• OMC volumes for Mar’25 clocked in at 1.22mn tons, up 5%YoY/7%MoM.
• MS and HSD volumes increased by 1% Yoy/4%mom and 5% Yoy/14% MoM, respectively, led by recovering cross-country travel during the Eid holiday season.
• Volumetric sales for PSO during March ’25 stood at 510k tons, down 14% Yoy but recovering 8% sequentially.
• Market shares of PSO/APL/WAFI/CNERGY stood at 41.9%/8.6%/7.2%/4.2% during Mar’25, respectively.
• We maintain our growth projection of 5% % Yoy for sector sales during FY26E (compared to growth of 3% during 9MFY25), led by lower fuel prices and a recovery in commercial/industrial activity during the year.

Courtesy – AKD  Research