Analyst Briefing FY-2024-25
TPL Group
Overview of the Group
Diversified Entrepreneurial Group, seeking to redefine and lead in the markets it operates, incl. Insurance, Real Estate, LogiTech
~65% | ~53% | ~97% | ~40% |
25% 100%
~30% 100%
Astra Location Services (Singapore) Pte. Ltd
100%
Astra Location Services (Pvt) Ltd.
100%
100% 100% 38% 100%
100%
6 Listed on the PSX PKR 40 Bn+ Market Cap
Presence in GCC Region
Credit Rating: A
1500+ Trained Workforce
2
About TPL Trakker
Industry Leader in Tracking and IoT from 25 years
Company Overview
Trakker Middle East
Corporate Restructuring
Market leader with over 25 years of deep expertise in Connected Car, Data Mapping and Location Services, and Industrial IoT solutions
TPL Trakker (PSX: TPLT)
Dominant player within the telematics space with 42% market share
TPL Trakker
(PSX: TPLT)
Monitoring 135,000+ active vehicles
12 years of expertise to track transshipment cargo
TPL Maps
GCC subsidiary, in partnership with Gargash group Trakker Middle East will be expanding in GCC countries.
Relevant Strength
In-house Engineering Expertise
In-house Software Development Expertise
Relationship with Top Corporates of Pakistan
IoT Sensors Expertise
Years of Data - From Trakker & Associated Companies
Highly Qualified & Experienced Management
Key Financial Highlights
TPL Security
Market Leader in the Telematics & LBS Space across Pakistan | ||
Connected Car | Digital Mapping and Location Services | Industrial IoT Solutions |
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|
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Revenue (FY25)
PKR 1.77 Bn
TPL Ownership
65 %
3
OUR DIVERSE CLIENTELE
OIL & GAS PHARMA TEXTILE FMCG
INSURANCE
GOVT BANKING CHEMICAL LOGISTICS TELECOM ON DEMAND ENERGY AMBULANCE
TPL Trakker
Performance Review
Units Tracked
Stolen Vehicle Recovery
Total Active Customers
Total Distance (KM) -Cars
550,000+
90%
135,000+
1.2 billion+
Total Distance (KM) -Fleet
Total Trucks
Total Cars
Total IOT
1 billion+
60,000+
472,000+
60,000+
Location Data Points
Monthly Active Users
Total Digital Users
Shipments Completed
8 million+
60,000+
180,000+
789,500
Total Containers Tracked
Total Alarms Monitored
975,000 10,844,004
From Challenges to Resolution
Our product portfolio and solutions
Our Product Offering
Telematics & IoT Solutions
Vehicle/Fleet Tracking
Video Telematics
Real-time monitoring and analytics for cars, bikes, and fleets to ensure safety, efficiency, and control.
AI-powered camera solutions for driver behavior analysis and incident verification.
Personal & Pet Tracking
Genset Monitoring
GPS-enabled for individuals and wearables pet's devices, ensuring realtime safety, location visibility, and activity monitoring
Remote tracking of generator performance, fuel usage, and maintenance needs.
Expanding Horizons
From Telematics Excellence to IoT Innovations
Our Product Offering
Telematics & IoT Solutions
Fuel Monitoring
IoT-based sensors to track fuel levels, consumption, and theft prevention.
Water Level Monitoring
Automated sensing systems for reservoirs and tanks to manage water usage efficiently.
Smart Farm Management Dispatch Solution
Automates dispatching and routing to
Precision IoT solutions for soil,
crop, and equipment monitoring to optimize yield.
Moveable Asset Tracking
ty
s.
End-to-end visibility and securi for mobile assets and shipment
improve efficiency and real-time visibility
Cold Chain Monitoring
IoT-enabled temperature and humidity tracking to ensure product quality and compliance across the supply chain.
Geographical Presence Across Pakistan
With a robust presence across Pakistan, TPL Trakker has established strategically located offices and facilitation centers in major hubs to ensure seamless service and convenience for our customers.
TPL Trakker combines a massive regional footprint with localized care. While our core network spans offices in Karachi, Lahore, Islamabad, Faisalabad, Multan, and Hyderabad, we are also the only tracking provider in Pakistan to offer dedicated Facilitation Centers.
