FFC accredits increased urea prices, DAP market share for its outstanding performance

MG News | August 08, 2019 at 05:35 PM GMT+05:00

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August 8, 2019: The Fauji Fertilizer Company Limited (FFC) held its analyst briefing today, wherein it discussed and highlighted the key factors that contributed in the company’s outstanding financial performance for the year ended June 30, 2019.

The company, via a conference call, informed that the performance was mainly driven by the increase in market share of DAP, increase in Urea prices as well as dividend from AKBL and PMP.

Moreover, it shed some light on its diversification plans and projects including wind energy carried under FFC, coal based power plant in Thar, investment in AKBL and PMP, and investment in Fauji Fresh n Freez.

The topic of GIDC resolution also came up during the discussion, wherein the company said that multiple scenarios were emerging from Government’s side.

With regards to the industry dynamics, FFC informed that the current demand of fertilizers was not being met, and the alternative of imports was necessary. The company also revealed that it was planning to offload it’s DAP demand in the second half of CY19 to meet demand emanating from wheat cultivation.

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