NEGATIVE - FoxLogica

📉 PSEL: SELL Signal (7/10) – Application for further Extension in Time for Holding the Annual General Meeting for the year ended June 30, 2025 not approved by SECP

⚡ Flash Summary

The Securities and Exchange Commission of Pakistan (SECP) has denied Pakistan Services Limited’s request for an extension to hold its Annual General Meeting (AGM) for the year ended June 30, 2025. The decision, communicated via a letter dated November 13, 2025, states that no legal provision empowers the Commission to grant the requested extension. This denial could lead to regulatory scrutiny and potential penalties for the company. The market may perceive this negatively, impacting investor confidence.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

❌ SECP rejects Pakistan Services Limited’s request for AGM extension.
🗓️ The extension request pertains to the AGM for the year ending June 30, 2025.
🏛️ SECP cites the absence of legal provisions empowering it to grant the extension.
✉️ The decision was communicated in a letter dated November 13, 2025.
📜 The company’s initial request was made in a letter dated November 7, 2025.
⚠️ This denial may lead to regulatory penalties for the company.
📉 Investor confidence could be negatively impacted by this development.
🤔 The market may view this negatively, potentially affecting the stock price.
🔍 Further investigation is warranted to understand the reasons behind the delay in holding the AGM.
❓ The company must now adhere to the original deadline or face consequences.
📅 Investors should monitor the company’s next steps regarding the AGM.
📊 The SECP’s decision underscores the importance of regulatory compliance.
💼 Rida Khurram Mughal, Management Executive at SECP, signed the letter.

🎯 Investment Thesis

SELL. The SECP’s denial of the AGM extension request signals a failure in corporate governance and raises concerns about the company’s operational efficiency and potential financial distress. The risk of regulatory penalties and negative investor sentiment outweighs any potential upside. A price target cannot be accurately provided without further financial data; however, investors should reduce their exposure to PSEL until the AGM issue is resolved and greater clarity on the company’s financial situation emerges.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements FECTC Signal: HOLD

⏸️ FECTC: HOLD Signal (5/10) – CORPORATE BREIFING SESSION – 2025 REVOKED

⚡ Flash Summary

Fecto Cement Limited has announced the revocation of its Corporate Briefing Session for the financial year ended June 30, 2025. The briefing was scheduled to be held via Zoom on December 19, 2025, to brief shareholders, analysts, and investors about the company’s financial performance. The announcement was made on November 14, 2025. The reason for the revocation was not specified.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

❌ Corporate Briefing Session for FY2025 has been revoked.
🗓️ Original briefing was scheduled for December 19, 2025.
💻 Briefing was planned to be held via Zoom.
📢 Announcement was made on November 14, 2025.
🏢 The briefing aimed to cover financial performance of Fecto Cement Limited.
🧑‍💼 Target audience included shareholders, analysts, and investors.
📧 Registration required sending an email to CBS@fectogroup.com.
📃 Subject line for registration email: ‘Registration for Annual Corporate Briefing Session for the year-ended June 30, 2025’.
📧 Zoom link and login details to be shared with registered participants.
⏳ Registration deadline: close of business hours on December 18, 2025.
❓ Participants could send questions in advance via email.
🏢 Fecto Cement Limited’s registered office is in Karachi, Pakistan.
📞 Contact PBX: (+9221) 35248921-22-23 & 24.
🌐 Website: www.fectogroup.com

🎯 Investment Thesis

HOLD. The cancellation of the briefing introduces uncertainty. Without more information, it’s prudent to neither buy nor sell. Further investigation is needed to understand the reasons for the cancellation before making an investment decision.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements JDMT Signal: SELL

📉 JDMT: SELL Signal (9/10) – Corporate Business Session Presentation 2025

⚡ Flash Summary

Janana De Malucho Textile Mills Limited (JDMT) reported significantly decreased sales for the year ended June 30, 2025, with a turnover decrease of Rs. 4,361 million compared to the previous year, leading to a net loss after taxes of Rs. 754.804 million. The company attributes this decline to lower yarn availability due to temporary production suspensions and reduced demand because of cheaper imported yarn. They are facing gross and operational losses of Rs.485.835 million and Rs.512.974 million respectively. Despite the current losses, JDMT is focusing on future improvements by installing a megawatt solar plant, optimizing yarn production based on market factors, and adopting lean production practices.

