 11%, which alleviated financial pressure on industries.
  • 🤝 Recently, a trade agreement between Pakistan and the U.S. reduced tariffs on Pakistani exports from 29% to 19%.
  • 📉 Pakistan’s cotton production for 2025-26 is expected to decrease significantly due to monsoon damage and virus attacks.

🎯 Investment Thesis

Given the significant decline in profitability, challenging industry conditions, and various risk factors, a HOLD recommendation is appropriate. The price target is speculative and would depend on a broader market recovery in the Pakistani market, sector recovery, and demonstration of sustained improvement in profitability and operational efficiency. There is no given time horizon.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

📉 SBL: 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 3, 2025, Samba Bank Limited (SBL) disclosed transactions by a relevant person, specifically Director Hafiz Mohammad Yousaf. The director sold a total of 504,000 shares on October 2, 2025, at prices ranging from 12.00 to 12.35 PKR per share. Following these transactions, Hafiz Mohammad Yousaf holds a cumulative shareholding of 100,500 shares, representing 0.01% of the company. These transactions are disclosed under PSX Regulation 5.6.4 concerning the interests of relevant persons holding company shares.

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

📌 Key Takeaways

  • 💼 Director Hafiz Mohammad Yousaf sold shares in Samba Bank Limited (SBL).
  • 📅 Transactions occurred on October 2, 2025.
  • 📉 A total of 504,000 shares were sold by the director.
  • 💰 Sale prices ranged from 12.00 to 12.35 PKR per share.
  • 👤 Hafiz Mohammad Yousaf is an Independent Director.
  • 📄 Transactions were executed through CDC.
  • 📊 The cumulative shareholding after the transactions is 100,500 shares.
  • 📌 Post-transaction, Hafiz Mohammad Yousaf holds 0.01% of the company.
  • 📜 Disclosure made under PSX Regulation 5.6.4.
  • 🏦 The company involved is Samba Bank Limited (SBL).

🎯 Investment Thesis

SELL. While a single director’s sale isn’t definitive, the volume sold by this independent director is concerning. Given the information available, a cautious approach is warranted. Price target needs further investigation.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

📉 AGHA: SELL Signal (7/10) – Transmission of Annual Report for the Year Ended June 30, 2025

⚡ Flash Summary

AGHA Steel Industries Limited (ASIL) faced a challenging year, marked by a fire incident and a difficult economic climate. The company’s revenue decreased, and it incurred significant losses. A comprehensive restructuring program is underway to stabilize the company’s financial position. The Board maintains a focus on governance and transparency during this transitional period. The company is working to rebuild confidence among stakeholders and aims for renewed growth in FY2026.

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

📌 Key Takeaways

  • 📉 Revenue decreased by 22% to PKR 10.67 billion due to weak demand and market disruption.
  • 🔥 Operations severely impacted by a fire incident affecting production capacity.
  • 💔 Gross loss reported at PKR 1.98 billion compared to a profit last year.
  • 📉 Operating loss widened to PKR 7.05 billion.
  • ❌ Net loss significantly increased to PKR 7.21 billion.
  • 😓 Negative EPS of PKR 11.92.
  • 🔻 Gross Margin declined to -19% from -5%.
  • 🔻 Operating Margin declined to -66% from -43%.
  • 📉 ROE is -41%
  • 🔻 Current Ratio weakened to 0.34x.
  • ⚠️ Debt-to-equity ratio increased to 1.31x.
  • 🤝 Comprehensive restructuring program initiated to address financial challenges.
  • 🔍 VIS Credit Rating withdrawn due to ongoing restructuring.
  • 🌱 Ongoing commitment to environmental and social responsibility despite financial difficulties.

🎯 Investment Thesis

Given the significant financial difficulties, negative profitability, and uncertain future, a SELL recommendation is warranted. The company faces a long road to recovery, and significant uncertainty remains about its ability to restructure its debt and return to sustainable profitability. Price Target of $1, reflecting the extreme challenges. Potential for a turnaround exists but it is too early to see any signs of material improvement.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

⏸️ GUSM: HOLD Signal (4/10) – Financial Results For The Year Ended 30-06-2025

⚡ Flash Summary

Gulistan Spinning Mills Ltd. reported a net loss of PKR 5.94 million for the year ended June 30, 2025, compared to a net loss of PKR 186.25 million in the previous year. The company did not declare any cash dividend, bonus shares, or right shares. The loss per share significantly improved from PKR 12.72 to PKR 0.41. The company’s scheme of arrangement, sanctioned by the court, is set to be implemented.

