Reported Earnings • Apr 25
Third quarter 2026 earnings released: EPS: PK₨2.62 (vs PK₨1.94 in 3Q 2025) Third quarter 2026 results: EPS: PK₨2.62 (up from PK₨1.94 in 3Q 2025). Revenue: PK₨21.8b (down 7.1% from 3Q 2025). Net income: PK₨629.1m (up 35% from 3Q 2025). Profit margin: 2.9% (up from 2.0% in 3Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Announcement • Apr 18
Nishat (Chunian) Limited to Report Q3, 2026 Results on Apr 24, 2026 Nishat (Chunian) Limited announced that they will report Q3, 2026 results on Apr 24, 2026 Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to PK₨38.96, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 6x in the Luxury industry in Pakistan. Total returns to shareholders of 103% over the past three years. Reported Earnings • Mar 03
Second quarter 2026 earnings released: PK₨0.13 loss per share (vs PK₨0.93 profit in 2Q 2025) Second quarter 2026 results: PK₨0.13 loss per share (down from PK₨0.93 profit in 2Q 2025). Revenue: PK₨20.3b (down 1.9% from 2Q 2025). Net loss: PK₨30.7m (down 114% from profit in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Declared Dividend • Mar 02
Dividend of PK₨1.00 announced Dividend of PK₨1.00 is the same as last year. Ex-date: 9th March 2026 Payment date: 2nd April 2026 Dividend yield will be 5.0%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (39% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 57% to shift the payout ratio to a potentially unsustainable range, which is more than the 12% EPS decline seen over the last 5 years. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to PK₨38.55, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 9x in the Luxury industry in Pakistan. Total returns to shareholders of 87% over the past three years. New Risk • Feb 20
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 6.6% 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 Risks Interest payments are not well covered by earnings (1.5x net interest cover). Earnings have declined by 42% per year over the past 5 years. High level of non-cash earnings (24% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (PK₨9.88b market cap, or US$35.3m). Announcement • Feb 18
Nishat (Chunian) Limited to Report First Half, 2026 Results on Feb 25, 2026 Nishat (Chunian) Limited announced that they will report first half, 2026 results on Feb 25, 2026 Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨55.83, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 10x in the Luxury industry in Pakistan. Total returns to shareholders of 188% over the past three years. Price Target Changed • Jan 01
Price target increased by 31% to PK₨84.00 Up from PK₨64.00, the current price target is provided by 1 analyst. New target price is 82% above last closing price of PK₨46.15. Stock is up 27% over the past year. The company posted earnings per share of PK₨3.13 last year. New Risk • Oct 31
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% 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 Interest payments are not well covered by earnings (1.5x net interest cover). Earnings have declined by 42% per year over the past 5 years. High level of non-cash earnings (25% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (PK₨10.7b market cap, or US$38.2m). Reported Earnings • Oct 31
First quarter 2026 earnings released: EPS: PK₨2.15 (vs PK₨0.15 in 1Q 2025) First quarter 2026 results: EPS: PK₨2.15 (up from PK₨0.15 in 1Q 2025). Revenue: PK₨22.9b (down 1.6% from 1Q 2025). Net income: PK₨516.2m (up PK₨479.4m from 1Q 2025). Profit margin: 2.2% (up from 0.2% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Oct 24
Nishat (Chunian) Limited to Report Q1, 2026 Results on Oct 29, 2025 Nishat (Chunian) Limited announced that they will report Q1, 2026 results on Oct 29, 2025 Upcoming Dividend • Oct 06
Upcoming dividend of PK₨1.00 per share Eligible shareholders must have bought the stock before 13 October 2025. Payment date: 12 November 2025. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 4.4%. Lower than top quartile of Pakistani dividend payers (7.2%). Higher than average of industry peers (1.6%). Announcement • Sep 22
