Engro Holdings Ltd. (ENGROH): 4QCY24 Preview: Payout to remain higher despite 21%YoY decline in profitability - By AKD Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">4QCY24E, down 21%YoY. We expect company to announce final dividend of PkR5.0/sh.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Decline of 8%/40%YoY in fertilizer and polymer businesses is expected to drive the overall earnings drop.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">CY24 cumulative profitability is anticipated at PkR18.9bn (EPS: PkR15.7), down 7%YoY. We maintain our &rsquo;BUY&rsquo; stance on ENGROH with Dec&rsquo;25 TP of PkR301/sh.</span> </li></ul>