Strength-8 - FoxLogica

📉 LEUL: SELL Signal (8/10) – Presentation for LEATHERUP LIMITED-Corporate-Briefing-Session

⚡ Flash Summary

Leather Up Limited (LEUL) reported a challenging FY2025 with a significant decline in financial performance. Revenue decreased sharply, leading to net losses compared to profits in the previous year. The company attributes the downturn to weakened export demand in Europe and increased input costs. Management is focused on cost control, market diversification, and securing new export orders to improve performance.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Revenue decreased significantly to Rs 12.09m in FY2025 from Rs 27.53m in FY2024.
❌ The company reported a Profit/(Loss) Before Tax of (Rs 4.32m) in FY2025, compared to a profit of Rs 0.57m in FY2024.
⛔ Profit/(Loss) After Tax was (Rs 4.51m) in FY2025, a substantial drop from Rs 0.32m in FY2024.
📉 EPS declined to (Rs 0.75) in FY2025 from Rs 0.05 in FY2024.
⚠️ Accumulated Loss increased to (Rs 48.98m) in FY2025.
🌍 Weakened export demand in Europe due to prevailing economic conditions drove the sales decline.
💸 Gross margin reduced due to increased cost of goods sold and competitive pricing pressures.
📈 Operating loss significantly increased to Rs 4.99m, compared to Rs 90.8k in the prior year.
💼 Current ratio improved to 3.63x compared to prior year (3.34x).
✔️ Net Working Capital is positive, supporting operations at Rs 14.13m.
🏦 Strong banking relationships with MCB, UBL, and Faysal Bank ensure access to necessary facilities.
🌍 Management is actively exploring new export markets to diversify revenue streams.
🛡️ Cost control measures and supplier negotiations are being implemented to manage input expenses.
📊 Proactive efforts led to securing export orders of Rs 22m in Q1 FY2026, signalling a potential positive shift.

🎯 Investment Thesis

Based on the significant decline in financial performance and increased accumulated loss, a SELL recommendation is warranted. The company faces several risks, and while management is implementing mitigation strategies, the overall outlook remains challenging. A price target would depend on a more detailed valuation analysis, but the current information suggests a negative outlook. I expect this downturn to extend into the medium term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 28, 2025

announcements HINO Signal: BUY

📈 HINO: BUY Signal (8/10) – Transmission of Half-Yearly Report for the Period Ended September 2025

⚡ Flash Summary

Hinopak Motors Limited’s half-yearly report for September 2025 reveals a significant turnaround in the commercial vehicle market in Pakistan, with overall sales increasing by 117%. Hinopak’s sales volume also rose substantially to 306 units from 189 units in the prior year. This surge translated to a notable increase in sales revenue, reaching Rs. 6.92 billion compared to Rs. 4.62 billion previously. Consequently, the company reported a profit after tax of Rs. 540.28 million, a stark contrast to the loss of Rs. 47.24 million in the corresponding period last year, resulting in earnings per share of Rs. 21.78.

Signal: BUY 📈

Strength: 8/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Total commercial vehicle sales in Pakistan increased by 117% year-over-year.
🚌 Hinopak’s sales volume surged from 189 to 306 units. 🚀
💰 Sales revenue grew significantly to Rs. 6.92 billion from Rs. 4.62 billion. 💸
✅ Gross profit increased to Rs. 1.32 billion compared to Rs. 614.86 million. 🎉
📉 Finance costs decreased to Rs. 189.63 million from Rs. 227.39 million. 👍
🌟 Profit after tax reached Rs. 540.28 million, a turnaround from a loss of Rs. 47.24 million. ✨
💲 Earnings per share (EPS) stood at Rs. 21.78, compared to a loss per share of Rs. 1.90 last year. 🍀
✔️ Finance cost includes Rs. 70.89 million in net exchange loss and Rs. 99.47 million in mark-up on short-term borrowings. 🏦
🛣️ Macroeconomic conditions and government focus on infrastructure are expected to support demand. 🏗️
🤝 Sincere gratitude expressed to parent companies, customers, and the Hinopak team. 🙌
📊 The Company issued bank guarantees amounting to Rs. 215 million in relation to Sindh infrastructure cess.
✔️ Sales to Indus Motor Company Limited amounted to Rs. 1.31 billion accounting for 18.92% of the net sales.

