Strength-6 - FoxLogica

⏸️ ENGROH: HOLD Signal (6/10) – Analyst Briefing for Q3, 2025- Presentation

⚡ Flash Summary

Engro Holdings Limited’s Q3 2025 analyst briefing reveals a year of strategic restructuring, including the integration of Deodar into ECPL, increasing tower sites. The group’s performance is influenced by macroeconomic progress under the IMF program. Key achievements include fertilizer sales and domestic PVC volume improvements. Profitability is affected by adjustments in thermal energy assets and changes in ownership percentages.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

1. Real GDP grew by approximately 2.68% in FY2025, falling short of the government’s 3.6% target 📈.
2. Monetary policy rate remains stable at 11.0%, with Pakistan’s rating upgraded to Caa1 by Moody’s 📊.
3. IMF agreement reached for $1.2 billion, raising disbursements to about $3.3 billion💰.
4. Headline Inflation increased to 5.6% in September 2025 due to high food prices 📈.
5. KSE-100 index hit an all-time high of 165,000 points in September, a 104% gain since September 2024 🚀.
6. On January 1, 2025, scheme of arrangement increased owner’s share reflects 100% ownership interest in ECORP 🤝.
7. Termination of SPAs reclassified assets, with a profit after tax of PKR 86,152 million 🎉.
8. The consolidated EPS has been tabulated by dividing the profit attributable to owners with increased number of shares ➗.
9. Deodar integration into ECPL increased tower sites by 10,617 🗼.
10. Consolidated revenue reached PKR 407 billion, against PKR 381 billion last year 👍.
11. Profitability was PKR 86.2 billion against PKR 24.3 billion last year ⭐.
12. EPS at PKR 34.89, increased from PKR 13.21 last year 💪.
13. Standalone dividend income decreased to PKR 537 million, from PKR 5,274 million last year 📉.
14. Fertilizer business delivered urea sales of 1,280 KT, down from 1,379 KT 🚜.
15. Polymer business delivered 174 KT domestic PVC, up from 146KT last year 🧪.

🎯 Investment Thesis

HOLD. Engro Holdings has demonstrated growth and restructuring, but faces external risks and profitability constraints in some sectors. While some indicators are positive, macroeconomic risks and varying sector performances suggest caution. Further analysis needed to provide an accurate price target.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

ABL-FUNDS announcements Signal: HOLD

⏸️ ABL-FUNDS: HOLD Signal (6/10) – ABL Islamic Stock Fund- Quarterly Financial Statements for the quarter ended September 30, 2025.

⚡ Flash Summary

ABL Islamic Stock Fund (ABLISF) reported its quarterly financial statements for the period ended September 30, 2025. The fund’s AUM increased significantly by 45.83% to PKR 4,568.21 million, compared to PKR 3,132.41 million in the previous quarter. The fund posted a return of 27.79%, underperforming against the benchmark return of 33.20%. The management quality rating was assigned ‘AM1’ by PACRA. The equity market experienced a rally, but recent floods could cause a rise in inflation.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 AUM increased by 45.83% QoQ, reaching PKR 4,568.21 million.
📉 Fund return of 27.79% underperformed the benchmark return of 33.20%.
⭐ Management Quality Rating (MQR) affirmed at ‘AM1’ by PACRA.
✔️ The KMI-30 index saw a rally, rising 33.2% QoQ.
✔️ Investor confidence improved due to credit rating upgrades by S&P and Moody’s.
✔️ SBP reported a record profit of PKR 2.5 trillion.
✔️ The fiscal deficit stood at 5.4% of GDP.
✔️ FX reserves averaged USD 14.4 billion.
⚠️ Market faced foreign outflows of USD 132 million.
⚠️ New fiscal measures included PKR 340 billion in extra taxes and fuel price hikes.
⚠️ FBR revenue missed targets by PKR 200 billion.
⚠️ Inflation averaged 4.2% YoY.
⚠️ Recent floods across the country could contribute to a rise in inflation.

🎯 Investment Thesis

HOLD. The ABL Islamic Stock Fund has demonstrated significant AUM growth, reflecting investor confidence, but the underperformance against its benchmark warrants a hold rating. The potential inflationary pressure could dampen future returns. More analysis is needed.

