Reported Earnings • May 05
Third quarter 2026 earnings released: EPS: PK₨2.40 (vs PK₨0.82 in 3Q 2025) Third quarter 2026 results: EPS: PK₨2.40 (up from PK₨0.82 in 3Q 2025). Revenue: PK₨4.10b (up 3.5% from 3Q 2025). Net income: PK₨26.3m (up 194% from 3Q 2025). Profit margin: 0.6% (up from 0.2% in 3Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Announcement • Apr 22
Ellcot Spinning Mills Limited to Report Q3, 2026 Results on Apr 29, 2026 Ellcot Spinning Mills Limited announced that they will report Q3, 2026 results on Apr 29, 2026 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to PK₨125, the stock trades at a trailing P/E ratio of 52.3x. Average trailing P/E is 6x in the Luxury industry in Pakistan. Total returns to shareholders of 39% over the past three years. Reported Earnings • Feb 26
Second quarter 2026 earnings released: EPS: PK₨2.29 (vs PK₨1.50 in 2Q 2025) Second quarter 2026 results: EPS: PK₨2.29 (up from PK₨1.50 in 2Q 2025). Revenue: PK₨3.96b (down 5.0% from 2Q 2025). Net income: PK₨25.2m (up 53% from 2Q 2025). Profit margin: 0.6% (up from 0.4% in 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Announcement • Feb 18
Ellcot Spinning Mills Limited to Report First Half, 2026 Results on Feb 25, 2026 Ellcot Spinning Mills Limited announced that they will report first half, 2026 results on Feb 25, 2026 New Risk • Dec 15
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 9.5% 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 (1.8x net interest cover). Share price has been highly volatile over the past 3 months (9.5% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 251% Paying a dividend despite having no free cash flows. Earnings have declined by 31% per year over the past 5 years. High level of non-cash earnings (23% accrual ratio). Market cap is less than US$10m (PK₨1.23b market cap, or US$4.39m). Minor Risk Profit margins are more than 30% lower than last year (0.1% net profit margin). Reported Earnings • Nov 01
First quarter 2026 earnings released: EPS: PK₨2.30 (vs PK₨7.70 in 1Q 2025) First quarter 2026 results: EPS: PK₨2.30 (down from PK₨7.70 in 1Q 2025). Revenue: PK₨3.93b (down 1.4% from 1Q 2025). Net income: PK₨25.1m (down 70% from 1Q 2025). Profit margin: 0.6% (down from 2.1% in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Announcement • Oct 30
Ellcot Spinning Mills Limited to Report Q3, 2025 Results on Oct 29, 2025 Ellcot Spinning Mills Limited announced that they will report Q3, 2025 results on Oct 29, 2025 Upcoming Dividend • Oct 16
Upcoming dividend of PK₨4.00 per share Eligible shareholders must have bought the stock before 20 October 2025. Payment date: 18 November 2025. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Pakistani dividend payers (7.3%). Higher than average of industry peers (1.7%). Declared Dividend • Oct 02
Dividend reduced to PK₨4.00 Dividend of PK₨4.00 is 20% lower than last year. Ex-date: 20th October 2025 Payment date: 18th November 2025 Dividend yield will be 3.2%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but not covered by cash flows (377% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 71% to shift the payout ratio to a potentially unsustainable range, which is more than the 19% EPS decline seen over the last 5 years. Announcement • Oct 02
Ellcot Spinning Mills Limited, Annual General Meeting, Oct 28, 2025 Ellcot Spinning Mills Limited, Annual General Meeting, Oct 28, 2025. Location: at the registered office of the company situatd at, nagina house, 91-b-1,m.m. alam road, gulberg-iii, conference facility, lahore Pakistan Announcement • Oct 01
Ellcot Spinning Mills Limited announces Annual dividend, payable on November 18, 2025 Ellcot Spinning Mills Limited announced Annual dividend of PKR 4.0000 per share payable on November 18, 2025, ex-date on October 20, 2025 and record date on October 21, 2025. New Risk • Aug 09
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 8.3% 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 Risks Interest payments are not well covered by earnings (2.6x net interest cover). Earnings have declined by 15% per year over the past 5 years. Market cap is less than US$10m (PK₨1.30b market cap, or US$4.62m). Minor Risks Dividend is not well covered by cash flows (377% cash payout ratio). Share price has been volatile over the past 3 months (8.3% average weekly change). Reported Earnings • May 04
Third quarter 2025 earnings released: EPS: PK₨0.82 (vs PK₨0.95 in 3Q 2024) Third quarter 2025 results: EPS: PK₨0.82 (down from PK₨0.95 in 3Q 2024). Revenue: PK₨3.96b (flat on 3Q 2024). Net income: PK₨8.94m (down 14% from 3Q 2024). Profit margin: 0.2% (down from 0.3% in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 02
Second quarter 2025 earnings released: EPS: PK₨1.50 (vs PK₨2.11 in 2Q 2024) Second quarter 2025 results: EPS: PK₨1.50 (down from PK₨2.11 in 2Q 2024). Revenue: PK₨4.16b (up 9.2% from 2Q 2024). Net income: PK₨16.4m (down 29% from 2Q 2024). Profit margin: 0.4% (down from 0.6% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to PK₨119, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 9x in the Luxury industry in Pakistan. Total returns to shareholders of 1.4% over the past three years. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to PK₨100, the stock trades at a trailing P/E ratio of 5.1x. Average trailing P/E is 9x in the Luxury industry in Pakistan. Total loss to shareholders of 13% over the past three years. Buy Or Sell Opportunity • Feb 06
