Mari Petroleum Company Limited (MARI) is scheduled to announce its financial result of FY21 on 26th Aug’21, where we expect the company to post a profit after tax of PKR 30,839mn (EPS: PKR 231.17) in FY21 versus PKR 30,299mn (EPS: PKR 227.12) in FY20, up by 2% YoY. Alongside the result, the company is expected to announce a final cash dividend of PKR 54.00/share (PKR 120.00/share in FY21).

This growth is attributable to 17% and 8% YoY surge in oil and gas production, respectively. However, wellhead price of Mari Gas Field plummeted by 10% YoY. On a quarterly basis, 4QFY21’s bottom-line is forecasted to climb up by 6% YoY arriving at PKR 7,482mn (EPS: PKR 56.09) given jump in oil and gas production by 39% and 13% YoY, respectively.

The exploration cost is expected to decline by 66% YoY, settling at PKR 1,533mn in 4QFY21 amid absence of dry well during the quarter against Miraj-01 in SPLY.

Meanwhile, the company undertook seismic activities at Block-28 and Taung Block during 4QFY21. Alongside the result, the company is expected to announce a final cash dividend of PKR 54.00/share (PKR 120.00/share in FY21).

Courtesy – AHL Research