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Strength-6 - FoxLogica

⏸️ FFC: HOLD Signal (6/10) – Presentation – Fourth Corporate Briefing

⚡ Flash Summary

Fauji Fertilizer Company (FFC) held its Fourth Corporate Briefing on October 29, 2025, discussing the nine-month period ended September 30, 2025. The urea market experienced an 8% contraction, with industry sales decreasing to 4,205 KT from 4,573 KT in the prior year. FFC’s share in the urea market declined from 51% to 47%. In contrast, the DAP market saw a 17% contraction, but FFC’s market share increased from 66% to 69%.

Signal: HOLD ⏸️
Strength: 6/10
Sentiment: POSITIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📉 Urea market contracted by 8%, with industry sales at 4,205 KT vs. 4,573 KT SPLY 2024.
  • 📉 FFC’s urea market share declined to 47% from 51%.
  • 🏭 FFC’s urea production was 2,207 KT (44%) out of the industry’s 5,007 KT.
  • 📦 FFC’s urea inventory stood at 294 KT (25%) compared to the industry’s 1,162 KT.
  • 📈 DAP market contracted by 17%, with industry sales at 783 KT vs. 940 KT SPLY.
  • 📈 FFC’s DAP market share increased to 69% from 66%.
  • 🏭 FFC’s DAP production/imports were 622 KT (58%) out of the industry’s 1,064 KT.
  • 📦 FFC’s DAP inventory was 110 KT (29%) compared to the industry’s 380 KT.
  • 💰 Revenue increased to PKR 283 Bn from PKR 224 Bn LY.
  • 💰 Gross Profit increased to PKR 93 Bn from PKR 88 Bn LY.
  • 💰 Operating Profit remained flat at PKR 69 Bn.
  • 💰 Other Income increased to PKR 34 Bn from PKR 28 Bn LY.
  • 💰 Profit after tax increased to PKR 57.6 Bn from PKR 50.6 Bn LY.
  • 💰 Earning per Share increased to PKR 40.50 from PKR 35.53 LY.
  • 🏦 Equity & Reserves increased to PKR 133 Bn from PKR 132 Bn.
  • 🏦 Stock in trade increased to PKR 60 Bn from PKR 24 Bn.
  • 🏦 Long term Borrowing decreased to PKR 24 Bn from PKR 31 Bn.
  • 🏦 Short term Investments decreased to PKR 142 Bn from PKR 204 Bn.
  • ⚖️ Debt to Equity ratio improved to 15%:85% from 19%:81%.
  • ✔️ Current Ratio decreased to 1.05 Times from 1.14 Times.

🎯 Investment Thesis

Based on the provided information, a HOLD recommendation is appropriate. While revenue and profit have increased, the contraction in the urea market and decline in market share raise concerns. The improved EPS and balance sheet are positive, but further analysis is needed to determine a specific price target and time horizon. More information is needed about the company’s future strategy and market outlook.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

⏸️ NRL: HOLD Signal (6/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

National Refinery Limited (NRL) reported its financial results for the quarter ended September 30, 2025. The company announced no cash dividend, bonus shares, or right shares. NRL posted a profit after taxation of PKR 1,025.086 million, a significant turnaround from the loss of PKR 7,236.585 million in the same period last year. Revenue from contracts with customers increased to PKR 111,869.867 million, compared to PKR 86,680.953 million in the prior year’s quarter.

