Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  KARACHI STOCK EXCHANGE (GUARANTEE) LIMITED, THE  >  Pakistan State Oil Company Limited    PSO   PK0022501016

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 
The feature you requested does not exist. However, we suggest the following feature:

Pakistan State Oil : IGI Securities Limited - Day Break

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/28/2016 | 04:45pm CEST

April 27, 2016 (PPI-OT)

PSO and HASCOL: Lower Inventory Loss and Healthy Volumes to Drive Earnings

Pakistan State Oil's (PSO) board meeting is scheduled on 29th Apr-16 where IGI Securities Limited expects the company to post earnings of PKR 2.4bn (EPS PKR 8.71) in 3QFY16 as compared to a loss of PKR 1.0bn (EPS PKR 3.83) in the same period last year.

Hascol Petroleum Limited's (HASCOL) board meeting is scheduled on 28th Apr-16 to announce 3QFY16 financial result. IGI Securities Limited anticipates company's earnings to depict +1.4xYoY rise to PKR 317mn (EPS PKR 2.63) in 1QCY16 as compared to PKR 274mn (EPS PKR 2.27) in the same period last year.

IGI Securities Limited's top pick in the sector remains PSO with Dec-16 TP of PKR 454/share, offering +25% upside from its last close. The company is currently trading at P/E of 7.42x, offering a dividend yield of 3.9%.

PSO - Earnings to Clock in at PKR 8.71/share for 3QFY16

Pakistan State Oil's (PSO) board meeting is scheduled on 29 th Apr-16 where IGI Securities Limited expects the company to post earnings of PKR 2.4bn (EPS PKR 8.71) in 3QFY16 as compared to a loss of PKR 1.0bn (EPS PKR 3.83) in the same period last year. Despite 36%YoY reduction in profit contribution due to 42%YoY decline in FO prices, profit improved on the back of +2%YoYgrowth in overall volumes, led by +11%YoY increase in FO volumes. IGI Securities Limited expects the company to post an inventory loss of PKR 0.9bn during 3QFY16. Profitability for 9MFY16 is expected to rise by +1.8xYoY to PKR 9.0bn (EPS PKR 33.50).

HASCOL - EPS PKR 2.63 up by +16%YoY in 1QCY16

Hascol Petroleum Limited's (HASCOL) board meeting is scheduled on 28 th Apr-16 to announce 3QFY16 financial result.

IGI Securities Limited anticipates company's earnings to depict +1.4xYoY rise to PKR 317mn (EPS PKR 2.63) in 1QCY16 as compared to PKR 274mn (EPS PKR 2.27) in the same period last year, owing to +22%YoY rise in overall volumes led by +106%YoY and +87%YoY growth in MS and HSD sales, respectively while FO volumes plunged by 33%YoY.

Outlook

IGI Securities Limited maintains over-weight stance on OMCs on the back of a) healthy demand for MS owing to lower prices, b) government's 3-yr plan to reduce the quantum of circular debt to improve sector liquidity, c) HSD volumes to remain upbeat as commercial transportation gains further momentum and, d) minimum inventory losses during 2HFY16. On the downside, any drop in FO prices would lead to lower FO contribution in the overall profitability, but IGI Securities Limited expects better volumes to mitigate this risk to a certain extent, due to cheaper cost of power production on FO as compared to gas.

Recommendation

IGI Securities Limited's top pick in the sector remains PSO with Dec-16 TP of PKR 454/share, offering +25% upside from its last close. The company is currently trading at P/E of 7.42x, offering a dividend yield of 3.9%.

© Pakistan Press International, source Asianet-Pakistan

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on PAKISTAN STATE OIL COMPANY
04/28 PAKISTAN STATE OIL : IGI Securities Limited - Day Break
04/28 PAKISTAN STATE OIL : Hundreds vehicles stuck up between National, Super Highways
04/27 PAKISTAN STATE OIL : IGI Securities Limited - Day Break
04/26 PAKISTAN STATE OIL : Na body for early clearance of pnsc dues from pso
04/25 PAKISTAN STATE OIL : Commerce ministry, FBR hurdle in diesel export to Tajikista..
04/24 PAKISTAN STATE OIL : NA panel on ports, shipping to meet Monday
04/23 PAKISTAN STATE OIL : Commerce ministry, FBR 'hurdle' in diesel export to Tajikis..
04/23 PAKISTAN STATE OIL : Board meeting of Pakistan State Oil Company Limited to be h..
04/23 PAKISTAN STATE OIL : Dispatch of interim dividend warrants of Pakistan State Oil..
04/21 PAKISTAN STATE OIL : PSO refutes allegations by APCNGA
Advertisement
Income Statement Evolution
More Financials