Sui Southern Gas Company Limited
By PSX Investors Zone · Updated October 20, 2026
Sui Southern Gas Company Limited (PSX: SSGC) is a Pakistani natural-gas transmission and distribution company serving customers in Sindh and Balochistan. Its activities include gas transmission, distribution, gas-meter manufacturing, LPG air mix and pipeline construction. In FY2025, SSGC reported sales of approximately Rs. 435.07 billion, profit after tax of Rs. 2.69 billion and EPS of Rs. 3.05. Investors should also review the company's low net profit margin, quarterly earnings, receivables, regulatory risks, current Shariah screening status and the Risk Warning Alert displayed by PSX. High revenue does not necessarily translate into high profitability or strong cash flow. Source: https://dps.psx.com.pk/company/SSGC
Company Overview
Sui Southern Gas Company Limited (SSGC) is a public limited company listed on the Pakistan Stock Exchange. It was established on 30 March 1989 following the amalgamation of Karachi Gas Company, Indus Gas Company and Sui Gas Transmission Company.
The company's principal activity is the transmission and distribution of natural gas in Sindh and Balochistan. It is also involved in related activities, including manufacturing and selling gas meters, LPG air mix and constructing gas pipelines.
Official sources:
Business Model
SSGC operates a regulated natural-gas transmission and distribution network. Its business includes transporting gas through pipelines and distributing it to customers across its service area.
The company's financial performance can be influenced by regulated gas prices, gas purchase costs, distribution losses, recoveries from customers, circular debt, receivables, operating expenses and regulatory decisions.
Because SSGC operates in a regulated utility business, investors should examine not only sales and reported profits but also cash flow, overdue receivables and the recoverability of amounts owed by customers.
Fundamental Analysis
The following figures are taken from the standardized financial information displayed on the PSX profile. Amounts are shown in billions of Pakistani rupees except EPS and margins.
| Financial Metric | FY2025 | FY2024 |
|---|---|---|
| Sales | Rs. 435.07bn | Rs. 465.87bn |
| Profit after tax | Rs. 2.69bn | Rs. 6.84bn |
| Earnings per share (EPS) | Rs. 3.05 | Rs. 7.76 |
| Gross profit margin | 2.53% | 2.23% |
| Net profit margin | 0.62% | 1.47% |
Source: PSX SSGC Financial Profile
SSGC's sales and profit after tax declined in FY2025 compared with FY2024. Although its gross profit margin improved slightly, its net profit margin decreased. This shows why investors should assess profitability alongside revenue rather than assuming that a large sales figure means a financially strong business.
These figures are based on PSX's standardized financial data. Consult the original annual report for the reported financial statements, accounting notes and explanations of year-on-year changes.
Latest Available FY2026 Quarterly Results
The PSX profile provides the following quarterly information for FY2026:
| Financial Metric | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 |
|---|---|---|---|
| Sales | Rs. 87.38bn | Rs. 94.14bn | Rs. 91.29bn |
| Profit after tax | Rs. 270.98m | Loss of Rs. 52.37m | Loss of Rs. 114.91m |
| EPS | Rs. 0.31 | -Rs. 0.06 | -Rs. 0.13 |
Source: PSX SSGC Quarterly Financials
SSGC reported losses in Q2 and Q3 FY2026 after a profitable Q1. Investors should review the quarterly reports to identify the causes and assess whether these results reflect temporary adjustments or continuing operating pressures.
These are quarterly results, not full-year FY2026 figures. Do not present them as the company's annual FY2026 performance.
Share Price and Valuation
The PSX snapshot available on 19 October 2026 showed the following market information:
| Market Metric | Value |
|---|---|
| Reference share price | Rs. 22.77 |
| 52-week high | Rs. 43.39 |
| 52-week low | Rs. 19.02 |
| P/E ratio (TTM) | N/A |
Source: PSX SSGC Quote
These figures are a dated snapshot, not a live quote. Refresh them before publishing. The P/E ratio is shown as unavailable on the PSX profile, so no current P/E-based valuation conclusion should be made from this data.
Dividend Information
Verify the latest dividend announcements and payout history directly from PSX before publishing any dividend amount or yield. A dividend yield should be calculated using a confirmed dividend amount and a clearly identified share-price date.
Source: PSX SSGC Announcements and Payouts
Shariah Screening Status
SSGC appears in the PSX KMI-30 index following the recomposition based on screening information using accounts as of 31 December 2025. PSX describes KMI-30 as an index tracking the 30 most liquid Shariah-compliant companies listed on the Exchange.
Sources:
- PSX KMI-30 Index
- Official PSX KMI-30 Recomposition Notice, 15 May 2026
- PSX Shariah-Compliant Investment Information
The status relates to the screening information and methodology applicable to that review. PSX announced revised screening criteria and indicated that their implementation would begin with the November 2026 recomposition based on June 2026 accounts. Check the latest official screening notice before publishing or relying on SSGC's status.
Important PSX Risk Warning Alert
The official PSX profile displays a Risk Warning Alert stating that SSGC 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 SSGC Company Profile
This is a material regulatory risk and should be prominently disclosed. Review the latest PSX notices to establish the current compliance issue and any required actions. The alert does not, by itself, prove that trading has already been suspended or that the company has been delisted.
Receivables and Audit Considerations
SSGC's interim financial reporting for the half year ended 31 December 2025 includes a qualified conclusion concerning overdue receivables from K-Electric Limited and Pakistan Steel Mills Corporation. The report discusses disputed late-payment surcharges and management's treatment of these amounts.
Source: SSGC Interim Financial Report — PSX
Receivables are important for a gas utility because revenue recognition and cash collection do not always occur at the same time. Investors should review the latest audited and interim reports for outstanding balances, ageing, provisions, recoverability and the auditor's comments. Recheck the latest report before describing the issue as resolved or unchanged.
Key Risks for Investors
- Low profitability: High sales do not necessarily result in strong margins.
- Receivables and cash flow: Delayed payments and disputed balances may affect liquidity and cash collection.
- Regulatory risk: Gas pricing, tariffs and government policy can affect operations.
- Gas losses and operating costs: Distribution losses and network expenses can influence profitability.
- Earnings volatility: Quarterly profits and losses have varied.
- PSX compliance risk: The displayed Risk Warning Alert requires investigation.
- Shariah screening changes: Screening status can change following updated financial information or revised criteria.
Investor Research Checklist
Before assessing SSGC, review:
- The latest annual report and quarterly financial statements.
- Sales, EPS, profit margins and operating cash flow.
- Receivables, overdue customer balances and provisions.
- Gas losses, operating expenses and regulatory adjustments.
- Current market price and confirmed dividend information.
- The latest official Shariah screening result.
- Current PSX notices relating to the Risk Warning Alert.
Frequently Asked Questions
What is the PSX symbol for Sui Southern Gas Company?
Its Pakistan Stock Exchange symbol is SSGC.
What does SSGC do?
It transmits and distributes natural gas in Sindh and Balochistan and conducts related gas-business activities.
Is SSGC Shariah-compliant?
SSGC was included in the KMI-30 index based on the screening review using accounts as of 31 December 2025. Investors should check the latest official PSX screening notice before relying on that status.
What is the main risk to consider when researching SSGC?
Investors should examine receivables, profitability, cash flow, regulatory exposure and the Risk Warning Alert currently displayed on its PSX profile.
Disclaimer
This profile is for educational and informational purposes only and is not a recommendation to buy or sell SSGC shares. Financial results, share prices, regulatory notices and Shariah screening status 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.