Pakistan OMCs_Ending FY21 on a high! (AKD Daily, Jul 02, 2021)
AKD Daily Pakistan OMCs: Ending FY21 on a high! · OMC sales closed FY21 on a high with total sales increasing by 19%YoY where furnace oil provided the major boost, increasing by 197/102% YoY/MoM driven by increased power production as temperatures across the country increase. · Overall, FY21 turned out to be a bumper year for OMC sales, with the second highest sales in history of 19.5mn tons, growing by 19%YoY where FO again took the lead as LNG woes resulted in government shifting back power production to FO. · Market shares remain fluid with PSO/APL/HASCOL/SHEL accounting for market shares of 47/8/4/8% during Jun'21 where a comparison with Jun'20 reveals decreasing share of PSO/APL by 5/2ppts while market share of SHEL increased by 1ppts. · PSO (TP: PkR305.6/sh, 36% upside) is our top pick where medium term developments include clearance of circular debt and shift in profile of cash flows due to increased share of retail fuels while focus on improving storage infrastructure will result in company sustaining the recently gained market share, moving forward. AKD Research
Shell Pakistan is engaged in the formulation, blending, distribution, marketing, import, export, and sale of the following petroleum products: gasoline, kerosine, aviation fuel, diesel oil under the Shell Rimula brand name, and furnace oil. Co. also operates a network of service stations and convenience stores.
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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