Author Topic: FFC -- Fauji Fertilizer Company Ltd  (Read 684461 times)

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Online aatradekhi

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Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2759 on: January 31, 2019, 01:08:58 PM »
YEARLY EPS
UNCONSOLIDATED
LATEST 11.35
OLD 8.42

CONSOLIDATED
LATEST 12.92
OLD 9.04


Dividend Rs.3.90/-
Book Closure from
20-3-19
26-3-19

SELL IMPROVED

Pakinvestorsguide

Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2759 on: January 31, 2019, 01:08:58 PM »

aharoon

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Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2760 on: February 08, 2019, 09:28:48 AM »
Strong buy for 6 months
Tgt. Price 150+

Offline stuka

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Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2761 on: February 08, 2019, 09:57:24 AM »
Strong buy for 6 months
Tgt. Price 150+

why you are making us hate every stock???
FASM, EFERT, NCL, DOL, TGL, SEPL

aharoon

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Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2762 on: February 08, 2019, 03:55:27 PM »
 strong  behaviour show Kar raha hai :skeptic:

aharoon

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Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2763 on: February 09, 2019, 03:58:45 PM »
Strong buy for 6 months
Tgt. Price 150+
Sooch raha Hun FFC Ready main apni position ko mazeed strong karun ...  IK Govt Kay charge lainay se ab takk during six months FFC ka rate nahin roota balkay Friday ko tou FFC nay aik new high banaya taqreban 110rs ..jabkay market par kitnay Tsunami aai magar FFC stable raha.. sales bhi increase hue Hain FFC ke ..
Isko rakhun ga for 6-12 months inshaAllah 150+ tou hoga hee hoga.. :skeptic: other hand Dividend driven item hai iss liay isko adopt karna para tab bhi koe fikar nahin koe tension nahin

aharoon

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Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2764 on: March 15, 2019, 12:21:56 PM »
Strong buy for 6 months
Tgt. Price 150+
Sooch raha Hun FFC Ready main apni position ko mazeed strong karun ...  IK Govt Kay charge lainay se ab takk during six months FFC ka rate nahin roota balkay Friday ko tou FFC nay aik new high banaya taqreban 110rs ..jabkay market par kitnay Tsunami aai magar FFC stable raha.. sales bhi increase hue Hain FFC ke ..
Isko rakhun ga for 6-12 months inshaAllah 150+ tou hoga hee hoga.. :skeptic: other hand Dividend driven item hai iss liay isko adopt karna para tab bhi koe fikar nahin koe tension nahin
What a strong behaviour what a strong .....
Market sett hoojai phir yeh Wasim Akram Plus niklay ga  :good :good

aharoon

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Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2765 on: March 18, 2019, 09:57:38 AM »
Bara Foujiiii We Loveeeeee Youuuu  :shoaby: :shoaby: :shoaby:

Offline Farzooq

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Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2766 on: April 08, 2019, 01:12:10 PM »
FFC: Recent price increase to fuel the bottom-line; Target price raised to PKR
109/share
The company witnessed +35%YoY growth in its earnings to PKR 14.4bn (EPS: PKR
11.35) in CY18 on the back of high urea offtake and sustained DAP sales. In addition,
decrease in finance cost by 34%YoY also kept profitably during the year floated.
Moreover, support to the earnings also came from dividend contribution from its
associates and subsidiaries to the tune of PKR 1.25bn down by 45%YoY, owing to nil
dividend from AKBL. The company also declared cash dividend of PKR 8.85/share as
against PKR 7.00/share dividend announced last year.
Earnings forecast revised: We have revised our earnings estimated upwards by
+8%/17% to PKR (11.9/13.1)/share for CY19/CY20. Major accretion to our estimates
stems from recent increase in urea prices by PKR (80/bag) while keeping our total offtake
assumption intact at 2.8mn tons. Moreover, we expect dividend contribution from
diversified business to cushion up profitability by PKR ~2.0bn, arresting the impact of
high finance cost during the year, CY18.
Valuation: We have raised our target price by +9% to PKR 109/share implying an upside
of +7% from its last closing with a “HOLD” call. The company is currently trading at
P/E of 8.9x and offers a dividend yield of 9.0%.
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Offline Farzooq

