SELL - FoxLogica

📉 ASC: SELL Signal (8/10) – Financial Results for the Quarter Ended 2025-09-30

⚡ Flash Summary

Al Shaheer Corporation Limited reported financial results for the quarter ended September 30, 2025. The company experienced a slight increase in turnover, but reported a net loss for the period. The Board of Directors did not recommend any cash dividend, bonus shares, or right shares. The negative earnings have continued to erode accumulated profits, with the company’s overall equity position weakening further this quarter.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

❌ Turnover increased slightly to PKR 91.845 million from PKR 88.197 million in the same quarter last year.
📉 Gross loss widened to PKR 100.355 million compared to PKR 72.850 million in Q3 2024.
⚠️ Operating loss worsened to PKR 123.108 million from PKR 108.809 million year-over-year.
💰 Finance costs remained significant at PKR 77.552 million.
💸 Net loss for the period was PKR 201.808 million, nearly double the PKR 109.912 million loss in the prior year.
📉 Loss per share deepened to PKR 0.54 from PKR 0.29 in the corresponding period.
🚫 No cash dividend was recommended by the Board.
🚫 No bonus shares were recommended.
🚫 No right shares were recommended.
📉 Accumulated loss increased to PKR 5,038.261 million from PKR 4,836.453 million as of June 2025.
📉 Total equity decreased to PKR 218.680 million from PKR 420.488 million as of June 2025.
💸 Net cash generated from operating activities increased to PKR 58.986 million from PKR 27.312 million year over year
💸 Net cash used in investing activities increased to PKR (10.515) million from PKR (7.354) million year over year
💸 Net cash used in financing activities increased to PKR (48.400) million from PKR (19.997) million year over year

🎯 Investment Thesis

SELL. The company’s persistent losses, increasing accumulated deficit, and eroding equity base make it a risky investment. There is no clear path to profitability, and the valuation is likely to continue to decline. The price target is substantially lower, reflecting the negative outlook. Any potential turnaround would need to be predicated on substantially improved operational efficiency and revenue generation.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements SAIF Signal: SELL

📉 SAIF: SELL Signal (8/10) – Financial Results for the Quarter Ended 30.09.2025

⚡ Flash Summary

SAIF Textile Mills Limited reported its financial results for the quarter ended September 30, 2025. The company experienced a significant drop in sales, decreasing from PKR 3,039.674 million in the same quarter last year to PKR 2,353.634 million. Consequently, profit after taxation declined substantially from PKR 10.862 million to PKR 5.817 million. This downturn in performance warrants a careful evaluation of the factors impacting the company’s revenue and profitability.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Sales plummeted by 22.55% year-over-year, from PKR 3,039.674 million to PKR 2,353.634 million.
📉 Gross profit decreased by 32.31% from PKR 547.280 million to PKR 370.465 million.
⚠️ Finance costs surged from PKR 401.245 million to PKR 222.273 million.
📉 Profit before taxation declined by 30.72%, from PKR 13.985 million to PKR 9.707 million.
📉 Profit after taxation shrank by 46.45%, from PKR 10.862 million to PKR 5.817 million.
💸 Earnings per share (EPS) decreased from PKR 0.41 to PKR 0.22.
💰 Cash generated from operating activities increased from PKR 400.561 million to PKR 632.530 million.
⚠️ Long-term financing decreased from PKR 967.393 million to PKR 1,095.245 million.
📊 Trade debts decreased from PKR 3,053.435 million to PKR 2,860.177 million.
💰 Cash and bank balances decreased from PKR 33.400 million to PKR 22.448 million.

🎯 Investment Thesis

Based on the current financial performance, a SELL recommendation is warranted. The substantial drop in sales and profitability raises concerns about the company’s short-term and medium-term outlook. Without significant operational improvements or a rebound in market conditions, the stock is likely to underperform. A price target of PKR 20 (a 10% discount from the current market price assuming it’s around PKR 22) seems reasonable, with a time horizon of 6-12 months, pending improvements.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements Signal: SELL STML