Signal: HOLD ⏸️
Strength: 6/10
Sentiment: POSITIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 💰 NRL reported a profit after taxation of PKR 1,025.086 million, compared to a loss of PKR 7,236.585 million in Q3 2024.
  • 📈 Revenue from contracts with customers increased by 29% to PKR 111,869.867 million from PKR 86,680.953 million year-over-year.
  • 📊 Gross profit swung to PKR 4,111.805 million compared to a gross loss of PKR 6,297.241 million in the corresponding period.
  • 📉 Finance costs decreased to PKR 1,771.476 million from PKR 2,886.556 million year-over-year.
  • 🚫 No cash dividend, bonus shares, or right shares were recommended by the board.
  • 💵 Earnings per share (EPS) improved to PKR 12.82 from a loss per share of PKR (90.50) in the same quarter last year.
  • ⚠️ Trade discounts, taxes, duties, levies, and price differentials increased significantly from (19,705,141) to (32,295,197).
  • 📉 Cost of sales decreased slightly from (73,273,053) to (75,462,865).
  • 👍 Operating profit turned positive at PKR 3,639.998 million compared to an operating loss of PKR (6,691,630) million.
  • Balance sheet shows total assets of PKR 155,815.229 million compared to PKR 149,495.621 million on June 30, 2025.
  • 💼 Reserves increased to PKR 4,407.382 million from PKR 3,382.296 million.
  • 📊 Current liabilities increased from PKR 87,060.369 million to PKR 94,199.127 million.

🎯 Investment Thesis

Based on the improved financial performance, a HOLD recommendation is appropriate for NRL. The company has shown a significant turnaround in profitability, but further analysis is required to assess the sustainability of this performance and understand the impact of various risks. A price target cannot be accurately determined without more detailed financial forecasts and valuation analysis. A medium-term horizon is appropriate to monitor the company’s performance and assess the effectiveness of its operational strategies.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

⏸️ SGF: HOLD Signal (6/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Service Global Footwear Limited (SGFL) reported its unaudited financial results for the nine months and third quarter ended September 30, 2025. The company’s total equity increased to PKR 8,093.234 million compared to PKR 7,210.915 million as of December 31, 2024. Basic earnings per share (EPS) for the nine months ended September 30, 2025, was PKR 7.96, up from PKR 3.97 in the prior period. The Board of Directors did not recommend any cash dividend, bonus shares, or right shares.

Signal: HOLD ⏸️
Strength: 6/10
Sentiment: POSITIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • ✅ Revenue increased to PKR 15,186.172 million for the nine months ended September 30, 2025, from PKR 12,951.499 million in the same period last year.
  • ⬆️ Gross profit increased to PKR 2,594.351 million, compared to PKR 2,179.219 million in the prior year.
  • 📊 Profit from operations decreased slightly to PKR 827.997 million from PKR 833.769 million.
  • 💰 Finance costs decreased significantly to PKR 388.707 million from PKR 541.781 million.
  • 📈 Share of net profit of associate accounted for using the equity method increased to PKR 1,657.387 million from PKR 944.310 million.
  • 🌟 Profit before levy and taxation increased significantly to PKR 2,096.677 million from PKR 1,236.298 million.
  • 💸 Profit after taxation increased to PKR 1,640.653 million, compared to PKR 817.314 million in the prior year.
  • ⭐ Basic earnings per share (EPS) increased to PKR 7.96 from PKR 3.97.
  • 💧 Diluted earnings per share (EPS) increased to PKR 7.90 from PKR 3.95.
  • Balance sheet shows total assets increased to PKR 21,277.853 million compared to PKR 19,204.997 million as of December 31, 2024.
  • Share capital and reserves increased from PKR 7,210.915 million to PKR 8,093.234 million.
  • Total liabilities increased from PKR 11,994.082 million to PKR 13,184.619 million.
  • Cash flow from operations was negative PKR 1,105.348 million compared to negative PKR 435.690 million in the prior year.
  • Cash flow from investing activities was positive PKR 1,530.165 million compared to positive PKR 599.760 million in the prior year.
  • Cash flow from financing activities was negative PKR 849.096 million compared to negative PKR 2,550.890 million in the prior year.

