Skip to main content

Fauji Fertilizer Bin Qasim; First Quarter EPS Rs. 3.33

For the first quarte ending March 2024, Fauji Fertilizer Bin Qasim Limited (FFBL) reported a profit after tax of Rs. 4,306 million, compared to a loss after tax of Rs. 5,429 over the same quarter last year. The earnings per share came out at Rs. 3.33 for the quarter. FFBL did not announce any cash dividends along with the results announcement.

The gross profit margin in this quarter was 19%, compared to 7% in the same quarter last year. And the tax rate for the quarter was 47%.

Revenue of FFBL, in this quarter, increased almost one and a half times, gross profit increased by over three times, and financial charges halved, compared to same quarter last year. This turned a loss of Rs. 5.4 billion last year to a PAT of 4.3 billion this quarter.

In the same quarter last year, FFBL recorded a significant exchange loss of over Rs. 4.6 billion, whereas this quarter saw a negligible amount in comparison. Furthermore, FFBL's other income for this quarter exceeded Rs. 4 billion, a stark contrast to the less than Rs. 1 billion reported last year. The bottom line of FFBL's profit and loss account has been experiencing substantial variation due to exchange losses/gains and other income.

Comparing the latest quarter with the immediate preceding quarter ending December 2023, revenue and gross profit paint a different picture; revenue  decreased by 17%, gross profit almost halved, and financial charges decreased by 10% compared to the same quarter last year. In December 2023 quarter the gross margin of FFBL was 29% that has seen a substantial drop to 19% in this quarter. 

See Our Valuation Note on FFBL


FFBL is trading at a market price of Rs. 33.7. In the last 52 weeks, the FFBL stock reached a high of Rs. 37.5 and touched a low of Rs. 10.8.

FFBL has a price-earnings ratio of 3.1 and a price-to-book ratio of 1.6. It has a dividend yield of 3.0% on a twelve-month trailing basis.

Over the past 6 months, FFBL returns have been 77%, compared to the 32% return of the KSE100 Index. And over the past year, FFBL returns have been 180%, compared to the 78% return of the KSE100 Index.

The market cap of  FFBL Rs. 43,489 million.

FFBL has a 0.66% weighting in KSE100 Index.

FFBL Results Announcement, March 2024




Labels:

Popular posts from this blog

 A Snapshot of Exchange Traded Funds at PSX
Read more

Brent Crude Logs Biggest Weekly Drop Since September on Weak Demand, Easing Tensions

Oil prices were under pressure this week. Brent crude oil futures fell 1.9% to $73 per barrel on Friday, registering the biggest weekly loss since early September, with prices dropping over 7%. The decline was attributed to weaker demand forecasts from OPEC and the International Energy Agency (IEA), slowing economic growth in China, and signs of easing geopolitical tensions in the Middle East. Both OPEC and the IEA revised down their demand forecasts for 2024 and 2025. China's refinery output declined for the sixth consecutive month, impacted by weak fuel demand and the growing adoption of electric vehicles (EVs). Meanwhile, U.S. crude oil production reached a new record last week. Although a drawdown in U.S. crude inventories and stronger-than-expected retail sales in September provided some support to oil prices, easing concerns about a broader conflict in the Middle East exerted additional downward pressure on the market.
Read more

PSX Strongly Rebounds

The Pakistan Stock Exchange (PSX) reacted positively to the conclusion of the IMF staff-level agreement and has now recovered a substantial part of the losses sustained on Monday. Today, out of the 1,139-point gain in the KSE-100 Index, around 800 points were contributed by UBL, OGDC, PPL, and Meezan Bank.
Read more