β‘ Flash Summary
Trust Securities and Brokerage Limited (TSBL) held a corporate briefing session in 2025. The company’s operating revenue increased from PKR 211.99 million in 2024 to PKR 251.09 million in 2025. However, profit after tax significantly decreased from PKR 83.99 million to PKR 19.17 million, resulting in a drop in Earnings Per Share (EPS) from PKR 2.80 to PKR 0.64. The presentation included an overview of the company, its vision and mission, board of directors, financial services, and a profit & loss statement.
π Key Takeaways
- π Operating revenue increased to PKR 251.09 million in 2025 from PKR 211.99 million in 2024.
- π Profit after tax decreased significantly to PKR 19.17 million in 2025 from PKR 83.99 million in 2024.
- π Earnings Per Share (EPS) dropped to PKR 0.64 in 2025 from PKR 2.80 in 2024.
- π° Gain on sale of short-term investments decreased to PKR 13.90 million in 2025 from PKR 96.96 million in 2024.
- β οΈ Operating and administrative expenses increased to PKR 272.34 million in 2025 from PKR 233.57 million in 2024.
- πΈ Finance cost decreased to PKR 11.75 million in 2025 from PKR 13.51 million in 2024.
- π Other charges decreased to PKR 22.80 million in 2025 from PKR 44.21 million in 2024.
- πΌ Other income increased to PKR 66.69 million in 2025 from PKR 59.05 million in 2024.
- π’ The company has a presence in Lahore and Karachi with a total of 6 branches.
- π€ TSBL aims to provide unmatched services to help clients achieve targets in the capital market.
- π― The company’s vision is to create a diversified brokerage and financial services business.
- π€ The board of directors includes Abdul Basit (CEO), Zenobia Wasif (Chairperson), and others.
- β TSBL offers financial consultancy, technical, and fundamental analysis.
- ποΈ The corporate briefing session took place in 2025.
π― Investment Thesis
Given the significant decrease in profitability and EPS, a SELL recommendation is appropriate for TSBL. The company’s financial performance has deteriorated, and there are notable financial and operational risks. The lack of specific future guidance or strategic initiatives to reverse the trend further supports a negative outlook. The price target should be revised downwards to reflect the decreased earnings potential.
Disclaimer: AI-generated analysis. Not financial advice.