Aankondiging • Apr 10
Tri-Pack Films Limited to Report Q1, 2026 Results on Apr 17, 2026 Tri-Pack Films Limited announced that they will report Q1, 2026 results at 12:30 PM, Pakistan Standard Time on Apr 17, 2026 New Risk • Apr 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Pakistani stocks, typically moving 10% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.9x net interest cover). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 46% per year over the past 5 years. Minor Risk Market cap is less than US$100m (PK₨4.89b market cap, or US$17.5m). Buy Or Sell Opportunity • Apr 08
Now 24% overvalued Over the last 90 days, the stock has fallen 18% to PK₨126. The fair value is estimated to be PK₨101, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Apr 02
Full year 2025 earnings released: PK₨9.45 loss per share (vs PK₨11.12 loss in FY 2024) Full year 2025 results: PK₨9.45 loss per share (improved from PK₨11.12 loss in FY 2024). Revenue: PK₨30.2b (up 2.7% from FY 2024). Net loss: PK₨366.7m (loss narrowed 15% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Mar 09
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to PK₨123. The fair value is estimated to be PK₨163, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company became loss making. Aankondiging • Mar 02
Tri-Pack Films Limited, Annual General Meeting, Apr 21, 2026 Tri-Pack Films Limited, Annual General Meeting, Apr 21, 2026. Location: karachi Pakistan Aankondiging • Feb 20
Tri-Pack Films Limited to Report Fiscal Year 2025 Results on Feb 26, 2026 Tri-Pack Films Limited announced that they will report fiscal year 2025 results on Feb 26, 2026 New Risk • Feb 06
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 Risks Interest payments are not well covered by earnings (0.1x net interest cover). Earnings have declined by 38% per year over the past 5 years. 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₨6.07b market cap, or US$21.7m). Buy Or Sell Opportunity • Jan 22
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to PK₨158. The fair value is estimated to be PK₨127, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Dec 09
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to PK₨153. The fair value is estimated to be PK₨127, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: PK₨2.46 (vs PK₨8.94 loss in 3Q 2024) Third quarter 2025 results: EPS: PK₨2.46 (up from PK₨8.94 loss in 3Q 2024). Revenue: PK₨8.77b (up 6.3% from 3Q 2024). Net income: PK₨95.3m (up PK₨442.1m from 3Q 2024). Profit margin: 1.1% (up from net loss in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 17
Second quarter 2025 earnings released: PK₨11.28 loss per share (vs PK₨1.76 profit in 2Q 2024) Second quarter 2025 results: PK₨11.28 loss per share (down from PK₨1.76 profit in 2Q 2024). Revenue: PK₨6.70b (flat on 2Q 2024). Net loss: PK₨437.8m (down PK₨506.0m from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. New Risk • Aug 13
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 7.9% 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 Risks Interest payments are not well covered by earnings (0.7x net interest cover). Earnings have declined by 9.6% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (PK₨5.29b market cap, or US$18.7m). Aankondiging • Aug 02
Tri-Pack Films Limited to Report First Half, 2025 Results on Aug 08, 2025 Tri-Pack Films Limited announced that they will report first half, 2025 results on Aug 08, 2025 New Risk • Apr 24
New major risk - Revenue and earnings growth Earnings have declined by 9.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Earnings have declined by 9.6% per year over the past 5 years. Minor Risk Market cap is less than US$100m (PK₨4.95b market cap, or US$17.6m). Reported Earnings • Mar 29
Full year 2024 earnings released: PK₨11.12 loss per share (vs PK₨25.24 profit in FY 2023) Full year 2024 results: PK₨11.12 loss per share (down from PK₨25.24 profit in FY 2023). Revenue: PK₨29.4b (up 18% from FY 2023). Net loss: PK₨431.4m (down 144% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 20
Full year 2024 earnings released: PK₨11.12 loss per share (vs PK₨25.24 profit in FY 2023) Full year 2024 results: PK₨11.12 loss per share (down from PK₨25.24 profit in FY 2023). Revenue: PK₨29.4b (up 18% from FY 2023). Net loss: PK₨431.4m (down 144% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Aankondiging • Feb 17
Tri-Pack Films Limited, Annual General Meeting, Apr 15, 2025 Tri-Pack Films Limited, Annual General Meeting, Apr 15, 2025. Location: karachi Pakistan Reported Earnings • Oct 24
