Abdul Ghani Mianoor

Intermarket Securities

Investment Analyst @ Intermarket Securities

Abdul is a Research Analyst covering the Autos sector. He holds a BSc in Accounting and Finance from the University of London, graduating with First Class Honours. Abdul has passed Level 1 of the CFA program.

Abdul Ghani Mianoor
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Latest articles from Abdul Ghani Mianoor

Pakistan Textiles: December 2021 - Ending the year with stellar growth

Pakistan’s total exports in December 2021 clocked in at US$2.8bn, up a sharp c.20% yoy from US$2.4bn, sustaining the US$2bn level since June 2021 (though down c.5% mom). The robust growth is a testament to the strong demand for Pakistan’s textiles in...
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 18 January 2022

Pakistan Autos: Strong sales to sustain earnings growth, but risks ahead

Volumes surged c.55% yoy on account of robust demand and long lead times following incentives announced in the FY22 Budget. Despite the sharp rise in volumes, gross margins are likely to decline (though flat yoy) amid (i) rising cost pressures becaus...
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 17 January 2022

Pakistan Autos: Ending the year on a high note

In December 2021, Auto industry sales nearly doubled yoy to 27,000 units (up c.45% mom), ending CY21 on a strong note. Overall industry sales clocked in at c.237,000 units in CY21, up a staggering c.90% yoy. CY21 volumes for PSMC clocked in at c.122,...
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 11 January 2022

Mughal Iron & Steel Industries: Diversifying further in the non-ferrous segment

Mughal Iron & Steel Industries Ltd (MUGHAL PA) recently announced plans on further diversifying operations in the Non-ferrous segment, including enhancement of Copper capacity, while also venturing into the Aluminum segment (hinted at by the manageme...
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 10 January 2022

Pakistan Tractors: Upgrade estimates upon clarity on GST; Buy

We upgrade our stance on both Tractor stocks from Neutral to Buy, upon certainty that the government will maintain GST on tractors at 5%. Our liking for both companies stems from their benign dividend payout and high ROEs (avg. The removal of the unc...
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 4 January 2022

Pakistan Mini Budget – inflationary but should help contain twin deficits

After a few delays, the government finally presented the Mini Budget in the Parliament, the approval of which will fulfill one of the two IMF pre-conditions for resumption of the EFF Program (the other condition being amendments in the SBP Act for gr...
Intermarket Securities Saad
Saad Ali @ Intermarket Securities 31 December 2021

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