External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

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Equity Bottom-Up

<ul>
<li>We revise up our earnings for Engro Corporation (ENGRO) by 20% for 2019 to Rs35/share (earlier Rs29/share) as Engro’s 660MW Power Plant (EPTL) is expected to commence operations by Jun 2019 (earlier Jan 2020). While, early commencement of power plant (in Jan 2019) can’t be ruled out as reportedly its power plant is connected to national grid and transmission line is also tested. In case if transmission of power starts earlier in Jan 2019, then our 2019 EPS would be Rs40/share.</li>
<li>To note, market…</li>
</ul>


We revise up our earnings for Engro Corporation (ENGRO) by 20% for 2019 to Rs35/share (earlier Rs29/share) as Engro’s 660MW Power Plant (EPTL) is expected to commence operations by Jun 2019 (earlier Jan 2020). While, early commencement of power plant (in Jan 2019) can’t be ruled out as reportedly its power plant is connected to national grid and transmission line is also tested. In case if transmission of power starts earlier in Jan 2019, then our 2019 EPS would be Rs40/share.
To note, market…


Engro Corporation (ENGRO): Earnings Revised Up, ‘BUY’ Maintained

Pakistan

Engro Corporation Ltd. manufactures and markets fertilizers and plastics; generates electricity; and processes food.  The Company produces nitrogenous, phosphatic and blended fertilizers; polyvinyl chloride resin; and industrial automation products; develops electricity generating plants; produces dairy foods; and operates a liquefied petroleum gas and liquid chemical terminal.

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52-week Range	0.00 - 0.00
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Engro Corporation (ENGRO PA)

Engro Corporation (ENGRO): Earnings Revised Up, ‘BUY’ Maintained

We revise up our earnings for Engro Corporation (ENGRO) by 20% for 2019 to Rs35/share (earlier Rs29/share) as Engro’s 660MW Power Plant (EPTL) is...

Topline Securities

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