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SELL - FoxLogica

πŸ“‰ ICCI: SELL Signal (8/10) – Financial Results for the Year Ended June 30, 2025

⚑ Flash Summary

ICC Industries Limited reported financial results for the year ended June 30, 2025. The company experienced a decrease in revenue compared to the previous year, along with a significant loss after taxation. Despite an actuarial gain on employee benefit obligations, the total comprehensive loss for the year was substantial. The Board of Directors has recommended a Nil dividend for the fiscal year 2025.

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

πŸ“Œ Key Takeaways

  • πŸ“‰ Revenue decreased from 52,974,017 Rupees in 2024 to 50,148,461 Rupees in 2025, indicating a decline in sales.
  • ❌ Gross profit decreased from 32,884,970 Rupees in 2024 to 30,057,630 Rupees in 2025.
  • πŸ“‰ Operating loss widened from (5,334,841) Rupees in 2024 to (10,076,609) Rupees in 2025, highlighting operational challenges.
  • ⚠️ Loss before taxation significantly increased from (464,487) Rupees in 2024 to (5,957,384) Rupees in 2025.
  • πŸ“‰ Loss after taxation increased from (11,648,023) Rupees in 2024 to (16,538,392) Rupees in 2025, showcasing deteriorating profitability.
  • βœ… Actuarial gain on employee benefit obligations decreased substantially from 4,185,057 Rupees in 2024 to 407,510 Rupees in 2025.
  • πŸ“‰ Total comprehensive loss for the year widened from (7,462,966) Rupees in 2024 to (16,130,882) Rupees in 2025.
  • ❌ Loss per share (basic and diluted) increased from (0.39) Rupees in 2024 to (0.55) Rupees in 2025.
  • πŸ’° Nil dividend was recommended for the year ended June 30, 2025.
  • πŸ“‰ Trade debts decreased significantly from 4,884,890 Rupees to 566,166 Rupees.

🎯 Investment Thesis

Given the declining revenue, increasing losses, and negative trends in key financial metrics, a SELL recommendation is warranted. The company’s financial performance indicates significant challenges that need to be addressed. The nil dividend further reduces the attractiveness of the stock. The investment thesis is based on the deteriorating financial health of the company and the absence of positive catalysts.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

πŸ“‰ LEUL: SELL Signal (8/10) – Financial Results for the Year Ended 30-06-2025

⚑ Flash Summary

Leather Up Limited reported a challenging financial year ending June 30, 2025. The company experienced a significant decrease in sales revenue, leading to a substantial net loss. The statement of financial position shows a decrease in total assets and total equity and liabilities. The negative profit per share raises concerns about the company’s profitability.

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

πŸ“Œ Key Takeaways

  • πŸ“‰ Sales revenue decreased by 56.1% from Rs 27,525,256 in 2024 to Rs 12,086,203 in 2025.
  • πŸ’” Gross profit turned into a gross loss of Rs 1,199,957 in 2025 compared to a profit of Rs 6,276,599 in 2024.
  • 😟 Operating loss significantly increased to Rs 4,987,519 in 2025 from Rs 90,821 in 2024.
  • β›” Loss before taxation was Rs 4,508,641 in 2025, compared to a profit of Rs 321,682 in 2024.
  • ❌ Loss after taxation was Rs 4,508,641 in 2025, a sharp decline from a profit of Rs 321,682 in 2024.
  • πŸ“‰ Loss per share was Rs 0.75 in 2025, compared to earnings per share of Rs 0.05 in 2024.
  • πŸ“‰ Total assets decreased from Rs 28,465,209 in 2024 to Rs 21,930,590 in 2025.
  • πŸ“‰ Stock-in-trade decreased significantly from Rs 17,840,117 in 2024 to Rs 10,342,437 in 2025.
  • ⬆️ Actuarial gain on defined benefit increased slightly to Rs 123,662 in 2025 from Rs 144,599 in 2024.
  • ⬇️ Accumulated losses increased from Rs 44,468,647 in 2024 to Rs 48,977,289 in 2025.
  • ⬇️ Total equity and liabilities decreased from Rs 28,465,209 in 2024 to Rs 21,930,590 in 2025.
  • πŸ’Έ Net cash used in operating activities was Rs 561,350 in 2025, compared to cash generated of Rs 1,427,613 in 2024.
  • Loan from directors decreased from Rs 88,600 to Rs 33,600.
  • Trade and other payables decreased from Rs 6,022,104 to Rs 3,704,737.

