Saturday, December 3

PACRA Assigns Preliminary Ratings to K-Electric Limited – Islamic Commercial Paper-22 upto PKR 4,500 million

Lahore, October 04, 2021 (PPI-OT): The ratings reflect sustained performance metrics of the company. Amid COVID-19 Pandemic despite unfavourable circumstances the Company maintained stability in its turnover. During FY21, units sent out grew by 9.6%, owing to improved macroeconomic factors, along with investment of ~PKR81bln across the power value chain. With economic recovery, the Company’s performance took a notable upsurge in its performance, and reported a net profit of ~PKR 12bln in FY21, against a loss of ~PKR 3bln in FY20. Business risk profile draws support from growing demand for electricity and continuous improvement across various operational metrics.

The company continued to add to its asset base: expansion was noted in plants, distribution and transmission. The Company is pursuing its 900 MW RLNG project on fast-track basis. In addition to this additional supply of 450-600 MW from National Grid has also been achieved through successful completion of rehabilitation works at KDA-Jamshoro lines. The performance metrics in the on-going financial year has shown similar trends with more focus on the production and sale of power units. At the same time, upholding business and financial metrics is of utmost importance.

For more information, contact:
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425