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Transport

SLGL Secure Logistics-Trax Group Limited

Latest results: FY2025 · Dec 2025

Last close · 16 Oct 2026

Rs 15.11 -2.20%

Financials

Secure Logistics-Trax Group Limited (SLGL) financials

7 years of annual results (FY2019 – FY2025).

Secure Logistics-Trax Group Limited (SLGL) reported revenue of Rs 2.9 bn for FY2025 (Jan – Dec 2025), up 16.7% from FY2024.

Profit attributable to shareholders was Rs 856.4 mn (EPS Rs 3.13), up 40.0%, a net margin of 29.4%.

No cash dividend was declared for FY2025.

Net debt stood at Rs 258.9 mn.

Return on equity was 13.9%.

Over the last five years revenue grew at a compound 19.4% a year.

At Rs 15.11 (close on 16 Oct 2026) the shares trade at 4.8× earnings (FY2025) and 0.55× book value.

Fundamentals

SLGL at a glance

Revenue · FY2025

Rs 2.9 bn

▲ 16.7% year on year

Profit attributable to shareholders · FY2025

Rs 856.4 mn

▲ 40.0% year on year

EPS – basic (Rs) · FY2025

Rs 3.13

▲ 25.1% year on year

Dividend per share (Rs) · FY2025

Rs 0.00

Net margin · FY2025

29.4%

+4.9 pts year on year

Debt to equity · FY2025

6.3%

-7.4 pts year on year

Financial statements

Income statement

Revenue, costs, profit and earnings per share.

Revenue · FY2025
Rs 2.9 bn
Profit attributable · FY2025
Rs 856.4 mn

Balance sheet

Assets, liabilities, debt and shareholders' equity.

Total assets · FY2025
Rs 10.0 bn
Equity · FY2025
Rs 7.6 bn

Cash flow

Cash from operations, investment, financing and free cash flow.

Operating cash flow · FY2025
Rs 560.2 mn
Free cash flow · FY2025
Rs 12.6 mn

Financial highlights

SLGL financial results

SLGL annual financial highlights (Rs mn)
Rs mn FY2025 * Jan – Dec 2025 FY2024 Jan – Dec 2024 FY2023 Jan – Dec 2023 FY2022 * Jan – Dec 2022 FY2021 Jan – Dec 2021
Revenue 2,938.0 2,518.4 2,044.8 1,669.0 1,567.9
Gross profit 1,059.9 1,088.7 836.0 591.7 597.5
Operating profit 140.3 806.7 524.1 383.5 438.1
Profit after tax 863.9 616.8 352.7 291.1 371.5
Profit attributable to shareholders 856.4 611.7 352.7 291.1 371.5
EPS – basic (Rs) Rs 3.13 2.50 1.29 1.06 1.36
Dividend per share (Rs) Rs 0.00 0.00 0.00 0.00 0.00
Total assets 9,975.2 5,692.5 4,725.6 4,314.5 —
Total equity 7,615.3 4,725.6 2,877.5 2,519.7 —
Total debt 480.5 650.0 1,442.8 1,406.6 —
Net cash from operating activities 560.2 560.7 518.5 513.4 —
Capital expenditure (547.7) (821.8) (796.0) (304.9) —
Free cash flow (operating cash flow − capex) 12.6 (261.2) (277.5) 208.5 —

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets. Free cash flow and book value per share are calculated by Smart Money; TTM = the latest four quarters. * Some FY2025 figures do not fully reconcile in the source data. Updated 15 Oct 2026.

SLGL charts

Revenue and profit Revenue Profit attributable
Revenue and profit Rs 3 bn Revenue FY19: Rs 1.2 bn Profit attributable FY19: Rs 305.0 mn FY19 Revenue FY20: Rs 1.2 bn Profit attributable FY20: Rs 228.9 mn FY20 Revenue FY21: Rs 1.6 bn Profit attributable FY21: Rs 371.5 mn FY21 Revenue FY22: Rs 1.7 bn Profit attributable FY22: Rs 291.1 mn FY22 Revenue FY23: Rs 2.0 bn Profit attributable FY23: Rs 352.7 mn FY23 Revenue FY24: Rs 2.5 bn Profit attributable FY24: Rs 611.7 mn FY24 Revenue FY25: Rs 2.9 bn Profit attributable FY25: Rs 856.4 mn FY25
Margins Gross margin Operating margin Net margin
Margins 47% 23% 0% Gross margin FY19: 42.5% Gross margin FY20: 39.1% Gross margin FY21: 38.1% Gross margin FY22: 35.5% Gross margin FY23: 40.9% Gross margin FY24: 43.2% Gross margin FY25: 36.1% Operating margin FY19: 30.4% Operating margin FY20: 24.7% Operating margin FY21: 27.9% Operating margin FY22: 23.0% Operating margin FY23: 25.6% Operating margin FY24: 32.0% Operating margin FY25: 4.8% Net margin FY19: 25.8% Net margin FY20: 18.9% Net margin FY21: 23.7% Net margin FY22: 17.4% Net margin FY23: 17.2% Net margin FY24: 24.5% Net margin FY25: 29.4% FY19 FY20 FY21 FY22 FY23 FY24 FY25
Cash flow Operating cash flow Capex Free cash flow
Cash flow Rs 561 mn -Rs 822 mn FY19 FY20 FY21 Operating cash flow FY22: Rs 513.4 mn Capex FY22: -Rs 304.9 mn Free cash flow FY22: Rs 208.5 mn FY22 Operating cash flow FY23: Rs 518.5 mn Capex FY23: -Rs 796.0 mn Free cash flow FY23: -Rs 277.5 mn FY23 Operating cash flow FY24: Rs 560.7 mn Capex FY24: -Rs 821.8 mn Free cash flow FY24: -Rs 261.2 mn FY24 Operating cash flow FY25: Rs 560.2 mn Capex FY25: -Rs 547.7 mn Free cash flow FY25: Rs 12.6 mn FY25