Third quarter 2024 earnings released: PK₨8.94 loss per share (vs PK₨3.56 profit in 3Q 2023) Third quarter 2024 results: PK₨8.94 loss per share (down from PK₨3.56 profit in 3Q 2023). Revenue: PK₨8.25b (up 19% from 3Q 2023). Net loss: PK₨346.8m (down 351% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. New Risk • Sep 24
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: 1.3% Last year net profit margin: 4.9% 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: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). High level of non-cash earnings (69% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (PK₨4.29b market cap, or US$15.4m). New Risk • May 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 6.0% 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 (6.0% operating cash flow to total debt). High level of non-cash earnings (59% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (PK₨4.63b market cap, or US$16.6m). Upcoming Dividend • Apr 08
Upcoming dividend of PK₨6.00 per share Eligible shareholders must have bought the stock before 15 April 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 4.3%. Lower than top quartile of Pakistani dividend payers (13%). Lower than average of industry peers (10%). New Risk • Apr 04
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). High level of non-cash earnings (35% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (PK₨5.41b market cap, or US$19.5m). Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: PK₨3.56 (vs PK₨5.59 in 3Q 2022) Third quarter 2023 results: EPS: PK₨3.56 (down from PK₨5.59 in 3Q 2022). Revenue: PK₨6.95b (up 6.2% from 3Q 2022). Net income: PK₨138.2m (down 36% from 3Q 2022). Profit margin: 2.0% (down from 3.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. New Risk • Oct 18
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 6.1% 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 High level of debt (67% net debt to equity). Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (PK₨5.39b market cap, or US$19.5m). Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: PK₨10.54 (vs PK₨4.10 in 2Q 2022) Second quarter 2023 results: EPS: PK₨10.54 (up from PK₨4.10 in 2Q 2022). Revenue: PK₨5.64b (down 11% from 2Q 2022). Net income: PK₨409.0m (up 157% from 2Q 2022). Profit margin: 7.3% (up from 2.5% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to PK₨114, the stock trades at a trailing P/E ratio of 5.1x. Average trailing P/E is 8x in the Chemicals industry in Pakistan. Total returns to shareholders of 53% over the past three years. Upcoming Dividend • Mar 24
Upcoming dividend of PK₨5.00 per share at 4.0% yield Eligible shareholders must have bought the stock before 31 March 2023. Payment date: 04 May 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Pakistani dividend payers (13%). Lower than average of industry peers (14%). Board Change • Nov 16
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 Saquib Shirazi was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: PK₨5.59 (vs PK₨5.05 in 3Q 2021) Third quarter 2022 results: EPS: PK₨5.59 (up from PK₨5.05 in 3Q 2021). Revenue: PK₨6.54b (up 23% from 3Q 2021). Net income: PK₨217.0m (up 11% from 3Q 2021). Profit margin: 3.3% (down from 3.7% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 01
Second quarter 2022 earnings released: EPS: PK₨4.10 (vs PK₨7.12 in 2Q 2021) Second quarter 2022 results: EPS: PK₨4.10 (down from PK₨7.12 in 2Q 2021). Revenue: PK₨6.32b (up 64% from 2Q 2021). Net income: PK₨158.9m (down 43% from 2Q 2021). Profit margin: 2.5% (down from 7.2% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 01
First quarter 2022 earnings released: EPS: PK₨6.27 (vs PK₨9.30 in 1Q 2021) First quarter 2022 results: EPS: PK₨6.27 (down from PK₨9.30 in 1Q 2021). Revenue: PK₨5.56b (up 18% from 1Q 2021). Net income: PK₨243.4m (down 33% from 1Q 2021). Profit margin: 4.4% (down from 7.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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 Saquib Shirazi was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 05
Upcoming dividend of PK₨13.00 per share Eligible shareholders must have bought the stock before 12 April 2022. Payment date: 16 May 2022. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 7.3%. Lower than top quartile of Pakistani dividend payers (11%). Lower than average of industry peers (12%). Board Change • Dec 23
