<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">In 1HCY18, EFERT posted PAT of Rs7.1bn (EPS of Rs5.3) vs.
PAT 4.1bn (EPS of 3.07) in SPLY, this earning was accompanied by DPS of Rs4.
Increase in profitability emanated from improve selling prices and volumes.
Price increase was due to elimination of subsidy and inflation pass on to end
consumers. High sales volumes during 1HCH18 were due to anticipation of
fertilizer price hike in 2HFCY18. Urea and DAP sales clocked in at 994KT and 174KT
up by 25% and 83% YoY respectively. Finance cost came in at 0.886nn vs. 1.309bn
in SPLY due to loan repayment and lower working capital requirement. One time
tax credit of Rs1bn was booked in 2QCY18 due to reduction in tax rate in phases
from 30% in FY17 to 25% in FY22. Going forward, water shortage and price
incr...
