New Risk • May 16
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 9.9% 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 Earnings have declined by 25% per year over the past 5 years. Market cap is less than US$10m (PK₨961.5m market cap, or US$3.45m). Minor Risk Share price has been volatile over the past 3 months (9.9% average weekly change). Reported Earnings • May 01
Third quarter 2026 earnings released: EPS: PK₨0.29 (vs PK₨0.90 in 3Q 2025) Third quarter 2026 results: EPS: PK₨0.29 (down from PK₨0.90 in 3Q 2025). Revenue: PK₨1.99b (up 22% from 3Q 2025). Net income: PK₨6.54m (down 68% from 3Q 2025). Profit margin: 0.3% (down from 1.2% in 3Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • Apr 21
Crescent Cotton Mills Limited to Report Q3, 2026 Results on Apr 29, 2026 Crescent Cotton Mills Limited announced that they will report Q3, 2026 results on Apr 29, 2026 Reported Earnings • Mar 02
Second quarter 2026 earnings released: EPS: PK₨0.91 (vs PK₨0.45 in 2Q 2025) Second quarter 2026 results: EPS: PK₨0.91 (up from PK₨0.45 in 2Q 2025). Revenue: PK₨1.22b (down 30% from 2Q 2025). Net income: PK₨20.7m (up 99% from 2Q 2025). Profit margin: 1.7% (up from 0.6% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Feb 19
Crescent Cotton Mills Limited to Report First Half, 2026 Results on Feb 27, 2026 Crescent Cotton Mills Limited announced that they will report first half, 2026 results on Feb 27, 2026 Announcement • Oct 24
Crescent Cotton Mills Limited to Report Q1, 2026 Results on Oct 30, 2025 Crescent Cotton Mills Limited announced that they will report Q1, 2026 results on Oct 30, 2025 New Risk • Oct 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 173% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.9% average weekly change). Earnings have declined by 7.2% per year over the past 5 years. Market cap is less than US$10m (PK₨1.36b market cap, or US$4.84m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.04% net profit margin). Reported Earnings • Oct 08
Full year 2025 earnings released Full year 2025 results: Revenue: PK₨5.99b (down 3.7% from FY 2024). Net income: PK₨2.17m (down 97% from FY 2024). Profit margin: 0% (down from 1.3% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Crescent Cotton Mills Limited, Annual General Meeting, Oct 28, 2025 Crescent Cotton Mills Limited, Annual General Meeting, Oct 28, 2025. Location: at registered office of the company, new lahore road, nishatabad, faisalabad Pakistan Announcement • Sep 21
Crescent Cotton Mills Limited to Report Fiscal Year 2025 Results on Sep 29, 2025 Crescent Cotton Mills Limited announced that they will report fiscal year 2025 results at 12:30 PM, Pakistan Standard Time on Sep 29, 2025 Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨61.78, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 11x in the Luxury industry in Pakistan. Total returns to shareholders of 75% over the past three years. Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨62.62, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 10x in the Luxury industry in Pakistan. Total returns to shareholders of 75% over the past three years. New Risk • Aug 01
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 Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 2.5% per year over the past 5 years. Market cap is less than US$10m (PK₨1.31b market cap, or US$4.63m). Minor Risk Profit margins are more than 30% lower than last year (0.8% net profit margin). Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to PK₨61.15, the stock trades at a trailing P/E ratio of 26.2x. Average trailing P/E is 8x in the Luxury industry in Pakistan. Total returns to shareholders of 37% over the past three years. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨53.80, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 8x in the Luxury industry in Pakistan. Total returns to shareholders of 11% over the past three years. Buy Or Sell Opportunity • May 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.8% to PK₨46.10. The fair value is estimated to be PK₨57.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years. Earnings per share has grown by 12%. New Risk • May 02
New major risk - Revenue and earnings growth Earnings have declined by 4.0% 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 Shares are highly illiquid. Earnings have declined by 4.0% per year over the past 5 years. Market cap is less than US$10m (PK₨1.21b market cap, or US$4.31m). Minor Risk Profit margins are more than 30% lower than last year (0.7% net profit margin). Reported Earnings • May 02
Third quarter 2025 earnings released: EPS: PK₨0.85 (vs PK₨1.04 in 3Q 2024) Third quarter 2025 results: EPS: PK₨0.85 (down from PK₨1.04 in 3Q 2024). Revenue: PK₨1.41b (down 4.7% from 3Q 2024). Net income: PK₨19.4m (down 18% from 3Q 2024). Profit margin: 1.4% (down from 1.6% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • Mar 02
Second quarter 2025 earnings released: EPS: PK₨0.83 (vs PK₨0.40 in 2Q 2024) Second quarter 2025 results: EPS: PK₨0.83 (up from PK₨0.40 in 2Q 2024). Revenue: PK₨1.65b (down 14% from 2Q 2024). Net income: PK₨18.7m (up 105% from 2Q 2024). Profit margin: 1.1% (up from 0.5% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to PK₨54.45, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 10x in the Luxury industry in Pakistan. Total loss to shareholders of 1.0% over the past three years. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to PK₨50.00, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 9x in the Luxury industry in Pakistan. Total loss to shareholders of 11% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to PK₨60.49, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 9x in the Luxury industry in Pakistan. Total returns to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to PK₨66.06, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 8x in the Luxury industry in Pakistan. Total returns to shareholders of 21% over the past three years. Reported Earnings • Oct 10
