Strength-6 - FoxLogica

⏸️ LIVEN: HOLD Signal (6/10) – LIVEN | Liven Pharma Limited Issue Right Shares @ 21.496% at Par Value Rs.10/- Each Per Ordinary Share

⚡ Flash Summary

LIVEN Pharma Limited is issuing right shares to existing shareholders at a ratio of 21.496 right shares for every 100 shares held. The right shares are offered at par value of PKR 10 per share. Shareholders must accept and pay for the right shares by December 22, 2025. This issuance aims to raise capital, providing shareholders the opportunity to increase their stake in the company.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📢 LIVEN Pharma is issuing right shares at a ratio of 21.496% for every 100 shares held.
💰 The issue price is PKR 10/- per share, which is the par value.
🗓️ The offer is available from December 1, 2025, to December 15, 2025, for trading of rights.
⏳ Shareholders must accept and pay for the shares on or before December 22, 2025.
🏦 Payment can be made through Meezan Bank Limited at all branches.
💻 Online payment option is available through 1Link for IAS account holders.
🧾 Physical shareholders can renounce rights by depositing them into a CDS account.
🔄 Shareholders must request their CDC participant to initiate the right subscription request.
🚫 Fractional right entitlements will be consolidated and disposed of on the Securities Exchange.
🏦 Payment can be made via cash, cheque, demand draft, or pay order.
⏳ Securities against paid Right Subscription Request will be credited within 14 business days from the last payment date (December 22, 2025).
📄 Detailed procedures for exercising rights in CDS are provided.
🌐 The International Bank Account Number (IBAN) is PK58MEZN0098860113180818.
✅ Right subscription request can be initiated for full or partial right offer.

🎯 Investment Thesis

I recommend a HOLD position. While the right issue presents an opportunity for existing shareholders to increase their stake at par value, the potential dilution effect and the uncertainty of how efficiently the capital will be used warrant a cautious approach. Further analysis is required to evaluate the company’s growth prospects and profitability improvements. A reassessment is needed post the capital raise and deployment.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements Signal: HOLD

⏸️ STL: HOLD Signal (6/10) – Presentation of Corporate Briefing Session – 2025

⚡ Flash Summary

Telecard & Supernet Technologies’ corporate briefing for FY 2024-25 highlights the strategic merger of Supernet Limited with Supernet Technologies, approved by both Boards and shareholders on June 27, 2025, to unlock value and list SNL on PSX Main Board. The merger application awaits adjudication by the Sindh High Court. Key commercial achievements include securing PKR 833 Mn+ contracts and renewing a PKR 600+ million agreement for Value Added Services. The company is focused on digital transformation in Pakistan.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

✅ Strategic merger of Supernet Limited with Supernet Technologies approved on June 27, 2025.
🏢 Aims to list SNL on PSX Main Board post-merger.
⚖️ Merger application pending adjudication by the Sindh High Court.
📡 LDI and Local Loop Licenses of TCL under renewal, industry-wide issues being challenged in courts.
🤝 Telecard has entered into an alliance with Call Center Studio out of Turkey.
🏦 Secured a 5-year contract worth PKR 833 Mn+ for 1,800 bank branches.
🌐 Won MNO Network Operations SLAs (3-year) for PKR 1,940 Mn+.
🛰️ Won MEO Satellite Services (3-year extendable) for PKR 1,030 Mn+.
💰 Secured a PKR 800 Million+ NBP connectivity contract for 5 years.
🔒 Super Secure locked-in 5-year project with an MNO for PKR 700 Mn+.
🏦 Super Secure locked-in a 3-year project with the Banking sector for PKR 196 Mn+.
📞 Telecard renewed a PKR 600+ million agreement for Value Added Services.
📈 Secured 81 Million in monthly billing for long-term contracts with almost all banks.
🛡️ Cybersecurity business generated USD 1.76Million from banking customers.
🤝 Added Karakoram Cooperative Bank and other banks to the portfolio.

