National Refinery Ltd
National Refinery Ltd operates in Oil & Gas Exploration & Production.
National Refinery Ltd (NRL) - Net Assets
Latest net assets as of March 2024: PKRs27.08 Billion PKR
Based on the latest financial reports, National Refinery Ltd (NRL) has net assets worth PKRs27.08 Billion PKR as of March 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (PKRs119.19 Billion) and total liabilities (PKRs92.11 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | PKRs27.08 Billion |
| % of Total Assets | 22.72% |
| Annual Growth Rate | -0.89% |
| 5-Year Change | 2.14% |
| 10-Year Change | N/A |
| Growth Volatility | 16.08 |
National Refinery Ltd - Net Assets Trend (2016–2023)
This chart illustrates how National Refinery Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for National Refinery Ltd (2016–2023)
The table below shows the annual net assets of National Refinery Ltd from 2016 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-06-30 | PKRs34.60 Billion | -13.11% |
| 2022-06-30 | PKRs39.82 Billion | +26.06% |
| 2021-06-30 | PKRs31.59 Billion | +5.87% |
| 2020-06-30 | PKRs29.84 Billion | -11.92% |
| 2019-06-30 | PKRs33.87 Billion | -21.68% |
| 2018-06-30 | PKRs43.25 Billion | -0.20% |
| 2017-06-30 | PKRs43.34 Billion | +17.70% |
| 2016-06-30 | PKRs36.82 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to National Refinery Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 782271500000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (June 2023)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | PKRs42.42 Billion | 122.61% |
| Total Equity | PKRs34.60 Billion | 100.00% |
National Refinery Ltd Competitors by Market Cap
The table below lists competitors of National Refinery Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
BDLL3F
SA:BDLL3F
|
$10.84K |
|
Yotta Acquisition Corporation Warrant
NASDAQ:YOTAW
|
$10.84K |
|
SEFALANA HOLDINGS COMPANY LIMITED
XBOT:SEF-EQO
|
$10.86K |
|
FUEL TECH (FUE1.SG)
STU:FUE1
|
$10.87K |
|
Al-Ghazi Tractors Ltd
KAR:AGTL
|
$10.82K |
|
ORVANA MINERALS (O6M.SG)
STU:O6M
|
$10.82K |
|
Flight International Co., Ltd.
TWO:6798
|
$10.81K |
|
REALTECH (RTC.SG)
STU:RTC
|
$10.81K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in National Refinery Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 39,819,358,000 to 34,598,679,000, a change of -5,220,679,000 (-13.1%).
- Net loss of 4,463,086,000 reduced equity.
- Dividend payments of 1,192,434,000 reduced retained earnings.
- Other factors increased equity by 434,841,000.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | PKRs-4.46 Billion | -12.9% |
| Dividends Paid | PKRs1.19 Billion | -3.45% |
| Other Changes | PKRs434.84 Million | +1.26% |
| Total Change | PKRs- | -13.11% |
Book Value vs Market Value Analysis
This analysis compares National Refinery Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.77x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.61x to 0.77x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-06-30 | PKRs541.98 | PKRs331.03 | x |
| 2018-06-30 | PKRs540.87 | PKRs331.03 | x |
| 2019-06-30 | PKRs423.60 | PKRs331.03 | x |
| 2020-06-30 | PKRs373.12 | PKRs331.03 | x |
| 2021-06-30 | PKRs395.01 | PKRs331.03 | x |
| 2022-06-30 | PKRs497.95 | PKRs331.03 | x |
| 2023-06-30 | PKRs432.66 | PKRs331.03 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently National Refinery Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -12.90%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -1.49%
- • Asset Turnover: 2.67x
- • Equity Multiplier: 3.23x
- Recent ROE (-12.90%) is below the historical average (2.47%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 20.88% | 8.20% | 1.75x | 1.46x | PKRs4.01 Billion |
| 2017 | 18.56% | 7.49% | 1.75x | 1.42x | PKRs3.71 Billion |
| 2018 | 4.09% | 1.29% | 2.08x | 1.52x | PKRs-2.55 Billion |
| 2019 | -25.66% | -5.40% | 2.11x | 2.25x | PKRs-12.08 Billion |
| 2020 | -13.62% | -3.24% | 1.98x | 2.12x | PKRs-7.05 Billion |
| 2021 | 5.60% | 1.27% | 1.84x | 2.40x | PKRs-1.39 Billion |
| 2022 | 22.80% | 3.60% | 2.45x | 2.58x | PKRs5.10 Billion |
| 2023 | -12.90% | -1.49% | 2.67x | 3.23x | PKRs-7.92 Billion |
Industry Comparison
This section compares National Refinery Ltd's net assets metrics with peer companies in the Oil & Gas industry.
Industry Context
- Industry: Oil & Gas
- Average net assets among peers: $102,759,209,167
- Average return on equity (ROE) among peers: 19.70%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| National Refinery Ltd (NRL) | PKRs27.08 Billion | 20.88% | 3.40x | $10.82K |
| Attock Refinery Ltd (ATRL) | $48.90 Billion | -9.58% | 1.11x | $26.08K |
| Hascol Petroleum Ltd (HASCOL) | $6.57 Billion | 18.40% | 5.87x | $619.73 |
| Mari Petroleum Company Ltd (MARI) | $25.54 Billion | 35.78% | 2.66x | $19.63K |
| Oil and Gas Development Co Ltd (OGDC) | $478.63 Billion | 12.53% | 0.23x | $9.39K |
| Pakistan Oilfields Ltd (POL) | $41.60 Billion | 31.91% | 1.05x | $21.30K |
| Shell Pakistan Ltd (SHEL) | $15.32 Billion | 29.15% | 4.54x | $6.13K |