Financial Summary FY 24-25
TPL Trakker
Quarter on Quarter Financial Performance Highlights for FY 2024- 2025
`
Six months Period ended Dec 31, 2024
Nine months Period ended Mar 31, 2025
Year ended Jun 30, 2025
Comments
------- Rs. '000' -------- The sequential improvement in
Turnover - net | 1,149,741 | 1,487,814.98 | 1,773,166 | ||
Cost of sales | (642,929) | (899,859.77) | (1,041,046) | ||
Gross profit | 506,812 | 587,955 | 732,120 | ||
Distribution expenses | (56,085) | (85,763) | (98,434) | ||
Administrative expenses | (206,117) | (311,111) | (352,973) | ||
Operating profit | 244,610 | 191,081 | 280,713 | ||
Research and Development expenses | (38,385) | (57,297) | (65,809) | ||
Other expenses | (64) | (1,457) | (36,897) | ||
Finance cost | (200,443) | (270,234) | (337,245) | ||
Other income | 71,309 | 86,370 | 144,869 | ||
(Loss) / profit before income tax and levies | 77,027 | (51,538) | (14,368) |
operating profit, and bottom-line results demonstrates that the business has effectively stabilized post-STE. With strengthened revenues and enhanced operational efficiencies, the company is well-positioned to sustain profitability moving forward.
TPL Trakker
Summary Financial Performance Highlights for FY 2024- 2025
Al`l amount in PKR'000
FY 25 Standalone | FY 24 Standalone | Variance (%) | FY 25 Consolidated | FY 24 Consolidated | Variance (%) | |
Turnover | 1,773,166 | 2,542,597 | (30%) | 1,832,262 | 3,214,505 | (43%) |
Operating Profit | 280,713 | 602,606 | (53%) | 184,795 | 517,547 | (64%) |
Finance Cost | (337,245) | (515,041) | 35% | (343,109) | (547,265) | 37% |
(loss) / (Loss) after Taxation | (69,948) | 135,024 | (152%) | 3,800 | (104,238) | 104% |
Earnings per share (Rs) | (0.37) | 0.72 | (152%) | 0.07 | 0.03 | 147% |
Company Wise Revenue Performance | FY 25 | FY 24 | Variance (%) |
TPL Trakker Limited | 1,773,166 | 2,542,597 | (30%) |
Astra Location Services (MAPS) | 66,777 | 248,882 | (73%) |
Trakker Middle East (TME) | - | 430,708 | (100%) |
Gross Consolidated Revenue | 1,839,943 | 3,222,187 | (43%) |
Elimination - Inter-company transaction | (7,682) | (7,682) | |
Net Consolidated Revenue after Elimination | 1,832,262 | 3,214,505 | (43%) |
TME 584,643 430,708 36%
Note: Effective January 1, 2025, TME's classification has changed from a subsidiary to an associate. Therefore, revenue has been recognized up to December 31, 2024 in consolidation (Revenue till Dec-24 amounting Rs. 294 million.
Comments (standalone)
Revenue declined mainly due to the closure of the STE project. Excluding this planned transition, the core business continued to demonstrate stable and consistent performance.
Gross profit reflected the absence of STE; however, underlying core business margins remained stable.
Operating profit decreased in line with lower gross profit, but this impact was effectively mitigated through enhanced cost discipline in admin & distribution expenses.
Overall, despite the impact of STE business, the Group's core operations remain resilient.
Future Prospects
Enhance the TPL Trakker application to deliver an improved customer experience through the integration of advanced IIoT capabilities and AI-driven solutions.
Strengthen TPL Maps by building strategic alliances and rolling out new, value-added features to expand functionality and market relevance
Drive technology-led, one-window security solutions under TPL Security, offering integrated, end-to-end security services through a unified platform.
