Earnings Report /
Pakistan

International Steels Ltd: 1QFY22 review – Higher-than-expected revenues led to earnings beat

  • ISL’s 1QFY22 is much higher than our expectation thanks to higher sales, and lower opex and finance costs

  • Net revenue clocked in at PKR24.5bn, up 30% qoq, amid higher CRC/HDGC prices and higher volumes due to demand from autos

  • We reiterate our Buy rating on the scrip with a June 2022 TP of PKR130/sh

Abdul Ghani Mianoor
Intermarket Securities
26 October 2021