🎯 Investment Thesis

Based on the strong turnaround and positive outlook, a BUY recommendation is justified for Hinopak Motors Limited. The company has demonstrated resilience and growth potential, supported by improving macroeconomic conditions and effective cost management. A price target of Rs. 100 is set, based on a multiple of 4.5 times the annualized EPS, with a medium-term horizon of 18 months.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 28, 2025

announcements NEXT Signal: BUY

📈 NEXT: BUY Signal (8/10) – Corporate Briefing Session – 2025 Presentation

⚡ Flash Summary

Next Capital Limited announced its Corporate Briefing Session for the year ended June 30, 2025. The company reported a strong turnaround, reversing losses from the previous year. Brokerage income surged by 96.85%, driven by increased turnover in the Pakistan Stock Exchange (PSX). The company’s strategic expansion into fintech through Finqalab demonstrates a commitment to innovation and attracting new investors, with 83% being first-time investors.

Signal: BUY 📈

Strength: 8/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🚀 Brokerage income surged by 96.85% to PKR 238.4 million, fueled by higher client trading flows.
📈 The company reversed losses, reporting a profit before tax of PKR 38.13 million.
💰 Profit after tax reached PKR 28.73 million, indicating a significant financial recovery.
⭐ Earnings per share (EPS) improved to PKR 0.50.
✅ Advisory and related income increased to PKR 92.25 million, up from PKR 67.07 million.
📊 EBIT margin improved to 22.8%, compared to 15.4% in the previous year.
🌱 Net profit margin swung to 10.1%, a considerable improvement from -10.2%.
💼 Operating costs increased to PKR 147.957 million, reflecting investments in revenue-generating capabilities.
📉 Administrative costs slightly decreased to PKR 132.599 million.
💸 Total assets increased to PKR 1,113.2 million, driven by higher cash and investments in intangibles.
🏦 Cash and bank balances increased to PKR 424.9 million, supporting operations and working capital.
📉 Trade debts decreased by ~40.6% to PKR 73.0 million.
⬆️ Trade and other payables climbed ~89.3% to PKR 482.3 million, reflecting tighter collections and higher vendor financing.
🌐 Intangible assets increased to PKR 235.1 million, emphasizing investment in technology.
🤝 Shareholders’ equity rose to PKR 435.1 million as accumulated losses narrowed.

🎯 Investment Thesis

BUY. Next Capital’s demonstrated turnaround, significant growth in brokerage income, and strategic investment in fintech warrant a BUY recommendation. The company has shown its ability to capitalize on favorable market conditions and enhance operational efficiency. The expansion into Finqalab represents a growth catalyst, attracting new investors and diversifying revenue streams. Price Target: A 20-30% increase over the next 12-18 months, contingent on continued market stability and successful execution of growth strategies.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements JATM Signal: SELL

📉 JATM: SELL Signal (8/10) – Corporate Briefing Session 2025

⚡ Flash Summary

J. A. Textile Mills Limited’s corporate briefing for 2025 reveals a challenging financial landscape. The company experienced a significant surge in revenue, jumping from PKR 129.95 million in 2024 to PKR 1,430.99 million in 2025. Despite this impressive increase in sales, the company reported a gross loss of PKR 63.33 million. The company’s accumulated losses have further widened, reaching PKR 140.42 million, and the company also grapples with substantial current liabilities exceeding PKR 460 million. The report paints a picture of a company struggling to convert revenue into profitability, indicating potential operational inefficiencies or high costs of goods sold.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

⬆️ Revenue soared from PKR 129.95 million to PKR 1,430.99 million year-over-year.
📉 Gross loss reported at PKR 63.33 million, indicating cost challenges.
❌ Accumulated losses widened to PKR 140.42 million.
⚠️ Negative EPS of (3.3592) compared to (4.8274) last year.
💰 Total Comprehensive Income was PKR 193.62 million, influenced by revaluation surplus.
🏢 Total assets stand at PKR 1,251.56 million.
Liabilities (excluding equity) are PKR 606.28 million.
📉 Negative Pre-tax profit/(loss) to sales %: (57.68)
💸 Current liabilities at PKR 460.91 million.
📉 Fixed Assets (Cost/Revalued) increased to 842.13 million from 556.40 million
👎 Negative Earning after tax per share (Rs.): (4.7274)
🏦 Loan from related parties increased from 126.29 million to 160.79 million
📉 Negative Pre-tax profit/(loss) to capital %: (59.48)

