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SELL - FoxLogica

SELL

📉 DMTM: SELL Signal (8/10) – Financial Results for the Quarter Ended December 31,2023

⚡ Flash Summary

Dewan Mushtaq Textile Mills Limited reported a net loss after taxation of PKR 11.98 million for the half-year ended December 31, 2023, compared to a loss of PKR 30.12 million in the same period last year. The company experienced negative gross profit of PKR 15.48 million as compared to PKR 22.69 million. The company did not declare any cash dividend, bonus shares, or right shares. Auditors have expressed an adverse opinion on the company’s ability to continue as a going concern, citing closure of operations and default in repayment of restructured liabilities.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • ❌Net sales for the half-year ended December 31, 2023, were not disclosed, while cost of sales was PKR 15.48 million.
  • 📉Gross loss amounted to PKR 15.48 million for the half-year, compared to a gross loss of PKR 22.69 million for the same period last year.
  • ⚠️Operating loss decreased to PKR 19.97 million from PKR 27.82 million year-over-year.
  • 🚫Finance cost drastically reduced to PKR 3,584 from PKR 12.89 million year-over-year.
  • ⬆️Other income decreased to PKR 6.78 million from PKR 9.25 million year-over-year.
  • 📉Loss before taxation improved from PKR 31.46 million to PKR 13.20 million year-over-year.
  • ⬇️Taxation resulted in income of PKR 1.21 million as compared to tax expense of PKR 1.33 million year-over-year.
  • 📉Net loss after taxation reduced to PKR 11.98 million compared to PKR 30.12 million for the same period last year.
  • 📉Basic and diluted loss per share is PKR 1.04, compared to a loss per share of PKR 2.61 last year.
  • 🚫No cash dividend, bonus shares, or right shares were declared.
  • ⚠️Auditors have expressed an adverse opinion on the company’s going concern assumption.
  • 📉Accumulated losses increased to PKR 706.16 million as of December 31, 2023, from PKR 697.15 million as of June 30, 2023.
  • ⬇️Cash flow from operations resulted in outflow of PKR 58,458 as compared to inflow of PKR 1.49 million.

🎯 Investment Thesis

Based on the reported financial results, the adverse audit opinion regarding the company’s ability to continue as a going concern, and the absence of revenue data, a SELL recommendation is warranted. There are no dividend payments. The price target should be significantly lower than the current levels (if available) given the risk of liquidation. The time horizon is short-term, as the company’s future viability is uncertain.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 15, 2025

📉 TPLP: 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 October 6, 2025, TPL Corp Limited, a substantial shareholder of TPL Properties Limited, executed a sale of 377,840 shares at a rate of PKR 11.12 per share. This transaction was conducted in the ready market through CDS certificates. Following the sale, TPL Corp Limited’s cumulative shareholding in TPL Properties Limited stands at 196,757,162 shares, representing 35.07% of the company.

Signal: SELL 📉
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 📉 TPL Corp Limited sold 377,840 shares of TPL Properties Limited.
  • 🗓️ The transaction occurred on October 6, 2025.
  • 💰 The sale price was PKR 11.12 per share.
  • 🏢 The transaction was executed by TPL Corp Limited.
  • 📊 The sale took place in the ready market through CDS certificates.
  • 📉 Following the sale, cumulative shareholding is 196,757,162 shares.
  • ⚖️ The remaining shareholding represents 35.07% of the company.
  • 📜 The disclosure is under PSX Regulations 5.6.4.
  • 📣 The transaction will be presented in a subsequent Board meeting.
  • ⚠️ Non-compliance issues, if any, will be highlighted.
  • ✔️ The Exchange confirms the details of the transaction.
  • 🏢 Shayan Mufti, Company Secretary, signed the announcement.

