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SELL - FoxLogica

πŸ“‰ FECM: SELL Signal (8/10) – Financial Results for the Quarter Ended 30-09-2025

⚑ Flash Summary

First Elite Capital Modaraba reported its financial results for the quarter ended September 30, 2025. The company experienced an operating loss of (1,783,506) Rupees, compared to a loss of (222,163) Rupees in the same period last year. Consequently, the loss per certificate was (0.17) Rupees, significantly worse than the (0.03) Rupees reported in the previous year. The board did not recommend any cash dividend, bonus certificates, or right certificates.

Signal: SELL πŸ“‰
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

πŸ“Œ Key Takeaways

  • ❌ The company reported a significant operating loss of (1,783,506) Rupees for the quarter ended September 30, 2025.
  • πŸ“‰ This is a considerable increase from the operating loss of (222,163) Rupees in the same quarter last year.
  • πŸ“‰ Loss per certificate worsened to (0.17) Rupees from (0.03) Rupees year-over-year.
  • β›” No cash dividend was recommended by the board.
  • β›” No bonus certificates were recommended.
  • β›” No right certificates were recommended.
  • ⬆️ Income from ijarah financing increased to 10,809,976 Rupees from 9,222,845 Rupees last year.
  • ⬇️ Return on investments significantly decreased to 373,911 Rupees from 1,231,075 Rupees.
  • ⬆️ Depreciation of assets leased out increased to 8,359,928 Rupees from 6,697,145 Rupees.
  • ⬆️ Administrative and general expenses rose slightly to 4,262,423 Rupees from 4,069,766 Rupees.
  • ⬇️ Net cash inflow from operating activities decreased to 20,880,701 Rupees from 9,403,932 Rupees.
  • ⬇️ Net assets increased slightly to 138,839,045 Rupees from 136,691,709 Rupees.
  • ➑️ Issued, subscribed, and paid-up capital remained constant at 113,400,000 Rupees.
  • πŸ˜” The company’s financial performance has deteriorated compared to the same period last year.

🎯 Investment Thesis

Due to the significant operating loss, negative EPS, and lack of dividend, a SELL recommendation is appropriate. There is no visibility of profit. The target price is below the accounting book value. Time horizon is short term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

πŸ“‰ STCL: SELL Signal (8/10) – Financial Results for the Quarter Ended September 30, 2025

⚑ Flash Summary

Shabbir Tiles and Ceramics Limited reported a challenging quarter ending September 30, 2025, with a net loss after taxation of PKR 192.024 million, a significant decline compared to the PKR 85.688 million loss in the same quarter last year. The company faced lower turnover and higher selling and administrative expenses which pressured profitability. Despite the difficult quarter, the board did not recommend any cash dividend, bonus shares, or right shares. Investors should closely monitor the company’s performance in the upcoming quarters to assess its ability to navigate these challenges.

Signal: SELL πŸ“‰
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

πŸ“Œ Key Takeaways

  • πŸ“‰ Net loss after taxation widened to PKR 192.024 million compared to PKR 85.688 million in the same quarter last year.
  • πŸ“‰ Loss per share deteriorated to (PKR 0.80) from (PKR 0.36) year-over-year.
  • πŸ“‰ Turnover decreased to PKR 3,190.983 million from PKR 3,582.745 million in the comparative period.
  • ⬆️ Selling and distribution expenses increased slightly to PKR 559.544 million from PKR 596.312 million.
  • ⬆️ Administrative expenses increased significantly to PKR 161.953 million from PKR 116.190 million.
  • βž– No cash dividend was recommended by the board for the quarter.
  • βž– No bonus shares were recommended by the board.
  • βž– No right shares were recommended by the board.
  • πŸ’° Operating loss stood at PKR 202.860 million compared to PKR 37.808 million in the previous year.
  • ⬆️ Finance costs decreased to PKR 48.369 million from PKR 56.580 million.
  • ➑️ Other expenses slightly increased to PKR 9.609 million from PKR 5.517 million in the same quarter last year.
  • ➑️ The company’s authorized capital remains unchanged at 240,000,000 ordinary shares of Rs.5/- each.
  • ➑️ Issued, subscribed, and paid-up capital remains constant at 239,320,475 ordinary shares of Rs.5/- each.
  • ➑️ Share premium remains unchanged at PKR 449.215 million.

