New Risk • Jun 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Omani stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (ر.ع10.2m market cap, or US$26.4m). New Risk • Jun 23
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (ر.ع9.82m market cap, or US$25.5m). Reported Earnings • Apr 15
First quarter 2026 earnings released: EPS: ر.ع0.063 (vs ر.ع0.071 in 1Q 2025) First quarter 2026 results: EPS: ر.ع0.063 (down from ر.ع0.071 in 1Q 2025). Revenue: ر.ع1.04m (down 27% from 1Q 2025). Net income: ر.ع227.5k (down 12% from 1Q 2025). Profit margin: 22% (up from 18% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Apr 01
Oman Chromite Company SAOG Approves Cash Dividend for the Year Ended December 31, 2025 Oman Chromite Company SAOG announced at annual ordinary general meeting held on March 31, 2026, approved to distribute cash dividends to shareholders as of the date of the General Meeting, amounting to (100) baisa per share from the profits realized for the financial year ended December 31, 2025. The dividend distribution will be carried out in two phases as follows: Distribution of (50) baisa per share from the cash dividends due immediately upon the convening of the General Meeting. Distribution of the remaining (50) baisa per share during the month of September of the current year. Declared Dividend • Mar 05
Dividend reduced to ر.ع0.10 Dividend of ر.ع0.10 is 45% lower than last year. Ex-date: 1st April 2026 Payment date: 1st January 1970 Dividend yield will be 2.7%, which is lower than the industry average of 4.8%. Announcement • Mar 05
Oman Chromite Company SAOG announces Annual dividend Oman Chromite Company SAOG announced Annual dividend of OMR 0.1000 per share, ex-date on April 01, 2026 and record date on March 31, 2026. Announcement • Mar 03
Oman Chromite Company SAOG, Annual General Meeting, Mar 31, 2026 Oman Chromite Company SAOG, Annual General Meeting, Mar 31, 2026, at 21:00 Arabian Standard Time. Reported Earnings • Feb 22
Full year 2025 earnings released: EPS: ر.ع0.16 (vs ر.ع0.30 in FY 2024) Full year 2025 results: EPS: ر.ع0.16 (down from ر.ع0.30 in FY 2024). Revenue: ر.ع4.89m (flat on FY 2024). Net income: ر.ع522.2k (down 48% from FY 2024). Profit margin: 11% (down from 20% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Reported Earnings • Jan 17
Full year 2025 earnings released: EPS: ر.ع0.18 (vs ر.ع0.30 in FY 2024) Full year 2025 results: EPS: ر.ع0.18 (down from ر.ع0.30 in FY 2024). Revenue: ر.ع4.97m (up 1.2% from FY 2024). Net income: ر.ع582.4k (down 42% from FY 2024). Profit margin: 12% (down from 20% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Reported Earnings • Apr 16
First quarter 2025 earnings released: EPS: ر.ع0.079 (vs ر.ع0.081 in 1Q 2024) First quarter 2025 results: EPS: ر.ع0.079 (down from ر.ع0.081 in 1Q 2024). Revenue: ر.ع1.46m (up 46% from 1Q 2024). Net income: ر.ع259.1k (down 3.1% from 1Q 2024). Profit margin: 18% (down from 27% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year and the company’s share price has also fallen by 3% per year. Board Change • Mar 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. Non-Executive & Independent Chairman Humaid Bin Masoud Bin Al-Maqbali was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Feb 27
Oman Chromite Company SAOG Proposes Cash Dividend Distribution for the Financial Year Ended 31 December 2024 The Board of Directors of Oman Chromite Company SAOG, at its AGM, to be held on March 18, 2025, to propose a cash dividend distribution of 200 baiza per share for the financial year ended 31 December 2024, to be granted to shareholders registered as of the date of the General Meeting. Announcement • Feb 26
Oman Chromite Company SAOG, Annual General Meeting, Mar 18, 2025 Oman Chromite Company SAOG, Annual General Meeting, Mar 18, 2025, at 21:00 Arabian Standard Time. Announcement • Feb 10
Oman Chromite Company SAOG to Report Fiscal Year 2024 Results on Feb 09, 2025 Oman Chromite Company SAOG announced that they will report fiscal year 2024 results at 10:00 AM, Arabian Standard Time on Feb 09, 2025 Board Change • Nov 19
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. Non-Executive & Independent Chairman Humaid Bin Masoud Bin Al-Maqbali was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Oct 16
