Reported Earnings • Apr 30
Third quarter 2026 earnings released: PK₨0.08 loss per share (vs PK₨0.085 profit in 3Q 2025) Third quarter 2026 results: PK₨0.08 loss per share (down from PK₨0.085 profit in 3Q 2025). Revenue: PK₨7.54m (down 55% from 3Q 2025). Net loss: PK₨2.38m (down 194% from profit in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 109% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨17.24, the stock trades at a trailing P/E ratio of 44.8x. Average trailing P/E is 24x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 900% over the past three years. Announcement • Apr 21
Trust Modaraba to Report Q3, 2026 Results on Apr 28, 2026 Trust Modaraba announced that they will report Q3, 2026 results on Apr 28, 2026 Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to PK₨15.63, the stock trades at a trailing P/E ratio of 40.7x. Average trailing P/E is 36x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 1,041% over the past three years. Board Change • Mar 13
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director of Al-Zamin Modaraba Management (Private) Limited Muhammad Samiullah was the last independent director to join the board, commencing their role in 2025. 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 04
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to PK₨8.58, the stock trades at a trailing P/E ratio of 22.3x. Average trailing P/E is 19x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 677% over the past three years. Reported Earnings • Feb 19
Second quarter 2026 earnings released: EPS: PK₨0.19 (vs PK₨0.30 in 2Q 2025) Second quarter 2026 results: EPS: PK₨0.19 (down from PK₨0.30 in 2Q 2025). Revenue: PK₨19.8m (down 15% from 2Q 2025). Net income: PK₨5.58m (down 38% from 2Q 2025). Profit margin: 28% (down from 38% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has increased by 95% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to PK₨12.57, the stock trades at a trailing P/E ratio of 23.6x. Average trailing P/E is 17x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 789% over the past three years. Announcement • Feb 11
Trust Modaraba to Report First Half, 2026 Results on Feb 17, 2026 Trust Modaraba announced that they will report first half, 2026 results on Feb 17, 2026 Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to PK₨16.61, the stock trades at a trailing P/E ratio of 31.2x. Average trailing P/E is 20x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 1,153% over the past three years. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to PK₨34.29, the stock trades at a trailing P/E ratio of 64.4x. Average trailing P/E is 21x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 2,487% over the past three years. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to PK₨39.74, the stock trades at a trailing P/E ratio of 74.6x. Average trailing P/E is 20x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 2,530% over the past three years. Announcement • Nov 22
Trust Modaraba Announces Chief Financial Officer Changes Trust Modaraba announced that Mr. Fahd Ahmed, Chief Financial Officer has resigned from the services of Trust Modaraba. Until the vacancy is filled in, Mr. Ather Imam, currently serving as the Vice President, Finance & Accounts shall deal with the responsibilities of CFO. New Risk • Oct 26
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 22% Last year net profit margin: 33% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Revenue is less than US$1m (PK₨71m revenue, or US$253k). Market cap is less than US$10m (PK₨2.00b market cap, or US$7.13m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (22% net profit margin). Reported Earnings • Oct 25
First quarter 2026 earnings released: EPS: PK₨0.13 (vs PK₨0.21 in 1Q 2025) First quarter 2026 results: EPS: PK₨0.13 (down from PK₨0.21 in 1Q 2025). Revenue: PK₨17.9m (up 12% from 1Q 2025). Net income: PK₨3.78m (down 40% from 1Q 2025). Profit margin: 21% (down from 40% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has increased by 237% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% 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 (15% average weekly change). Revenue is less than US$1m (PK₨70m revenue, or US$247k). Market cap is less than US$10m (PK₨1.51b market cap, or US$5.38m). Minor Risk Large one-off items impacting financial results. Reported Earnings • Sep 26
Full year 2025 earnings released: EPS: PK₨0.62 (vs PK₨0.71 in FY 2024) Full year 2025 results: EPS: PK₨0.62 (down from PK₨0.71 in FY 2024). Revenue: PK₨74.5m (up 2.2% from FY 2024). Net income: PK₨18.4m (down 13% from FY 2024). Profit margin: 25% (down from 29% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has increased by 165% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 25
Trust Modaraba, Annual General Meeting, Oct 22, 2025 Trust Modaraba, Annual General Meeting, Oct 22, 2025. Location: at nbfi and modaraba, association of pakistan, 602, 6th floor, progressive centre, shahrah-e-faisal, karachi Pakistan Announcement • Sep 19
Trust Modaraba to Report Fiscal Year 2025 Results on Sep 24, 2025 Trust Modaraba announced that they will report fiscal year 2025 results on Sep 24, 2025 Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to PK₨42.14, the stock trades at a trailing P/E ratio of 54.7x. Average trailing P/E is 13x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 2,773% over the past three years. Announcement • Aug 06
Sohail Asim acquired 15.23% stake in Trust Modaraba (KASE:TRSM) for PKR 56.3 million. Sohail Asim acquired 15.23% stake in Trust Modaraba (KASE:TRSM) for PKR 56.3 million on July 31, 2025. A cash consideration valued at PKR 12.58 per share will be paid by the buyer.