🎯 Investment Thesis

Based on the analysis, a SELL recommendation is warranted. The company’s inability to generate profit despite increased revenue, coupled with rising losses and liquidity issues, presents significant downside risk. A price target significantly lower than the current paid up value of 10 per share is justified, until the company can demonstrate sustainable profitability and improved financial health. Given the current financials, a short-term horizon is recommended.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements BBFL Signal: BUY

📈 BBFL: BUY Signal (8/10) – Corporate Briefing Session of Big Bird Foods Limited

⚡ Flash Summary

Big Bird Foods Limited (BBFL) reported strong growth in its latest corporate briefing for 2025. The company highlighted a significant increase in turnover and earnings per share (EPS) compared to the previous year. BBFL’s turnover increased by 1.58x, reaching Rs. 11.36 billion in 2025 compared to Rs. 7.21 billion in 2024. The EPS also saw substantial growth, increasing by 1.39x, with an EPS of PKR 3.90 in 2025 versus PKR 2.80 in 2024, demonstrating the company’s sustained performance amidst challenging market conditions.

Signal: BUY 📈

Strength: 8/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🚀 Turnover increased by 1.58x, from Rs. 7.21 Bn in 2024 to Rs. 11.36 Bn in 2025.
💰 EPS grew by 1.39x, from PKR 2.80 in 2024 to PKR 3.90 in 2025.
📈 YTD September 2025 growth shows underlying sale growth of 57.7%.
✅ Profitability with an operating margin of 16.78%.
🏢 Incorporated on Sep 21, 2011, as a Private Limited Company.
전환️ Converted to a Public Limited Company on June 01, 2023.
🏢 Became a Public Listed Company on Aug 05, 2024, listed on Pakistan Stock Exchange.
📍 Geographical location: 2-A, Ahmad Block, New Garden Town Lahore & 63 Km Multan Road, Lahore.
🌐 Sales and Distribution Network across all major cities of Pakistan.
🌱 Sustainability initiatives include commissioning a 3 MW solar power project to offset ~40% of energy needs.
🌳 Approximately 17,000 plants cultivated on 20 acres to reduce the carbon footprint.
🤖 Continued investment in automation for efficiency and consistency.
🌍 Strengthening presence in the Middle East to establish a global halal food footprint.
🤝 Governance & ESG: Strengthening compliance and ESG alignment.

🎯 Investment Thesis

Based on the strong growth in turnover and EPS, a **BUY** recommendation is warranted. The company’s strategic initiatives, such as sustainability projects and market expansion, support continued growth. The company’s recent listing could lead to more liquidity. A price target requires further detailed financial modeling, but based on the 39% increase in EPS year over year, and assuming a similar trend over the next two years, a price target reflecting similar growth to the share price over a **MEDIUM_TERM** (1-2 years) timeframe is justifiable, assuming the company maintains or exceeds its operational efficiency.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements BBFL Signal: BUY

📈 BBFL: BUY Signal (8/10) – Corporate Briefing Session of Big Bird Foods Limited REVOKED

⚡ Flash Summary

Big Bird Foods Limited (BBFL) has shown significant growth in 2025, as presented in their corporate briefing. The company transitioned from a private to a public listed company in recent years. BBFL’s turnover increased by 58% from 2024 to 2025, reaching Rs. 11.36 billion. The company’s Earnings Per Share (EPS) also grew by 39% to PKR 3.90, indicating improved profitability amid challenging market conditions. They are also investing in sustainability and automation to improve efficiency and reduce costs.

Signal: BUY 📈

Strength: 8/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Turnover increased by 58% from Rs. 7.21 Bn (2024) to Rs. 11.36 Bn (2025).
💰 EPS increased by 39% from PKR 2.80 (2024) to PKR 3.90 (2025).
🌱 The company is committed to sustainability with a 3 MW solar power project to offset ~40% of energy needs, saving an estimated PKR 600 million.
🌳 Approximately 17,000 plants have been cultivated on 20 acres of vacant land to reduce the carbon footprint.
⚙️ Continued investment in modern food-processing automation to improve efficiency and consistency.
🌍 Strengthening presence in the Middle East to establish a global halal food footprint.
🤝 Enhanced employee welfare, training, and performance-development programs.
✔️ Optimization of production capacities and resources for improved margins.
🔒 Strengthening compliance, code of conduct, and ESG alignment for stakeholder confidence.
⭐ Vision to position Big Bird Foods as a leading international halal brand, known for quality, innovation, and sustainability.
🏢 Geographical location: 2-A, Ahmad Block, New Garden Town Lahore & 63 Km Multan Road, Lahore.
🚚 Sales and Distribution Network across all major cities of Pakistan.
📅 Incorporated on Sep 21, 2011, converted to public limited company on June 01, 2023, and listed on Pakistan Stock Exchange on Aug 05, 2024.

