You are currently viewing EFERT to announce a cash dividend of PKR 7.00/share (PKR 19.50/share in CY23.

EFERT to announce a cash dividend of PKR 7.00/share (PKR 19.50/share in CY23.

The management of Engro Fertilizer Limited (EFERT) is expected to announce financial results for CY23 on 15th Feb’24, where we expect the net profit to arrive at PKR 24,782mn (EPS: PKR 18.56), swelling up by 55% YoY. The bottom-line surge comes from 20% and 6% YoY growth in urea and DAP offtake along with a jump in urea prices. On a quarterly basis, the profitability is expected to settle at PKR 15,963mn (EPS: PKR 7.29), depicting a hefty jump of 3x YoY, which is mainly attributable to a massive surge in urea and DAP sales of 45% and 15% YoY, respectively followed by a hike in urea prices. Gross margins are forecasted to settle at 28.15% in 4QCY23 vis-à-vis 22.85% in SPLY, owing to higher sales volumes of urea.

Furthermore, finance costs are estimated to decline by 47% YoY due to a decrease in short-term borrowings. Other income is anticipated to climb up by 50% YoY, owed to higher income from cash and cash balances. Alongside the result, we expect the company to announce a cash dividend of PKR 7.00/share (PKR 19.50/share in CY23. Courtesy – AHL Research

Author

Sharing is caring

Leave a Reply