TPL Trakker
Profit & Loss Statement for FY 2024- 2025
`
All amount in PKR'000 except EPS
FY 25 Standalone | FY 24 Standalone | Variance (%) | FY 25 Consolidated | FY 24 Consolidated | Variance (%) | |
Turnover | 1,773,166 | 2,542,597 | (30%) | 1,832,262 | 3,214,505 | (43%) |
Cost of sales | (1,041,046) | (1,389,260) | 25% | (1,129,084) | (1,800,513) | 37% |
Gross profit | 732,120 | 1,153,337 | (37%) | 703,178 | 1,413,992 | (50%) |
Administrative expenses | (352,973) | (412,359) | 14% | (404,176) | (754,933) | 46% |
Distribution expenses | (98,434) | (113,468) | 13% | (114,206) | (141,512) | 19% |
Operating profit | 280,713 | 627,510 | (55%) | 184,795 | 517,547 | (64%) |
Research and Development expenses | (65,809) | (79,295) | 17% | (77,071) | (93,179) | 17% |
Other expenses | (36,897) | (97,931) | 62% | (152,000) | (73,027) | (108%) |
Finance cost | (337,245) | (515,041) | 35% | (343,109) | (547,265) | 37% |
Other income | 144,869 | 254,756 | (43%) | 480,439 | 139,353 | 245% |
Share of loss from associate | - | - | - | (14,329) | - | (100%) |
Earnings before taxation | (14,368) | 189,999 | (108%) | 78,725 | (56,571) | 239% |
Taxation | (55,580) | (54,974) | (1%) | (54,791) | (47,667) | (15%) |
Earnings after taxation | (69,948) | 135,024 | 152% | 23,935 | (104,238) | 123% |
Earnings per Share (Rs) | (0.37) | 0.72 | 152% | 0.07 | 0.03 | 159% |
Note: Standalone Financials excludes Maps and TME
Consolidated Financials excludes inter-company transactions
TPL Trakker
Four Years Profit & Loss Statement 2022-25 - Unconsolidated
All amount in PKR'000
`
2025 | 2024 | 2023 | 2022 |
Turnover - net | 1,773,166 | 2,542,597 | 2,253,140 | 2,106,469 |
Cost of sales and services | (1,041,046) | (1,389,260) | (1,412,374) | (1,360,234) |
Gross profit | 732,120 | 1,153,337 | 840,765 | 746,234 |
Distribution expenses | (98,434) | (113,468) | (112,643) | (105,861) |
Administrative expenses | (352,973) | (437,263) | (388,305) | (359,924) |
Operating profit | 280,713 | 602,606 | 339,817 | 280,449 |
Research and development expenses | (65,809) | (79,295) | (76,550) | (77,655) |
Other expenses | (36,897) | (73,027) | (44,676) | (15,422) |
Finance costs | (337,245) | (515,041) | (535,751) | (311,536) |
Other Income | 144,869 | 254,756 | 318,278 | 210,638 |
(Loss) / profit before taxation | (14,368) | 189,999 | 1,118 | 86,474 |
Taxation | (55,580) | (54,974) | (43,392) | 110,641 |
(Loss) / profi after taxation | (69,948) | 135,024 | (42,274) | 197,115 |
Core margins remain stable, with 2025 reflecting revenue normalization after a strong 2024.
Earnings moderation is largely attributable to operating leverage and financing costs rather than structural issues.
Management growth priorities are focused on expanding the top line through technology-led revenue vectors
TPL Trakker
Four Years Profit & Loss Statement 2022-25 - Consolidated
`
All amount in PKR'000
2025 | 2024 | 2023 | 2022 |
Turnover - net | 1,832,262 | 3,214,505 | 2,784,560 | 2,342,487 |
Cost of sales and services | (1,129,084) | (1,800,513) | (1,715,794) | (1,533,007) |
Gross profit | 703,178 | 1,413,992 | 1,068,766 | 809,480 |
Distribution expenses | (114,206) | (141,512) | (129,643) | (106,803) |
Administrative expenses | (404,176) | (754,933) | (679,822) | (582,262) |
Operating profit | 184,795 | 517,547 | 259,300 | 120,415 |
Research and development expenses | (77,071) | (93,179) | (86,632) | (77,655) |
Other expenses | (152,000) | (73,027) | (44,676) | (15,422) |
Finance costs | (343,109) | (547,265) | (558,736) | (311,907) |
Other Income | 480,439 | 139,353 | 250,858 | 196,791 |
Other Income | (14,329) | - | - | - |
Profit / (Loss) before taxation | 78,725 | (56,571) | (179,886) | (87,777) |
Taxation | (54,791) | (47,667) | (49,148) | 110,641 |
Profit / (loss) after taxation | 23,935 | (104,238) | (229,033) | 22,863 |
Outlook on Key Levers for FY26
Key Challenges Solutions
Supply Chain Disruptions
Economic Pressures and High inflation
Infrastructure Limitations
Data Security Concerns
Market Competition
Regulatory Complexity
Introducing industry-specific IoT applications for logistics, agriculture and energy sectors, tailored for enhanced operational control.
