Showing posts with label MARI. Show all posts
Showing posts with label MARI. Show all posts

Friday 9 August 2024

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.

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Sunday 12 March 2023

MARI: 2nd Quarter Earning Release - Dec 2022

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 CottmDec22Sep22Jun22Mar22Dec21
Q2 - 2023Q1 - 2023Q4 - 2022Q3 - 2022Q2 - 2022
EPS (Rs.)30383.5695.3142.0181.6356.00
Cash Dividend (Rs./share)15189062062
Net Income After Taxes (RsMill)40,35511,14712,7155,60410,8897,471

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 rains, floods, security situation, power sector low demand, or Urea manufacturers planned maintenance shut downs.


MARI: Mari Petroleum Coqoq%Dec22Sep22Jun22Mar22Dec21
Q2 - 2023Q1 - 2023Q4 - 2022Q3 - 2022Q2 - 2022
Net Sales-8.3%29,17731,82527,51725,19921,692
Gross Profit / Loss-15.1%17,47220,58840,50215,62313,945
Operating Profit / Loss-28.2%13,78919,20623,3939,3049,841
Financial Charges-1.8%4324402,915245244
Profit Before Taxation-12.9%16,82719,32512,58515,00311,481
Taxation-14.1%-5,680-6,610-6,982-4,114-4,010
Profit After Tax-12.3%11,14712,7155,60410,8897,471
EPS (Rs.)-12.3%83.5695.3142.0181.6356.00
Cash Dividend (Rs./share)89062062
GP Margin59.9%64.7%147.2%62.0%64.3%
Tax Rate-33.8%-34.2%-55.5%-27.4%-34.9%
Sales growth-8.3%15.7%9.2%16.2%
EBIT Growth-12.7%27.5%1.7%30.1%


MARI: Market Performance

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 Month3 Month1 Year
1,495.460.29%-10.47%-15.86%


MARI Price Chart

MARI: Brief Intro & Background

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 Pakistan in 2021.

In the Year 2022 MARI produced, 283,173 MMSCF Natural Gas, 458,509 barrels of Crude oil and 32.2 MT of LPG.

MARI is listed on Karachi Stock Exchange and trades under the PSX Ticker: MARI.
Currently MARI has a market cap of Rs. 200 billion, with 133 million common shares and a free float of 20%

Fauji Foundation own 40% of MARI while OGDC owns a 20% stake.
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