FFBL: Profitability to climb up by 66% YoY during 3QCY21

Fauji Fertilizer Bin Qasim Limited (FFBL) is scheduled to announce the financial result for the period 9MCY21 on 25th Oct’21, where we expect the company to post a Profit after Tax of PKR 9,367mn (EPS: PKR 7.25) compared to a loss of PKR 901mn (LPS: PKR 0.70) in 9MCY20.

On quarterly basis, the bottom-line during 3QCY21 is expected to be PKR 5,491mn (EPS: PKR 4.25), up by a massive 66% YoY. This jump is owed to surge in urea and DAP prices by 7% and 72% YoY, respectively tagged with 20% YoY jump in urea offtake. Whereas, DAP offtake declined by 12% YoY. Gross margins are expected to be 20% during 3QCY21 compared to 16% in 3QCY20 given better DAP margins.

Furthermore, financial charges are projected to plunge by 20% YoY to PKR 649mn due to reduction in short term borrowings.

Other income is anticipated to swell up by 61% YoY, clocking-in at PKR 4,102mn, on account of gain on sale of Foundation Wind Energy I & II.

Courtesy – AHL Research

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