🎯 Investment Thesis

Based on the analysis, a SELL recommendation is appropriate for Leather Up Limited. The company’s poor financial performance, negative profitability, and declining assets raise significant concerns about its ability to generate returns for investors. A price target of Rs 2.00 is set, based on the current distressed financial state and potential for further decline. This recommendation has a short-term time horizon of 6 months, reflecting the urgency of addressing the company’s financial issues.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

πŸ“‰ LEUL: SELL Signal (9/10) – Transmission of Annual Report for the Year Ended 30-06-2025

⚑ Flash Summary

Leather Up Ltd. reported a significant downturn in its financial performance for the fiscal year ended June 30, 2025. The company experienced a substantial decrease in sales revenue and a shift from profit to loss compared to the previous year. Key performance indicators such as earnings per share (EPS) deteriorated significantly, and operating losses widened. The company attributes this decline to challenges in export markets, particularly in Europe, and the adverse impact of high inflation. Management expresses concerns about going concern status, signaling substantial uncertainty.

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

πŸ“Œ Key Takeaways

  • πŸ“‰ Sales plummeted to Rs 12.09 million in 2025 from Rs 27.53 million in 2024.
  • πŸ™ The company incurred a loss before taxation of Rs 4.32 million in 2025 compared to a profit of Rs 0.57 million in 2024.
  • ⚠️ EPS nosedived to a loss of Rs 0.75 per share in 2025 from a profit of Rs 0.05 per share in 2024.
  • 🚫 No dividend was announced due to the losses incurred.
  • 🌍 Management attributes the decline to recession in Europe and high inflation.
  • βœ‚οΈ Efforts are being made to cut operating expenses to withstand the lean period.
  • βœ… Export orders worth Rs 22 million have been secured in the first quarter of 2026, a positive signal.
  • 🀝 One executive director has agreed to forgo remuneration to support the company.
  • πŸ—“οΈ Share transfer books will be closed from October 21 to October 28, 2025.
  • βœ‰οΈ Members can participate in the Annual General Meeting through video link facility.
  • 🎁 No gifts will be distributed during the Annual General Meeting.
  • 🌐 Financial statements are available on the company’s website.

🎯 Investment Thesis

Given the significant deterioration in financial performance, high risks, and going concern uncertainty, a SELL recommendation is warranted. The negative trends in revenue, profitability, and EPS, coupled with the challenging economic environment, make the investment unattractive. A price target cannot be established due to the lack of profitability and high uncertainty.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

πŸ“‰ GLPL: SELL Signal (8/10) – Transmission of Annual Report for the Year Ended

⚑ Flash Summary

Gillette Pakistan Limited (GLPL) reported challenging financials for the year ended June 30, 2025. Revenue increased by 15% year-over-year, but the company experienced a net loss of PKR 25.95 million compared to a profit of PKR 101.94 million in the prior year. This decline in profitability was attributed to macroeconomic headwinds and increased import duties, impacting cost structures and consumer spending. The Board has decided not to pay a dividend for the year.

