New Risk • May 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (PK₨14.4b market cap, or US$51.8m). Reported Earnings • Apr 29
Third quarter 2026 earnings released: EPS: PK₨2.77 (vs PK₨3.05 in 3Q 2025) Third quarter 2026 results: EPS: PK₨2.77 (down from PK₨3.05 in 3Q 2025). Revenue: PK₨8.27b (up 15% from 3Q 2025). Net income: PK₨277.5m (down 9.1% from 3Q 2025). Profit margin: 3.4% (down from 4.2% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 59% per year, which means it is well ahead of earnings. Annonce • Apr 20
Ittehad Chemicals Limited to Report Q3, 2026 Results on Apr 27, 2026 Ittehad Chemicals Limited announced that they will report Q3, 2026 results on Apr 27, 2026 Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to PK₨144, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 10x in the Chemicals industry in Pakistan. Total returns to shareholders of 454% over the past three years. Reported Earnings • Feb 19
Second quarter 2026 earnings released: EPS: PK₨3.87 (vs PK₨3.52 in 2Q 2025) Second quarter 2026 results: EPS: PK₨3.87 (up from PK₨3.52 in 2Q 2025). Revenue: PK₨7.99b (up 22% from 2Q 2025). Net income: PK₨386.8m (up 9.8% from 2Q 2025). Profit margin: 4.8% (down from 5.4% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 65% per year, which means it is well ahead of earnings. Declared Dividend • Feb 19
First half dividend of PK₨1.00 announced Shareholders will receive a dividend of PK₨1.00. Ex-date: 2nd March 2026 Payment date: 26th March 2026 Dividend yield will be 2.0%, which is lower than the industry average of 12%. Sustainability & Growth Dividend is covered by both earnings (14% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 22% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annonce • Feb 10
Ittehad Chemicals Limited to Report First Half, 2026 Results on Feb 17, 2026 Ittehad Chemicals Limited announced that they will report first half, 2026 results on Feb 17, 2026 Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to PK₨159, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 12x in the Chemicals industry in Pakistan. Total returns to shareholders of 632% over the past three years. Reported Earnings • Nov 01
First quarter 2026 earnings released: EPS: PK₨3.39 (vs PK₨2.62 in 1Q 2025) First quarter 2026 results: EPS: PK₨3.39 (up from PK₨2.62 in 1Q 2025). Revenue: PK₨7.87b (up 19% from 1Q 2025). Net income: PK₨338.9m (up 29% from 1Q 2025). Profit margin: 4.3% (up from 4.0% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨140, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 11x in the Chemicals industry in Pakistan. Total returns to shareholders of 553% over the past three years. Upcoming Dividend • Oct 10
Upcoming dividend of PK₨2.00 per share Eligible shareholders must have bought the stock before 17 October 2025. Payment date: 18 November 2025. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Pakistani dividend payers (7.4%). Lower than average of industry peers (7.1%). Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to PK₨124, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 12x in the Chemicals industry in Pakistan. Total returns to shareholders of 451% over the past three years. New Risk • Oct 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Pakistani stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (PK₨11.3b market cap, or US$40.3m). Reported Earnings • Sep 25
Full year 2025 earnings released: EPS: PK₨12.90 (vs PK₨13.85 in FY 2024) Full year 2025 results: EPS: PK₨12.90 (down from PK₨13.85 in FY 2024). Revenue: PK₨27.9b (up 15% from FY 2024). Net income: PK₨1.29b (down 6.9% from FY 2024). Profit margin: 4.6% (down from 5.7% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Sep 22
Ittehad Chemicals Limited, Annual General Meeting, Oct 28, 2025 Ittehad Chemicals Limited, Annual General Meeting, Oct 28, 2025. Location: at 39-empress road, lahore., Pakistan Declared Dividend • Sep 21
Dividend of PK₨2.00 announced Shareholders will receive a dividend of PK₨2.00. Ex-date: 17th October 2025 Payment date: 18th November 2025 Dividend yield will be 3.5%, which is lower than the industry average of 12%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 66% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨105, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 12x in the Chemicals industry in Pakistan. Total returns to shareholders of 313% over the past three years. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨98.36, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 13x in the Chemicals industry in Pakistan. Total returns to shareholders of 378% over the past three years. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to PK₨89.63, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 11x in the Chemicals industry in Pakistan. Total returns to shareholders of 285% over the past three years. New Risk • May 01
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). High level of non-cash earnings (21% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (PK₨7.00b market cap, or US$24.9m). Reported Earnings • Feb 20
Second quarter 2025 earnings released: EPS: PK₨3.52 (vs PK₨2.08 in 2Q 2024) Second quarter 2025 results: EPS: PK₨3.52 (up from PK₨2.08 in 2Q 2024). Revenue: PK₨6.55b (up 18% from 2Q 2024). Net income: PK₨352.3m (up 70% from 2Q 2024). Profit margin: 5.4% (up from 3.7% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Feb 16