🎯 Investment Thesis

HOLD. Telecard shows promising growth and strategic initiatives, including the merger and focus on digital transformation. However, pending regulatory decisions and macroeconomic factors necessitate a cautious approach. A more aggressive stance would be justified with greater clarity on license renewals and sustained profitability improvements.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements Signal: HOLD TELE

⏸️ TELE: HOLD Signal (6/10) – Corporate Briefing Session Presentation FY ended 30 June 2025

⚡ Flash Summary

Telecard’s FY 2024-25 corporate briefing highlights a strategic merger with Supernet Limited approved by both boards, aiming to unlock value and list Supernet Technologies (SNL) on the PSX Main Board. The merger application is pending adjudication by the Sindh High Court. The company has also secured key commercial deals including a PKR 833 Mn+ contract, MNO Network Operations SLAs worth PKR 1,940 Mn+, and a cybersecurity business generating USD 1.76 Million. The industry outlook is positive with strong growth in the IT/ITeS and e-commerce sectors.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

1. 🤝 Strategic merger of Supernet Limited and Supernet Technologies approved, awaiting court adjudication.
2. 🏢 SNL listing on PSX Main Board to unlock value. 🚀
3. 🔒 Secured PKR 833 Mn+ contract for 1,800 bank branches. 🏦
4. 🌐 Won MNO Network Operations SLAs worth PKR 1,940 Mn+. 📡
5. 🛰️ Won MEO Satellite Services worth PKR 1,030 Mn+. 📡
6. 🛡️ Cybersecurity business generated USD 1.76 Million. 💻
7. ✅ Telecard renewed PKR 600+ million agreement for Value Added Services. 📞
8. 💳 Secured 81 Million in monthly billing for long-term bank contracts. 🏦
9. 📈 IT/ITeS sector growth at 18%. 💻
10. 💸 Digital finance transactions grew by 38%. 📱
11. 🛒 eCommerce market revenue projected at US$6.71bn by 2029. 🛍️
12. 🌍 Telecard aims to be a key enabler of digital adoption in Pakistan. 🌐
13. 🛡️ Focusing on the defense sector to diversify products and services. 🪖
14. 🚀 Telecard is Going Global by entering International markets.
15. ⚖️ LDI & LL Licenses up for renewals; matter sub judice.

🎯 Investment Thesis

Based on the analysis, a HOLD recommendation is appropriate. The company shows growth potential and successful deals, but regulatory risks and pending legal issues warrant caution. A more bullish stance would require greater clarity on license renewals and sustained profitability.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements LSECL Signal: HOLD

⏸️ LSECL: HOLD Signal (6/10) – Resolutions passed by the Shareholders in the Annual General Meeting

⚡ Flash Summary

LSE Capital Limited held its Annual General Meeting on November 27, 2025, where shareholders unanimously passed several resolutions. Key actions included confirming the minutes of the previous AGM, adopting the audited financial statements for the year ended June 30, 2025, and appointing Ilyas Saeed & Co. as external auditors for the year ending June 30, 2026. A significant resolution involved a stock split, reducing the par value of shares from Rs. 10.00 to Rs. 5.00, and amending the Memorandum and Articles of Association accordingly to reflect the increased number of ordinary shares.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

✅ Minutes of the previous AGM held on November 27, 2024, were confirmed.
📈 Annual Audited Financial Statements for the year ended June 30, 2025, were adopted.
👨‍💼 Ilyas Saeed & Co. appointed as external auditors for the year ending June 30, 2026, at the same remuneration as previous auditors.
✂️ Stock split approved, reducing par value from Rs. 10.00 to Rs. 5.00 per share.
📊 Authorized capital remains at Rs. 2,500,000,000/-.
🔄 Ordinary shares increased from 200,000,000 to 400,000,000 after the stock split.
💎 Preference shares remain at 100,000,000.
📜 Memorandum and Articles of Association to be amended to reflect the stock split.
🗓️ Board authorized to determine entitlement and book closure dates for the stock split.
➕ New clauses (Articles 80A, 80B, 80C and 80D) added to Articles of Association for an optional payout structure.
💸 Shareholders can opt for cash dividend or bonus shares.
🚫 Bonus shares can be issued from any reserves, including capital reserves.
🤝 Upper limit fixed at PKR 600 Mn for investments/financing with associated companies.
🏦 Advance/financing/loan shall not be below the rate of six (6) months KIBOR+1%.
✔️ Related party transactions for the period ended June 30, 2025, were approved/ratified.

