Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

Trending :

OMCs post highest ever monthly sales since Sep’18

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

December 3, 2020 (MLN): The overall sales of Oil and Marketing Companies (OMCs) for the month of November 2020 witnessed a growth of 21%YoY to 1.72 MTs as compared to 1.42 MTs in the same month of last year, bringing industry volumes for 5MFY21 to 8.16 MTs, up by 11% YoY.

 To note, the November’s sales figures are the highest ever monthly sales of pertoleum products since September 2018.

On a sequential basis, OMCs’ volumetric sales remained relatively flat, posting a meek rise of 1% MoM from 1.69 MTs.

The YoY growth in sales of OMCs is driven by High Speed Diesel (HSD) demand which improved by 29% YoY to 802 MTs. According to Topline Securities, the pickup in HSD volume is largely attributable to continued restrictions on the border due to COVID-19 which is restricting inflow of smuggled product and overall pick-up in economic activity following improvements in COVID-19 situation.

In addition to this, the sales of Motor Spirit (MS) and Furnace Oil (FO) also posted notable growth of 20% YoY and 18% YoY to 693 MTs and 170 MTs, respectively.

According to Fortune Research, MS continued to post impressive sales numbers for the 4th consecutive month and its current monthly sale is even higher than 5-year average MS monthly sales of 0.62 MTs. The growth was largely supported by impressive car and motorcycles sales during growth FY21TD, lower retail prices by approx. 12% against same period last year and lifting-off of lockdown restrictions resulting in resumption of inter-city travelling.

On monthly basis, growth in sales volume is linked to 20% MoM incline in HSD and 1% MoM jump in MS. On the other hand, FO volumes declined 41% MoM.

Cumulatively, during 5MFY21, industry volumes surged 11% YoY, accredited to surge in FO, HSD and MS sales which jumped by 31%, 13% and 8% YoY respectively.

Company- wise, BYCO posted the largest volumetric growth of 97% YoY in sales of petroleum products, driven by 7.3x YoY increase in FO sales. This was followed by 33% YoY rise in Shell’s volume and 15% YoY increase in PSO volumes. The strong consumption of HSD was the major contributor in increasing Shell’s and PSO’s sales volume.

With regards to market share, PSO grasped the biggest market share of 44%, down by 1ppts MoM, while BYCO’s market share improved by 2ppts MoM to 7%.

On the other hand, APL’s share dropped to 8% from 10% in the previous month. while SHEL and HASCOL maintained its market share at 8% and 5% in Nov’20 respectively.

Copyright Mettis Link News

Posted on: 2020-12-03T13:15:00+05:00

38382