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)

Equity Bottom-Up

<ul><li>The company announced its highest ever dividend in FY25, declaring Rs5/share for the quarter Rs15.05/share for the full year.</li><li>Management noted that gas curtailment from SNGPL driven by excess RLNG has resulted in an estimated revenue loss of Rs40-43bn during FY25.</li><li>Production from the Wali Block is expected to commence in 2 months with initial flows projected between 25-35 mmcfd of gas and 2500-3500 barrels of oil per day.</li></ul>

The company announced its highest ever dividend in FY25, declaring Rs5/share for the quarter Rs15.05/share for the full year.Management noted that gas curtailment from SNGPL driven by excess RLNG has resulted in an estimated revenue loss of Rs40-43bn during FY25.Production from the Wali Block is expected to commence in 2 months with initial flows projected between 25-35 mmcfd of gas and 2500-3500 barrels of oil per day.

Topline Flash Note: Oil & Gas Development (OGDC) - Corporate Briefing Key Takeaways