RE-COMPOSITION OF KSE-MEEZAN 30 INDEX (KMI-30)

In a bourse filing today, the Pakistan Stock Exchange Limited has carried-out the exercise of re- composition of KSE-Meezan 30 Index for the review period from July 01, 2019 to December 31, 2019.

The re-composition has been carried out on the basis of the criteria of selection of companies as detailed in the Brochure of KSE-Meezan 30 Index. As a result, 5 companies would be affected due to re composition process:

5pt; border-left: solid black 0.5pt; border-bottom: solid black 0.5pt; border-right: solid black 0.5pt">


Sr.no.
 

Incoming Companies 

Outgoing Companies 

Exclusion Reason 

1 

Cherat Cement Company Ltd 

The Hub Power Company Ltd 

Non-Compliant* 

2 

Indus Motor Company Ltd 

Pak Suzuki Motor Company Ltd 

Non-Compliant* 

3 

Systems Limited 

Dawood Hercules Corporation Ltd

Non-Compliant* 

4 

National Refinery Ltd 

Sui Southern Gas Co Ltd 

Ranks 31** 

5 

Hascol Petroleum Ltd 

Frieslandcampins Engro Foods Ltd 

Ranks 40** 

* Shariah Non-Compliant
** Does not fall in list of top 30 Shariah Compliant stocks

The recomposed index will be implemented w.e.f. Monday, 13th July, 2020, list of companies included in the recomposed Index and the list of sharia screen companies also shared below :

 

S. No. 

Symbol 

KMI-30 Index Companies

1 

ENGRO 

Engro Corporation Ltd 

2 

OGDC 

Oil & Gas Development Co. Ltd 

3 

LUCK 

Lucky Cement Ltd 

4 

PPL 

Pakistan Petroleum Ltd 

5 

EFERT 

Engro Fertilizers Ltd 

6 

POL 

Pakistan Oilfields Ltd 

7 

PSO 

Pakistan State Oil Co. Ltd 

8 

MARI 

Mari Petroleum Co. Ltd 

9 

MEBL 

Meezan Bank Ltd 

10 

SEARL 

The Searle Company Ltd

11 

DGKC 

D.G. Khan Cement Co. Ltd 

12 

MTL 

Millat Tractors Ltd 

13 

FCCL 

Fauji Cement Co. Ltd 

14 

SNGP 

Sui Northern Gas Pipelines Ltd 

15 

MLCF 

Maple Leaf Cement Factory 

16 

INDU 

Indus Motor Company Ltd 

17 

NML 

Nishat Mills Ltd 

18 

SYS 

Systems Limited

19 

KEL 

K-Electric Ltd 

20 

EPCL 

Engro Polymer & Chemicals 

21 

HASCOL 

Hascol Petroleum Ltd 

22 

CHCC 

Cherat Cement Co. Ltd 

23 

ISL 

International Steels Ltd 

24 

PAEL 

Pak Elektron Ltd 

25 

HCAR 

Honda Atlas Cars (Pakistan) Ltd 

26 

LOTCHEM 

Lotte Chemical Pakistan Ltd

27 

ATRL 

Attock Refinery Ltd 

28 

UNITY 

Unity Foods Ltd 

29 

NRL 

National Refinery Ltd 

30 

NETSOL 

NetSol Technologies Ltd 

 

 

FINAL LIST OF COMPANIES FOR KMI-30 INDEX RECOMPOSITION DECEMBER 2019

S. #

Symbol 

Company 

Status 

Charity Rate 

1

AABS 

Al-Abbas Sugar Mills Ltd 

Compliant1

0.66% 

2

ABOT 

Abbott Lab (Pakistan) Ltd 

Compliant 

0.84% 

3

ACPL 

Attock Cement Pakistan Ltd 

Compliant 

0.05%* 

4

AGIL 

Agriauto Industries Ltd 

Compliant 

0.50%* 

5

AGP 

AGP Limited 

Compliant 

0.09% 

6

AGSML 

Abdullah Shah Ghazi Sugar Mills

Compliant1

0.00% 

7

AKZO 

Akzo Nobel Pakistan 

Compliant 

1.50% 

8

APL 

Attock Petroleum Ltd 

Compliant 

0.81%* 

9

ARPL 

Archroma Pakistan Ltd 

Compliant1

0.00% 

10

ASC 

Al Shaheer Corporation Ltd 

Compliant 

0.00%* 

11

ASTM 

Asim Textile Mills Ltd 

Compliant

1.05%* 

12

ATBA 

Atlas Battery Ltd 

Compliant 

0.00%* 

13

PREMA 

At-Tahur Limited 

Compliant 

0.00%* 

14

ATRL 

Attock Refinery Ltd 

Compliant 

1.29%* 

15

BATA 

Bata (Pakistan) Ltd 

Compliant 

0.08% 

16

BCL 

Bolan Castings Ltd 

Compliant 

0.02%* 

17

BGL 

Balochistan Glass Ltd

Compliant 

0.09%* 

18

BIFO 

Biafo Industries Ltd 

Compliant 

1.08%* 

19

BIPL 

BankIslami Pakistan Ltd. 