Full year 2024 earnings released: EPS: PK₨3.64 (vs PK₨6.11 in FY 2023) Full year 2024 results: EPS: PK₨3.64 (down from PK₨6.11 in FY 2023). Revenue: PK₨6.22b (down 7.2% from FY 2023). Net income: PK₨82.5m (down 40% from FY 2023). Profit margin: 1.3% (down from 2.1% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Oct 04
Crescent Cotton Mills Limited, Annual General Meeting, Oct 28, 2024 Crescent Cotton Mills Limited, Annual General Meeting, Oct 28, 2024. Location: registered office of the company, new lahore road, nishatabad, faisalabad Pakistan Reported Earnings • May 04
Third quarter 2024 earnings released: EPS: PK₨1.04 (vs PK₨70.28 in 3Q 2023) Third quarter 2024 results: EPS: PK₨1.04 (down from PK₨70.28 in 3Q 2023). Revenue: PK₨1.48b (down 53% from 3Q 2023). Net income: PK₨23.6m (down 99% from 3Q 2023). Profit margin: 1.6% (down from 51% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Board Change • Apr 22
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. 4 experienced directors. 3 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Salman Rafi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Mar 03
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 26% 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 High level of non-cash earnings (26% accrual ratio). Market cap is less than US$10m (PK₨2.31b market cap, or US$8.28m). Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to PK₨69.21, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 5x in the Luxury industry in Pakistan. Total returns to shareholders of 81% over the past three years. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨53.16, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 5x in the Luxury industry in Pakistan. Total returns to shareholders of 39% over the past three years. Board Change • Dec 18
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 Salman Rafi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to PK₨50.95, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 4x in the Luxury industry in Pakistan. Total returns to shareholders of 35% over the past three years. Board Change • Nov 21
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 Salman Rafi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 06
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 Salman Rafi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Oct 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (PK₨787.4m market cap, or US$2.83m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.1% net profit margin). Reported Earnings • Oct 12
Full year 2023 earnings released: EPS: PK₨6.11 (vs PK₨11.48 in FY 2022) Full year 2023 results: EPS: PK₨6.11 (down from PK₨11.48 in FY 2022). Revenue: PK₨6.70b (down 10% from FY 2022). Net income: PK₨138.4m (down 47% from FY 2022). Profit margin: 2.1% (down from 3.5% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Board Change • Oct 06
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 Salman Rafi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jul 26
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 Salman Rafi was the last independent director to join the board, commencing their role in 2016. 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 • May 04
Third quarter 2023 earnings released: EPS: PK₨70.28 (vs PK₨4.11 in 3Q 2022) Third quarter 2023 results: EPS: PK₨70.28 (up from PK₨4.11 in 3Q 2022). Revenue: PK₨3.12b (up 77% from 3Q 2022). Net income: PK₨1.59b (up PK₨1.50b from 3Q 2022). Profit margin: 51% (up from 5.3% in 3Q 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • May 04
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 Salman Rafi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Feb 02
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. 4 experienced directors. 2 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Salman Rafi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Dec 01
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. 4 experienced directors. 2 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Salman Rafi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 17
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. 4 experienced directors. 2 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Salman Rafi was the last independent director to join the board, commencing their role in 2016. 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 13
Full year 2022 earnings released: EPS: PK₨11.73 (vs PK₨29.41 in FY 2021) Full year 2022 results: EPS: PK₨11.73 (down from PK₨29.41 in FY 2021). Revenue: PK₨7.47b (up 38% from FY 2021). Net income: PK₨260.1m (down 61% from FY 2021). Profit margin: 3.5% (down from 12% 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 89% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 11
Upcoming dividend of PK₨0.75 per share Eligible shareholders must have bought the stock before 18 October 2022. Payment date: 17 November 2022. Trailing yield: 2.1%. Lower than top quartile of Pakistani dividend payers (12%). Lower than average of industry peers (4.7%). Board Change • Aug 15
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. 4 experienced directors. 2 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Salman Rafi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • May 06
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. 4 experienced directors. 2 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Salman Rafi was the last independent director to join the board, commencing their role in 2016. 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 • Mar 03
