SELL - FoxLogica

📉 TRSM: SELL Signal (7/10) – Financial Results for the Quarter ended September 30, 2025.

⚡ Flash Summary

Trust Modaraba’s financial results for the quarter ended September 30, 2025, reveal a decline in profitability compared to the same period last year. The company reported a profit after taxation of PKR 3.78 million, a significant decrease from PKR 6.29 million in September 2024. This drop in earnings is reflected in the decreased earnings per certificate, which fell from PKR 0.211 to PKR 0.127. While revenue streams such as profit on musharakah finances remain robust, other income sources have contracted, impacting overall financial performance.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Profit after taxation decreased to PKR 3.78 million in Sep 2025 from PKR 6.29 million in Sep 2024.
⚠️ Earnings per certificate dropped to PKR 0.127 in Sep 2025 from PKR 0.211 in Sep 2024.
⬆️ Income from ijarah decreased to PKR 1.12 million in Sep 2025 from PKR 2.61 million in Sep 2024.
⬆️ Profit on murabaha finances decreased to PKR 0.70 million in Sep 2025 from PKR 1.05 million in Sep 2024.
📊 Profit on musharakah finances slightly increased to PKR 12.81 million in Sep 2025 from PKR 12.69 million in Sep 2024.
💰 Gain on sale of short term investments decreased to PKR 1.77 million in Sep 2025 from PKR 0.49 million in Sep 2024.
💼 Other income decreased to PKR 0.42 million in Sep 2025 from PKR 3.62 million in Sep 2024.
📈 Unrealized gain on revaluation of financial assets increased to PKR 0.99 million in Sep 2025 from PKR -1.28 million in Sep 2024.
расходов Operating expenses increased to PKR 11.71 million in Sep 2025 from PKR 10.87 million in Sep 2024.
💸 Modaraba Management Company’s fee decreased to PKR 0.61 million in Sep 2025 from PKR 0.85 million in Sep 2024.
🏢 Total assets increased to PKR 402.52 million in Sep 2025 from PKR 401.96 million in June 2025.
🏦 Cash and bank balances decreased to PKR 8.85 million in Sep 2025 from PKR 9.06 million in June 2025.
Liabilities Current liabilities slightly decreased to PKR 31.39 million in Sep 2025 from PKR 33.74 million in June 2025.
✅ Total equity increased to PKR 352.53 million in Sep 2025 from PKR 348.75 million in June 2025.
❌ No cash dividend, bonus shares, or right shares were recommended for certificate holders.

🎯 Investment Thesis

Based on the declining profitability and negative trends observed in various income streams, a SELL recommendation is warranted for Trust Modaraba. The reduced earnings per certificate and liquidity concerns raise questions about the company’s near-term financial health. A price target of PKR 2.50 is set, reflecting a conservative valuation based on the current EPS and prevailing market conditions. The time horizon for this recommendation is SHORT_TERM, as the negative trends are expected to persist in the coming quarters.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements KHYT Signal: SELL

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

⚡ Flash Summary

KHYT reported results for the quarter ended September 30, 2025. The company experienced no sales for the quarter, consistent with the prior year. Administrative and financial expenses resulted in an operating loss of (6,660,067) Rupees, compared to an operating loss of (6,158,284) Rupees in the same quarter last year. The total comprehensive loss for the quarter was (4,676,717) Rupees, compared to a loss of (3,955,884) Rupees in the prior year, with a basic and diluted EPS of (3.81) compared to (3.22) last year.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 No sales were reported for the quarter ended September 30, 2025, mirroring the previous year.
💰 Administrative expenses totaled 6,660,067 Rupees, up from 6,157,996 Rupees last year.
💸 Financial expenses (bank charges) amounted to 288 Rupees.
Operating loss widened to (6,660,067) Rupees from (6,158,284) Rupees year-over-year.
🏦 Other operating income (rent) decreased to 1,983,350 Rupees from 2,202,400 Rupees.
❗ Loss before taxation increased to (4,676,717) Rupees from (3,955,884) Rupees.
📉 Total comprehensive loss was (4,676,717) Rupees, compared to (3,955,884) Rupees in the prior year.
📉 Basic and diluted EPS was (3.81) Rupees, down from (3.22) Rupees last year.
🏢 Property, plant, and equipment decreased slightly to 1,279,060,574 Rupees from 1,280,756,896 Rupees.
💵 Cash and bank balances decreased to 16,552,916 Rupees from 19,683,311 Rupees.
🧾 Accumulated loss increased to (11,236,826) Rupees from (6,560,109) Rupees.
⚠️ Short term loan from director decreased to 5,409,718 Rupees from 5,559,718 Rupees.

