New Risk • Jul 16
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 Risks Interest payments are not well covered by earnings (0.7x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 200% Paying a dividend despite having no free cash flows. Earnings have declined by 17% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Market cap is less than US$100m (PK₨5.26b market cap, or US$18.9m). Duyuru • Jun 24
Cherat Packaging Limited Installs and Commissions Its Second Extrusion Plant - A Barrier Film Extrusion Line Cherat Packaging Limited has successfully installed and commissioned its second Extrusion Plant - a Barrier Film Extrusion Line, along with related auxiliary equipment for its Flexible Packaging Division. The Company has acquired the Extrusion Plant from Windmoller & Holscher, a globally recognized leader in packaging machinery. This additional extrusion line will significantly enhance the production capacity of Flexible Packaging Division, enabling the Company to better meet customer demand while improving resource utilization. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨92.09, the stock trades at a trailing P/E ratio of 61.4x. Average trailing P/E is 9x in the Packaging industry in Pakistan. Negligible returns to shareholders over past three years. Reported Earnings • Apr 29
Third quarter 2026 earnings released: EPS: PK₨0.56 (vs PK₨1.74 in 3Q 2025) Third quarter 2026 results: EPS: PK₨0.56 (down from PK₨1.74 in 3Q 2025). Revenue: PK₨3.69b (up 12% from 3Q 2025). Net income: PK₨27.6m (down 68% from 3Q 2025). Profit margin: 0.7% (down from 2.6% in 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Duyuru • Apr 15
Cherat Packaging Limited to Report Q3, 2026 Results on Apr 27, 2026 Cherat Packaging Limited announced that they will report Q3, 2026 results on Apr 27, 2026 New Risk • Feb 24
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 112% The company is paying a dividend despite having no free cash flows. Dividend yield: 3.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 112% Paying a dividend despite having no free cash flows. Earnings have declined by 9.1% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (PK₨3.87b market cap, or US$13.8m). New Risk • Feb 21
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings have declined by 9.1% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (PK₨3.95b market cap, or US$14.1m). Reported Earnings • Feb 21
Second quarter 2026 earnings released: EPS: PK₨1.45 (vs PK₨3.69 in 2Q 2025) Second quarter 2026 results: EPS: PK₨1.45 (down from PK₨3.69 in 2Q 2025). Revenue: PK₨4.01b (up 22% from 2Q 2025). Net income: PK₨71.0m (down 61% from 2Q 2025). Profit margin: 1.8% (down from 5.5% in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Duyuru • Feb 21
Cherat Packaging Limited Approves Interim Cash Dividend for the Financial Year Ending June 30, 2026 Cherat Packaging Limited announced at the board meeting held on February 19, 2026, approved interim cash dividend @ 10 % i.e. PKR 1.00 per share for the financial year ending June 30, 2026. The Share Transfer Books of the Company will remain closed from March 3, 2026 to March 4, 2026 (both days inclusive). Transfers received at the office of the Share
Registrar of the Company: CDC Share Registrar Services Limited, CDC House, 99-B, Block-B, S.M.C.H.S, Main Shahra-e-Faisal, Karachi-74400 at close of business on March 2, 2026 will be treated in time for the purpose of mentioned Cash Dividend. Duyuru • Feb 11
Cherat Packaging Limited to Report Q2, 2026 Results on Feb 19, 2026 Cherat Packaging Limited announced that they will report Q2, 2026 results on Feb 19, 2026 New Risk • Oct 31
New major risk - Revenue and earnings growth Earnings have declined by 0.5% 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 Risk Earnings have declined by 0.5% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.8% net profit margin). Market cap is less than US$100m (PK₨4.63b market cap, or US$16.5m). Reported Earnings • Oct 08
Full year 2025 earnings released: EPS: PK₨7.26 (vs PK₨18.04 in FY 2024) Full year 2025 results: EPS: PK₨7.26 (down from PK₨18.04 in FY 2024). Revenue: PK₨13.0b (down 5.8% from FY 2024). Net income: PK₨356.4m (down 60% from FY 2024). Profit margin: 2.7% (down from 6.4% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Oct 06
Upcoming dividend of PK₨2.00 per share Eligible shareholders must have bought the stock before 13 October 2025. Payment date: 12 November 2025. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Pakistani dividend payers (7.2%). In line with average of industry peers (2.9%). Declared Dividend • Aug 22
Final dividend reduced to PK₨2.00 Dividend of PK₨2.00 is 43% lower than last year. Ex-date: 13th October 2025 Payment date: 12th November 2025 Dividend yield will be 2.8%, which is lower than the industry average of 7.2%. Sustainability & Growth Dividend is covered by earnings (52% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.1% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 38% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Duyuru • Aug 21
Cherat Packaging Limited, Annual General Meeting, Oct 22, 2025 Cherat Packaging Limited, Annual General Meeting, Oct 22, 2025. Location: at 1st floor, betani arcade, jamrud road, peshawar., Pakistan Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to PK₨137, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 9x in the Packaging industry in Pakistan. Total returns to shareholders of 53% over the past three years. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to PK₨125, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 8x in the Packaging industry in Pakistan. Total returns to shareholders of 48% over the past three years. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to PK₨101, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 7x in the Packaging industry in Pakistan. Total returns to shareholders of 32% over the past three years. Reported Earnings • May 02