🎯 Investment Thesis

Given the information available, a HOLD recommendation is appropriate. The stock split is a neutral event from a fundamental valuation perspective. Monitoring the impact of the stock split on trading volume and investor base is crucial. Additionally, close monitoring of related party transactions is necessary to ensure corporate governance standards are maintained. The investment thesis will depend on LSE Capital’s future financial performance, strategic initiatives, and overall market conditions in the Pakistani stock exchange. Further analysis of the annual financial statements is required to assess the company’s profitability and financial health.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

AATM announcements Signal: HOLD

⏸️ AATM: HOLD Signal (6/10) – CBS 2025 Presentation

⚡ Flash Summary

Ali Asghar Textile Mills Limited (AATM) held a corporate briefing session in 2025 outlining their transition from a textile spinning unit to logistics, warehousing, solar power generation, and allied investments. The company’s logistics center service revenue experienced a slight decrease from Rs 66.4M to Rs 64.7M year-over-year, but gross profit improved despite this dip. AATM is targeting revenue growth in logistics and has secured a 6-year, Rs 500M logistics services contract. They aim to enhance profitability by mid-2027 and have strengthened their balance sheet through cost control and long-term contracts.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

Established in 1969 as a textile spinning unit 🏭.
Transitioned to logistics and warehousing in 2011 as core business 📦.
Current operations include logistics centers, solar power, and investments ☀️.
Logistics center service revenue decreased slightly to Rs 64.7M from Rs 66.4M last year 📉.
Gross profit improved despite the revenue dip 👍.
Admin expenses remained stable at Rs 35.7M 📊.
Operating expenses reduced to Rs 5.1M ✂️.
Other income increased significantly to Rs 249.9M 💰.
Profit from operations increased to Rs 235.6M (vs 202.4M) 💪.
Secured a 6-year, Rs 500M logistics services contract 🤝.
Value-added warehousing expansion is on hold due to macroeconomic instability ⚠️.
Completed expansion to over 1,000 kW of solar energy capacity ⚡.
Market capitalization increased from Rs 700 million to Rs 4 billion 🚀.
Targeting substantial profitability enhancement by mid-2027 🎯.
942,500 kg of CO2 emissions reduced to date 🌿.

🎯 Investment Thesis

HOLD. Ali Asghar Textile Mills Limited has diversified into promising sectors and shown good profitability and financial stability. Given the mix of positives and negatives, a neutral position is warranted. Further clarity on the execution of expansion plans and stabilization of revenue growth is needed to upgrade the recommendation.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements SEARL Signal: HOLD

⏸️ SEARL: HOLD Signal (6/10) – Presentation of Corporate Briefing Session for the year 2025

⚡ Flash Summary

The Searle Company Limited (SEARL) held a corporate briefing session for FY2025. Key highlights include that the global pharmaceutical market is expected to reach USD 1.7 trillion in 2024-25, with a stable 5% CAGR projected to 2030. SEARL is the second largest pharmaceutical company in Pakistan in terms of units sold and revenue growing with a CAGR of 17% over the last 5 years. The company exports to 12 countries and is expanding.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🌍 Global pharmaceutical market size is USD 1.7 trillion.
📈 Global pharmaceutical industry is expected to grow with a CAGR of 5-6%.
💊 Pakistan’s pharmaceutical industry size is USD 3.7 billion, approximately 0.2% of the global market.
🥇 SEARL is No.1 in therapeutic categories like cardiovascular, gynecology, and cough suppressants.
🥈 SEARL is the second-largest pharmaceutical company in Pakistan by units sold.
🏆 Six brands crossed PKR 1 billion in annual sales.
💰 Eight brands crossed PKR 500 million in annual sales.
🚀 Revenue has grown with a CAGR of 17% over the past 5 years.
🤝 TSCL takes pride in its achievements towards serving mankind.
🏅 Searle was ranked the most outstanding healthcare company in Pakistan by Asiamoney (2018 & 2021).
🌏 Searle has been part of Forbes Asia’s ‘Best Under A Billion’ rankings.
💼 Searle has a presence in 89% of all pharmaceutical categories.
Export contributes around 11% of total revenue.

