Pakistan OMCs_OMC volumes increase by 33%YoY for Apr'22 (AKD Daily, May 10, 2022)
AKD Daily
Pakistan OMCs: OMC volumes increase by 33%YoY for Apr’22
- OMC sales clocked in at 2.2mn tons for Apr’22, up 33%YoY while on MoM basis, sales witnessed an increase of 22%. The YoY increase was led by FO sales as power production on FO has increased due to low availability of gas resulting in a shift to other sources
- Overall, OMC volumes have increased by 17%YoY for 10MFY22 where FO took the lead with an increase of 26%YoY while MS/HSD posted increase of 11/19%YoY.
- PSO turned out to be the star performer for the month with an increase in total volumes of 58%YoY against increase in total industry volumes of 33%YoY where the difference was also visible in retail fuels segment with PSO’s retail fuels’ volume increasing by 28% YoY against 16%YoY of the industry, taking PSO’s market share to 50.9% for Apr’22 against 46.2/48.7% for Apr’21/Mar’22.
- APL (TP: PkR438/sh) is our top pick from the sector given i) company’s low leverage protecting it against any increase in interest rates, ii) high payout ratio of the company providing it attributes of a defensive play, and iii) improved storage network of APL expected to aid in enhancing market share.
AKD Research
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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