Engro Polymer & Chemicals Ltd. (EPCL) announced its 2QCY26 financial results, wherein the company reported profitability of PkR1.3bn (EPS: PkR1.0) compared to a loss of PkR2.4bn (LPS: PkR2.6) in SPLY. Notably, the bottom line remained positive for the second consecutive quarter, primarily driven by higher other income from remeasurement gains on the SIDC provision, tax reversal, and improved core-delta margins. The result came in above our expectations due to tax reversal.

• The company’s revenue decreased by 14% YoY to PKR 17.1 bn, due to lower offtakes amid rising prices and a 21-day maintenance shutdown.
• Gross margins improved to 11.9% during the quarter from 0.2% in SPLY, mainly due to 27%YoY increase in avg PVC-Ethylene core margins to US$349/ton.
• Operating expenses declined by 9%YoY to PkR1.3bn from PkR1.4bn in SPLY.

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EPCL 2QCY26 Result Review — Profitability came in on one-off gains (AKD Off the Analyst’s Desk Aug 17, 2026)

Courtesy: AKD Research