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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) – Transmission of Quarterly Report for the Period Ended September 30, 2025

⚡ Flash Summary

Atlas Money Market Fund (AMF) reports an increase in Net Asset Value per unit by 2.60% to Rs. 525.91 as of September 30, 2025, outperforming the benchmark of 10.66%. The fund maintains a high allocation in Treasury Bills, Bank Balances, and Placements, ensuring attractive returns and high liquidity for investors. Despite a 4% dip in Total Income, AMF successfully managed expenses and maintained growth. The net assets of the Fund stands at Rs. 55.79 billion with 106.08 million units outstanding.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: POSITIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

✅ NAV per unit increased by 2.60% to Rs. 525.91.
👍 Annualized return is 10.32%.
✔️ Benchmark was 10.66%.
🏦 Exposure: Treasury Bills (69.17%), Bank Balances (20.51%), Placements (9.75%).
💧 High liquidity maintained.
💰 Net Assets: Rs. 55.79 billion.
📈 Units Outstanding: 106.08 million.
🔻 Total Income decreased from Rs 1,466,982,805 to Rs 1,368,033,772.
💼 Management fee slightly decreased from Rs 47,807,049 to Rs 39,835,203.
✔️ PACRA rating is AM2++.
✔️ PACRA stability rating is AA+ (f).

🎯 Investment Thesis

HOLD. While the fund demonstrates good performance in terms of NAV growth and maintains a high degree of liquidity, the decrease in overall income merits a neutral recommendation. A significant change to the financial and investing reports would be needed to consider a new signal. Price target is around Rs 525.91

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

ABL-FUNDS announcements Signal: HOLD

⏸️ ABL-FUNDS: HOLD Signal (6/10) – ABL Special Savings Fund- Quarterly Financial Statements for the quarter ended September 30, 2025.

⚡ Flash Summary

ABL Special Savings Fund (ABL-SSF) reported its quarterly financial statements for the period ending September 30, 2025. The report includes the economic performance review, noting Pakistan’s economy is building on stabilization with inflation trending lower, though some pressures are building in the quarterly trend. Fiscal collections are holding steady, but are missing targets, while remittances continue to provide crucial support. Despite these challenges, market sentiment improved during the quarter, aided by sovereign rating upgrades and proactive debt management.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Pakistan’s inflation averaged 4.2% YoY, with a September CPI of 5.6% YoY.
🏭 Large-scale manufacturing output rose 8.99% YoY in July 2025.
💰 FBR collected Rs 2.86 trillion in 1QFY26, falling short of targets by Rs 198-200 billion.
📊 Exports totaled US$5.3bn (+10% YoY), while imports were US$10.4bn (+9% YoY).
💸 Workers’ remittances stood at US$6.35bn (+7% YoY).
deficit to US$624mn in the first two months of FY26.
💵 Net financial inflows were US$563mn, driven by government borrowings.
📉 FDI remained modest at US$323mn (-34% YoY), and portfolio flows showed outflows of US$83mn.
🏦 Liquid FX reserves stood near US$19.8bn by September.
⬆️ S&P upgraded Pakistan’s rating in July 2025, followed by Moody’s in August.
🏦 State Bank of Pakistan (SBP) maintained its policy rate at 11.00% throughout the quarter.
💰 AUMs increased by 14.5% in Conventional Income Funds and 4.1% in Conventional Money Market Funds.

🎯 Investment Thesis

HOLD. Given the mixed economic signals (lower inflation but missed fiscal targets) and the fund’s performance (underperforming benchmarks in most plans), a HOLD recommendation is appropriate. While market sentiment improved, vulnerabilities remain. Further monitoring is warranted to assess the sustainability of the economic recovery and the fund’s ability to deliver competitive returns.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

ABL-FUNDS announcements Signal: HOLD

⏸️ ABL-FUNDS: HOLD Signal (6/10) – ABL Islamic Sovereign Fund- Annual Financial Statements for the year ended September 30, 2025.

