Strength-6 - FoxLogica

⏸️ UNIC: HOLD Signal (6/10) – Transmission of Quarterly Report for the Period Ended 2025-09-30

⚡ Flash Summary

The United Insurance Company of Pakistan Ltd. reported its 3rd Quarter 2025 results, showcasing a mixed performance. Gross written premium for the conventional business decreased to Rs. 5,618.88 million from Rs. 6,021.76 million in 2024, while net premium income increased to Rs. 3,123.641 million from Rs. 2,886.121 million. Profit before tax decreased to Rs. 1,014.529 million from Rs. 1,244.086 million, and earnings per share (EPS) fell to Rs. 2.13 from Rs. 2.52. Despite a challenging economic environment, the company demonstrated stability and improved underwriting results, while also experiencing growth in its Takaful operations investment income.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Gross written premium for conventional business decreased to Rs. 5,618.88 million in 2025 vs. Rs. 6,021.76 million in 2024.
📈 Net premium income for conventional business increased to Rs. 3,123.641 million in 2025 vs. Rs. 2,886.121 million in 2024.
💰 Profit before tax decreased to Rs. 1,014.529 million in 2025 vs. Rs. 1,244.086 million in 2024.
💲 Earnings per share (EPS) decreased to Rs. 2.13 in 2025 vs. Rs. 2.52 in 2024.
🔥 Underwriting results improved to Rs. 1,180.948 million in 2025 vs. Rs. 1,055.361 million in 2024.
💸 Management expenses increased to Rs. 1,095.405 million in 2025 vs. Rs. 1,057.026 million in 2024.
🤝 Written gross contribution for Window Takaful decreased to Rs. 1,400.690 million in 2025 vs. Rs. 1,663.904 million in 2024.
🚀 Investments income of Participants Takaful fund increased to Rs. 20.948 million in 2025 vs. Rs. 15.660 million in 2024.
📊 Investments income of the Operator’s fund increased to Rs. 36.365 million in 2025 vs. Rs. 22.642 million in 2024.
📈 General, administrative and management expenses of the operator increased to Rs. 493.648 million in 2025 vs. Rs. 433.577 million in 2024.
⭐ Total assets increased to Rs. 16,558.890 million in 2025 vs. Rs. 16,053.484 million in 2024.
Equity increased to Rs. 6,281.641 million vs. Rs. 5,436.030 million

🎯 Investment Thesis

HOLD. The mixed performance in 3Q25, with declining premiums and EPS but improved underwriting results and investment income, suggests caution. While the company shows stability and growth in certain areas, declining profitability is a concern. A hold is warranted until there is clearer evidence of sustained improvement in key financial metrics and a stabilization of premium income.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements ATLAS-FUNDS Signal: HOLD

⏸️ ATLAS-FUNDS: HOLD Signal (6/10) – Financial Results of AMF, ALF, ASF, AIF, ASMF, AIMF, AICF, AIIF, AISF, AIFOF and AIDSF for the period ended September 30, 2025

⚡ Flash Summary

Atlas Asset Management Limited has announced the financial results for its various funds for the period ended September 30, 2025. The announcement covers eleven funds: Atlas Money Market Fund (AMF), Atlas Liquid Fund (ALF), Atlas Sovereign Fund (ASF), Atlas Income Fund (AIF), Atlas Stock Market Fund (ASMF), Atlas Islamic Money Market Fund (AIMF), Atlas Islamic Cash Fund (AICF), Atlas Islamic Income Fund (AIIF), Atlas Islamic Stock Fund (AISF), Atlas Islamic Fund of Funds (AIFOF), and Atlas Islamic Dedicated Stock Fund (AIDSF). Each fund’s detailed financial results are annexed to the announcement. Distribution details are not provided for all the funds, with a ‘NIL’ distribution indicated for some.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