Third quarter 2025 earnings released: EPS: PK₨1.74 (vs PK₨13.21 in 3Q 2024) Third quarter 2025 results: EPS: PK₨1.74 (down from PK₨13.21 in 3Q 2024). Revenue: PK₨3.31b (up 1.2% from 3Q 2024). Net income: PK₨85.2m (down 87% from 3Q 2024). Profit margin: 2.6% (down from 20% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 5% per year. Declared Dividend • Feb 22
Dividend of PK₨1.00 announced Shareholders will receive a dividend of PK₨1.00. Ex-date: 26th February 2025 Payment date: 21st March 2025 Dividend yield will be 4.0%, which is lower than the industry average of 7.2%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 20% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨137, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 7x in the Packaging industry in Pakistan. Total returns to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨121, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 6x in the Packaging industry in Pakistan. Total loss to shareholders of 7.2% over the past three years. Reported Earnings • Oct 31
First quarter 2025 earnings released: EPS: PK₨2.67 (vs PK₨2.81 in 1Q 2024) First quarter 2025 results: EPS: PK₨2.67 (down from PK₨2.81 in 1Q 2024). Revenue: PK₨3.22b (down 16% from 1Q 2024). Net income: PK₨131.0m (down 5.1% from 1Q 2024). Profit margin: 4.1% (up from 3.6% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Reported Earnings • Sep 28
Full year 2024 earnings released: EPS: PK₨18.04 (vs PK₨18.50 in FY 2023) Full year 2024 results: EPS: PK₨18.04 (down from PK₨18.50 in FY 2023). Revenue: PK₨13.8b (down 17% from FY 2023). Net income: PK₨885.9m (down 2.5% from FY 2023). Profit margin: 6.4% (up from 5.5% in FY 2023). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 27
Upcoming dividend of PK₨3.50 per share Eligible shareholders must have bought the stock before 04 October 2024. Payment date: 29 October 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Pakistani dividend payers (12%). Lower than average of industry peers (5.3%). New Risk • Sep 03
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: 4.3% 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: 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₨5.17b market cap, or US$18.5m). Declared Dividend • Aug 24
Dividend of PK₨3.50 announced Shareholders will receive a dividend of PK₨3.50. Ex-date: 4th October 2024 Payment date: 29th October 2024 Dividend yield will be 4.1%, which is lower than the industry average of 7.2%. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (3% cash payout ratio). The dividend has increased by an average of 8.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 5.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Duyuru • Aug 23
Cherat Packaging Limited, Annual General Meeting, Oct 15, 2024 Cherat Packaging Limited, Annual General Meeting, Oct 15, 2024. Location: at the registered office of the company, at 1st floor,betani arcade, jamrud road, peshawar Pakistan Duyuru • Jul 04
Cherat Packaging Limited Announces Executive Changes Cherat Packaging Limited announced the appointment of Mr. Asim Hamid as its new company secretary, replacing Ms. Natasha Bharucha, effective July 1, 2024. Reported Earnings • May 02
Third quarter 2024 earnings released: EPS: PK₨13.21 (vs PK₨9.77 in 3Q 2023) Third quarter 2024 results: EPS: PK₨13.21 (up from PK₨9.77 in 3Q 2023). Revenue: PK₨3.27b (down 28% from 3Q 2023). Net income: PK₨648.5m (up 35% from 3Q 2023). Profit margin: 20% (up from 11% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 02
Second quarter 2024 earnings released: EPS: PK₨1.47 (vs PK₨0.86 in 2Q 2023) Second quarter 2024 results: EPS: PK₨1.47 (up from PK₨0.86 in 2Q 2023). Revenue: PK₨3.63b (down 10% from 2Q 2023). Net income: PK₨72.0m (up 70% from 2Q 2023). Profit margin: 2.0% (up from 1.1% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨136, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 7x in the Packaging industry in Pakistan. Total loss to shareholders of 17% over the past three years. Upcoming Dividend • Oct 06
Upcoming dividend of PK₨2.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 13 October 2023. Payment date: 15 November 2023. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Pakistani dividend payers (14%). Lower than average of industry peers (6.7%). New Risk • Jun 17
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 6.1% 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 Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Profit margins are more than 30% lower than last year (5.3% net profit margin). Market cap is less than US$100m (PK₨4.68b market cap, or US$16.3m). Upcoming Dividend • May 02
Upcoming dividend of PK₨1.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 31 May 2023. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Pakistani dividend payers (13%). Lower than average of industry peers (3.0%). Reported Earnings • Apr 29
Third quarter 2023 earnings released: EPS: PK₨10.25 (vs PK₨3.71 in 3Q 2022) Third quarter 2023 results: EPS: PK₨10.25 (up from PK₨3.71 in 3Q 2022). Revenue: PK₨4.56b (up 32% from 3Q 2022). Net income: PK₨479.5m (up 177% from 3Q 2022). Profit margin: 11% (up from 5.0% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨99.26, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 7x in the Packaging industry in Pakistan. Total returns to shareholders of 11% over the past three years. Board Change • Nov 16
