Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨21.97, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 8x in the Capital Markets industry in Pakistan. Total returns to shareholders of 410% over the past three years. Announcement • Apr 15
Sindh Modaraba to Report Q3, 2026 Results on Apr 22, 2026 Sindh Modaraba announced that they will report Q3, 2026 results on Apr 22, 2026 Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to PK₨22.09, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 8x in the Capital Markets industry in Pakistan. Total returns to shareholders of 346% over the past three years. Announcement • Jan 21
Sindh Modaraba to Report Q2, 2026 Results on Jan 28, 2026 Sindh Modaraba announced that they will report Q2, 2026 results on Jan 28, 2026 Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to PK₨24.27, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 8x in the Capital Markets industry in Pakistan. Total returns to shareholders of 382% over the past three years. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to PK₨19.86, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 7x in the Capital Markets industry in Pakistan. Total returns to shareholders of 275% over the past three years. Upcoming Dividend • Oct 08
Upcoming dividend of PK₨1.35 per share Eligible shareholders must have bought the stock before 15 October 2025. Payment date: 14 November 2025. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 6.6%. Lower than top quartile of Pakistani dividend payers (7.3%). Higher than average of industry peers (5.4%). Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨21.92, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 9x in the Capital Markets industry in Pakistan. Total returns to shareholders of 319% over the past three years. Announcement • Sep 22
Sindh Modaraba, Annual General Meeting, Oct 24, 2025 Sindh Modaraba, Annual General Meeting, Oct 24, 2025. Declared Dividend • Sep 21
Dividend increased to PK₨1.35 Dividend of PK₨1.35 is 8.0% higher than last year. Ex-date: 15th October 2025 Payment date: 14th November 2025 Dividend yield will be 6.9%, which is lower than the industry average of 8.3%. Sustainability & Growth Dividend is covered by earnings (33% 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 23% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 20
Sindh Modaraba announces Annual dividend, payable on November 14, 2025 Sindh Modaraba announced Annual dividend of PKR 1.3500 per share payable on November 14, 2025, ex-date on October 15, 2025 and record date on October 16, 2025. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to PK₨18.61, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 7x in the Capital Markets industry in Pakistan. Total returns to shareholders of 247% over the past three years. New Risk • Aug 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Pakistani stocks, typically moving 8.0% 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 High level of non-cash earnings (41% accrual ratio). Market cap is less than US$10m (PK₨707.9m market cap, or US$2.51m). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.0% average weekly change). Revenue is less than US$5m (PK₨353m revenue, or US$1.3m). Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to PK₨15.73, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 7x in the Capital Markets industry in Pakistan. Total returns to shareholders of 223% over the past three years. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to PK₨13.20, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 6x in the Capital Markets industry in Pakistan. Total returns to shareholders of 189% over the past three years. New Risk • May 07
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 41% 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 (41% accrual ratio). Market cap is less than US$10m (PK₨486.0m market cap, or US$1.73m). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.7% average weekly change). Revenue is less than US$5m (PK₨353m revenue, or US$1.3m). New Risk • Mar 31
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 6.7% 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 Market cap is less than US$10m (PK₨481.5m market cap, or US$1.72m). 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 (6.7% average weekly change). Revenue is less than US$5m (PK₨387m revenue, or US$1.4m). Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to PK₨9.18, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 7x in the Capital Markets industry in Pakistan. Total returns to shareholders of 61% over the past three years. Upcoming Dividend • Oct 09
Upcoming dividend of PK₨1.25 per share Eligible shareholders must have bought the stock before 16 October 2024. Payment date: 15 November 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 11%. Within top quartile of Pakistani dividend payers (11%). Higher than average of industry peers (7.1%). Declared Dividend • Sep 15
Dividend of PK₨1.25 announced Shareholders will receive a dividend of PK₨1.25. Ex-date: 16th October 2024 Payment date: 15th November 2024 Dividend yield will be 12%, which is higher than the industry average of 8.3%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 26% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 20% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 14
Sindh Modaraba, Annual General Meeting, Oct 25, 2024 Sindh Modaraba, Annual General Meeting, Oct 25, 2024. Upcoming Dividend • Oct 10
Upcoming dividend of PK₨1.25 per share at 14% yield Eligible shareholders must have bought the stock before 17 October 2023. Payment date: 17 November 2023. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 14%. Within top quartile of Pakistani dividend payers (13%). Higher than average of industry peers (9.9%). Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to PK₨7.02, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 16x in the Capital Markets industry in Pakistan. Total loss to shareholders of 4.6% over the past three years. Board Change • Jul 04