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Saquib Shirazi was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 22
Third quarter 2021 earnings released: EPS PK₨5.05 (vs PK₨4.87 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: PK₨5.33b (up 24% from 3Q 2020). Net income: PK₨196.0m (up 3.7% from 3Q 2020). Profit margin: 3.7% (down from 4.4% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS PK₨7.12 (vs PK₨6.56 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: PK₨3.85b (up 21% from 2Q 2020). Net income: PK₨276.2m (up 8.6% from 2Q 2020). Profit margin: 7.2% (down from 8.0% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improved over the past week After last week's 15% share price gain to PK₨214, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 8x in the Chemicals industry in Pakistan. Total returns to shareholders of 70% over the past three years. Reported Earnings • Apr 21
First quarter 2021 earnings released: EPS PK₨9.30 (vs PK₨4.88 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: PK₨4.72b (up 36% from 1Q 2020). Net income: PK₨360.9m (up PK₨550.1m from 1Q 2020). Profit margin: 7.7% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 29
Upcoming dividend of PK₨5.00 per share Eligible shareholders must have bought the stock before 05 April 2021. Payment date: 05 May 2021. Trailing yield: 3.0%. Lower than top quartile of Pakistani dividend payers (8.8%). Lower than average of industry peers (8.7%). Reported Earnings • Mar 26
Full year 2020 earnings released: EPS PK₨15.83 (vs PK₨7.99 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: PK₨15.1b (up 2.8% from FY 2019). Net income: PK₨614.1m (up PK₨923.9m from FY 2019). Profit margin: 4.1% (up from net loss in FY 2019). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Aankondiging • Mar 17
Tri-Pack Films Limited Announces Appointment of Yohei Shiomoto as Director Tri-Pack Films Limited announced that Mr. Yohei Shiomoto has been appointed as director of the company with effect from March 15, 2021 in place of Mr. Atsushi Fujii. Executive Departure • Mar 17
Non-Executive Director has left the company On the 15th of March, Atsushi Fujii's tenure as Non-Executive Director ended after 2.0 years in the role. We don't have any record of a personal shareholding under Atsushi's name. A total of 4 executives have left over the last 12 months. Is New 90 Day High Low • Feb 18
New 90-day high: PK₨185 The company is up 11% from its price of PK₨167 on 20 November 2020. The Pakistani market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Chemicals industry, which is up 6.0% over the same period. Executive Departure • Feb 04
Acting Company Secretary has left the company On the 29th of January, Sajjad Iftikhar's tenure as Acting Company Secretary ended after less than a year in the role. We don't have any record of a personal shareholding under Sajjad's name. A total of 3 executives have left over the last 12 months. Aankondiging • Jan 31
Tri-Pack Films Limited Announces Executive Changes Tri-Pack Films Limited announced that it Ms. Arjumand Ahmed Shah has been appointed as company Secretary of the Company with effect from January 29, 2021 in place of Mr. Sajjad Iftikhar. Is New 90 Day High Low • Jan 29
New 90-day high: PK₨184 The company is up 14% from its price of PK₨161 on 29 October 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 7.0% over the same period. Valuation Update With 7 Day Price Move • Nov 09
Market bids up stock over the past week After last week's 17% share price gain to PK₨184, the stock is trading at a trailing P/E ratio of 21.1x, up from the previous P/E ratio of 18x. This compares to an average P/E of 13x in the Chemicals industry in Pakistan. Total returns to shareholders over the past three years are 38%. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of PK₨337.9m, with earnings increasing by PK₨806.2m from the prior year. Total revenue was PK₨15.0b over the last 12 months, up 7.2% from the prior year. Aankondiging • Oct 18
Tri-Pack Films Limited Announces Demise of Mr. Adi Jehangir Cawasji as Company Secretary Tri-Pack Films Limited announced at the board meeting held on October 16, 2020, the board announced that demise of Mr. Adi Jehangir Cawasji as company secretary. Is New 90 Day High Low • Oct 15
New 90-day high: PK₨192 The company is up 70% from its price of PK₨113 on 17 July 2020. The Pakistani market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 1.0% over the same period.