SELL - FoxLogica

📉 GLPL: SELL Signal (8/10) – Corporate Briefing Session 2025 – Presentation

⚡ Flash Summary

Gillette Pakistan Limited (GLPL) faces significant challenges, as Procter & Gamble will discontinue business in Pakistan as part of a global restructuring. The company reported a loss after tax of PKR 25.95 million for the year ended June 30, 2025, compared to a profit of PKR 25.95 million the previous year. Despite a 15% increase in revenue driven by strategic interventions, macroeconomic headwinds and import duties impacted cost structures, resulting in a decrease in profitability. The sponsor, SABV, has proposed to buy back shares held by minority shareholders at PKR 216.49 per share.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 GLPL reported a loss after tax of PKR 25.95 million in 2025, a significant reversal from the profit of PKR 25.95 million in 2024.
Revenue increased by 15% from PKR 1,502.01 million to PKR 1,719.85 million.
⚠️ Gross profit decreased from PKR 482.35 million to PKR 340.37 million, reflecting higher cost of goods sold.
Expenses decreased from PKR (211.900) million to PKR (126.663) million.
💸 Operating loss of PKR (7.621) million compared to a profit of PKR 153.326 million in the previous year.
Import duties and macroeconomic headwinds negatively impacted profitability.
✨ Strategic interventions led to a significant revenue growth of 15%.
Retail, wholesale, and supermarket channels were expanded to boost sales.
In-store execution was improved, and targeted customer acquisition initiatives were implemented.
Procter & Gamble decided to discontinue its business in Pakistan as part of global restructuring.
SABV proposed to buy back shares from minority shareholders at PKR 216.49 per share.
Current assets decreased significantly from PKR 2,723.73 million to PKR 1,442.316 million.
Inventories saw a major decline from PKR 1,111.711 million to PKR 599.677 million.
Total liabilities and equity decreased from PKR 2,880.407 million to PKR 1,598.830 million.

🎯 Investment Thesis

I recommend a SELL rating for GLPL. While the revenue growth demonstrates the company’s ability to capture market share, the significant decline in profitability and the impending delisting make the stock unattractive. The buyback offer at PKR 216.49 per share represents a fair exit price for minority shareholders, given the circumstances. The time horizon for this recommendation is short-term, as the delisting process is expected to occur within the coming months.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 28, 2025

announcements LEUL Signal: SELL

📉 LEUL: SELL Signal (8/10) – Presentation for LEATHERUP LIMITED-Corporate-Briefing-Session

⚡ Flash Summary

Leather Up Limited (LEUL) reported a challenging FY2025 with a significant decline in financial performance. Revenue decreased sharply, leading to net losses compared to profits in the previous year. The company attributes the downturn to weakened export demand in Europe and increased input costs. Management is focused on cost control, market diversification, and securing new export orders to improve performance.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Revenue decreased significantly to Rs 12.09m in FY2025 from Rs 27.53m in FY2024.
❌ The company reported a Profit/(Loss) Before Tax of (Rs 4.32m) in FY2025, compared to a profit of Rs 0.57m in FY2024.
⛔ Profit/(Loss) After Tax was (Rs 4.51m) in FY2025, a substantial drop from Rs 0.32m in FY2024.
📉 EPS declined to (Rs 0.75) in FY2025 from Rs 0.05 in FY2024.
⚠️ Accumulated Loss increased to (Rs 48.98m) in FY2025.
🌍 Weakened export demand in Europe due to prevailing economic conditions drove the sales decline.
💸 Gross margin reduced due to increased cost of goods sold and competitive pricing pressures.
📈 Operating loss significantly increased to Rs 4.99m, compared to Rs 90.8k in the prior year.
💼 Current ratio improved to 3.63x compared to prior year (3.34x).
✔️ Net Working Capital is positive, supporting operations at Rs 14.13m.
🏦 Strong banking relationships with MCB, UBL, and Faysal Bank ensure access to necessary facilities.
🌍 Management is actively exploring new export markets to diversify revenue streams.
🛡️ Cost control measures and supplier negotiations are being implemented to manage input expenses.
📊 Proactive efforts led to securing export orders of Rs 22m in Q1 FY2026, signalling a potential positive shift.