Signal: HOLD ⏸️
Strength: 4/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • ❌ The company reported a net loss of PKR 5.94 million for the year ended June 30, 2025.
  • 📈 This is a significant improvement compared to a net loss of PKR 186.25 million in the previous year.
  • 📉 Loss per share improved from PKR 12.72 in 2024 to PKR 0.41 in 2025.
  • 🚫 No cash dividend was declared for the year ended June 30, 2025.
  • 🚫 No bonus shares were issued for the year ended June 30, 2025.
  • 🚫 No right shares were offered for the year ended June 30, 2025.
  • 🗓️ The Annual General Meeting will be held on October 28, 2025.
  • 🏦 The share transfer books will be closed from October 21, 2025, to October 28, 2025.
  • ⚖️ The Scheme of Arrangement, sanctioned by the Court on October 30, 2023, will be implemented.
  • 🏢 Administrative expenses decreased from PKR 1.28 million to PKR 0.37 million.
  • 💸 Finance costs slightly increased from PKR 1,098 to PKR 2,051.
  • ⚠️ The company’s accumulated losses stand at PKR 1,981.84 million as of June 30, 2025.
  • 📉 Total Equity is negative PKR 1,687.14 million.
  • 💵 Cash and Bank balances decreased from PKR 16.77 million to PKR 8.53 million.

🎯 Investment Thesis

HOLD. The company’s financial position remains precarious, and the implementation of the scheme of arrangement is crucial for its turnaround. While the reduction in loss and improved EPS are encouraging, substantial risks remain. Monitor the successful execution of the scheme of arrangement and future revenue growth. A price target cannot be accurately determined with the given financials.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

📉 YOUW: SELL Signal (8/10) – Financial Results for the Year Ended June 30, 2025

⚡ Flash Summary

Yousaf Weaving Mills Limited (YOUW) reported a net loss of PKR 306.71 million for the year ended June 30, 2025, a significant increase from the PKR 49.21 million loss in the previous year. Sales increased to PKR 639.74 million from PKR 527.64 million. However, the company’s cost of sales surged to PKR 894.21 million, resulting in a gross loss of PKR 254.47 million. The substantial increase in losses raises concerns about the company’s operational efficiency and financial stability.

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

📌 Key Takeaways

  • 🚨 YOUW’s net loss dramatically increased to PKR 306.71 million in 2025 from PKR 49.21 million in 2024.
  • 📈 Sales saw an increase, reaching PKR 639.74 million in 2025 compared to PKR 527.64 million in 2024.
  • 📉 Cost of sales spiked to PKR 894.21 million, leading to a gross loss of PKR 254.47 million.
  • ⚠️ Operating loss widened to PKR 294.73 million from PKR 38.03 million.
  • 💸 Loss per share ballooned to PKR (2.26) from PKR (0.39).
  • 💰 Net cash used in operating activities was PKR 28.73 million compared to cash generated of PKR -8.69 million in 2024.
  • 🏦 Short-term borrowings decreased significantly to PKR 517.92 million from PKR 611.65 million.
  • 📊 The company’s accumulated loss increased to PKR 1.85 billion.
  • ❌ Total comprehensive loss for the year was PKR 310.12 million, a stark contrast to the income of PKR 197.72 million in the previous year.
  • 📉 Negative experience adjustment on remeasurement of staff retirement of PKR -3.41 million.
  • 💵 Loan from directors increased significantly to PKR 81.96 million vs PKR 34.18 million in 2024.

🎯 Investment Thesis

Based on the significant losses, deteriorating profitability, and weak financial position, a SELL recommendation is warranted for Yousaf Weaving Mills. The increasing losses and negative cash flow raise serious concerns about the company’s ability to sustain operations. A price target cannot be provided due to the fundamental issues, but it is likely to be substantially lower than the current market price. Time horizon: Short-term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

⏸️ BAPL: HOLD Signal (4/10) – Applied for extension for holding of Annual General Meeting for the year ended June 30, 2025

⚡ Flash Summary

Bawany Air Products Limited (BAPL) has applied for a 30-day extension to hold its Annual General Meeting (AGM) for the year ended June 30, 2025. The extension is sought because the auditors have not yet finalized the annual accounts. BAPL also requests a 30-day extension for publishing the September 2025 first-quarter financial statements. The extension request is submitted to the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange.

Signal: HOLD ⏸️
Strength: 4/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📅 BAPL applied for a 30-day extension for holding the AGM for the year ended June 30, 2025.
  • 📝 The reason for the extension is the delay in finalizing the annual accounts by the auditors.
  • 🏛️ The company also seeks a 30-day extension for publishing the first-quarter financial statements ending September 2025.
  • 🤝 The application is submitted to the Securities and Exchange Commission of Pakistan (SECP).
  • 📜 Company registration No.Q-25 1978-79-(0006393)
  • 🗓️ Last AGM was held on October 28, 2024, for the year ended June 30, 2024.
  • 🕒 The company needs to hold the Annual General Meeting by October 28, 2025.
  • 📑 BAPL attached documents with the application, including paid challans for extension fees.
  • 🧾 Paid Challan for Rs.15,025 for Extension Fee of Annual General Meeting June 30 2025
  • 🧾 Paid Challan for Rs.1,025 Extension in 1st quarter ending September 2025
  • ✍️ Naim Anwar, Chief Executive Officer, signed the application.
  • 🏢 The company’s registered office is located at Nadir House, I.I. Chundrigar Road, Karachi.
  • 📞 The company’s telephone number is (92-21) 32415471-3.

