Earnings Report /
Pakistan

Pakistan Steel: 4Q21 preview – Profitability to rise despite weaker volumes qoq

  • We expect our IMS Steel Universe to post a NPAT of PKR4.2bn, up 6% qoq amid a rise in finished steel prices

  • Record high global commodity prices (Scrap, HRC, Copper) have boosted prices for finished products in the local market

  • We have an Overweight stance on the sector, where we prefer MUGHAL (TP of PKR142/sh) and ISL (TP of PKR130/sh)

Abdul Ghani Mianoor
Intermarket Securities
2 August 2021