🎯 Investment Thesis

Based on the significant decline in financial performance and increased accumulated loss, a SELL recommendation is warranted. The company faces several risks, and while management is implementing mitigation strategies, the overall outlook remains challenging. A price target would depend on a more detailed valuation analysis, but the current information suggests a negative outlook. I expect this downturn to extend into the medium term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 28, 2025

announcements JATM Signal: SELL

📉 JATM: SELL Signal (8/10) – Corporate Briefing Session 2025

⚡ Flash Summary

J. A. Textile Mills Limited’s corporate briefing for 2025 reveals a challenging financial landscape. The company experienced a significant surge in revenue, jumping from PKR 129.95 million in 2024 to PKR 1,430.99 million in 2025. Despite this impressive increase in sales, the company reported a gross loss of PKR 63.33 million. The company’s accumulated losses have further widened, reaching PKR 140.42 million, and the company also grapples with substantial current liabilities exceeding PKR 460 million. The report paints a picture of a company struggling to convert revenue into profitability, indicating potential operational inefficiencies or high costs of goods sold.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

⬆️ Revenue soared from PKR 129.95 million to PKR 1,430.99 million year-over-year.
📉 Gross loss reported at PKR 63.33 million, indicating cost challenges.
❌ Accumulated losses widened to PKR 140.42 million.
⚠️ Negative EPS of (3.3592) compared to (4.8274) last year.
💰 Total Comprehensive Income was PKR 193.62 million, influenced by revaluation surplus.
🏢 Total assets stand at PKR 1,251.56 million.
Liabilities (excluding equity) are PKR 606.28 million.
📉 Negative Pre-tax profit/(loss) to sales %: (57.68)
💸 Current liabilities at PKR 460.91 million.
📉 Fixed Assets (Cost/Revalued) increased to 842.13 million from 556.40 million
👎 Negative Earning after tax per share (Rs.): (4.7274)
🏦 Loan from related parties increased from 126.29 million to 160.79 million
📉 Negative Pre-tax profit/(loss) to capital %: (59.48)

🎯 Investment Thesis

Based on the analysis, a SELL recommendation is warranted. The company’s inability to generate profit despite increased revenue, coupled with rising losses and liquidity issues, presents significant downside risk. A price target significantly lower than the current paid up value of 10 per share is justified, until the company can demonstrate sustainable profitability and improved financial health. Given the current financials, a short-term horizon is recommended.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements Signal: SELL TSPL

📉 TSPL: SELL Signal (8/10) – Presentation for Corporate Briefing Session

⚡ Flash Summary

Tri-Star Power Limited (TSPL) is a Pakistan-based public limited company involved in electricity generation, distribution, and the leasing of power generating plants. The company’s plant has been given on rental to an associated concern. However, due to the stoppage of gas supply by SSGC, the plant cannot be used and as such rental could not be charged. The plant is old and requires high maintenance, and the company is looking for alternative/renewal energy sources requiring fresh investment.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🏭 TSPL’s primary activity is electricity generation, distribution, and power plant leasing.
📅 Incorporated in Pakistan on September 27, 1993.
🇵🇰 Shares are listed on the Pakistan Stock Exchange.
🏢 Registered office is in Karachi, Pakistan.
🛑 Plant rental operations are currently halted due to gas supply issues from SSGC.
⏳ The plant is old, requires high maintenance, and cannot be used due to gas stoppage.
🌱 TSPL is seeking alternative/renewal energy sources.
💼 As of June 30, 2025, the company’s paid-up capital remained constant at PKR 150,000,000.
📉 The company reported a net loss of PKR (10,317,806) for the year ended June 30, 2025.
🔻 Accumulated losses increased to PKR (49,279,528).
⬇️ Sales (lease rental) decreased to PKR 5,000,000 in 2025 from PKR 14,114,000 in 2021 and PKR 16,034,490 in 2020.
Current ratio decreased to 2.61 in 2025 from 3.41 in 2024
❌ The company did not declare any cash or bonus dividends in the last six years.