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: PK₨2.13 (down from PK₨5.29 in 2Q 2021). Revenue: PK₨1.98b (up 68% from 2Q 2021). Net income: PK₨48.3m (down 60% from 2Q 2021). Profit margin: 2.4% (down from 10% in 2Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 121% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Board Change • Feb 28
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. 5 experienced directors. 1 highly experienced director. 2 independent directors (5 non-independent directors). Independent Director Salman Rafi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jan 27
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. 5 experienced directors. 1 highly experienced director. 2 independent directors (5 non-independent directors). Independent Director Salman Rafi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jan 11
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. 5 experienced directors. 1 highly experienced director. 2 independent directors (5 non-independent directors). Independent Director Salman Rafi was the last independent director to join the board, commencing their role in 2016. 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 • Nov 21
First quarter 2022 earnings released: EPS PK₨5.35 (vs PK₨1.09 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: PK₨1.65b (up 48% from 1Q 2021). Net income: PK₨121.3m (up 389% from 1Q 2021). Profit margin: 7.3% (up from 2.2% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 128% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 17
Full year 2021 earnings released: EPS PK₨36.33 (vs PK₨0.82 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: PK₨5.41b (down 2.0% from FY 2020). Net income: PK₨666.4m (up PK₨647.8m from FY 2020). Profit margin: 12% (up from 0.3% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 128% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improved over the past week After last week's 20% share price gain to PK₨60.00, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 6x in the Luxury industry in Pakistan. Total returns to shareholders of 139% over the past three years. Reported Earnings • May 02
Third quarter 2021 earnings released: EPS PK₨5.31 (vs PK₨0.64 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: PK₨1.39b (up 2.0% from 3Q 2020). Net income: PK₨120.3m (up PK₨105.8m from 3Q 2020). Profit margin: 8.7% (up from 1.1% in 3Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improved over the past week After last week's 20% share price gain to PK₨48.10, the stock is trading at a trailing P/E ratio of 11.8x, up from the previous P/E ratio of 9.8x. This compares to an average P/E of 9x in the Luxury industry in Pakistan. Total returns to shareholders over the past three years are 28%. Reported Earnings • Mar 04
Second quarter 2021 earnings released: EPS PK₨5.29 (vs PK₨0.76 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: PK₨1.18b (down 26% from 2Q 2020). Net income: PK₨119.8m (up PK₨102.6m from 2Q 2020). Profit margin: 10% (up from 1.1% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment deteriorated over the past week After last week's 16% share price decline to PK₨40.00, the stock is trading at a trailing P/E ratio of 16.9x, down from the previous P/E ratio of 20.2x. This compares to an average P/E of 9x in the Luxury industry in Pakistan. Total returns to shareholders over the past three years are 29%. Is New 90 Day High Low • Jan 12
New 90-day high: PK₨47.81 The company is up 77% from its price of PK₨27.00 on 13 October 2020. The Pakistani market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 18% over the same period. Is New 90 Day High Low • Dec 23
New 90-day high: PK₨44.48 The company is up 65% from its price of PK₨27.00 on 17 September 2020. The Pakistani market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 10.0% over the same period. Is New 90 Day High Low • Nov 27
New 90-day high: PK₨38.50 The company is up 43% from its price of PK₨27.00 on 25 August 2020. The Pakistani market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 1.0% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: PK₨37.99 The company is up 46% from its price of PK₨26.00 on 18 August 2020. The Pakistani market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 5.0% over the same period. Is New 90 Day High Low • Nov 14
New 90-day high: PK₨36.98 The company is up 32% from its price of PK₨28.00 on 13 August 2020. The Pakistani market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 2.0% over the same period. Valuation Update With 7 Day Price Move • Nov 14
Market bids up stock over the past week After last week's 19% share price gain to PK₨36.98, the stock is trading at a trailing P/E ratio of 16.5x, up from the previous P/E ratio of 13.8x. This compares to an average P/E of 9x in the Luxury industry in Pakistan. Total return to shareholders over the past three years is a loss of 14%. Valuation Update With 7 Day Price Move • Oct 23
Market bids up stock over the past week After last week's 24% share price gain to PK₨35.91, the stock is trading at a trailing P/E ratio of 43.8x, up from the previous P/E ratio of 35.4x. This compares to an average P/E of 8x in the Luxury industry in Pakistan. Total return to shareholders over the past three years is a loss of 17%. Is New 90 Day High Low • Oct 20
New 90-day high: PK₨31.19 The company is up 7.0% from its price of PK₨29.23 on 22 July 2020. The Pakistani market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Luxury industry, which is also up 7.0% over the same period. Announcement • Oct 02
Crescent Cotton Mills Limited to Report Fiscal Year 2020 Results on Oct 07, 2020 Crescent Cotton Mills Limited announced that they will report fiscal year 2020 results on Oct 07, 2020 