Sohail Asim completed the acquisition of 15.23% stake in Trust Modaraba (KASE:TRSM) on July 31, 2025. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to PK₨24.74, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 15x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 1,639% over the past three years. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 39% After last week's 39% share price gain to PK₨10.72, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 14x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 538% over the past three years. New Risk • Jul 11
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 9.6% 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 Revenue is less than US$1m (PK₨76m revenue, or US$266k). Market cap is less than US$10m (PK₨230.1m market cap, or US$808.6k). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.6% average weekly change). Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to PK₨8.12, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 11x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 371% over the past three years. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨6.55, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 9x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 388% over the past three years. Reported Earnings • Apr 25
Third quarter 2025 earnings released: EPS: PK₨0.08 (vs PK₨0.084 in 3Q 2024) Third quarter 2025 results: EPS: PK₨0.08. Revenue: PK₨16.3m (up 8.3% from 3Q 2024). Net income: PK₨2.52m (up 1.1% from 3Q 2024). Profit margin: 16% (down from 17% in 3Q 2024). The decrease in margin was driven by higher expenses. Reported Earnings • Oct 27
First quarter 2025 earnings released: EPS: PK₨0.21 (vs PK₨0.13 in 1Q 2024) First quarter 2025 results: EPS: PK₨0.21 (up from PK₨0.13 in 1Q 2024). Revenue: PK₨19.4m (up 21% from 1Q 2024). Net income: PK₨6.29m (up 67% from 1Q 2024). Profit margin: 32% (up from 23% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 27
Upcoming dividend of PK₨0.50 per share Eligible shareholders must have bought the stock before 04 October 2024. Payment date: 05 November 2024. Trailing yield: 12%. Within top quartile of Pakistani dividend payers (12%). Higher than average of industry peers (2.4%). New Risk • Sep 13
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 11% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Share price has been highly volatile over the past 3 months (33% average weekly change). Revenue is less than US$1m (PK₨72m revenue, or US$260k). Market cap is less than US$10m (PK₨131.4m market cap, or US$472.1k). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Sep 07
Full year 2024 earnings released: EPS: PK₨0.71 (vs PK₨0.002 loss in FY 2023) Full year 2024 results: EPS: PK₨0.71 (up from PK₨0.002 loss in FY 2023). Revenue: PK₨71.4m (up 87% from FY 2023). Net income: PK₨21.2m (up PK₨21.3m from FY 2023). Profit margin: 30% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 06
Trust Modaraba, Annual General Meeting, Oct 15, 2024 Trust Modaraba, Annual General Meeting, Oct 15, 2024. Location: at nbfi & modarba association of paksitan, 602,6th floor, progressive centre, shahrah-e-faisal, karachi Pakistan Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to PK₨4.76, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 6x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 57% over the past three years. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to PK₨2.90, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 8.2% over the past three years. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to PK₨2.60, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 9.1% over the past three years. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 62% After last week's 62% share price gain to PK₨3.00, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 5.4% over the past three years. Valuation Update With 7 Day Price Move • May 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to PK₨1.80, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 10.0% over the past three years. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to PK₨1.90, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to PK₨2.20, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 17% over the past three years. Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to PK₨2.09, the stock trades at a trailing P/E ratio of 23.9x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 30% over the past three years. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨1.75, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 6x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 42% over the past three years. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to PK₨1.52, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 6x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to PK₨1.64, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 6x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 34% over the past three years. Board Change • Jun 23
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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 • Feb 26
Second quarter 2023 earnings released: PK₨0.10 loss per share (vs PK₨0.04 profit in 2Q 2022) Second quarter 2023 results: PK₨0.10 loss per share (down from PK₨0.04 profit in 2Q 2022). Net loss: PK₨2.90m (down 373% from profit in 2Q 2022). 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 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improved over the past week After last week's 17% share price gain to PK₨1.88, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 6x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 6.0% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorated over the past week After last week's 22% share price decline to PK₨1.55, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 6x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 23% 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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 11