🎯 Investment Thesis

HOLD. SGFL has shown significant improvement in profitability and EPS, but the negative cash flow from operations is a concern. While the company’s revenue growth and strategic investments are encouraging, the cash flow issues need to be addressed. A HOLD recommendation is appropriate until the company demonstrates improved cash management and sustainable operational efficiency. The price target is PKR 175 with a medium-term horizon.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

⏸️ AGIC: HOLD Signal (6/10) – Right Issue Final Offer Document

⚡ Flash Summary

Askari General Insurance Co. Ltd. (AGIC) is issuing 28,760,758 right shares at PKR 32 per share, aiming to raise PKR 920,344,256. This issue represents approximately 40% of the existing paid-up capital. The primary purpose of the rights issue is to strengthen the company’s capital base and working capital, ensuring compliance with regulatory paid-up capital requirements and supporting future growth and profitability. The subscription period is from November 10, 2025, to December 01, 2025.

Signal: HOLD ⏸️
Strength: 6/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📢 AGIC is issuing 28,760,758 right shares.
  • 💰 The issue price is PKR 32 per share, including a premium of PKR 22.
  • 📈 The rights issue aims to raise PKR 920,344,256.
  • 🗓️ Book closure date is November 06, 2025.
  • 📅 Subscription period: November 10, 2025, to December 01, 2025.
  • 💼 The issue represents approximately 40% of the existing paid-up capital.
  • 🎯 The goal is to strengthen the capital base and working capital.
  • ✅ Compliance with regulatory paid-up capital requirements is a key driver.
  • 🏦 Askari Bank Limited is appointed as the Banker to the Issue.
  • 📜 The Final Offer Document is submitted to the Securities and Exchange Commission of Pakistan (SECP).
  • 🤝 Substantial shareholders/directors committed to subscribing to their respective portion of Right Shares, including Army Welfare Trust with existing share of 42,600,734, committing to subscribing 17,040,293 shares for 545,289,376 PKR.

🎯 Investment Thesis

Based on the information available, a HOLD recommendation is appropriate. The rights issue aims to strengthen the company’s capital base and support future growth. AGIC has a strong financial position, and major shareholders are committed to the rights issue. However, the legal proceedings and associated costs need careful monitoring.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

⏸️ IMAGE: HOLD Signal (6/10) – Resolution Passed in AGM

⚡ Flash Summary

Image Pakistan Limited held its Annual General Meeting on October 28, 2025, and approved the standalone and consolidated audited accounts for the year ended June 30, 2025. The company re-appointed Feroze Sharif Tariq & Co. as statutory auditors with a remuneration of Rs. 1,000,000. A final cash dividend of Rs. 1.00 per share (10%) was approved, in addition to an already paid interim dividend of Rs. 1.00 per share (10%). Related party transactions disclosed in Note No. 36 were also ratified.

Signal: HOLD ⏸️
Strength: 6/10
Sentiment: POSITIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • ✅ AGM held on October 28, 2025.
  • 🏦 Standalone and Consolidated Audited Accounts for the year ended June 30, 2025, approved.
  • 👨‍💼 Feroze Sharif Tariq & Co. re-appointed as Statutory Auditors.
  • 💰 Auditor remuneration set at Rs. 1,000,000.
  • 💸 Final cash dividend of Rs. 1.00 per share (10%) approved.
  • ➕ Additional interim dividend already paid at Rs. 1.00 per share (10%).
  • 🤝 Total dividend for the year: Rs. 2.00 per share (20%).
  • 📄 Related party transactions in Note No. 36 ratified.
  • 🗓️ Authorization to carry out transactions with related parties for the year ending June 30, 2026.
  • 🗣️ All transactions to be placed before shareholders in the next AGM.

🎯 Investment Thesis

HOLD. Image Pakistan demonstrates financial stability with consistent dividend payouts. While the high dividend yield is attractive, close monitoring of related party transactions is essential. A price target cannot be accurately defined without current market data. Maintain a hold position, reviewing the company’s performance and governance practices in subsequent reports.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

⏸️ DEL: HOLD Signal (6/10) – Financial Results for the Quarter Ended 30 SEPTEMBER 2025

⚡ Flash Summary

Dawood Equities Limited (DEL) reported its financial results for the quarter ended September 30, 2025. The company’s revenue increased significantly compared to the same period last year, leading to a substantial increase in profit for the year. The earnings per share (EPS) also showed a considerable improvement. However, the company is not issuing a cash dividend, bonus issue, or right shares. The financial performance reflects improved operational efficiency and market conditions for DEL.

