Reported Earnings • May 05
First quarter 2026 earnings released: EPS: PK₨0.50 (vs PK₨0.47 in 1Q 2025) First quarter 2026 results: EPS: PK₨0.50 (up from PK₨0.47 in 1Q 2025). Revenue: PK₨677.1m (up 56% from 1Q 2025). Net income: PK₨210.5m (up 52% from 1Q 2025). Profit margin: 31% (in line with 1Q 2025). 공시 • Apr 27
Secure Logistics - Trax Group Limited to Report Q1, 2026 Results on Apr 29, 2026 Secure Logistics - Trax Group Limited announced that they will report Q1, 2026 results on Apr 29, 2026 Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨16.21, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 14x in the Transportation industry in Asia. Total returns to shareholders of 20% over the past year. 공시 • Mar 30
Secure Logistics - Trax Group Limited, Annual General Meeting, Apr 20, 2026 Secure Logistics - Trax Group Limited, Annual General Meeting, Apr 20, 2026. Location: at islamabad stock exchange tower, islamabad Pakistan Reported Earnings • Mar 28
Full year 2025 earnings released: EPS: PK₨2.50 (vs PK₨2.41 in FY 2024) Full year 2025 results: EPS: PK₨2.50 (up from PK₨2.41 in FY 2024). Revenue: PK₨2.94b (up 17% from FY 2024). Net income: PK₨856.4m (up 44% from FY 2024). Profit margin: 29% (up from 24% in FY 2024). 공시 • Mar 24
Secure Logistics - Trax Group Limited to Report Fiscal Year 2025 Results on Mar 26, 2026 Secure Logistics - Trax Group Limited announced that they will report fiscal year 2025 results on Mar 26, 2026 New Risk • Feb 23
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 6.5% 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 Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (PK₨8.05b market cap, or US$28.8m). Board Change • Nov 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Shahbaz Agha was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 공시 • Oct 24
Secure Logistics - Trax Group Limited to Report Q3, 2025 Results on Oct 30, 2025 Secure Logistics - Trax Group Limited announced that they will report Q3, 2025 results on Oct 30, 2025 New Risk • Aug 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 53% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risk Market cap is less than US$100m (PK₨7.43b market cap, or US$26.4m). Reported Earnings • Aug 23
Second quarter 2025 earnings released: EPS: PK₨1.15 (vs PK₨0.43 in 2Q 2024) Second quarter 2025 results: EPS: PK₨1.15 (up from PK₨0.43 in 2Q 2024). Revenue: PK₨1.02b (up 59% from 2Q 2024). Net income: PK₨296.3m (up 150% from 2Q 2024). Profit margin: 29% (up from 18% in 2Q 2024). The increase in margin was driven by higher revenue. 공시 • Aug 16
Secure Logistics - Trax Group Limited to Report First Half, 2025 Results on Aug 21, 2025 Secure Logistics - Trax Group Limited announced that they will report first half, 2025 results on Aug 21, 2025 Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨17.74, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 15x in the Transportation industry in Asia. Total returns to shareholders of 109% over the past year. Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to PK₨13.12, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 14x in the Transportation industry in Asia. Total returns to shareholders of 41% over the past year. New Risk • Apr 25
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 6.4% 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: Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (PK₨4.62b market cap, or US$16.4m). Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨15.76, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 13x in the Transportation industry in Asia. Reported Earnings • Apr 11
Full year 2024 earnings released: EPS: PK₨2.43 (vs PK₨2.21 in FY 2023) Full year 2024 results: EPS: PK₨2.43 (up from PK₨2.21 in FY 2023). Revenue: PK₨2.52b (up 23% from FY 2023). Net income: PK₨595.6m (up 62% from FY 2023). Profit margin: 24% (up from 18% in FY 2023). The increase in margin was driven by higher revenue. 공시 • Apr 08
Secure Logistics Group Limited, Annual General Meeting, Apr 28, 2025 Secure Logistics Group Limited, Annual General Meeting, Apr 28, 2025, at 15:00 W. Europe Standard Time. New Risk • Feb 21
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (20% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (PK₨4.04b market cap, or US$14.5m). Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨17.72, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 14x in the Transportation industry in Asia. New Risk • Sep 24
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 Risks Share price has been highly volatile over the past 3 months (10% average weekly change). High level of non-cash earnings (20% accrual ratio). Minor Risk Market cap is less than US$100m (PK₨4.82b market cap, or US$17.3m). Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨19.42, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 15x in the Transportation industry in Asia. New Risk • Aug 27
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 7.3% 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 Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (PK₨3.37b market cap, or US$12.1m). 공시 • May 15
Secure Logistics Group Limited, Annual General Meeting, May 31, 2024 Secure Logistics Group Limited, Annual General Meeting, May 31, 2024. Location: islamabad Pakistan 공시 • Apr 23
Secure Logistics Group Limited has completed an IPO in the amount of PKR 600 million. Secure Logistics Group Limited has completed an IPO in the amount of PKR 600 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,000,000
Price\Range: PKR 12
Discount Per Security: PKR 0.24 Board Change • Apr 23
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Shahbaz Agha was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.