SHEZ

⚡ Flash Summary

Shezan International Limited’s corporate briefing session for FY 2024-25 reveals a mixed performance. Revenue has seen a gradual increase over the past few years, reaching PKR 9.183 billion in 2025. However, profit after tax has been volatile, with a significant loss in 2024 followed by a recovery to PKR 163 million in 2025. The company faces challenges including flood-related disruptions and the impact of Federal Excise Duty (FED) on its products.

📌 Key Takeaways

• Established in 1964, Shezan focuses on juices and drinks. 🥤
• Company has manufacturing units in KPK and Sindh. 🏭
• Revenue increased from PKR 7.313 billion in 2020 to PKR 9.183 billion in 2025. 📈
• Federal Excise Duty (FED) increased significantly in 2024 and 2025. ⚠️
• Loss after tax of PKR 463 million in 2024. 📉
• Profit after tax recovered to PKR 163 million in 2025. ⬆️
• Earnings per share (EPS) was negative in 2020 and 2024, but positive in other years. 📊
• Break-up value per share decreased from PKR 221.93 in 2020 to PKR 162.96 in 2025. ↘️
• Dividend payout ratio fluctuated, reaching 42% in 2025. 💸
• Company faces risks from floods, inflation, and currency fluctuations. 🌊
• 20% FED on juices and PKR 15/- per kg FED on sugar impacts input costs. 🍬
• Shezan is part of the Fruit Juice Council, advocating for FED reduction. 🍎
• Plans to install solar energy system in Lahore to reduce costs. ☀️
• Focus on exports, product innovation, and cost optimization. 💡

🎯 Investment Thesis

Given the inconsistent profitability, declining break-up value, and external risks, a HOLD recommendation is appropriate. While revenue growth is positive, the company needs to stabilize its profitability and mitigate the impact of FED and other risks. A BUY recommendation would require evidence of improved profitability and risk management.

⚡ Flash Summary

SHEZ announced: RESOLUTIONS PASSED BY THE SHAREHOLDERS AT 62nd ANNUAL GENERAL MEETING OF SHEZAN INTERNATIONAL LIMITED. Basic analysis suggests neutral sentiment. Professional review recommended.

📌 Key Takeaways

• SHEZ made announcement: RESOLUTIONS PASSED BY THE SHAREHOLDERS AT 62nd ANNUAL GENERAL MEETING OF SHEZAN INTERNATIONAL LIMITED
• Automated analysis: HOLD signal detected
• Signal strength: 5/10
• This is basic analysis – manual review recommended
• Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for SHEZ. Manual verification required.

⚡ Flash Summary

Shezan International Limited’s unaudited financial results for the quarter ended September 30, 2025, show a mixed performance. Revenue increased year-over-year, but finance costs remain high. The board has approved the financial statements, but no dividends, bonus shares, or rights issues were recommended. Net profit for the period stands at PKR 111.357 million, significantly higher than the PKR 10.283 million in the same period last year.

📌 Key Takeaways

• 📈 Revenue from contracts with customers increased to PKR 2,486.496 million compared to PKR 2,307.571 million in 2024.
• 💰 Gross profit increased to PKR 669.861 million from PKR 522.539 million year-over-year.
• 💸 Distribution expenses increased to PKR 341.531 million from PKR 318.189 million.
• 🏢 Administrative expenses increased to PKR 117.201 million from PKR 94.425 million.
• 📉 Finance costs decreased to PKR 39.931 million from PKR 57.420 million.
• ✅ Net profit for the period increased significantly to PKR 111.357 million from PKR 10.283 million.
• 📊 Earnings per share (basic and diluted) increased to PKR 11.52 from PKR 1.06.
• 🏦 Total assets increased to PKR 4,353.049 million from PKR 4,197.734 million as of June 30, 2025.
• 🧾 Trade receivables increased to PKR 762.559 million from PKR 565.660 million.
• 💵 Cash and bank balances decreased to PKR 47.821 million from PKR 162.838 million.
• ⚠️ Short-term borrowings increased to PKR 1,309.869 million from PKR 1,015.053 million.

