Stakeholders' Relations
Over the years, the Company has expanded its scale of operations with capacity expansion



Tenders
WELCOME TO MUSCAT GAS
Muscat Gases Company SAOG was established in the year 1983 in Muscat, Sultanate of Oman, to trade in Industrial gases and LPG. In the year 1985, the first production facility was established at the Industrial Estate in Rusayl, Sultanate of Oman. MGC’s commitment in consistently meeting customers’ needs have been instrumental in aiding the growth achieved since its inception. MGC became a Publicly listed Company in 1989. Over the years, the organization has expanded its scale of operations with capacity expansion at LPG Bottling Plants, Bulk LPG and Industrial Gases manufacturing and trading.
Financial Information
Click on the item names to compare values between years
Only the last 5 years are shown. For older statements, please visit the archives tab
Non-current assets | |||||
Property, plant and equipment | 6,130,942 | 5,633,604 | 2,675,878 | 2,514,382 | 3,138,365 |
Right of use assets | - | - | - | - | 268,681 |
Investment in an associate | - | - | 1,984,296 | 1,839,874 | 1,849,393 |
Available for sale investments | 165,000 | 165,000 | - | - | - |
Totalnon-current assets | 6,295,942 | 5,798,604 | 4,660,174 | 4,354,256 | 5,256,439 |
Current assets | |||||
Inventories | 1,023,820 | 1,073,047 | 155,561 | 160,107 | 175,850 |
Trade and other receivables | 2,159,820 | 2,959,146 | 1,465,112 | 1,727,088 | 2,475,345 |
Bank balances and cash | 892,622 | 772,132 | 4,477,794 | 2,196,766 | 2,538,938 |
Available for sale investments | - | - | - | - | - |
Totalcurrent assets | 4,076,262 | 4,804,325 | 6,098,467 | 4,083,961 | 5,190,133 |
Totalassets | 10,372,204 | 10,602,929 | 10,758,641 | 8,438,217 | 10,446,572 |
Equity | |||||
Share capital | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 |
Statutory reserve | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
General reserve | 198,672 | 198,672 | - | - | - |
Special reserve | 1,457,067 | 1,457,067 | 1,457,067 | 1,457,067 | 1,457,067 |
Land revaluation reserve | 1,110,887 | 1,110,887 | 1,110,887 | 1,110,887 | 1,110,887 |
Retained earnings | 1,719,085 | 1,473,571 | 2,159,009 | 231,873 | 621,257 |
Totalequity | 8,485,711 | 8,240,197 | 8,726,963 | 6,799,827 | 7,189,211 |
Non-current liabilities | |||||
Employees' end of service benefits | 165,354 | 190,438 | 120,644 | 53,230 | 56,261 |
Non-current portion of finance lease | - | - | 197,261 | 144,656 | - |
Non-current portion of term loan | - | - | - | - | 797,718 |
Non-current portion of lease liabilities | - | - | - | - | 250,336 |
Deferred tax liability | 213,897 | 201,120 | 194,320 | 199,010 | 195,624 |
Totalnon-current liabilities | 379,251 | 391,558 | 512,225 | 396,896 | 1,299,939 |
Current liabilities | |||||
Trade and other payables | 1,337,402 | 1,850,654 | 836,787 | 1,098,498 | 1,687,993 |
Bank overdrafts | - | - | 350,088 | - | - |
Current portion of finance lease | - | - | 40,564 | 55,055 | - |
Current portion of term loan | - | - | - | - | 202,707 |
Current portion of lease liabilities | - | - | - | - | 22,909 |
Tax payable | 169,840 | 120,520 | 292,014 | 87,941 | 43,813 |
Totalcurrent liabilities | 1,507,242 | 1,971,174 | 1,519,453 | 1,241,494 | 1,957,422 |
Total liabilities | 1,886,493 | 2,362,732 | 2,031,678 | 1,638,390 | 3,257,361 |
Totalequity and liabilities | 10,372,204 | 10,602,929 | 10,758,641 | 8,438,217 | 10,446,572 |
Net assets per share | 0.283 | 0.275 | 0.291 | 0.227 | 0.24 |
Click on the item names to compare values between years
Only the last 5 years are shown. For older statements, please visit the archives tab
Profit before income tax | 1,446,592 | 912,229 | 1,671,886 | 310,248 | 429,811 |
Adjustments | |||||
Allowance for slow-moving inventories | 9,000 | 9,000 | 3,000 | 3,000 | 3,000 |
Depreciation of property, plant and equipment | 617,727 | 577,640 | 335,198 | 227,929 | 213,730 |
Provision reversed on slow-moving inventories | - | -3,527 | -158,769 | - | - |
Dividend income | -33,690 | - | -8,767 | -1,241 | - |