💰 Atlas Money Market Fund (AMF) reported total income of PKR 1,368.03 million compared to PKR 1,466.98 million in 2024.
💧 Atlas Liquid Fund (ALF) saw total income increase to PKR 361.22 million from PKR 222.84 million in the previous year.📈
👑 Atlas Sovereign Fund (ASF) witnessed a decrease in total income to PKR 69.58 million from PKR 1,095.02 million in 2024.📉
💸 Atlas Income Fund (AIF) experienced a decrease in total income to PKR 256.25 million from PKR 613.86 million.📉
📈 Atlas Stock Market Fund (ASMF) significantly increased its total income to PKR 10,256.95 million from PKR 898.42 million.🚀
🌙 Atlas Islamic Money Market Fund (AIMF) showed a decrease in total income to PKR 229.77 million from PKR 320.04 million.📉
🌙 Atlas Islamic Cash Fund (AICF) reported total income of PKR 28.69 million, compared to PKR 31.76 million for the period from July 03, 2024 to September 30, 2024.
🌙 Atlas Islamic Income Fund (AIIF) total income decreased to PKR 116.91 million from PKR 124.16 million.📉
🌙 Atlas Islamic Stock Fund (AISF) reported a total income of PKR 3,411.93 million compared to PKR 165.24 million in 2024.🚀
✨ Atlas Islamic Fund of Funds (AIFOF) reported net income for the period before taxation of PKR 89.71 million for Aggressive Allocation Islamic Plan.
✨ Atlas Islamic Fund of Funds (AIFOF) reported net income for the period before taxation of PKR 71.28 million for Moderate Allocation Islamic Plan.
✨ Atlas Islamic Fund of Funds (AIFOF) reported net income for the period before taxation of PKR 42.82 million for Conservative Allocation Islamic Plan.
🌙 Atlas Islamic Dedicated Stock Fund (AIDSF) reported a total gain for the period of PKR 265.91 million compared to PKR 14.63 million in 2024.🚀
⚠️ Expenses for Atlas Money Market Fund (AMF) were PKR 64.55 million, lower than the PKR 72.05 million in the corresponding period.
💸 The financial results provided are for the quarter ended September 30, 2025, and comparative figures are provided for the quarter ended September 30, 2024, where available.

🎯 Investment Thesis

Given the mixed performance across the fund offerings, an investment recommendation needs a fund-specific assessment. Funds like ASMF and AISF with substantial income growth appear promising. However, more information is needed before making a firm recommendation. Currently, a ‘HOLD’ recommendation is warranted for Atlas Asset Management’s funds in general until further analysis of individual fund strategies, asset allocations, and risk-adjusted returns is completed.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements BNL Signal: HOLD

⏸️ BNL: HOLD Signal (6/10) – Financial Results for the Quarter Ended

⚡ Flash Summary

Bunny’s Limited reported its financial results for the first quarter ended September 30, 2025. The company’s revenue increased year-over-year, but profitability metrics showed mixed results. While operating profit and profit before taxation increased, the profit after taxation saw a significant rise as well. The company declared no cash dividend, bonus shares, or right shares for the quarter.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Revenue increased from PKR 1,800.39 million to PKR 2,012.18 million, a 11.76% increase.
💰 Gross profit increased from PKR 452.28 million to PKR 598.02 million, a 32.22% increase.
⚠️ Operating expenses increased from PKR 318.97 million to PKR 363.53 million, a 13.97% increase.
✨ Operating profit increased significantly from PKR 133.30 million to PKR 234.49 million, a 75.92% increase.
💸 Finance costs decreased from PKR 59.59 million to PKR 32.65 million, a 45.21% decrease.
📊 Profit before taxation increased significantly from PKR 70.39 million to PKR 189.91 million, a 169.81% increase.
✅ Profit after taxation increased substantially from PKR 30.13 million to PKR 162.13 million, a 438.19% increase.
⭐ Earnings per share (EPS) increased from PKR 0.45 to PKR 2.43.
🏛️ Total assets increased from PKR 4,729.36 million to PKR 4,942.39 million, a 4.50% increase.
🏦 Cash and bank balances decreased from PKR 35.22 million to PKR 28.75 million.
🚫 No cash dividend, bonus shares, or right shares were declared.

🎯 Investment Thesis

Given the improved financial performance, particularly the increase in EPS and overall profitability, a HOLD recommendation is justified. However, further observation is warranted due to the decreased cash reserves. Any significant shifts in market dynamics or financial performance should be monitored. The decreased cash position needs further evaluation before considering a buy.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements BFBIO Signal: HOLD

⏸️ BFBIO: HOLD Signal (6/10) – Transmission of Quarterly Financial Statements for the Period Ended 30-09-2025