🎯 Investment Thesis

Based on the information, I issue a HOLD recommendation for Searle. Although the long-term growth prospects of the Pakistani pharmaceutical sector are appealing and Searle has a strong domestic footprint, the recent financial performance and associated risks merit caution. Investors should monitor SEARL’s financial performance closely.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements BECO Signal: HOLD

⏸️ BECO: HOLD Signal (6/10) – BECO | Beco Steel Limited Presentation for Corporate Briefing Session REVOKED

⚡ Flash Summary

Beco Steel Limited achieved a record PKR 7.4B in net revenue and returned to profitability with PKR 111M profit after tax in 2025. The company has shown improved liquidity through better current and quick ratios. Cash flow from operating activities increased, demonstrating operational efficiency. However, the company faces challenges including volatile raw material prices and intense competition in domestic and international markets. The company’s total equity increased by 4.50% in 2025 to 3,225,759,928 Rupees.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

✅ Achieved PKR 7.4B in net revenue, a record high.
💰 Returned to profitability with PKR 111M profit after tax.
💪 Strengthened liquidity with improved current and quick ratios.
💸 Increased cash flow from operating activities, demonstrating operational efficiency.
📈 Total Equity increased by 4.50% in 2025 to 3,225,759,928 Rupees.
⚠️ Volatile raw material prices and energy costs impacting margins.
🌍 Intense competition in both domestic and international markets.
⚙️ Need for continuous technological upgrades to maintain efficiency.
📉 Total Liabilities increased from PKR 132M in 2020 to PKR 4.3B in 2025, primarily due to trade payables.
🌱 Return on Assets improved to 0.015 in 2025 after two years of negative returns, reflecting improved asset utilization.
🚀 Return on Equity shows significant improvement, indicating better returns for shareholders.
📊 Gross Profit Ratio increased to 0.052 in 2025 from (0.005) in 2023, showing better control over direct costs.
👍 Current Ratio improved to 0.93 in 2025 from 0.76 in 2023, indicating better ability to cover short-term liabilities.
⚡ Quick Ratio increased to 0.39 in 2025 from 0.29 in 2023, showing enhanced liquidity without relying on inventory.
💼 Total Debt Ratio slightly increased to 0.562 in 2025, indicating stable debt levels.

🎯 Investment Thesis

Beco Steel exhibits promising signs of recovery with improved profitability and operational efficiency. However, the volatile nature of the steel industry and the company’s fluctuating financials necessitate a cautious approach. Given the current data, a HOLD recommendation is appropriate. This is supported by the improvements in liquidity and profitability offset by the need to manage debt and adapt to volatile market conditions. More data and stability is needed before making an upgrade to BUY.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements MDTL Signal: HOLD

⏸️ MDTL: HOLD Signal (6/10) – CORPORATE BRIEFING SESSION 2025

⚡ Flash Summary

Media Times Limited (MDTL) reported a significant increase in revenue for FY2025, rising 2.26 times to PKR 153 million compared to PKR 67.68 million in FY2024. This growth was driven by stronger advertisement revenues and improved client diversification. Despite increased revenue and improved gross margins, the company experienced a net loss of PKR 0.79 million, although significantly lower than the previous year’s loss of PKR 3.07 million. The company is exploring a potential merger with a real estate company, authorized by the Board.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEUTRAL

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Revenue increased by 2.26x, reaching PKR 153 million in FY2025 from PKR 67.68 million in FY2024.
📣 Advertisement revenues surged from PKR 63.14 million to PKR 148.40 million.
🤝 Direct client contributions nearly tripled, rising from PKR 29.38 million to PKR 84.84 million.
📰 Newspaper segment revenues remained stable at PKR 4.60 million.
📉 Net loss decreased significantly to PKR 0.79 million from PKR 3.07 million year over year.
💰 Gross profit improved to PKR 68.95 million from a loss of PKR 19.63 million in the previous year.
💸 Finance costs reduced from PKR 95.68 million to PKR 65.03 million.
🏢 The company is exploring a potential merger with a Real estate company.
📺 The company is developing YouTube channels for new revenue streams.
🏦 Non-current assets decreased primarily due to lease asset adjustments.
✅ Current assets strengthened due to higher receivables and improved cash flow.
💵 Long-term finance remains consistent at PKR 340.60 million.
📉 Accumulated loss increased slightly from PKR 2,918.70 million to PKR 2,921.96 million.
💼 Earnings per share improved from (0.02) to (0.004).

