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>Pakistan State Oil (PSO) conducted its Corporate Briefing Session today where management discussed financial performance and future outlook of the company.</li><li>Liquid Oil Consumption in Pakistan has dropped from 13,005K tons in 9MFY23 to 11,485K tons in 9MFY24, a 11.7% fall. HSD volumes saw a decline of 249K tons and PMG volumes fell by 302K tons. HSD demand is being reduced by 3-4K tons everyday mainly due to lower demand by industries and smuggling.</li><li>Furnace Oil (FO) also saw a fall of 982K tons as its usage in electricity generation has been reduced significantly.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Pakistan State Oil (PSO) conducted its Corporate Briefing Session today where management discussed financial performance and future outlook of the company.Liquid Oil Consumption in Pakistan has dropped from 13,005K tons in 9MFY23 to 11,485K tons in 9MFY24, a 11.7% fall. HSD volumes saw a decline of 249K tons and PMG volumes fell by 302K tons. HSD demand is being reduced by 3-4K tons everyday mainly due to lower demand by industries and smuggling.Furnace Oil (FO) also saw a fall of 982K tons as its usage in electricity generation has been reduced significantly.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Topline Flash Note: Pakistan State Oil (PSO) - Corporate Briefing Key Takeaways