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. 6 non-independent directors. Independent Director Maleeha Bangash was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 21
First quarter 2023 earnings released: EPS: PK₨3.81 (vs PK₨5.83 in 1Q 2022) First quarter 2023 results: EPS: PK₨3.81 (down from PK₨5.83 in 1Q 2022). Revenue: PK₨3.80b (up 23% from 1Q 2022). Net income: PK₨162.0m (down 41% from 1Q 2022). Profit margin: 4.3% (down from 8.8% in 1Q 2022). The decrease in margin was driven by higher expenses. 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 18% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 23
Upcoming dividend of PK₨1.50 per share Eligible shareholders must have bought the stock before 30 September 2022. Payment date: 01 November 2022. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Pakistani dividend payers (11%). Lower than average of industry peers (7.9%). Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to PK₨111, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 7x in the Packaging industry in Pakistan. Total returns to shareholders of 38% over the past three years. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 9 non-independent directors. Independent Director Ali Shirazi was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
First quarter 2022 earnings released: EPS PK₨6.41 (vs PK₨3.24 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: PK₨3.10b (up 23% from 1Q 2021). Net income: PK₨272.5m (up 98% from 1Q 2021). Profit margin: 8.8% (up from 5.5% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Oct 06
Upcoming dividend of PK₨4.00 per share Eligible shareholders must have bought the stock before 13 October 2021. Payment date: 11 November 2021. Trailing yield: 2.9%. Lower than top quartile of Pakistani dividend payers (10%). Lower than average of industry peers (12%). Reported Earnings • Oct 01
Full year 2021 earnings released: EPS PK₨20.12 (vs PK₨1.65 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: PK₨11.3b (up 19% from FY 2020). Net income: PK₨855.1m (up PK₨784.9m from FY 2020). Profit margin: 7.6% (up from 0.7% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Aug 25
Full year 2021 earnings released: EPS PK₨20.12 (vs PK₨1.65 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: PK₨11.3b (up 19% from FY 2020). Net income: PK₨855.1m (up PK₨784.9m from FY 2020). Profit margin: 7.6% (up from 0.7% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • May 01
Third quarter 2021 earnings released: EPS PK₨5.05 (vs PK₨0.029 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: PK₨2.93b (up 26% from 3Q 2020). Net income: PK₨214.5m (up PK₨213.3m from 3Q 2020). Profit margin: 7.3% (up from 0.1% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 09
New 90-day low: PK₨202 The company is down 2.0% from its price of PK₨205 on 09 December 2020. The Pakistani market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Packaging industry, which is down 13% over the same period. Reported Earnings • Mar 02
Second quarter 2021 earnings released: EPS PK₨5.08 (vs PK₨0.39 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: PK₨2.77b (up 6.6% from 2Q 2020). Net income: PK₨216.1m (up PK₨199.4m from 2Q 2020). Profit margin: 7.8% (up from 0.6% in 2Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Upcoming Dividend • Feb 19
Upcoming Dividend of PK₨1.00 Per Share Will be paid on the 24th of March to those who are registered shareholders by the 26th of February. The trailing yield of 0.9% is below the top quartile of Pakistani dividend payers (7.5%), and is lower than industry peers (6.1%). Reported Earnings • Feb 12
Second quarter 2021 earnings released: EPS PK₨5.08 (vs PK₨0.39 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: PK₨2.77b (up 6.6% from 2Q 2020). Net income: PK₨216.1m (up PK₨199.4m from 2Q 2020). Profit margin: 7.8% (up from 0.6% in 2Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improved over the past week After last week's 16% share price gain to PK₨249, the stock is trading at a trailing P/E ratio of 57.1x, up from the previous P/E ratio of 49.2x. This compares to an average P/E of 19x in the Packaging industry in Pakistan. Total returns to shareholders over the past three years are 87%. Is New 90 Day High Low • Feb 04
New 90-day high: PK₨245 The company is up 6.0% from its price of PK₨231 on 06 November 2020. The Pakistani market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Packaging industry, which is down 1.0% over the same period. Is New 90 Day High Low • Dec 30
New 90-day high: PK₨236 The company is up 29% from its price of PK₨183 on 01 October 2020. The Pakistani market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Packaging industry, which is up 32% over the same period. Reported Earnings • Oct 23
First quarter earnings released Over the last 12 months the company has reported total profits of PK₨185.5m, down 48% from the prior year. Total revenue was PK₨9.58b over the last 12 months, up 9.6% from the prior year. Is New 90 Day High Low • Oct 22
New 90-day high: PK₨211 The company is up 69% from its price of PK₨125 on 24 July 2020. The Pakistani market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 26% over the same period. Reported Earnings • Oct 07
Full year earnings released - EPS PK₨1.65 Over the last 12 months the company has reported total profits of PK₨70.2m, down 88% from the prior year. Total revenue was PK₨9.44b over the last 12 months, up 17% from the prior year. Profit margins were 0.7%, which is lower than the 6.9% margin from last year. The decrease in margin was driven by higher expenses. 
