- Company announced cash dividend of PKR 2.5 per share with the result.
- Company reported profitability of PKR 2,281 million in third quarter against profitability of PKR 3,119 million in the same period last year.
Karachi October 12 2022: Engro Polymer and Chemical Limited (EPCL), the sole PVC manufacturer in Pakistan, profitability drop 26.9 percent in third quarter of 2022, according to company’s filing to the exchange.
Company announced cash dividend of PKR 2.5 per share with the result.
Company reported profitability of PKR 2,281 million in third quarter against profitability of PKR 3,119 million in the same period last year.
Company sales decline 10.2 percent in the same period to PKR 16,904 million in a period from July to September 2022.
Share price of the company increased PKR 1.9 or 3.3 percent after the result announcement to close the day at PKR 59.0 at Pakistan Stock Exchange. However, the share price has corrected more than 30 percent on anticipation of fall in earnings since June 30th 2022, according to data provided by Pakistan Stock Exchange.
About The Company:
Engro Polymer and Chemicals Limited was incorporated in Pakistan in 1997 under the repealed Companies Ordinance, 1984 (now the Companies Act, 2017). The Company is a subsidiary of Engro Corporation Limited, which is a subsidiary of Dawood Hercules Corporation Limited. The Company’s principal activity is to manufacture, market and sell Poly Vinyl Chloride (PVC), Vinyl Chloride Monomer (VCM), Caustic soda and other related chemicals. The Company is also engaged in the supply of surplus power generated from its power plants to Engro Fertilizers Limited.
