Reported Earnings • Apr 29
Third quarter 2026 earnings released: EPS: PK₨16.46 (vs PK₨12.86 in 3Q 2025) Third quarter 2026 results: EPS: PK₨16.46 (up from PK₨12.86 in 3Q 2025). Revenue: PK₨3.99b (up 22% from 3Q 2025). Net income: PK₨310.7m (up 28% from 3Q 2025). Profit margin: 7.8% (up from 7.4% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 17
Dynea Pakistan Limited to Report Q3, 2026 Results on Apr 27, 2026 Dynea Pakistan Limited announced that they will report Q3, 2026 results on Apr 27, 2026 Declared Dividend • Feb 28
First half dividend of PK₨6.25 announced Shareholders will receive a dividend of PK₨6.25. Ex-date: 6th March 2026 Payment date: 1st April 2026 Dividend yield will be 5.5%, which is lower than the industry average of 12%. Sustainability & Growth Dividend is covered by both earnings (32% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 26
Second quarter 2026 earnings released: EPS: PK₨19.19 (vs PK₨15.72 in 2Q 2025) Second quarter 2026 results: EPS: PK₨19.19 (up from PK₨15.72 in 2Q 2025). Revenue: PK₨3.88b (up 7.9% from 2Q 2025). Net income: PK₨362.2m (up 22% from 2Q 2025). Profit margin: 9.3% (up from 8.2% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 17
Dynea Pakistan Limited to Report Q2, 2026 Results on Feb 25, 2026 Dynea Pakistan Limited announced that they will report Q2, 2026 results on Feb 25, 2026 Reported Earnings • Oct 25
First quarter 2026 earnings released: EPS: PK₨10.13 (vs PK₨8.05 in 1Q 2025) First quarter 2026 results: EPS: PK₨10.13 (up from PK₨8.05 in 1Q 2025). Revenue: PK₨3.33b (up 16% from 1Q 2025). Net income: PK₨191.2m (up 26% from 1Q 2025). Profit margin: 5.7% (up from 5.3% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 18% per year. Buy Or Sell Opportunity • Oct 13
Now 21% undervalued Over the last 90 days, the stock has risen 8.5% to PK₨303. The fair value is estimated to be PK₨382, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 24%. Upcoming Dividend • Oct 02
Upcoming dividend of PK₨10.00 per share Eligible shareholders must have bought the stock before 09 October 2025. Payment date: 12 November 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Pakistani dividend payers (7.4%). Lower than average of industry peers (7.3%). Reported Earnings • Sep 19
Full year 2025 earnings released: EPS: PK₨45.97 (vs PK₨63.14 in FY 2024) Full year 2025 results: EPS: PK₨45.97. Revenue: PK₨13t (up PK₨13t from FY 2024). Net income: PK₨867.7b (up PK₨866.5b from FY 2024). Profit margin: 6.8% (down from 9.3% in FY 2024). The decrease in margin was driven by higher expenses. Declared Dividend • Sep 17
Dividend of PK₨10.00 announced Dividend of PK₨10.00 is the same as last year. Ex-date: 9th October 2025 Payment date: 12th November 2025 Dividend yield will be 4.6%, which is lower than the industry average of 12%. Sustainability & Growth Dividend is covered by both earnings (35% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Board Change • Jun 12
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Mazhar Valjee was the last independent director to join the board, commencing their role in 2023. 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 15
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to PK₨225, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 11x in the Chemicals industry in Pakistan. Total returns to shareholders of 77% over the past three years. New Risk • May 08
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: 6.6% Last year net profit margin: 10.0% 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: 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 (6.6% net profit margin). Market cap is less than US$100m (PK₨3.49b market cap, or US$12.4m). Reported Earnings • Feb 27
Second quarter 2025 earnings released: EPS: PK₨15.72 (vs PK₨22.24 in 2Q 2024) Second quarter 2025 results: EPS: PK₨15.72 (down from PK₨22.24 in 2Q 2024). Revenue: PK₨3.60b (down 3.0% from 2Q 2024). Net income: PK₨296.6m (down 29% from 2Q 2024). Profit margin: 8.2% (down from 11% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 24
Dividend of PK₨5.00 announced Shareholders will receive a dividend of PK₨5.00. Ex-date: 3rd March 2025 Payment date: 26th March 2025 Dividend yield will be 7.1%, which is lower than the industry average of 12%. Sustainability & Growth Dividend is covered by both earnings (33% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 32% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 35% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨226, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 9x in the Chemicals industry in Pakistan. Total returns to shareholders of 40% over the past three years. Reported Earnings • Oct 31
First quarter 2025 earnings released: EPS: PK₨8.05 (vs PK₨18.30 in 1Q 2024) First quarter 2025 results: EPS: PK₨8.05 (down from PK₨18.30 in 1Q 2024). Revenue: PK₨2.87b (down 8.2% from 1Q 2024). Net income: PK₨151.8m (down 56% from 1Q 2024). Profit margin: 5.3% (down from 11% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Upcoming Dividend • Oct 08
Upcoming dividend of PK₨10.00 per share Eligible shareholders must have bought the stock before 15 October 2024. Payment date: 14 November 2024. Trailing yield: 9.8%. Lower than top quartile of Pakistani dividend payers (11%). Higher than average of industry peers (8.6%). Reported Earnings • Sep 18
