reports
- Shahrukh Saleem
Pakistan OMCs_Retail fuels continue to remain strong! (AKD Daily, Jan ...
AKD Daily Pakistan OMCs: Retail fuels continue to remain strong Increase in volumes directly lifted throughput levels, with 4QCY21 retail volumes at 4.5mn tons, up 6%YoY largely due to a 8%YoY increase in HSD while on sequential basis, retail fuel volumes remained flat. Company-wise, HASCOL/SHEL/APLPSOdeliveredthroughputlevelsof151k/742k/642k/725k ltrs/outlet for the quarter, moving -71%/+15%/+25%/+14%YoY and +23%/+5%/+9%/-2%QoQ taking total average industry throughput +6%YoY/-0.5%QoQ to 7...
- Shahrukh Saleem
Pakistan Cement_Seasonality taking a toll on local cement dispatches, ...
AKD Daily Pakistan Cement: Seasonality taking a toll on local cement dispatches Local cement dispatches fell prey to seasonality and stood at 4.1mn tons for Dec’21, declining by 3.0/1.6% YoY/MoM. Region wise, the decline was more pronounced in North with the region witnessing a decline in dispatches of 3.5/2.7% YoY/MoM Overall we expect the local demand to remain strong for FY22 as economic activity continues to pick up where private sector is expected to provide the major support to demand...
- Shahrukh Saleem
Pakistan OMCs_APL continues to gain market share (AKD Daily, Jan 04, 2...
AKD Daily Pakistan OMCs: APL continues to gain market share OMC sales clocked in at 1.5mn tons for Dec’21, down 6%YoY while on MoM basis, sales witnessed a decline of 14%. The YoY decrease was led by FO sales as power production on FO has declined while MS posted an increase of 4%YoY and HSD remained flat for the month on YoY basis. Overall, OMC volumes have increased by 14%YoY for 1HFY22 where FO took the lead with an increase of 17%YoY while MS/HSD posted increase of 10/17%YoY. APL t...
- Shahrukh Saleem
Pakistan OMCs_OMC volumes increase by 2%YoY for Nov'21! (AKD Daily, De...
AKD Daily Pakistan OMCs: OMC volumes increase by 2%YoY for Nov’21! OMC sales clocked in at 1.8mn tons for Nov’21, up 2%YoY while on MoM basis, sales witnessed a decline of 12%. The YoY increase was led by FO sales as power production on FO has increased while HSD posted a meagre increase of 1%YoY and MS remained flat for the month on YoY basis. Overall, OMC volumes have increased by 18%YoY for 5MFY22 where FO took the lead with an increase of 28%YoY while MS/HSD posted increase of 11/20%Yo...
- Shahrukh Saleem
Pakistan OMCs_Retail fuels continue to remain strong, (AKD Daily, Nov ...
AKD Daily Pakistan OMCs: Retail fuels continue to remain strong Increase in volumes directly lifted throughput levels, with 3QCY21 retail volumes at 4.5mn tons, up 20%YoY largely due to a 27%YoY increase in HSD while sequential decline in retail fuels’ volume stood at 1%. Company-wise, HASCOL/SHEL/APL/PSO delivered throughput levels of 122k/703k/590k/740k ltrs/outlet for the quarter, moving -75%/+26%/+27%/+24%YoY and -63%/+2%/+11%/+4%QoQ taking total average industry throughput +14%YoY/+1.3...
- Shahrukh Saleem
Pakistan Cement_All set for good days ahead! , (AKD Daily, Nov 09, 202...
AKD Daily Pakistan Cement: All set for good days ahead! Local cement dispatches declined by 5%YoY for Oct’21 where Northern region witnessed a decline of 8%YoY while South posted an increase of 11%YoY. Sequentially, 15%MoM increase was witnessed in local dispatches. Overall we expect the local demand to remain strong for FY22 as economic activity continues to pick up where private sector is expected to provide the major support to demand. However, exports are expected to take a hit in near ...
- Shahrukh Saleem
Pakistan OMC volumes increase by 17%YoY for Oct'21, (AKD Daily, Nov 02...