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

πŸ“Œ Key Takeaways

  • πŸ“‰ Revenue increased by 15% to PKR 1,719.85 million from PKR 1,502.01 million.
  • ⚠️ Company reported a net loss of PKR 25.95 million compared to a profit of PKR 101.94 million in the previous year.
  • β›” No dividend was declared for the year ended June 30, 2025.
  • 😬 Gross Profit margin decreased significantly to 20% from 33%.
  • πŸ“‰ Earnings per share (EPS) turned negative at (PKR 0.81) compared to positive PKR 3.18 in the previous year.
  • πŸ”Ί Selling, Marketing and Distribution expenses saw massive reduction.
  • βœ”οΈ Management states revenue growth was driven by expansion in retail, wholesale, and supermarket channels.
  • βœ”οΈ Company focused on driving revenue growth in disposables & double edge categories.
  • βœ”οΈ Company acknowledges challenges of rising global commodity prices.
  • βœ”οΈ Company express appreciation for shareholder confidence, supplier support and customer reliance.

🎯 Investment Thesis

Given the significant drop in profitability, negative EPS, and decision to withhold dividends, a SELL recommendation is warranted. The macroeconomic challenges and increasing costs present substantial headwinds. A turnaround strategy and significant improvements in cost management are needed before a more positive outlook can be considered.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 6, 2025

πŸ“‰ FTSM: SELL Signal (8/10) – Financial Results for the Year Ended 2025-06-30

⚑ Flash Summary

First Tri-Star Modaraba reported a loss for the year ended June 30, 2025, contrasting with a profit in the previous year. The company experienced a significant decrease in operating profit and a substantial loss after taxation, primarily driven by increased administrative expenses and financial charges. Despite a rise in income from academic activities, the company’s profitability suffered. The balance sheet shows a slight increase in total assets, but a decrease in certificate holders’ equity due to the current year’s loss.

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

πŸ“Œ Key Takeaways

  • πŸ“‰ First Tri-Star Modaraba reported a loss of PKR 15.03 million for the year ended June 30, 2025, compared to a profit of PKR 1.66 million in 2024.
  • πŸ“‰ Loss per certificate (basic and diluted) stood at PKR (0.71) in 2025, against earnings of PKR 0.08 in 2024.
  • ⬆️ Income from academic activities increased to PKR 36.18 million in 2025 from PKR 34.83 million in 2024, a 3.9% rise.
  • ⬆️ Administrative expenses surged to PKR 56.78 million in 2025 from PKR 33.07 million in 2024.
  • ⬆️ Financial charges increased to PKR 2.11 million in 2025 from PKR 1.91 million in 2024.
  • ⬇️ Operating loss amounted to PKR 13.61 million in 2025, compared to an operating profit of PKR 0.58 million in 2024.
  • ⬆️ Other comprehensive income increased substantially to PKR 53.97 million in 2025 from PKR 38.42 million in 2024.
  • ⬆️ Total assets increased to PKR 586.60 million in 2025 from PKR 565.31 million in 2024.
  • ⬇️ Certificate holders’ equity decreased to PKR 353.38 million in 2025 from PKR 410.73 million in 2024.
  • ⬆️ Surplus on revaluation of investments increased to PKR 89.04 million in 2025 from PKR 35.07 million in 2024.
  • ⬆️ Short-term investments increased to PKR 0.49 million in 2025 from PKR 0.39 million in 2024.
  • ⬆️ Cash and bank balances increased to PKR 2.99 million in 2025 from PKR 1.61 million in 2024.
  • ⬆️ Accrued and other liabilities increased to PKR 43.01 million in 2025 from PKR 29.51 million in 2024.

🎯 Investment Thesis

Given the loss reported, the rising administrative costs, and the overall negative trajectory, a SELL recommendation is warranted. The company’s financial performance raises significant concerns about its ability to generate sustainable profits. While the increase in assets looks good, liability is a real concern. In the absence of a clear turnaround strategy and considering the limited information about the Modaraba’s operations and sector, the downside risk outweighs any potential upside. I’d avoid the stock with a target price of PKR 7 which will be book value, which is unlikely to be achieved in the short term, considering the current financials and a time horizon of 6-12 months.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 6, 2025

πŸ“‰ YOUW: SELL Signal (8/10) – Financial Results for the Year Ended June 30, 2025

⚑ Flash Summary

Yousaf Weaving Mills Limited (YOUW) reported a net loss of PKR 306.71 million for the year ended June 30, 2025, a significant increase from the PKR 49.21 million loss in the previous year. Sales increased to PKR 639.74 million from PKR 527.64 million. However, the company’s cost of sales surged to PKR 894.21 million, resulting in a gross loss of PKR 254.47 million. The substantial increase in losses raises concerns about the company’s operational efficiency and financial stability.

