ENGRO FERTILIZERS LIMITED The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road Karachi
April 19, 2022
Dear Sir/Madam,
ANNOUNCEMENT OF FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2022
We would like to inform you that the Board of Directors of Engro Fertilizers Limited ("the Company") in their meeting held on April 19, 2022 at 10:30 a.m. at Karachi, reviewed and approved the un-audited financial results of the Company for the first quarter ended March 31, 2022, and recommended the following:
(i) CASH DIVIDEND
An interim Cash Dividend for the first quarter ended March 31, 2022 at Rs. 5.50 per share i.e. 55%.
(ii) BONUS SHARES
NIL
(iii) RIGHT SHARES NIL
(iv) ANY OTHER ENTITLEMENT / CORPORATE ACTION NIL
(v) ANY OTHER PRICE-SENSITIVE INFORMATION
The quarterly financial results are attached as Annexure "A" & "B".
The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on Thursday, April 28, 2022.
BOOK CLOSURE DATES
The Share Transfer Books of the Company will be closed from Friday, April 29, 2022 to Monday, May 2, 2022 (both days inclusive). The transfers received in order at the office of the Company's share registrar,
M/s. FAMCO Associates (Private) Limited, 8-F, near hotel Faran, Block 6, PECHS, Shahra-e-Faisal, Karachi PABX Nos. (92-21) 34380101-5 and emailinfo.shares@famco.com.pk by the close of business (3:00 p.m.) on Thursday, April 28, 2022 will be treated in time for the purposes of payment of an interim cash dividend to the transferees.
The Quarterly Report of the Company for the period ended March 31, 2022 will be transmitted through PUCARS separately, within the specified time and shall also be made available on our websitewww.engrofertilizers.com.
Yours faithfully,
For and on behalf of Engro Fertilizers Limited
Cc:The Director (Enforcement)
Securities & Exchange Commission of Pakistan NIC Building, 63 Jinnah Avenue, Blue Area Islamabad
Annexure A
CONSOLIDATED CONDENSED INTERIM STATEMENT OF
PROFIT OR LOSS (UNAUDITED)
FOR THE QUARTER ENDED MARCH 31, 2022
(Amounts in thousand except for earnings per share)
Quarter ended
Net sales | 36,813,078 | 29,443,723 |
Cost of sales | (25,952,101) | (17,885,979) |
Gross profit | 10,860,977 | 11,557,744 |
Selling and distribution expenses | (2,015,241) | (1,827,495) |
Administrative expenses | (449,070) | (411,516) |
8,396,666 | 9,318,733 | |
Other income | 511,284 | 479,069 |
Other operating expenses | (448,652) | (672,245) |
Finance cost | (474,733) | (269,092) |
Other losses: | ||
- Remeasurement loss on provision for GIDC | (226,128) | (297,056) |
- (Loss allowance) / unwinding of loss allowance | (85,578) | 100,784 |
on subsidy receivable from GoP | (311,706) | (196,272) |
Profit before taxation | 7,672,859 | 8,660,193 |
Taxation | (2,161,536) | (2,918,766) |
Profit for the period | 5,511,323 | 5,741,427 |
Earnings per share - basic and diluted | 4.13 | 4.30 |
----------------------------------Rupees----------------------------------
Annexure B
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UNAUDITED) FOR THE QUARTER ENDED MARCH 31, 2022
(Amounts in thousand except for earnings per share)
Net sales
Cost of sales
Quarter endedMarch 31, 2022
March 31, 2021
----------------------------------Rupees----------------------------------
24,332,349
(17,525,248)
22,944,114
(13,115,723)
Gross profit
Selling and distribution expenses
Administrative expenses
Other income
Other operating expenses
Finance cost
Other losses:
- Remeasurement loss on provision for GIDC
- (Loss allowance) / unwinding of loss allowance on subsidy receivable from GoP
Profit before taxation
Taxation
Profit for the period
6,807,101
(1,820,823)
9,828,391
(1,643,569)
(442,152)
(404,204)
4,544,126 7,780,618
2,545,579 2,321,729
(448,390) (672,244)
(501,493) (307,838)
(226,128) (297,056) (85,578)
(311,706) 5,828,116
(1,114,549)
100,784
(196,272) 8,925,993
(2,487,546)
4,713,567 6,438,447
Unappropriated profit brought forward 28,974,586 28,602,702
Final cash dividend for the year ended
December 31, 2021 @ Rs. 5.00 per shareFinal cash dividend for the year ended
December 31, 2020 @ Rs. 4.00 per share
(6,676,497)
-
-
(5,341,196)
Profit available for appropriation
Earnings per share - basic and diluted
27,011,656
29,699,953
3.53
4.82
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Disclaimer
Engro Fertilizers Ltd. published this content on 19 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 April 2022 08:33:06 UTC.
