Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨584, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 10x in the Renewable Energy industry in Pakistan. Total returns to shareholders of 160% over the past three years. Reported Earnings • May 01
First quarter 2026 earnings released: PK₨52.20 loss per share (vs PK₨130 profit in 1Q 2025) First quarter 2026 results: PK₨52.20 loss per share (down from PK₨130 profit in 1Q 2025). Net loss: PK₨4.19b (down 154% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Announcement • Apr 21
Dawood Lawrencepur Limited to Report Q1, 2026 Results on Apr 29, 2026 Dawood Lawrencepur Limited announced that they will report Q1, 2026 results on Apr 29, 2026 New Risk • Mar 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 35% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Announcement • Mar 11
Dawood Lawrencepur Limited, Annual General Meeting, Apr 15, 2026 Dawood Lawrencepur Limited, Annual General Meeting, Apr 15, 2026. Location: karachi Pakistan Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: PK₨144 (vs PK₨132 in FY 2024) Full year 2025 results: EPS: PK₨144 (up from PK₨132 in FY 2024). Revenue: PK₨7.13b (up 53% from FY 2024). Net income: PK₨8.56b (up 9.5% from FY 2024). Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Announcement • Mar 03
Dawood Lawrencepur Limited to Report Fiscal Year 2025 Results on Mar 09, 2026 Dawood Lawrencepur Limited announced that they will report fiscal year 2025 results on Mar 09, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: PK₨51.26 (vs PK₨1.40 in 3Q 2024) Third quarter 2025 results: EPS: PK₨51.26 (up from PK₨1.40 in 3Q 2024). Revenue: PK₨1.49b (down 9.7% from 3Q 2024). Net income: PK₨3.04b (up PK₨2.96b from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. New Risk • Sep 18
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 7.4% 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 High level of non-cash earnings (58% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (PK₨18.0b market cap, or US$63.9m). Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to PK₨353, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 9x in the Renewable Energy industry in Pakistan. Total returns to shareholders of 114% over the past three years. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to PK₨304, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 5x in the Renewable Energy industry in Pakistan. Total returns to shareholders of 87% over the past three years. Announcement • Jul 02
Dawood Lawrencepur Limited Announces Change of Company Secretary, Effective from June 30, 2025 Dawood Lawrencepur Limited informed that Mr. Imran Chagani has resigned from the position of Company Secretary of Dawood Lawrencepur Limited (the Company), and Mr. Khwaja Osama Musharraf has been appointed as the Company Secretary in place of Mr. Imran Chagani with effect from June 30, 2025. Reported Earnings • May 02
First quarter 2025 earnings released: EPS: PK₨9.74 (vs PK₨6.80 in 1Q 2024) First quarter 2025 results: EPS: PK₨9.74 (up from PK₨6.80 in 1Q 2024). Revenue: PK₨740.7m (up PK₨723.7m from 1Q 2024). Net income: PK₨577.8m (up 43% from 1Q 2024). Profit margin: 78% (down from 2,370% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 10
Upcoming dividend of PK₨5.00 per share Eligible shareholders must have bought the stock before 17 April 2025. Payment date: 19 May 2025. Payout ratio is a comfortable 6.1% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Pakistani dividend payers (10%). Lower than average of industry peers (13%). New Risk • Mar 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Pakistani stocks, typically moving 8.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.5% average weekly change). Earnings have declined by 2.6% 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. Profit margins are more than 30% lower than last year (168% net profit margin). Market cap is less than US$100m (PK₨16.5b market cap, or US$59.2m). New Risk • Mar 14
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: 3.4% 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 Risk Earnings have declined by 2.6% 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. Share price has been volatile over the past 3 months (8.7% average weekly change). Profit margins are more than 30% lower than last year (168% net profit margin). Market cap is less than US$100m (PK₨17.1b market cap, or US$60.9m). Announcement • Mar 14
Dawood Lawrencepur Limited Declares Final Dividend Dawood Lawrencepur Limited will close its transfer books from April 19, 2025, to April 25, 2025, to determine the entitlement of shareholders to the final dividend. The dividend has been declared at 50%, to be distributed among shareholders as of the closure dates. The ex-price date for the dividend is set for April 17, 2025. Reported Earnings • Mar 12
Full year 2024 earnings released: EPS: PK₨155 (vs PK₨3.35 in FY 2023) Full year 2024 results: EPS: PK₨155 (up from PK₨3.35 in FY 2023). Revenue: PK₨4.66b (up PK₨4.60b from FY 2023). Net income: PK₨7.82b (up PK₨7.62b from FY 2023). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Mar 10
Dawood Lawrencepur Limited, Annual General Meeting, Apr 25, 2025 Dawood Lawrencepur Limited, Annual General Meeting, Apr 25, 2025. Location: at dawood centre, m.t. khan road, karachi Pakistan New Risk • Jan 19
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 8.7% 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 Risks Earnings have declined by 33% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (PK₨19.1b market cap, or US$68.5m). Announcement • Jan 16