Investor sentiment improved over the past week After last week's 28% share price gain to PK₨1.99, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 6x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 5.2% over the past three years. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment deteriorated over the past week After last week's 30% share price decline to PK₨1.68, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 29% over the past three years. Board Change • Sep 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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 • Sep 20
Investor sentiment improved over the past week After last week's 31% share price gain to PK₨2.30, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 15% over the past three years. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment deteriorated over the past week After last week's 16% share price decline to PK₨1.85, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 7.5% over the past three years. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improved over the past week After last week's 26% share price gain to PK₨2.20, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total returns to shareholders of 10.0% over the past three years. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to PK₨1.61, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 20% over the past three years. Board Change • Aug 03
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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 09
Investor sentiment improved over the past week After last week's 32% share price gain to PK₨2.00, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 9.1% over the past three years. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorated over the past week After last week's 17% share price decline to PK₨2.00, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 5x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 9.1% over the past three years. Board Change • Apr 27
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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 • Jan 22
Investor sentiment improved over the past week After last week's 19% share price gain to PK₨2.87, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 9x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 7.4% over the past three years. Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment improved over the past week After last week's 23% share price gain to PK₨2.59, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 9x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment deteriorated over the past week After last week's 22% share price decline to PK₨2.11, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 9x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 44% over the past three years. Board Change • Nov 29
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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 02
Investor sentiment improved over the past week After last week's 16% share price gain to PK₨3.25, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 8x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 7.1% over the past three years. Reported Earnings • Oct 28
First quarter 2022 earnings released: EPS PK₨0.46 (vs PK₨0.11 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: PK₨40.9m (up 269% from 1Q 2021). Net income: PK₨13.6m (up 331% from 1Q 2021). Profit margin: 33% (up from 28% 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 67% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Board Change • Oct 28
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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . 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 • Sep 27
Investor sentiment deteriorated over the past week After last week's 15% share price decline to PK₨2.60, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 17x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 26% over the past three years. Reported Earnings • Sep 17
Full year 2021 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: PK₨45.5m (up 47% from FY 2020). Net income: PK₨6.61m (up 282% from FY 2020). Profit margin: 14% (up from 5.6% 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 38% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 29% share price gain to PK₨3.54, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 17x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 5.9% over the past three years. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improved over the past week After last week's 20% share price gain to PK₨3.20, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 18x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improved over the past week After last week's 19% share price gain to PK₨2.97, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 16x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improved over the past week After last week's 44% share price gain to PK₨2.87, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 10x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 28% over the past three years. Valuation Update With 7 Day Price Move • May 05
Investor sentiment deteriorated over the past week After last week's 20% share price decline to PK₨2.00, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 10x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 51% over the past three years. Reported Earnings • Apr 25
