PakStox Outlook

MARI (Q2-Dec 2024) reported a decline in financial performance for the quarter. Revenue decreased by 8% compared to the average of the last four quarters. PBT and PAT saw more significant declines, dropping by 44% and 42%, respectively. This was primarily due to higher operating and administrative expenses, which more than doubled compared to the same quarter last year. The tax rate for the quarter stood at 25%, slightly lower than the average of 28% over the previous four quarters. In Q2-Dec 2024, MARI's operating profit was Rs. 12.58 billion, reflecting a sharp decline of over 57% compared to Q2-Dec 2023. In this quarter MARI recorded a finance income of Rs. 2.3 billion, no finance expenses. See report for details. See Key Financials

Mari Petroleum Company Limited (PSX:MARI) - Annual Financial Results as of June 30, 2024 For the year ending June 2024, MARI earned a net income of Rs. 579.4 per share and declared a total cash dividend of Rs. 232 per share.

MARI earned Rs. 83.6  per share in the second quarter ending December 2022. The company also announced a cash dividend of Rs. 89 per share. EPS in second quarter was almost 12% down on Ist quarter, but increased 49% on the same quarter last Year. MARI boosted the cash dividend to Rs. 89 in Dec 22 compared to Rs. 62 per share in December 2021. Sales was down more than 8% compared to the Ist quarter. Exploration Cost in the 2nd quarter was substantially higher than first quarter this year. MARI: Mari Petroleum Co ttm Dec22 Sep22 Jun22 Mar22 Dec21 Q2 - 2023 Q1 - 2023 Q4 - 2022 Q3 - 2022 Q2 - 2022 EPS (Rs.) 303 83.56 95.31 42.01 81.63 56.00 Cash Dividend (Rs./share) 151 89 0 62 0 62 Net Income After Taxes (RsMill) 40,355 11,147 12,715 5,604 10,889 7,471 MARI's twelve-month trailing EPS is now Rs. 303 and a twelve-month trailing cash dividend is Rs. 151 per share, translating into a  PE of 4.94 and a dividend yield of 10.1%. At times the Company's production is hampered by rai...

MARI is trading at Rs. 1495 (as of market close Mar 10, 2023) down 15.86% in one year compared to 4.7% decline on KSE100 Index. MARI share price had reached a 52-week high of Rs. 1815. MARI is trading at a low earning multiple of 4.94  and price to book of 1.41. Its twelve months trailing yield is 10%. Share Price (Rs.) 1 Month 3 Month 1 Year 1,495.46 0.29% -10.47% -15.86% MARI Price Chart https://www.pakstox.com/2023/03/mari-brief-intro-background.html https://invst.ly/-iitc

Mari Petroleum Company Limited (PSX:MARI)  an integrated exploration and production company, currently managing and operating Pakistan’s largest gas reservoir at Mari Gas Field, Daharki, Sindh. MARI is the second largest gas producer in Pakistan and owns the second highest reserves base, and has a 23% market share. The Company’s net daily production is over 100,000 barrels of oil equivalent.   MARI is key to Urea production in Pakistan.  Around 90% urea production in the Country is based on MARI supplied gas. The Company also supplies gas for power generation and distribution companies. MARI has grown from the sale of natural gas from an inherited field, to the exploration, production, and sale of gas, oil and other petroleum products from a number of fields in all provinces of Pakistan. Previously MARI worked under a fixed return formula with a cap on distribution of distribution. That cap on distribution has been removed as per a new agreement with the Govt of...