Karachi: Mari Energies Limited has reported a record financial performance for the year ended June 30, 2026, driven by strong operational performance, higher hydrocarbon sales, and improved profitability. The company’s Board of Directors has also recommended a final cash dividend of Rs18.7 per share (187%), taking the total dividend for the year to Rs27 per share (270%), including the interim dividend already paid.
The company posted a net profit of Rs87.1 billion, a significant increase from Rs65.1 billion recorded in the previous year. Earnings per share (EPS) rose to Rs72.52, compared with Rs54.25 in FY2024-25. Mari Energies stated that the results included the impact of the reversal of Super Tax following a judgment by the Federal Constitutional Court of Pakistan.
Despite facing an additional Rs8.5 billion royalty charge under the Pakistan Onshore Petroleum (Exploration and Production) Rules, the company maintained a strong operating profit of Rs82.6 billion, compared to Rs81.4 billion a year earlier. It also reduced overdue trade debts to Rs61.7 billion from Rs66.9 billion, reflecting improved recoveries.
Operationally, Mari Energies achieved its highest-ever hydrocarbon sales of 41.28 million barrels of oil equivalent (MMBOE), or 113.1 thousand barrels of oil equivalent per day (KBOEPD), despite production curtailments caused by excess RLNG and disruptions to the SNGPL pipeline. The company also added 157 MMBOE of proved and probable reserves, resulting in an exceptional 375% reserve replacement ratio, while total reserves and resources reached 1,029 MMBOE. Its reserve-to-production ratio improved to a record 21 years.
During the year, Mari Energies commenced early production from the Spinwam field in the Waziristan Block, increasing the block’s production to 100 MMSCFD of gas and approximately 800 barrels of condensate per day. Production from the Shams discovery within the Mari Field also started, while the company secured an allocation of 222 MMSCFD of raw gas from the Ghazij Field to supply three major fertilizer manufacturers, a move that will eventually provide gas to all fertilizer plants in Pakistan.
The company also expanded its exploration footprint by increasing its portfolio to 72 exploration licenses, covering 155,276 square kilometers across onshore and offshore basins in Pakistan. In addition, Mari Energies incorporated GHG Emissions Mitigation Limited, a joint venture with Ghani Chemical Industries, to recover LNG and produce food and industrial-grade carbon dioxide from vent gas.
Beyond energy, the company continued to diversify its business. Under its mining segment, MariMinerals advanced drilling activities and began establishing a state-of-the-art laboratory in Islamabad. In technology, Mari Technologies Limited, through SKY47 Limited, inaugurated its first 5 MW Tier III data center in Islamabad, while work on a second facility in Karachi remains on schedule.
Mari Energies further announced that shareholders registered by September 21, 2026, will be entitled to receive the final dividend. The company’s Annual General Meeting (AGM) is scheduled for September 25, 2026, in Islamabad.
