Karachi, Hi-Tech Lubricants Limited informed Pakistan Stock Exchange that VIS Credit Rating Company Limited (VIS) has maintained the entity ratings of the Company at “A” for Long Term and “A-2” for Short Term, whereas outlook on the assigned rating has been revised from ‘Positive’ to ‘Stable’.
“Hi-Tech Lubricants Limited was incorporated in Pakistan on 1984. The Principal Activity of the Company is to procure and distribute petroleum products. During 2017, Oil and Gas Regulatory Authority (OGRA) has granted license to establish an Oil Marketing Company (OMC), subject to some conditions.
On 31 May 2019, Oil and Gas Regulatory Authority (OGRA) has granted permission to the Company to operate new storage facility at Sahiwal and marketing of petroleum products in province of Punjab.
The total numbers of shares are 116,004,000. The Earnings per share is (0.35) in 2020 which was (3.75) in 2019. The Company had a loss of Rs. 40,118,000 in 2020 which was 434,817,000 in 2019.”