⚡ Flash Summary

BFBIO’s Q3 2025 results show significant revenue growth, increasing by 75% compared to the same period last year, reaching Rs. 2,432 million. This growth is driven by strong performance in both in-market generic sales and institutional sales, attributed to increased volume from existing and new products after expanding commercial operations. Gross profit margin also improved, climbing to 43% due to changes in sales mix and better capacity utilization. Despite increased selling and distribution expenses, the company achieved a profit after tax of Rs. 160 million, representing a 38% increase; however, EPS saw a marginal decline due to an increase in the weighted average number of shares post-IPO.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Revenue surged by 75%, reaching Rs. 2,432 million compared to Rs. 1,386 million in Q3 2024.
💊 In-market generic sales grew by 57% year-over-year.
🏥 Institutional sales experienced a substantial increase of 209%.
🏭 Line II commercial operations significantly contributed to volume growth.
💰 Gross profit margin improved from 41% to 43%.
🚀 Selling and distribution expenses increased by 133% to support topline growth.
🏢 Administrative expenses rose by Rs. 28 million due to salaries and inflation.
✅ Profit after tax increased by 38%, reaching Rs. 160 million compared to Rs. 115 million.
📉 Earnings per share (EPS) slightly decreased to Rs. 1.81 from Rs. 1.82.
📃 Weighted average number of shares increased to 88.3 million from 63.3 million post-IPO.
🏭 Increased capacity utilization led to better absorption of factory overheads.
🌱 Company listed on the Pakistan Stock Exchange on October 21, 2024.

🎯 Investment Thesis

Based on the Q3 2025 results, a HOLD recommendation is appropriate. While the company demonstrates strong revenue growth and improved gross profit margin, the increased operating expenses and EPS dilution raise concerns. The potential for continued growth in sales volume and effective cost management could drive future profitability. Before upgrading to a BUY, further evidence of sustained EPS growth and improved operational efficiencies are needed. Before downgrading to SELL, cost control and EPS dilution need to be closely monitored.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements CRTM Signal: HOLD

⏸️ CRTM: HOLD Signal (6/10) – Transmission of Quarterly Report for the Period Ended September 30, 2025

⚡ Flash Summary

Crescent Textile Mills Limited (CRTM) reported results for the first quarter ended September 30, 2025. The company experienced revenue growth primarily due to a change in strategy focused on attracting value-added business with better margins. The loss after tax significantly decreased due to improved gross margins and reduced finance costs. Despite prevailing challenges like depressed demand and high energy costs, the company is optimistic about future sustainability and growth through new customers, markets, and investments in green energy.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Revenue increased by 21% to PKR 4,840 million in Q1 2026 from PKR 3,991 million in Q1 2025.
💰 Cost of sales increased by 22% to PKR 4,249 million in Q1 2026.
✅ Gross profit increased by 14% to PKR 591 million in Q1 2026.
🚚 Distribution costs increased by 25% to PKR 231 million.
🏢 Administrative expenses increased by 14% to PKR 137 million.
📉 Finance cost decreased by 43% to PKR 215 million.
✅ Loss after tax significantly decreased by 85% to PKR 26 million.
⚠️ Depressed demand and pressure on sales prices remain significant challenges.
🌱 The company is focused on tapping into new customers and markets.
🔋 Investments in green energy are underway to reduce energy costs.
🤝 The Board acknowledged the management’s hard work and the contributions of all stakeholders.
📊 Basic and diluted loss per share improved to (0.26) rupees compared to (1.66) rupees in the same quarter last year.
💵 Cash generated from operations decreased from 368.169 million to 19.168 million, signaling a worrying trend

🎯 Investment Thesis

HOLD. While the company has shown improvement in revenue and reduced losses, persistent challenges and a negative EPS necessitate a cautious approach. A ‘Hold’ rating is justified until sustained profitability is demonstrated, and the effectiveness of cost optimization and green energy initiatives is confirmed. There is uncertainty that must be resolved before recommending a buy.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements Signal: HOLD

⏸️ FHAM: HOLD Signal (6/10) – Transmission of Quarterly Financial Statements for the Period Ended September 30, 2025

⚡ Flash Summary

First Habib Modaraba (FHM) reported satisfactory performance for the quarter ended September 30, 2025. Disbursements increased to Rs.5.230 billion compared to Rs.3.895 billion in the same quarter last year. The balance sheet also saw growth, reaching Rs.36.081 billion compared to Rs.28.195 billion. Despite a reduction in policy rates, the Modaraba managed to sustain profitability through enhanced business volumes and a focused business strategy. The report acknowledges challenges in the economic environment, including potential pressures on profitability due to declining policy rates, but expresses confidence in maintaining growth momentum through prudent financial management.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