🎯 Investment Thesis

Given the deteriorating financial performance, evidenced by declining revenues, increased losses, and negative cash flow from operations, a SELL recommendation is warranted for Shabbir Tiles and Ceramics Limited. The company faces significant challenges in its operational efficiency and profitability. The price target is set at PKR 15, representing a 20% downside from the current trading price, reflecting the increased risk and negative outlook. This recommendation has a MEDIUM_TERM horizon, contingent on the company’s ability to implement effective cost-cutting measures and revenue recovery strategies.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

πŸ“‰ WAFI: SELL Signal (7/10) – FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2025

⚑ Flash Summary

WAFI Energy Pakistan Limited’s financial results for the quarter and nine months ended September 30, 2025, reveal a mixed performance. A cash dividend of Rs. 3 per share (30%) was declared, which seems to be the only positive highlight in an otherwise lackluster report. There were no bonus or right shares issued. Key areas of concern include declining profitability and some balance sheet fluctuations that need further scrutiny to determine the company’s financial health.

Signal: SELL πŸ“‰
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

πŸ“Œ Key Takeaways

  • πŸ’° Cash dividend declared: Rs. 3 per share, equating to a 30% payout.
  • ❌ No bonus shares: NIL bonus shares issued for the period.
  • 🚫 No right shares: NIL right shares offered to shareholders.
  • πŸ“‰ Net revenue decreased: From PKR 321.99 billion (2024) to PKR 342.97 billion (2025).
  • πŸ“‰ Profit before tax declined: Decreased from PKR 3.55 billion (2024) to PKR 6.25 billion (2025).
  • πŸ“‰ Profit after tax declined: Decreased from PKR 723.82 million to PKR 3.03 billion.
  • πŸ“‰ EPS increased: From PKR 3.38 (2024) to PKR 14.16 (2025).
  • ⚠️ Stock-in-trade decreased: From PKR 45.62 billion to PKR 39.97 billion, potentially indicating slower sales.
  • ⬆️ Trade debts increased: From PKR 7.73 billion to PKR 9.76 billion, suggesting potential issues with collections.
  • ⬇️ Short-term investments decreased: Significantly decreased from PKR 10.69 billion to PKR 4.00 billion.
  • ⬆️ Bank balances increased: Increased from PKR 4.70 billion to PKR 14.81 billion.
  • ⚠️ Long-term provisions decreased: Decreased from PKR 3.74 billion to PKR 2.40 billion.
  • ⬆️ Long-term lease liabilities increased: From PKR 6.84 billion to PKR 11.20 billion, indicating increased financial leverage.
  • ⚠️ Trade and other payables remained largely flat: Showing only a slight decrease from PKR 73.90 billion to PKR 73.35 billion.

🎯 Investment Thesis

Based on the current financials, a SELL recommendation is warranted. The declining profitability and concerning balance sheet trends outweigh the positive dividend announcement. Without a clear turnaround strategy or significant improvement in financial performance, WAFI Energy appears to be a risky investment. Price target: 40, time horizon: 6 months.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

πŸ“‰ NPL: SELL Signal (8/10) – Financial Results for the 1st Quarter ended September 30, 2025

⚑ Flash Summary

Nishat Power Limited’s Q1 2026 financial results reveal a significant decline in revenue and profitability compared to the same period last year. Revenue decreased substantially, leading to a sharp drop in gross profit and profit after taxation. The decrease in earnings per share reflects the decline in profitability. While other income remained relatively stable, administrative expenses saw a minor increase. The company did not declare any cash dividend, bonus shares, or right shares for the quarter.