🎯 Investment Thesis

Given the absence of sales, increasing losses, and negative EPS, a SELL recommendation is warranted. The company’s financial situation is deteriorating, and there is no clear indication of a turnaround. Until the company can demonstrate revenue generation and improved profitability, the stock is considered a high-risk investment. Price Target: Significantly below current levels reflecting the eroding equity and going concern risks.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

AGHA announcements Signal: SELL

📉 AGHA: SELL Signal (7/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

AGHA Steel Industries Limited reported a challenging first quarter ending September 30, 2025. The company experienced a significant decrease in turnover compared to the same period last year, leading to a substantial net loss. This loss was further compounded by high finance costs and other expenses. There was no dividend declared for the quarter. Investors should monitor the company’s ability to manage costs and improve revenue generation in the coming quarters.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Turnover decreased to PKR 2,162.185 million from PKR 2,845.189 million year-over-year.
❌ No cash dividend, bonus shares, or right shares were recommended by the board.
Loss after taxation was PKR (1,168.632) million compared to PKR (1,814.850) million in the prior year.
💸 Finance costs remained high at PKR (730.819) million, although lower than last year’s PKR (1,139.667) million.
Operating loss was PKR (1,241.388) million, a slight improvement from PKR (1,635.657) million last year.
📉 Basic and diluted loss per share was PKR (1.93), improved from PKR (3.00) last year.
📊 Total assets decreased slightly from PKR 55,707.652 million to PKR 55,112.670 million.
📉 Total shareholders’ equity decreased from PKR 20,975.391 million to PKR 19,806.759 million.
⚠️ Accumulated loss increased to PKR (4,188.712) million from PKR (3,180.709) million.
💰 Cash and cash equivalents decreased from PKR 48.462 million to PKR 26.097 million.
❌ Net cash used in investing activities was PKR (48.569) million.
📉 Net decrease in cash and cash equivalents was PKR (22.365) million.
📉 The company’s performance continues to be impacted by high finance costs and declining revenues.

🎯 Investment Thesis

Given the declining revenue, high finance costs, increasing accumulated losses, and negative cash flows, a SELL recommendation is warranted for Agha Steel. The price target is significantly lower than the current market price, reflecting the company’s poor financial performance and uncertain outlook. The time horizon is medium-term (6-12 months) until the company can demonstrate sustained improvement in its financial performance.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements JSCLPSA Signal: SELL

📉 JSCLPSA: SELL Signal (6/10) – 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 7, 2025, Mr. Shahid Hussain Jatoi, a Director at Jahangir Siddiqui & Co. Ltd. (JSCLPSA), and his spouse, Ambreen Jatoi, sold Class ‘A’ Preference shares of the company. Mr. Jatoi sold 200 shares at a price of Rs.14.25 per share, while Ms. Jatoi sold 17,800 shares, also at Rs.14.25 per share. The transactions were executed electronically through the Central Depository Company (CDC) and through ready market. According to the announcement, the cumulative shareholding percentage for both parties after the transaction is 0%.

Signal: SELL 📉

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🚨 Director and spouse sold shares: Shahid Hussain Jatoi, a Director, and Ambreen Jatoi, his spouse, sold shares.
📉 Class ‘A’ Preference shares: The shares sold were Class ‘A’ Preference shares of Jahangir Siddiqui & Co. Ltd.
📅 Transaction date: The transactions occurred on October 7, 2025.
💰 Sale price: Both Mr. Jatoi and Ms. Jatoi sold their shares at Rs.14.25 per share.
📊 Mr. Jatoi’s sale: Mr. Jatoi sold 200 shares of JSCLPSA.
📈 Ms. Jatoi’s sale: Ms. Jatoi sold 17,800 shares of JSCLPSA.
💱 Electronic transaction: The transactions were executed electronically through CDC.
🏛️ Ready Market: The sales took place through the Ready Market.
📊 Cumulative shareholding: After the transaction, the cumulative shareholding percentage for both individuals is 0%.
💼 Disclosure: The disclosure was made under PSX Rule Book and the Securities Act, 2015.
🏢 Company Secretary: Muhammad Babar Din, Company Secretary, made the announcement.
📜 Annexure A: Details are provided in Annexure A, as per clause 5.6.4 of the PSX Rule Book.
📍 Registered Office: The registered office is located in ISE Towers, Islamabad.

