NEGATIVE - FoxLogica

⏸️ PACE: HOLD Signal (4/10) – CORPORATE BRIEFING SESSION 2025

⚡ Flash Summary

Pace Pakistan Limited’s FY2025 corporate briefing reveals a challenging year with a significant drop in revenue, leading to a net loss. The company’s revenue decreased due to the absence of major property sales, and profitability was impacted by increased administrative expenses. Despite these challenges, Pace Pakistan is focusing on future growth through strategic portfolio diversification and aims to become a Sharia-compliant company within two years. Management is focused on projects like ‘The Circle’ which is under construction.

Signal: HOLD ⏸️

Strength: 4/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Revenue declined by 43% YoY, from PKR 2,056 million to PKR 1,167 million in FY25 due to lack of major property sales.
🏢 Cost of revenue decreased by 49% YoY to PKR 702 million, reflecting lower project and inventory outflows.
⬆️ Administrative expenses increased by 21% YoY to PKR 305 million due to higher operational and support costs.
💸 Other income decreased significantly by 74% YoY to PKR 51 million due to the absence of non-recurring gains.
⚠️ The company experienced a foreign exchange loss of PKR 95 million due to PKR depreciation against USD.
🏢 The company recognized a gain of PKR 6 million on investment property valuation, compared to a loss last year.
📉 Pre-tax profit showed significant decline from PKR 553 million profit to a loss of PKR 68 million.
📉 Profit after tax declined sharply from PKR 527 million profit to a loss of PKR 87 million.
📉 Earning per share (EPS) decreased from PKR 1.89 to a loss per share of PKR 0.31.
🏢 Existing projects include Mini Mall, First Capital Tower, First Capital Business Center and Woodlands.
🏗️ ‘The Circle’ is a key project under construction, spanning over 40 Kanals and featuring a 5-star hotel.
🏢 The company aims to be Sharia Compliant in the next 2 years.
🏢 Upcoming projects include Business Bay Lahore, DHA City Karachi X Woodlands, Orion & Crystal Towers and Infinity Homes.

🎯 Investment Thesis

Given the current financial performance and the risks involved, a HOLD recommendation is appropriate. While the company has a plan for strategic portfolio diversification and pursuing Sharia compliance could open up new investment opportunities, the near-term outlook is uncertain. Wait for the effects of actions by the new CEO to be seen.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements IML Signal: HOLD

⏸️ IML: HOLD Signal (5/10) – Transmission of Annual Report for the Year Ended June 30, 2025

⚡ Flash Summary

Imperial Limited’s Annual Report for the year ended June 30, 2025, reveals a mixed financial performance. Revenue decreased to Rs. 319.892 million from Rs. 381.530 million in 2024 due to lower fund placement income. Net profit declined significantly to Rs. 26.663 million from Rs. 78.961 million due to discontinued operations losses. The company is in the process of disposing of remaining assets and venturing into new business segments like Hydroponics and Construction, however, delays exist.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Revenue declined by 16.16% from Rs. 381.530 million to Rs. 319.892 million.
📉 Net Profit plummeted by 66.23% from Rs. 78.961 million to Rs. 26.663 million.
💧 Earnings per share (EPS) decreased from Rs. 0.80 to Rs. 0.27.
🏭 Operating profit reduced from Rs. 150.396 million to Rs. 142.000 million.
🏢 Assets classified as held for sale amount to Rs. 8,849.931 million.
🌱 Company is diversifying into Hydroponics and Construction projects.
⏳ Delays persist in the disposal of remaining assets.
🏦 Funds have been deployed in financial instruments, construction, and hydroponics.
❌ No dividend was recommended by the directors.
🤝 Board consists of experienced members, ensuring corporate governance.
⚖️ Auditors have raised a concern about non-compliance with corporate governance regulations regarding the composition of the board.
💰A sale of Assets located at Karmanwala, Tehsil Phalia, District Mandi Bahauddin is up for shareholder approval.
🌐 Online meeting (Zoom) facility available for shareholders to promote health and well-being.
🎫 E-voting and voting through postal ballot options available for shareholders.

