Fauji Fertilizer Company Accounts/Stock Review

Introduction:

Fauji Fertilizer Company Limited is a public company incorporated in Pakistan and its shares are quoted on the Pakistan Stock Exchange. The registered office of the Company is situated at The Mall, Rawalpindi, Pakistan. The principal activity of the Company is manufacturing, purchasing and marketing of fertilizers and chemicals, including investment in other fertilizer, chemical, other manufacturing, energy generation and banking operations. Fauji foundation and State life Insurance Corporation of Pakistan is major share holder of this company.

Website:

www.ffc.com.pk

Strategic Investments:

	Marketability	No of shares	Equity held (%)	ExpFair-value
FFC Energy ltd	Unquoted	24.3 crore	100	2.4 Billion
Fauji Fresh n Freeze Ltd	Unquoted	9.3 crore	100	1 Billion
Fauji Cement Company	Quoted	9.3 crore	6.79	3 Billion
Fauji Fertilizer Bin Qasim	Quoted	46.5 crore	49.88	23.25 Billion
Askari Bank Limited	Quoted	54.3 crore	43.15	10.86 Billion
Pakistan Maroc Phosphore S.A., Morocco			12.5	0.7 Billion
Pakistan Investment Bonds				7.7 Billion

Income Profile:

Annual Income and Distribution:

Year Ending: DECEMBER                                                                                                             KSE Symbol: FFC
	2012	2013	2014	2015
EPS STANDALONE	16.38	15.83	14.28	13.18
EPS
No of Shares			127.2 crore	127.2 crore
Benefits	DIV 15.5 RS	DIV 15.35 RS	DIV 13.65 RS	DIV 11.87 RS

Rated Capacity and Actual Production:

Fauji Fertilizer Fertilizers
Design Capacity (Urea)	2048 KMT
2013	2408  KMT
2014	2403 KMT
KMT ‘1000 METRIC TONS’

Work-in-Progress:

The company has achieved significant in-house diversification of its business spreading across banking, food, fertilizers, cement, energy and others. Despite a declining trend in its income and dividends, the conglomerate is trying hard to achieve further economic success.

Stock Price View:

	Time Period	Maximum	Minimum	Average
Stock Price	JAN 13-JAN 16	157.52	101.43	120

Pakistan Refinery Ltd Stocks/Accounts Review

Introduction:

Pakistan Refinery Limited was incorporated in Pakistan as a public limited company in May 1960 and is quoted on Pakistan Stock Exchange. The registered office of the Company is at Korangi Creek Road, Karachi. The Company is engaged in the production and sale of petroleum products.

Website:

www.prl.com.pk

Major Shareholder:

An aggregate of more than 70% of the outsatanding shares of the company is held by following companies:

PAKISTAN STATE OIL COMPANY LIMITED

CHEVRON GLOBAL ENERGY INC

SHELL PETROLEUM CORPORATION

HASCOL PETROLEUM LIMITED

Income Profile:

Quarterly Income

Pakistan Refinery Ltd
	Total No of Shares: 29.4 crore                               KSE Symbol: PRL
	2016				2017
	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
EPS	-2.28	2.76
Eps Total Cumulative		0.69
Benefits	NIL	NIL

Annual Income and Distribution:

Year Ending: June                                              KSE Symbol: PRL
	2012	2013	2014	2015
EPS	-46.16	14.17	-24.68	-5.42
EPS
No of Shares	3.5 crore	3.5 crore	3.5 crore	21.8 crore
Benefits	NIL	DIV 2.85 RS	NIL	RIGHTS 800 % AT PAR

Work In Progress:

The Isomerisation Plant, which was commissioned in June 2015, became fully operational and resulted in increased production of Motor Gasoline. After successful commissioning of Isomerisation Plant, the Company is now looking forward to installation of Diesel Hydrodesulphurisation Unit (DHDS). The company is coping with the Free fall of crude oil prices, exchange rate volatility, and the Import parity pricing formula for High Speed Diesel.

Stock Price View:

PRL	Time Period	Maximum	Minimum	Average
Stock Price	Jan 2013-Jan 2016	194.88	30.37	98.98