New Risk • Jul 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: PK₨2.71b (US$9.75m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 36% per year over the past 5 years. Market cap is less than US$10m (PK₨2.71b market cap, or US$9.75m). Minor Risk Revenue is less than US$5m (PK₨503m revenue, or US$1.8m). Aankondiging • Apr 14
Altern Energy Limited to Report Q3, 2026 Results on Apr 21, 2026 Altern Energy Limited announced that they will report Q3, 2026 results on Apr 21, 2026 Reported Earnings • Feb 15
Second quarter 2026 earnings released: PK₨0.01 loss per share (vs PK₨15.85 loss in 2Q 2025) Second quarter 2026 results: PK₨0.01 loss per share (improved from PK₨15.85 loss in 2Q 2025). Net loss: PK₨5.28m (loss narrowed 100% from 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Aankondiging • Feb 04
Altern Energy Limited to Report First Half, 2026 Results on Feb 12, 2026 Altern Energy Limited announced that they will report first half, 2026 results on Feb 12, 2026 Aankondiging • Jan 03
Altern Energy Limited Approves Election of Directors, Effective from December 31, 2025 Altern Energy Limited informed that in the Extraordinary General Meeting held on December 31, 2025 at registered office of the Company, the Mr. Muhammad Saqlain Arshad and Mr. Saqib Sajjad directors have been elected in accordance with the provisions of section 159 of the Companies Act, 2017 for a term of three years commencing from December 31, 2025. Reported Earnings • Oct 08
Full year 2025 earnings released: PK₨12.54 loss per share (vs PK₨8.49 profit in FY 2024) Full year 2025 results: PK₨12.54 loss per share (down from PK₨8.49 profit in FY 2024). Revenue: PK₨7.97b (down 17% from FY 2024). Net loss: PK₨4.56b (down 248% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. New Risk • Sep 19
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 7.6% 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 Earnings have declined by 24% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (PK₨5.04b market cap, or US$17.9m). Reported Earnings • Sep 03
Full year 2025 earnings released: PK₨12.54 loss per share (vs PK₨8.49 profit in FY 2024) Full year 2025 results: PK₨12.54 loss per share (down from PK₨8.49 profit in FY 2024). Revenue: PK₨7.97b (down 17% from FY 2024). Net loss: PK₨4.56b (down 248% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Aankondiging • Sep 02
Altern Energy Limited, Annual General Meeting, Oct 27, 2025 Altern Energy Limited, Annual General Meeting, Oct 27, 2025. Location: at descon headquarters, 18 km, ferozepur road, lahore Pakistan Reported Earnings • May 02
Third quarter 2025 earnings released: EPS: PK₨0.31 (vs PK₨2.18 in 3Q 2024) Third quarter 2025 results: EPS: PK₨0.31 (down from PK₨2.18 in 3Q 2024). Net income: PK₨112.7m (down 86% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. New Risk • Feb 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 8.5% 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 Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 113% Earnings have declined by 0.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Market cap is less than US$100m (PK₨9.44b market cap, or US$33.8m). Reported Earnings • Feb 14
Second quarter 2025 earnings released: PK₨15.85 loss per share (vs PK₨2.97 profit in 2Q 2024) Second quarter 2025 results: PK₨15.85 loss per share (down from PK₨2.97 profit in 2Q 2024). Revenue: PK₨2.84b (down 6.1% from 2Q 2024). Net loss: PK₨5.76b (down PK₨6.84b from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 8% 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 • Nov 01
First quarter 2025 earnings released: EPS: PK₨3.51 (vs PK₨0.90 in 1Q 2024) First quarter 2025 results: EPS: PK₨3.51 (up from PK₨0.90 in 1Q 2024). Revenue: PK₨5.13b (up 196% from 1Q 2024). Net income: PK₨1.28b (up 292% from 1Q 2024). Profit margin: 25% (up from 19% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to PK₨24.47, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 3x in the Renewable Energy industry in Pakistan. Total returns to shareholders of 207% over the past three years. Aankondiging • Sep 24
Altern Energy Limited, Annual General Meeting, Oct 28, 2024 Altern Energy Limited, Annual General Meeting, Oct 28, 2024. Location: at descon headquarters, 18-km,ferozepur road, lahore Pakistan Reported Earnings • Sep 22