Share of loss from associate | - | - | - | 144,422 | -9,519 |
Interest income | -271 | - | -8,460 | -48,773 | -77,625 |
Provision for employees’ end of service benefits | 42,815 | 27,308 | 33,702 | - | - |
Gain on disposal of property, plant and equipment (net) | -4,037 | -425 | -10,000 | - | - |
Write-off of provision for doubtful debts | -3,881 | -6,855 | -73,004 | - | - |
Depreciation on right-of-use assets | - | - | - | - | 28,659 |
Allowance for doubtful debts | 10,000 | 41,010 | 32,650 | - | - |
Operating profit before working capital adjustments | 2,084,255 | 1,556,380 | 1,817,436 | 635,585 | 588,056 |
Working capital changes | |||||
Inventories | 161,443 | -54,700 | 1,073,255 | -7,546 | -18,743 |
Trade and other receivables | 762,014 | -1,483,481 | 1,534,388 | -262,026 | -750,425 |
Trade and other payables | -124,955 | 513,252 | -1,013,867 | 261,723 | 589,495 |
Cash flows from operations | 2,882,757 | 531,451 | 3,411,212 | 627,736 | 408,383 |
Income tax paid | -156,813 | -169,840 | -120,426 | -289,692 | -87,941 |
Employees’ end of service benefits paid | -64,743 | -2,224 | -103,496 | -82,499 | -6,111 |
Net cash flow fromoperating activities | 1,214,609 | -552,842 | 1,515,404 | -54,703 | -115,480 |
Investment in an associate | - | 3,522 | 10,000 | - | - |
Movement in term deposit | -650,000 | 650,000 | - | - | - |
Dividend received | 33,690 | - | 8,767 | 1,241 | - |
Interest received | 271 | - | 8,460 | 48,773 | 77,625 |
Proceeds on property, plant and equipment relating to the disposal of business division | - | - | 3,391,836 | - | - |
Proceeds on sale of investments in available for sale | - | - | 165,000 | - | - |
Purchase of property, plant and equipment | -318,363 | -83,399 | -769,308 | -69 | -837,713 |
Net cash flow frominvesting activities | -917,780 | 570,123 | 830,459 | 67,982 | -760,088 |
Fund from finance lease | - | - | 237,825 | - | - |
Finance charges on lease liabilities | - | - | - | - | 17,180 |
Dividends paid | -1,200,000 | -1,050,000 | -900,000 | -2,159,009 | - |
Finance charges paid | - | - | - | -33,107 | -59,825 |
Term loans (net) | - | - | - | -38,114 | 800,714 |
Lease liabilities (net) | - | - | - | - | -31,960 |
Net cash flow fromfinancing activities | -1,200,000 | -1,050,000 | -662,175 | -2,230,230 | 726,109 |
Change in cash and cash equivalents | 1,436,043 | 651,642 | 7,483,280 | 290,063 | 2,819,290 |
Cash and cash equivalents at 1 Jan | 349,201 | 1,785,244 | 2,436,886 | 9,920,166 | 10,210,229 |
Cash and cash equivalents at 31 Dec | 1,785,244 | 2,436,886 | 9,920,166 | 10,210,229 | 13,029,519 |
Click on the item names to compare values between years
Only the last 5 years are shown. For older statements, please visit the archives tab
Revenue | 9,414,315 | 9,210,711 | 9,089,093 | 8,669,245 | 11,833,448 |
Cost of sales | -7,498,044 | -7,775,486 | -7,867,786 | -7,701,107 | -10,875,314 |
Gross profit | 1,916,271 | 1,435,225 | 1,221,307 | 968,138 | 958,134 |
Allowance for expected credit loss (net) | - | - | - | -12,055 | 7,147 |
Gain on disposal of business division | - | - | 1,467,040 | - | - |
Administrative and general expenses | -588,269 | -625,212 | -1,120,504 | -637,514 | -631,951 |
Share of profit of an associate | - | - | 3,464 | -144,422 | 9,519 |
Other income | 118,590 | 102,216 | 100,579 | 172,208 | 149,787 |
Allowance for slow-moving inventories | - | - | - | -3,000 | -3,000 |
Profit before finance charges and income tax | 1,446,592 | 912,229 | 1,671,886 | 343,355 | 489,636 |
Finance charges | - | - | - | -33,107 | -59,825 |
Profit before income tax | 1,446,592 | 912,229 | 1,671,886 | 310,248 | 429,811 |
Income tax expense | -134,850 | -107,743 | -285,120 | -90,310 | -40,427 |
Profit for the year | 1,311,742 | 804,486 | 1,386,766 | 219,938 | 389,384 |
Revaluation of land (net of tax) | 1,110,887 | - | - | - | - |
Total comprehensive income for the year | 2,422,629 | 804,486 | 1,386,766 | 219,938 | 389,384 |
Earnings per share | 0.081 | 0.027 | 0.046 | 0.007 | 0.013 |
Click on the item names to compare values between years