⚡ Flash Summary

ABL Islamic Sovereign Fund (ABL ISSF) reported its unaudited financial results for the quarter ended September 30, 2025. The fund’s performance is influenced by Pakistan’s economic stabilization, with inflation trending lower and resilient remittances. The fund posted an annualized return of 10.25% against a benchmark return of 9.95%. The fund’s asset allocation majorly comprised of 90.12% in Government Guaranteed Securities and 6.29% as Cash.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🇵🇰 Pakistan’s economy continues stabilization; inflation averages 4.2% YoY for the quarter.
💹 Large-scale manufacturing shows tentative recovery, LSM output rises 8.99% YoY in July 2025.
⚠️ Fiscal collections miss quarterly target by ~Rs 198-200 billion despite enforcement efforts.
💼 Mutual fund industry AUMs grow 7.81% YTD, rising from PKR 3,833 billion to PKR 4,132 billion.
💰 Islamic equity funds display strong growth, rising 27.3% from PKR 141 billion to PKR 180 billion.
🏦 SBP maintains policy rate at 11.0% throughout the quarter.
💵 SBP’s FX reserves stand at USD 14.4 billion as of September 22, 2025.
📈 ABL Islamic Sovereign Plan 1 posts an annualized return of 10.25% vs. 9.95% benchmark.
🛡️ Fund allocation: 90.12% in Government Guaranteed Securities, 6.29% in Cash.
✔️ The fund size clocked in at PKR 1,145.95 million as of September 2025.
🔍 Management quality rating (MQR) of ABL AMC affirmed at ‘AM1’ with ‘Stable’ outlook by PACRA.
🌐 Foreign exchange reserves reached $19.79 billion by mid-September.
Sukuk auctions were rescheduled amid market adjustments.

🎯 Investment Thesis

Given the fund’s stable management, sound asset allocation, and positive returns exceeding the benchmark, a HOLD recommendation is warranted. However, keep a close watch on performance to be able to switch to a BUY signal. The current allocation is mostly into Government Guaranteed Securities, so any shift in focus to another asset class or cash might need to be looked at.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements MZNPETF Signal: HOLD

⏸️ MZNPETF: HOLD Signal (6/10) – Quarterly Report of Meezan Pakistan Exchange Traded Fund under management of Al Meezan Investment Management Limited for the quarter ended September 30, 2025

⚡ Flash Summary

The Quarterly Report of Meezan Pakistan Exchange Traded Fund (MZNPETF) for the quarter ended September 30, 2025, reveals a strong performance driven by positive economic indicators and market sentiment in Pakistan. The KSE100 and KM130 indices demonstrated impressive growth, reaching record levels. The fund size increased substantially driven by new unit issuance, while maintaining Shariah compliance. However, the fund’s returns slightly underperformed compared to its benchmark during this period.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 The KSE100 Index posted an impressive 32% return, positioning Pakistan as one of the top-performing markets globally.
💰 The AUM of the mutual fund industry surged by 10.2% to Rs. 4,197 billion.
⚖️ Shariah Compliant AUMs grew by 12.1% to Rs. 1,993 billion.
🥇 Al Meezan’s market share in the Mutual Funds industry stood at 15%.
🛡️ All Equity Funds, on average, underperformed the benchmark return of KSE Meezan Index (KMI 30) of 33.20%.
💸 Meezan Pakistan Exchange Traded Fund (MZNP-ETF) increased 116% to 640 million rupees.
📊 The net asset value (NAV) per unit at September 30, 2025 was Rs. 21.2679.
🏦 Pakistan recorded a current account surplus of USD 110 million in September 2025.
🤝 Pakistan and the United States announced a trade agreement aimed at boosting bilateral trade.
✅ Moody’s Ratings announced an upgrade for Pakistan’s local and foreign currency issuer and senior unsecured debt ratings to Caa1 from Caa2.
🤝The government signed an agreement for a massive financing facility with a consortium of commercial banks, aiming to resolve circular debt in the Power sector.