Nishat (Chunian) Limited, Annual General Meeting, Oct 22, 2025 Nishat (Chunian) Limited, Annual General Meeting, Oct 22, 2025. Location: registered office 31-q, gulberg-ii, lahore Pakistan Reported Earnings • May 01
Third quarter 2025 earnings released: EPS: PK₨1.94 (vs PK₨1.56 in 3Q 2024) Third quarter 2025 results: EPS: PK₨1.94 (up from PK₨1.56 in 3Q 2024). Revenue: PK₨23.4b (down 3.5% from 3Q 2024). Net income: PK₨465.3m (up 24% from 3Q 2024). Profit margin: 2.0% (up from 1.5% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. New Risk • Mar 06
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 5.7% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). Earnings have declined by 25% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (PK₨8.18b market cap, or US$29.2m). Reported Earnings • Mar 02
Second quarter 2025 earnings released: EPS: PK₨0.93 (vs PK₨3.76 loss in 2Q 2024) Second quarter 2025 results: EPS: PK₨0.93 (up from PK₨3.76 loss in 2Q 2024). Revenue: PK₨20.7b (up 2.7% from 2Q 2024). Net income: PK₨222.8m (up PK₨1.12b from 2Q 2024). Profit margin: 1.1% (up from net loss in 2Q 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Announcement • Jan 01
Nishat Chunian Limited Appoints Sehar Adil as A Director Nishat Chunian Limited announced the appointment of Ms. Sehar Adil as a Director of the company, effective December 31, 2024. This strategic move is set to enhance the leadership framework of the company. The decision to appoint Ms. Sehar Adil is part of Nishat Chunian Limited's ongoing efforts to strengthen its corporate governance and steer the company toward new growth opportunities. Her appointment is expected to bring a fresh perspective and valuable insights into the company's operations and strategic planning. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to PK₨33.95, the stock trades at a trailing P/E ratio of 35.4x. Average forward P/E is 14x in the Luxury industry in Pakistan. Total returns to shareholders of 15% over the past three years. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to PK₨37.40, the stock trades at a trailing P/E ratio of 38.9x. Average forward P/E is 14x in the Luxury industry in Pakistan. Total returns to shareholders of 43% over the past three years. Reported Earnings • Oct 31
First quarter 2025 earnings released: EPS: PK₨0.15 (vs PK₨2.15 in 1Q 2024) First quarter 2025 results: EPS: PK₨0.15 (down from PK₨2.15 in 1Q 2024). Revenue: PK₨23.3b (down 4.0% from 1Q 2024). Net income: PK₨36.8m (down 93% from 1Q 2024). Profit margin: 0.2% (down from 2.1% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to PK₨28.27, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 13x in the Luxury industry in Asia. Total returns to shareholders of 3.6% over the past three years. Reported Earnings • Sep 28
Full year 2024 earnings released: EPS: PK₨2.96 (vs PK₨3.63 loss in FY 2023) Full year 2024 results: EPS: PK₨2.96 (up from PK₨3.63 loss in FY 2023). Revenue: PK₨89.0b (up 26% from FY 2023). Net income: PK₨710.7m (up PK₨1.58b from FY 2023). Profit margin: 0.8% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. 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. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨30.79, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 6x in the Luxury industry in Asia. Total returns to shareholders of 17% over the past three years. Reported Earnings • May 02
Third quarter 2024 earnings released: EPS: PK₨1.56 (vs PK₨1.60 in 3Q 2023) Third quarter 2024 results: EPS: PK₨1.56 (down from PK₨1.60 in 3Q 2023). Revenue: PK₨24.3b (up 39% from 3Q 2023). Net income: PK₨374.2m (down 2.7% from 3Q 2023). Profit margin: 1.5% (down from 2.2% in 3Q 2023). 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 58 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 01
Second quarter 2024 earnings released: PK₨3.76 loss per share (vs PK₨7.12 loss in 2Q 2023) Second quarter 2024 results: PK₨3.76 loss per share (improved from PK₨7.12 loss in 2Q 2023). Revenue: PK₨20.2b (up 39% from 2Q 2023). Net loss: PK₨902.0m (loss narrowed 47% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Announcement • Jan 31
