Earnings Grow on Account of Improvement in PVC-Ethylene Core Delta
Engro Polymer and Chemicals Limited (EPCL) held its analyst briefing yesterday where management discussed EPCL’s result for 3QCY18. The company announced earnings of PKR 1,083m (EPS: PKR1.19) for 3QCY18 as compared to PKR 900m (EPS: PKR 0.99) in the same period last year (SPLY) depicting a growth of 20.42% YoY due to i) improvement in PVC-ethylene Core Delta, ii) increase in other income, iii) PKR depreciation against USD, and iv) decline in finance cost. During the quarter under review, the demand for caustic soda in the domestic market remained stable which helped the company to maintain its market share.
Engro Polymer & Chemicals Limited is a chlor vinyl chemical company. The principal activity of the Company is to produce and market chlor-vinyl products, which include poly vinyl chloride (PVC), vinyl chloride monomer (VCM), caustic soda, hydrochloric acid and sodium hypochlorite. The Company operates through three segments: poly vinyl chloride (PVC) and allied chemicals, caustic soda and allied chemicals, and power supplies. The poly vinyl chloride (PVC) and allied chemicals segment manufactures and sells PVC and allied chemicals to various industrial customers, including pipe manufacturers, shoe and packaging industry. The caustic soda and allied chemicals segment manufactures and sells caustic soda and allied chemicals to textile and soap industry. The power supplies segment supplies surplus power generated from its power plants to Engro Fertilizers Limited. The Company manufactures and markets over four grades of PVC under the brand name SABZ.
Ismail Iqbal Securities (Private) Limited (IISPL) is a TREC holder of the Pakistan Stock Exchange, as well as an SECP registered Underwriter and Book Runner. IISPL provides comprehensive financial services including Equity Sales, Research on Equities and the Macro-Economy, Investment Advisory, Portfolio Management, Corporate Finance, and extensive services for Private Equity investors. IISPL services a diversified client base, from Institutional to Retail Investors including High Net worth Individuals.
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