Engro Polymer & Chemicals Ltd. profits rise 212.95% to Rs. 2.049 billion

EPCL today reported financial results for the year ending December 31^st, 2017. The Fertilizer giant staged a fantastic recovery during the last year as it reported gross margins increasing by more than 54% to 6.065 billion. The company also reported a 21.34% increase during the year with total sales clocking in at Rs. 27.73 billion.

The results were mostly in line with the market expectations, EPCL also conducted de-bottlenecking of its existing PVC plant in December 2017 in an effort to capacity enhancement by 17,000 tons to 195,000 tons, to take advantage of robust local demand. The industry expectations expect a surge in company profits for coming quarters.

EPCL releases on the exchange show a very strong performance during the year ending December, 2017. Other Income by the company also surged by 551.59% to Rs. 132 million against Rs. 20.358 million last year.

Operating Profits surged by 86.51%, with Finance Costs going down by more than 11% during the year. With a significant improvement in margins, and other income the company reported a 212.95% increase in profits from Rs. 654 million last year to Rs. 2.049 billion during the period under review.

The company management reported a 212% increase in EPS to Rs. 3.09 vs. an EPS of Rs. 0.99 during year ending December, 2016.

Board of Directors at the company approved a final Cash Dividend for the year ended December 31, 2017 @ R.s.0.80 per share i.e 8%. This is in addition to interim Cash dividend already paid at Rs. 0.45 per share i.e 4.5%

Company release on Earnings Report can be accessed here.