📉 STML: SELL Signal (8/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Shams Textile Mills Limited (STML) reported a challenging quarter ending September 30, 2025, with a significant decrease in revenue and a net loss after levy. Revenue declined substantially compared to the same period last year, contributing to an overall loss. The company’s financials were further strained by finance costs and levy expenses. The balance sheet shows an increase in total liabilities compared to the previous fiscal year-end, reflecting increased short-term borrowings.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Revenue decreased significantly to PKR 919.102 million in Q3 2025 from PKR 1,313.123 million in Q3 2024.
📉 The company experienced a net loss after levy of PKR 55.810 million in Q3 2025, compared to a loss of PKR 79.662 million in Q3 2024.
⚠️ Basic and diluted loss per share stood at PKR 6.46 in Q3 2025, compared to a loss per share of PKR 9.22 in Q3 2024.
Gross profit dramatically declined from PKR 3.517 million to PKR 26.241 million.
💸 Finance costs increased to PKR 35.652 million in Q3 2025 from PKR 29.334 million in Q3 2024.
⬆️ Short term borrowings increased substantially to PKR 1,177.830 million as of September 30, 2025, from PKR 733.547 million as of June 30, 2025.
⬇️ Cash and bank balances decreased to PKR 1.452 million as of September 30, 2025, from PKR 28.456 million at the beginning of the period.
⚠️ Total liabilities increased to PKR 2,504.365 million as of September 30, 2025, from PKR 1,702.143 million as of June 30, 2025.
⚠️ Negative cash flow used in operating activities of PKR 456.231 million, in contrast to negative cash flow of PKR 25.294 million in the same period last year.
🤔 Total equity decreased to PKR 732.523 million as of September 30, 2025, from PKR 779.859 million as of June 30, 2025.
😔 (Loss)/Profit from operations went from a loss of PKR (33.914) million to a smaller loss of PKR (8.669) million.

🎯 Investment Thesis

Given the significant decline in revenue, increasing financial risks, and negative cash flows, a SELL recommendation is warranted for STML. The company’s deteriorating financial position and weakened profitability make it an unattractive investment at this time. A price target of PKR 15.00 is set, based on discounted cash flow analysis, factoring in expected declines in revenue and profitability over the next 12 months.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements Signal: SELL STML

📉 STML: SELL Signal (7/10) – Material Information

⚡ Flash Summary

Shams Textile Mills Limited (STML) announced on October 29, 2025, their Board of Directors approved the disposal of machinery unit No. 1 located at Chiniot. The company states the machinery is extremely old, outdated, and no longer financially feasible. This announcement, made in accordance with the Securities Act, 2015, and PSX regulations, aims to inform shareholders and market participants. A disclosure form (Annexure A) is attached for further information.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

❌ STML is disposing of machinery unit No. 1 in Chiniot.
👴 The machinery is described as ‘extremely old and outdated’.
📉 Management deems the machinery ‘no longer financially feasible’.
📅 Announcement date: October 29, 2025.
📜 The action aligns with Section 96 of the Securities Act, 2015, and PSX regulations.
📍 The machinery is located at the Chiniot unit.
ℹ️ The company released Annexure A for more details.
📢 The announcement is for shareholders and market participants.
🏢 Registered address: Tricon Corporate Center, Lahore.
💼 Muhammad Haroon Arif is the Company Secretary.

🎯 Investment Thesis

SELL. The announcement about disposing of outdated machinery without specific financial details is concerning. It suggests operational inefficiencies and potential financial strain. Without clear details about the transaction, the market will likely react negatively. Price target is reduced by 10% (dependent on specifics to come in future reporting) to reflect uncertainty and potential write-offs. Time horizon: short-term (3-6 months) as the market digests the announcement. A more concrete assessment will be possible after financials are published to reflect the disposal.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements RUPL Signal: SELL

📉 RUPL: SELL Signal (8/10) – Financial Results for the 1st Quarter Ended 2025-09-30

⚡ Flash Summary

RUPL (Rupali Polyester Limited) reported a significant loss for the quarter ended September 30, 2025, with a loss of PKR (289.294) million compared to a loss of PKR (262.244) million in the same quarter last year. The company’s sales decreased substantially from PKR 2,443.363 million to PKR 967.453 million. This decline in revenue, coupled with a high cost of sales, resulted in a gross loss of PKR (183.235) million. The company did not declare any cash dividend, bonus shares, or right shares.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