🎯 Investment Thesis

Given the sale of shares by a substantial shareholder and the potential downward pressure on the stock, a SELL recommendation is warranted. While TPL Properties Limited has potential, the immediate impact of this transaction presents risks. Price Target: PKR 9.00. Time Horizon: SHORT_TERM

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 15, 2025

📉 SGPL: SELL Signal (8/10) – Transmission of Annual Report for the Year Ended 30 June 2025

⚡ Flash Summary

SG Power Limited’s 2025 annual report reveals a tumultuous year with significant financial challenges. Sales plummeted from PKR 17.30 million to PKR 6.15 million, resulting in a loss of PKR 8.40 million compared to a profit of PKR 1.67 million the previous year. The company’s accumulated losses have ballooned to PKR 266.78 million, raising concerns about its ability to continue as a going concern. Despite these challenges, management is exploring alternative energy sources and has received financial support commitments from directors and associated companies.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 📉 Sales decreased significantly from PKR 17.30 million in 2024 to PKR 6.15 million in 2025.
  • ⛔ Company reported a net loss of PKR 8.40 million in 2025, a stark contrast to the PKR 1.67 million profit in 2024.
  • ⚠️ Accumulated losses increased to PKR 266.78 million, raising concerns about long-term viability.
  • ⛽ Generation costs decreased to PKR 7.93 million but are still a major burden.
  • ⬆️ Administrative and selling expenses rose dramatically to PKR 6.62 million.
  • 💸 Loss per share is PKR -0.47.
  • 😬 Auditors express material uncertainty related to the company’s ability to continue as a going concern.
  • 🤝 Crescent Star Insurance Limited acquired a 38.05% stake in SG Power post-year-end for PKR 6 per share.
  • 🚫 The company has negative cash flow from operations of PKR (1,319,265).
  • ✔️ Management is exploring alternative energy sources, such as solar, to mitigate costs.
  • 🧾 There were instances of non-compliance with the code of corporate governance.
  • 🏛️ The Board of Directors decided to forgo fees to improve company financial state.
  • 🏦 There is director loan of PKR 1,913,262.

🎯 Investment Thesis

Given the significant financial challenges, a SELL recommendation is appropriate. The company’s going concern status is under question, and the substantial accumulated losses indicate a high degree of financial distress. The recent acquisition by Crescent Star Insurance does provide some liquidity, but it is only for the shares sold to them. The negative outlook for the near-term future makes investment in SG Power Limited highly speculative and risky.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 15, 2025

📉 PSEL: 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 October 14, 2025, Mr. Dawood Jan Muhammad, a substantial shareholder of Pakistan Services Limited (PSEL), sold 9,107,800 shares on the NDM at a rate of PKR 710 per share. This transaction resulted in a 0% cumulative shareholding post-transaction. The disclosure was made under PSX Regulation 5.6.4, which mandates the reporting of shareholding changes by directors, CEOs, executives, substantial shareholders, and their spouses and minors. The company has confirmed that this transaction will be presented at the next Board of Directors meeting, highlighting any non-compliance issues.

Signal: SELL 📉
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 🚨 Substantial shareholder Mr. Dawood Jan Muhammad sold a significant number of shares.
  • 📉 9,107,800 shares were sold by Mr. Muhammad.
  • 💰 The sale price was PKR 710 per share.
  • 📅 The transaction occurred on October 13, 2025.
  • 🏢 The sale was executed on the NDM (presumably National Depository Market).
  • 📄 The disclosure is under PSX Regulation 5.6.4.
  • 💼 Mr. Dawood Jan Muhammad is described as a ‘Substantial Shareholder’.
  • 📊 Post-transaction, the cumulative shareholding is reported as 0%.
  • 🗣️ The transaction will be discussed in the next Board of Directors meeting.
  • ✅ The company confirmed compliance with PSX regulations.
  • ✉️ The disclosure was communicated to the Pakistan Stock Exchange.
  • 🏢 Pakistan Services Limited is the reporting entity.
  • 📝 The form used for disclosure is Form-29.

🎯 Investment Thesis

Based on the information provided, a SELL recommendation is warranted. The complete exit of a substantial shareholder raises significant concerns about the company’s future performance and investor confidence. A price target would be highly speculative without additional fundamental analysis, but the near-term outlook appears negative. Time horizon: Short term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 15, 2025

📉 TPLP: 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

TPL Corp Limited, a substantial shareholder of TPL Properties Limited, sold 500,000 shares on July 10, 2025, at a rate of Rs. 10.89 per share. The shares were in the form of CDS (Central Depository System) and traded in the ready market. Following this transaction, TPL Corp Limited’s cumulative shareholding stands at 196,257,162 shares, representing 34.98% of the company. This transaction will be presented at the subsequent Board meeting for review and compliance under PSX regulations.