🎯 Investment Thesis

HOLD. While MDTL has shown considerable improvement in revenue and reduced its net loss, the company is still loss-making and carries significant accumulated losses. The potential merger with a real estate company introduces both opportunities and uncertainties. Until the merger details are clear and the company demonstrates sustained profitability, a HOLD recommendation is appropriate. A price target cannot be reliably established due to the current financial performance and speculative nature of the potential merger.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 26, 2025

announcements FCEL Signal: HOLD

⏸️ FCEL: HOLD Signal (6/10) – CORPORATE BRIEFING SESSION 2025

⚡ Flash Summary

First Capital Equities Limited (FCEL) reported a significant turnaround in its financial performance for the year ended June 30, 2025. The company achieved a substantial increase in profit after tax, driven primarily by unrealized gains on investments. The shift in business activity towards real estate and the potential settlement of outstanding loans are expected to further improve operational and financial performance. However, the company has surrendered it’s TREC (trading rights entitlement certificate), and will change to a real estate company.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Profit after tax surged by 859% to Rs. 170.90 million in 2025, compared to Rs. 17.80 million in 2024.
📊 Continuing operations profit increased by 810% to Rs. 171.36 million from Rs. 18.82 million in the previous year.
💸 Earnings per share (EPS) jumped by 857% to Rs. 1.207 in 2025 from Rs. 0.126 in 2024.
💰 The company’s revenue increased substantially due to unrealized gains on investments.
🏢 FCEL is transitioning its principal business activity from stock brokerage to real estate.
🤝 Management is optimistic about the impact of this shift on the company’s performance.
🏦 FCEL is in the process of negotiating loan facilities and aims to settle outstanding dues with UBL.
📉 Significant reduction in stock-in-trade, reflecting the shift in business operations.
⬇️ Large drop in the current portion of long-term financing indicates liability settlement.
⚠️ Investment in listed companies is subject to market and operational risks.
🌍 The company faces risks including market conditions, law and order situation, natural disasters, currency risk, and political instability in Pakistan.
🧾 The company’s disclosure states the possible variance between the actual and estimated future earnings.
📊The company’s total assets decreased from 1,361.9 to 1,237.2 (millions of rupees) from 2024 to 2025.

🎯 Investment Thesis

Based on the available information, a HOLD recommendation is appropriate for FCEL. While the company has demonstrated a remarkable turnaround in financial performance, the sustainability of these gains remains uncertain. The shift in business strategy towards real estate presents both opportunities and risks. The company may be attractive to investors with a strong risk tolerance. There is no provided price target, as there is too little information to make an informed recommendation.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 26, 2025

announcements ESBL Signal: HOLD

⏸️ ESBL: HOLD Signal (6/10) – Corporate Briefing Session Presentation 2025

⚡ Flash Summary

Escorts Investment Bank Limited (EIBL) reported a revenue of Rs. 108.38M for the year 2025, a decrease from Rs. 136.49M in the previous year. The company experienced a higher loss of Rs. 68.40M compared to Rs. 23.10M in FY24, primarily due to increased prudent provisioning. Despite the revenue decline, EIBL focuses primarily on lending business including Housing Finance, Corporate Finance & Micro Finance. The company received a public announcement of intention and signed an MOU with a substantial acquirer during the year.

Signal: HOLD ⏸️

Strength: 6/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

1. 📉 Revenue decreased to Rs. 108.38M in FY25 from Rs. 136.49M in FY24.
2. ⚠️ Net loss increased to Rs. 68.40M in FY25 compared to Rs. 23.10M in FY24.
3. 🏦 EIBL focuses primarily on lending business including Housing Finance, Corporate Finance & Micro Finance.
4. 🔍 Increased prudent provisioning of Rs. 9.70 million in FY25, up from Rs. 3.97M in FY24.
5. 🏢 Operating costs rose to Rs. 173.983M in FY25 from Rs. 163.199M in FY24.
6. 🤝 Signed an MOU with a substantial acquirer in FY25.
7. 💼 Total assets decreased to Rs. 660.798M from Rs. 726.056M.
8. 📊 Short-term rating: A3 (adequate capacity for timely repayment).
9. 📜 Long-term rating: BBB- (good credit quality).
10. 🏦 Finance portfolio increased from 222 million to 260 million.
11. 🏘️ House Finance portfolio decreased from 46M to 35M.
12. 💰 Micro Finance portfolio increased from 146M to 173M.
13. 🪙 Gold Finance portfolio increased from 30M to 52M.

🎯 Investment Thesis

Given the declining financial performance and regulatory risks, a HOLD recommendation is appropriate. The company’s potential acquisition could provide some upside, but the current financial metrics do not support a BUY rating. Further information and analysis are needed to assess the potential acquirer’s plans. The time horizon is MEDIUM_TERM.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 26, 2025

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