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

πŸ“Œ Key Takeaways

  • 🚨 YOUW’s net loss dramatically increased to PKR 306.71 million in 2025 from PKR 49.21 million in 2024.
  • πŸ“ˆ Sales saw an increase, reaching PKR 639.74 million in 2025 compared to PKR 527.64 million in 2024.
  • πŸ“‰ Cost of sales spiked to PKR 894.21 million, leading to a gross loss of PKR 254.47 million.
  • ⚠️ Operating loss widened to PKR 294.73 million from PKR 38.03 million.
  • πŸ’Έ Loss per share ballooned to PKR (2.26) from PKR (0.39).
  • πŸ’° Net cash used in operating activities was PKR 28.73 million compared to cash generated of PKR -8.69 million in 2024.
  • 🏦 Short-term borrowings decreased significantly to PKR 517.92 million from PKR 611.65 million.
  • πŸ“Š The company’s accumulated loss increased to PKR 1.85 billion.
  • ❌ Total comprehensive loss for the year was PKR 310.12 million, a stark contrast to the income of PKR 197.72 million in the previous year.
  • πŸ“‰ Negative experience adjustment on remeasurement of staff retirement of PKR -3.41 million.
  • πŸ’΅ Loan from directors increased significantly to PKR 81.96 million vs PKR 34.18 million in 2024.

🎯 Investment Thesis

Based on the significant losses, deteriorating profitability, and weak financial position, a SELL recommendation is warranted for Yousaf Weaving Mills. The increasing losses and negative cash flow raise serious concerns about the company’s ability to sustain operations. A price target cannot be provided due to the fundamental issues, but it is likely to be substantially lower than the current market price. Time horizon: Short-term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 6, 2025

πŸ“‰ NCML: SELL Signal (8/10) – FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30, 2025

⚑ Flash Summary

Nazir Cotton Mills Limited reported its financial results for the year ended June 30, 2025. The company experienced a net loss of PKR 7.23 million, a considerable downturn compared to the PKR 15.99 million loss in the previous year. Despite a significant increase in other operating income, the absence of sales revenue and substantial other expenses contributed to the negative bottom line. The company did not declare any cash or bonus dividends for the year.

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

πŸ“Œ Key Takeaways

  • πŸ“‰ **Revenue:** Zero revenue reported for the year ended June 30, 2025, compared to PKR 7.53 million in the prior year.
  • ❌ **Gross Loss:** Company reports a gross loss for 2025, compared to the prior year’s gross loss of PKR 5.66 million.
  • ⬆️ **Other Operating Income:** Increased significantly to PKR 65.35 million from PKR 9.24 million year-over-year.
  • ⬆️ **Administrative Expenses:** Rose to PKR 20.96 million from PKR 15.63 million in the previous year.
  • ⬆️ **Other Expenses:** Increased drastically to PKR 33.52 million from PKR 3.80 million year-over-year.
  • ⬆️ **Finance Costs:** Rose to PKR 2.85 million from PKR 0.004 million in the previous year.
  • πŸ“‰ **Net Loss:** Company recorded a net loss of PKR 7.23 million, an improvement from PKR 15.99 million in the previous year.
  • ⚠️ **No Dividends:** No cash or bonus dividends were declared for the year ended June 30, 2025.
  • πŸ“‰ **Loss Per Share:** Loss per share improved to (PKR 0.31) from (PKR 0.70) in the prior year.
  • ⬇️ **Total Equity:** Decreased to PKR 137.37 million from PKR 139.06 million year-over-year.
  • ⬇️ **Cash and Bank Balances:** Declined to PKR 0.29 million from PKR 10.38 million from the prior year.
  • ⬆️ **Short-term Borrowings:** Decreased to PKR 131.14 million from PKR 207.87 million from the prior year.
  • ⬇️ **Total Assets:** Decreased to PKR 289.43 million from PKR 354.27 million year-over-year.
  • ⚠️ **AGM Date:** The Annual General Meeting will be held on October 28, 2025.