🎯 Investment Thesis

Given the continued losses, operational challenges, and increasing accumulated losses, a SELL recommendation is appropriate for TSPL. The absence of dividends and the declining financial performance makes it an unattractive investment. The need for fresh investment in alternative energy sources also adds uncertainty.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 26, 2025

announcements ASTL Signal: SELL

📉 ASTL: SELL Signal (8/10) – Corporate Briefing Session 2025 – Presentation

⚡ Flash Summary

Amreli Steels Limited (ASTL) reported a challenging financial year ending June 30, 2025. The company experienced a significant drop in rebar sales quantities, leading to a substantial net loss. Ongoing financial restructuring and unavailability of working capital lines were major contributing factors to the decline in sales volume. Despite macroeconomic indicators showing signs of improvement, ASTL’s overall financial performance remained weak, highlighted by negative EPS and a significant operating loss.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Sales decreased to PKR 16.08 billion, compared to PKR 38.78 billion in the previous year.
⛔ Gross profit significantly declined to PKR 76.01 million from PKR 2.40 billion.
😔 Operating loss widened to PKR 1.06 billion compared to an operating loss of PKR 130.79 million.
💔 Net loss reached PKR 3.81 billion, versus a net loss of PKR 6.11 billion last year, but still a significant loss.
📉 Loss per share (LPS) stood at PKR (12.83).
📉 Rebar sales quantities dropped by 59% to 71,602 MT from 156,526 MT.
🏭 Capacity utilization significantly decreased, contributing to elevated cost of sales.
💲 Average scrap costs decreased due to lower CNF prices and rupee appreciation, but overall cost of sales remained high.
⚡ Electricity tariffs declined from Rs. 45/kWh to Rs. 34.6/kWh, but the benefit was offset by fixed load charges.
💰 The company’s financial restructuring includes converting approximately PKR 11 billion of short-term facilities into long-term facilities.
💪 Planned injection of PKR 4 billion via equity and sale of non-core assets to strengthen working capital.
📈 Cement dispatches are up 12% YoY, indicating increased construction demand, which could benefit future sales.
💲 Steel scrap volumes increased by 56% YoY in 1QFY26, suggesting potential recovery in production.
🚫 FATA/PATA exemptions have been cut down, aligning with industry norms.

🎯 Investment Thesis

Given the company’s negative financial performance, ongoing restructuring, and significant risks, a SELL recommendation is warranted. While the financial restructuring plan aims to improve liquidity and reduce finance costs, the timeline for turnaround is uncertain. The price target is significantly below the current price, reflecting the challenging operating environment and weak financials.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 26, 2025

announcements DADX Signal: SELL

📉 DADX: SELL Signal (8/10) – Corporate Briefing Session – 2025 Presentation

⚡ Flash Summary

Dadex Eternit Limited’s Corporate Briefing Session for 2025 reveals a challenging financial year. The company experienced a significant decrease in sales revenue, dropping from Rs 1,348.496 million in 2024 to Rs 936.616 million in 2025. This decline contributed to a substantial net loss after tax of Rs 407.047 million, a deterioration from the loss of Rs 350.403 million in the previous year. The company’s strategic focus is on cost reduction and revenue enhancement plans, addressing raw material volatility and operational efficiency.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Sales revenue decreased from Rs 1,348.496 million in 2024 to Rs 936.616 million in 2025.
😔 Net loss after tax widened to Rs 407.047 million in 2025 from Rs 350.403 million in 2024.
📉 EPS declined to (Rs 37.82) in 2025 compared to (Rs 32.55) in 2024.
💰 Equity decreased from Rs 511.890 million in 2024 to Rs 434.804 million in 2025.
📉 Operating profit/loss showed a loss of Rs 259.677 million in 2025 compared to a loss of Rs 145.402 million in 2024.
📉 Gross Profit Margin Ratio decreased to (5.85%) in 2025 from 5.06% in 2024.
📉 Operating Profit Margins (EBIT) % decreased to (33.25%) in 2025 from (12.99%) in 2024.
📉 Return on Equity (Gross) % decreased to (93.62%) in 2025 from (68.45%) in 2024.
⚡ Electricity & Gas Tariff Pressures identified as a key challenge.
🚧 Construction Sector Slowdown impacting demand and inventory turnover.
📈 Continuous upward revisions in industrial tariffs affecting per-unit production cost.
💲 Efforts to renegotiate raw material and logistics contracts to reduce input costs.
🌱 Plans to expand market share through targeted sales in construction and infrastructure projects.
✨ Focus on diversifying into higher-margin segments such as industrial pressure pipes and telecom ducting.