Signal: SELL 📉
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📉 TPL Corp Limited sold 500,000 shares of TPL Properties Limited.
  • 🗓️ The transaction occurred on October 7, 2025.
  • 💰 The sale price was Rs. 10.89 per share.
  • 💽 Shares were in CDS form.
  • ✔️ The transaction occurred in the ready market.
  • 📊 Post-transaction, TPL Corp holds 196,257,162 shares.
  • ⚖️ This represents 34.98% of total shareholding.
  • 📢 The transaction will be presented in the upcoming Board meeting.
  • 📜 This includes a review for compliance with PSX regulations (clause 5.6.4).
  • 🏢 Shayan Mufti, Company Secretary, confirmed the transaction.
  • 🏢 TPL Properties Ltd. is located in Karachi, Pakistan.
  • 🌐 More information available at www.tplproperty.com.

🎯 Investment Thesis

SELL, given the substantial shareholder’s decision to reduce their stake. This could signal a lack of confidence in the company’s future performance or an alternative investment opportunity for TPL Corp Limited. Increased selling pressure may result from this transaction. Price target: Rs. 9.50, Time horizon: 6 months.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 15, 2025

📉 AHL: SELL Signal (8/10) – Publication of Withdrawal of Public Announcement of Intention to acquire 84.06% of the ordinary shares of Attock Cement Pakistan Limited

⚡ Flash Summary

Arif Habib Limited, acting as the Manager to the Offer, announced the withdrawal of the Public Announcement of Intention (PAI) by Alpha Cement Company Limited to acquire 84.06% of the ordinary shares of Attock Cement Pakistan Limited. The initial announcement for the potential acquisition was made on June 3rd, 2025, but the acquirer has now decided not to proceed with the transaction. This withdrawal is in compliance with Regulation 21(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The notification of the withdrawal has been published in Business Recorder and Nawa-i-Waqt.

Signal: SELL 📉
Strength: 8/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • ❌ Alpha Cement withdraws intention to acquire 84.06% of Attock Cement.
  • 📅 Initial PAI was announced on June 3rd, 2025.
  • 🏢 Arif Habib Limited acted as the Manager to the Offer.
  • 📜 Withdrawal complies with Regulation 21(1) of takeover regulations.
  • 📰 Withdrawal notice published in Business Recorder and Nawa-i-Waqt.
  • 📉 Attock Cement’s share price likely to experience downward pressure.
  • 🤝 Potential acquisition uncertainty removed.
  • 🔍 No specific reason provided for the withdrawal.
  • 💼 Arif Habib fulfilled regulatory requirements for withdrawal.
  • 🚫 No immediate change in Attock Cement’s operations.
  • ❓ Future acquisition attempts remain uncertain.

🎯 Investment Thesis

SELL. The withdrawal of the acquisition offer removes a key catalyst for Attock Cement’s share price appreciation. Without the acquisition premium, the company’s valuation is likely to revert to its standalone financial metrics. Given the potential for downward price adjustment, a SELL recommendation is appropriate. Price Target: Based on a conservative estimate of peer valuations, a price target reflecting a 10-15% discount from the pre-announcement price is reasonable. Time Horizon: Short-term (1-3 months) to capture the price adjustment.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 10, 2025

📉 AKGL: SELL Signal (7/10) – Transmission of Annual Report for the Year Ended 2025-06-30

⚡ Flash Summary

Al-Khair Gadoon Limited’s 2025 annual report shows a marginal increase in revenue but a significant decline in profitability. Revenue increased by 9.43% to PKR 1.399 billion, while profit after taxation decreased by 37.1% to PKR 17.145 million. The decline in profitability is attributed to a volatile economic environment, geopolitical tensions, and increasing inflation, which affected overall profit margins. The company’s balance sheet shows an increase in total assets, primarily driven by an increase in short-term borrowings, to address challenges and ensure sustainable growth, the company remains focused on improving operational efficiencies and cost control.

