External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Fauji Fertilizer Bin Qasim  / Equity Bottom-Up

<ul><li>1Q2023 was catastrophic for the company due to massive exchange loss. However, things started to improve in 2Q2023 which pushed management to take risk and keep producing DAP that led to massive offtake of DAP in 3Q2023 in the absence of DAP importers. DAP importers were reluctant to import considering volatile PKR movement and uncertain demand situation of DAP.</li><li>FFBL strategically sold Fauji Meat Limited (FML) to Fauji Foundation to get liquidity of Rs4.3bn and gain of Rs268mn in 3Q2023.</li><li>Early record sales helped the company to avert more borrowing and report better margins. The company does not expect to carry too much inventory at year-end and anticipates selling out in 4Q2023. FFBL is aiming to continue to production at full and produce around 300k tons of DAP in 4Q2023.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

1Q2023 was catastrophic for the company due to massive exchange loss. However, things started to improve in 2Q2023 which pushed management to take risk and keep producing DAP that led to massive offtake of DAP in 3Q2023 in the absence of DAP importers. DAP importers were reluctant to import considering volatile PKR movement and uncertain demand situation of DAP.FFBL strategically sold Fauji Meat Limited (FML) to Fauji Foundation to get liquidity of Rs4.3bn and gain of Rs268mn in 3Q2023.Early record sales helped the company to avert more borrowing and report better margins. The company does not expect to carry too much inventory at year-end and anticipates selling out in 4Q2023. FFBL is aiming to continue to production at full and produce around 300k tons of DAP in 4Q2023.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Topline Flash Note: Fauji Fertilizer Bin Qasim (FFBL): Corporate Briefing Key Takeaways

<ul><li>Fauji Fertilizer Bin Qasim (FFBL) announced its 3Q2023 financial result today, where the company recorded highest ever unconsolidated quarterly profit of Rs5.3bn (EPS: Rs4.11) vs loss of Rs1.7bn (LPS: Rs1.31) reported in same period last year.</li><li>It takes 9M2023 earnings to Rs354mn (EPS: Rs0.27) down 79% YoY.</li><li>The 3Q2023 result came higher-than-industry expectations due to lower than estimated effective tax rate.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Fauji Fertilizer Bin Qasim (FFBL) announced its 3Q2023 financial result today, where the company recorded highest ever unconsolidated quarterly profit of Rs5.3bn (EPS: Rs4.11) vs loss of Rs1.7bn (LPS: Rs1.31) reported in same period last year.It takes 9M2023 earnings to Rs354mn (EPS: Rs0.27) down 79% YoY.The 3Q2023 result came higher-than-industry expectations due to lower than estimated effective tax rate.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Fauji Fertilizer Bin Qasim (FFBL): Announced highest ever quarterly profit of Rs5.3bn in 3Q2023

Pakistan

Fauji Fertilizer Bin Qasim Limited manufactures, purchases, and markets fertilizers. The Company produces Granular Urea and DAP.  Fauji Fertilizer provides its products to farmers in Pakistan.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Fauji Fertilizer Bin Qasim (FFBL PA)

Topline Flash Note: Fauji Fertilizer Bin Qasim (FFBL): Corporate Briefing Key Takeaways

1Q2023 was catastrophic for the company due to massive exchange loss. However, things started to improve in 2Q2023 which pushed management to take...

Topline Securities

Fauji Fertilizer Bin Qasim (FFBL): Announced highest ever quarterly profit of Rs5.3bn in 3Q2023

Fauji Fertilizer Bin Qasim (FFBL) announced its 3Q2023 financial result today, where the company recorded highest ever unconsolidated quarterly...

Topline Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)