🎯 Investment Thesis

HOLD. While revenue and profit are increasing, the liquidity position needs closer monitoring. An increase in receivables and borrowings must be carefully analyzed before considering a buy. I am setting a price target of PKR 500, with a 12 month horizon contingent on improved cash flow and debt management.

⚡ Flash Summary

SHEZ announced: Transmission of Quarterly Report for the Period Ended 30 September 2025. Basic analysis suggests neutral sentiment. Professional review recommended.

📌 Key Takeaways

• SHEZ made announcement: Transmission of Quarterly Report for the Period Ended 30 September 2025
• Automated analysis: HOLD signal detected
• Signal strength: 5/10
• This is basic analysis – manual review recommended
• Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for SHEZ. Manual verification required.

⚡ Flash Summary

SHEZ announced: BOARD MEETING OF SHEZAN INTERNATIONAL LIMITED. Basic analysis suggests neutral sentiment. Professional review recommended.

📌 Key Takeaways

• SHEZ made announcement: BOARD MEETING OF SHEZAN INTERNATIONAL LIMITED
• Automated analysis: HOLD signal detected
• Signal strength: 5/10
• This is basic analysis – manual review recommended
• Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for SHEZ. Manual verification required.

⚡ Flash Summary

SHEZ announced: 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 Reg. Basic analysis suggests neutral sentiment. Professional review recommended.

📌 Key Takeaways

• SHEZ made announcement: 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
• Automated analysis: HOLD signal detected
• Signal strength: 5/10
• This is basic analysis – manual review recommended
• Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for SHEZ. Manual verification required.

⚡ Flash Summary

Shezan International Limited will hold a corporate briefing session on October 28, 2025, to discuss the company’s financial performance for the year ended June 30, 2025. The session will be conducted via Zoom. Interested shareholders, analysts, and investors are requested to register in advance by October 27, 2025. The announcement was made on October 17, 2025.

📌 Key Takeaways

• 📅 Corporate Briefing Session (CBS) scheduled for Tuesday, 28 October 2025.
• 🕒 Time: 03:30 p.m.
• 💻 The CBS will be held via Zoom video link.
• 🔗 Zoom Link: https://us02web.zoom.us/j/86928012281?pwd=kbX8PmgmMfycUSDDyjjzaUzbR1YIHC.1
• 🔑 Meeting ID: 869 2801 2281
• 🔒 Passcode: 614326
• 🗣️ The briefing will cover the company’s financial performance.
• 📈 The briefing will also discuss the future outlook.
• 🏢 Addressed to shareholders, analysts, and investors.
• 📝 Registration required in advance.
• 📧 Register by emailing meetings@shezan.com.
• ⏳ Registration deadline: On or before 27 October 2025.
• ℹ️ Subject line for registration: “Registration for CBS”.
• 📜 Financial year-end is June 30, 2025.

🎯 Investment Thesis

Given the lack of financial specifics, a HOLD recommendation is appropriate. A more informed recommendation can be made after the briefing when financial data is available.

⚡ Flash Summary

Shezan International Limited has announced its 62nd Annual General Meeting (AGM) to be held on October 28, 2025, both at the company’s registered office and virtually via Zoom. The AGM will cover key agenda items including the ratification of related party transactions disclosed in the financial statements for the year ended June 30, 2025. Shareholders will also vote on approving potential related party transactions for the upcoming fiscal year 2025-26, authorizing the Board of Directors to handle these transactions, and altering the Articles of Association to increase the remuneration of non-executive Directors. Shareholders can participate through postal ballot or e-voting, with specific deadlines and procedures outlined in the notice.