🎯 Investment Thesis

Given the declining financial performance, continued operational risks, and concerns about governance, a HOLD recommendation is warranted. While the diversification strategy into Hydroponics and Construction may offer future potential, significant uncertainties remain. A target price cannot be reasonably established without a deeper understanding of future earnings potential.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements SGPL Signal: SELL

📉 SGPL: SELL Signal (6/10) – Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Regulations

⚡ Flash Summary

On November 21, 2025, SG Power Limited announced the sale of 25,000 shares by its Chief Executive/Director, Mr. Sohail Ahmed. The transaction occurred on November 20, 2025, and was executed through the Central Depository Company (CDC). The rate per share is listed as ‘Different,’ suggesting a price that may not be readily available or standard. This disclosure is in compliance with Clause 5.6.1 of the PSX Regulations and will be presented to the Board for consideration.

Signal: SELL 📉

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📅 Transaction Date: November 20, 2025
🏢 Company: S.G. Power Limited
👤 Director Involved: Mr. Sohail Ahmed, Chief Executive/Director
📉 Nature of Transaction: Sale of shares
🔢 Number of Shares Sold: 25,000
💰 Rate per Share: Specified as ‘Different’ (actual rate not disclosed)
🏦 Form of Shares: Held in Central Depository Company (CDC)
📜 Compliance: Transaction reported under Clause 5.6.1 of PSX Regulations
📢 Disclosure Date: November 21, 2025
✅ Board Consideration: Transaction to be presented to the Board
✉️ Reporting Authority: Pakistan Stock Exchange Limited
📍 Location: Karachi, Pakistan
💼 Position of Seller: CEO/Director

🎯 Investment Thesis

Given the sale of shares by a key executive (CEO/Director) and the lack of clarity on the transaction price, a SELL recommendation is warranted. The ‘Different’ rate per share adds uncertainty, and insider selling can negatively impact investor sentiment. Further investigation into the reasons for the sale and the company’s overall financial health is needed before considering a more positive outlook. I am establishing a target price based on the average volume weighted price of the past 5 days, accounting for a 10% potential discount. This is a SHORT_TERM outlook pending more information.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements CJPL Signal: SELL

📉 CJPL: SELL Signal (9/10) – Presentation of Annual Corporate Briefing Session FY 2025

⚡ Flash Summary

Crescent Jute Products Limited (CJPL) faces significant operational and financial challenges. The company ceased operations in May 2011 due to a shortage of working capital and declining demand. The company has an accumulated loss of Rs. 476.65 million as of June 30, 2025, resulting in negative equity. The management is implementing a closure plan involving asset disposal, but currently lacks funds for future business initiatives.

Signal: SELL 📉

Strength: 9/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 CJPL’s operations have been closed since May 2011.
🏭 The company decided to dispose of property, plant, and equipment in October 2011.
❌ All property, plant, and equipment were disposed of by June 30, 2019.
💰 The company’s accumulated losses as of June 30, 2025, amount to Rs. 476.65 million.
Equity has turned negative, with a balance of Rs. 203.38 million.
⛔ There was no revenue in FY 2024-25 due to non-operational status.
🏦 Other income of Rs. 1.141 million is mainly from bank accounts and gains on share sales.
💸 Administrative expenses totaled Rs. 8.507 million.
➖ Other expenses amounted to Rs. 35,000.
📉 Finance costs were Rs. 9,000.
❗ The company reported a loss before taxation of Rs. 7.410 million.
🧾 There was no taxation.
❌ The company reported a loss after taxation of Rs. 7.410 million.
📉 Accounts show a loss of Rupees 7.41 million for the year ended June 30, 2025, compared to a profit of Rupees 7.38 million in 2024.
⛔ The company currently lacks funds for future business plans.

🎯 Investment Thesis

Given CJPL’s dire financial situation, cessation of operations, and negative equity, a SELL recommendation is warranted. The company’s dependence on asset disposal and the lack of funding for future business plans do not offer a compelling investment case. There is little evidence to suggest a turnaround, and the risks far outweigh any potential return.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements MQTM Signal: SELL

📉 MQTM: SELL Signal (8/10) – PRESENTATION FOR CORPORATE BREIFING SESSION

⚡ Flash Summary

Maqbool Textile Mills Limited’s corporate briefing session presentation provides a glimpse into the company’s performance and future outlook. The company has a spinning capacity of 82,224 spindles and 576 MVS spindles and manufactures yarn. Turnover has decreased from Rs. 10,281 million in 2024 to Rs. 8,459 million in 2025. Net profit has significantly declined, resulting in substantial losses, with EPS also turning negative.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

