External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Engro Corporation (ENGRO) conducted its 2023 Corporate Briefing Session today where management discussed financial performance and future outlook.</li><li>ENGRO booked a remeasurement loss of Rs30bn (owner's share Rs13bn) on its consolidated accounts in 2023 due to a higher value of thermal assets compared to the recoverable amount. This loss does not have a cash flow impact. Additionally, a gain will be recognized in the standalone accounts upon completion of the realization of this transaction.</li><li>As per management, based on ongoing discussions with the buyer, the transaction will now proceed through the Sell Purchase Agreement (SPA) mode for selling thermal assets, rather than the earlier scheme of arrangement. All regulatory requirements will still need to be fulfilled to complete the transaction.</li></ul><p><em>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.</em></p>

Engro Corporation (ENGRO) conducted its 2023 Corporate Briefing Session today where management discussed financial performance and future outlook.ENGRO booked a remeasurement loss of Rs30bn (owner's share Rs13bn) on its consolidated accounts in 2023 due to a higher value of thermal assets compared to the recoverable amount. This loss does not have a cash flow impact. Additionally, a gain will be recognized in the standalone accounts upon completion of the realization of this transaction.As per management, based on ongoing discussions with the buyer, the transaction will now proceed through the Sell Purchase Agreement (SPA) mode for selling thermal assets, rather than the earlier scheme of arrangement. All regulatory requirements will still need to be fulfilled to complete the transaction.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: Engro Corporation Limited (ENGRO): Corporate Briefing Key Takeaways