Full year 2024 earnings released: EPS: PK₨63.13 (vs PK₨35.25 in FY 2023) Full year 2024 results: EPS: PK₨63.13 (up from PK₨35.25 in FY 2023). Revenue: PK₨12.8b (up 15% from FY 2023). Net income: PK₨1.19b (up 79% from FY 2023). Profit margin: 9.3% (up from 6.0% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Sep 17
Dynea Pakistan Limited, Annual General Meeting, Oct 24, 2024 Dynea Pakistan Limited, Annual General Meeting, Oct 24, 2024. Location: at the cauditorium of institute of chartered, accountants of pakistan, chartered accountants avenue, clifton, karachi Pakistan Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to PK₨211, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 7x in the Chemicals industry in Pakistan. Negligible returns to shareholders over past three years. Declared Dividend • Sep 15
Dividend of PK₨10.00 announced Shareholders will receive a dividend of PK₨10.00. Ex-date: 15th October 2024 Payment date: 14th November 2024 Dividend yield will be 7.5%, which is lower than the industry average of 12%. Sustainability & Growth Dividend is covered by both earnings (26% earnings payout ratio) and cash flows (89% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 44% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 33% 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 Risk High level of non-cash earnings (33% accrual ratio). 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₨3.90b market cap, or US$14.0m). Board Change • Dec 01
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Tariq Khan was the last independent director to join the board, commencing their role in 2021. 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 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to PK₨156, the stock trades at a trailing P/E ratio of 4.4x. Average forward P/E is 14x in the Chemicals industry in Pakistan. Total loss to shareholders of 12% over the past three years. Upcoming Dividend • Oct 09
Upcoming dividend of PK₨10.00 per share at 7.2% yield Eligible shareholders must have bought the stock before 16 October 2023. Payment date: 15 November 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 7.2%. Lower than top quartile of Pakistani dividend payers (13%). Lower than average of industry peers (15%). Announcement • Aug 23
Dynea Pakistan Limited Announces Demise of Andalib Alavi as Director Dynea Pakistan Limited expressed its deep sorrow over the passing of Director Mr. Andalib Alavi. With his unfortunate demise, Mr. Alavi has ceased to hold his position on the Board of Directors, effective from August 18, 2023. Mr. Andalib Alavi, who had served as a dedicated Director for the company, will be remembered for his valuable contributions and commitment to Dynea Pakistan's growth and success. The vacancy created by Mr. Alavi's departure leaves an important position to be filled within the Board of Directors. The company is faced with the task of identifying a capable successor who will continue to contribute to the strategic direction and leadership of Dynea Pakistan Limited. The current Board of the company remains as follows: 1. Mr. Donald John Jenkin - Chairman; 2. Mr. Shabbir Abbas - Chief Executive Officer and Director; 3. Mr. Lee Kin Seng - Director; 4. Ms. Anam Fatima Khan - Director; 5. Mr. Adnan Afridi - Director; 6. Mr. Tariq Ahmed - Director. Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to PK₨132, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 8x in the Chemicals industry in Pakistan. Total returns to shareholders of 76% over the past three years. Reported Earnings • Mar 06
Second quarter 2023 earnings released: EPS: PK₨8.90 (vs PK₨16.65 in 2Q 2022) Second quarter 2023 results: EPS: PK₨8.90 (down from PK₨16.65 in 2Q 2022). Revenue: PK₨2.92b (up 12% from 2Q 2022). Net income: PK₨167.9m (down 47% from 2Q 2022). Profit margin: 5.8% (down from 12% 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 17% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 04
Upcoming dividend of PK₨7.50 per share Eligible shareholders must have bought the stock before 11 October 2022. Payment date: 10 November 2022. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Pakistani dividend payers (11%). Lower than average of industry peers (12%). Reported Earnings • Sep 29
Full year 2022 earnings released: EPS: PK₨32.93 (vs PK₨49.73 in FY 2021) Full year 2022 results: EPS: PK₨32.93 (down from PK₨49.73 in FY 2021). Revenue: PK₨9.54b (up 40% from FY 2021). Net income: PK₨621.5m (down 34% from FY 2021). Profit margin: 6.5% (down from 14% 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 46% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 30
Third quarter 2022 earnings released: EPS: PK₨10.34 (vs PK₨14.54 in 3Q 2021) Third quarter 2022 results: EPS: PK₨10.34 (down from PK₨14.54 in 3Q 2021). Revenue: PK₨2.70b (up 38% from 3Q 2021). Net income: PK₨195.1m (down 29% from 3Q 2021). Profit margin: 7.2% (down from 14% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Andalib Alavi was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 05
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: PK₨16.65 (up from PK₨13.59 in 2Q 2021). Revenue: PK₨2.61b (up 48% from 2Q 2021). Net income: PK₨314.2m (up 23% from 2Q 2021). Profit margin: 12% (down from 14% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 26