Signal: HOLD ⏸️
Strength: 6/10
Sentiment: POSITIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 💰 Revenue from contracts with customers increased to PKR 87.32 million from PKR 38.87 million year-over-year.
  • 🤝 Commission expenses for agents and dealers increased to PKR 44.29 million from PKR 15.87 million year-over-year.
  • 📈 Capital gain on disposal of short-term investments decreased to PKR 514,210 from PKR 4.08 million year-over-year.
  • 📉 Net unrealized loss on re-measurement of investments was PKR 17.31 million, compared to a gain of PKR 3.13 million in the previous year.
  • 💼 Administrative expenses increased to PKR 17.99 million from PKR 12.06 million year-over-year.
  • 💸 Financial charges decreased to PKR 2.29 million from PKR 3.26 million year-over-year.
  • 📊 Profit before levies and taxation significantly increased to PKR 44.06 million from PKR 11.63 million year-over-year.
  • ✅ Income tax expense increased to PKR 7.96 million from PKR 1.56 million year-over-year.
  • 🚀 Profit for the year increased substantially to PKR 35.62 million from PKR 9.54 million year-over-year.
  • ⭐ Basic and diluted earnings per share (EPS) increased to PKR 1.30 from PKR 0.35 year-over-year.
  • 🚫 No cash dividend was recommended by the board of directors.
  • 🚫 No bonus issue was recommended by the board of directors.
  • 🚫 No right shares were recommended by the board of directors.

🎯 Investment Thesis

HOLD. The significant increase in revenue and profit for the year is a positive sign. However, unrealized losses on investments and rising expenses are concerns. The lack of dividends in the announcement impacts total return. The stock has probably already moved up, so HOLD. Look for further announcements to confirm the direction.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

⏸️ OTSU: HOLD Signal (6/10) – Financial Results for the quarter ended September 30, 2025

⚡ Flash Summary

Otsuka Pakistan Limited’s financial results for the quarter ended September 30, 2025, reveal a mixed performance. Revenue increased significantly compared to the same quarter last year, but the company still experienced a net profit. Key expenses like selling and distribution also rose. The balance sheet shows a healthy current ratio, while cash flow from operations remained positive.

Signal: HOLD ⏸️
Strength: 6/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 🚀 Revenue increased to PKR 1,076.104 million, a 32.7% increase from PKR 810.914 million in Q3 2024.
  • 📉 Cost of sales increased to PKR 736.731 million from PKR 671.762 million in Q3 2024.
  • 💰 Gross profit increased substantially to PKR 339.373 million from PKR 139.152 million in Q3 2024.
  • 📊 Selling and distribution expenses increased to PKR 158.141 million from PKR 101.855 million in Q3 2024.
  • 🏢 Administrative and general expenses rose to PKR 45.743 million from PKR 41.550 million in Q3 2024.
  • ✨ Other income increased significantly to PKR 135.489 million, compared to a loss of PKR 4.253 million in Q3 2024.
  • ➖ Other expenses decreased to PKR 19.658 million from PKR 127.319 million in Q3 2024.
  • 💼 Operating profit improved significantly to PKR 179.864 million from a loss of PKR 103.691 million in Q3 2024.
  • 💸 Finance costs increased to PKR 2.533 million from PKR 1.497 million in Q3 2024.
  • ✅ Profit before tax was PKR 177.212 million compared to a loss of PKR 115.645 million in Q3 2024.
  • 🧾 Income tax expense was PKR 57.134 million versus PKR 4.040 million in Q3 2024.
  • ⭐ Profit after tax was PKR 120.078 million compared to a loss of PKR 119.685 million in Q3 2024.
  • 💲 Earnings per share was PKR 9.92, compared to a loss per share of PKR 9.89 in Q3 2024.
  • 🏦 Total assets increased to PKR 2,640.255 million from PKR 2,548.485 million as of June 30, 2025.
  • 💹 Revenue reserves increased to PKR 694.857 million from PKR 574.779 million as of June 30, 2025.

