Fauji Fertilizer Company (FFC) announced its year-end financial results, revealing a 45.82% increase in sales, a 60.44% rise in gross profit, and a 48% growth in net profits for 2023 compared to 2022.
According to a notice sent to the Pakistan Stock Exchange (PSX), the company’s board recommended a cash dividend of Rs 4.10 per share for the year ending December 31, 2023 – providing shareholders with a return rate of 41% on their invested money.
This cash dividend is in addition to the interim dividend of Rs 11.39, already paid.
| Non-Consolidated Financial Results | |||
| All Values in Rs Billion | 2022 | 2023 | Percentage Changes |
| Sales | 109.36 | 159.47 | 45.82% |
| Gross Profit | 40.05 | 64.25 | 60.44% |
| Profit for the Year | 20.05 | 29.67 | 48.00% |
The company’s urea production reached an outstanding 2521 thousand tonnes in 2023 compared to the previous year. The profit for the year, totaling Rs 29.67 billion, includes Rs 17.1 billion of other income.
Gas shortages have affected throughout the year, impacting not only its production but also exacerbating challenges for the farmers due to higher prices of Urea.
Recent media reports suggest that the farming community of Pakistan is grappling with persistent challenges surrounding the availability of urea, worsening concerns as delays in distribution persist.
Fauji Fertilizer Company Limited is a public company incorporated in Pakistan under the Companies Act, 1913, (now the Companies Act, 2017).
The company’s principal activity is manufacturing, purchasing, and marketing fertilisers and chemicals, including investment in other fertiliSer, chemical, cement, energy generation, food processing and banking operations.