🎯 Investment Thesis

Given the significant financial challenges and negative trends, a SELL recommendation is warranted. The company’s declining revenues, widening losses, and operational inefficiencies raise concerns about its ability to generate returns. Until Dadex demonstrates a clear turnaround strategy with tangible results, investment should be avoided. I believe that the firm’s cost and revenue enhancement plans may have a small impact, so I am only setting a 6 month time horizon.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 26, 2025

announcements ITTEFAQ Signal: SELL

📉 ITTEFAQ: SELL Signal (7/10) – CORPORATE BRIEF SESSION 2025

⚡ Flash Summary

ITTEFAQ Iron Industries Limited’s Investor Briefing Presentation for Financial Year 2025 reveals a challenging year. The company experienced a decline in net sales from 2,271.68 million in 2024 to 2,651.93 million in 2025. This led to a gross loss of (459.26) million and a net loss of (657.98) million with an EPS of (4.56). The company is focusing on cost reduction through direct procurement, energy conservation, and managing exchange rate risks.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Net sales increased to 2,651.93 million in 2025 from 2,271.68 million in 2024.
🚧 Cost of sales increased to (3,111.19) million in 2025 from (2,906.91) million in 2024.
💔 Gross profit decreased to (459.26) million in 2025 from (635.22) million in 2024.
💸 Operating loss increased to (594.06) million in 2025 from (806.76) million in 2024.
💰 Finance costs slightly increased to (88.56) million in 2025 from (88.01) million in 2024.
📉 Loss before taxation was (664.96) million in 2025 compared to (884.01) million in 2024.
📊 Loss after taxation was (657.98) million in 2025 compared to (821.69) million in 2024.
📉 EPS decreased to (4.56) in 2025 from (5.69) in 2024.
🏢 The company’s market portfolio includes retail, corporate, and government sectors.
🏭 G-60 re-bars are used by corporate and government sectors, while G-40 re-bars are used by retail sectors.
⚡️ Conservation and energy cost management are key areas of focus to improve margins.
💹 Exchange rate fluctuations and government policies continue to impact conversion costs.
💵 Government policies related to interest rates affect cost and net margin.
💻 Digital Analyst Connect Program for better connectivity and transparency.

🎯 Investment Thesis

Given the current financial performance and negative profitability, a SELL recommendation is appropriate. The company needs to demonstrate significant improvement in cost management and operational efficiency before a positive outlook can be considered. Price target: Below book value. Time horizon: Medium-term (1-2 years).

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 26, 2025

announcements Signal: SELL YOUW

📉 YOUW: SELL Signal (8/10) – Annual Corporate Briefing Session 2025

⚡ Flash Summary

Yousaf Weaving Mills Limited (YOUW) reported a challenging fiscal year ending June 30, 2025. The company faced significant headwinds including inflation, economic instability, and high energy prices which negatively impacted its operational performance. Sales revenue decreased substantially to Rs 528 million from Rs 640 million in 2024, and the company incurred a significant loss after tax of Rs (306.714) million. Management is implementing a BMR program to modernize machinery and improve efficiency, expecting this to enhance long-term profitability.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Sales revenue decreased from Rs 640 million in 2024 to Rs 528 million in 2025.
💔 Operating profit declined from a loss of Rs (38) million in 2024 to a loss of Rs (295) million in 2025.
⚠️ Net loss after tax widened significantly from Rs (49) million in 2024 to Rs (306.714) million in 2025.
💸 Loss per share deteriorated from Rs (0.39) in 2024 to Rs (2.26) in 2025.
📉 Return on equity plummeted from (10)% in 2024 to (113)% in 2025.
🏢 Equity increased from Rs 270 million to Rs 499 million.
🏭 Weaving and spinning production volume decreased as seen in the provided graph.
🧑‍💼 Number of employees decreased from 351 to 389.
🏦 Current ratio decreased to 0.31:1 in 2025 from 0.51:1 in 2024, indicating liquidity issues.
⚙️ Management is implementing a BMR program to enhance operational efficiency.
⚡ Exorbitant energy prices and economic instability are major challenges.