🏭 Maqbool Textile Mills operates four spinning units with a substantial capacity.
📉 Turnover decreased from Rs. 10,281 million in 2024 to Rs. 8,459 million in 2025.
⚠️ The company experienced a net loss of Rs. (827.61) million in 2025.
📉 EPS declined to Rs. (44.90) in 2025.
🚫 No dividends were declared in 2023, 2024 and 2025.
📊 Current assets decreased from Rs. 3,844 million in 2024 to Rs. 3,540 million in 2025.
Liabilities increased from Rs. 5,445 million in 2024 to Rs. 5,203 million in 2025.
⚠️ The company faces challenges like fluctuating raw material prices and higher costs of doing business.
🌍 Economic instability and geopolitical issues pose risks.
🤝 The company engages in corporate social responsibility, including free medical facilities and group life insurance for employees.
📉 Significant decline in profitability from Rs. 268.5 million profit in 2022 to Rs. (827.61) million loss in 2025

🎯 Investment Thesis

Based on the current financial performance and the risks highlighted in the presentation, a SELL recommendation is warranted. The declining revenue, significant losses, and negative EPS indicate a need for substantial operational and strategic changes. Without a clear turnaround plan and signs of improvement, the stock is likely to underperform. Price Target: Significant downside. 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 21, 2025

announcements OLPL Signal: HOLD

⏸️ OLPL: HOLD Signal (6/10) – Presentation – Corporate Briefing Session 2025

⚡ Flash Summary

OLPL’s Corporate Briefing Session 2025 reveals a mixed financial performance. Revenue decreased from PKR 7.98 billion in FY24 to PKR 6.96 billion in FY25, while profitability also saw a slight decline from PKR 1.39 billion to PKR 1.23 billion. The EPS decreased from PKR 7.94 to PKR 6.99. Despite the decrease, OLPL maintains a strong focus on SME lending and is planning to diversify its product offerings and improve process efficiency through digitization.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

Revenue decreased from PKR 7.98 billion in FY24 to PKR 6.96 billion in FY25 📉.
Profitability declined from PKR 1.39 billion in FY24 to PKR 1.23 billion in FY25 📉.
Earnings Per Share (EPS) decreased from PKR 7.94 in FY24 to PKR 6.99 in FY25 📉.
OLPL disbursed a total of PKR 273 billion to SMEs over the last 39 years 💰.
Market capitalization stands at PKR 6.75 billion as of June 30, 2025 🏢.
74% of total disbursements in FY25 went to the SME & individual sector 🏦.
SME & individual represents 72% of the portfolio (61% of total assets) 📊.
The company maintains a Long Term AAA and Short Term A1+ credit rating ✅.
OLPL has 31 branches in 26 cities across Pakistan 📍.
Dividend including bonus shares increased to 55% in 2025 from 50% in 2024 ⬆️.
Price to Book ratio increased from 0.46 to 0.62 from June-24 to June-25 📈.
Dividend Yield decreased from 18.06% to 14.30% from June-24 to June-25 📉.
Total Assets increased from PKR 31.954 billion to PKR 35.417 billion ⬆️.
Total borrowings increased from PKR 18.235 billion to PKR 21.463 billion ⬆️.
The company is focused on digitization, automation, and new product offerings for future growth 🚀.

🎯 Investment Thesis

Given the decrease in revenue, profitability, and EPS, and the increase in borrowings, a HOLD recommendation is appropriate. While OLPL maintains strong credit ratings and a focus on the SME sector, the declining financial performance warrants caution. Further monitoring of the company’s strategic initiatives and their impact on future financial results is recommended.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements CSIL Signal: HOLD

⏸️ CSIL: HOLD Signal (6/10) – Response to Allegation Contained in Your Letter dated 3 November 2025

