Pakistan Aluminium Beverage Cans Limited (PABC): Seasonal demand to boost 2QCY24E earnings – By JS Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We expect Pak Aluminium Beverage Cans Ltd (PABC) to report 32% QoQ jump in earnings during 2QCY24 to Rs3.31/sh. We expect seasonal pick-up in local sales and improved Afghan exports to support sequential growth in the bottomline.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">This is expected despite international aluminium prices witnessing a 14% QoQ jump in average prices for 2QCY24 as PABC holds pricing power and follows a cost-plus pricing mechanism. Alongside result, we expect PABC to announce interim cash dividend of Rs3/share.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We reiterate our Hold rating for PABC, offering limited upside to ou...