AKD Daily Pakistan OMC volumes increase by 17%YoY for Oct’21 OMC sales clocked in at 2.0mn tons, up 17%YoY while on MoM basis, a meagre improvement of 1%MoM was witnessed. The increase was led by HSD with an increase of 25/18% YoY/MoM where we believe apart from improved business activity, curb in smuggling also played a part after border controls were increased. Overall, OMC volumes have increased by 22%YoY for 4MFY22 where FO witnessed the highest increase of 32%YoY on the back of increas...
- Shahrukh Saleem
FCCL_1QFY22 EPS clocked in PkR0.98 - Above expectations, (AKD, Off the...
AKD, Off the Analyst's Desk FCCL: 1QFY22 EPS clocked in PkR0.98 – Above expectations Fauji Cement Company Limited (FCCL) announced result for 1QFY22 where EPS clocked in at PkR0.98, up 95/79% YoY/QoQ. The result was above our expectation mainly on account of higher than expected topline where we believe higher than expected dispatches played a part. Topline clocked in at PkR6.9bn, up 26/3%YoY/QoQ where the significant increase on YoY basis was largely a result of increase in dispatches whil...
- Shahrukh Saleem
LUCK_Unconsolidated EPS clocked in PkR10.16 - Above expectations, (AKD...
AKD, Off the Analyst's Desk LUCK: Unconsolidated EPS clocked in PkR10.16 – Above expectations Lucky Cement Limited (LUCK) announced 1QFY22 result where company posted unconsolidated PAT of PkR3.3bn (EPS: PkR10.2), up 48/38% YoY/QoQ. The result was significantly above our expectations as major deviation occurred in net sales where we believe lower than expected discounts played a part. Net sales clocked in at PkR16.9bn for 1QFY22, increasing by 18%YoY as overall local dispatches for the indu...
- Shahrukh Saleem
KSE-100 needs a Babar-Rizwan partnership! (AKD Special Feature, Oct 26...
AKD Special Feature KSE-100 needs a Babar-Rizwan partnership! Pre-budget, a consensus target of above 50k was set for KSE-100. Shaheen Shah Afridi struck early blows to help the team as news of upcoming incentives for various sectors produced a rally in specific sectors. Then came on the slow fight back from the opposition as the field was spread out, the delay in incentives provided to various sectors including Refinery and Automobiles leading to continuous slippage in the KSE-100. Now co...
- Shahrukh Saleem
APL & POL_1QFY22 Result Preview, (AKD Daily, Oct 21, 2021)
AKD Daily APL & POL_1QFY22 Result Preview APL to post EPS of PkR16.44 for 1QFY22: Attock Petroleum Limited (APL) is expected to announce its result today for 1QFY22 where we expect the company to post PAT of PkR1.6bn (EPS: PkR16.44), increasing by 10/30%YoY/QoQ. The topline of the company is expected to stand at PkR68.9bn, increasing by 53/30%YoY/QoQ where a confluence of increasing prices and dispatches played a role. To note, APL’s sales volumes witnessed an increase of 23%YoY for 1QFY22 aga...
- Shahrukh Saleem
Pakistan Cement_Profitability to decline sequentially for 1QFY22, (AKD...
AKD Daily Pakistan Cement: Profitability to decline sequentially for 1QFY22, AKD Cement Universe is expected to post a PAT of PkR5.1bn for 1QFY22 against PAT of PkR3.2bn for 1QFY21 however on sequential basis, a decline is expected as coal prices take a toll on margins and profitability of players. Moving forward, the sequential decline is expected to continue into 2QFY22 as coal prices continue to increase, currently trading at USD230/ton against effective price of USD100-110/ton for 1QFY2...
- Shahrukh Saleem
Pakistan Cement_Local cement sales increase by 4.2%YoY for 1QFY22, (AK...
AKD Daily Pakistan Cement: Local cement sales increase by 4.2%YoY for 1QFY22, Local cement dispatches for Sep’21 clocked in at 4.0mn tons, up 5.3%MoM however declining by a mere 1.7% on YoY basis. Both the regions witnessed a rather tepid month with North witnessing local sales of 3.5mn tons (-2/+10% YoY/MoM) while South witnessed local sales of 0.6mn tons (-15.8% MoM). Overall, for 1QFY22, local sales have increased by 4.2%YoY to 11.3mn tons where local sales in North have remained flat a...