📌 Key Takeaways

• 📅 AGM Date: Tuesday, October 28, 2025, at 11:00 am.
• 🏢 Location: Registered Office, 56-Bund Road, Lahore, and virtually via Zoom.
• ✉️ Postal Ballot: Shareholders can vote via postal ballot.
• 📧 Designated Email: Ballots should be sent to meetings@shezan.com.
• ✔️ Related Party Transactions: Ratification of transactions disclosed in Note 40 of the financial statements for the year ended June 30, 2025.
• 🤝 Future Transactions: Approval for potential related party transactions in fiscal year 2025-26.
• 👨‍💼 Board Authorization: Empowering the Board of Directors to carry out related party transactions.
• 📜 Articles Alteration: Amendment to increase non-executive Directors’ remuneration.
• 💰 Director’s Fee: Increase from Rs. 50,000 to Rs. 75,000 per meeting.
• 🖋️ CEO/Secretary Authority: Authorization for CEO and Company Secretary to take necessary actions and filings.
• 📝 Special Resolutions: All key agenda items to be passed as special resolutions.
• 🗳️ E-Voting: Shareholders can cast e-votes online from October 25 to October 27, 2025.
• 🌐 Website: Ballot paper form available on the company website at www.shezan.com.
• ⚠️ Deadline: Postal ballots must reach the Chairman on or before October 27, 2025.
• 🏢 Registered Office: Shezan International Limited, 56-Bund Road, Lahore.

🎯 Investment Thesis

Given the limited information available in the announcement, a HOLD recommendation is appropriate. The notice primarily addresses procedural items and lacks sufficient financial data to make an informed investment decision. Further analysis of Shezan International Limited’s financial statements, related party transactions, and strategic outlook is needed before considering a BUY or SELL recommendation. A price target cannot be established without a detailed valuation analysis. This recommendation is valid until the next financial results are released and analyzed.

⚡ Flash Summary

Shezan International Limited will hold its 62nd Annual General Meeting on October 28, 2025, to confirm minutes, adopt financial statements for the year ended June 30, 2025, and approve a cash dividend of Rs.7 per share (70%). The meeting will also appoint external auditors for the financial year 2025-26 and fix their remuneration. Special resolutions include ratifying related party transactions and approving potential future transactions with related parties. Shareholders can participate virtually via Zoom, with registration required in advance, and the share transfer books will be closed from October 21 to October 28, 2025.

📌 Key Takeaways

• 🗓️ AGM Date: October 28, 2025, at 11:00 am at the company’s registered office and virtually.
• ✅ Agenda: Confirm minutes of the previous AGM held on October 26, 2024.
• 🧾 Financials: Adoption of audited financial statements for the year ended June 30, 2025.
• 💰 Dividend: Approval of cash dividend @ Rs.7/- per share (70%) for the year ended June 30, 2025.
• 👨‍💼 Auditors: Appointment of external auditors for the financial year ending 2025-26.
• 🤝 Related Parties: Ratification of related party transactions disclosed in the financial statements for the year ended June 30, 2025.
• 💼 Future Transactions: Approval for potential transactions with related parties intended for the financial year 2025-26.
• 📜 Alteration of Articles: Consideration of resolutions for alteration in the Articles of Association of the Company.
• 💸 Remuneration Increase: Increase in remuneration for non-executive Directors to Rs. 75,000/- per meeting.
• 💻 Virtual Participation: Shareholders can participate via Zoom; registration required at meetings@shezan.com.
• 🔒 Book Closure: Share transfer books will be closed from October 21, 2025, to October 28, 2025.
• 🏦 Bank Details: Shareholders must provide bank details to receive dividends electronically.
• 🎁 No Gifts: The company will not distribute any gifts at the AGM.

🎯 Investment Thesis

HOLD. Given the limited information, a HOLD recommendation is appropriate. The company is paying consistent dividends. More information about the future earning is needed. A BUY recommendation is only given if the earning will grow in the coming year.