👍 Disbursements increased to Rs.5.230 billion, up from Rs.3.895 billion in the same quarter last year.
📈 Balance sheet footing reached Rs.36.081 billion, a significant increase from Rs.28.195 billion year-over-year.
💰 Maintained profitability despite a reduction in policy rates, indicating efficient management.
🎯 Focused business strategy and dedicated efforts are cited as key drivers for volume enhancement.
⚠️ Economic outlook for Pakistan is mixed, with challenges from floods, low industrial growth, and inflation.
📉 World Bank revised Pakistan’s GDP growth rate projection downward to 2.60% for fiscal year 2025-26.
🏦 State Bank of Pakistan kept the policy rate unchanged at 11% in September 2025.
🌍 External account faces renewed pressure due to a widened current account deficit.
🛡️ Maintained long-term credit rating at AA+ and short-term credit rating at A1+ by PACRA.
📊 FHM recognized as market leader with a diversified portfolio of Shariah-compliant products.
⏳ Challenging economic environment foreseen, potentially disturbing business activities and investor confidence.
📉 Anticipate pressure on profitability of FHM in FY2025-26 due to decline in policy rate.
🙏 Expressed gratitude to regulators, customers, and employees for their support and dedication.
🤝 Acknowledged smooth operations and satisfactory results achieved in a difficult business environment.
🏢 Geographical presence includes branches in Karachi, Lahore, Islamabad and Multan

🎯 Investment Thesis

HOLD recommendation for First Habib Modaraba (FHM) due to mixed performance. While disbursements and balance sheet size have increased, profit after tax decreased slightly and the economic outlook for Pakistan is uncertain. The company’s strong credit ratings and market position provide stability, but potential pressures on profitability warrant a cautious approach. Price target is maintained at current levels due to balanced growth and risk factors.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements BWCL Signal: HOLD

⏸️ BWCL: HOLD Signal (6/10) – Transmission of Quarterly Financial Statements for the Period Ended September 30, 2025

⚡ Flash Summary

Bestway Cement Limited (BWCL) reported its Q1 2025-26 results, showing a mixed performance. While revenue increased slightly, gross profit declined. The company maintained its position as the largest cement producer in Pakistan. BWCL declared an interim cash dividend of 100%, reflecting confidence in its financial position. Despite industry challenges and border issues with Afghanistan impacting exports, BWCL has maintained financial and operational resilience.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

1. Cement dispatches grew by 16.5%, slightly higher than the industry’s 16.3% increase. 📈
2. Gross turnover increased by 8% to Rs. 41.2 billion compared to Rs. 38.2 billion last year. 💰
3. Net turnover increased by 4% to Rs. 25.9 billion, driven by higher sales volumes. 📊
4. Gross profit decreased to Rs. 7.2 billion from Rs. 8.1 billion in the same quarter last year. 📉
5. Financial charges decreased to Rs. 1.4 billion from Rs. 2.5 billion due to lower interest rates. 📉
6. Profit before tax increased to Rs. 8.2 billion compared to Rs. 6.2 billion last year. 👍
7. Profit after tax increased to Rs. 5.5 billion from Rs. 4.1 billion. 🎉
8. Earnings per share (EPS) increased to Rs. 9.22 from Rs. 6.81. 🚀
9. Declared an interim cash dividend of 100%. 💸
10. Spent over Rs. 46 million on CSR initiatives. 💖
11. Domestic cement dispatches increased by 15.1% to 9.57 million tonnes. 🏘️
12. Export volumes grew by 20.9% to 2.59 million tonnes. 🚢
13. Finance cost decreased from Rs. 2,446.933 million to Rs. 1,405.085 million. 📉
14. Clinker production increased by 10.2% to 1,450,667 tonnes. 🏭
15. Cement production increased by 15.6% to 1,719,282 tonnes. 🧱

🎯 Investment Thesis

A HOLD rating is appropriate for BWCL. While the increased EPS and dividend are positive, the decline in gross profit and external risks create uncertainty. The company’s leading position in the cement industry and efforts towards green energy are encouraging, but current market conditions and financial pressures warrant caution. Further observation of operational performance and mitigation of risks is necessary before considering a BUY recommendation.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements MARI Signal: HOLD

⏸️ MARI: HOLD Signal (6/10) – MARI | Mari Energies Limited Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

Mari Energies Limited (MARI) reported its financial results for the quarter ended September 30, 2025. The company achieved net sales of Rs. 45.4 billion and a net profit of Rs. 15.6 billion, resulting in an EPS of Rs. 13.03 per share. Profitability was impacted by additional 15% wellhead payments on the Mari Field since November 2024. Despite this and some curtailment, MARI demonstrated resilience.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

1. 💰 Net Sales: Rs. 45.4 billion for Q1 2025-26.
2. 📉 Net Profit: Rs. 15.6 billion for Q1 2025-26.
3. ℹ️ EPS: Rs. 13.03 per share for Q1 2025-26.
4. ⚠️ Impact: Profit impacted by additional 15% wellhead payments.
5. 🏭 Operational Resilience: Company demonstrated resilience despite curtailment.
6. ❌ Cash Dividend: NIL.
7. ❌ Bonus Shares: NIL.
8. ❌ Right Shares: NIL.
9. ⬆️ Gross Sales: Increased from Rs. 51.203 billion to Rs. 51.409 billion.
10. ⬇️ Profit before taxation decreased from Rs. 29.128 billion to Rs. 23.051 billion.