🎯 Investment Thesis

HOLD. Otsuka Pakistan has shown strong revenue growth and a return to profitability, indicating positive momentum. However, it’s essential to monitor expense management and the sustainability of other income. A ‘Hold’ recommendation is appropriate until we see more consistent performance and stability.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

⏸️ DCR: HOLD Signal (6/10) – Transmission of Annual Report for the Year Ended June 30, 2025

⚡ Flash Summary

Dolmen City REIT (DCR) reported a strong operational performance in its Annual Report for the year ended June 30, 2025. The REIT achieved an impressive occupancy rate of 98.5%, up from 97.48% the previous year. Rental income increased significantly, and the REIT successfully maintained its position as a leading retail and lifestyle destination. The board declared a final cash dividend of PKR 0.63 per unit, bringing the total dividend for FY25 to PKR 2.23 per unit.

Signal: HOLD ⏸️
Strength: 6/10
Sentiment: POSITIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 🏆 DCR’s occupancy rate reached 98.5% in FY25, increasing from 97.48% in FY24.
  • 📈 Rental income grew to PKR 5,780.50 million, up from PKR 5,078.58 million in FY24.
  • 🛍️ Marketing income rose to PKR 94.116 million, from PKR 80.02 million in FY24.
  • 🏦 Profit on Shariah-compliant bank deposits declined to PKR 211.56 million, from PKR 338.95 million in FY24.
  • 💸 Administrative, operating, and other expenses totaled PKR 1,178.09 million, up from PKR 982.52 million in FY24.
  • 📊 The fund size increased to PKR 76.52 billion, from PKR 73.19 billion in FY24.
  • ⭐ Net Asset Value (NAV) stood at PKR 34.41 per unit.
  • ✨ The stock price traded at a 21.50% discount to NAV.
  • 💰 The Board declared a final cash dividend of PKR 0.63 per unit.
  • 🎉 Total dividend for FY25 amounts to PKR 2.23 per unit.
  • ✅ Average monthly footfall increased to 747,797 visitors, up from 722,666 in FY24.
  • 👣 DCR recorded approximately 8.97 million visitors in FY25, an improvement from 8.67 million in FY24.
  • 💯 The Scheme has set the benchmark for the industry
  • 10 yr Key Metrics: Unit price rose from PKR 11.0 to PKR 27.01 (+142%), delivering 276% total return.
  • AAA, highest credit rating assigned to DCR by VIS credit rating agency

🎯 Investment Thesis

Given the high occupancy rates, growth in revenue and history of paying dividends, a HOLD position is advised. Positive signs are however counterbalanced with sector risks of concentration in Pakistan and general economic factors.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

⏸️ HINOON: HOLD Signal (6/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Highnoon Laboratories reported an increase in revenue and profit for the quarter ended September 30, 2025. The company’s revenue increased to PKR 6.90 billion compared to PKR 6.29 billion in the same quarter last year. Profit after tax rose to PKR 730.45 million from PKR 789.23 million. Despite the revenue and profit increase, the company declared no cash dividend, bonus shares or right shares, which may disappoint some investors.