Signal: SELL 📉

Strength: 9/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Turnover decreased by Rs. 4,361 million compared to last year.
🏭 Temporary suspension of production contributed to lower sales volume.
🌍 Cheaper imported yarn impacted demand for local products.
❌ Gross loss of Rs. 485.835 million was incurred.
📉 Loss from operations amounted to Rs. 512.974 million.
💸 Net loss after taxes was Rs. 754.804 million.
📉 Loss per share is (Rs. 109.14) compared to (Rs. 67.61) last year.
⚡ Installation of a 1 MW solar plant is planned to reduce power bills.
🧶 Optimizing yarn production based on market factors is underway.
🤝 Support expected from the parent company.
💰 Rationalization and reduction of costs are being implemented.
✅ Lean production practices being adopted to improve productivity.
🚫 Imported yarn is now subject to sales tax.
💡 Prime Minister’s relief package expected to reduce electricity costs.
🏢 Company was incorporated in 1960 and has 64,704 spindles installed.

🎯 Investment Thesis

Given the significant financial losses, declining revenue, and operational challenges, a SELL recommendation is warranted for JDMT. The company’s efforts to reduce costs and improve efficiency may offer some long-term potential, but the immediate outlook is bleak. Price target: Rs. 500.00, Time horizon: 6 months based on break up value.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements MTL Signal: HOLD

⏸️ MTL: HOLD Signal (6/10) – Presentation of Corporate Briefing Session-2025

⚡ Flash Summary

Millat Tractors Limited (MTL) reported results for the financial year ended June 30, 2025. The tractor industry experienced a 36% decrease in overall sales, and MTL’s sales decreased by 39% in terms of units sold. MTL achieved a market share of 64% despite the industry downturn. The decrease is attributed to government policies and the Green Tractor Scheme, which incentivized farmers to postpone purchases in anticipation of future benefits. The company is focusing on exploring foreign markets to offset stagnating domestic demand.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Overall tractor industry sales decreased by 36%, from 45,494 to 29,192 units.
🚜 MTL’s tractor sales declined by 39%, achieving 18,580 units.
📊 MTL maintained a 64% market share in the tractor industry.
📉 Revenues decreased by 43% to Rs. 52,109 million.
📉 Gross profit decreased by 35% to Rs. 13,867 million.
📉 Profit before tax decreased by 52% to Rs. 8,064 million.
📉 Profit after tax decreased by 38% to Rs. 6,373 million.
📉 Basic and diluted EPS decreased by 39% to Rs. 31.94.
⬆️ Finance costs increased by 82% to Rs. 2,173 million.
📉 Export volume decreased to 2,607 units from 2,761 units last year.
💰 Sales tax refund claims stand at Rs. 7.59 billion as of June 30, 2025.
🌱 MTL is exploring foreign markets to grow exports due to stagnating domestic demand.
🌍 TIPEG Intertrade DMCC made sales of AED 19 million during the year.
🏢 Dividend received by MTL from MIPL was Rs. 46 million.
🌱 MTL is actively pursuing sustainable measures to reduce environmental impact.