Rolling out intelligent fuel tracking solutions to optimize consumption and prevent pilferage, addressing rising fuel costs.
Operations and Cost Outlook
Integrated Process Automation: Deploying unified platforms combining AI and IoT for seamless operations and cost reductions.
Continuous Improvement Framework: Establishing a dedicated task force to identify and implement cost-saving initiatives across all departments.
Dynamic Supply Chain Optimization: Adopting predictive analytics to anticipate demand and minimize excess inventory and associated costs.
Tech Synergy for Savings: Partnering with leading tech providers to deploy scalable, cost-effective IT and connectivity solutions.
Cloud-First Strategy: Migrating core services to the cloud for increased agility and significant long-term cost benefits.
Customer-Centric Product Development: Aligning consumer-facing applications with feedback-driven priorities to enhance user adoption and minimize resource waste.
Targeting corporate fleets with AI-powered dashboards, predictive maintenance and cost optimization tools.
Offering scalable telematics platforms with real-time data analytics to meet diverse client needs in logistics, retail and manufacturing.
Delivering end-to-end visibility and control for high-value assets through IoT-enabled tracking and condition monitoring, ensuring security and operational efficiency.
Expanding market reach with advanced smart home solutions offering security, energy efficiency and seamless integration.
Key Business RisksKey Business Risk
Revenue & Market Risk: High reliance on traditional vehicle tracking; new IoT and data solutions are still scaling. Demand linked to transport, logistics, and auto sector activity.
Technology & Competition Risk: Rapid innovation cycle and strong competition require continuous investment to avoid technology obsolescence.
Cost & FX Exposure: Dependence on imported hardware exposes margins to foreign exchange volatility and supply chain disruptions.
Macroeconomic Risk: Inflation, interest rates, and economic uncertainty in Pakistan may reduce customer spending and profitability.
Financial Risk: Leverage and financing costs can pressure cash flows during periods of lower earnings.
Regulatory & Compliance Risk: Changing regulations related to telematics, data privacy, cybersecurity, and sector-specific requirements may increase compliance costs.
Execution & Cyber Risk: Expansion into new IoT verticals carries execution risk; data security breaches could damage reputation and trust.
Marketing and Communication
Marketing - Digital Campaigns
Twin Win - Nov / Dec 2024 Pinktober - Oct 2024
Launched the Twin Win Black Friday campaign to drive maximum leads, and to boost engagement, featured a cell phone giveaway for the winner.
We rolled out a limited-time discount campaign on our tracking devices, aligning the need for smart security with Breast Cancer Awareness
Total Leads (Online) | 531 | Total Leads (Online) | 4,019 | |||
Total Impressions | 145,593 | Total Impressions | 697,595 |
Marketing - Digital Campaigns
Azadi Sale - Aug 2024 Pak Ramadan Offer - Mar 2024
Launched the Independence Day campaign to drive maximum leads, featuring a 19.47% discount and high-impact Meta advertising to boost engagement.
A promotional campaign designed to boost brand visibility and drive strong lead generation during Ramadan.
Total Leads (Online) | 2,306 | Total Leads (Online) | 1,824 | |||
Total Impressions | 481,857 | Total Impressions | 526,883 |
4.6 4.3
Facebook Instagram
5
3.5 4.4
4.1 4
0
Karachi
Lahore
Rawalpindi
Islamabad
Faisalabad
10
14.1
15
16
20
20.8
25
30
30
35
Audience City Wise Breakup
Social Media
Social Media Growth
Leveraged all three platforms with varied content to promote our services and brand building
Reach Engagement New Followers Page Visitors
29.4M
72.7K
2.4K
101.7K
535.6K
262
365
7K
128K
5.4K
Gender Split
Women 14%
Men 86%
Men Women
2.4K
14.5K
Digital Ads Performance Overview
Key Insight: Conversion performance has steadily climbed throughout the fiscal period, peaking in June '25. This positive momentum validates our current optimization efforts and provides a high-confidence baseline for scaling operations in the upcoming quarter.