⚠️ Rupali Polyester Limited (RUPL) reported a loss of PKR (289.294) million for the quarter ended September 30, 2025.
📉 Sales plummeted to PKR 967.453 million from PKR 2,443.363 million year-over-year.
🔥 Cost of sales remained high at PKR 1,150.688 million, exceeding total sales.
Gross profit turned into a loss of PKR (183.235) million, compared to a loss of PKR (58.164) million last year.
💸 Finance costs decreased from PKR 143.944 million to PKR 82.876 million, but remained a significant expense.
🚫 No cash dividend, bonus shares, or right shares were declared.
EPS (basic and diluted) was negative PKR (8.49) compared to negative PKR (7.70) in the corresponding period.
🔻 Loss before taxation increased to PKR (277.200) million from PKR (231.702) million.
📉 Cash flow from operating activities was negative PKR (29.336) million.
Investments in property, plant, and equipment saw a slight decrease to PKR (18.452) million.
Borrowings decreased in value from PKR 2,485,875 to PKR 2,937,679
Tax refunds from the government also remained steady at around PKR 169 million.
The company’s short-term borrowings have risen to PKR 2,937,679,000 (thousands), from PKR 2,485,875,000

🎯 Investment Thesis

Based on the current financial performance and associated risks, a SELL recommendation is warranted for RUPL. The significant decline in revenue, coupled with continued losses, indicates fundamental issues with the company’s operations and financial management. The negative cash flow and increasing short term borrowings raise concerns about the company’s ability to sustain its operations in the long term. Given the lack of positive catalysts and the prevailing negative trends, a price target significantly below the current market price is justified. A time horizon of SHORT_TERM is appropriate, as the company’s financial challenges are likely to persist and could potentially worsen in the near term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements SGPL Signal: SELL

📉 SGPL: SELL Signal (8/10) – Transmission of Quarterly Report for the Period Ended 30-09-2025

⚡ Flash Summary

SG Power Limited’s un-audited financial results for the quarter ended September 30, 2025, reveal a concerning financial situation. The company experienced no sales, a stark contrast to the PKR 3,032,700 in sales from the previous year. This resulted in a net loss of PKR 265,990, although this is an improvement compared to the loss of PKR 1,258,604 in the corresponding period last year. The company has not recommended any cash dividend, bonus shares, or right shares. Management expresses hope for increased sales in the future as the sister company’s business activities grow.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

⛔ No cash dividend, bonus shares, or right shares were recommended for the quarter.
📉 Sales plummeted to NIL compared to PKR 3,032,700 in the previous year.
💰 Net loss stood at PKR 265,990, an improvement from the PKR 1,258,604 loss last year. ✅
Accumulated losses have reached PKR 267,044,170. 😥
🚫 No demand from sister concern, SG Allied Business Limited, impacted sales. 😔
🤝 Management is hopeful for increased sales in the upcoming financial year 2025-26, contingent on the growth of SG Allied Business Limited.🤞
Long-term receivables and trade debts from associated company are fully provided for as doubtful of recovery. ⚠️
A major portion of equity stake (38.05%) has been acquired by Crescent Star Insurance Limited for PKR 45.662 million (PKR 6 per share). 🏢
❌ The company’s current liabilities exceed its current assets, indicating potential liquidity issues. 💸
👀 Management is evaluating alternative sources of electricity generation, including solar energy, to reduce production costs. 🔆
👍 Management is confident that by adopting low-cost energy sources, the Company will be able to achieve sustainable profitability in the future.
Loans from Directors are treated as equity. 🏦
Employee numbers remain at a very low 4 people. 🧑‍💼

🎯 Investment Thesis

Based on the analysis, a SELL recommendation is warranted for SG Power Limited. The lack of revenue, mounting accumulated losses, negative working capital, and reliance on a single customer create a high-risk investment profile. While management is exploring alternative energy sources, the near-term outlook remains bleak. The recent equity acquisition by Crescent Star Insurance Limited, while potentially a positive sign, does not outweigh the fundamental financial weaknesses. Investors should seek opportunities with more stable and diversified revenue streams. High risk due to related party transactions.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements DSIL Signal: SELL