Nishat (Chunian) Limited Announces Changes in Company Secretary Role Nishat (Chunian) Limited, Mr. Danish Farooq has resigned from his role as Company Secretary, effective January 31, 2024. Following this departure, Mr. Umer Qureshi has been appointed to fill the vacancy, also effective January 31, 2024. This transition marks a new chapter in the company's governance and administrative leadership. Mr. Farooq's resignation concludes his tenure with Nishat (Chunian) Limited, during which he contributed to the company's administrative and governance frameworks. The reasons for his departure have not been disclosed, but the company has moved swiftly to ensure a seamless transition in leadership. Mr. Umer Qureshi, stepping into the role of Company Secretary, brings with him a fresh perspective and is expected to continue the work of his predecessor in maintaining the company's compliance with regulatory requirements and enhancing corporate governance standards. His appointment comes at a time when Nishat (Chunian) Limited, like many firms, faces the challenge of navigating a complex and ever-evolving business environment. The change in this key administrative position is of significant interest to shareholders and stakeholders of Nishat (Chunian) Limited, indicating the company's commitment to strong governance and effective management. As Mr. Qureshi assumes his new responsibilities, the company looks forward to benefiting from his contributions to its strategic objectives and operational efficiency. This leadership change reflects the dynamic nature of corporate governance and the importance of adaptability and continuity in corporate roles. Nishat (Chunian) Limited has expressed confidence in Mr. Qureshi's capabilities to steer the company's secretarial functions towards continued success and regulatory compliance. New Risk • Nov 01
New major risk - Revenue and earnings growth Earnings have declined by 5.0% 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 Interest payments are not well covered by earnings (1.1x net interest cover). Earnings have declined by 5.0% per year over the past 5 years. Minor Risk Market cap is less than US$100m (PK₨5.81b market cap, or US$20.6m). Reported Earnings • Oct 10
Full year 2023 earnings released: PK₨3.63 loss per share (vs PK₨35.92 profit in FY 2022) Full year 2023 results: PK₨3.63 loss per share (down from PK₨35.92 profit in FY 2022). Revenue: PK₨70.9b (down 19% from FY 2022). Net loss: PK₨871.9m (down 110% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 15% per year. Announcement • May 27
Nishat (Chunian) Limited Announces That Aftab Ahmad Khan Has Tendered His Resignation as Director Nishat (Chunian) Limited announced that Mr. Aftab Ahmad Khan has tendered his resignation as Director of Nishat (Chunian) Limited. The resignation, effective May 25, 2023, has left industry experts and stakeholders wondering about the reasons behind this sudden departure. Announcement • Feb 03
Nishat Chunian Limited Announces Management Changes Nishat Chunian Limited announced that Mr. Danish Farooq has been appointed as Company Secretary of the company with effect from February 02, 2023 in place of Ms. Samina Aslam. Price Target Changed • Nov 16
Price target decreased to PK₨51.50 Down from PK₨66.67, the current price target is an average from 2 analysts. New target price is 84% above last closing price of PK₨28.00. Stock is down 36% over the past year. The company posted earnings per share of PK₨35.92 last year. Board Change • Nov 16
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. 5 non-independent directors. Independent Director Faisal Fareed 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. Price Target Changed • Oct 29
Price target decreased to PK₨57.67 Down from PK₨66.67, the current price target is an average from 3 analysts. New target price is 99% above last closing price of PK₨28.92. Stock is down 39% over the past year. The company posted earnings per share of PK₨35.92 last year. Reported Earnings • Oct 13
Full year 2022 earnings released: EPS: PK₨35.92 (vs PK₨28.56 in FY 2021) Full year 2022 results: EPS: PK₨35.92 (up from PK₨28.56 in FY 2021). Revenue: PK₨88.0b (up 43% from FY 2021). Net income: PK₨8.63b (up 26% from FY 2021). Profit margin: 9.8% (down from 11% 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 53% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Oct 12