Dividend of PK₨2.00 announced Shareholders will receive a dividend of PK₨2.00. Ex-date: 27th February 2025 Payment date: 21st March 2025 Dividend yield will be 6.1%, which is lower than the industry average of 12%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but not covered by cash flows (410% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 31% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨81.14, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 9x in the Chemicals industry in Pakistan. Total returns to shareholders of 264% over the past three years. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨56.84, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 9x in the Chemicals industry in Pakistan. Total returns to shareholders of 201% over the past three years. New Risk • Oct 31
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.8% Last year net profit margin: 8.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (410% cash payout ratio). Profit margins are more than 30% lower than last year (4.8% net profit margin). Market cap is less than US$100m (PK₨4.41b market cap, or US$15.9m). Annonce • Oct 05
Ittehad Chemicals Limited, Annual General Meeting, Oct 28, 2024 Ittehad Chemicals Limited, Annual General Meeting, Oct 28, 2024. Location: at the registered office of the company, 39-emoress road, lahore Pakistan Declared Dividend • Oct 04
Dividend of PK₨1.50 announced Shareholders will receive a dividend of PK₨1.50. Ex-date: 17th October 2024 Payment date: 18th November 2024 Dividend yield will be 7.5%, which is lower than the industry average of 12%. Sustainability & Growth Dividend is covered by earnings (22% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Declared Dividend • Apr 27
Dividend of PK₨1.00 announced Shareholders will receive a dividend of PK₨1.00. Ex-date: 7th May 2024 Payment date: 30th May 2024 Dividend yield will be 8.1%, which is lower than the industry average of 12%. Sustainability & Growth Dividend is covered by earnings (18% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Apr 12
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 20% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (20% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (PK₨3.89b market cap, or US$14.0m). Upcoming Dividend • Feb 26
Upcoming dividend of PK₨1.00 per share Eligible shareholders must have bought the stock before 04 March 2024. Payment date: 27 March 2024. The company last paid an ordinary dividend in April 2013. The average dividend yield among industry peers is 12%. Declared Dividend • Feb 23
Dividend of PK₨1.00 announced Shareholders will receive a dividend of PK₨1.00. Ex-date: 4th March 2024 Payment date: 27th March 2024 Dividend yield will be 8.3%, which is lower than the industry average of 12%. Upcoming Dividend • Oct 10
Upcoming dividend of PK₨1.25 per share at 12% yield Eligible shareholders must have bought the stock before 17 October 2023. Payment date: 17 November 2023. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 12%. Lower than top quartile of Pakistani dividend payers (13%). Lower than average of industry peers (15%). Reported Earnings • Oct 06
Full year 2023 earnings released: EPS: PK₨18.26 (vs PK₨4.14 in FY 2022) Full year 2023 results: EPS: PK₨18.26 (up from PK₨4.14 in FY 2022). Revenue: PK₨24.3b (up 55% from FY 2022). Net income: PK₨1.83b (up 341% from FY 2022). Profit margin: 7.5% (up from 2.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 02
Upcoming dividend of PK₨1.00 per share at 5.6% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 31 May 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Pakistani dividend payers (13%). Lower than average of industry peers (14%). Reported Earnings • Feb 26
Second quarter 2023 earnings released: EPS: PK₨6.18 (vs PK₨1.92 in 2Q 2022) Second quarter 2023 results: EPS: PK₨6.18 (up from PK₨1.92 in 2Q 2022). Revenue: PK₨6.41b (up 81% from 2Q 2022). Net income: PK₨617.9m (up 222% from 2Q 2022). Profit margin: 9.6% (up from 5.4% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 21
Upcoming dividend of PK₨1.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 28 February 2023. Payment date: 24 March 2023. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Pakistani dividend payers (13%). Lower than average of industry peers (13%). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Pervez Ismail was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Oct 31
Upcoming dividend of PK₨1.00 per share Eligible shareholders must have bought the stock before 07 November 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 6.9%. Lower than top quartile of Pakistani dividend payers (12%). Lower than average of industry peers (13%). Reported Earnings • Oct 08
Full year 2022 earnings released: EPS: PK₨4.14 (vs PK₨6.57 in FY 2021) Full year 2022 results: EPS: PK₨4.14 (down from PK₨6.57 in FY 2021). Revenue: PK₨15.7b (up 41% from FY 2021). Net income: PK₨414.4m (down 37% from FY 2021). Profit margin: 2.6% (down from 5.9% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Annonce • Jul 07