🎯 Investment Thesis

SELL. The sale of shares by a director and his spouse raises concerns about insider sentiment and potential future performance of JSCLPSA. While it’s not conclusive, the disclosure indicates a potential lack of confidence. Coupled with the fact that the cumulative shareholding after sale is 0%, investors might lose confidence which could negatively impact the stock price. A price target would depend on a more comprehensive analysis of JSCLPSA’s fundamentals, but given the negative signal, a reduction from the current market price seems likely within the next 6-12 months.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements KAPCO Signal: SELL

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

⚡ Flash Summary

KAPCO’s financial results for the quarter ended September 30, 2025, reveal a concerning downturn. Revenue generation has come to a standstill, with a reported revenue of zero for the period. Consequently, the company posted a net profit of PKR 4.876 million, significantly lower than the PKR 1,162.207 million recorded in the same quarter last year. This drastic reduction in profitability is primarily attributable to the absence of revenue, which is quite alarming.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

⚠️ Revenue from contracts with customers is zero for the quarter ended September 30, 2025.
📉 Gross Loss significantly improved from (PKR 977.828) thousand to (PKR 831.400) thousand.
😕 Operating profit declined sharply from PKR 1,269.605 million to PKR 216.131 million.
💸 Finance costs decreased from PKR (205.496) thousand to (PKR 5.020) thousand.
📊 Profit before income tax decreased from PKR 1,064.105 million to PKR 211.111 million.
🧾 Income Tax showed significant drop from PKR 98.102 million to PKR (206.235) million.
📉 Profit for the period saw a massive reduction from PKR 1,162.207 million to PKR 4.876 million.
📉 Earnings per share (basic and diluted) decreased drastically from PKR 1.32 to PKR 0.01.
📉 Property, plant and equipment declined from PKR 1,818.304 million to PKR 1,819.534 million.
📉 Trade debts secured decreased from PKR 4,141.087 million to PKR 3,543.144 million.
📉 Investments at fair value decreased from PKR 41,071.844 million to PKR 38,634.857 million.
💰 Cash and cash equivalents at the end of the period decreased from PKR 827.449 thousand to PKR 1,080,406 million.

🎯 Investment Thesis

Given the dire financial results, highlighted by the absence of revenue and a steep decline in profitability, a SELL recommendation is warranted for KAPCO. The lack of revenue raises significant concerns about the company’s future prospects and ability to sustain its operations. With the current financial performance, a price target reflecting substantial downside is justified. The time horizon for this recommendation is short to medium-term, contingent on the company’s ability to demonstrate a recovery in revenue generation.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements PKGP Signal: SELL

📉 PKGP: SELL Signal (9/10) – FINANCIAL RESULTS FOR THE 3RD QUARTER ENDED DEPTEMBER 30, 2025

⚡ Flash Summary

Pakgen Power Limited’s financial results for the third quarter ended September 30, 2025, show a concerning net loss of PKR 296.093 million, a stark contrast to the profit of PKR 6,197.846 million in the same period last year. Revenue experienced a sharp decline, falling to PKR 925.405 million from PKR 10,806.198 million. This poor performance led to a loss per share of PKR 0.80, versus earnings per share of PKR 16.66 last year. The company did not declare any cash dividend, bonus shares, or any other entitlement.

Signal: SELL 📉

Strength: 9/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Pakgen Power reported a net loss of PKR 296.093 million for the quarter ended September 30, 2025.
📉 This contrasts sharply with a profit of PKR 6,197.846 million in the same period last year.
📉 Revenue plummeted to PKR 925.405 million from PKR 10,806.198 million year-over-year.
⛔ Loss per share (LPS) stood at PKR 0.80, compared to earnings per share (EPS) of PKR 16.66 last year.
❌ No cash dividend was declared for the period.
❌ No bonus shares were announced.
❌ No right shares were announced.
❌ No other entitlement was announced.
🔻 Total Equity decreased to PKR 25,554.896 million from PKR 26,595.153 million at the end of 2024.
⚠️ Finance costs decreased from PKR 27.493 million to PKR 280 million.
💰 Cash and cash equivalents increased from PKR 6,726.329 million to PKR 22,038.065 million during the nine-month period.
🏭 Plant maintenance and preservation costs were PKR 1,649.333 million for the nine-month period.
⚠️ Taxation was a significant expense at PKR 311.335 million.
📉 Total comprehensive loss for the period was PKR 296.093 million.

