Engro Fertilizers Ltd. (EFERT): Prospects to improve; CY25 DY intact at 13% - By JS Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Engro Fertilizers Ltd. (EFERT) held its corporate briefing session recently, highlighting CY24 results and outlook. The company reported earnings of Rs28bn (+8% YoY), translating into an EPS of Rs21.2 for CY24. Alongside the results, EFERT announced a cash dividend of Rs8/sh, bringing the total annual dividend to Rs 21.5/sh, (payout ratio of 102%).</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Management highlighted that the reason for elevated selling expenses was an accounting reclassification of around Rs2bn. This improved gross margins in 4QCY24 while increasing selling expenses, increase in holding costs amid inventory pile-ups also contributed to the same.</span></li></ul><ul><li><span style=...