TITLE:
Portfolio Recovery Asymmetry in Nominal Sales: A Representativeness Audit of Pak Elektron Limited, Pakistan
AUTHORS:
Kamran Pitafi
KEYWORDS:
Nominal Sales, Aggregate Representativeness, Portfolio Analysis, Manufacturing Performance, Baseline Sensitivity
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.16 No.10,
October
20,
2026
ABSTRACT: Pak Elektron Limited reported 2025 gross sales 26.5% above its 2022 level. That increase coexisted with substantial shortfalls in two disclosed product categories. This study examines Portfolio Recovery Asymmetry (PRA), a reference-dependent condition in which aggregate nominal sales exceed a specified baseline while some comparable constituents remain below it. An embedded case study uses eight full-year category series for 2022-2025, covering 99.01% of reference-year company gross sales; unresolved reconciliation residuals limit quantitative representativeness claims to the matched panel. The audit combines an exact portfolio identity with weighted dispersion, the sales weight and depth of directional disagreement, observed regain timing, and contribution reconciliation. In 2025, the matched index reached 127.8, yet 27.3% of reference-year sales weight remained below baseline. Power transformers reached an index of 141.4 in 2024 before falling to 71.7 in 2025. Directional disagreement persists under alternative weights, every single-category omission, and bounded 5% perturbations of reference and endpoint sales. Rebasing exposes a material qualification: all eight categories exceed their 2023 sales in 2025. PRA therefore depends on the substantive comparison being made. The contribution is a reproducible protocol for checking whether a headline sales trajectory supports category-level statements. It neither measures operational resilience nor identifies the causes of divergence. Its practical use is to locate decisions that require constituent evidence before resources are committed.