Upcoming dividend of PK₨4.00 per share Eligible shareholders must have bought the stock before 19 October 2022. Payment date: 17 November 2022. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 22%. Within top quartile of Pakistani dividend payers (12%). Higher than average of industry peers (4.7%). Announcement • Jul 23
Nishat Chunian Limited Announces Resignation of Babar Ali Khan as Chief Financial Officer Nishat Chunian Limited announced that Mr. Babar Ali Khan has resigned from the position of Chief Financial Officer of the company with effect from July 22, 2022. 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. 6 non-independent directors. Independent Director Muhammad Khan was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Feb 24
Upcoming dividend of PK₨3.00 per share Eligible shareholders must have bought the stock before 03 March 2022. Payment date: 29 March 2022. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 9.5%. Lower than top quartile of Pakistani dividend payers (9.8%). Higher than average of industry peers (3.7%). Reported Earnings • Oct 30
First quarter 2022 earnings released: EPS PK₨10.52 (vs PK₨4.04 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: PK₨20.7b (up 26% from 1Q 2021). Net income: PK₨2.53b (up 160% from 1Q 2021). Profit margin: 12% (up from 5.9% 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 13% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Oct 11
Upcoming dividend of PK₨5.00 per share Eligible shareholders must have bought the stock before 18 October 2021. Payment date: 18 November 2021. Trailing yield: 10%. Within top quartile of Pakistani dividend payers (10%). Higher than average of industry peers (3.6%). Reported Earnings • Sep 29
Full year 2021 earnings released: EPS PK₨28.56 (vs PK₨7.75 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: PK₨61.5b (up 24% from FY 2020). Net income: PK₨6.86b (up 269% from FY 2020). Profit margin: 11% (up from 3.8% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year and the company’s share price has also fallen by 3% per year. Reported Earnings • May 02
Third quarter 2021 earnings released: EPS PK₨9.33 (vs PK₨1.55 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: PK₨15.1b (up 14% from 3Q 2020). Net income: PK₨2.24b (up PK₨1.87b from 3Q 2020). Profit margin: 15% (up from 2.8% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Price Target Changed • Mar 16
Price target increased to PK₨58.69 Up from PK₨51.77, the current price target is provided by 1 analyst. New target price is 25% above last closing price of PK₨47.12. Stock is up 33% over the past year. Reported Earnings • Feb 26
Second quarter 2021 earnings released: EPS PK₨4.41 (vs PK₨3.02 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: PK₨13.3b (up 2.1% from 2Q 2020). Net income: PK₨1.06b (up 46% from 2Q 2020). Profit margin: 8.0% (up from 5.6% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 17
New 90-day high: PK₨53.85 The company is up 42% from its price of PK₨37.82 on 19 November 2020. The Pakistani market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 26% over the same period. Is New 90 Day High Low • Jan 02
New 90-day high: PK₨44.39 The company is up 15% from its price of PK₨38.55 on 02 October 2020. The Pakistani market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Luxury industry, which is up 16% over the same period. Is New 90 Day High Low • Dec 15
New 90-day high: PK₨42.64 The company is up 8.0% from its price of PK₨39.30 on 16 September 2020. The Pakistani market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 3.0% 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₨2.35b, down 22% from the prior year. Total revenue was PK₨50.8b over the last 12 months, down 8.4% from the prior year. Reported Earnings • Oct 05
Full year earnings released - EPS PK₨7.75 Over the last 12 months the company has reported total profits of PK₨1.86b, down 52% from the prior year. Total revenue was PK₨49.6b over the last 12 months, down 9.8% from the prior year. Profit margins were 3.8%, which is lower than the 7.1% margin from last year. The decrease in margin was driven by lower revenue. 
