AKD Securities Limited - Pakistan State Oil Co. (PSO) Pakistan OMCs_Retail throughput remains strong for 1QCY22, (AKD Daily, May 30, 2022)

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AKD Securities Limited

EUR 9.24 For Business Accounts Only

Pakistan OMCs_Retail throughput remains strong for 1QCY22, (AKD Daily, May 30, 2022)

AKD Daily

Pakistan OMCs: Retail throughput remains strong for 1QCY22!

Increase in volumes directly lifted throughput levels, with 1QCY22 retail volumes at 4.2mn tons, up 17%YoY largely due to a 24%YoY increase in HSD while on sequential basis, retail fuel volumes faced a decline of 5%.
Company-wise, HASCOL/SHEL/APL/PSO delivered throughput levels of 135k/800k/605k/708kltrs/outlet for the quarter, moving -56%/+30%/+27%/+28%YoY and -10%/+8%/-6%/-2%QoQ taking total average industry throughput +20%YoY/-2%QoQ to 700k ltrs/outlet
Difference between throughput level of MS and HSD increased to 110k ltrs/outlet against 86k ltr/outlet for 4QCY21 which we attribute to higher use of HSD for power production as country faces an electricity shortage.
Moving forward, with overall competitive landscape improving and phasing out of furnace oil, retail fuels will continue to be the mainstay of the sector while competition from private players also intensifies

AKD Research

30/05/2022 3 EN

Underlying

Pakistan State Oil Co.

Pakistan State Oil is a petroleum group based in Pakistan. Co.'s principal activities are the procurement, storage and marketing of petroleum and related products. Co. also blends and markets various kinds of lubricating oils.

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PK0022501016 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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Pakistan OMCs_Retail throughput remains strong for 1QCY22, (AKD Daily, May 30, 2022)

PSO 1QFY24 & PSMC 3QCY23 Result Previews, (AKD Daily Oct 19, 2023)

The Pump, (AKD Monthly Report, August 10' 2023)

PSO & APL 4QFY23 Result Previews, (AKD Daily Aug 08 2023)

KOHC 3QFY24 Result Review - Lower offtakes lead to profit decline (AKD Off the Analyst's Desk Apr 25, 2024)

CHCC_3QFY24 Result Review —Gross margin contraction leads to earnings decline(AKD Off the Analyst's Desk Apr 25, 2024)

FFBL 1QCY24 Result Review—Increased earnings amidst normalized tax charge, (AKD Off the Analyst's Desk Apr 25, 2024)

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