Only the last 5 years are shown. For older statements, please visit the archives tab
2015 | |||||||
Shareholders' Equity as of Jan 1 | 3,000,000 | 1,000,000 | 198,672 | 1,457,067 | - | 1,607,343 | 7,263,082 |
Transition adjustment on adoption of IFRS 9 | - | - | - | - | - | - | - |
Shareholders' Equity as of Jan 1 (adjusted) | 3,000,000 | 1,000,000 | 198,672 | 1,457,067 | 1,110,887 | 1,719,085 | 8,485,711 |
Profit for the year | - | - | - | - | - | 1,311,742 | 1,311,742 |
Other comprehensive income | - | - | - | - | 1,110,887 | - | 1,110,887 |
Total comprehensive income | - | - | - | - | 1,110,887 | 1,311,742 | 2,422,629 |
Transfer to retained earnings | - | - | - | - | - | - | - |
Dividend paid for the previous year | - | - | - | - | - | -1,200,000 | -1,200,000 |
Shareholders' Equity as of Dec 31 | 3,000,000 | 1,000,000 | 198,672 | 1,457,067 | 1,110,887 | 1,719,085 | 8,485,711 |
2016 | |||||||
Shareholders' Equity as of Jan 1 | 3,000,000 | 1,000,000 | 198,672 | 1,457,067 | 1,110,887 | 1,719,085 | 8,485,711 |
Transition adjustment on adoption of IFRS 9 | - | - | - | - | - | - | - |
Shareholders' Equity as of Jan 1 (adjusted) | 3,000,000 | 1,000,000 | 198,672 | 1,457,067 | 1,110,887 | 1,473,571 | 8,240,197 |
Profit for the year | - | - | - | - | - | 804,486 | 804,486 |
Other comprehensive income | - | - | - | - | - | - | - |
Total comprehensive income | - | - | - | - | - | 804,486 | 804,486 |
Transfer to retained earnings | - | - | - | - | - | - | - |
Dividend paid for the previous year | - | - | - | - | - | -1,050,000 | -1,050,000 |
Shareholders' Equity as of Dec 31 | 3,000,000 | 1,000,000 | 198,672 | 1,457,067 | 1,110,887 | 1,473,571 | 8,240,197 |
2017 | |||||||
Shareholders' Equity as of Jan 1 | 3,000,000 | 1,000,000 | 198,672 | 1,457,067 | 1,110,887 | 1,473,571 | 8,240,197 |
Transition adjustment on adoption of IFRS 9 | - | - | - | - | - | - | - |
Shareholders' Equity as of Jan 1 (adjusted) | 3,000,000 | 1,000,000 | - | 1,457,067 | 1,110,887 | 2,159,009 | 8,726,963 |
Profit for the year | - | - | - | - | - | 1,386,766 | 1,386,766 |
Other comprehensive income | - | - | - | - | - | - | - |
Total comprehensive income | - | - | - | - | - | 1,386,766 | 1,386,766 |
Transfer to retained earnings | - | - | -198,672 | - | - | 198,672 | - |
Dividend paid for the previous year | - | - | - | - | - | -900,000 | -900,000 |
Shareholders' Equity as of Dec 31 | 3,000,000 | 1,000,000 | - | 1,457,067 | 1,110,887 | 2,159,009 | 8,726,963 |
2018 | |||||||
Shareholders' Equity as of Jan 1 | 3,000,000 | 1,000,000 | - | 1,457,067 | 1,110,887 | 2,159,009 | 8,726,963 |
Transition adjustment on adoption of IFRS 9 | - | - | - | - | - | 11,935 | 11,935 |
Shareholders' Equity as of Jan 1 (adjusted) | 3,000,000 | 1,000,000 | - | 1,457,067 | 1,110,887 | 243,808 | 6,811,762 |
Profit for the year | - | - | - | - | - | 219,938 | 219,938 |
Other comprehensive income | - | - | - | - | - | - | - |
Total comprehensive income | - | - | - | - | - | 219,938 | 219,938 |
Transfer to retained earnings | - | - | - | - | - | - | - |
Dividend paid for the previous year | - | - | - | - | - | -2,159,009 | -2,159,009 |
Shareholders' Equity as of Dec 31 | 3,000,000 | 1,000,000 | - | 1,457,067 | 1,110,887 | 231,873 | 6,799,827 |
2019 | |||||||
Shareholders' Equity as of Jan 1 | 3,000,000 | 1,000,000 | - | 1,457,067 | 1,110,887 | 231,873 | 6,799,827 |
Transition adjustment on adoption of IFRS 9 | - | - | - | - | - | - | - |
Shareholders' Equity as of Jan 1 (adjusted) | 3,000,000 | 1,000,000 | - | 1,457,067 | 1,110,887 | 621,257 | 7,189,211 |
Profit for the year | - | - | - | - | - | 389,384 | 389,384 |
Other comprehensive income | - | - | - | - | - | - | - |
Total comprehensive income | - | - | - | - | - | 389,384 | 389,384 |
Transfer to retained earnings | - | - | - | - | - | - | - |
Dividend paid for the previous year | - | - | - | - | - | - | - |
Shareholders' Equity as of Dec 31 | 3,000,000 | 1,000,000 | - | 1,457,067 | 1,110,887 | 621,257 | 7,189,211 |
Dividends
Annual Reports
English

Arabic
