⚡ Flash Summary

Burshane LPG (Pakistan) Limited reported financial results for the year ended June 30, 2025. The company’s sales decreased significantly from 2,377,502 to 1,658,578 (in thousands of Rupees). The company reports a profit of 29,522 for the year after taxation compared to a loss of 73,677 in the previous year. No cash dividend, bonus shares, or right shares were recommended by the board.

📌 Key Takeaways

• 📉 Sales decreased by approximately 30.2% from PKR 2,377.502 million in 2024 to PKR 1,658.578 million in 2025.
• ✅ The company turned profitable with a profit after taxation of PKR 29.522 million in 2025, compared to a loss of PKR 73.677 million in 2024.
• ⛔ No cash dividend was recommended for the year ended June 30, 2025.
• 🏢 Operating loss improved from PKR (66.103) million in 2024 to PKR (73.240) million in 2025.
• 💰 Other income increased significantly from PKR 65.674 million in 2024 to PKR 166.813 million in 2025.
• ⚠️ Administrative expenses decreased from PKR (117.647) million to PKR (92.789) million.
• ⚠️ Distribution and marketing expenses decreased from PKR (64.197) million to PKR (56.216) million.
• ⬆️ Earnings per share improved from a loss of PKR (3.28) in 2024 to a profit of PKR 1.31 in 2025.
• ⬆️ Revaluation surplus of property increased total comprehensive income to PKR 140.734 million in 2025 from PKR (73.677) million in 2024.
• ⬇️ Cash and cash equivalents decreased from PKR (150.385) million to PKR (119.035) million.
• ✔️ Trade debts decreased from PKR 76.722 million to PKR 40.508 million.
• ✔️ Inventory decreased from PKR 26.348 million to PKR 18.150 million.
• ⬆️ The company improved its Revenue reserves from (141,283) to (111,761)
• ⬆️ Profit before operating charges has improved from (70,253) to 36,651.

🎯 Investment Thesis

HOLD. While the company has shown improvement in profitability and EPS, the decline in sales raises concerns about long-term sustainability. The increase in other income, while positive, may not be consistent. A hold recommendation is appropriate until there is more clarity on revenue growth and operational stability. The fact that the company is in negative cash flow from operations does make this quite risky.

⚡ Flash Summary

Burshane LPG (Pakistan) Limited will hold its 59th Annual General Meeting (AGM) on November 27, 2025, to confirm the minutes of the previous meeting, consider and approve the annual audited financial statements, and appoint auditors for the financial year ending June 30, 2026. The meeting will occur at the Korangi Plant in Karachi, with transportation arranged from the head office. Shareholders can attend physically or virtually via Zoom, with registration required beforehand. The company also reminds shareholders about the mandatory electronic dividend payments and the conversion of physical shares into CDC accounts.

📌 Key Takeaways

• 📅 AGM scheduled for Thursday, November 27, 2025, at 11:30 A.M.
• 📍 Location: Korangi Plant (KP1), adjacent to Pakistan Refinery Limited, Karachi.
• 🚌 Transport facility arranged from Horizon Vista head office at 10:15 A.M.
• ✅ To confirm minutes of the 58th Annual General Meeting held on October 28, 2024.
• 📜 To approve annual audited financial statements and reports for the year ended June 30, 2025.
• 🧑‍💼 M/s. Clarkson Hyde Saud Ansari & Co. recommended as auditors for the year ending June 30, 2026.
• 💻 Shareholders can attend via Zoom by registering before November 25, 2025.
• 🆔 Shareholders must provide Name, CNIC Number, Folio/CDC Account Number, cell number, and email ID for registration.
• ✉️ Proxies must be appointed 48 hours before the meeting; attested CNIC copies required.
• 🏦 Members must notify changes in addresses to Share Registrar M/s. THK Associates (Pvt.) Limited.
• 💳 Submission of valid CNIC copies is mandatory for all members.
• 💸 Dividend payments will be made electronically to shareholders’ bank accounts.
• 🔄 Shareholders are encouraged to convert physical shares into CDC accounts.
• 🎁 No gifts or giveaways will be offered at the AGM, adhering to SECP directives.
• 🚫 Unclaimed dividends for over three years will be deposited with the Federal Government, and shares with SECP.

🎯 Investment Thesis

Based on the limited information in this announcement, a HOLD recommendation is appropriate. The company is adhering to corporate governance standards by holding the AGM and complying with regulatory requirements. A price target and time horizon will be determined upon review of detailed financial statements.