Corporate Briefing session of Sui Northern Gas Pipelines Limited (SNGPL) was held at Lahore Stock Exchange Plaza, Lahore on Tuesday.
Managing Director SNGPL Mr. Amer Tufail briefed the analysts, investors and shareholders about the Company’s performance and its future prospects.
While addressing the event, Management of the company briefed the participants that the Company has achieved a milestone of revenue exceeding Rs. 1.0 trillion first time in the history and further stated that the Company’s profitability has witnessed a reduction of 5.66% mainly due to reduction in change of ROA rate under WACC from 17.43% to 16.6% and imposition of super tax by the Federal Government. Moreover, the Management of the Company highlighted that the Company’s gas losses (UFG) has reduced from 8.60% in FY 2020-21 to 8.06% in FY 2021-22.
Highlighting the energy sector’s situation, Management of the Company informed that due to depleting indigenous gas resources, RLNG now has approx.
50% share in gas supplies which may continue to increase depending upon supply and demand situation in the Country.
The Management of the Company especially appreciated the efforts of the Government with the help of which it is expected that upto 100 MMCFD gas volumes will be added in the system by the end of this year.
MD SNGPL further briefed that amongst the new discoveries, gas from Wali well has already been added in the Company’s network while indigenous gas from Shewa well is likely to be injected at the end of the current year.
Sharing future outlook of the Company, the Company’s Management said that the Company is weighing in on transforming from “Natural Gas Utility” into “Energy Company”, over the period of next 5 years. Over a period of times, Company aims to Protect its Core by implementing various initiatives; Achieve Excellence in business operations; and Grow smarter and maintain its position in the energy sector by investing in right resources and pursuing new business opportunities.
Senior Management of the Company including Mr. Faisal Iqbal, CFO; Syed Jawad Naseem, SGM (BD); Mr. Qaisar Masood, SGM (Distribution); and Mr. Imtiaz Mehmood, Company Secretary were also present on the occasion. The session was attended in large numbers by the analysts, investors and shareholders in person and over Zoom who showed keen interest in the briefing conducted by the Company’s team led by the Managing Director Mr. Amer Tufail.
The briefing was followed by Question & Answer session in which all the queries were responded by the Managing Director and Senior Management in a very positive manner.
