ENGRO just announced their 2QCY23 results, posting a consolidated EPS of PkR11.03/sh vs. LPS of PkR0.97/sh in the SPLY. On a YoY basis, the company posted a 17.98% increase in revenue, due to higher top lines posted by all group entities. Total 1HCY23 EPS came in at PkR19.12/sh (↑48.56%YoY). Further, the company has announced a PkR2.0/sh dividend for 2QCY23, taking total 1HCY23 payout to PkR42.0/sh: Revenues increased due to higher top lines posted by EPQL (↑9.46%/28.78% QoQ/YoY), EPCL (↑5.92...
Engro Corporation (ENGRO) announced 3QCY22 consolidated NPAT of PKR8.2bn (EPS: PKR13.91) as compared with PKR6.1bn (EPS: PKR10.62) in SPLY, up 31% YoY. Higher other income and lower expenses majorly contributed to the jump in earnings. The result announcement was accompanied by a surprise interim cash dividend of PKR10.0/sh, which is in addition to PKR23.0/sh announced in 1HCY22. KEY RESULT HIGHLIGHTS FOR 3QCY22: * Despite the decline in revenue in the Fertilizer and Chemical businesses, ENG...
AKD Daily Technicals KSE-100: Faces a bullish session The index opened on a positive note and remained volatile throughout the last trading session. The local bourse posted an intraday high of 435pts, a low of 218pts and concluded with a gain of 301pts to settle at 43,027pts level. Currently the MACD is bearish since it is trading below its signal line. The MACD crossed below its signal line 11 trading sessions ago. Since the MACD crossed its moving average, the local bourse has decreased 6....
Engro Corporation (ENGRO) announced 2QCY21 consolidated NPAT of PKR8.72bn (EPS: PKR15.13) as compared with PKR5.74bn (EPS: PKR9.96) in SPLY, up 52% yoy and 5% qoq. The strong earnings growth of EFERT, EPCL and contribution from SECMC and Thar power plant (660MW) are majorly attributed. The result announcement was accompanied by an interim cash dividend of PKR7.0/sh, in addition to PKR12.0/sh announced in 1Q. KEY RESULT HIGHLIGHTS FOR 2QCY21: * Despite the decline in revenue of the Fertilizer...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Engro Corporation (ENGRO) announced 1QCY21 consolidated NPAT of PKR8.34bn (EPS: PKR14.47) as compared with PKR3.3bn (EPS: PKR5.76) in SPLY, up 151% yoy and 23% qoq. The strong rebound in earnings of EFERT, EPCL and contribution from SECMC and Thar power plant (660MW) are majorly attributed. Moreover, the share of income from associates has also increased by 3.0x yoy mainly on account of higher profitability from FrieslandCampina (Dairy business) and other related businesses. The result announ...
Three Directors at Engro Corporation Ltd bought 75,000 shares at between 304.820PKR and 305.120PKR. The significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directo...
Engro Corporation Ltd (ENGRO) posted a NPAT of PKR25.14bn for CY20 (EPS: PKR43.57), up 52% yoy from PKR16.50bn (EPS: PKR28.69) in CY19. The higher earnings of EPCL and the commencement of SECMC and Thar power plant (660MW) are majorly attributed for the overall increase in earnings. The share of income from associates also increased by 2.4x yoy mainly on account of higher profitability from the Food and Rice businesses. ENGRO also announced a cash dividend of PKR26.0/sh for CY20. KEY TAKEAWAY...
Engro Corporation Limited (ENGRO) announced its 3Q2020 financial result, where the company booked a consolidated profit (attributable to Owners of the Holding Company) of Rs9,286mn (EPS: Rs16.12) compared to Rs6,113mn (EPS: Rs10.61) in 3Q2019, up 52% YoY. It takes 9M2020 earnings to Rs18,345mn (EPS: Rs31.84), up by 42% YoY. Along with the result, the company announced a cash dividend of Rs10.0/share, taking cumulative dividend during 9M2020 to Rs24.0/share. The dividend announcement came in ...
ENGRO posted a NPAT of PKR5.74bn (EPS: PKR9.97) for 2QCY20 as compared to PKR2.79bn (EPS: PKR4.86) in SPLY, up 105% yoy. The strong rebound in earnings of EFERT and the commencement of SECMC and Thar power plant (660MW) are majorly attributed. The share of income from associates also increased by 3.1x yoy mainly on account of higher profitability from the food and rice businesses. This took 1HCY20 profitability to PKR9.06bn (EPS: PKR15.73), up 33% yoy. ENGRO also announced an interim cash div...
