External broker reports(aggregated public sources), Topline Securities

Topline Securities

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Systems Limited (SYS) announced its 2Q2026 results, posting a consolidated PAT of Rs3bn (EPS: Rs1.98), up 14% YoY and flattish QoQ.</li><li>Net sales for 2Q2026 clocked in at Rs25.7bn, up 38% YoY, supported by the Middle East and Pakistan segments.</li><li>We maintain our BUY stance on Systems Limited (SYS).</li></ul>

Systems Limited (SYS) announced its 2Q2026 results, posting a consolidated PAT of Rs3bn (EPS: Rs1.98), up 14% YoY and flattish QoQ.Net sales for 2Q2026 clocked in at Rs25.7bn, up 38% YoY, supported by the Middle East and Pakistan segments.We maintain our BUY stance on Systems Limited (SYS).

Systems Limited (SYS): 2Q2026 EPS at Rs2.05, Up 14% YoY – Earnings in Line With Expectations