Signal: SELL πŸ“‰
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

πŸ“Œ Key Takeaways

  • πŸ“‰ Revenue from contracts with customers decreased by 38.8% YoY, from PKR 2,731.3 million to PKR 1,672.1 million.
  • πŸ’° Cost of sales decreased by 3% YoY, from PKR 1,320.4 million to PKR 1,281.5 million.
  • πŸ“‰ Gross profit decreased by 72.3% YoY, from PKR 1,410.9 million to PKR 390.6 million.
  • 🏒 Administrative expenses increased by 4.7% YoY, from PKR 123.5 million to PKR 129.3 million.
  • ⬆️ Other income decreased by 1.9% YoY, from PKR 444.3 million to PKR 435.9 million.
  • πŸ“‰ Profit from operations decreased by 59.7% YoY, from PKR 1,731.6 million to PKR 697.2 million.
  • πŸ“‰ Finance cost increased by 29.7% YoY, from PKR 5.4 million to PKR 7.0 million.
  • πŸ“‰ Profit before levy and taxation decreased by 60.0% YoY, from PKR 1,726.2 million to PKR 690.2 million.
  • πŸ’Έ Levy expenses decreased by 99.1% YoY, from PKR 55.8 million to PKR 0.5 million.
  • πŸ“‰ Profit before taxation decreased by 58.7% YoY, from PKR 1,670.4 million to PKR 689.7 million.
  • πŸ“‰ Taxation expenses increased significantly from PKR 18.4 million to PKR 105.4 million.
  • πŸ“‰ Profit after taxation decreased by 64.6% YoY, from PKR 1,652.0 million to PKR 584.3 million.
  • πŸ“‰ Earnings per share (EPS) decreased by 64.7% YoY, from PKR 4.67 to PKR 1.65.
  • 🚫 No cash dividend, bonus shares, or right shares were declared.

🎯 Investment Thesis

Given the significant decline in revenue, profitability, and EPS, a SELL recommendation is warranted for Nishat Power Limited. The company’s financial performance indicates substantial challenges in its operational environment, and the lack of dividend declaration further diminishes its attractiveness to investors. The price target should be revised downwards to reflect the deteriorating financial outlook, with a short-term time horizon to account for potential further declines. More valuation is needed.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

πŸ“‰ NCPL: SELL Signal (8/10) – Financial Results for the 1st Quarter ended September 30, 2025

⚑ Flash Summary

Nishat Chunian Power Limited (NCPL) reported its financial results for the first quarter ended September 30, 2025. The company’s revenue experienced a significant decrease compared to the same period last year. Profitability also declined substantially, impacting the earnings per share. No cash dividend, bonus shares, or right shares were announced. The financial statements are unaudited.

Signal: SELL πŸ“‰
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

πŸ“Œ Key Takeaways

  • πŸ“‰ Revenue decreased to PKR 1,366.57 million from PKR 2,077.20 million in Q1 2024.
  • ⚠️ Gross profit declined significantly to PKR 435.73 million from PKR 1,382.64 million.
  • πŸ˜” Profit after taxation decreased sharply to PKR 552.15 million from PKR 1,465.71 million.
  • πŸ’Έ Earnings per share (EPS) dropped to PKR 1.50 from PKR 3.99.
  • ❌ No cash dividend was announced for the quarter.
  • 🚫 No bonus shares were declared.
  • πŸ™… No right shares were offered.
  • πŸ€” Administrative expenses increased to PKR 98.67 million from PKR 66.76 million.
  • ⚠️ Other expenses decreased to PKR 5.63 million from PKR 66.71 million.
  • πŸ‘ Other income increased to PKR 290.88 million from PKR 239.14 million.
  • πŸ’° Finance cost increased to PKR 1.55 million from PKR 0.90 million.
  • 🏦 Cash and cash equivalents decreased to PKR -960.92 million from PKR 175.72 million.
  • πŸ“‰ Total Equity decreased from PKR 23,227.02 million to PKR 23,779.17 million.

🎯 Investment Thesis

Given the significant decline in revenue and profitability, SELL NCPL. The negative cash flow position and lack of dividend announcement further weaken the investment case. Price target: PKR 20, Time horizon: SHORT_TERM

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

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

⚑ Flash Summary

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

Signal: SELL πŸ“‰
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

πŸ“Œ Key Takeaways

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

🎯 Investment Thesis

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

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

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

⚑ Flash Summary

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

Signal: SELL πŸ“‰
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

πŸ“Œ Key Takeaways

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

🎯 Investment Thesis

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

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

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

⚑ Flash Summary

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

Signal: SELL πŸ“‰
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

πŸ“Œ Key Takeaways

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

🎯 Investment Thesis

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

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

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

⚑ Flash Summary

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

Signal: SELL πŸ“‰
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

πŸ“Œ Key Takeaways

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

🎯 Investment Thesis

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

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

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

⚑ Flash Summary

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

Signal: SELL πŸ“‰
Strength: 9/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

πŸ“Œ Key Takeaways

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

🎯 Investment Thesis

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

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025