Earnings Report /

Fauji Fertilizer: 2QCY22 Review - Strong earnings and payout despite tax dent

  • Fauji Fertilizer Company Ltd (FFC) posted unconsolidated NPAT of PKR3.4bn (EPS: PKR2.64), down 7% YoY – an earnings beat

  • Higher gross margin, greater other income and lower finance cost led to the earnings beat. FFC announced DPS of PKR2.1

  • FFC posted a strong result despite the high tax cost. We reiterate our Buy stance (TP of PKR136/sh) on the scrip

Abdul Ghani Mianoor
Intermarket Securities
28 July 2022


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