Compliant 

0.00% 

20

BWCL 

Bestway Cement Ltd 

Compliant 

2.37%* 

21

BYCO 

Byco Petroleum Pakistan Ltd 

Compliant 

0.42%* 

22

CHCC 

Cherat Cement Co. Ltd 

Compliant

0.01%* 

23

CLOV 

Clover Pakistan Ltd 

Compliant 

4.44%* 

24

CSAP 

Crescent Steel & Allied Products 

Compliant 

0.01%* 

25

DCL 

Dewan Cement Ltd 

Compliant 

0.19%* 

26

DCR 

Dolmen City REIT 

Compliant 

0.00%* 

27

DFSM 

Dewan Farooq Spinning Mills Ltd 

Compliant 

0.00%*

28

DGKC 

D.G. Khan Cement Co. Ltd 

Compliant 

3.11%* 

29

DSIL 

DS Industries Ltd 

Compliant 

0.01%* 

30

EFERT 

Engro Fertilizers Ltd 

Compliant 

1.34% 

 

31 

 

FCEPL 

Frieslandcampins Engro Foods Limited (Engro Foods Ltd.) 

 

Compliant 

 

0.02% 

32

ENGRO 

Engro Corporation Ltd

Compliant 

4.72% 

33

EPCL 

Engro Polymer & Chemicals 

Compliant 

1.88% 

34

EXIDE 

Exide Pakistan Ltd 

Compliant1

0.01%* 

35

FATIMA 

Fatima Fertilizer Co. Ltd 

Compliant 

1.15% 

36 

FCCL 

Fauji Cement Co. Ltd 

Compliant 

0.17%* 

37 

FECM 

First Elite Capital Modaraba ^

Compliant 

0.08%* 

38 

FECTC 

Fecto Cement Ltd 

Compliant 

0.64%* 

39 

FEROZ 

Ferozsons Laboratories Ltd 

Compliant 

0.05%* 

40 

FLYNG 

Flying Cement Co. Ltd 

Compliant 

0.00%* 

41 

FML 

Feroze1888 Mills Ltd 

Compliant 

0.24%* 

42 

GAIL 

Ghani Automobile Industries Ltd

Compliant 

0.14%* 

43 

GGGL 

Ghani Global Glass Ltd 

Compliant 

0.05%* 

44 

GGL 

Ghani Global Holdings Limited 

Compliant 

0.05%* 

45 

GHGL 

Ghani Glass Ltd 

Compliant 

0.00%* 

46 

GHNI 

Ghandhara Industries Ltd 

Compliant 

0.01%* 

47 

GHNL 

Ghandhara Nissan Ltd 

Compliant

0.76%* 

48 

GLAXO 

GlaxoSmithKline Pakistan 

Compliant 

0.41% 

49 

GSKCH 

Glaxo SmithKline Consumer Healthcare 

Compliant 

0.16% 

50 

GVGL 

Ghani Value Glass Ltd 

Compliant 

0.11%* 

51 

GWLC 

Gharibwal Cement Ltd 

Compliant 

0.73%* 

52 

HABSM 

Habib Sugar Mills Ltd 

Compliant1

2.06% 

53 

HASCOL 

Hascol Petroleum Ltd 

Compliant3

0.15%* 

54 

HCAR 

Honda Atlas Cars (Pakistan) Ltd 

Compliant1

0.54%* 

55 

HINOON 

Highnoon Laboratories Ltd 

Compliant 

0.56% 

56 

HSM 

Husein Sugar Mills Ltd 

Compliant1

0.00% 

57 

HTL 

Hi-Tech Lubricants Ltd 

Compliant

2.48%* 

58 

IBLHL 

IBL HealthCare Ltd 

Compliant 

1.02%* 

59 

ICI 

ICI Pakistan Ltd 

Compliant 

0.06%* 

60 

ICL 

Ittehad Chemicals Ltd 

Compliant 

0.00%* 

61 

ILP 

Interloop Limited 

Compliant 

0.31% 

62 

INDU 

Indus Motor Company Ltd 

Compliant 

2.10%* 

63 

ISL 

International Steels Ltd

Compliant 

0.01%* 

64 

ITTEFAQ 

Ittefaq Iron Industries 

Compliant 

0.19%* 

65 

KEL 

K-Electric Ltd 

Compliant3

0.78% 

66 

KOHC 

Kohat Cement Co. Ltd 

Compliant 

0.07%* 

67 

KTML 

Kohinoor Textile Mills Ltd 

Compliant 

0.55%* 

68 

LOTCHEM 

