Stakeholders' Relations

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

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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.

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Shareholders Structure

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10% and above 21,882,900 total shares 72.943%
Takamul Investment Co. SAOC 9,799,000 32.663%
Civil Services Employees Pension Fund 4,500,000 15.000%
Al Saud Co. Ltd  3,027,525 10.092%
Others (759 Nos) 4,556,375 15.188%
5 - 10% 4,253,153 total shares 14.177%
Oman Oil Marketing Co. 2,753,153 9.177%
Royal Court- Employees Pension Fund 1,500,000 5.000%
2 - 5% 1,454,623 total shares 4.849%
Heirs of Hilal Saud Al Busaidi 837,194 2.791%
Mohamed Hamad Mohamed Al Harthy 617,429 2.058%
Less than 2% 2,409,324 total shares 8.031%
Omar Ahmed Salim Qatan 439,372 1.465%
Public authority for Social Insurance 343,086 1.144%
Petroleum Development Oman –Omani Pension Fund 324,488 1.082%
Imad Jaffar Mohammed Sajwani 250,000 0.833%
BANK MUSCAT / OGF / UNITED SECURITIES 230,541 0.768%
Royal Oman Police Pension Fund  226,346 0.754%
Ubhar Capital Co 215,491 0.718%
Al Adawi Trading and Contracting 200,000 0.667%
Azan Shanfari 180,000 0.600%
Total 30,000,000 total shares 100.000%
Total 30,000,000 100.000%

Financial Information

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Only the last 5 years are shown. For older statements, please visit the archives tab

2015 2016 2017 2018 2019
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

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2015 2016 2017 2018 2019
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

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2015 2016 2017 2018 2019
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

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Share capital Statutory reserve General reserve Special reserve Land revaluation reserve Retained earnings Total equity
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

2015

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Financial-Statements-2015
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البيانات-المالية-2015

2016

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Financial-Statements-2016
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البيانات-المالية-2016

2017

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Financial-Statements-2017
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البيانات-المالية-2017

2018

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Financial-Statements-2018
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2019

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Financial-Statements-2019
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Dividends

2019
Net Profit (OMR) 389,384
Retained Earnings (OMR) 621,256
Paid up Capital (OMR) 3,000,000
# of Shares 30,000,000
Dividend
% on Paid up Capital 20%
Bzs per share 0.020
Amount (OMR) 600,000
% on Retained Earnings 97%
2018
Net Profit (OMR) 219,938
Retained Earnings (OMR) 231,872
Paid up Capital (OMR) 3,000,000
# of Shares 30,000,000
Dividend
% on Paid up Capital 0%
Bzs per share 0.000
Amount (OMR) 0
% on Retained Earnings 0%
2017
Net Profit (OMR) 1,386,766
Retained Earnings (OMR) 1,960,337
Paid up Capital (OMR) 3,000,000
# of Shares 30,000,000
Dividend
% on Paid up Capital 72%
Bzs per share 0.072
Amount (OMR) 2,159,010
% on Retained Earnings 110%
2016
Net Profit (OMR) 804,486
Retained Earnings (OMR) 1,473,571
Paid up Capital (OMR) 3,000,000
# of Shares 30,000,000
Dividend
% on Paid up Capital 30%
Bzs per share 0.030
Amount (OMR) 900,000
% on Retained Earnings 61%
2015
Net Profit (OMR) 1,311,742
Retained Earnings (OMR) 1,719,085
Paid up Capital (OMR) 3,000,000
# of Shares 30,000,000
Dividend
% on Paid up Capital 35%
Bzs per share 0.035
Amount (OMR) 1,050,000
% on Retained Earnings 61%
2014
Net Profit (OMR) 1,363,539
Retained Earnings (OMR) 1,607,343
Paid up Capital (OMR) 3,000,000
# of Shares 30,000,000
Dividend
% on Paid up Capital 40%
Bzs per share 0.040
Amount (OMR) 1,200,000
% on Retained Earnings 75%

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