Third quarter 2021 earnings released: PK₨0.09 loss per share (vs PK₨0.013 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: PK₨7.98m (up 11% from 3Q 2020). Net loss: PK₨2.56m (loss widened 498% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment deteriorated over the past week After last week's 15% share price decline to PK₨2.50, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 11x in the Diversified Financial industry in Pakistan. Total loss to shareholders of 53% over the past three years. Reported Earnings • Feb 20
Second quarter 2021 earnings released: EPS PK₨0.16 (vs PK₨0.06 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: PK₨13.7m (up 39% from 2Q 2020). Net income: PK₨4.79m (up 191% from 2Q 2020). Profit margin: 35% (up from 17% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improved over the past week After last week's 16% share price gain to PK₨3.14, the stock is trading at a trailing P/E ratio of 20.9x, up from the previous P/E ratio of 18x. This compares to an average P/E of 19x in the Diversified Financial industry in Pakistan. Total return to shareholders over the past three years is a loss of 23%. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 20% share price gain to PK₨2.99, the stock is trading at a trailing P/E ratio of 19.9x, up from the previous P/E ratio of 16.6x. This compares to an average P/E of 20x in the Diversified Financial industry in Pakistan. Total return to shareholders over the past three years is a loss of 26%. Valuation Update With 7 Day Price Move • Dec 10
Market pulls back on stock over the past week After last week's 16% share price decline to PK₨2.51, the stock is trading at a trailing P/E ratio of 16.7x, down from the previous P/E ratio of 19.8x. This compares to an average P/E of 17x in the Diversified Financial industry in Pakistan. Total return to shareholders over the past three years is a loss of 38%. Valuation Update With 7 Day Price Move • Dec 08
Market pulls back on stock over the past week After last week's 18% share price decline to PK₨2.55, the stock is trading at a trailing P/E ratio of 16.9x, down from the previous P/E ratio of 20.6x. This compares to an average P/E of 19x in the Diversified Financial industry in Pakistan. Total return to shareholders over the past three years is a loss of 36%. Valuation Update With 7 Day Price Move • Dec 03
Market bids up stock over the past week After last week's 19% share price gain to PK₨2.98, the stock is trading at a trailing P/E ratio of 19.8x, up from the previous P/E ratio of 16.6x. This compares to an average P/E of 17x in the Diversified Financial industry in Pakistan. Total return to shareholders over the past three years is a loss of 26%. Valuation Update With 7 Day Price Move • Nov 30
Market bids up stock over the past week After last week's 24% share price gain to PK₨3.10, the stock is trading at a trailing P/E ratio of 20.6x, up from the previous P/E ratio of 16.6x. This compares to an average P/E of 21x in the Diversified Financial industry in Pakistan. Total return to shareholders over the past three years is a loss of 25%. Valuation Update With 7 Day Price Move • Nov 24
Market pulls back on stock over the past week After last week's 17% share price decline to PK₨2.50, the stock is trading at a trailing P/E ratio of 16.6x, down from the previous P/E ratio of 19.9x. This compares to an average P/E of 18x in the Diversified Financial industry in Pakistan. Total return to shareholders over the past three years is a loss of 44%. Valuation Update With 7 Day Price Move • Nov 06
Market bids up stock over the past week After last week's 17% share price gain to PK₨3.03, the stock is trading at a trailing P/E ratio of 18.2x, up from the previous P/E ratio of 15.6x. This compares to an average P/E of 17x in the Diversified Financial industry in Pakistan. Total return to shareholders over the past three years is a loss of 13%. Reported Earnings • Nov 01
First quarter earnings released Over the last 12 months the company has reported total profits of PK₨4.49m, with earnings increasing by PK₨4.48m from the prior year. Total revenue was PK₨34.6m over the last 12 months, up 19% from the prior year. Valuation Update With 7 Day Price Move • Oct 23
Market bids up stock over the past week After last week's 27% share price gain to PK₨3.37, the stock is trading at a trailing P/E ratio of 58x, up from the previous P/E ratio of 45.6x. This compares to an average P/E of 26x in the Diversified Financial industry in Pakistan. Total return to shareholders over the past three years is a loss of 16%. Valuation Update With 7 Day Price Move • Oct 12
Market bids up stock over the past week After last week's 17% share price gain to PK₨2.99, the stock is trading at a trailing P/E ratio of 51.5x, up from the previous P/E ratio of 43.9x. This compares to an average P/E of 24x in the Diversified Financial industry in Pakistan. Total return to shareholders over the past three years is a loss of 29%. Reported Earnings • Oct 03
Full year earnings released - EPS PK₨0.058 Over the last 12 months the company has reported total profits of PK₨1.73m, up 69% from the prior year. Total revenue was PK₨30.9m over the last 12 months, up 5.6% from the prior year. Profit margins were 5.6%, which is higher than the 3.5% margin from last year. The increase in margin was driven by higher revenue. Reported Earnings • Sep 25
Full year earnings released - EPS PK₨0.06 Over the last 12 months the company has reported total profits of PK₨1.73m, up 69% from the prior year. Total revenue was PK₨35.6m over the last 12 months, up 21% from the prior year. Profit margins were 4.9%, which is higher than the 3.5% margin from last year. The increase in margin was driven by higher revenue. 