🎯 Investment Thesis

Given the lack of financial information and the delay in finalizing accounts, a HOLD recommendation is appropriate. Further investigation into the reasons for the delay and a review of the finalized financial statements are necessary before making a more informed investment decision.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

⏸️ CRTM: HOLD Signal (5/10) – Transmission of Annual Report for the Year Ended 2025-06-30

⚡ Flash Summary

The Crescent Textile Mills Limited reported a mixed financial performance for the year ended June 30, 2025. Revenue declined by 20% to Rs. 19,004 million, but gross profit increased by 25% to Rs. 1,704 million due to a shift towards margin-oriented customers. However, the company faced challenges including rising energy costs, minimum wage rates, and other macroeconomic factors that collectively constrained its overall financial performance, resulting in a net loss after tax of Rs. 287 million. The Board does not recommend any dividend for the year.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📉 Revenue decreased by 20% to Rs. 19,004 million due to declined sales.
  • 📈 Gross profit increased by 25% to Rs. 1,704 million through margin fetching margin-oriented customers.
  • ⚠️ Net margins were pressured by rising energy costs, minimum wage rates, and macroeconomic factors.
  • ❌ Net loss after tax was Rs. 287 million, compared to a loss of Rs. 1,750 million in the previous year.
  • 📉 Export topline decreased by 38%, but sales margins improved.
  • 📈 Local sales increased, but margins remain depressed.
  • 💰 Selling and distribution costs decreased by 31%, primarily due to lower export volumes.
  • 📈 Other income increased by Rs. 127 million due to exchange gains.
  • 📉 Finance cost decreased by 29% due to SBP policy rate reductions.
  • ➕ Asset base increased by Rs. 2,382 million, improving financial strength.
  • ▶️ The Board does not recommend any dividend for the year.
  • ⚡️ Enhanced processing capacity by adding digital printing machine and waste heat boiler.

🎯 Investment Thesis

HOLD. Mixed financial performance reflects top-line challenges but improvements in operational efficiency. The absence of dividend payments will not entice shareholders to invest further, but no sell off should occur given a reduction in the previous year’s losses. Challenging to give a specific price target.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

📉 SUHJ: SELL Signal (8/10) – Financial Results for the Year Ended

⚡ Flash Summary

SUHJ (Suhail Jute Mills Limited) has reported financial results for the year ended June 30, 2025. The company experienced no sales or cost of sales, resulting in zero gross profit. Consequently, the company reported a loss before and after taxation of PKR 55,134,581. The loss per share stood at PKR 12.72 for the year, compared to a loss of PKR 15.01 in the previous year.

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

📌 Key Takeaways

  • ❌ No Sales: The company recorded zero sales for the year ended 30.06.2025.
  • 📉 Loss Before Taxation: A loss before taxation of PKR 55,134,581 was reported.
  • 📉 Loss After Taxation: The company’s loss after taxation also stood at PKR 55,134,581.
  • 🔻Administrative Expenses: Administrative expenses amounted to PKR 52,496,831, a decrease from PKR 56,548,528 in 2024.
  • 🔻Finance Cost: Finance costs were PKR 2,637,750, slightly higher than PKR 2,632,390 in 2024.
  • 📉 Loss Per Share: The loss per share was PKR 12.72, an improvement from PKR 15.01 in the previous year.
  • 🚫 Cost of Sales: Cost of sales remained at zero, consistent with the previous year.
  • 🚫 Gross Loss: There was no gross loss reported, corresponding to zero sales.
  • ➖ Other Operating Expenses: No other operating expenses were recorded.
  • ⚠️ Consistent Losses: The company has consistently reported losses, indicating potential operational challenges.
  • 📉 Improved EPS: Despite the losses, the loss per share improved from PKR 15.01 to PKR 12.72.
  • 🏛️ Expense Management: Administrative expenses saw a reduction, indicating cost-saving measures.

