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 from Abdul Ghani Mianoor

Mughal Iron & Steel Industries: 1QFY23 Review - Earnings beat on GMs and other income

MUGHAL posted a profit of PKR872mn (EPS: PKR2.60) for 1QFY23, down 48% YoY and 5% QoQ. MUGHAL has posted gross margins of 14.8%, up 1ppt QoQ and down 4.8ppt YoY. MUGHAL has posted a decent result; mostly due to elevated ferrous gross margins.
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 28 October 2022

Gul Ahmed Textile Mills Ltd: 1QFY23 Review - Lower retail segment sales drag 1Q earnings

GATM reported consolidated EPS of PKR2.19 in 1QFY23, missing our EPS estimate of PKR4.81. GMs declined by 2.8ppt/2.7ppt YoY/QoQ to 17.7%, likely due to lower Retail segment contribution. We have a Jun’23 TP of PKR35/sh on GATM.
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 28 October 2022

Nishat Chunian: 1QFY23 Review - First loss in nine quarters

NCL reported unconsol. LPS of PKR0.54, for the first time in 9 quarters, worse than our estimated EPS of PKR3.45. GMs declined by 11.1ppt YoY/5.3ppt QoQ to 11.2%, likely due to moderating Spinning margins. We retain our Neutral stance on NCL with a T...
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 28 October 2022

Nishat Mills: 1QFY23 Result Review - Sharp improvement in margin led to significant beat

NML reported an unconsolidated EPS of PKR11.81 in 1QFY23, significantly beating our EPS estimate of PKR3.75. Gross margin remained flat YoY, but increased by a sharp 8ppt QoQ to 19.4%, owing to better Value-added margins. We have a Buy stance on NML....
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 27 October 2022

Pakistan Tractors: Headwinds to dampen growth; maintain Marketweight

We remain Marketweight on the Tractor sector despite headwinds in the form of margin attrition and sluggish demand. Remain Neutral on MTL (TP PKR740/sh) & continue to prefer MTL for its frequent payouts and better strategic positioning. We trim our T...
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 27 October 2022

Indus Motors: 1QFY23 Review - Earnings slump on record gross losses

INDU reported 1QFY23 EPS of PKR16.50, lower than our expectation of PKR18.45 owing to lower revenues and gross losses. Gross margin clocked in at -6.3%, vs. IMS estimate of 0.9%, largely owing to lower realization of phased price hikes. Despite the w...
Intermarket Securities Abdul Ghani
Abdul Ghani Mianoor @ Intermarket Securities 27 October 2022

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