Full year 2024 earnings released: EPS: PK₨8.49 (vs PK₨11.78 in FY 2023) Full year 2024 results: EPS: PK₨8.49 (down from PK₨11.78 in FY 2023). Revenue: PK₨9.60b (down 43% from FY 2023). Net income: PK₨3.09b (down 28% from FY 2023). Profit margin: 32% (up from 25% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • May 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 6.8% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (PK₨9.63b market cap, or US$34.6m). Reported Earnings • May 16
Third quarter 2024 earnings released: EPS: PK₨2.18 (vs PK₨3.13 in 3Q 2023) Third quarter 2024 results: EPS: PK₨2.18 (down from PK₨3.13 in 3Q 2023). Revenue: PK₨2.17b (down 31% from 3Q 2023). Net income: PK₨791.9m (down 31% from 3Q 2023). Profit margin: 37% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨23.56, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 3x in the Renewable Energy industry in Pakistan. Total returns to shareholders of 187% over the past three years. Reported Earnings • Mar 09
Second quarter 2024 earnings released: EPS: PK₨2.97 (vs PK₨2.56 in 2Q 2023) Second quarter 2024 results: EPS: PK₨2.97 (up from PK₨2.56 in 2Q 2023). Revenue: PK₨3.02b (up 13% from 2Q 2023). Net income: PK₨1.08b (up 16% from 2Q 2023). Profit margin: 36% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jan 22
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 45% to PK₨22.37. The fair value is estimated to be PK₨18.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 12%. Reported Earnings • Dec 01
First quarter 2024 earnings released: EPS: PK₨0.90 (vs PK₨2.59 in 1Q 2023) First quarter 2024 results: EPS: PK₨0.90 (down from PK₨2.59 in 1Q 2023). Revenue: PK₨1.73b (down 53% from 1Q 2023). Net income: PK₨325.8m (down 65% from 1Q 2023). Profit margin: 19% (down from 25% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Upcoming Dividend • Nov 10
Upcoming dividend of PK₨4.75 per share at 20% yield Eligible shareholders must have bought the stock before 17 November 2023. Payment date: 12 December 2023. Trailing yield: 20%. Within top quartile of Pakistani dividend payers (13%). Lower than average of industry peers (30%). Reported Earnings • Oct 13
Full year 2023 earnings released: EPS: PK₨11.78 (vs PK₨3.72 in FY 2022) Full year 2023 results: EPS: PK₨11.78 (up from PK₨3.72 in FY 2022). Revenue: PK₨16.9b (down 10% from FY 2022). Net income: PK₨4.28b (up 217% from FY 2022). Profit margin: 25% (up from 7.2% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Buying Opportunity • Oct 02
Now 21% undervalued Over the last 90 days, the stock is up 1.2%. The fair value is estimated to be PK₨18.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has declined by 19%. New Risk • Aug 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 6.8% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Dividend per share is over 5x cash flows per share. Earnings have declined by 2.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (PK₨6.66b market cap, or US$22.6m). Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to PK₨14.80, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 4x in the Renewable Energy industry in Pakistan. Total loss to shareholders of 2.8% over the past three years. Aankondiging • Dec 31
Altern Energy Limited Announces Executive Changes Altern Energy Limited informed Pakistan Stock Exchange that Mr. Faisal Dawood has been appointed as Chairman of the Company with effect from December 31, 2022 in place of Mr. Taimur Dawood. Board Change • Nov 16
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 an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Nausheen Ahmad was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 12
Full year 2022 earnings released: EPS: PK₨3.72 (vs PK₨2.21 in FY 2021) Full year 2022 results: EPS: PK₨3.72 (up from PK₨2.21 in FY 2021). Revenue: PK₨18.8b (up 52% from FY 2021). Net income: PK₨1.35b (up 68% from FY 2021). Profit margin: 7.2% (up from 6.5% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 7 non-independent directors. Director Nausheen Ahmad was the last director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Feb 17
Altern Energy Limited Announces Executive Changes Altern Energy Limited announced that Mrs. Nausheen Ahmad has been appointed as Director of the company with effect from February 16, 2022 in place of Mrs. Mehreen Dawood. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 17% share price gain to PK₨27.67, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 5x in the Renewable Energy industry in Pakistan. Total returns to shareholders of 3.3% over the past three years. Board Change • Nov 25
