External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

Pak Elektron Limited (Pael) / Equity Bottom-Up

<ul><li>Pak Elektron Limited (PAEL) announced its 2Q2025 result wherein it posted earnings of Rs1,713mn (EPS of Rs1.85) up by 77% YoY and by 2.6x QoQ. The result came in line with expectations.</li><li>Earnings rose in 2Q2025, mainly on the back of higher net sales and improved gross margins. Net sales increased by 21% YoY and 45% QoQ to Rs21.1bn, driven by seasonal demand in the Appliance division—particularly Refrigerators and Air Conditioners—amid strong summer demand, according to our channel checks.</li><li>Gross margins in 2Q2025 increased to 27.7% compared to 26.6% in 2Q2024 and 26.0% in 1Q2025. The improvement in gross margins is on the back of stable currency, in our view.</li></ul>

Pak Elektron Limited (PAEL) announced its 2Q2025 result wherein it posted earnings of Rs1,713mn (EPS of Rs1.85) up by 77% YoY and by 2.6x QoQ. The result came in line with expectations.Earnings rose in 2Q2025, mainly on the back of higher net sales and improved gross margins. Net sales increased by 21% YoY and 45% QoQ to Rs21.1bn, driven by seasonal demand in the Appliance division—particularly Refrigerators and Air Conditioners—amid strong summer demand, according to our channel checks.Gross margins in 2Q2025 increased to 27.7% compared to 26.6% in 2Q2024 and 26.0% in 1Q2025. The improvement in gross margins is on the back of stable currency, in our view.

Pak Elektron (PAEL): 2Q2025 EPS at Rs1.85, Up by 77% YoY and 2.6x QoQ- Earnings in Line with Expectations