• PIOC is anticipated to declare a profit after tax of PKR 1,162mn (EPS: PKR 5.12) in 4QFY24, reflecting a decline of 3% QoQ.
• Furthermore, FY24 earnings are predicted to reach PKR 4,991mn (EPS: PKR 21.97), a 91% YoY increase from PKR 2,611mn (EPS: PKR 11.50) in FY23.

• During the quarter, sales are expected to reach PKR 8,487mn, indicating A decrease of 1%QoQ.

• We expect the gross margins to be around 33.50%, signalling an increase of 1.45ppt QoQ.

• We expect PIOC to pay a DPS of PKR5.0, as the company already announced a DPS of PKR5 in December ’23.

• Coal prices were USD107.50/ton in 4QFY24, compared to USD119.83/ton in 4QFY23 and $96.46/ton in 3QFY24, down 10.28% year over year and up 11.44% quarter over quarter.

• The discount rate was 20.50% in 4QFY24 compared to 22% in 4QFY23, down 1.5% YoY.

• Average retention price increase 1.16%QoQ and 11.41%YoY.
• Local dispatches were 534K MT in 4QFY24 as compare to 604K in 4QFY23 and 556K in 3QFY24, down 11.54%YoY and 3.92%QoQ

 Courtesy – AHCML Research