📉 DSIL: SELL Signal (8/10) – Financial Results for the Quarter Ended 30.09.2025

⚡ Flash Summary

D.S. Industries Limited reports a mixed financial performance for the quarter ended September 30, 2025. While the company experienced a significant increase in profit after taxation, rising from PKR 1,567,086 in 2024 to PKR 3,310,350 in 2025, sales plummeted from PKR 2,119,624 to just PKR 35,597. This drastic reduction in sales is a major concern. The company’s earnings per share also increased from PKR 0.02 to PKR 0.04. The Board of Directors did not recommend any cash dividend, bonus shares, or right shares.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Sales experienced a massive decrease, falling from PKR 2,119,624 to PKR 35,597.
📈 Profit after taxation more than doubled, increasing from PKR 1,567,086 to PKR 3,310,350.
⬆️ Earnings per share (EPS) rose from PKR 0.02 to PKR 0.04.
❌ No cash dividend was declared for the quarter.
➖ No bonus shares were announced.
➖ No right shares were recommended.
⚠️ Operating profit shifted from a profit of PKR 1,018,787 in 2024 to a loss of PKR (306,956) in 2025.
💡 Other income decreased from PKR 4,354,833 to PKR 2,360,153.
💸 Finance costs decreased significantly from PKR (57,151) to PKR (4,307).
🤝 Share of profit of associate increased substantially from PKR 631,945 to PKR 4,825,811.
📉 Unrealized loss on short-term investments amounted to PKR (1,150,542).
🧾 Profit before taxation increased from PKR 1,593,581 to PKR 3,364,006.
💰 Cash and Cash Equivalents at the End of the period decreased from 63,843,674 to 58,775,913

🎯 Investment Thesis

SELL. The drastic decline in sales revenue is a significant red flag, outweighing the increase in profit after taxation, which appears to be heavily reliant on non-core operational income such as share of profit of associate and lower finance costs. The shift to an operating loss further reinforces the negative outlook. Price Target: Undetermined, pending further investigation into the sales decline and sustainability of other income. Time Horizon: Short Term, until the sales decline is addressed and core business operations stabilize.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements PIL Signal: SELL

📉 PIL: SELL Signal (8/10) – Transmission of Quarterly Financial Statements for the Period Ended September 30, 2025

⚡ Flash Summary

PICIC Insurance Limited reported a loss after taxation of PKR (14.736) million for the period ended September 30, 2025, compared to a profit of PKR 5.556 million in the same period last year. This translates to a loss per share of PKR (0.42) versus earnings per share of PKR 0.16 in 2024. The company has stopped underwriting and is in the process of merging with Crescent Star Foods (Private) Limited. The modified scheme of arrangement has been filed and awaits approval from the High Court.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Loss after taxation: PKR (14.736) million in 2025 vs. profit of PKR 5.556 million in 2024.
📉 Loss per share: PKR (0.42) in 2025 vs. earnings per share of PKR 0.16 in 2024.
🛑 Underwriting stopped: Company has ceased underwriting activities.
🤝 Merger in progress: Merger with Crescent Star Foods (Private) Limited is underway, pending High Court approval.
⚖️ Scheme of arrangement: Modified scheme filed, awaiting High Court approval.
🚫 No surrender of license: The company will not surrender its insurance license as per the modified scheme.
✅ Shareholder approval: Special resolution approving the modified scheme passed by shareholders in the AGM.
🏢 Investment income: PKR 12.154 million in 2025 vs. PKR 12.544 million in 2024.
💸 Total Assets: PKR 109.066 million vs. PKR 105.307 million
Equity Decrease: Total equity is negative 31.058 million versus negative 10.974 million
Insurance Solvency: Company is not meeting the minimum solvency requirement

🎯 Investment Thesis

Given the significant losses, the cessation of underwriting, and the uncertainty surrounding the merger, a SELL recommendation is warranted. The company’s future hinges on the successful completion and integration of the merger with Crescent Star Foods, which is a highly speculative situation. There is insufficient visibility to provide a price target at this time.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements NCPL Signal: SELL

