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Technology & Communication

SYS Systems Limited

Latest results: FY2025 · Dec 2025

Last close · 16 Oct 2026

Rs 116.74 +0.67%

Financials

Systems Limited (SYS) financials

12 years of annual results (FY2014 – FY2025).

Systems Limited (SYS) reported revenue of Rs 80.4 bn for FY2025 (Jan – Dec 2025), up 19.1% from FY2024.

Profit attributable to shareholders was Rs 11.0 bn (EPS Rs 7.52), up 48.0%, a net margin of 13.7%.

It declared a dividend of Rs 2.00 per share for FY2025 and has paid a dividend in each of the last 12 years.

The balance sheet showed net cash of Rs 11.7 bn.

Return on equity was 25.3%.

Over the last five years revenue grew at a compound 52.1% a year.

At Rs 116.74 (close on 16 Oct 2026) the shares trade at 15.5× earnings (FY2025) and 3.54× book value, with a dividend yield of 1.7%.

Fundamentals

SYS at a glance

Revenue · FY2025

Rs 80.4 bn

▲ 19.1% year on year

Profit attributable to shareholders · FY2025

Rs 11.0 bn

▲ 48.0% year on year

EPS – basic (Rs) · FY2025

Rs 7.52

▲ 47.1% year on year

Dividend per share (Rs) · FY2025

Rs 2.00

▲ 66.7% year on year

Net margin · FY2025

13.7%

+2.7 pts year on year

Debt to equity · FY2025

15.0%

+6.7 pts year on year

Financial statements

Income statement

Revenue, costs, profit and earnings per share.

Revenue · FY2025
Rs 80.4 bn
Profit attributable · FY2025
Rs 11.0 bn

Balance sheet

Assets, liabilities, debt and shareholders' equity.

Total assets · FY2025
Rs 75.5 bn
Equity · FY2025
Rs 48.6 bn

Cash flow

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

Operating cash flow · FY2025
Rs 10.9 bn
Free cash flow · FY2025
Rs 9.0 bn

Financial highlights

SYS financial results

SYS annual financial highlights (Rs bn)
Rs bn FY2025 Jan – Dec 2025 FY2024 * Jan – Dec 2024 FY2023 * Jan – Dec 2023 FY2022 * Jan – Dec 2022 FY2021 Jan – Dec 2021
Revenue 80.4 67.5 53.4 31.8 15.3
Gross profit 22.4 16.0 13.8 8.6 5.0
Operating profit 13.0 8.9 10.9 5.5 3.2
Profit after tax 11.0 7.5 8.7 6.6 4.4
Profit attributable to shareholders 11.0 7.5 8.7 6.6 4.5
EPS – basic (Rs) Rs 7.52 5.11 5.97 4.72 3.24
Dividend per share (Rs) Rs 2.00 1.20 1.20 1.00 0.50
Total assets 75.5 57.5 50.7 38.3 18.0
Total equity 48.6 38.7 32.3 22.9 12.1
Total debt 7.3 3.2 2.9 3.7 3.1
Net cash from operating activities 10.9 4.1 5.3 5.7 2.4
Capital expenditure (1.9) (2.0) (2.8) (2.7) (1.0)
Free cash flow (operating cash flow − capex) 9.0 2.1 2.5 3.0 1.4

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. Updated 15 Oct 2026.

SYS charts

Revenue and profit Revenue Profit attributable
Revenue and profit Rs 80 bn Revenue FY16: Rs 3.1 bn Profit attributable FY16: Rs 487.0 mn FY16 Revenue FY17: Rs 3.8 bn Profit attributable FY17: Rs 570.0 mn FY17 Revenue FY18: Rs 5.3 bn Profit attributable FY18: Rs 1.1 bn FY18 Revenue FY19: Rs 7.5 bn Profit attributable FY19: Rs 1.6 bn FY19 Revenue FY20: Rs 9.9 bn Profit attributable FY20: Rs 2.2 bn FY20 Revenue FY21: Rs 15.3 bn Profit attributable FY21: Rs 4.5 bn FY21 Revenue FY22: Rs 31.8 bn Profit attributable FY22: Rs 6.6 bn FY22 Revenue FY23: Rs 53.4 bn Profit attributable FY23: Rs 8.7 bn FY23 Revenue FY24: Rs 67.5 bn Profit attributable FY24: Rs 7.5 bn FY24 Revenue FY25: Rs 80.4 bn Profit attributable FY25: Rs 11.0 bn FY25
Margins Gross margin Operating margin Net margin
Margins 36% 18% 0% Gross margin FY16: 28.5% Gross margin FY17: 30.0% Gross margin FY18: 28.7% Gross margin FY19: 31.4% Gross margin FY20: 33.0% Gross margin FY21: 32.6% Gross margin FY22: 27.2% Gross margin FY23: 25.9% Gross margin FY24: 23.8% Gross margin FY25: 27.9% Operating margin FY16: 14.4% Operating margin FY17: 12.8% Operating margin FY18: 13.8% Operating margin FY19: 17.7% Operating margin FY20: 21.4% Operating margin FY21: 21.0% Operating margin FY22: 17.2% Operating margin FY23: 20.3% Operating margin FY24: 13.3% Operating margin FY25: 16.1% Net margin FY16: 15.5% Net margin FY17: 14.6% Net margin FY18: 19.9% Net margin FY19: 20.8% Net margin FY20: 21.9% Net margin FY21: 28.6% Net margin FY22: 20.9% Net margin FY23: 16.3% Net margin FY24: 11.1% Net margin FY25: 13.7% FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25
Cash flow Operating cash flow Capex Free cash flow
Cash flow Rs 11 bn -Rs 3 bn Operating cash flow FY16: Rs 215.9 mn Capex FY16: -Rs 350.8 mn Free cash flow FY16: -Rs 134.9 mn FY16 Operating cash flow FY17: Rs 794.1 mn Capex FY17: -Rs 475.2 mn Free cash flow FY17: Rs 318.9 mn FY17 Operating cash flow FY18: Rs 367.2 mn Capex FY18: -Rs 369.4 mn Free cash flow FY18: -Rs 2.2 mn FY18 Operating cash flow FY19: Rs 1.8 bn Capex FY19: -Rs 708.1 mn Free cash flow FY19: Rs 1.1 bn FY19 Operating cash flow FY20: Rs 2.3 bn Capex FY20: -Rs 370.0 mn Free cash flow FY20: Rs 2.0 bn FY20 Operating cash flow FY21: Rs 2.4 bn Capex FY21: -Rs 953.5 mn Free cash flow FY21: Rs 1.4 bn FY21 Operating cash flow FY22: Rs 5.7 bn Capex FY22: -Rs 2.7 bn Free cash flow FY22: Rs 3.0 bn FY22 Operating cash flow FY23: Rs 5.3 bn Capex FY23: -Rs 2.8 bn Free cash flow FY23: Rs 2.5 bn FY23 Operating cash flow FY24: Rs 4.1 bn Capex FY24: -Rs 2.0 bn Free cash flow FY24: Rs 2.1 bn FY24 Operating cash flow FY25: Rs 10.9 bn Capex FY25: -Rs 1.9 bn Free cash flow FY25: Rs 9.0 bn FY25