⚡ Flash Summary

Crescent Star Insurance Limited (CSIL) has issued a response to allegations made by the Pakistan Stock Exchange (PSX) in a letter dated November 3, 2025. CSIL strongly objects to what it deems unfounded, defamatory, and misleading assertions. The company claims the allegations attempt to divert attention from governance lapses by Tri-Star Power Ltd. CSIL defends its share acquisitions as open-market transactions and refutes accusations of price manipulation. They also highlight Tri-Star’s alleged failure to hold elections, denial of shareholder rights, and lack of transparency regarding National Investment Trust (NIT) Units.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🚨 CSIL refutes allegations of price manipulation and pump-and-dump practices.
🏢 CSIL claims all share acquisitions were made in the open market and disclosed to PSX and SECP.
⚖️ CSIL reserves the right to seek legal redress for misstatements.
❌ CSIL accuses Tri-Star Power Ltd. of governance lapses and diverting attention.
🗳️ CSIL alleges Tri-Star failed to hold elections and reconstitute the Board of Directors in contravention of the Companies Act 2017.
🚫 CSIL claims shareholders were denied access to the Annual General Meeting (AGM).
💰 CSIL points out the long-standing unresolved issue of National Investment Trust (NIT) Units seized in 1993.
❓ CSIL questions Tri-Star’s lack of transparency regarding the value and documentation of NIT Units.
🤝 CSIL urges Tri-Star to conduct fresh elections, provide AGM access clarification, and disclose full details of the NIT Units matter.
🛑 CSIL demands Tri-Star refrain from issuing defamatory statements without evidence.
⚠️ CSIL warns of further action with PSX, SECP, and other authorities if remedial steps aren’t taken.
📜 CSIL highlights violation of Section 132 of the Companies Act 2017 regarding shareholder voting rights.
🤥 CSIL implies Tri-Star’s reported NIT Unit values are lower than actual holdings.

🎯 Investment Thesis

Given the ongoing dispute and lack of clear financial data, a HOLD recommendation is appropriate. While CSIL defends itself against allegations, the presence of governance concerns and lack of transparency warrants caution. Investors should closely monitor the developments and regulatory actions 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 21, 2025

announcements FFLM Signal: HOLD

⏸️ FFLM: HOLD Signal (4/10) – 30 june 2025

⚡ Flash Summary

First Fidelity Leasing Modaraba reported a loss of Rs. 1.633 million for the year ended June 30, 2025, compared to a loss of Rs. 23.261 million in the previous year. Revenue decreased to Rs. 13.264 million from Rs. 12.157 million. The company’s performance is heavily reliant on the recovery of its major investment in a corporate tower and subsequent deployment of funds into revenue-generating activities. Legal cases are ongoing to recover funds from Enplan (Pvt) Limited, the entity constructing the corporate tower.

Signal: HOLD ⏸️

Strength: 4/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Sustained a loss of Rs. 1.633 million in 2025, improved from Rs. 23.261 million loss in 2024.
Revenue increased to Rs. 13.264 million in 2025 from Rs. 12.157 million in 2024.📈
Per certificate loss decreased to Rs. 0.06 in 2025 from Rs. 0.88 in 2024. 📜
Major investment locked in Enplan (Pvt) Limited’s corporate tower project. 🏗️
Recovery of Rs 35.0 million Morabaha Finance is currently being re-heard by a tribunal, with the next hearing scheduled for December 2, 2025. 🗓️
Lahore High Court case for Rs 204.0 million recovery has Enplan’s right to defend closed; a decision favoring Modaraba is expected soon.⚖️
Likely to recover decretal amounts from auction of mortgaged land and building. 🏦
One female director included, showing steps towards gender diversity. 👩
Provident fund value as of June 30, 2025, stood at Rs. 384,006. 💰
Auditors offered themselves as auditors for the fiscal year ending June 30, 2026. 🧑‍💼
Management visualizes brighter future prospects upon realization of real estate investments. ✨
Directors approved financial statements on November 5, 2025. ✅
Independent auditors gave a qualified opinion due to the matters described in the Basis for Qualified Opinion section of the report. ✍️
Auditors highlighted short term investments under Murabaha arrangements and Ijarah rentals receivable as a key audit matter. 🔍
Asset portfolio partially insured via conventional companies, recommended that it should be fully transitioned to Takaful as soon as possible. ☂️

🎯 Investment Thesis

Based on the available information, a HOLD recommendation is warranted. The company has shown some improvement by reducing losses, but it remains unprofitable and heavily reliant on the resolution of legal cases and real estate projects. A BUY recommendation is not justified due to ongoing risks and uncertainties. A SELL recommendation is also not appropriate given the potential for recovery from current legal battles and future real estate investments. Current outlook suggests the Modaraba should continue to improve by managing risk and liquidating investments in progress. The price target will hinge on a successful resolution of its legal battles.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements Signal: HOLD TPLP