🎯 Investment Thesis

Given the significant decline in financial performance, the current economic challenges, and the risks associated with operations and regulations, a HOLD recommendation is appropriate. It is essential to observe MTL’s ability to navigate these challenges and adapt to the changing market conditions. A potential BUY opportunity may arise if MTL can stabilize its sales, improve profitability, and reduce costs.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements SGPL Signal: SELL

📉 SGPL: 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 November 15, 2023, S.G. Power Limited disclosed the sale of shares by its Chief Executive/Director, Mr. Sohail Ahmed. The transaction involved the sale of 50,000 shares on November 13, 2023, at a rate of Rs. 13.3 per share. The shares were in CDC form. This transaction will be presented in the subsequent board meeting for consideration as required by PSX regulations.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

👨‍💼 Director/CEO Sohail Ahmed sold shares.
🗓️ Transaction date: November 13, 2023.
📉 50,000 shares were sold.
💰 Sale price: Rs. 13.3 per share.
📄 Shares held in CDC form.
🏢 Company: S.G. Power Limited.
📜 Disclosure under PSX regulation 5.6.1.
📢 Transaction to be presented at the next board meeting.
📍 Company address: Karachi, Pakistan.
📧 Contact email: Sohail.ahmed@sglyne.com.
🌐 Company website: www.sgpl.com.pk.
🗓️ Disclosure date: November 15, 2023

🎯 Investment Thesis

Based solely on the information provided, a SELL recommendation is given due to the potential negative signal from a director selling shares. More comprehensive analysis is needed to assess whether this sale reflects a genuine concern about the company’s future performance. Price target: Rs. 12.00. Time horizon: Short Term.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements SHCM Signal: SELL

📉 SHCM: SELL Signal (8/10) – Presentation of Corporate Briefing Session for the year ended June 30, 2025

⚡ Flash Summary

Shadman Cotton Mills Ltd. reported a challenging year for the year ended June 30, 2025, marked by a significant decline in net turnover. Revenue decreased from PKR 731.31 million in 2024 to PKR 509.96 million in 2025. The company experienced a gross loss of PKR 19.67 million compared to a gross profit of PKR 4.93 million in the prior year. This resulted in a loss after taxation of PKR 16.57 million, a substantial decrease from a loss of PKR 108.70 million in the previous year.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Net turnover decreased significantly to PKR 509.96 million in 2025 from PKR 731.31 million in 2024.
😔 The company reported a gross loss of PKR 19.67 million in 2025, compared to a gross profit of PKR 4.93 million in 2024.
❗️ Operating profit increased to PKR 13.92 million in 2025 from PKR 6.19 million in 2024.
💸 Loss before levies and taxation increased to PKR 28.93 million in 2025 from PKR 12.82 million in 2024.
📉 Loss after taxation was PKR 16.57 million in 2025, compared to PKR 108.70 million in 2024.
🌍 Geographical sales show a significant decrease in sales to the United Kingdom from PKR 62.62 million to PKR 54.16 million.
🇪🇸 Sales to Spain decreased from PKR 173.16 million to zero.
🇵🇱 Sales to Poland decreased from PKR 212.20 million to zero.
🇵🇰 Local sales increased from PKR 188.40 million to PKR 316.51 million.
📊 Export sales decreased from PKR 542.91 million to PKR 193.45 million.
⚠️ Three major customers account for more than 10% of total sales.
❗️The company operates as a single segment.
🇵🇰 All non-current assets and sales are originated from Pakistan.

🎯 Investment Thesis

Given the significant decrease in revenue and the shift to a gross loss, a SELL recommendation is warranted for Shadman Cotton Mills. The company’s financial performance indicates potential struggles in maintaining profitability and market share. The lack of diversification in customer base adds to the risk profile. Due to these issues, a significant return is very unlikely.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements POL Signal: HOLD