Now 24% undervalued Over the last 90 days, the stock has risen 15% to PK₨102. The fair value is estimated to be PK₨135, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has declined by 73%. Buy Or Sell Opportunity • Jan 16
Now 21% undervalued Over the last 90 days, the stock has risen 35% to PK₨106. The fair value is estimated to be PK₨135, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has declined by 73%. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to PK₨102, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 10x in the Luxury industry in Pakistan. Total loss to shareholders of 5.0% over the past three years. Buy Or Sell Opportunity • Dec 26
Now 26% undervalued Over the last 90 days, the stock has risen 19% to PK₨100.00. The fair value is estimated to be PK₨135, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has declined by 73%. New Risk • Nov 02
New major risk - Revenue and earnings growth Earnings have declined by 2.8% 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 (2.1x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 2.8% per year over the past 5 years. Market cap is less than US$10m (PK₨975.3m market cap, or US$3.51m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.4% net profit margin). Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to PK₨89.43, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 8x in the Luxury industry in Pakistan. Total loss to shareholders of 14% over the past three years. Declared Dividend • Oct 03
Dividend of PK₨5.00 announced Shareholders will receive a dividend of PK₨5.00. Ex-date: 18th October 2024 Payment date: 18th November 2024 Dividend yield will be 6.2%, which is higher than the industry average of 4.3%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Announcement • Oct 02
Ellcot Spinning Mills Limited, Annual General Meeting, Oct 28, 2024 Ellcot Spinning Mills Limited, Annual General Meeting, Oct 28, 2024. New Risk • Oct 01
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Shares are highly illiquid. Market cap is less than US$10m (PK₨921.2m market cap, or US$3.32m). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨94.00, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 6x in the Luxury industry in Pakistan. Total loss to shareholders of 9.0% over the past three years. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to PK₨95.50, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 5x in the Luxury industry in Pakistan. Total returns to shareholders of 1.3% over the past three years. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to PK₨79.00, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 5x in the Luxury industry in Pakistan. Total loss to shareholders of 12% over the past three years. Board Change • Nov 30
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. 10 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Mohammad Monnoo was the last independent 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. Board Change • Nov 10
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. 10 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Mohammad Monnoo was the last independent 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. Valuation Update With 7 Day Price Move • Oct 05
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 3x. Average trailing P/E is 3x in the Luxury industry in Pakistan. Total returns to shareholders of 27% over the past three years. Board Change • Sep 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. 10 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Mohammad Monnoo was the last independent 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. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to PK₨94.52, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 3x in the Luxury industry in Pakistan. Total returns to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨106, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 3x in the Luxury industry in Pakistan. Total returns to shareholders of 39% over the past three years. Reported Earnings • Mar 02
Second quarter 2023 earnings released: EPS: PK₨8.46 (vs PK₨38.57 in 2Q 2022) Second quarter 2023 results: EPS: PK₨8.46 (down from PK₨38.57 in 2Q 2022). Revenue: PK₨2.70b (up 3.7% from 2Q 2022). Net income: PK₨92.6m (down 78% from 2Q 2022). Profit margin: 3.4% (down from 16% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Board Change • Dec 20
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. 10 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Mohammad Monnoo was the last independent 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. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improved over the past week After last week's 29% share price gain to PK₨178, the stock trades at a trailing P/E ratio of 2x. Average trailing P/E is 2x in the Luxury industry in Pakistan. Total returns to shareholders of 195% over the past three years. 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. 10 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Mohammad Monnoo was the last independent 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 30
