External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Chemicals / Thematic (Sector/Industry)

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<li>Pakistan’s fertilizer sector started 2018 with robust profitability growth of 47% YoY due to  increase in urea sales volume by ~43% YoY to 1.2mn tons. DAP sales also recorded significant growth of 14% compared to last year, with volumes clocking in at 517k tons vs. 447k tons.</li>
<li>Higher urea sales is attributed to 1) continuation of subsidized prices in 1Q2018 at Rs1,400 per bag, 2) improved purchasing power of farmers amid better prices of rice and cotton crop (while, sugarcane payment to farmers…</li>
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Pakistan’s fertilizer sector started 2018 with robust profitability growth of 47% YoY due to  increase in urea sales volume by ~43% YoY to 1.2mn tons. DAP sales also recorded significant growth of 14% compared to last year, with volumes clocking in at 517k tons vs. 447k tons.
Higher urea sales is attributed to 1) continuation of subsidized prices in 1Q2018 at Rs1,400 per bag, 2) improved purchasing power of farmers amid better prices of rice and cotton crop (while, sugarcane payment to farmers…


Pakistan Fertilizer: Sector Earnings up by 47% YoY in 1Q2018