Karachi: Lalpir Limited, previously known as Lalpir Power Limited, has undergone significant strategic transitions following the early termination of its Power Purchase Agreement on October 1, 2024. The company, now focusing on investment activities, has implemented an Alternate Business Plan aimed at preserving shareholder value through the disposal of legacy power-generation assets.
During the company's Annual General Meeting on April 27, 2026, shareholders approved several strategic changes. These include the transition of Lalpir's principal business to investment activities, a name change, and the sanctioned disposal of its power-generation assets. Following approval from the Securities and Exchange Commission of Pakistan, the company's name change became effective in June 2026. The assets earmarked for disposal are now classified as assets held for sale, in line with IFRS 5 standards, while investment activities have become the primary revenue source.
A notable strategic investment was made on June 23, 2026, when Lalpir Limited acquired 407,667 ordinary shares of Rafhan Maize Products Company Limited (RMPL), representing 4.41% of RMPL’s issued share capital. The acquisition cost approximately PKR 3,998.497 million. This investment aligns with Lalpir’s revised business strategy and is expected to offer dividend income and long-term capital growth. According to information available from the Pakistan Stock Exchange (PSX), the company received a dividend of Rs 24.46 million from this investment in the third quarter.
In addition to its investment activities, Lalpir Limited is participating in the privatisation process of the Faisalabad Electric Supply Company (FESCO). The company, as part of a consortium led by Pakgen Limited, is exploring this opportunity but has not yet committed to any binding agreements.
Financially, Lalpir Limited reported a profit after tax of Rupees 120 million for the nine months ending September 30, 2026, a significant improvement from the Rupees 830 million loss reported in the same period last year. The company's earnings per share rose to Rupee 0.43 from a loss per share of Rupees 2.18. Its investments, including long and short-term shares, mutual funds, and bank balances, stood at Rupees 9,271 million as of the end of the reporting period.
The ongoing disposal of the company’s legacy assets has generated sale proceeds of Rupees 16,083, surpassing the book value by Rupees 2,673. These proceeds are being reinvested into mutual funds as part of the company’s Alternate Business Plan.
Lalpir Limited continues to inform stakeholders about material developments in compliance with applicable market requirements, maintaining transparency in its transition to an investment-centric business model.