Lotte Chemical Pakistan Ltd

Compliant 

1.73% 

69 

LUCK 

Lucky Cement Ltd 

Compliant 

2.59%* 

70 

LPL 

Lalpir Power Ltd*** 

   

71 

MARI 

Mari Petroleum Co. Ltd 

Compliant 

3.13%* 

72 

MEBL 

Meezan Bank Ltd 

Compliant 

0.00% 

73 

MLCF 

Maple Leaf Cement Factory 

Compliant 

0.19%* 

74 

MTL 

Millat Tractors Ltd

Compliant 

0.11%* 

75 

NATF 

National Foods Ltd 

Compliant 

0.00%* 

76 

NETSOL 

NetSol Technologies Ltd 

Compliant 

0.34%* 

77 

NML 

Nishat Mills Ltd 

Compliant 

1.59%* 

78 

NCPL 

Nishat Chunian Power Ltd*** 

   

79 

NRL 

National Refinery Ltd 

Compliant 

0.09%* 

80 

OGDC 

Oil & Gas Development Co. Ltd*** 

Compliant 

7.73% 

81 

PAEL 

Pak Elektron Ltd 

Compliant 

0.04% 

82 

PAKOXY 

Pakistan Oxygen Limited 

Compliant 

0.01% 

 

83 

 

PICT 

Pakistan International Container Terminal 

 

Compliant 

 

0.91% 

84 

PKGS 

Packages Limited 

Compliant

0.97% 

85 

PNSC 

Pakistan National Shipping Corporation 

Compliant 

1.67%* 

86 

POWER 

Power Cement Ltd 

Compliant 

0.43%* 

87 

POL 

Pakistan Oilfields Ltd***** 

Compliant 

4.09% 

88 

PPL 

Pakistan Petroleum Limited 

Compliant 

1.59%* 

89 

PSO 

Pakistan State Oil Co. Ltd 

Compliant 

0.90%* 

90 

PTC 

Pakistan Telecommunication (PTCL) 

Compliant 

1.46% 

91 

QUICE 

Quice Food Industries Ltd 

Compliant3

1.10%* 

92 

REDCO 

Redco Textiles Ltd 

Compliant 

0.04%* 

93 

RPL 

Roshan Packages Ltd 

Compliant 

2.27%* 

94 

SAZEW 

Sazgar Engineering Works 

Compliant

0.00%* 

95 

SEARL 

The Searle Company Ltd 

Compliant 

0.21%* 

96 

SPWL 

Saif Power Ltd*** 

   

97 

SEPL 

Security Papers Ltd 

Compliant 

4.53%* 

98 

SHEL 

Shell (Pakistan) Ltd 

Compliant 

0.01% 

99 

SHSML 

Shahmurad Sugar Mills Ltd* 

Compliant1

0.02% 

100 

SKRS 

Sakrand Sugar Mills Ltd

Compliant1

0.01% 

101 

SNGP 

Sui Northern Gas Pipelines Ltd 

Compliant3

1.25%* 

102 

SPEL 

Synthetic Products Ltd 

Compliant 

0.00%* 

103 

SPL 

Sitara Peroxide Ltd 

Compliant 

0.02%* 

104 

SSGC 

Sui Southern Gas Co. Ltd 

Compliant3

2.30% 

105 

STCL 

Shabbir Tiles & Ceramics Ltd

Compliant 

0.07%* 

106 

STPL 

Siddiqsons Tin Plate Ltd 

Compliant 

4.27%* 

107 

SYS 

Systems Limited 

Compliant 

3.53% 

108 

THCCL 

Thatta Cement Company 

Compliant 

0.82%* 

109 

TREET 

Treet Corporation Ltd 

Compliant 

0.11%* 

110 

TRPOL 

Tri-Star Polyester Ltd

Compliant 

0.00%* 

111 

UNITY 

Unity Foods Ltd 

Compliant 

0.02%* 

112 

WAVES 

WAVES Singer Pakistan Ltd 

Compliant 

1.59% 

113 

WTL 

WorldCall Telecom Ltd 

Compliant3

0.25%* 

114 

ADAMS 

Adam Sugar Mills Ltd 

Compliant1

0.04% 

115 

BRR 

B.R.R. Guardian Modaraba ^

Compliant 

0.40%* 

116 

BUXL 

Buxly Paints Ltd 

Compliant 

0.07%* 

117 

COLG 

Colgate Palmolive (Pakistan) 