- Shahrukh Saleem
Pakistan OMCs_Sales for Sep'21 increased by 29%YoY, (AKD Daily, Oct 05...
AKD Daily Pakistan OMCs: Sales for Sep’21 increased by 29%YoY, OMC sales for Sep’21 clocked in at 2.0mn tons, up 29%YoY majorly due to low base as COVID-19 related restrictions kept the base low in Sep’20 however on MoM basis, sales remained flat. The YoY increase was led by HSD increasing by 51%YoY while MS witnessed an increase of 25%YoY. Overall, for 1QFY22, OMC sales have increased by 24%YoY where FO led the pack with an increase of 38%YoY while MS/HSD posted an increase of 14/27%YoY. ...
- Shahrukh Saleem
Pakistan Oil & Gas_Crack spreads reacting to energy crunch, (AKD Daily...
AKD Daily Pakistan Oil & Gas: Crack spreads reacting to energy crunch, Refining margins continue to tread on the same path with spreads for HSD/MOGAS remaining at USD2.4/3.6/bbl for first fifteen days of Sep’21 where HSD spreads rebound sharply from USD0.54/bbl for last fifteen days of Aug’21 Even though export of MOGAS from China and India has declined, the cracks continue to trade in the range of USD4-6/bbl as demand of the product is facing a slower recovery compared to HSD which is main...
- Shahrukh Saleem
Pakistan Cement Conference - Key takeaways, (AKD Daily, Sep 16, 2021)
AKD Daily Pakistan Cement Conference – Key takeaways AKD Securities Ltd. organized Pakistan Cement Conference where some of leading local cement manufacturers, namely LUCK, DGKC, ACPL and GWLC participated and shed light on industry’s and their company’s outlook over short to medium term. On the demand side, optimism was noted across the board with different companies placing their estimate for FY22 demand growth at 8-10%YoY as private sector is expected to continue providing the support in...
- Shahrukh Saleem
Pakistan Technology_ IPO_Octopus Digital-subscribe till cap of PkR40.6...
AKD Daily Pakistan Technology_ IPO: Octopus Digital—subscribe till cap of PkR40.6 Octopus Digital is set to go public where it plans to raise an amount of PkR793mn by offering 27.4mn shares at a floor price of PkR29/sh. Octopus Digital Ltd. is a wholly owned subsidiary of Avanceon Ltd.. Company plans to develop 29 independent intellectual properties under different categories from which company will be providing two main offerings, Topware and Omni Connect. Pakistan is going through an incr...
- Shahrukh Saleem
Pakistan cement_Local cement sales increase by 37%YoY for Aug'21, (AKD...
AKD Dail Pakistan cement: Local cement sales increase by 37%YoY for Aug’21 Local cement dispatches for the month of Aug’21 clocked in 3.8mn tons, up 37/11%YoY/MoM where low base effect played its part as COVID-19 related restrictions kept the base low for Aug’20 while for Jul’21, low number of working days due to Eid holidays played a part. Overall, for 8MCY21, local dispatches have increased by 21%YoY to 32mn tons while exports have increased by 8%YoY taking total dispatches for 8MCY21 to...
- Shahrukh Saleem
Pakistan OMCs_volumes increase by 26%YoY for Aug'21, (AKD Daily, Sep 0...
AKD Dail Pakistan OMCs: volumes increase by 26%YoY for Aug’21 OMC sales clocked in at 1.96mn tons, up 26%YoY majorly on the back of low base while on MoM basis, a meagre improvement of 1%MoM was witnessed despite lower number of working days in the month. Overall, OMC volumes have increased by 25%YoY to 13.6mn tons for 8MCY21 where again furnace oil led the increase, growing by 72%YoY while ex. Furnace oil, sales increased by 19%YoY largely on the back of low base. MS/HSD witnessed an incr...
- Shahrukh Saleem
Pakistan Technology_Booming Startup funding - a good omen for listed T...
AKD Daily Technology: Booming Startup funding — a good omen for listed Tech space A Pakistan based startup, Airlift, has recently secured a Series B funding of US$85mn at a valuation of US$275mn, taking the total amount raised by the company to US$109.2mn while total funding raised by Pakistan based startups in CY21TD now stands at US$165mn. The same can potentially result in re-rating of multiples for the listed Tech space where investors have only recently realized the potential of the T...
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