First quarter 2023 earnings released: EPS: PK₨11.88 (vs PK₨36.68 in 1Q 2022) First quarter 2023 results: EPS: PK₨11.88 (down from PK₨36.68 in 1Q 2022). Revenue: PK₨3.04b (up 27% from 1Q 2022). Net income: PK₨130.1m (down 68% from 1Q 2022). Profit margin: 4.3% (down from 17% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 12
Upcoming dividend of PK₨10.00 per share Eligible shareholders must have bought the stock before 19 October 2022. Payment date: 17 November 2022. Payout ratio is a comfortable 1.8% but the company is not cash flow positive. Trailing yield: 7.6%. Lower than top quartile of Pakistani dividend payers (12%). Higher than average of industry peers (4.7%). Board Change • Sep 14
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. 10 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Mohammad Monnoo was the last independent 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. Board Change • May 23
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. 9 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Mohammad Monnoo was the last independent 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. Board Change • Apr 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 an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Mohammad Monnoo was the last independent 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. Board Change • Mar 22
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. 9 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Mohammad Monnoo was the last independent 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 28
First quarter 2022 earnings released: EPS PK₨36.68 (vs PK₨2.97 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: PK₨2.39b (up 54% from 1Q 2021). Net income: PK₨401.6m (up PK₨369.1m from 1Q 2021). Profit margin: 17% (up from 2.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 65% 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 • Oct 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 an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Mohammad Monnoo was the last independent 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. Upcoming Dividend • Oct 13
Upcoming dividend of PK₨2.50 per share Eligible shareholders must have bought the stock before 20 October 2021. Payment date: 18 November 2021. Trailing yield: 7.1%. Lower than top quartile of Pakistani dividend payers (10%). Higher than average of industry peers (3.7%). Reported Earnings • Sep 29
Full year 2021 earnings released: EPS PK₨74.30 (vs PK₨20.63 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: PK₨7.72b (up 25% from FY 2020). Net income: PK₨813.6m (up 260% from FY 2020). Profit margin: 11% (up from 3.7% 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 49% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improved over the past week After last week's 16% share price gain to PK₨153, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 6x in the Luxury industry in Pakistan. Total returns to shareholders of 167% over the past three years. Upcoming Dividend • May 05
Upcoming dividend of PK₨7.50 per share Eligible shareholders must have bought the stock before 12 May 2021. Payment date: 04 June 2021. Trailing yield: 6.5%. Lower than top quartile of Pakistani dividend payers (8.7%). Higher than average of industry peers (3.6%). Reported Earnings • May 02
Third quarter 2021 earnings released: EPS PK₨27.79 (vs PK₨8.60 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: PK₨2.10b (up 25% from 3Q 2020). Net income: PK₨304.3m (up 223% from 3Q 2020). Profit margin: 14% (up from 5.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 28
Second quarter 2021 earnings released: EPS PK₨10.40 (vs PK₨5.13 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₨1.71b (down 1.8% from 2Q 2020). Net income: PK₨113.9m (up 103% from 2Q 2020). Profit margin: 6.7% (up from 3.2% 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 31% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 18% share price gain to PK₨114, the stock is trading at a trailing P/E ratio of 7.5x, up from the previous P/E ratio of 6.3x. This compares to an average P/E of 8x in the Luxury industry in Pakistan. Total returns to shareholders over the past three years are 73%. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improved over the past week After last week's 18% share price gain to PK₨99.99, the stock is trading at a trailing P/E ratio of 6.6x, up from the previous P/E ratio of 5.6x. 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 52%. Reported Earnings • Oct 30
First quarter earnings released Over the last 12 months the company has reported total profits of PK₨167.0m, down 34% from the prior year. Total revenue was PK₨6.27b over the last 12 months, largely unchanged from the prior year. Reported Earnings • Oct 08
Full year earnings released - EPS PK₨20.63 Over the last 12 months the company has reported total profits of PK₨225.9m, up 10.0% from the prior year. Total revenue was PK₨6.15b over the last 12 months, down 3.0% from the prior year. Profit margins were 3.7%, which is in line with last year. Reported Earnings • Sep 27
Full year earnings released - EPS PK₨20.63 Over the last 12 months the company has reported total profits of PK₨225.9m, up 10.0% from the prior year. Total revenue was PK₨6.15b over the last 12 months, down 3.0% from the prior year. Profit margins were 3.7%, which is in line with last year. 