🎯 Investment Thesis

Based on current information, a ‘HOLD’ recommendation for MZNPETF is warranted. While the fund demonstrates strong growth and follows positive economic trends, there is indication of underperformance relative to the benchmark index. Furthermore, factors may lead to consolidation in the market. Therefore, retaining current position in MZNPETF is considered appropriate.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements POML Signal: HOLD

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

⚡ Flash Summary

Punjab Oil Mills Limited (POML) reported its financial results for the first quarter ended September 30, 2025. The company experienced a notable increase in net sales, reaching PKR 2,605.14 million compared to PKR 1,887.39 million in the same quarter last year. However, the company reports net profit of PKR 23.42 million compared to a net loss of PKR 22.74 million in the same quarter last year. The company did not declare any cash dividend, bonus shares, or right shares for the quarter.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Net sales increased to PKR 2,605.14 million, up from PKR 1,887.39 million year-over-year.
📊 Gross profit rose to PKR 275.40 million, compared to PKR 217.98 million in the previous year.
📉 Selling and distribution expenses increased to PKR 117.42 million from PKR 102.80 million year-over-year.
🏢 Administrative expenses decreased to PKR 72.48 million from PKR 90.87 million year-over-year.
💼 Operating profit increased significantly to PKR 85.49 million, compared to PKR 24.31 million in the same quarter last year.
💰 Finance costs decreased to PKR 26.11 million from PKR 41.64 million year-over-year.
📉 Other operating expenses increased to PKR 4.98 million from PKR 0.47 million year-over-year.
💸 Other income increased to PKR 2.30 million from PKR 18.67 million year-over-year.
✅ Profit before income tax increased to PKR 56.70 million from PKR 0.87 million year-over-year.
🧾 Income tax expense increased to PKR 33.28 million from PKR 23.61 million year-over-year.
✅ Net profit for the year is PKR 23.42 million, compared to a loss of PKR 22.74 million year-over-year.
📉 Loss / Earnings per share (basic and diluted) is PKR 3.02, compared to PKR -2.93 year-over-year.
❌ No cash dividend, bonus shares, or right shares were declared.
🌱 Total Equity increased to PKR 2,600.58 million as of September 30, 2025, from PKR 2,577.16 million as of June 30, 2025.
🏦 Cash and bank balances decreased to PKR 46.52 million from PKR 100.50 million from June 30, 2025.

🎯 Investment Thesis

HOLD. While the turnaround from a loss to a profit and substantial revenue growth are positive signs, the decreased cash balance and increased selling and distribution expenses raise concerns. A HOLD recommendation is appropriate until further quarters confirm sustainable profitability and efficient cash management. Price target will be re-evaluated after the next quarter’s results.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements EFUL Signal: SELL

📉 EFUL: 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 31st, 2025, EFU Life Assurance Ltd. disclosed a transaction by Saifuddin N. Zoomkawala, a Non-Executive Director, under PSX Regulation 5.6.4. The director sold 10,000 shares at a rate of PKR 151.16 per share on October 30, 2025. Following this transaction, Zoomkawala’s cumulative shareholding stands at 474,617 shares, representing 0.45% of the company. The shares were sold in the ‘Ready’ market through CDC certificates. This disclosure ensures transparency regarding the dealings of company insiders.

Signal: SELL 📉

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📅 Transaction Date: October 30, 2025.
👤 Person Involved: Saifuddin N. Zoomkawala, Non-Executive Director.
💼 Nature of Transaction: Sale of shares.
📉 Number of Shares Sold: 10,000 shares.
💲 Rate per Share: PKR 151.16.
📊 Market: Ready market.
📜 Form of Shares: CDC Certificates.
holding after transaction: 474,617 shares.
📉 Percentage Holding: 0.45% of the company.
regulatory compliance: transaction disclosed under PSX Regulation 5.6.4.
ℹ️ Disclosure Requirement: Company Secretary to present transaction at the next Board meeting.
⏳ Holding Period Rule: Transactions must comply with the holding period rules of over six months.
🚫 Restriction: No dealing in shares during closed periods by Directors/CEOs/Executives.
portal updates: Company to update details in the UIN Management System.

