Saif Power Limited has a combined cycle thermal power plant with a gross capacity of 225 MW. The plant consists of 2 gas turbines from GE France and a steam turbine from Siemens Sweden. The plant uses natural gas as the primary source of fuel, and HSD as secondary source of fuel. The plant commenced its operations on 30th April 2010 under a 30-year Power Purchase Agreement (PPA) with NTDC, a Gas Supply Agreement (GSA) with SSGC, and a Fuel Supply Agreement (FSA) with Shell.
Shareholding pattern Majority of the shares at Saif Power Limited (51 percent) rest with Saif Holding Limited (SHL), which is responsible for business development and investment activities of the Saif Group, and also provides consultancy and other related services to its associated companies. SHL also provides local support and other representative services to leading transnational corporations; it is also the third party sales representative in Pakistan for Motorola Inc. SHL is also the regional service provider in Pakistan, Afghanistan and Central Asian Republics for Iridium Communications Inc., which operates a system of active satellites used for worldwide voice and data communication from hand-held satellite phones and other units.
Another key shareholder holding over 17 percent of the company's share is a foreign company Orastar Limited, and according to the internet, the company is under the laws of British Virgin Islands. The main activity of the company is investments with a wide-ranging portfolio. Over 15 percent of the shares are held by the banks, DFIs and NBFIs, and over 5 percent rest with the general public.
=================================================== Saif Power Limited-Shareholdings as on 31 Dec, 2018 =================================================== Category of shareholder Percentage =================================================== SPONSORS, DIRECTORS, CEO AND CHILDREN 0.0032 ASSOCIATED COMPANIES 51.045 Saif Holding Limited 51.045 Saif Textile Mills Limited 0.000 BANKS, DFI AND NBFI 15.776 INSURANCE COMPANIES 1.615 MODARABAS AND MUTUAL FUND 3.463 GENERAL PUBLIC (LOCAL) 5.129 GENERAL PUBLIC (FOREIGN) 0.607 OTHERS 2.507 FOREIGN COMPANIES 19.855 ORASTAR LIMITED 17.083 =================================================== Total 100 ===================================================
Source: Company accounts
==================================================================== Saif Power Limited ==================================================================== Rs(mn) 9MCY19 9MCY18 YoY ==================================================================== Turnover-net 13,284 14,403 -8% Cost of sales 9,530 11,383 -16% Gross Profit 3,754 3,020 24% Administrative expenses 119 110 9% Finance cost 937 606 55% Other income 2 2 -19% Profit for the period 2,700 2,306 17% Earnings per share- basic and diluted 6.99 5.97 17% Gross margins 28.26% 20.97% Net margins 20.32% 16.01% ====================================================================
Source: Company Accounts