🎯 Investment Thesis

Given the zero revenue, continued net losses, and weak financial position, a SELL recommendation is warranted. The company’s lack of revenue generation and substantial expenses raise serious doubts about its ability to continue as a going concern. Without a clear turnaround strategy and evidence of revenue recovery, the stock is unlikely to generate positive returns. Price target is a speculative PKR 1.00, based on potential liquidation value, with a short-term horizon (6 months).

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 6, 2025

πŸ“‰ GUTM: SELL Signal (8/10) – Financial Results For The Year Ended 300-06-2025

⚑ Flash Summary

Gulistan Textile Mills reported a significant loss after taxation of PKR 51.67 million for the year ended June 30, 2025, a stark contrast to the profit of PKR 735.26 million in the previous year. This translates to a negative earnings per share (EPS) of PKR 2.72 compared to a positive EPS of PKR 38.73 in 2024. The company experienced a considerable loss from operations of PKR 56.68 million. While other income partially offset the losses, it wasn’t sufficient to achieve profitability. The company’s scheme of arrangement with creditors sanctioned by the Sindh High Court Karachi is under implementation.

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

πŸ“Œ Key Takeaways

  • πŸ“‰ Loss after taxation: PKR 51.67 million in 2025 vs. Profit of PKR 735.26 million in 2024.
  • πŸ“‰ EPS: Negative PKR 2.72 in 2025 vs. Positive PKR 38.73 in 2024.
  • ⚠️ Loss from operations: PKR 56.68 million in 2025 compared to PKR 16.39 million in 2024.
  • ⬆️ Other income: Decreased significantly to PKR 5.03 million in 2025 from PKR 751.66 million in 2024.
  • πŸ’° Finance Cost: Remained relatively stable at PKR 18,901 in 2025 compared to PKR 14,783 in 2024.
  • βš–οΈ (Loss)/Profit before Taxation: PKR (51,667,958) in 2025 vs. PKR 735,259,923 in 2024.
  • 🚫 No Cash Dividend, Bonus Shares, or Right Shares were declared for the year.
  • πŸ›οΈ Scheme of Arrangement: Implementation ongoing, sanctioned by Sindh High Court Karachi.
  • πŸ“… AGM: Annual General Meeting scheduled for October 28, 2025.
  • πŸ“š Share Transfer Books: To remain closed from October 21, 2025, to October 28, 2025.
  • 🏦 Payable to Banking Companies under scheme of arrangement: PKR 8,216,834,000 for both 2025 and 2024.
  • Assets decreased slightly from PKR 448.74 million in 2024 to PKR 441.41 million in 2025.

🎯 Investment Thesis

SELL. Gulistan Textile Mills’ financial performance has deteriorated significantly, with a substantial loss reported for the year ended June 30, 2025. The negative EPS and cash flow from operations, coupled with large accumulated losses and ongoing financial restructuring, make it a risky investment. A price target cannot be reasonably established given the negative earnings. The time horizon is indefinite.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 6, 2025

πŸ“‰ ITTEFAQ: SELL Signal (7/10) – TRANSMISSION OF ANNUAL REPORT FOR THE YEAR ENDED 30.06.2025

⚑ Flash Summary

ITTEFAQ Iron Industries Limited’s 2025 annual report reveals a challenging year, marked by substantial losses attributed to political and economic instability, high costs of doing business, and reduced demand for steel products. The company faced headwinds from rising inflation, high energy prices, and heavy taxation, which eroded profit margins. Despite government efforts to reduce electricity rates and interest rates, the impact remains insufficient. Management is focused on streamlining operations and optimizing resource utilization to minimize losses, expressing confidence in overcoming challenges and restoring profitability.