Engro Corporation (ENGRO) announced 2QCY20 consolidated NPAT of PKR5.74bn (EPS: PKR9.97) as compared to PKR2.79bn (EPS: PKR4.86) in SPLY, up 105%yoy. The strong rebound in earnings of EFERT and the commencement of SECMC and Thar power plant (660MW) are attributed majorly for the rise in earnings. Moreover, the share of income from associates has also increased by 3.1x yoy mainly on account of higher profitability from FrieslandCampina (dairy business). This takes the 1HCY20 profitability to P...
Engro Corporation Limited (ENGRO) announced its 2Q2020 financial result, where the company booked a consolidated profit of Rs5,742mn (EPS: Rs9.97) compared to Rs2,799mn (EPS: Rs4.86) in 2Q2019. It takes 1H2020 earnings to Rs9,059mn (EPS: Rs15.73), up by 33% YoY. Along with the result, the company announced a cash dividend of Rs8/share, taking cumulative dividend during 1H2020 to Rs14/share. Among the subsidiaries, Engro Fertilizer Limited (EFERT) earnings were up by 22% YoY to Rs3,886mn dur...
As per NFDC data, Urea offtake during June 2020 clocked in at c.1.16mn tons, up 81% yoy and 4.9x mom. On a cumulative basis, total Urea offtake in 1HCY20 fell 7% yoy to 2.7mn tons; where, the offtake of FFC, FFBL and EFERT increased by 72%, 84% and 2.9x yoy respectively. Combined market share of these producers has increased by 15ppt yoy to 96% in 1HCY20 from 81% in the same period last year (RLNG based producers were operating last year). During June 2020, producers were selling Urea at a pr...
The KSE-100 was flat in May 2020 (down 0.5% mom), taking CY20td decline to 17%. There were some positive triggers, including the partial lifting of lockdown conditions by the government and the SBP cutting the policy rate further by 100bps to 8%. However, both failed to lift market sentiment. Market activity fell 9% mom to c.US$46mn average daily traded value. FIPI outflow (US$40mn in May) continued for the fourth consecutive month since the onset of Covid-19 pandemic. International oil price...
The KSE-100 bounced back in April 2020, rising 17% mom, after a sharp 23% decline in March. The rally was led by (i) government decision to ease off lockdown conditions for certain industries, (ii) an emergency 200bps cut in the policy rate, bringing it to 9.0%, and (iii) a massive 62% slump yoy in global oil prices. MSCI World / EM indices were up 11.0%/ 9.0% mom. Market activity, however, came down by 11% mom to US$50mn average daily traded value. Foreign selling narrowed to US$69mn (vs US$...
* The KSE-100 lost nearly a quarter of its market cap, falling 23% in March 2020 (worst month since the 2008-09 crisis). The unprecedented pessimism was led by the unabated spread of coronavirus globally – where the MSCI World/EM indices were down 13%/17% mom – along with a countrywide lockdown in Pakistan. A 225bps cut in interest rates by the SBP could not appease the market sentiment. * Market activity, however, rose sharply by 37% mom to US$56mn average daily traded value. FIPI outflow ...
Engro Corporation Limited (ENGRO) held its analyst briefing yesterday to shed light on its financial results for CY19. The company’s earnings jumped by 30% YoY to PKR 28.69/sh in addition to a total dividend payout of PKR 24.00/sh. ENGRO’s 4Q earnings were lower than industry estimates due to several one-offs including FCEPL’s impairment, Vopak’s tax adjustment, SAP implementation costs, HR training and development costs, IFRS 16’s implementation, and project feasibility costs. These one-off...
In a major development for global oil markets, the biggest crude-processing facilities of Saudi Arabia were struck by drone attacks. This has reportedly pulled out about half of the country’s oil supply – 5.7mn barrels or 5% of global supply – from the market. This event materially alters the inflation and in turn interest rate outlook. There is also the risk that interest rates can rise further, even though SBP has maintained real interest rates above 2%. Given that higher oil prices ca...
ENGRO held its analyst briefing on 23 August 2019 to discuss the financial performance during 1HCY19. The profitability of the company was up by 13%yoy to PKR6.9bn (EPS: PKR11.93) during 1HCY19 as compared to PKR6.1bn (EPS: PKR10.57) during 1HCY18. The revenue grew by 20%yoy in 1HCY19 to PKR85.9bn, mainly on account of (i) higher realized urea prices, (ii) increase in PVC prices and (ii) volumetric growth in terminal businesses. The company announced a cash dividend of PKR8.0/sh in 2QCY19, takin...
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