🎯 Investment Thesis

BBFL is a BUY due to its strong financial performance, strategic initiatives, and commitment to sustainability. The company’s impressive growth in revenue and EPS, along with its investments in automation and sustainability, make it an attractive investment. With focus on sustainability, they can improve margins due to tax incentives, and higher consumer demand.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements BBFL Signal: BUY

📈 BBFL: BUY Signal (8/10) – Corporate Briefing Session of Big Bird Foods Limited REVOKED

⚡ Flash Summary

Signal: BUY 📈

Strength: 8/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Turnover increased by 58% from Rs. 7.21 Bn (2024) to Rs. 11.36 Bn (2025).
💰 EPS increased by 39% from PKR 2.80 (2024) to PKR 3.90 (2025).
🌱 The company is committed to sustainability with a 3 MW solar power project to offset ~40% of energy needs, saving an estimated PKR 600 million.
🌳 Approximately 17,000 plants have been cultivated on 20 acres of vacant land to reduce the carbon footprint.
⚙️ Continued investment in modern food-processing automation to improve efficiency and consistency.
🌍 Strengthening presence in the Middle East to establish a global halal food footprint.
🤝 Enhanced employee welfare, training, and performance-development programs.
✔️ Optimization of production capacities and resources for improved margins.
🔒 Strengthening compliance, code of conduct, and ESG alignment for stakeholder confidence.
⭐ Vision to position Big Bird Foods as a leading international halal brand, known for quality, innovation, and sustainability.
🏢 Geographical location: 2-A, Ahmad Block, New Garden Town Lahore & 63 Km Multan Road, Lahore.
🚚 Sales and Distribution Network across all major cities of Pakistan.
📅 Incorporated on Sep 21, 2011, converted to public limited company on June 01, 2023, and listed on Pakistan Stock Exchange on Aug 05, 2024.

🎯 Investment Thesis

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements BBFL Signal: BUY

📈 BBFL: BUY Signal (8/10) – Corporate Briefing Session of Big Bird Foods Limited

⚡ Flash Summary

Big Bird Foods Limited (BBFL) reported a significant increase in both turnover and earnings per share (EPS) in 2025. The company’s turnover increased by 58% reaching Rs. 11.36 billion compared to Rs. 7.21 billion in 2024. EPS also saw a substantial rise, increasing by 39% to PKR 3.90 in 2025 from PKR 2.80 in the previous year. These results demonstrate the company’s sustained performance amid challenging market conditions, showcasing strong underlying sales growth and improved profitability with an operating margin of 16.78%. BBFL is focusing on strategic goals including sustainability, automation, and expansion in the Middle East.

Signal: BUY 📈

Strength: 8/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Turnover increased by 58% from Rs. 7.21 Bn (2024) to Rs. 11.36 Bn (2025).
💰 EPS rose by 39% from PKR 2.80 (2024) to PKR 3.90 (2025).
📊 YTD September 2025 growth shows a robust underlying sales increase of 57.7%.
✅ The operating margin stands at a healthy 16.78%.
☀️ Commissioning of a 3 MW solar power project to offset ~40% of energy needs, saving an estimated PKR 600 million.
🌱 Around 17,000 plants have been cultivated on 20 acres of vacant land to help reduce the carbon footprint.
🤖 Continued investment in modern food-processing automation to improve efficiency.
🌍 Strengthening presence in the Middle East to establish a global halal food footprint.
🤝 Enhanced employee welfare, training, and performance-development programs.
⚙️ Optimization of production capacities and resources for improved margins.
🛡️ Strengthening compliance, code of conduct, and ESG alignment for stakeholder confidence.
🌟 Aims to position Big Bird Foods as a leading international halal brand.
🤝 Private Limited Company until June 1, 2023.
🏢 Public Listed Company since August 5, 2024.

