AKD Securities Limited - Hascol Petroleum (HASCOL) Pakistan OMCs: Much needed off-season uptick for volumes,(AKD Daily, De 04, 2019)

Report

AKD Securities Limited

Shahrukh Saleem

EUR 8.59 For Business Accounts Only

Pakistan OMCs: Much needed off-season uptick for volumes,(AKD Daily, De 04, 2019)

Nov’19 volumetric offtake clocked in at 1.4mn tons, moving –11%MoM/+11%YoY with HSD sales making a comeback (increasing by 7%YoY), whereas declining prices have provided some support to FO volumes, increasing by 21%YoY.
For 5MFY20, volumes amounted to 7.3mn tons, receding 4%YoY exhausted by weak power demand (cumulative FO sales dip 13%YoY), where monthly average sales have dropped to 212k tons vs. 243k tons during 5MFY19.
In terms of market shares, PSO/APL/HASCOL account for market shares of 47/10/7% during Nov’19 where a comparison with Oct’19 reveals decreasing share of HASCOL by 1ppts while PSO increasing its share by 1ppt.
4%YoY decline in cumulative POL product sales for 4MFY20 underpins a fall in demand for POL products from the industrial segment mainly as slowing transport demand and tightening discretionary demand persist.
With major shifts underway, we advocate for building positions in APL, with the company having a strong balance sheet and steady pace of growth (devoid of any event-based developments, neutral to policy reforms or clearances) providing an attractive mix of defensive and growth credentials.

AKD Research

04/12/2019 3 EN

Underlying

Hascol Petroleum

Hascol Petroleum Limited is a Pakistan-based company, which is engaged in procurement, storage and marketing of petroleum and related products. The Company is involved in the sale of petroleum products, such as fuel oil, high speed diesel, gasoline, Jet A-1, liquefied petroleum gas (LPG) and lubricants. The Company offers products, such as Tiger Super, Rocket Diesel and Furnace Oil. The Company offers Fuchs Lubricants products, which include corrosion preventives, quenching oils, industrial lubricants, open gear lubricants, greases, automotive oil and metal working fluids. The Company also markets LPG as an automotive fuel through its retail network. The Company is engaged in owning, leasing and renting oil storage facilities, as well as importing petroleum products. The Company has storage facilities at Machike, Shikarpur and Daulatpur. The Company sells its product to dealers, government agencies and autonomous bodies, independent power project and other corporate customers.

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PK0108001014 Pakistan Stock Exchange Pakistan

Provider

AKD Securities Limited

AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.

AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.

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Analysts

Shahrukh Saleem

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Pakistan OMCs: Much needed off-season uptick for volumes,(AKD Daily, De 04, 2019)

Pakistan OMCs_OMC volumes rose by 28%YoY for May'22, (AKD Daily, Jun 02, 2022)

Pakistan OMCs_Retail fuels continue to remain strong! (AKD Daily, Jan 10, 2022)

Pakistan OMCs_APL continues to gain market share (AKD Daily, Jan 04, 2021)

Economic Survey FY25 - Poised for takeoff as growth rate is set to double

Stock Smart Weekly (May 16,2025)

Pakistan Strategy - IMF successful review strengthens case for strong rebound once geopolitical tensions subside, (AKD Daily May 10, 2025)

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