PNSC registers 108% growth in market value in 6MFY23

ISLAMABAD: The Pakistan National Shipping Corporation (PNSC) showed an extraordinary growth in the first six months (July to Dec) of the ongoing Fiscal Year 2023 with a rise of 108% in its market value, reports WealthPK.
Unfollowing the bearish market trend, which heavily impacted the individual economic sectors, the corporation’s market value increased from Rs6.4 billion to Rs13 billion by the half year end of FY23.
Pakistan National Shipping Corporation is listed in the transport sector on PSX and trades under the symbol of PNSC. With a market capitalisation of Rs14.4 billion, it is the third largest company in the transport sector.
Established in 1979, PNSC is mainly involved in the shipping of dry and liquid cargos in the international market. It is a parent company of 19 subsidiaries which are mostly private limited companies
In the first quarter of FY23, the PNSC earned 43% market value from Rs6.4 billion to Rs9.2 billion. It sustained MV growth in the second quarter of FY23 by reporting a rise of 45% from Rs9.2 billion to Rs13 billion.
In terms of profitability, the corporation earned hefty profits in 1QFY23. It made sales worth Rs14 billion, which was even more than the annual sales amount achieved in the last five fiscals except FY22.
The company earned net profits of worth Rs5.3 billion in 1QFY23 with a net profit ratio of 37.5% with handsome earnings per share value of Rs40.8.
The financials for the second quarter (Oct to Dec) of the FY23 are yet to be shared by the corporation. Pakistan National Shipping Corporation – FY18 to FY22:
The company remained in profit from FY18 to FY22. However, FY22 was the year of the highest sales of Rs23 billion. The corporation also earned the gross profit of Rs8 billion which was the highest in the last five years.
In the last five fiscal years, the corporation achieved the highest earnings per share value of Rs42.75 in FY22 which was the highest of the last five financial years.
However, the earnings per share, an average of the last five fiscal years, was reported to be Rs21.44 per share.
[22:52, 1/26/2023] DM Boss: Bauxite extraction to shore up industry, foreign reserves: WealthPK

ISLAMABAD, Jan 26 (INP) — Indigenous extraction and value addition of bauxite – the principal source of aluminium and gallium – can not only strengthen the industrial sector but also open a window of opportunities for Pakistan.
Talking to WealthPK, Yaqoob Shah, principal geologist at the Global Mining Company, Islamabad, member of the National Council for Marble & Granite and Minerals, and former general manager of geology at the Pakistan Mineral Development Corporation (PMDC), said, “Bauxite is a rock source formed in sedimentary rocks. It is the principal ore of alumina and has sizeable deposits in Khushab. Although the quarry is not well-developed at the government level, private companies or people are mining it. Its indigenous extraction and export after value addition can be a source of handsome foreign exchange for Pakistan, but the most important thing is to take a start with a proper framework.”
According to the World Integrated Trade Solutions’ data, Pakistan exported bauxite (aluminum ores and concentrates) worth US$448.77K and spent US$383.76 million on import of alumina and other articles in 2021.
Bauxite is the main raw material for extraction of alumina. Ninety percent of the total bauxite produced is consumed in the alumina industry. The market leaders in bauxite production include China, Australia, India, Brazil, and Guinea.
The global bauxite market size is expected to grow from US$15.60 billion in 2022 to US$18.15 billion by 2030 at a compound annual growth rate (CAGR) of 1.7%.
Bauxite is widely used in the construction industry, refractories, abrasive production, cement industry, metallurgical processing, steel and petroleum industry, as a raw material in the road and building aggregates, alumina extraction, aircraft manufacturing industry, etc.
As a good electricity conductor, bauxite is also used in the electrical equipment and electricity transmission.
Geologist and miner Imran Babar told WealthPK, “Bauxite is found in almost all provinces of Pakistan in different quantities, but the Khushab district of Sargodha, Punjab is its main source.”
It can be said that the bauxite found in this area is suitable for extraction of aluminium in great quantities.
‘’In my opinion, with a small-sized Bayer process plant and an annual feed of about 1.2 million tons to it, a good quantity of alumina can be extracted. Bauxite is a source of not only alumina but also red mud, which is recovered as a by-product in the Bayer process and used for many other important industrial purposes,” Imran said.