Engro Polymer & Chemicals Limited (EPCL): EPCL 3QFY20 Result Review – Credit goes to Sally – By Darson Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Engro Polymer &amp; Chemical Limited (EPCL) reported a profit of Rs1,868mn (EPS 2.06) higher than our estimated EPS 1.57. The company`s 9MCY20 profits increased to Rs2,048mn translating into EPS of 2.25.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Company`s net sales increased by 9% in 3MCY20. The major could be the company`s improved core-delta as the prices in international market of PVC has seen a robust jump recently which has given an opportunity to the company to recover its profits from the last quarters.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Gross margin have also seen a drastic improved and have flown to 32%, compared to 24% in SPLY owing to better mar...