Ittehad Chemicals Limited Appoints Muhammad Asif Khan as Chief Financial Officer in Place of Shahbaz Ali Ittehad Chemicals Limited announced that Mr. Muhammad Asif Khan has been appointed as Chief Financial Officer of the Company with effect from July 05, 2022 in place of Mr. Shahbaz Ali. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Pervez Ismail was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Feb 16
Ittehad Chemicals Limited Announces Chief Financial Officer Changes Ittehad Chemicals Limited informed Pakistan Stock Exchange that Mr. Shahbaz Ali has been appointed as Chief Financial Officer of the company with effect from February 14, 2022 in place of Mr. Aamir Shehzad Mughal. Reported Earnings • Oct 28
First quarter 2022 earnings released: PK₨0.10 loss per share (vs PK₨2.01 profit in 1Q 2021) The company reported a mediocre first quarter result with weaker earnings and weaker control over costs, although revenues improved. First quarter 2022 results: Revenue: PK₨3.25b (up 36% from 1Q 2021). Net loss: PK₨8.56m (down 105% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 22
Full year 2021 earnings released: EPS PK₨7.75 (vs PK₨0.72 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: PK₨11.1b (up 26% from FY 2020). Net income: PK₨656.8m (up PK₨596.0m from FY 2020). Profit margin: 5.9% (up from 0.7% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improved over the past week After last week's 20% share price gain to PK₨41.03, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 8x in the Chemicals industry in Pakistan. Total returns to shareholders of 42% over the past three years. Reported Earnings • Apr 27
Third quarter 2021 earnings released: EPS PK₨1.06 (vs PK₨0.56 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: PK₨2.92b (up 22% from 3Q 2020). Net income: PK₨89.6m (up 88% from 3Q 2020). Profit margin: 3.1% (up from 2.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 1% per year. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorated over the past week After last week's 21% share price decline to PK₨35.30, the stock is trading at a trailing P/E ratio of 5.8x, down from the previous P/E ratio of 7.3x. This compares to an average P/E of 9x in the Chemicals industry in Pakistan. Total returns to shareholders over the past three years are 15%. Reported Earnings • Feb 25
Second quarter 2021 earnings released: EPS PK₨3.03 (vs PK₨0.30 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: PK₨2.90b (up 34% from 2Q 2020). Net income: PK₨257.0m (up PK₨231.9m from 2Q 2020). Profit margin: 8.9% (up from 1.2% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improved over the past week After last week's 18% share price gain to PK₨43.96, the stock is trading at a trailing P/E ratio of 12.9x, up from the previous P/E ratio of 10.9x. This compares to an average P/E of 12x in the Chemicals industry in Pakistan. Total returns to shareholders over the past three years are 66%. Is New 90 Day High Low • Feb 20
New 90-day high: PK₨40.11 The company is up 29% from its price of PK₨31.06 on 20 November 2020. The Pakistani market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 6.0% over the same period. Is New 90 Day High Low • Jan 12
New 90-day high: PK₨36.15 The company is up 21% from its price of PK₨29.96 on 14 October 2020. The Pakistani market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 9.0% over the same period. Reported Earnings • Oct 28
First quarter earnings released Over the last 12 months the company has reported total profits of PK₨287.9m, down 4.9% from the prior year. Total revenue was PK₨9.17b over the last 12 months, up 23% from the prior year. Valuation Update With 7 Day Price Move • Oct 23
Market bids up stock over the past week After last week's 15% share price gain to PK₨34.38, the stock is trading at a trailing P/E ratio of 47.9x, up from the previous P/E ratio of 41.6x. This compares to an average P/E of 17x in the Chemicals industry in Pakistan. Total returns to shareholders over the past three years are 64%. Is New 90 Day High Low • Oct 23
New 90-day high: PK₨34.38 The company is up 17% from its price of PK₨29.45 on 24 July 2020. The Pakistani market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 3.0% over the same period. Upcoming Dividend • Oct 09
Upcoming Dividend of PK₨1.00 Per Share Will be paid on the 17th of November to those who are registered shareholders by the 16th of October. The trailing yield of 3.4% is below the top quartile of Pakistani dividend payers (7.3%), and is lower than industry peers (9.3%). Reported Earnings • Oct 03
Full year earnings released - EPS PK₨0.72 Over the last 12 months the company has reported total profits of PK₨60.8m, down 85% from the prior year. Total revenue was PK₨8.86b over the last 12 months, up 33% from the prior year. Profit margins were 0.7%, which is lower than the 6.1% margin from last year. The decrease in margin was driven by higher expenses. Reported Earnings • Sep 20
Full year earnings released - EPS PK₨0.72 Over the last 12 months the company has reported total profits of PK₨60.8m, down 85% from the prior year. Total revenue was PK₨8.86b over the last 12 months, up 33% from the prior year. Profit margins were 0.7%, which is lower than the 6.1% margin from last year. The decrease in margin was driven by higher expenses. 