Signal: SELL 📉
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📈 Revenue increased by 9.43% to PKR 1.399 billion from PKR 1.278 billion in 2024.
  • 📉 Profit after taxation decreased by 37.1% to PKR 17.145 million from PKR 27.253 million in 2024.
  • ⚠️ EPS decreased significantly to PKR 1.71 from PKR 2.73 in 2024.
  • 📉 Profit before tax declined by 23.5% to PKR 30.737 million.
  • 📉 Gross profit margin decreased from 12.97% to 12.41%.
  • ⬆️ Total assets increased by 17.3% to PKR 799.489 million from PKR 681.490 million.
  • 💰 Short term borrowings increased substantially to PKR 367.148 million from PKR 261.007 million.
  • 🚫 No dividend was declared for the year ended June 30, 2025.
  • 🗓️ The Annual General Meeting will be held on October 24, 2025.
  • 💼 Majority of the directors are exempted from the requirement of Directors’ Training Program.
  • ⚠️ The company acknowledges challenges from rising inflation, intense competition, and geopolitical events.
  • ✅ The company aims for sustainable growth through operational efficiencies and cost control.
  • 🌱 The company emphasizes social responsibility and safe working conditions.
  • 🌐 The company is exposed to currency risk due to reliance on imported raw materials.
  • 👥 Major shareholders: Mr. Mohammad Afzal Sheikh is Chairman/Director who holds 29.845% of shares, which is a positive sign.

🎯 Investment Thesis

Given the significant decrease in profitability, increase in debt, and economic uncertainty, a SELL recommendation is warranted. The financial metrics indicate deteriorating performance, and the company faces numerous external risks. Current shareholders may want to consider offloading shares, while new investors should avoid this stock. The market sentiment will likely be negative on this announcement.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 10, 2025

📉 BGL: SELL Signal (7/10) – Corporate Briefing Session 2025

⚡ Flash Summary

Baluchistan Glass Limited (BGL) held a corporate briefing session on October 15, 2025, discussing their financial performance for the year ended June 30, 2025. The company’s Unit-I in Hub, Baluchistan, resumed production in June 2024 but faced technical disruptions. BGL successfully completed a financial restructuring by issuing 376,912,057 new shares to MMM Holding (Private) Limited, increasing the paid-up capital to Rs. 6.385 billion and MMM’s holding to 93.59%.

Signal: SELL 📉
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 🏭 Baluchistan Glass Limited incorporated in Pakistan in 1980.
  • 📍 Operates three manufacturing units in Hub, Sheikhupura, and Lahore.
  • 📈 Unit-I resumed production in June 2024 but was disrupted.
  • 🔄 Financial restructuring completed by issuing new shares.
  • 💰 Paid-up capital increased to Rs. 6.385 billion.
  • 🤝 MMM Holding now owns 93.59% of the company.
  • 📉 Non-Current Assets decreased by 6.2% to Rs. 3,337,221 thousands.
  • 📉 Current Assets decreased significantly by 34.61% to Rs. 568,068 thousands.
  • 📈 Non-Current Liabilities increased substantially by 241.1% to Rs. 647,256 thousands.
  • 📉 Current Liabilities decreased by 10.72% to Rs. 2,209,355 thousands.
  • 📉 Shareholders’ Equity decreased by 40.49% to Rs. 1,048,478 thousands.
  • 📈 Sales increased significantly by 344.91% to Rs. 717,833 thousands.
  • 📉 Gross Loss increased by 61.78% to (Rs. 463,789) thousands.
  • 📉 Operating Loss increased by 41.92% to (Rs. 456,365) thousands.
  • ⚠️ Loss for the Year increased by 40.25% to (Rs. 713,459) thousands.