Compliant 

1.52%* 

118 

FHAM 

First Habib Modaraba 

Compliant 

0.00%* 

119 

FPJM 

First Punjab Modaraba ^ 

Compliant 

0.28%* 

120 

FUDLM 

First UDL Modaraba 

Compliant

0.00%* 

121 

JSML 

Jauharabad Sugar Mills Ltd. 

Compliant1

0.02% 

122 

JVDC 

Javedan Corporation Ltd 

Compliant 

0.18%* 

123 

LEUL 

Leather-Up Limited 

Compliant 

0.38%* 

124 

ORIXM 

Orix Modaraba 

Compliant 

0.00%* 

125 

PCAL 

Pakistan Cables Ltd 

Compliant 

0.01%* 

126 

SITC 

Sitara Chemical Industries Ltd 

Compliant 

0.00%* 

127 

AGL 

Agritech Limited 

Non-Compliant3

 

128 

AGTL 

Al-Ghazi Tractors Ltd 

Non-Compliant 

 

129 

AHCL 

Arif Habib Corporation Ltd 

Non-Compliant 

 

130 

ANL 

Azgard Nine Ltd 

Non-Compliant 

 

131 

ASL 

Aisha Steel Ltd

Non-Compliant 

 

132 

ASTL 

Amreli Steels Ltd 

Non-Compliant 

 

133 

AVN 

Avanceon Limited 

Non-Compliant 

 

134 

CEPB 

Century Paper & Board Mills 

Non-Compliant 

 

135 

CPPL 

Cherat Packaging Ltd 

Non-Compliant 

 

136 

CRTM 

Crescent Textile Mills Ltd 

Non-Compliant 

 

137 

CTM 

Colony Textile Mills Ltd 

Non-Compliant 

 

138 

CWSM 

Chakwal Spinning Mills Ltd 

Non-Compliant 

 

139 

DAWH 

Dawood Hercules Corporation 

Non-Compliant 

 

140 

DOL 

Descon Oxychem Ltd 

Non-Compliant 

 

141 

ECOP 

EcoPack Ltd 

Non-Compliant 

 

142 

EPQL 

Engropowergen Qadirpur***

   

143 

FFBL 

Fauji Fertilizer Bin Qasim Ltd 

Non-Compliant 

 

144 

FFC 

Fauji Fertilizer Company Ltd 

Non-Compliant 

 

145 

FFL 

Fauji Foods Ltd 

Non-Compliant 

 

146 

GATM 

Gul Ahmed Textile Mills Ltd 

Non-Compliant 

 

147 

GTYR 

General Tyre & Rubber Co. 

Non-Compliant

 

148 

HINO 

Hinopak Motors Ltd 

Non-Compliant1

 

149 

HUBC 

Hub Power Company Ltd** 

Non-Compliant 

 

150 

INIL 

International Industries Ltd 

Non-Compliant 

 

151 

KAPCO 

Kot Addu Power Company 

Non-Compliant 

 

152 

KOIL 

Kohinoor Industries Ltd 

Non-Compliant

 

153 

KOSM 

Kohinoor Spinning Mills Ltd 

Non-Compliant 

 

154 

LOADS 

Loads Limited 

Non-Compliant 

 

155 

MERIT 

Merit Packaging Ltd 

Non-Compliant 

 

156 

MFL 

Matco Foods Ltd 

Non-Compliant 

 

157 

MUGHAL 

Mughal Iron & Steel Industries 

Non-Compliant 

 

158 

NCL 

Nishat (Chunian) Ltd

Non-Compliant 

 

159 

NPL 

Nishat Power Limited*** 

   

160 

NRSL 

Nimir Resins Ltd 

Non-Compliant 

 

161 

PACE 

Pace (Pakistan) Ltd 

Non-Compliant 

 

 

162 

 

PIBTL 

Pakistan International Bulk Terminal Ltd 

 

Non-Compliant 

 

163 

PIOC 

Pioneer Cement Ltd 

Non-Compliant

 

164 

PKGP 

Pakgen Power Ltd 

Non-Compliant 

 

165 

PMI 

First Prudential Modaraba**** 

Non-Compliant 

 

166 

PRL 

Pakistan Refinery Ltd 

Non-Compliant 

 

167 

PSMC 

Pak Suzuki Motor Co. Ltd 

Non-Compliant 

 

168 

PSX 

Pakistan Stock Exchange Ltd. 

