Rahul Hans

Rahul Hans
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Latest from Rahul Hans

Systems Ltd: NdcTech to develop synergies

Systems Ltd (SYS) in a recent notice on 10th June disclosed its interest to acquire 100% stake in NdcTech (a leading core and digital banking implementation service provider) under an investment outlay of PKR7.1bn. This is subject to BoD approval in ...
Intermarket Securities Rahul
Rahul Hans @ Intermarket Securities 22 June 2022

Pioneer Cement: 3QFY22 Review - Higher tax rate leads to earnings miss

Pioneer Cement Ltd (PIOC) has posted a NPAT of PKR485mn (EPS: PKR2.14) for 3QFY22, down 29% yoy and 27% qoq. The result has come in lower than our estimated NPAT of PKR567mn (EPS: PKR2.49). Higher-than-expected effective tax rate is the major deviati...
Intermarket Securities Rahul
Rahul Hans @ Intermarket Securities 6 May 2022

Avanceon Ltd: 1QCY22 review – Higher margins and exchange gains lead to earnings beat

Avanceon Ltd (AVN) has posted a consolidated NPAT of PKR360mn (fully diluted EPS: PKR1.11) for 1QCY22, up 47% yoy but down 62% qoq. The result beats our expected EPS of PKR1.01, higher GMs and other income. Most of AVN’s orders last about 12-15 month...
Intermarket Securities Rahul
Rahul Hans @ Intermarket Securities 6 May 2022

Systems Ltd: 1QCY22 review – higher revenues and exchange gains boost earnings; in line

Systems Ltd (SYS) has posted a consolidated NPAT of PKR1.2bn (EPS: PKR4.35), nearly doubling yoy, while down 34% qoq. Earnings have come broadly in line with our expected EPS of PKR4.12. Net sales have increased by 75% yoy and 12% qoq to PKR5.3bn, in...
Intermarket Securities Rahul
Rahul Hans @ Intermarket Securities 28 April 2022

Lucky Cement: 3QFY22 review – massive increase in other income leads to earnings beat

Lucky Cement (LUCK) has posted an unconsolidated NPAT of PKR5.5bn (EPS: PKR17.12) for 3QFY22, up 122% qoq but down 23% yoy. Higher earnings from LMCL, ICI and international cement businesses have majorly led to the deviation. Despite the decline in t...
Intermarket Securities Rahul
Rahul Hans @ Intermarket Securities 28 April 2022

Avanceon Ltd: 1QCY22 preview – earnings to rise on a yoy basis

Avanceon Ltd (AVN) is expected to post a consolidated NPAT of PKR327mn (EPS: PKR1.27) for 1QCY22, up 34% yoy but down 65% qoq. Net sales are expected to rise 37% yoy but will decline 50% qoq to PKR1.8bn. To note, the planning stage initially incurs m...
Intermarket Securities Rahul
Rahul Hans @ Intermarket Securities 28 April 2022

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