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. 7 experienced directors. No highly experienced directors. 1 independent director (7 non-independent directors). Non-Executive Director Salih Merghani was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 29
First quarter 2022 earnings released: EPS PK₨2.15 (vs PK₨2.47 in 1Q 2021) The company reported a decent first quarter result with improved revenues, although earnings and profit margins were weaker. First quarter 2022 results: Revenue: PK₨5.93b (up 128% from 1Q 2021). Net income: PK₨782.6m (down 13% from 1Q 2021). Profit margin: 13% (down from 35% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment deteriorated over the past week After last week's 15% share price decline to PK₨23.00, the stock trades at a trailing P/E ratio of 10.4x. Average trailing P/E is 3x in the Renewable Energy industry in Pakistan. Total loss to shareholders of 21% over the past three years. Reported Earnings • Sep 30
Full year 2021 earnings released: EPS PK₨2.21 (vs PK₨9.31 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: PK₨12.4b (up 19% from FY 2020). Net income: PK₨803.6m (down 76% from FY 2020). Profit margin: 6.5% (down from 32% in FY 2020). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 25% share price gain to PK₨28.77, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 3x in the Renewable Energy industry in Pakistan. Total returns to shareholders of 5.6% over the past three years. Reported Earnings • Apr 28
Third quarter 2021 earnings released: EPS PK₨1.60 (vs PK₨0.60 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: PK₨1.72b (up 55% from 3Q 2020). Net income: PK₨580.4m (up 167% from 3Q 2020). Profit margin: 34% (up from 20% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improved over the past week After last week's 16% share price gain to PK₨28.05, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 3x in the Renewable Energy industry in Pakistan. Total loss to shareholders of 6.0% over the past three years. Is New 90 Day High Low • Mar 11
New 90-day low: PK₨23.13 The company is down 7.0% from its price of PK₨24.92 on 11 December 2020. The Pakistani market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 10.0% over the same period. Aankondiging • Mar 02
Altern Energy Limited Does Not Recommend Dividend for the Year 2020 The board of directors of Altern Energy Limited did not recommended the dividend for the Year 2020. Reported Earnings • Mar 02
Second quarter 2021 earnings released: PK₨0.35 loss per share (vs PK₨2.33 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: PK₨2.32b (down 14% from 2Q 2020). Net loss: PK₨127.6m (down 115% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 02
New 90-day high: PK₨30.00 The company is up 15% from its price of PK₨26.00 on 04 November 2020. The Pakistani market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Renewable Energy industry, which is up 16% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: PK₨27.74 The company is up 11% from its price of PK₨25.00 on 07 October 2020. The Pakistani market is also up 11% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Renewable Energy industry, which is up 20% over the same period. Reported Earnings • Oct 31
First quarter earnings released Over the last 12 months the company has reported total profits of PK₨3.76b, up 174% from the prior year. Total revenue was PK₨8.79b over the last 12 months, down 48% from the prior year. Reported Earnings • Oct 25
First quarter earnings released Over the last 12 months the company has reported total profits of PK₨3.76b, up 174% from the prior year. Total revenue was PK₨8.79b over the last 12 months, down 48% from the prior year. Is New 90 Day High Low • Oct 06
New 90-day low: PK₨23.50 The company is down 11% from its price of PK₨26.40 on 08 July 2020. The Pakistani market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 7.0% over the same period. Reported Earnings • Oct 01
Full year earnings released - EPS PK₨9.31 Over the last 12 months the company has reported total profits of PK₨3.38b, up 121% from the prior year. Total revenue was PK₨10.4b over the last 12 months, down 48% from the prior year. Profit margins were 32%, which is higher than the 7.7% margin from last year. The increase in margin was driven by lower expenses. 