Dawood Lawrencepur Limited Announces Changes in Board of Directors Dawood Lawrencepur Limited announced significant changes in its Board of Directors, effective January 13, 2025. The company confirmed the resignation of Mr. Muhammad Bilal Ahmed from his position as Director, citing the need for a transition within the board. The vacancy created by Mr. Ahmed's departure has been promptly addressed with the appointment of Mr. Sikander Hazir as the new Director of Dawood Lawrencepur Limited, also effective from January 13, 2025. The company has expressed confidence in Mr. Hazir's capabilities and leadership to contribute positively to its strategic goals. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: PK₨1.24 (vs PK₨36.60 in 3Q 2023) Third quarter 2024 results: EPS: PK₨1.24 (down from PK₨36.60 in 3Q 2023). Net income: PK₨83.3m (down 96% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (PK₨12.9b market cap, or US$46.2m). Announcement • Aug 22
Dawood Lawrencepur Limited to Report First Half, 2024 Results on Aug 28, 2024 Dawood Lawrencepur Limited announced that they will report first half, 2024 results on Aug 28, 2024 New Risk • Jul 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 Risks Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m (PK₨60m revenue, or US$217k). Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (PK₨13.7b market cap, or US$49.1m). New Risk • Jun 16
New major risk - Revenue and earnings growth Earnings have declined by 13% 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 Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m (PK₨60m revenue, or US$217k). Minor Risk Market cap is less than US$100m (PK₨14.2b market cap, or US$51.1m). Reported Earnings • Jun 05
First quarter 2024 earnings released: EPS: PK₨4.95 (vs PK₨5.16 in 1Q 2023) First quarter 2024 results: EPS: PK₨4.95. Net income: PK₨403.1m (up 32% from 1Q 2023). New Risk • May 28
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: PK₨61m (US$219k) This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (PK₨61m revenue, or US$219k). Minor Risk Market cap is less than US$100m (PK₨14.0b market cap, or US$50.3m). New Risk • May 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (20% net profit margin). Market cap is less than US$100m (PK₨14.0b market cap, or US$50.2m). New Risk • Mar 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Pakistani stocks, typically moving 7.4% 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: Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Profit margins are more than 30% lower than last year (20% net profit margin). Market cap is less than US$100m (PK₨14.2b market cap, or US$50.9m). New Risk • Nov 07
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: 20% Last year net profit margin: 28% 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 Profit margins are more than 30% lower than last year (20% net profit margin). Market cap is less than US$100m (PK₨14.8b market cap, or US$51.7m). Announcement • Nov 01
Dawood Lawrencepur Limited Announces Board Changes Dawood Lawrencepur Limited has announced a significant change in its board composition following the recent resignation of Mr. Zamin Zaidi, a member of the Board. Mr. Zaidi's departure from the Board took effect on October 27, 2023. Following this vacancy, Dawood Lawrencepur Limited acted promptly to maintain its governance structure andappointed Mr. Muhammad Bilal Ahmed as a Director of the Company. Mr. Ahmed's appointment was also effectiveas of October 27, 2023, ensuring a swift transition and continuity in the company's leadership. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: PK₨36.69 (vs PK₨15.33 in 3Q 2022) Third quarter 2023 results: EPS: PK₨36.69 (up from PK₨15.33 in 3Q 2022). Revenue: PK₨2.25b (down 46% from 3Q 2022). Net income: PK₨2.17b (up 139% from 3Q 2022). Profit margin: 96% (up from 22% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Oct 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 Ruhail Muhammad 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. Announcement • Sep 07
Dawood Lawrencepur Limited Announces New Director and Chairman Appointments Dawood Lawrencepur Limited has made key appointments that will play a pivotal role in shaping the company's future. The company has officially confirmed the following appointments: Director Appointment: Mr. Muhammed Amin has been appointed as a Director, effective from September 5, 2023. Mr. Amin's appointment is in response to a casual vacancy created by the resignation of Mr. Muhammad Jawaid Iqbal. With his extensive experience and expertise, Mr. Amin is expected to contribute significantly to the company's strategic direction. Chairman of the Board of Directors: The company also announced the appointment of Mr. Ruhail Muhammad as the Chairman of the Board of Directors. This appointment reflects the company's commitment to strong leadership and corporate governance. Mr. Muhammad's leadership is poised to guide the company to new heights of success. These appointments underscore Dawood Lawrencepur Limited's dedication to enhancing its corporate governance, ensuring transparency, and facilitating growth in line with its strategic objectives. The company looks forward to benefiting from the valuable insights and contributions of these accomplished individuals in the pursuit of its vision and goals. Shareholders, investors, and stakeholders are encouraged to stay tuned for further developments and updates regarding Dawood Lawrencepur Limited's progress under the leadership of its newly appointed Director and Chairman. Board Change • Sep 07
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 Ruhail Muhammad 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. New Risk • Sep 03
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: 12% Last year net profit margin: 21% 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 Risk Share price has been highly volatile over the past 3 months (9.3% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (12% net profit margin). Market cap is less than US$100m (PK₨13.3b market cap, or US$43.7m). Reported Earnings • Aug 31
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: PK₨1.71b (down 69% from 2Q 2022). Net income: PK₨388.0m (up 33% from 2Q 2022). Profit margin: 23% (up from 5.3% in 2Q 2022). The increase in margin was driven by lower expenses. Buying Opportunity • May 26
