Sui Northern Gas Pipelines Limited
By PSX Investors Zone · Updated October 20, 2026
Sui Northern Gas Pipelines Limited (PSX: SNGP) is a Pakistani natural-gas utility responsible for purchasing, transmitting, distributing and supplying natural gas. Incorporated in 1963, the company operates a major gas network serving customers in northern and central Pakistan. In FY2025, SNGP reported sales of approximately Rs. 1.41 trillion, profit after tax of Rs. 14.59 billion and earnings per share of Rs. 23.01. Investors researching SNGP should examine its thin profit margins, receivables, regulatory environment, gas losses, quarterly earnings and current PSX compliance notices. Its Shariah screening status should be confirmed through the latest official PSX screening publication before being described as compliant. Source: https://dps.psx.com.pk/company/SNGP
Company Overview
Sui Northern Gas Pipelines Limited (SNGP) is a Pakistani public company incorporated on 17 June 1963. Its principal business is the purchase, transmission, distribution and supply of natural gas.
The company operates a large gas transmission and distribution network. Its financial performance is influenced by gas demand, regulated prices, gas purchase costs, distribution losses, customer collections and government energy policies.
Official sources:
Business Model
SNGP purchases natural gas and transports and distributes it through pipelines to consumers across its service territory. Its operations involve pipeline maintenance, gas measurement, network development and management of gas supply.
The company works within a regulated energy market. Tariff decisions, the cost of purchased gas, unaccounted-for-gas levels, receivables and recoveries can significantly affect its financial results.
Investors should assess the company's cash flows and balance sheet alongside its reported revenue. A large revenue figure does not necessarily mean that the business has high profit margins or strong cash collection.
Fundamental Analysis
The following figures are displayed in the PSX financial profile. Monetary values have been converted from thousands of Pakistani rupees into billions for readability.
| Financial Metric | FY2025 | FY2024 |
|---|---|---|
| Sales | Rs. 1,408.55bn | Rs. 1,532.91bn |
| Profit after tax | Rs. 14.59bn | Rs. 18.98bn |
| Earnings per share (EPS) | Rs. 23.01 | Rs. 29.92 |
| Gross profit margin | 5.71% | 2.90% |
| Net profit margin | 1.04% | 1.24% |
Source: PSX SNGP Financial Profile
SNGP's sales, profit after tax and EPS declined in FY2025 compared with FY2024. Its gross profit margin improved, but its net profit margin decreased. Investors should examine the annual report for explanations, including changes in the regulated return, operating costs, gas purchase costs, finance costs and receivables.
PSX notes that its standardized financial data may differ from figures in the company's original reports. Use the published annual report for detailed financial analysis and confirm whether the figures being compared are standalone or consolidated.
Latest Available FY2026 Quarterly Results
The PSX profile provides the following quarterly figures for FY2026:
| Financial Metric | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 |
|---|---|---|---|
| Sales | Rs. 318.60bn | Rs. 304.91bn | Rs. 274.69bn |
| Profit after tax | Rs. 3.45bn | Rs. 3.72bn | Rs. 2.93bn |
| EPS | Rs. 5.43 | Rs. 5.87 | Rs. 4.62 |
Source: PSX SNGP Quarterly Financials
These figures indicate that the company remained profitable in each of the three reported quarters, although sales and quarterly profit were lower in Q3 than in Q1. The results should be assessed against the corresponding prior-year quarters and the company's original quarterly reports.
Reporting caution: PSX lists an application dated 9 October 2026 seeking an extension for submission of the first-quarter accounts for the period ended 30 September 2026. Do not present the FY2026 Q1 figures above as the latest quarter for the new financial year. Check PSX for the eventual filing and any related notice.
Share Price and Valuation
The PSX quote snapshot available for 19 October 2026 showed:
| Market Metric | Value |
|---|---|
| Reference share price | Rs. 89.72 |
| P/E ratio (TTM) | 3.91 |
| 52-week high | Rs. 138.90 |
| 52-week low | Rs. 83.20 |
Source: PSX SNGP Quote
These figures are a dated snapshot, not a live quote. Refresh them before publishing.
The price-to-earnings ratio compares a share price with earnings per share. A low P/E ratio does not automatically mean a share is undervalued. Investors should consider earnings sustainability, regulatory risks, receivables, cash flow and the company's obligations in the gas supply chain.
Dividend Information
Check the latest dividend announcements and payout history on PSX before publishing a dividend amount or yield. Use a confirmed declared dividend and a clearly stated share-price date to calculate dividend yield.
Source: PSX SNGP Announcements and Payouts
Shariah Screening Status
Status: Verify before publishing.
Do not label SNGP Shariah-compliant based only on its core business or a previous screening result. Confirm its status in the latest official PSX-KMI All Share Index constituent list or the relevant Shariah screening notice. State the screening date and applicable methodology.
Official references:
PSX has announced revisions to its Shariah screening criteria. Therefore, historical inclusion in an index or a previous compliant result should not be treated as permanent confirmation.
Important PSX Risk Warning Alert
The official PSX profile displays a Risk Warning Alert stating that SNGP is in continuous violation of specified clauses 5.11.1 or 5.11.2 and may face suspension of trading or delisting under applicable Exchange conditions.
Source: PSX SNGP Company Profile
Investor caution: This is a material regulatory risk. Review the latest PSX notices and the underlying compliance issue before publishing. The alert does not, by itself, establish that trading has already been suspended or that the company has been delisted.
Key Risks for Investors
- Regulatory risk: Tariff decisions and government policies can affect revenue and allowed returns.
- Thin profit margins: High sales may translate into relatively low net profitability.
- Gas losses: Unaccounted-for-gas levels and operational inefficiencies can affect financial performance.
- Receivables and cash flow: Delayed customer payments can put pressure on liquidity.
- Supply-chain exposure: Changes in gas availability and purchase costs can affect operations.
- Earnings variability: Annual and quarterly performance may change as tariffs, costs and demand change.
- PSX compliance risk: The current Risk Warning Alert requires careful review.
- Shariah screening uncertainty: Verify the latest official screening status before considering SNGP for a Shariah-compliant portfolio.
Investor Research Checklist
Before assessing SNGP, review:
- The latest annual and quarterly financial statements.
- Sales, profit margins, EPS and operating cash flow.
- Receivables, overdue balances and provisions.
- Gas losses and regulated return arrangements.
- Current share price, valuation and confirmed dividend information.
- The latest official Shariah screening result.
- Current PSX notices, including the Risk Warning Alert and financial-filing updates.
Frequently Asked Questions
What is the PSX symbol for Sui Northern Gas Pipelines Limited?
Its Pakistan Stock Exchange symbol is SNGP.
What does SNGP do?
It purchases, transmits, distributes and supplies natural gas.
Is SNGP Shariah-compliant?
Its current status must be verified through the latest official PSX Shariah screening information before describing it as compliant.
What is the main risk to consider when researching SNGP?
Investors should review regulatory exposure, thin profit margins, receivables, gas losses and the Risk Warning Alert displayed on its PSX profile.
Disclaimer
This profile is for educational and informational purposes only and is not a recommendation to buy or sell SNGP shares. Financial results, market prices, regulatory notices and Shariah screening outcomes can change. Verify the latest official information before making investment decisions.
This profile is for educational purposes and is not a recommendation to buy or sell any security.