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>We had a management meeting with the senior management of Pak Elektron CFO, Mr. Manzar Hasan and GM Finance, Mr. Nadeem Asghar on the recent financial results and outlook.</li><li>PAEL has expanded into new markets, mainly the United States, securing export orders worth US$44mn with a target of US$50mn by end-2025. It has also secured orders from global leaders such as Tesla, showcasing its engineering strength and competitiveness in international energy solutions.</li><li>We maintain a buy stance on PAEL, with the stock currently trading at a 2025E PE of 10.0x and a 2026F PE of 8.5x.</li></ul>

We had a management meeting with the senior management of Pak Elektron CFO, Mr. Manzar Hasan and GM Finance, Mr. Nadeem Asghar on the recent financial results and outlook.PAEL has expanded into new markets, mainly the United States, securing export orders worth US$44mn with a target of US$50mn by end-2025. It has also secured orders from global leaders such as Tesla, showcasing its engineering strength and competitiveness in international energy solutions.We maintain a buy stance on PAEL, with the stock currently trading at a 2025E PE of 10.0x and a 2026F PE of 8.5x.

Pak Elektron (PAEL) - Management Meeting Takeaways; Power Segment to Dominate in 2H2025