🎯 Investment Thesis

BUY. BBFL’s strong financial performance, strategic investments, and focus on sustainability make it an attractive investment. The company’s growth rates and improved profitability indicate potential for continued success. The company should be valued at PKR 6.00-8.00 with a target horizon of 12-18 months.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements Signal: SELL TSPL

📉 TSPL: SELL Signal (8/10) – Presentation for Corporate Briefing Session

⚡ Flash Summary

Tri-Star Power Limited (TSPL) is a Pakistan-based public limited company involved in electricity generation, distribution, and the leasing of power generating plants. The company’s plant has been given on rental to an associated concern. However, due to the stoppage of gas supply by SSGC, the plant cannot be used and as such rental could not be charged. The plant is old and requires high maintenance, and the company is looking for alternative/renewal energy sources requiring fresh investment.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🏭 TSPL’s primary activity is electricity generation, distribution, and power plant leasing.
📅 Incorporated in Pakistan on September 27, 1993.
🇵🇰 Shares are listed on the Pakistan Stock Exchange.
🏢 Registered office is in Karachi, Pakistan.
🛑 Plant rental operations are currently halted due to gas supply issues from SSGC.
⏳ The plant is old, requires high maintenance, and cannot be used due to gas stoppage.
🌱 TSPL is seeking alternative/renewal energy sources.
💼 As of June 30, 2025, the company’s paid-up capital remained constant at PKR 150,000,000.
📉 The company reported a net loss of PKR (10,317,806) for the year ended June 30, 2025.
🔻 Accumulated losses increased to PKR (49,279,528).
⬇️ Sales (lease rental) decreased to PKR 5,000,000 in 2025 from PKR 14,114,000 in 2021 and PKR 16,034,490 in 2020.
Current ratio decreased to 2.61 in 2025 from 3.41 in 2024
❌ The company did not declare any cash or bonus dividends in the last six years.

🎯 Investment Thesis

Given the continued losses, operational challenges, and increasing accumulated losses, a SELL recommendation is appropriate for TSPL. The absence of dividends and the declining financial performance makes it an unattractive investment. The need for fresh investment in alternative energy sources also adds uncertainty.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 26, 2025

announcements ASTL Signal: SELL

📉 ASTL: SELL Signal (8/10) – Corporate Briefing Session 2025 – Presentation

⚡ Flash Summary

Amreli Steels Limited (ASTL) reported a challenging financial year ending June 30, 2025. The company experienced a significant drop in rebar sales quantities, leading to a substantial net loss. Ongoing financial restructuring and unavailability of working capital lines were major contributing factors to the decline in sales volume. Despite macroeconomic indicators showing signs of improvement, ASTL’s overall financial performance remained weak, highlighted by negative EPS and a significant operating loss.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Sales decreased to PKR 16.08 billion, compared to PKR 38.78 billion in the previous year.
⛔ Gross profit significantly declined to PKR 76.01 million from PKR 2.40 billion.
😔 Operating loss widened to PKR 1.06 billion compared to an operating loss of PKR 130.79 million.
💔 Net loss reached PKR 3.81 billion, versus a net loss of PKR 6.11 billion last year, but still a significant loss.
📉 Loss per share (LPS) stood at PKR (12.83).
📉 Rebar sales quantities dropped by 59% to 71,602 MT from 156,526 MT.
🏭 Capacity utilization significantly decreased, contributing to elevated cost of sales.
💲 Average scrap costs decreased due to lower CNF prices and rupee appreciation, but overall cost of sales remained high.
⚡ Electricity tariffs declined from Rs. 45/kWh to Rs. 34.6/kWh, but the benefit was offset by fixed load charges.
💰 The company’s financial restructuring includes converting approximately PKR 11 billion of short-term facilities into long-term facilities.
💪 Planned injection of PKR 4 billion via equity and sale of non-core assets to strengthen working capital.
📈 Cement dispatches are up 12% YoY, indicating increased construction demand, which could benefit future sales.
💲 Steel scrap volumes increased by 56% YoY in 1QFY26, suggesting potential recovery in production.
🚫 FATA/PATA exemptions have been cut down, aligning with industry norms.

🎯 Investment Thesis

Given the company’s negative financial performance, ongoing restructuring, and significant risks, a SELL recommendation is warranted. While the financial restructuring plan aims to improve liquidity and reduce finance costs, the timeline for turnaround is uncertain. The price target is significantly below the current price, reflecting the challenging operating environment and weak financials.

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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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