🎯 Investment Thesis

HOLD. While the insider selling is a slightly negative signal, the amount is small and does not warrant a strong sell recommendation. Further monitoring of insider transactions and company performance is advisable. A price target cannot be accurately determined without more information or financial data in this disclosure.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements CHCC Signal: HOLD

⏸️ CHCC: HOLD Signal (6/10) – Presentation – Corporate Briefing Session

⚡ Flash Summary

Cherat Cement Company Limited’s corporate briefing session for the year ended June 30, 2025, reveals a mixed performance. While the company experienced a slight decrease in overall industry dispatches by 0.5%, its total company dispatches decreased by 9%. However, the company has improved its EPS from 28.31 to 44.68, a 58% increase, driven by operational efficiencies and increased profitability due to alternate power options and focus on renewables.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Total Industry Dispatches saw a slight increase of 0.5%.
📉 Local Dispatches decreased by 5% from 38,185,002 to 36,293,663.
📈 Export Dispatches increased significantly by 30%, totaling 9,213,178.
📉 Total Company Dispatches (tons) declined by 9%.
📉 Local sales volume decreased by 10% from 2,221,187 to 1,995,003 tons.
📉 Export sales volume decreased slightly by 3% from 405,700 to 395,161 tons.
📉 Turnover-net decreased by 2% from 38,433,747 to 37,810,806.
📈 Gross profit increased by 18% from 11,840,386 to 13,969,625.
📈 Other Income increased significantly by 222% from 493,426 to 1,588,443.
📈 Operating profit increased by 27% from 10,609,162 to 13,478,636.
📈 Finance Cost decreased by 57% from 1,381,082 to 591,775.
📈 Profit before taxation increased by 40% from 9,228,080 to 12,886,861.
📈 Profit after tax increased significantly by 58% from 5,499,751 to 8,681,356.
📈 EPS increased from 28.31 to 44.68.
⚡️Total renewable energy capacity will stand at 45 MW. Includes WHR capacity at all cement lines is 21 MW and solar capacity is 24 MW.

🎯 Investment Thesis

HOLD. While the company has shown improved profitability and EPS growth, the slight decrease in revenue and overall dispatch volumes warrants a cautious approach. The significant increase in other income also needs further investigation to ascertain its sustainability. Price target: Maintain current levels, pending further stabilization and revenue growth.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

announcements FAYSAL-FUNDS Signal: HOLD

⏸️ FAYSAL-FUNDS: HOLD Signal (6/10) – Faysal Funds – Directors Report for the quarter ended September 30, 2025

⚡ Flash Summary

Faysal Funds’ Directors Report for the quarter ended September 30, 2025, reveals a resilient Pakistani economy despite flood impacts. The KSE-100 Index gained significantly, reflecting strong investor sentiment. The report details the performance of various Faysal Funds, with a mix of outperformance and underperformance against their benchmarks. Key macroeconomic indicators show some improvement, though challenges persist, particularly related to inflation and external debt.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🇵🇰 Pakistan’s economy showed resilience despite flood impact, with GDP growth target revised to 3.5% from 4.2%.
📈 Large-Scale Manufacturing (LSM) index grew by 8.93% YoY in July 2025.
⚠️ Current Account Deficit (CAD) recorded at approximately USD 624 million.
💰 Remittances grew by 7% YoY, reaching USD 6.35 billion.
📉 Headline inflation declined to 4.1% in July 2025 but edged up to 5.6% in September 2025.
🏦 PKR/USD parity remained stable at 282.71, with SBP Reserves at USD 14.4 million.
🎯 FBR set a tax collection target of PKR 14,131 billion for FY26, but fell short by PKR 198 billion in Q1.
🤝 IMF engagement remains constructive, focusing on fiscal performance and circular debt reduction.
🚀 KSE-100/KMI-30 Index gained ~32/33%, closing at 165,493/246,267 points.
💸 Mutual Funds and Individual investors were net buyers, while Foreign Corporates were net sellers.
📊 Average daily volumes/value traded increased ~47/44% QoQ for KSE-100.
✨ Sector-wise, Banks, Cements, Power & Automobile Assemblers outperformed.
💼 Faysal Halal Amdani Fund yielded 9.03% versus benchmark of 9.74%.
💸 Faysal Islamic Cash Fund yielded 8.97% versus benchmark of 9.74%.
📈 Faysal Islamic Stock Fund posted an absolute 1QFY26 return of 28.72% against its benchmark return of 33.20%.

🎯 Investment Thesis

HOLD, given that the equity market is expected to maintain upward momentum. However, due to the recent sharp rally, a selective approach favoring cyclical and high-dividend yielding stocks is recommended.

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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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