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) announced its 1Q2026 financial result today, wherein the company recorded consolidated quarterly profit of Rs3.3bn (EPS: Rs2.48), up by 14% YoY and down 60% QoQ.</li><li>Net sales of the company increased by 25% YoY to Rs37.8bn in 1Q2026.</li><li>Gross margins stood at 31.0% in 1Q2026, below our expectation of 32.8%.</li></ul>

Engro Fertilizers (EFERT) announced its 1Q2026 financial result today, wherein the company recorded consolidated quarterly profit of Rs3.3bn (EPS: Rs2.48), up by 14% YoY and down 60% QoQ.Net sales of the company increased by 25% YoY to Rs37.8bn in 1Q2026.Gross margins stood at 31.0% in 1Q2026, below our expectation of 32.8%.

Engro Fertilizers (EFERT): 1Q2026 EPS at Rs2.48, Up 14% YoY (Earnings Lower Than Industry Expectations)