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
4.1% 4.1%
Conversion Ratio
6.4% 6.3%
5.5%
3.4%
6.0%
5.2%
5.9%
Oct Nov Dec Jan Feb Mar Apr May Jun
Some expected fluctuations, but our overall ad performance is on a clear 6upward path as we continue to 5
optimize our strategy.
Historical Performance
Oct' 24 to Jun' 25
Oct' 24 | Nov' 24 | Dec' 24 | Jan' 25 | Feb' 25 | Mar' 25 | Apr' 25 | May' 25 | Jun' 25 | |
Revenue | 3,564,335 | 4,293,955 | 5,091,440 | 5,007,690 | 4,312,692 | 2,312,971 | 4,250,995 | 4,690,225 | 4,828,525 |
Spent | 347,549 | 536,047 | 563,893 | 418,941 | 606,443 | 632,499 | 610,596 | 706,260 | 638,985 |
ROAS | 10.26 | 8.01 | 9.03 | 11.95 | 7.11 | 3.66 | 6.96 | 6.64 | 7.56 |
layouts and intuitive ey need without
timized interactions clicks and save time.
Platforms: A unified same smooth journey
reshed visual identity sthetically pleasing.
Revamped UI/UX Acr
Enhanced Digital Experience: UI/UX & Website Revamp
Seamless Navigation: Cleaner flows help users find what th friction.
Faster Access to Features: Op and smart structuring reduce
Consistent Experience Across design language ensures the on both mobile and web.
User-Friendly Interface: A ref that's both functional and ae
A collaborative training session with
On-ground Activities
Happy Birthday - Nov '24
Independence Day Celebration - Aug '24 The Hunar Foundation - Oct '24
Rise for Success Workshop - Sep '24
Town Hall - Dec '24
Corporate Dinner (Suzuki) - Jan '24
On-ground Activities
Pinktober - Awareness Session - Mar '24
Trakker Wellness Activity Day - Apr '24
Employee of the Month Celebration - Apr '24
Technicians Day - Jun '24
Salim Habib
Self Defense Session
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TPL Trakker
Key FY25 Achievements : Telematics & IOT (TME)
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Continuing to build on the momentum across a blue-chip client base in UAE with strong potential for GCC expansion.
Telematics
Closed deal for Cheetah Delivery for IVMS solution for over 300 motor bikes used for delivery services across UAE.
Successfully completed the implementation of an IVMS Noon Delivery in UAE and Saudi Arabia (more than 320 vans).
Pilot solution implemented for Americana food to provide a cold chain monitoring solution for their fleet. Potential to win the project for their entire fleet.
IoT Solutions
First project in Africa (Chad) for more than 400 fuel sensors.
Signed with Power Fleet one of the most advance platform providers in the world for complicated IOT&Telematics
Deal with Sobha to provide a driver monitoring system for more than 80 units to be finalized soon.
LPO received from Hills and Fort for 2 mobile tanks for fuel dispensing solution
Compliance
Started to provide Asateel services in AUH
More than 170 cars closed with Elite rent a car in SIRA RAC
New installations for Baniyas in SIRA premium
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TPL Maps
Using Location Data and AI to help enterprises optimize their supply chains
Location Data
Plug C Play APIs that support business operations with tools such optimized routing, live tracking C navigation, geofencing, geo-marketing and more.
Location Intelligence
AI platforms and APIs that drive profitability improvements through supply chain optimization, order allocation, demand modelling, network planning, and other white space analysis.
GIS as a Service
Custom platforms and AI model development, as well as dedicated field surveys, data gathering, digitizing and processing capabilities in geospatial data sets and more.
Consumer
Pakistan's first local Navigation App that facilitates mobility with fuel cost optimisation, public transport data and local language navigation.
380+
Cities
8,000,000+
Homes C Businesses
1,000,000+
1,000,000,000+
API Calls - (30 mln calls p.m.)
KM Roads
30
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