Fertilizer: FFC & EFERT: Volume led EPS growth expected in 4Q – By JS Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We present 4QCY24 earnings estimates for Fauji Fertilizer Company Limited (FFC) and Engro Fertilizers Limited (EFERT), where we expect FFC to report EPS of Rs17.6 post-merger with Fauji Fertilizer Bin Qasim Limited (FFBL), while EFERT is likely to post an EPS of Rs8.4 for the quarter.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Alongside the result, we also expect FFC to announce a cash dividend of Rs24.5/share (2HCY24E DPS), resuming the payout post amalgamation of FFBL into FFC. To recall, FFC did not announce any cash dividend during 3QCY24 to ensure equitable distribution of dividends post-merger. Cumulatively, dividend payout during CY24 is likely to hover around Rs40/share.</span></li></...