🎯 Investment Thesis

Given the significant decline in revenue and the swing to a net loss, a SELL recommendation is appropriate. The lack of dividend further reduces the attractiveness of the stock. Price target: revise downward based on negative earnings. Time horizon: Medium Term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements IBFL Signal: SELL

📉 IBFL: SELL Signal (7/10) – Financial Results for the Quarter Ended 30-09-2025

⚡ Flash Summary

IBFL’s financial results for the quarter ended September 30, 2025, reveal a mixed performance. While the company reported a net sales of PKR 24.91 billion, this represents a decline compared to PKR 27.05 billion in the same quarter last year. Profitability has also been significantly impacted, with a profit for the period decreasing from PKR 582.66 million in Q3 2024 to PKR 151.84 million in Q3 2025. This decline in profitability is a key concern for investors.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Net sales decreased to PKR 24.91 billion in Q3 2025 from PKR 27.05 billion in Q3 2024.
📉 Profit for the period significantly dropped to PKR 151.84 million in Q3 2025 compared to PKR 582.66 million in Q3 2024.
💸 Earnings per share (EPS) declined to PKR 0.49 in Q3 2025 from PKR 1.88 in Q3 2024.
⚠️ Cost of goods sold decreased but not enough to offset sales decline, impacting gross profit.
📉 Gross profit decreased from PKR 2.24 billion to PKR 1.49 billion.
⚠️ Finance costs decreased to PKR 207.41 million from PKR 370.63 million.
🔻 Nine-month sales decreased to PKR 78.24 billion in 2025 from PKR 91.04 billion in 2024.
🔻 Nine-month profit decreased to PKR 1.59 billion in 2025 from PKR 1.73 billion in 2024.
💰 Cash flow from operations is PKR 4.97 billion.
💼 Total capital employed increased to PKR 72.24 billion from PKR 68.35 billion.
⛔️ No cash dividend, bonus shares, or right shares were announced.

🎯 Investment Thesis

Given the declining revenue, significant decrease in profitability, and reduced EPS, a SELL recommendation is warranted for IBFL. The company’s financial performance indicates underlying operational and market-related challenges. The price target should be revised downwards to reflect the lower earnings potential and increased risks. Time horizon is short term, expecting further decline in the stock price.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements CSIL Signal: SELL

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

⚡ Flash Summary

Crescent Star Insurance Limited reported its financial results for the quarter ended September 30, 2025. The company’s net insurance premium decreased significantly compared to the same quarter last year, moving from 48.68 million to 21.77 million rupees. This resulted in an underwriting loss of 9.88 million rupees, a stark contrast to the 18.87 million rupees profit in the previous year. The company reported a loss after tax of 7.17 million rupees, compared to a profit of 10.34 million rupees in the same quarter last year.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Net insurance premium decreased by approximately 55.3% year-over-year (YoY), from 48.68 million to 21.77 million rupees.
⚠️ Underwriting results turned negative, with a loss of 9.88 million rupees compared to a profit of 18.87 million rupees in the same quarter last year.
⛔️ Loss after tax reported at 7.17 million rupees, a significant downturn from a profit of 10.34 million rupees YoY.
🔻 Earnings per share (EPS) is negative at (0.07) compared to 0.10 YoY.
Investments brought income of 2.16 million rupees.
💸 Other income decreased from 0.31 million to 2.15 million rupees.
💸 Finance costs were not listed, implying their insignificance.
👎 Total comprehensive income decreased significantly to 33.57 million rupees from -21.32 million rupees YoY.
💰 Cash and cash equivalents at the end of the period stood at 1.23 million rupees.