⏸️ POL: HOLD Signal (6/10) – Presentation of Corporate Briefing Session-2025

⚡ Flash Summary

Pakistan Oilfields Limited (POL) presented its Corporate Briefing Session-2025. The company highlighted its exploration and production activities across various blocks. Key production volumes for June 2025 included 1,622 thousand barrels of crude oil, 19,362 million cubic feet of gas, and 48,607 metric tons of LPG. The statement of profit or loss showed decreased net sales and profit for the year compared to June 2024, while exploration costs increased significantly.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🇵🇰 POL is a leading oil and gas exploration and production company listed on the Pakistan Stock Exchange.
📅 POL was incorporated on November 25, 1950, as a subsidiary of the Attock Oil Company Limited (AOC).
⛽ POL produces LPG, solvent oil, and Sulphur, marketing LPG under the POLGAS brand.
🛢️ POL operates a network of pipelines, including the Khaur Crude Oil Decanting Facility (KCDF).
🤝 POL holds a 25% share in National Refinery Limited.
🏢 AOC holds a 52.77% shareholding in POL.
💼 POL holds a 51% shareholding in CAPGAS (Private) Limited.
⛏️ At Ikhlas block, Jhandial-2 site track drilling is in progress at 17,200 ft.
🗺️ At Pariwali Lease, 57.28 Square Kilometer of 3D seismic data has been acquired out of 165.37 Square Kilometers.
🕳️ Adhi South-9 well is currently producing around 623 barrels of oil per day and 1.4 mmscf of gas per day.
💧 Makori Deep-03 well flowed 22.08 mmscf of gas per day and 2,112 barrels of condensate per day.
📈 North Dhurnal block has completed 3D Seismic data acquisition.
🚧 Razgir well pipeline construction has been completed, with production expected in the first quarter 2025-26.
📜 Multanai & Saruna West Blocks agreements have been signed with the Government (100% & 40% share respectively).
🏆 POL has won Jherruck Block with 100% share in the latest bidding round.

🎯 Investment Thesis

HOLD. The decrease in profitability is concerning, but the company is still profitable. The aggressive exploration program shows growth potential. I am neutral with current information. I will review once they address the decrease in profitability and sales and their next announcement. Price target Rs 300, time horizon 12 months.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

ALTN announcements Signal: SELL

📉 ALTN: SELL Signal (9/10) – Corporate Briefing Presentation 2025

⚡ Flash Summary

ALTRN Energy Limited’s (ALTN) corporate briefing presentation from November 2025 reveals a challenging situation. The company’s power generation has ceased from 2021-2025 due to reduced dispatch demand and unfavorable economic dispatch merit order. The company is seeking early termination of its agreements, including PPA, IA, and GoP Guarantee, following the termination of its subsidiary Rousch’s agreements in 2024. Financial highlights show a significant drop in revenue and net profit from 2019-2020 to 2024-2025, with the company reporting a net loss in 2022-23.

Signal: SELL 📉

Strength: 9/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Zero power generation from 2021-2025 due to reduced dispatch demand.
❌ Termination of Rousch’s agreements in 2024.
📜 Seeking early termination of PPA, IA, and GoP Guarantee.
🔍 Board of Directors recommended termination in March 2025.
✅ Shareholders approved termination in April 2025.
📝 Application for termination submitted in May 2025.
💰 Revenue decreased significantly to 0 in 2023-2025 from Rs. 116.8 million in 2019-2020.
💔 Net profit turned negative in 2022-23 with a loss of Rs. (72.86) million compared to a profit of Rs. 1,689.62 million in 2019-2020.
⛽ Shift to RLNG operations in September 2017 due to declining local gas resources.
💲 Increase in RLNG prices due to Pak Rupee devaluation and rising international prices.
🏭 Plant capacity: 31.2 MW at ISO conditions.
⚙️ Plant technology: IC Engines – simple cycle.
🏢 Company structure: AEL (Public Listed) -> PMCL (Private) -> RPPL (Public Unlisted).
🤝 CPPA-G is the off-taker.
📅 Agreements scheduled to expire in 2032 but terminated early with effect from October 1, 2024.