🎯 Investment Thesis

Given the negative profitability trends, high debt, and operational challenges, a SELL recommendation is warranted. The company’s financial restructuring may provide some short-term relief, but the underlying issues of profitability and efficiency remain unaddressed. The stock is overvalued based on its financial performance.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 10, 2025

📉 TPLP: 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 October 9, 2025, TPL Properties Limited (TPLP) disclosed a transaction by a Director, Muhammad Ali Jameel. The director sold 1,834,363 shares on February 10, 2025, at a rate of PKR 11.88 per share, executed through CDS and readily available in the market. Following this transaction, the director’s cumulative shareholding stands at 47,340,651 shares, representing 8.44% of the company. This information will be presented at the subsequent board meeting for consideration and compliance review.

Signal: SELL 📉
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • 📢 Director Muhammad Ali Jameel sold 1,834,363 shares of TPL Properties Limited (TPLP).
  • 📅 The transaction occurred on February 10, 2025.
  • 💰 The shares were sold at a rate of PKR 11.88 per share.
  • 🏛️ The transaction was executed through the Central Depository System (CDS).
  • 📊 After the sale, the director’s cumulative shareholding is 47,340,651 shares.
  • 📉 The director’s cumulative shareholding now represents 8.44% of the company.
  • 📑 The disclosed information adheres to PSX Regulations u/c 5.6.4.
  • ✅ The transaction will be presented at the next board meeting for review.
  • 🏢 TPL Properties Limited is the company involved in this disclosure.
  • 🗓️ The disclosure was made on October 9, 2025.
  • 📍 TPL Properties Ltd. is located in Karachi, Pakistan.
  • 💼 Shayan Mufti is the Company Secretary who signed the disclosure.
  • ❗ The announcement pertains to the disclosure of interest by a Director.
  • 🚦The shares were readily available in the market.
  • 🤔 The implications of this sale on investor confidence should be monitored.

🎯 Investment Thesis

Based on the director’s sale of shares, a SELL recommendation is warranted. While the director’s remaining stake is still substantial, the sale indicates a potential lack of confidence or shift in investment strategy. A price target of PKR 10.50 is set, based on potential downward pressure following the disclosure. The time horizon is short-term (3-6 months) as the market absorbs the news and potentially corrects.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 9, 2025

📉 AHL: SELL Signal (7/10) – Withdrawal of Public Announcement of Intention to acquire 84.06% of the ordinary shares of Attock Cement Pakistan Limited

⚡ Flash Summary

Arif Habib Limited announced the withdrawal of the Public Announcement of Intention (PAI) by Alpha Cement Company Limited to acquire 84.06% of the ordinary shares of Attock Cement Pakistan Limited. The initial PAI was made on June 3rd, 2025, and published in Business Recorder and Nawa-i-Waqt on June 5th, 2025. The acquirer decided not to pursue the proposed acquisition as required under Regulation 21(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The withdrawal announcement will be published in Business Recorder and Nawa-i-Waqt on October 10, 2025.

Signal: SELL 📉
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • ❌ Alpha Cement Company withdraws intention to acquire 84.06% of Attock Cement.
  • 📅 Initial Public Announcement of Intention (PAI) was made on June 3rd, 2025.
  • 📰 PAI was published in Business Recorder and Nawa-i-Waqt on June 5th, 2025.
  • 🚫 Acquirer decided not to proceed with the proposed acquisition.
  • 📜 Withdrawal is under Regulation 21(1) of takeover regulations, 2017.
  • 💼 Arif Habib Limited is the manager to the offer on behalf of the acquirers.
  • 📢 Withdrawal announcement will be published on October 10, 2025.
  • 📄 Compliance with the law is the reason for the withdrawal process.
  • ❓ Contact Arif Habib Limited for additional information or clarification.
  • 📉 Uncertainty regarding Attock Cement’s future ownership.
  • 🏢 Target Company: Attock Cement Pakistan Limited.
  • cement Sector growth will be affected negatively.

🎯 Investment Thesis

Given the withdrawal of the acquisition offer and the resulting uncertainty, a SELL recommendation is appropriate. The stock price is likely to correct downwards as the acquisition premium disappears. We expect a price target reflecting the standalone valuation of Attock Cement, with a short-term horizon to account for immediate market reaction.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 9, 2025

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