Non-Compliant 

 

169 

SERF 

Service Fabrics Ltd 

Non-Compliant 

 

170 

SRVI 

Service Industries Ltd 

Non-Compliant3

 

171 

TELE 

Telecard Limited 

Non-Compliant 

 

172 

TGL 

Tariq Glass Industries Ltd 

Non-Compliant 

 

173 

THALL 

Thal Limited 

Non-Compliant 

 

174 

TPL 

TPL Corporation 

Non-Compliant

 

175 

TRG 

TRG Pakistan Ltd 

Non-Compliant 

 

176 

TRIPF 

Tri-Pack Films Ltd 

Non-Compliant 

 

177 

TSPL 

Tri-Star Power Ltd. 

Non-Compliant 

 

178 

UBDL 

United Brands Limited 

Non-Compliant 

 

179 

WYETH 

Wyeth Pakistan Ltd 

Non-Compliant2

 

180 

YOUW 

Yousaf Weaving Mills Ltd

Non-Compliant 

 

181 

GADT 

Gadoon Textile Mills Ltd 

Non-Compliant 

 

182 

NESTLE 

Nestle Pakistan Ltd 

Non-Compliant 

 

183 

TPLP 

TPL Properties Ltd 

Non-Compliant 

 

 

184 

 

PIAA 

Pakistan International Airlines Corporation Limited (PIACL) 

 

Non-Compliant 

 

185 

MDTL 

Media Times Ltd 

NC by nature 

 

186 

HUMNL 

Hum Network Ltd 

NC by nature 

 

187 

AHL 

Arif Habib Ltd 

NC by nature 

 

188 

BOK 

Bank of Khyber 

NC by nature 

 

189 

ESBL 

Escorts Investment Bank Ltd 

NC by nature 

 

190 

FABL 

Faysal Bank Ltd. 

NC by nature 

 

191 

FCSC 

First Capital Securities Corp. Ltd 

NC by nature 

 

192 

FDIBL 

First Dawood Investment Bank Ltd 

NC by nature 

 

193 

ICIBL 

Invest Capital Investment Bank 

NC by nature 

 

194 

JSCL 

Jahangir Siddiqui & Co. Ltd 

NC by nature 

 

195 

PASL 

Pervez Ahmed Securities Ltd

NC by nature 

 

196 

CYAN 

Cyan Limited 

NC by nature 

 

197 

BIPLS 

BIPL Securities Limited 

NC by nature 

 

198 

FNEL 

First National Equities Ltd 

NC by nature 

 

199 

JSIL 

JS Investments Ltd 

NC by nature 

 

 

Charity rate means the investors of respective companies should purify dividend income using the following formula:

Dividend income received x charity rate NC=Non complaint

* These are provisional rates for dividend purification which are subject to final adjustment upon announcement of respective companies’ annual accounts for the year 2019/2020.

** Non Compliant Revenue earned by CPPA (GoP) and non compliant expensed paid to PSO (GoP) has been set off

*** Status is not ascertained due to non-disclosure of the required information as per last available financial statement i.e breakup of sales revenue including interest element.

**** Non-Compliant due to lower share price as at December 31, 2019 compared to Net Liquid Asset per share.

***** POL has reversed its revenue of 13.5 billion as conservative approach due to pending court judgement as mentioned in financial statements. It justifies that actual revenue of the POL exceeds by this amount.

Considering above information ratio on non compliant income to total income is less then 5%.

*****OGDC is facing circular debt issues. Company is bound to retain interest bearing TFC/Bonds having no permission to sell from government. Due to high interest rate during July-Dec 2019, non compliant income is high and exceeds 5%. Company had provided written confirmation that its non compliant income ratio will be less than 5% due to lower interest rates during July-Dec 2020.

^ Charity rate arises due to the income prorated from the Non Compliant Income of June-2019 / Income arising from investments in Non – Compliant scrips as at December 2019.

 

1 Based on September-2019 accounts
2 Based on November-2019 accounts
3 As per last available annual / half-yearly accounts

 

 

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