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

πŸ“Œ Key Takeaways

  • πŸ“‰ Ittefaq Iron Industries reported significant losses for the year ended June 30, 2025.
  • πŸ‡΅πŸ‡° Political and economic instability negatively impacted the steel sector in Pakistan.
  • πŸ’° High costs of doing business, including energy and interest rates, contributed to substantial losses.
  • ⬆️ Inflation eroded purchasing power, reducing demand for steel products.
  • 🚧 Reduced construction activity due to high material costs further decreased steel demand.
  • 🚫 Irrational tariff structures and steel product smuggling led to unfair competition.
  • ⚑ Electricity rates in Pakistan are among the highest in the region, increasing costs.
  • πŸ“‰ Reduced government spending on Public Sector Development Programs (PSDP) affected steel demand.
  • πŸ’Ό The company focuses on streamlining operations and cost-cutting efforts.
  • 🌱 Government initiatives for economic growth offer some hope for the steel sector.
  • 🀝 The company is committed to overcoming challenges and restoring profitability.
  • πŸ” Auditors identified non-compliance with regulations regarding director training.
  • βœ”οΈ The Board has set up an effective internal audit function who are considered suitably qualified and experienced.
  • πŸ›‘ No cash dividend or bonus shares were proposed for the year ended June 30, 2025.

🎯 Investment Thesis

Given the company’s current financial performance, challenges, and uncertainties, a SELL recommendation is warranted. The significant losses, high costs, and unfavorable market conditions suggest considerable downside risk. A price target cannot be accurately determined due to negative earnings, however, due to all of the previously stated reasons the recommendation is SELL.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 6, 2025

πŸ“‰ MUBT: SELL Signal (8/10) – Transmission of Annual Report for the Year Ended 30.06.2025

⚑ Flash Summary

Mubarak Textile Mills Limited’s 2025 annual report reveals a challenging financial year. The company experienced an operating loss of (9,775,671) Rupees, an improvement from the previous year’s (10,605,906) Rupees. Accumulated losses continue to weigh on the company, standing at 87.213 million Rupees. Auditors have issued an adverse opinion, casting doubt on the company’s ability to continue as a going concern, despite management’s plans for revival.

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

πŸ“Œ Key Takeaways

  • 1. πŸ“‰ Operating loss improved to (9,775,671) Rupees from (10,605,906) Rupees year-over-year.
  • 2. ⚠️ Accumulated losses increased to 87.213 million Rupees.
  • 3. πŸ›οΈ Auditors issued an adverse opinion, questioning the going concern status.
  • 4. 🏒 Current liabilities exceed current assets by 1.065 million Rupees.
  • 5. ❌ Dividend is passed over due to tight liquidity.
  • 6. 🏭 Operations ceased in 2011, with revenue primarily from rental income.
  • 7. 🀝 Interest-free loans from sponsors amount to 47.387 million Rupees, terms not settled.
  • 8. βš–οΈ Winding-up petition filed by SECP is pending in Lahore High Court.
  • 9. 🏒 The company recognized rental income of 9.904 million Rupees.
  • 10. πŸ“ˆ Revaluation surplus reported at 1.506 million Rupees.
  • 11. πŸ—“οΈ Four Board meetings were held during the year, with full attendance.
  • 12. 🀝 Relations between management and employees remained cordial.
  • 13. πŸ‘¨β€πŸ’Ό Present auditors retired and offer themselves for reappointment.
  • 14. 🎯 Management aims to revive company through stitching of Knitwear garments.
  • 15. πŸ“œ Board confirms compliance with Corporate Governance regulations, with some exceptions.

🎯 Investment Thesis

Given the adverse auditor opinion, accumulated losses, negative current ratios, and pending litigation, a SELL recommendation is warranted. The company’s financial statements reflect material uncertainty regarding its ability to continue as a going concern. The stock has little to no intrinsic value given its financial distress. The risks far outweigh any potential reward. Price target of zero, long term investment horizon.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 6, 2025