🎯 Investment Thesis

Given the company’s cessation of operations, negative profitability, and ongoing efforts to terminate key agreements, a SELL recommendation is warranted. The company faces significant financial, operational, market, and regulatory risks. There is no clear path to recovery or future profitability. The price target should be significantly reduced to reflect the distressed state of the company. Investors should seek opportunities in more stable and profitable IPPs.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements BCL Signal: SELL

📉 BCL: SELL Signal (7/10) – Presentation of Corporate Briefing Session 2025

⚡ Flash Summary

Bolan Castings Limited (BCL) faced significant headwinds in FY 2025 due to a sharp downturn in the agriculture sector and tractor industry in Pakistan. Production fell by 51% to 3,534 tons, and sales declined by 46% to 3,716 tons. Revenue decreased by 49% to Rs. 1,712.642 million. The company managed to contain its pre-tax loss to Rs. 0.555 million through cost-control measures and local material substitution. The potential Punjab Government’s subsidized tractor scheme for FY 2026 could provide recovery opportunities.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Pakistan’s economy showed gradual recovery, but the agriculture sector underperformed.
🚜 Tractor industry declined by 36.4% due to liquidity shortages and weak farm economics.
🏭 Production fell by 51% to 3,534 tons (from 7,228 tons).
📉 Sales declined by 46% to 3,716 tons (from 6,852 tons).
💰 Revenue decreased by 49% to Rs. 1,712.642 million.
✅ Pre-tax loss was contained to Rs. 0.555 million through cost control.
🚜 Punjab Government’s subsidized tractor scheme may boost sector demand in FY 2026.
🌍 GDP growth was 2.68%, with per capita income at US$1,824.
🔩 The company produces 13,200 tons per year of castings in grey and ductile iron.

🎯 Investment Thesis

Given the weak performance and challenging environment, a SELL recommendation is warranted. While the potential Punjab Government’s subsidy scheme offers some hope, the near-term outlook remains uncertain. A potential price target is not determined pending the evidence of an impact from the tractor subsidy.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

announcements RCML Signal: HOLD

⏸️ RCML: HOLD Signal (5/10) – Corporate Briefing Presentation 2025

⚡ Flash Summary

Reliance Cotton Spinning Mills Limited (RCSML) announced its Corporate Briefing Presentation for 2025. The company invested Rs. 577 million in plant and machinery during the year. Sales increased to Rs. 15.816 billion, up from Rs. 15.069 billion in 2024. Net profit, however, decreased significantly to Rs. 708 million from Rs. 1,315 million in the previous year, impacting profitability margins.

Signal: HOLD ⏸️

Strength: 5/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

✅ RCSML’s total installed capacity is 59,232 spindles (44,590,590 Lbs.).
🏭 The company invested Rs. 577 million in plant and machinery.
📈 Total sales increased to Rs. 15.816 billion from Rs. 15.069 billion, a 4.96% increase.
📉 Gross profit decreased to Rs. 1.932 billion from Rs. 2.237 billion, a 13.64% decrease.
📉 Net profit decreased to Rs. 708 million from Rs. 1.315 billion, a 46.2% decrease.
📊 Gross profit margin decreased from 14.84% to 12.21%.
📊 Net profit margin decreased from 8.72% to 4.47%.
💰 Dividend paid increased to Rs. 64 million from Rs. 41 million, a 56% increase.
💸 Breakup value per share increased to Rs. 881 from Rs. 839, a 5% increase.
🏢 Total Assets increased to Rs. 18.998 million from Rs. 17.724 million.
🏦 Shareholder equity increased to Rs. 9.379 million from Rs. 8.631 million.
⬆️ Consolidated sales reached Rs. 17.836 billion compared to Rs. 15.069 billion in the prior year.
⚠️ Finance costs decreased from Rs. 970 million to Rs. 643 million.
🌱 Profit after taxation increased to Rs. 2.921 billion from Rs. 1.637 billion.
Looking forward, management focuses on strengthening the company’s future by driving innovation, enhancing operational efficiency, and maintaining financial discipline.

🎯 Investment Thesis

Given the decreased profitability and uncertainties in the textile industry, a HOLD recommendation is appropriate. While revenue has increased and the company is investing in its operations, the declining profit margins need to be addressed. Investors should monitor RCSML’s ability to improve its profitability and manage costs effectively before considering a BUY rating. Price target: remain at current levels. Time horizon: Medium Term.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

+ More