Press Release

VIS Upgrades Entity Ratings of Taj Gasoline (Private) Limited

Karachi, January 01, 2026: VIS Credit Rating Company Limited (VIS) has upgraded the entity ratings of Taj Gasoline (Private) Limited (‘TGPL’ or ‘the OMC’) from A/A2 (Single A /A Two) to A+/A1 (Single A Plus /A One). The medium to long-term rating of ‘A+’ signifies good credit quality and adequate protection factors; risk factors may vary with possible changes in the economy. Short-term rating of ‘A1’ signifies strong likelihood of timely repayment of short-term obligations with excellent liquidity factors. Outlook on the assigned ratings is ‘Stable’. Previous rating action was announced on August 20, 2024.

Taj Gasoline (Private) Limited (“TGPL” or “the OMC”) is an Oil Marketing Company (OMC) engaged in the procurement, storage, marketing, and sale of petroleum and related products. The Company is part of the Taj Group, which has been in the downstream oil business for five decades and, over the years, has expanded into the automotive dealership business, hospitality sector inclusive of chain of hotels, RT restaurants and Piatto Cafes operating under Royal Taj.

Assigned ratings reflect OMC’s increasing market share, supported by expanded storage capacity and a continued increase in the number of sites. The OMC has shown strong topline growth over the years together with sound profitability profile. Ratings incorporate strong cash flow generation capacity of the OMC together with efficient working capital management. Capitalization profile is supported by minimal gearing despite robust capex activity. Going forward, effective execution of planned growth in market share, retention of profits to strengthen the balance sheet, and maintenance of a prudent capitalization profile, along with preservation of liquidity, will remain key considerations for ratings.

For further information on this ratings announcement, please contact at 021-35311861-64 or email at info@vis.com.pk.



Applicable Rating Criteria: Corporates:
https://docs.vis.com.pk/docs/CorporateMethodology.pdf
VIS Issue/Issuer Rating Scale
https://docs.vis.com.pk/docs/VISRatingScales.pdf

Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited (VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright January 01, 2026 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.