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$SPEL SPEL Limited (SPEL): FY25 Analyst Briefing Takeaways – By AKD Research

AKD Securities
$SPEL SPEL Limited
Rs. 46.92 -2.31%
  • To recall, company posted a topline of PkR9.63bn in FY25, compared to PkR6.97bn in the SPLY, up 38%YoY, driven by market expansion and in creased customer reach.
  • Company reported earnings of PkR1.25bn (EPS: PkR6.60) in FY25 vs. PkR641mn (EPS: PkR3.36) in the SPLY, reflecting a 96% YoY increase, primarily driven by lower power cost due to solarization, higher output, and cheaper sea freight. Notably, gross margins rose to 26.9% in FY25 from 18.9% in SPLY.
  • Local sales increased by 25%YoY to PkR8.4bn, due to increased demand in domestic market. In addition, exports surged to PkR1.3bn, up 5.0x YoY, with company expanding footprint in Europe and USA in order to capture high value markets.