External broker reports(aggregated public sources), Topline Securities

Topline Securities

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Energy / Thematic (Sector/Industry)

<ul><li>Pakistan's Oil Marketing Companies (OMCs) recorded sales of 1.5mn tons in Jul 2026, up 23% YoY and 20% MoM, highest YoY growth in last 15 months.</li><li>The YoY increase was mainly attributable to reduced fuel smuggling amidst improved border controls and improving economic activity.</li><li>We expect FY27 OMCs sales to grow in range of 8-10%.</li></ul>

Pakistan's Oil Marketing Companies (OMCs) recorded sales of 1.5mn tons in Jul 2026, up 23% YoY and 20% MoM, highest YoY growth in last 15 months.The YoY increase was mainly attributable to reduced fuel smuggling amidst improved border controls and improving economic activity.We expect FY27 OMCs sales to grow in range of 8-10%.

Pakistan Oil Marketing - OMC Sales Up 23% YoY and 20% MoM in Jul 2026; Ex-FO Up 18% YoY and MoM