K-Electric Shareholders Left in the Dark Over Missing Financial Reports Since 2023

K-Electric, listed on the Pakistan Stock Exchange (PSX), has not released its financial reports for 2024 and 2025, leaving shareholders without information on the company’s profits or losses.

PSX rules require listed companies to publish quarterly and annual financial reports, conduct corporate briefings, and hold annual general meetings. Market analyst Shehryar Butt warns that regulatory loopholes are enabling companies to delay disclosures and damage investor trust. Transparency in earnings reports is critical, especially under scrutiny from global bodies like the IMF and FATF.

K-Electric attributes its reporting delay to the National Electric Power Regulatory Authority’s (NEPRA) pending approval of a Multi-Year Tariff (MYT) for 2023–2030. The MYT sets average tariff rates, crucial for operational planning and investment. However, investors argue this does not justify withholding earnings reports.

Sources suggest that K-Electric’s reasoning may be a cover for deeper issues. Reports point to discrepancies in power generation, supply, demand, and revenue data. The company’s investor activity—several major buy-ins and exits—adds to suspicion surrounding the lack of financial updates.

Investor Jibran Sarfraz questions the delay, asking why profit and loss figures from 2024 and 2025 can’t be disclosed. He argues that if fuel costs can be adjusted in future bills, MYT implementation delays shouldn’t affect financial reporting. The absence of earnings statements is driving reduced interest in K-Electric shares, with the stock price remaining around PKR 5.