⏸️ TPLP: HOLD Signal (5/10) – Financial Results for the Year Ended June 30, 2025

⚡ Flash Summary

TPL Properties Limited (TPLP) reported its unconsolidated financial results for the year ended June 30, 2025. The company did not declare any cash dividend, bonus shares, or right shares. The company experienced a significant net loss of PKR 1,287.34 million, compared to a net loss of PKR 3,630.15 million in the previous year, resulting in a loss per share of PKR 2.29. Despite the reduced loss, the financials indicate continued challenges in achieving profitability.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

❌ No cash dividend, bonus shares, or right shares declared for FY2025.
📉 Net loss significantly decreased to PKR 1,287.34 million from PKR 3,630.15 million YoY.
📉 Loss per share improved to PKR (2.29) from PKR (6.47) YoY.
📊 Total assets decreased from PKR 14,048.88 million to PKR 12,097.04 million.
📉 Revenue reserve decreased to PKR 3,311.03 million from PKR 4,598.37 million.
💰 Current liabilities decreased from PKR 4,041.94 million to PKR 3,042.82 million.
🏢 Property and equipment decreased from PKR 143.03 million to PKR 85.96 million.
💸 Long-term financing increased significantly to PKR 358.18 million from PKR 23.57 million.
📉 Administrative and general expenses decreased from PKR 650.75 million to PKR 372.71 million.
🔻 Finance costs decreased from PKR 603.20 million to PKR 507.74 million YoY.
⬆️ Other income decreased from PKR 708.57 million to PKR 255.13 million YoY.
⚠️ Unrealized loss on investment in TPL REIT Fund I decreased from PKR 3,084.78 million to PKR 639.14 million.

🎯 Investment Thesis

HOLD. While the reduced loss is a positive sign, TPLP needs to demonstrate consistent profitability and improve its liquidity position before a more positive recommendation can be considered. I recommend the investor to hold the stock. A future BUY recommendation would depend on achieving profitability and improving financial stability.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements CFL Signal: SELL

📉 CFL: SELL Signal (7/10) – CORPORATE BREFING SESSION 2025

⚡ Flash Summary

Crescent Fibres Limited (CFL) held a corporate briefing session on November 18, 2025, to discuss its financial performance for the year ended June 30, 2025. The company’s sales decreased significantly from Rs. 6,499.839 million in 2024 to Rs. 4,330.539 million in 2025. This decline in revenue resulted in a net loss of Rs. 775.712 million in 2025 compared to a net loss of Rs. 758.435 million in the previous year. The company plans to install alternative energy sources to reduce costs and improve profitability amid challenging industry conditions.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Sales decreased from Rs. 6,499.839 million in 2024 to Rs. 4,330.539 million in 2025.
❌ Net loss increased from Rs. 758.435 million in 2024 to Rs. 775.712 million in 2025.
📉 Gross profit turned into a gross loss of Rs. 356.412 million in 2025 compared to a gross profit of Rs. 249.321 million in 2024.
💸 Cost of sales was Rs. 4,686.952 million in 2025, exceeding the revenue of Rs. 4,330.539 million.
🏭 Company operates two spinning units with a combined capacity of 76,176 spindles.
🌱 Initiative to install alternative energy sources (solar power) at Textile Unit 2 in Bikhi.
💡 Breakup value per share decreased from Rs. 318.81 in 2024 to Rs. 259.43 in 2025.
⚠️ Textile industry faces challenges like recessionary trends, high interest rates, and unfavorable taxation policies.
⚡️ Finance costs decreased from Rs. 272.596 million in 2024 to Rs. 199.459 million in 2025.
🏛️ Total assets decreased from Rs. 6,803.995 million in 2024 to Rs. 6,002.158 million in 2025.
Shareholder equity decreased from Rs. 3,953.412 million in 2024 to Rs. 3,221.562 million in 2025.

🎯 Investment Thesis

Based on the analysis, a SELL recommendation is appropriate for CFL. The company’s financial performance has deteriorated significantly, and it faces numerous risks and challenges. The company’s losses are increasing and revenue is decreasing. The plans to increase efficiency are positive but do not provide confidence for an immediate turnaround. The current valuation is not attractive, and a further decline in the share price is likely.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

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