Third quarter 2024 earnings released: EPS: ر.ع0.082 (vs ر.ع0.041 in 3Q 2023) Third quarter 2024 results: EPS: ر.ع0.082 (up from ر.ع0.041 in 3Q 2023). Revenue: ر.ع1.63m (up 72% from 3Q 2023). Net income: ر.ع270.9k (up 102% from 3Q 2023). Profit margin: 17% (up from 14% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Oct 11
Oman Chromite Company SAOG Signs Mining Concession Agreement with the Ministry of Energy and Minerals The Ministry of Energy and Minerals of the Sultanate of Oman has signed a mining concession agreement on the 9th of October 2024 with Oman Chromite Company for Mining Area 11-A in the north of the Sultanate, aimed at enhancing exploration activities for chrome, copper, and other minerals. The agreement was signed on behalf of the Ministry by His Excellency Engineer Salem Al- Aufi, Minister of Energy and Minerals, and by Mr. Humaid bin Masoud Al-Maqbali, Chairman of the Board of Oman Chromite Company. The concession area covers approximately 1438 square kilometers and the agreement aims to implement advanced exploration programs using the latest exploration and drilling technologies. The value of the exploratory investment is about 4.5 million OMR,where Oman Chromite Company is committed to carrying out exploration work to the highest standards. This agreement is part of the comprehensive strategy of the Sultanate in the mining sector, which aims to allocate large concession areas to attract professional and specialized exploration companies to discover mining opportunities in the Sultanate and convert them into sustainable economic projects that contribute to creating added value for the national economy. New Risk • Aug 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Omani stocks, typically moving 4.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (29% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (4.3% average weekly change). Profit margins are more than 30% lower than last year (17% net profit margin). Market cap is less than US$100m (ر.ع13.9m market cap, or US$36.0m). Reported Earnings • Jul 17
Second quarter 2024 earnings released: EPS: ر.ع0.11 (vs ر.ع0.22 in 2Q 2023) Second quarter 2024 results: EPS: ر.ع0.11 (down from ر.ع0.22 in 2Q 2023). Revenue: ر.ع1.52m (down 31% from 2Q 2023). Net income: ر.ع365.7k (down 50% from 2Q 2023). Profit margin: 24% (down from 34% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 18
First quarter 2024 earnings released: EPS: ر.ع0.081 (vs ر.ع0.24 in 1Q 2023) First quarter 2024 results: EPS: ر.ع0.081 (down from ر.ع0.24 in 1Q 2023). Revenue: ر.ع1.06m (down 44% from 1Q 2023). Net income: ر.ع267.5k (down 67% from 1Q 2023). Profit margin: 25% (down from 43% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Feb 24
Oman Chromite Company SAOG, Annual General Meeting, Mar 18, 2024 Oman Chromite Company SAOG, Annual General Meeting, Mar 18, 2024, at 17:00 Coordinated Universal Time. Agenda: To consider and approve the Board of Director's Report for the financial year ended 31 December 2023; to consider and approve the Corporate Governance Report for the financial year ended 31 December 2023; to consider and approve the Board of Directors performance report for the financial year ended 31/12/2023; to consider the Auditor's Report and to approve the Financial Statements (Balance Sheet and Profit and Loss Account) of the Company for the financial year ended 31 December 2023; to consider and approve the proposed cash dividend to the shareholders, as on the date of the meeting, amounting to 100 baisa for each share for the financial year ended 31 December 2023. Reported Earnings • Feb 21
Full year 2023 earnings released: EPS: ر.ع0.54 (vs ر.ع0.46 in FY 2022) Full year 2023 results: EPS: ر.ع0.54 (up from ر.ع0.46 in FY 2022). Revenue: ر.ع5.99m (up 33% from FY 2022). Net income: ر.ع1.63m (up 18% from FY 2022). Profit margin: 27% (down from 31% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 16