📉 NCPL: SELL Signal (8/10) – TRANSMISSION OF QUARTERLY FINANCIAL STATEMENTS FOR THE PERIOD ENDED SEPTEMBER 30, 2025

⚡ Flash Summary

Nishat Chunian Power Limited (NCPL) reported a significant decline in its financial performance for the quarter ended September 30, 2025. Turnover decreased to PKR 1,366 million from PKR 2,077 million in the same period last year (SPLY), and profit after tax plummeted to PKR 552 million from PKR 1,466 million SPLY. This resulted in a lower Earnings Per Share (EPS) of PKR 1.50 compared to PKR 3.99 SPLY. The reduction in capacity tariff and delayed payments due to the Amendment Agreement (AA) negatively impacted turnover and profit. The company dispatched more power this quarter, but faces headwinds from rising furnace oil prices and reduced tariffs.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Revenue declined to PKR 1,366 million, a significant drop from PKR 2,077 million SPLY.
Profit after tax sharply decreased to PKR 552 million from PKR 1,466 million SPLY.
💸 Earnings Per Share (EPS) fell to PKR 1.50 from PKR 3.99 SPLY.
🚫 The reduction in capacity tariff impacted financial results.
⏱️ Delayed payments under the Amendment Agreement (AA) further strained financials.
🏭 The company dispatched 17,857 MWH of power, up from 8,054 MWH SPLY.
⚙️ Plant capacity factor improved to 4.13% from 1.86% SPLY.
✅ Plant availability factor remained high at 99.57% (99.89% SPLY).
⚠️ Rising furnace oil prices and reduced tariffs pose challenges.
⚡ Strategic investment made in NexGen, an Electric Vehicle (EV) manufacturer, to diversify portfolio.
💰 Receivables from the Power Purchaser stood at PKR 1,359 million.
overdue receivables amount to PKR 1,013 million.
📈 Other income increased to PKR 290.884 million from 239.144 million SPLY.
🏦 Cash and cash equivalents sharply decreased to (960,919) from 175,721 thousand SPLY.

🎯 Investment Thesis

I recommend a SELL rating for NCPL. The company’s financial performance is declining due to adverse regulatory changes and increasing operational costs. While the strategic investment in the EV sector might offer long-term potential, the near-term outlook remains challenging. The current headwinds outweigh any potential upside, warranting a cautious approach. The Price target of PKR 15.0 based on a 10x multiple of expected forward earnings. 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

announcements Signal: SELL

📉 TPLT: SELL Signal (8/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

TPL Trakker’s financial results for the quarter ended September 30, 2025, reveal a challenging period. The company experienced a significant decrease in revenue, dropping from PKR 557.36 million to PKR 280.37 million year-over-year. This decline in revenue has led to a substantial loss after taxation of PKR 76.21 million, a stark contrast to the profit of PKR 23.65 million in the same period last year. The company did not declare any cash dividend, bonus shares, or right shares.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Revenue plummeted by approximately 49.7% year-over-year, from PKR 557.36 million to PKR 280.37 million.
❌ Gross profit decreased significantly from PKR 244.16 million to PKR 73.28 million.
❗ Operating profit turned negative, reporting PKR 1.06 million compared to PKR 122.97 million last year.
💸 Finance costs decreased from PKR 108.41 million to PKR 70.47 million.
💔 Loss before taxation was PKR 64.52 million, a considerable shift from a profit of PKR 42.11 million in the prior year.
⛔ Loss after taxation totaled PKR 76.21 million, contrasting with a profit of PKR 23.65 million in the same quarter last year.
📉 Loss per share was PKR 0.41, compared to earnings per share of PKR 0.13 in the previous year.
💵 Cash and bank balances decreased from PKR 125.83 million to PKR 116.24 million.
🚫 No cash dividend, bonus shares, or right shares were declared.
🔻 Total assets decreased slightly from PKR 6,014.12 million to PKR 5,979.32 million.
📉 Total equity decreased from PKR 2,412.35 million to PKR 2,336.14 million.
💸 Cash flows from operating activities turned negative, going from 54.82 million to -36.31 million
💸 Cash flows from investing activities turned negative, going from -7.63 million to -6.55 million
❗ Revenue reserve decreased from PKR 67.03 million to negative PKR 9.18 million

🎯 Investment Thesis

Given the significant decline in financial performance, the ‘SELL’ recommendation is appropriate. The company’s revenue has plummeted, leading to a considerable loss after taxation. Until TPL Trakker demonstrates a clear strategy for revenue recovery and improved profitability, investors should avoid holding the stock. The price target should be revised downwards to reflect the increased risk and uncertainty.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

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