Now 20% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be PK₨288, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 9.7%. Reported Earnings • May 12
Full year 2022 earnings released: EPS: PK₨28.59 (vs PK₨36.58 in FY 2021) Full year 2022 results: EPS: PK₨28.59 (down from PK₨36.58 in FY 2021). Revenue: PK₨13.7b (up 14% from FY 2021). Net income: PK₨1.70b (down 22% from FY 2021). Profit margin: 12% (down from 18% 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 10% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Board Change • Mar 08
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Chairman of the Board Muhammad Iqbal was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Jan 26
Dawood Lawrencepur Limited Appoints Mujtaba Haider Khan as Chief Executive Officer Dawood Lawrencepur Limited announced the appointment of Mr. Mujtaba Haider Khan as Chief Executive Officer of the company. Board Change • Jan 18
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Chairman of the Board Muhammad Iqbal was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Chairman of the Board Muhammad Iqbal was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: PK₨15.33 (vs PK₨14.46 in 3Q 2021) Third quarter 2022 results: EPS: PK₨15.33 (up from PK₨14.46 in 3Q 2021). Revenue: PK₨4.18b (up 12% from 3Q 2021). Net income: PK₨908.9m (up 6.0% from 3Q 2021). Profit margin: 22% (down from 23% 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 16% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 11
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be PK₨252, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 23%. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improved over the past week After last week's 17% share price gain to PK₨210, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 5x in the Renewable Energy industry in Pakistan. Total returns to shareholders of 14% over the past three years. Upcoming Dividend • Aug 29
Upcoming dividend of PK₨3.00 per share Eligible shareholders must have bought the stock before 05 September 2022. Payment date: 28 September 2022. Trailing yield: 3.1%. Lower than top quartile of Pakistani dividend payers (11%). Lower than average of industry peers (28%). Board Change • Aug 01
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: No independent directors. 7 non-independent directors. Chairman of the Board Muhammad Iqbal was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Buying Opportunity • May 23
Now 23% undervalued Over the last 90 days, the stock is up 4.1%. The fair value is estimated to be PK₨247, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 6.6%. Board Change • Apr 27
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: No independent directors. 7 non-independent directors. Chairman of the Board Muhammad Iqbal was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Buying Opportunity • Feb 08
Now 21% undervalued Over the last 90 days, the stock is up 6.1%. The fair value is estimated to be PK₨247, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% per annum over the last 3 years. Earnings per share has grown by 6.6% per annum over the last 3 years. Reported Earnings • Nov 01
Third quarter 2021 earnings released: EPS PK₨14.46 (vs PK₨12.22 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: PK₨3.75b (up 166% from 3Q 2020). Net income: PK₨857.5m (up 18% from 3Q 2020). Profit margin: 23% (down from 52% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Oct 13
Upcoming dividend of PK₨2.75 per share Eligible shareholders must have bought the stock before 20 October 2021. Payment date: 12 November 2021. Trailing yield: 1.8%. Lower than top quartile of Pakistani dividend payers (10%). Lower than average of industry peers (19%). Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS PK₨11.62 (vs PK₨9.68 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: PK₨3.14b (up 100% from 2Q 2020). Net income: PK₨689.2m (up 20% from 2Q 2020). Profit margin: 22% (down from 37% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Jun 11
Upcoming dividend of PK₨3.50 per share Eligible shareholders must have bought the stock before 18 June 2021. Payment date: 13 July 2021. Trailing yield: 1.8%. Lower than top quartile of Pakistani dividend payers (8.5%). Lower than average of industry peers (13%). Reported Earnings • May 02
First quarter 2021 earnings released: EPS PK₨4.34 (vs PK₨0.40 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: PK₨1.41b (up 18% from 1Q 2020). Net income: PK₨257.3m (up PK₨280.9m from 1Q 2020). Profit margin: 18% (up from net loss in 1Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 18
New 90-day high: PK₨244 The company is up 30% from its price of PK₨188 on 12 November 2020. The Pakistani market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 16% over the same period. Is New 90 Day High Low • Jan 25
New 90-day high: PK₨242 The company is up 26% from its price of PK₨192 on 27 October 2020. The Pakistani market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 17% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: PK₨220 The company is up 15% from its price of PK₨191 on 29 September 2020. The Pakistani market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is flat over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: PK₨205 The company is up 6.0% from its price of PK₨193 on 10 September 2020. The Pakistani market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is flat over the same period. Is New 90 Day High Low • Nov 11
New 90-day low: PK₨180 The company is down 3.0% from its price of PK₨185 on 13 August 2020. The Pakistani market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Renewable Energy industry, which is down 5.0% over the same period. Reported Earnings • Oct 31
Third quarter earnings released Over the last 12 months the company has reported total profits of PK₨1.66b, up 53% from the prior year. Total revenue was PK₨6.27b over the last 12 months, up 6.4% from the prior year.