Itanz Technologies Limited

Important PSX Risk Warning Alert

The Pakistan Stock Exchange company page currently displays the following Risk Warning Alert:

The Company is in continuous violation as specified in Clauses 5.11.1. or 5.11.2. and carry risk of suspension of trading or being delisted from the Exchange and may be subject to such terms and conditions as specified by the Exchange.

This warning is a material consideration for investors. Check the latest PSX announcements to understand the underlying compliance issues and whether the exchange has published any subsequent update. Shariah-compliant classification does not remove regulatory, trading, liquidity, or financial risks.

Source: Official PSX company page — ITANZ.

Company Overview

Itanz Technologies Limited (PSX: ITANZ) is a Pakistani listed company that was incorporated on April 21, 1990. It was formerly known as Zahur Cotton Mills Limited. Following a court-approved scheme of arrangement involving ITANZ Technology (Private) Limited, the listed company transitioned its principal business toward information technology and IT-enabled services.

The company's registered office is listed at 623-B, PCSIR Phase II, Lahore, Pakistan. Its business description on PSX includes consultancy services in information technology, software development, installation and implementation, and other related supplies and services.

Sources: PSX company profile and FY2025 annual report.

Business Model

ITANZ's stated technology activities include:

• Software development: Designing and developing software for business and institutional requirements.
• IT consultancy: Providing technology-related advice and implementation support.
• System implementation: Installing and integrating technology solutions.
• IT-enabled services: Providing associated technical and enterprise services.

In September 2026, VIS Credit Rating Company reported that ITANZ had acquired a 51% controlling equity stake in Australia-based ITANZ Infinity Pty Ltd during FY2026. VIS also described the group as operating across software platforms, enterprise technology implementation, data integration, cloud, and automation. Its rating release highlighted significant revenue concentration in ITANZ Infinity, an issue investors should examine in the group's financial disclosures.

Source: VIS credit rating announcement, September 22, 2026.

Financial Performance

The PSX financial summary reports the following figures:

Financial metric	FY2026	FY2025
Sales	Rs758.20 million	Rs441.52 million
Earnings per share (EPS)	Rs15.88	Rs16.71

The PSX summary also reports sales of approximately Rs382.35 million and EPS of Rs2.73 for the quarter ended September 30, 2026, shown as Q1 FY2027.

These summary figures should be read alongside the original financial statements. Revenue, earnings per share, and net profit may be affected by changes in the company's business structure, merger accounting, share capital, and other income. Investors should not rely on EPS alone to judge recurring operating performance.

Source: PSX financials and company announcements.

Shariah Compliance Status

Itanz Technologies Limited was included among the incoming companies in the PSX-KMI All Share Islamic Index recomposition notice dated May 29, 2026. The index review was based on Shariah status determined using accounts as of December 31, 2025.

The recomposition notice establishes inclusion in that review, but it does not itself provide ITANZ's individual screening ratios in the listed summary. Those ratios are therefore not reproduced here. Investors should check the latest official index constituents and subsequent screening disclosures before relying on the classification.

Source: Official PSX-KMI All Share Islamic Index recomposition.

Key Risks to Consider

PSX regulatory warning: The company page currently displays a Risk Warning Alert concerning continuous violations and potential suspension or delisting. Review the latest exchange notices before making any investment decision.

Business transition: The company has moved from a textile-related business toward IT services. Historical figures may not be directly comparable across periods.

Revenue concentration: VIS highlighted a high concentration of group revenue in ITANZ Infinity. Investors should review related-party balances, cash collections, and the terms of the acquisition.

Earnings quality: Assess recurring operating revenue and profit separately from other income, accounting adjustments, or merger-related effects.

Liquidity and trading risk: Check trading status, free float, share-capital changes, and the latest PSX announcements.

Shariah screening changes: Index inclusion relates to a specific review date and does not guarantee continued compliance in future reviews.

How Investors Can Research ITANZ

Before evaluating the stock, read the latest annual report, quarterly statements, PSX announcements, and credit-rating release. Pay particular attention to the Risk Warning Alert, the transition to technology services, the financial contribution of ITANZ Infinity, cash-flow generation, related-party transactions, and any changes to share capital.

Review the latest official Shariah screening information separately from the company's regulatory status and financial condition.

Official Resources

• PSX company profile, financials, and announcements
• ITANZ Group website
• FY2025 annual report
• VIS credit rating announcement
• PSX Shariah-compliant investment resources

This profile is for company research and investor education. Historical financial results and past Shariah index inclusion do not guarantee future performance or continued compliance.