First quarter 2022 earnings released: EPS PK₨9.57 (vs PK₨13.42 in 1Q 2021) The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2022 results: Revenue: PK₨1.96b (up 34% from 1Q 2021). Net income: PK₨180.6m (down 29% from 1Q 2021). Profit margin: 9.2% (down from 17% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 05
Upcoming dividend of PK₨5.00 per share Eligible shareholders must have bought the stock before 12 October 2021. Payment date: 11 November 2021. Trailing yield: 4.6%. Lower than top quartile of Pakistani dividend payers (10%). Lower than average of industry peers (11%). Board Change • Sep 15
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Andalib Alavi was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 14
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Andalib Alavi was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 13
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Andalib Alavi was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 11
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Andalib Alavi was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 09
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Andalib Alavi was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 08
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Andalib Alavi was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 07
Full year 2021 earnings released: EPS PK₨49.73 (vs PK₨13.42 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: PK₨6.83b (up 52% from FY 2020). Net income: PK₨938.6m (up 271% 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 51% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Executive Departure • Sep 03
Non-Executive Director Murtaza Lalan has left the company On the 1st of September, Murtaza Lalan's tenure as Non-Executive Director ended after 1.5 years in the role. We don't have any record of a personal shareholding under Murtaza's name. Murtaza is the only executive to leave the company over the last 12 months. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improved over the past week After last week's 25% share price gain to PK₨275, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 8x in the Chemicals industry in Pakistan. Total returns to shareholders of 148% over the past three years. Reported Earnings • Apr 27
Third quarter 2021 earnings released: EPS PK₨14.54 (vs PK₨7.03 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: PK₨1.95b (up 46% from 3Q 2020). Net income: PK₨274.4m (up 107% from 3Q 2020). Profit margin: 14% (up from 9.9% 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 37% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 11
New 90-day low: PK₨191 The company is down 5.0% from its price of PK₨200 on 11 December 2020. The Pakistani market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 2.0% over the same period. Upcoming Dividend • Feb 24
Upcoming Dividend of PK₨2.50 Per Share Will be paid on the 29th of March to those who are registered shareholders by the 3rd of March. The trailing yield of 2.2% is below the top quartile of Pakistani dividend payers (7.8%), and is lower than industry peers (8.8%). Reported Earnings • Feb 20
Second quarter 2021 earnings released: EPS PK₨13.59 (vs PK₨5.01 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: PK₨1.76b (up 31% from 2Q 2020). Net income: PK₨256.4m (up 171% from 2Q 2020). Profit margin: 14% (up from 7.0% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 20% per year. Is New 90 Day High Low • Jan 27
New 90-day high: PK₨250 The company is up 28% from its price of PK₨195 on 29 October 2020. The Pakistani market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 5.0% over the same period. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improved over the past week After last week's 16% share price gain to PK₨244, the stock is trading at a trailing P/E ratio of 9.6x, up from the previous P/E ratio of 8.3x. This compares to an average P/E of 13x in the Chemicals industry in Pakistan. Total returns to shareholders over the past three years are 180%. Is New 90 Day High Low • Jan 07
New 90-day high: PK₨231 The company is up 29% from its price of PK₨179 on 09 October 2020. The Pakistani market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 5.0% over the same period. Reported Earnings • Oct 28
First quarter earnings released Over the last 12 months the company has reported total profits of PK₨478.9m, up 111% from the prior year. Total revenue was PK₨4.88b over the last 12 months, down 5.2% from the prior year. Is New 90 Day High Low • Oct 20
New 90-day high: PK₨193 The company is up 39% from its price of PK₨139 on 22 July 2020. The Pakistani market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is flat over the same period. Reported Earnings • Oct 04
Full year earnings released - EPS PK₨13.42 Over the last 12 months the company has reported total profits of PK₨253.3m, up 12% from the prior year. Total revenue was PK₨4.49b over the last 12 months, down 13% from the prior year. Profit margins were 5.6%, which is higher than the 4.4% margin from last year. The increase in margin was driven by lower expenses. 