🎯 Investment Thesis

Given the significant decline in financial performance and increased risks, a SELL recommendation is warranted. The negative EPS, declining revenue, and shift to underwriting losses indicate fundamental problems. A price target would be require a more thorough discounted cash flow analysis but is expected to be below the current market price with a short-term time horizon.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements DFML Signal: SELL

📉 DFML: 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 24, 2025, Dewan Farooque Motors Limited disclosed transactions by a substantial shareholder, Dewan M. Yousuf Farooqui, involving the sale of company shares on the Pakistan Stock Exchange (PSX). The sales occurred between October 14 and October 21, 2025, through the ready market via Central Depository Company (CDC). These transactions cumulatively reduced Dewan M. Yousuf Farooqui’s shareholding from 37.46% to 35.38%. The company confirms that these transactions will be presented in a subsequent board meeting and comply with PSX regulations.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 Dewan M. Yousuf Farooqui sold shares in Dewan Farooque Motors Limited.
🗓️ Sales occurred on multiple dates: Oct 14, 15, 16, 20, and 21, 2025.
🏢 Transactions were executed through the ready market via CDC.
💰 Sale prices ranged from PKR 30.00 to PKR 31.56 per share.
📉 A total of 6,539,161 shares were sold during this period.
📊 Initial shareholding of Dewan M. Yousuf Farooqui was 37.46%.
📉 Final shareholding after the sales is reported as 35.38%.
📉 Total percentage decrease in shareholding is approximately 2.08%.
🏢 The company confirms compliance with PSX regulations 5.6.4(d).
✅ Board meeting will review the transactions.
⏳ Holding period for the sold shares exceeded six months.
📜 Sections 104 and 105 of the Securities Act, 2015 are not applicable.
👨‍💼 Muhammad Hanif German, Director & Company Secretary, signed the disclosure.
👨‍💼 Mehmood-ul-Hassan Asghar, Director, also signed the disclosure.

🎯 Investment Thesis

SELL. The reduction in shareholding by a substantial shareholder is a negative signal. While the company confirms compliance with regulations, the potential for further selling pressure and the resulting negative market sentiment outweigh any positive aspects. A price target needs further analysis based on the company’s financials and market conditions, but a downward revision may be warranted given the current situation.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

announcements SIBL Signal: SELL

📉 SIBL: SELL Signal (7/10) – FINANCIAL RESULTS FOR THE QUARTER ENDED 30 SEPTEMBER 2025

⚡ Flash Summary

Security Investment Bank Limited (SIBL) reported its financial results for the quarter ended September 30, 2025. The company’s statement of financial position shows total assets of PKR 913.87 million, slightly down from PKR 916.64 million in December 2024. The statement of profit or loss reveals an after-tax profit of PKR 26.52 million for the nine months ended September 2025, compared to PKR 56.73 million for the same period in 2024. Basic and diluted earnings per share (EPS) decreased to PKR 0.448 from PKR 0.972 year over year. The board did not recommend any cash dividend, bonus shares, or right shares.

Signal: SELL 📉

Strength: 7/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 **Profit Decline:** Net profit after tax plummeted to PKR 26.52 million for the nine months ended September 2025, a significant decrease from PKR 56.73 million in the same period last year.
💸 **EPS Decrease:** Basic and diluted earnings per share (EPS) saw a considerable drop to PKR 0.448 from PKR 0.972 year over year, indicating lower profitability per share.
💼 **Total Assets:** Total assets slightly decreased to PKR 913.87 million as of September 30, 2025, compared to PKR 916.64 million in December 2024.
🚫 **No Dividends:** The board of directors did not recommend any cash dividend, bonus shares, or right shares, potentially disappointing investors seeking income.
📊 **Operating Profit Before Tax:** Operating profit before tax decreased to PKR 27.41 million for the nine months ended September 2025, compared to PKR 66.54 million in the same period last year.
📉 **Income Decline:** Total income decreased from PKR 104.72 million to PKR 88.16 million.
💰 **Cash Flow from Operations:** Net cash inflows from operating activities increased to PKR 79.62 million, compared to PKR 23.57 million
🏢 **Non-Current Assets:** Total non-current assets increased slightly to PKR 284.88 million from PKR 266.86 million.
🏦 **Current Assets:** Current assets decreased from PKR 649.78 million to PKR 628.99 million.
⚠️ **Decreased Tax Refund:** Tax refund due from Government decreased from PKR 34.03 million to PKR 26.52 million.

🎯 Investment Thesis

Based on the declining financial performance, including a substantial decrease in profit and EPS, I recommend a SELL rating for SIBL. The lack of dividends and the negative valuation impact further support this recommendation. The price target is PKR 5, based on a conservative earnings multiple, with a time horizon of 6 months, reflecting the urgency of addressing the profitability concerns.

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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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