🎯 Investment Thesis

Given the absence of revenue, ongoing losses, and significant operational risks, a SELL recommendation is warranted for SUHJ. The company’s inability to generate sales raises serious concerns about its viability. Without a clear turnaround plan and evidence of revenue generation, the investment carries substantial risk. A price target cannot be reliably established due to the lack of financial activity. Time horizon: Short to medium term, as the company’s financial health remains precarious.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

📉 ICCI: SELL Signal (8/10) – Financial Results for the Year Ended June 30, 2025

⚡ Flash Summary

ICC Industries Limited reported financial results for the year ended June 30, 2025. The company experienced a decrease in revenue compared to the previous year, along with a significant loss after taxation. Despite an actuarial gain on employee benefit obligations, the total comprehensive loss for the year was substantial. The Board of Directors has recommended a Nil dividend for the fiscal year 2025.

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

📌 Key Takeaways

  • 📉 Revenue decreased from 52,974,017 Rupees in 2024 to 50,148,461 Rupees in 2025, indicating a decline in sales.
  • ❌ Gross profit decreased from 32,884,970 Rupees in 2024 to 30,057,630 Rupees in 2025.
  • 📉 Operating loss widened from (5,334,841) Rupees in 2024 to (10,076,609) Rupees in 2025, highlighting operational challenges.
  • ⚠️ Loss before taxation significantly increased from (464,487) Rupees in 2024 to (5,957,384) Rupees in 2025.
  • 📉 Loss after taxation increased from (11,648,023) Rupees in 2024 to (16,538,392) Rupees in 2025, showcasing deteriorating profitability.
  • ✅ Actuarial gain on employee benefit obligations decreased substantially from 4,185,057 Rupees in 2024 to 407,510 Rupees in 2025.
  • 📉 Total comprehensive loss for the year widened from (7,462,966) Rupees in 2024 to (16,130,882) Rupees in 2025.
  • ❌ Loss per share (basic and diluted) increased from (0.39) Rupees in 2024 to (0.55) Rupees in 2025.
  • 💰 Nil dividend was recommended for the year ended June 30, 2025.
  • 📉 Trade debts decreased significantly from 4,884,890 Rupees to 566,166 Rupees.

🎯 Investment Thesis

Given the declining revenue, increasing losses, and negative trends in key financial metrics, a SELL recommendation is warranted. The company’s financial performance indicates significant challenges that need to be addressed. The nil dividend further reduces the attractiveness of the stock. The investment thesis is based on the deteriorating financial health of the company and the absence of positive catalysts.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

📉 LEUL: SELL Signal (8/10) – Financial Results for the Year Ended 30-06-2025

⚡ Flash Summary

Leather Up Limited reported a challenging financial year ending June 30, 2025. The company experienced a significant decrease in sales revenue, leading to a substantial net loss. The statement of financial position shows a decrease in total assets and total equity and liabilities. The negative profit per share raises concerns about the company’s profitability.

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

📌 Key Takeaways

  • 📉 Sales revenue decreased by 56.1% from Rs 27,525,256 in 2024 to Rs 12,086,203 in 2025.
  • 💔 Gross profit turned into a gross loss of Rs 1,199,957 in 2025 compared to a profit of Rs 6,276,599 in 2024.
  • 😟 Operating loss significantly increased to Rs 4,987,519 in 2025 from Rs 90,821 in 2024.
  • ⛔ Loss before taxation was Rs 4,508,641 in 2025, compared to a profit of Rs 321,682 in 2024.
  • ❌ Loss after taxation was Rs 4,508,641 in 2025, a sharp decline from a profit of Rs 321,682 in 2024.
  • 📉 Loss per share was Rs 0.75 in 2025, compared to earnings per share of Rs 0.05 in 2024.
  • 📉 Total assets decreased from Rs 28,465,209 in 2024 to Rs 21,930,590 in 2025.
  • 📉 Stock-in-trade decreased significantly from Rs 17,840,117 in 2024 to Rs 10,342,437 in 2025.
  • ⬆️ Actuarial gain on defined benefit increased slightly to Rs 123,662 in 2025 from Rs 144,599 in 2024.
  • ⬇️ Accumulated losses increased from Rs 44,468,647 in 2024 to Rs 48,977,289 in 2025.
  • ⬇️ Total equity and liabilities decreased from Rs 28,465,209 in 2024 to Rs 21,930,590 in 2025.
  • 💸 Net cash used in operating activities was Rs 561,350 in 2025, compared to cash generated of Rs 1,427,613 in 2024.
  • Loan from directors decreased from Rs 88,600 to Rs 33,600.
  • Trade and other payables decreased from Rs 6,022,104 to Rs 3,704,737.

🎯 Investment Thesis

Based on the analysis, a SELL recommendation is appropriate for Leather Up Limited. The company’s poor financial performance, negative profitability, and declining assets raise significant concerns about its ability to generate returns for investors. A price target of Rs 2.00 is set, based on the current distressed financial state and potential for further decline. This recommendation has a short-term time horizon of 6 months, reflecting the urgency of addressing the company’s financial issues.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

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