External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Cross Asset Strategy

<ul><li>KSE-100 index companies posted earnings of Rs609bn in 4QFY26, up 34% YoY and 20% QoQ.</li><li>The E&P sector witnessed significant boost in profitability, surging 2.6x YoY and 2.3x QoQ to Rs214.2bn, mainly driven by a huge tax reversal following the FCC’s decision on super tax.</li><li>This takes the FY26 dividends to Rs904.4bn, up 11% with a payout ratio of around 45%.</li></ul>

KSE-100 index companies posted earnings of Rs609bn in 4QFY26, up 34% YoY and 20% QoQ.The E&P sector witnessed significant boost in profitability, surging 2.6x YoY and 2.3x QoQ to Rs214.2bn, mainly driven by a huge tax reversal following the FCC’s decision on super tax.This takes the FY26 dividends to Rs904.4bn, up 11% with a payout ratio of around 45%.

Sazgar Engineering Works Limited (SAZEW PK)

Pakistan Strategy - Corporate Profitability Up 34% in 4QFY26; FY26 Earnings Up 23%; Dividends Up 11%