🎯 Investment Thesis

Based on the current results, a HOLD recommendation is appropriate. The company has demonstrated resilience, but the increased wellhead charges are significantly impacting profitability. Price target should be reevaluated based on future earnings potential, with increased wellhead charges and oil prices considered. Time horizon: Medium Term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements BFAGRO Signal: HOLD

⏸️ BFAGRO: HOLD Signal (6/10) – Transmission of Quarterly Report for the Period Ended 30-09-2025

⚡ Flash Summary

Barkat Frisian Agro Limited (BFAGRO) reported net sales of Rs. 1,878 million for the quarter ended September 30, 2025, a 10% increase compared to Rs. 1,713 million in the same period last year, driven by stable production, market demand, and effective sales execution. Profit after tax (PAT) increased by 33% to Rs. 161.17 million, compared to Rs. 121.54 million in the previous year, primarily due to higher other income and a reduction in finance costs. Earnings per share (EPS) decreased to Rs. 0.52 from Rs. 1.35 due to an increase in share capital. Management is focused on backward integration to reduce dependency on external suppliers.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Sales increased by 10% to Rs. 1,878 million compared to the same quarter last year.
💰 Gross profit increased to Rs. 235 million from Rs. 224 million year-over-year.
🥚 Gross profit margins slightly declined by 0.6% due to rising costs of shell eggs.
⚙️ Operating profit improved to Rs. 171.31 million, up from Rs. 151.25 million.
💸 Profit before tax rose to Rs. 160.47 million from Rs. 122.03 million.
✅ Profit after tax (PAT) increased by approximately 33% to Rs. 161.17 million.
📉 Earnings Per Share (EPS) decreased to Rs. 0.52 from Rs. 1.35 due to increased share capital.
💵 Finance costs significantly reduced to Rs. 10.84 million from Rs. 29.23 million.
🔄 The company is actively pursuing backward integration to stabilize input costs.
📊 Total Equity and Liabilities increased to Rs. 3,893.28 million from Rs. 3,841.82 million.
🏢 Non-Current Assets increased to Rs. 1,208.66 million from Rs. 826.77 million.
💰 Current Assets decreased to Rs. 2,684.62 million from Rs. 3,015.05 million.
🤝 The company is expanding capacity, improving efficiency, and strengthening its supply chain.

🎯 Investment Thesis

Given the company’s strong top-line growth and improvements in profitability, but a diluted EPS, a HOLD recommendation is appropriate. BFAGRO is executing well on its operational strategy, but the impact of increased share capital needs to be monitored closely.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements FCEPL Signal: HOLD

⏸️ FCEPL: HOLD Signal (6/10) – Transmission of 3rd Quarterly Report for the Period Ended September 2025

⚡ Flash Summary

FrieslandCampina Engro Pakistan Limited (FCEPL) reported a 2.8% YoY decrease in revenue for the nine months ended September 30, 2025, totaling PKR 80.232 billion compared to PKR 82.512 billion in the same period last year. Despite the revenue decline, the company improved its gross margins by 130 bps through cost rationalization and a better product mix, leading to a PKR 1 billion increase in operating profit. The Frozen Dessert segment saw a 15% value growth, while the Dairy-based products segment experienced a 5% decline due to the impact of sales tax on UHT milk. The company continues to engage with stakeholders to address the challenges posed by the 18% sales tax on packaged milk.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Revenue decreased by 2.8% YoY, from PKR 82.512 billion to PKR 80.232 billion.
📈 Gross margins improved by 130 bps due to cost rationalization and better product mix.
⬆️ Operating profit increased by PKR 1 billion compared to the same period last year.
🥛 Dairy-based products segment revenue declined by 5% to PKR 69.9 billion due to sales tax on UHT milk.
🍦 Frozen Desserts segment achieved a 15% value growth, generating PKR 10.4 billion in revenue.
Campaign launched to strengthen brand purity credentials in the Dairy-based products segment.
Focus on Olper’s Cream and Flavored milk delivered volume growth despite competition.
Packaged milk category remains in decline post the imposition of sales tax.
Company focusing on execution and partially gaining back volumes and growing market share.
Company is engaging with stakeholders to provide a more equitable environment for the formal Dairy Industry.
Earnings per share increased to Rs. 2.73 from Rs. 2.63

🎯 Investment Thesis

Given the revenue decline and regulatory challenges, but also the improved margins, a HOLD recommendation is appropriate. There is no provided information on the price target.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

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