FFC Q2 CY2026 – Key Takeaways for Investors
Here's the earnings release in a simple, logical flow:
- Demand remained strong despite a challenging environment. Geopolitical uncertainty kept energy and commodity markets volatile, but FFC maintained uninterrupted product availability and strong marketing efforts, resulting in higher urea sales in Q2 than in Q1 2026.
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Urea business continued to strengthen.
- Urea production increased 3% YoY to 1.262 million tonnes.
- Urea sales (offtake) rose 25% YoY to 1.404 million tonnes.
- FFC's urea market share increased to 56% from 48% a year ago.
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DAP business was mixed.
- DAP production declined 6% YoY to 369,000 tonnes, mainly due to gas curtailment and shortages of phosphoric acid.
- Despite this, DAP sales increased to 318,000 tonnes (from 288,000 tonnes), lifting DAP market share to 66% from 63%.
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Revenue and profitability improved.
- Product revenue increased from PKR 155 billion to PKR 200 billion, driven mainly by higher sales volumes.
- Better revenue, cost control, and PKR 28 billion in investment income helped lift net profit to PKR 41.8 billion.
- EPS increased to Rs 29.1 from Rs 27.0 in the corresponding period last year.
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Consolidated performance remained robust.
- Consolidated PAT reached PKR 42.4 billion, up 12% YoY, supported by stronger core profitability and steady contributions from subsidiaries and associated companies.
Bottom line: FFC delivered another solid quarter, with stronger urea demand, expanding market share, and higher profitability. While DAP production faced supply constraints, higher sales and disciplined cost management more than offset the impact. Investment income also provided a meaningful boost to earnings.
https://dps.psx.com.pk/download/document/280460.pdf