🎯 Investment Thesis

Based on the analysis, a SELL recommendation is warranted for YOUW. The company’s financial performance has deteriorated significantly, and faces numerous challenges that are unlikely to be resolved quickly. Without substantial improvements in operational efficiency and market conditions, YOUW’s stock price is likely to decline further. Therefore a SELL is appropriate until a turnaround is apparent.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 26, 2025

announcements KOSM Signal: SELL

📉 KOSM: SELL Signal (8/10) – Presentation For Annual Corporate Briefing Session for The Financial Year 2025

⚡ Flash Summary

Kohinoor Spinning Mills Limited (KSM) reported a challenging financial year ending June 30, 2025. The company experienced an operating loss of Rs 203 million, an increase from the Rs 171 million loss in the previous year. Correspondingly, the loss after tax deepened to Rs 494 million from Rs 375 million. This resulted in a loss per share of Rs 1.13, compared to Rs 0.91 in 2024, indicating a worsening financial performance.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

🚨 Increased Operating Loss: Operating loss increased from Rs 171 million in 2024 to Rs 203 million in 2025.
📉 Deeper Net Loss: Loss after tax widened from Rs 375 million to Rs 494 million.
📉 Loss Per Share (LPS): LPS deteriorated from Rs 0.91 to Rs 1.13.
📉 Equity Erosion: Equity decreased substantially from Rs 563 million to Rs 206 million.
📉 Declining Return on Equity: Return on Equity (ROE) decreased from 150% to 128%.
🏭 Operational Challenges: Pakistan’s spinning sector is facing challenges due to high energy costs and reduced consumer spending.
🌱 Diversification Efforts: The company is considering diversification to mitigate the unviable spinning sector conditions.
🧵 Yarn Trading: KSM has started purchasing and selling yarn, in line with its memorandum of association.
📜 Regulatory Compliance: Amendments to the Memorandum and Articles of Association have been approved to allow business diversification.
⚠️ Uncertain Outlook: The future for Pakistan’s spinning mills is uncertain due to declining local cotton production.
⚡️ High Energy Costs: High energy costs continue to pose a significant challenge to the company.
📊 Current Ratio: Current ratio worsened from 0.24 in 2024 to 0.16 in 2025, showing declining liquidity.

🎯 Investment Thesis

Given the sustained losses, declining equity, and challenging industry conditions, a SELL recommendation is warranted. The company faces significant operational and financial risks, with little prospect of near-term improvement. The negative outlook for the spinning sector in Pakistan, coupled with KSM’s weakened financial position, makes it an unattractive investment.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 26, 2025

announcements LPGL Signal: SELL

📉 LPGL: SELL Signal (8/10) – CORPORATE BRIEFING SESSION- 2025

⚡ Flash Summary

Leiner Pak Gelatine Limited’s corporate briefing session for 2025 reveals a significant downturn in financial performance. Sales have nearly halved from PKR 3,344.5 million in 2024 to PKR 1,628.61 million in 2025. This decline is primarily attributed to a substantial decrease in export sales. Consequently, the company’s profit after taxation has plummeted from PKR 81.519 million to PKR 15.822 million, with earnings per share (EPS) dropping from PKR 10.87 to PKR 2.11.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Sales declined by 51.3% from PKR 3,344.5 million to PKR 1,628.61 million.
📉 Export sales decreased significantly from PKR 2,294.946 million to PKR 928.311 million.
📉 Local sales also saw a decrease, falling from PKR 1,049.588 million to PKR 700.301 million.
⚠️ Cost of sales decreased from PKR 2,926.641 million to PKR 1,355.295 million.
⚠️ Gross profit declined from PKR 417.893 million to PKR 273.317 million.
⚠️ Profit before taxation decreased sharply from PKR 124.723 million to PKR 37.872 million.
⚠️ Profit after taxation dropped from PKR 81.519 million to PKR 15.822 million.
⚠️ Earnings per share (EPS) decreased from PKR 10.87 to PKR 2.11.
⚠️ Finance costs decreased from PKR 90.796 million to PKR 73.428 million.
⚠️ Actual sales for 2025 fell short of projected sales of PKR 2,300 million.
⚠️ Projected sales for 2026 are estimated at PKR 2,100 million.
🏭 Company produces HALAL Gelatine and Di-calcium phosphate.
🌍 Leiner Pak Gelatine was established in 1983.
⚖️ Company is listed on the Pakistan Stock Exchange.

🎯 Investment Thesis

Based on the significant decline in sales, profitability, and EPS, a SELL recommendation is warranted. The company faces substantial challenges in regaining its market position and restoring financial health. A price target should be set significantly lower to reflect the company’s poor performance and uncertain outlook. The time horizon for this recommendation is short to medium term, given the rapid deterioration in financial metrics.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 25, 2025

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