Signal: HOLD ⏸️
Strength: 6/10
Sentiment: POSITIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 💰 Revenue increased by 9.84% to PKR 6,903.75 million for the three months ended September 30, 2025, compared to PKR 6,285.30 million in the corresponding period of 2024.
  • 📈 Gross profit increased by 18.30% to PKR 3,771.96 million for the three months ended September 30, 2025, compared to PKR 3,188.04 million in the corresponding period of 2024.
  • 💼 Profit from operations increased by 14.98% to PKR 1,165.31 million for the three months ended September 30, 2025, compared to PKR 1,014.16 million in the corresponding period of 2024.
  • 💸 Profit before income tax and final tax increased by 13.17% to PKR 1,218.40 million for the three months ended September 30, 2025, compared to PKR 1,076.27 million in the corresponding period of 2024.
  • ✅ Earnings per share (basic and diluted) increased to PKR 13.79 for the three months ended September 30, 2025, compared to PKR 14.90 in the corresponding period of 2024.
  • 📊 For the nine months ended September 30, 2025, revenue from contracts with customers- net increased to PKR 20,303.54 million from PKR 18,323.93 million in 2024.
  • 💹 Gross profit for the nine months ended September 30, 2025, increased to PKR 11,198.36 million from PKR 9,165.28 million in 2024.
  • 📉 Profit from operations for the nine months ended September 30, 2025, increased to PKR 4,015.25 million from PKR 3,224.86 million in 2024.
  • ✔️ Profit after tax for the nine months ended September 30, 2025, increased to PKR 2,680.55 million from PKR 2,395.86 million in 2024.
  • 🧾 The company has authorized share capital of PKR 1,000,000,000 with issued, subscribed, and paid up share capital reserves of PKR 529,833,630.
  • 🏢 Total equity increased to PKR 12,356.35 million as of September 30, 2025, compared to PKR 11,795.13 million as of December 31, 2024.
  • 🏦 Total assets increased to PKR 18,054.41 million as of September 30, 2025, compared to PKR 17,230.96 million as of December 31, 2024.
  • 🚫 No cash dividend, bonus shares, or right shares were recommended by the Board of Directors for this quarter.

🎯 Investment Thesis

HOLD. Highnoon Laboratories shows positive financial performance with increased revenue and profit. However, the absence of dividends and potential market risks suggest a cautious approach. A HOLD recommendation is appropriate until further information on the company’s future plans and market conditions is available.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

⏸️ UNITY: HOLD Signal (6/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Unity Foods Limited’s financial results for the quarter ended September 30, 2025, reveal a mixed performance. The company reported a net profit of PKR 95.973 million, a significant improvement compared to the loss of PKR 141.145 million in the same period last year. However, turnover decreased to PKR 9,348.884 million from PKR 12,925.408 million in 2024. The company declared no cash dividend, bonus shares, or right shares for the quarter. The results suggest improved profitability despite lower revenue, indicating better cost management or operational efficiency.

Signal: HOLD ⏸️
Strength: 6/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • ✅ Revenue decreased to PKR 9,348.884 million from PKR 12,925.408 million in Q3 2024.
  • ⬆️ Net profit stood at PKR 95.973 million, compared to a loss of PKR 141.145 million in Q3 2024.
  • 💲 Earnings per share (EPS) is PKR 0.08, improved from a loss of PKR 0.12 in Q3 2024.
  • 📉 Gross profit decreased to PKR 1,099.185 million from PKR 1,828.099 million year-over-year.
  • 📊 Operating profit decreased to PKR 1,489.144 million from PKR 1,620.970 million year-over-year.
  • 🏦 Finance cost decreased to PKR 1,254.854 million from PKR 1,592.261 million year-over-year.
  • 🚫 No cash dividend was recommended for the quarter.
  • 🚫 No bonus shares were recommended for the quarter.
  • 🚫 No right shares were recommended for the quarter.
  • 👍 Total assets increased slightly to PKR 83,802.691 million from PKR 83,560.500 million since June 30, 2025.
  • 💰 Cash and bank balances decreased to PKR 1,798.189 million from PKR 9,132.874 million since June 30, 2025.
  • 🧾 Trade debts increased to PKR 23,285.530 million from PKR 21,722.291 million since June 30, 2025.

🎯 Investment Thesis

Given the mixed performance, a HOLD recommendation is appropriate. The improved profitability is encouraging, but the revenue decline and liquidity concerns warrant caution. A BUY signal could be considered if the company demonstrates consistent revenue growth and improved cash flow management in subsequent quarters. A SELL signal might be warranted if revenue continues to decline and liquidity worsens. Price target will be based on discounted cash flow analysis when more information is available. The time horizon is medium-term (6-12 months) to assess the company’s ability to sustain profitability and improve revenue growth.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025