External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul>
<li>Engro Fertilizers (EFERT) reported a consolidated quarterly profit of Rs2.9bn (EPS: Rs2.17), marking a 63% decrease YoY but exceeded expectations due to higher-than-expected gross margins.</li>
<li>The company declared a cash dividend of Rs2.25/share, aligning with market expectations, and achieved gross margins of 35% in 1Q2025, attributed to the absence of costly imported urea and stable gas prices.</li>
<li>Significant declines were observed in net sales and other income, while finance cost saw a substantial increase due to short-term borrowings.</li>
</ul>


Engro Fertilizers (EFERT) reported a consolidated quarterly profit of Rs2.9bn (EPS: Rs2.17), marking a 63% decrease YoY but exceeded expectations due to higher-than-expected gross margins.
The company declared a cash dividend of Rs2.25/share, aligning with market expectations, and achieved gross margins of 35% in 1Q2025, attributed to the absence of costly imported urea and stable gas prices.
Significant declines were observed in net sales and other income, while finance cost saw a substantial increase due to short-term borrowings.


Engro Fertilizers (EFERT): 1Q2025 EPS at Rs2.17, down 63% YoY (earnings higher than expectations)