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Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2767 on: April 10, 2019, 01:56:21 PM »
FFC expected to outshine peers with 68% rise in profits: Market leader FFC is forecasted to
post unconsolidated EPS of PKR3.0, up 68% YoY. FFC’s profitability would be helped
primarily by 30% higher urea prices that would offset impact of 80% and 3% YoY
contraction in DAP and urea offtake, respectively. Other income of the company is
forecasted to reduce 18% YoY owing to cessation of cash subsidy scheme that would mask
higher dividend income from portfolio companies and profit earned on cash and
investments. Along with the result we expect FFC to announce cash dividend of PKR2.25
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Offline Farzooq

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Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2768 on: April 25, 2019, 02:07:22 PM »
FFC: 1QCY19 earnings expected to jump up by 40% YoY

Fauji Fertilizer Company Limited (FFC) is scheduled to announce its 1QCY19 financial result on April 26th, 2019. We expect the company to post a profit after tax of PKR 3,161mn (EPS: PKR 2.48), up by 40% YoY as compared to PKR 2,265mn (EPS: PKR 1.78) recorded during same period of last year. This growth is expected mainly on account of higher urea prices during the quarter signaling at a significant uptick in gross margins (up by 10ppt YoY). Topline is expected to remain stagnant despite 2% YoY and 79% YoY decline in urea and DAP offtake, respectively amid significant increase in urea and DAP prices (urea prices +28% YoY, DAP +21% YoY). Other income is expected to drop by 18% YoY on account of absence of urea subsidy during the period under review. While financial charges are projected to surge by 165% YoY as company’s interest bearing debt jumped up by 31% YoY along with higher interest rates. The company is expected to announce an interim cash dividend of PKR 2.00/share for the period (1QCY18: PKR 1.75/share).

 
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Offline MAR

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Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2769 on: April 27, 2019, 01:43:54 AM »
FFC: 1QCY19 earnings expected to jump up by 40% YoY

EPS  2.91
DIV  2.50

Offline Farzooq

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Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2770 on: April 27, 2019, 10:19:34 AM »
FFC announced in-line EPS of PKR2.91; DPS at PKR2.5

Fauji Fertilizer Company (FCC) reported financial results for 1QCY19 wherein the company posted in-line EPS of PKR2.91 (BMA estimate: PKR2.99), up 63% YoY.
Along with the result, FFC announced PKR2.5 as first interim dividend, slightly above our expectation.

Net sales of the company dropped 1% YoY to PKR20.3bn mainly as a result of 3% YoY decline in urea offtake and 80% YoY contraction in DAP offtake. This was partially offset by 28% and 22% YoY increase in urea and DAP prices, respectively.

Gross profits of the company rose 46% YoY on the back of rising fertilizer prices that offset the impact of 50/30% YoY increase in feedstock/fuelstock gas cost.

Distribution expenses rose by 4% YoY due to combined effect of rising transportation costs and 15% YoY compression total fertilizer sales.

Other income of the company dropped 4% YoY on the back of suspension of cash subsidy scheme, that was partially offset by higher income on deposits and investments.

Finance costs of the company expanded 24% YoY to PKR469mn as a consequence of rising interest rates in the country.

In light of emergent clarity on sustainability of recent PKR80/bag increase in urea prices (posing upside risk to our estimates), we place FFC ‘Under Review’.
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Offline Farzooq

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Re: FFC -- Fauji Fertilizer Company Ltd
« Reply #2771 on: May 02, 2019, 12:55:47 PM »
Fauji Fertilizer Company Limited: Well placed to benefit from robust sector dynamics; maintain Buy

We revise up our earnings estimates for FFC by 6-10% incorporating (i) recent increase in urea prices (PKR80/bag), (ii) downward revision in DAP sales and margins, and (iii) actual 1Q19 accounts.
We now foresee FFC to post EPS of PKR13.4/14.3/14.5 in CY19/20/21E. Accordingly we arrive at our revised SoTP based TP of PKR117/sh for FFC, offering 12% upside.
Cut in GIDC and subsequent reduction in urea prices remains a downside risk to our estimates. Incorporating a 50% cut in GIDC and PKR200/bag contraction in urea prices from Jul’19, our recurring earnings for FFC face attrition of 4-5% (annualized basis).
In recent weeks, news of another gas tariff hike has picked up. Though we believe that the industry has sufficient buffer to increase urea prices (discount to int’l urea prices stands at 23%), govt. efforts to restrict any increase in urea prices cannot be ruled out. 
We maintain our Buy rating on FFC and our conviction on the scrip is underpinned by its (i) compelling valuations, (ii) high D/Y (12%), and (iii) healthy balance sheet position in a rising interest rates environment.
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