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 Chairman of Sindh Modaraba Management Limited - Management Company Waseem Syed 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. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to PK₨8.59, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 22x in the Capital Markets industry in Pakistan. Total returns to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨7.10, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 23x in the Capital Markets industry in Pakistan. Total returns to shareholders of 38% over the past three years. Board Change • Mar 28
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 Chairman of Sindh Modaraba Management Limited - Management Company Waseem Syed 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. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to PK₨7.60, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 12x in the Capital Markets industry in Pakistan. Total returns to shareholders of 47% over the past three years. Board Change • Jan 25
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 Chairman of Sindh Modaraba Management Limited - Management Company Waseem Syed 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. 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. 6 non-independent directors. Independent Chairman of Sindh Modaraba Management Limited - Management Company Waseem Syed 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. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment deteriorated over the past week After last week's 16% share price decline to PK₨7.00, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 10x in the Capital Markets industry in Pakistan. Total returns to shareholders of 39% over the past three years. Upcoming Dividend • Oct 10
Upcoming dividend of PK₨1.20 per share Eligible shareholders must have bought the stock before 17 October 2022. Payment date: 16 November 2022. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 14%. Within top quartile of Pakistani dividend payers (12%). Higher than average of industry peers (6.6%). Announcement • Sep 07
Sindh Modaraba Management Limited Announces CEO Changes Sindh Modaraba Management Limited announced that Mr. Ishfaque Ahmed has been appointed as Chief Executive officer of the company with effect from September 05, 2022 in place of Mr. Kamal Ahmed. Board Change • Jul 15
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 Chairman of Sindh Modaraba Management Limited Waseem Syed 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. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to PK₨7.00, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 7x in the Capital Markets industry in Pakistan. Total returns to shareholders of 39% over the past three years. 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. 5 non-independent directors. Independent Chairman of Sindh Modaraba Management Limited Waseem Syed 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. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 18% share price gain to PK₨8.85, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 6x in the Capital Markets industry in Pakistan. Total returns to shareholders of 96% over the past three years. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 17% share price gain to PK₨8.45, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 8x in the Capital Markets industry in Pakistan. Total returns to shareholders of 138% over the past three years. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 17% share price gain to PK₨8.45, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 8x in the Capital Markets industry in Pakistan. Total returns to shareholders of 138% over the past three years. Upcoming Dividend • Oct 08
Upcoming dividend of PK₨1.00 per share Eligible shareholders must have bought the stock before 15 October 2021. Payment date: 16 November 2021. Trailing yield: 12%. Within top quartile of Pakistani dividend payers (10%). Higher than average of industry peers (8.1%). 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₨9.73, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 10x in the Capital Markets industry in Pakistan. Total returns to shareholders of 231% over the past three years. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 16% share price gain to PK₨9.29, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 10x in the Capital Markets industry in Pakistan. Total returns to shareholders of 99% over the past three years. Is New 90 Day High Low • Mar 10
New 90-day low: PK₨8.01 The company is down 6.0% from its price of PK₨8.50 on 09 December 2020. The Pakistani market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is down 3.0% over the same period. Is New 90 Day High Low • Jan 07
New 90-day high: PK₨9.51 The company is up 7.0% from its price of PK₨8.86 on 09 October 2020. The Pakistani market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 11% over the same period. Is New 90 Day High Low • Nov 02
New 90-day low: PK₨8.02 The company is down 24% from its price of PK₨10.60 on 04 August 2020. The Pakistani market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 23% over the same period. Valuation Update With 7 Day Price Move • Oct 15
Market pulls back on stock over the past week After last week's 20% share price decline to PK₨8.49, the stock is trading at a trailing P/E ratio of 3.5x, down from the previous P/E ratio of 4.4x. This compares to an average P/E of 19x in the Capital Markets industry in Pakistan. Total returns to shareholders over the past three years are 174%. Is New 90 Day High Low • Oct 10
New 90-day low: PK₨8.86 The company is down 2.0% from its price of PK₨9.03 on 07 July 2020. The Pakistani market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 42% over the same period.