Full year 2023 earnings released: EPS: ر.ع0.56 (vs ر.ع0.46 in FY 2022) Full year 2023 results: EPS: ر.ع0.56 (up from ر.ع0.46 in FY 2022). Revenue: ر.ع6.06m (up 34% from FY 2022). Net income: ر.ع1.67m (up 21% from FY 2022). Profit margin: 28% (down from 31% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Nov 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.8%. The fair value is estimated to be ر.ع6.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 54% over the last 3 years. Earnings per share has grown by 100%. Board Change • Oct 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. Non-Executive & Independent Chairman Humaid Bin Masoud Bin Ali Al-Maqbali was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ر.ع4.27, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 16x in the Metals and Mining industry in Asia. Total returns to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ر.ع3.90, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 15x in the Metals and Mining industry in Asia. Total returns to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ر.ع2.19, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 14x in the Metals and Mining industry in Asia. Total loss to shareholders of 35% over the past three years. Announcement • Feb 13
Oman Chromite Company SAOG, Annual General Meeting, Mar 02, 2023 Oman Chromite Company SAOG, Annual General Meeting, Mar 02, 2023, at 11:00 Coordinated Universal Time. Agenda: To consider and approve the Board of Director's Report for the financial year ended 31 December 2022; To consider and approve the Corporate Governance Report for the financial year ended 31 December 2022; To consider the Auditor's Report and to approve the Financial Statements of the Company for the financial year ended 31 December 2022; To consider and approve the proposed cash dividend to the shareholders, as on the date of the meeting, amounting to 200 baisa for each share for the financial year ended 31 December 2022. Reported Earnings • Jan 18
Full year 2022 earnings released: EPS: ر.ع0.49 (vs ر.ع0.12 in FY 2021) Full year 2022 results: EPS: ر.ع0.49 (up from ر.ع0.12 in FY 2021). Revenue: ر.ع4.69m (up 58% from FY 2021). Net income: ر.ع1.47m (up 297% from FY 2021). Profit margin: 31% (up from 13% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: ر.ع0.15 (vs ر.ع0.05 in 2Q 2021) Second quarter 2022 results: EPS: ر.ع0.15 (up from ر.ع0.05 in 2Q 2021). Revenue: ر.ع1.27m (up 76% from 2Q 2021). Net income: ر.ع449.7k (up 198% from 2Q 2021). Profit margin: 35% (up from 21% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ر.ع2.92, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 11x in the Metals and Mining industry in Asia. Total loss to shareholders of 17% over the past three years. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: ر.ع0.068 (vs ر.ع0.038 in 1Q 2021) First quarter 2022 results: EPS: ر.ع0.068 (up from ر.ع0.038 in 1Q 2021). Revenue: ر.ع575.3k (down 26% from 1Q 2021). Net income: ر.ع204.2k (up 77% from 1Q 2021). Profit margin: 36% (up from 15% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Feb 06
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ر.ع0.12 (up from ر.ع0.21 loss in FY 2020). Revenue: ر.ع2.96m (up 170% from FY 2020). Net income: ر.ع369.2k (up ر.ع1.00m from FY 2020). Profit margin: 13% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 14
Second quarter 2021 earnings released: EPS ر.ع0.05 (vs ر.ع0.037 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: ر.ع721.9k (up 124% from 2Q 2020). Net income: ر.ع151.1k (up 37% from 2Q 2020). Profit margin: 21% (down from 34% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 14
First quarter 2021 earnings released: EPS ر.ع0.038 (vs ر.ع0.017 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: ر.ع794.0k (up 221% from 1Q 2020). Net income: ر.ع115.4k (up 131% from 1Q 2020). Profit margin: 14% (down from 20% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 10
Full year 2020 earnings released: ر.ع0.21 loss per share (vs ر.ع0.12 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ر.ع1.10m (down 54% from FY 2019). Net loss: ر.ع634.0k (down 283% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Jan 19
Full year 2020 earnings released: ر.ع0.24 loss per share The company reported a poor full year result with weaker earnings, revenues and control over expenses. Full year 2020 results: Revenue: ر.ع1.13m (down 53% from FY 2019). Net loss: ر.ع736.2k (down 313% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Oct 14
Third quarter earnings released Over the last 12 months the company has reported total profits of ر.ع182.6k, down 42% from the prior year. Total revenue was ر.ع1.44m over the last 12 months, down 33% from the prior year. 