The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road Karachi
Dear Sir/Madam,
Engro Fertlllzere tJmited
6th Floor, Harbor Front Bulldlng Marlne Drlve, Blmk 4, Cllfton Karachl, Pakistan
T +9221 111 211 211
February 12, 2026
Subject: ANNOUNCEMENT OF FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2025
We would like to inform you that the Board ofDirectors ofEngro Fertilizers Limited ("the Company") in their meeting held on Wednesday, February 11, 2026 at Itarachi, reviewed and approved the audited financial results of the Company for the year ended December 31, 2025, and recommended the following:
CASH DIVIDEND
A Final Cash Dividend for the year ended December 31, 2025 at Rs. 4 per share i.e. 40%. This is in addition to Interim Cash Dividends already paid at Rs. 1.1 per share i.e. 110%.
BONUS SHARES OIL
RIGHT SHARES
ANY OTHER ENTITLEMENT / CORPORATE ACTION
NIL
ANY OTHER PRICE-SENSITIVE INFORMATION
The Annum financial results are attached as Annexure "A" & "B".
FINANCIAL PERFORMANCE
In 2025, the fertilizer sector operated under challenging conditions characterlzed by pressure on farmer economics, climate-related disruptions and uneven demand across hey nutrients. These factors resulted u heightened price sensitivity and slower market offtake for significant portion of the year.
During later part of the year Urea marl‹et recovered as a result of better water availability and vai ions government incentives for famiers. The Company iilaintained strong operational resilience and executed its market strategy effectivcly, securing its market share and delivering 14% increase in locally mantifactrned Urea sales volume as compared to last year.
Urea production increased by 6.6% as compai ed to last yeai- due to Company's continued locus on opei'ational discipline and reduced turnaround days in 2025.
Engro Fertilizers Limited
engro fertilizers
Engro Fertllizers Mmited
6th Floor, Harbor Front Bullding Marlne Drlve, Block 4, Clifton
IBM), @ gfBFl
T +9221 111 211 211
The Company posted a Consolidated Profit After Tax of PKR 22.6 Bn, colnpai ed to PIN 28.3 Bn in 2024, translating into an EPS of PKR 1.6.95,versus PIN 21.16 per share in the same period last year. The year-on-year decline in profitability was on account of recognition of a one-off'super tax charge of approx iiiiately PI(R 2 Bn and due to the discounts offered by the Company to maintain competitiveness and protect its market share. Moreover, phosphates market remained volatile resulting in subdued domestic demand, lower jmargins and market share for the Company.
The Company continued to play its role in supporting the national economy, contributing approximately PIN 35 Bn to the National Exchequer by way of taxes, duties, and levies. Furthermore, the Company enabled value addition in terms of savings in foreign exchange amounting to approximately USD 0.9 Bn tinougli import substitution.
ANNUAL GENERAL MEETING
The 17* Annual General Meeting of the Company will be held at Itarachi on Wednesday, March 25, 2026, at 02:30 p.m. (Pak Time).
The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on Monday, March 16, 2026.
BOOK CLOSURE DATES
The Share Transfer Books ofthe Company will be olosed from I tiesday, March 17, 2026 to Wednesday, March 25, 2026 (both days inclusive). 'the translers i'eceived in order at the office of the Company's share registrar, Mls. FAMCO Share Rcgistration Sen ices (Piivate) Limited, 8-F, near hotel Faran, Block 6, PECHS, S1iahra-e-Faisa1, Karachi PABX Nos. (92-21) 3438010 1-5 and email info.shares@famcosrs.com.pk by the close of business on Monday, March 16, 2026 will be treated in time for the purposes of payment of final cash dividend to the transferees and to attend and vote at the Annual General Meeting.
The Annual Report of the Company will be transmitted through PUCARS at least 21 days before holding oJ Annual General Meeting and shall also be made available on our website https://www.engrofertilizers.com.
'Yours faithfully,
For and on behalf of
EN ERT IZERS LIMITED
oinpany Secretary
Cc: The Director / HOD
Listed Companies Department, Supervision Division Securities & Exchange ComnJISSion of Pakistan
NIC Building, 63 Jinnali Averiue Blue Area Islamabad.
Engro Fertilizers Limited
ENGRO FERTILIZERS LlNIlTED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2026 | Annexure A-1 | ||||
{Amounts In thousand) | |||||
Note | 2026 | 20M | |||
----•----•--Rupeea-••-•--------- | |||||
ASSET9 | |||||
Property, plant and equipment | 4 | 02,391,260 | 63,137,431 | ||
Intangible assats | 4,7zs,ges | 5,007,651 | |||
Long-term investments | 4,348,915 | 4,268,249 | |||
19 | ,534,786 | ||||
Long-srm laans, edvanoes and deposils | 7 | 26,738 | 107.021 | ||
103.081.668 | 02,611.152 | ||||
Slorea, spares and loose tools | 8 | 0,151,070 | d,239,527 | ||
6teck-in-trade | 9 | 25.681,512 | is,729,059 | ||
Trade debts | 10 | 16.845,896 | g,253.231 | ||
Other receivables | 11 | 7,e34,87 | J1,995,66Y | ||
Loana, advances, deposits and prepayments | 12 | 3,669,419 | 4,504,998 | ||
Taxation - net | 8,689,083 | 0,007,395 | |||
oved lncoma | 147.159 | 272,080 | |||
Sholt-term investments | 13 | 16,012.850 | 3,660,852 | ||
Cash and benk balances | 14 | 8,d42,747 | 4.308,148 | ||
98,084,407 | 77.990,958 | ||||
TOTAL ASSET8 | 196,166,075 | 170,602,110 | |||
(Amounts ln thousand) | 2025 | 2024 | |
EQUITY & LIABILITIES | |||
Equity | |||
Glare capilal | 15 | 13,352,993 | 13,352.993 |
Reserves | |||
Share premlom | 16 | 3,364,904 | 3,384,904 |
Remeasuremen of poot employment benefits | 18 | (38.205) | (69,543 |
Unapproprlated profit | 16 | 28,047,546 | 30.790,190 |
31,394,245 | 34.105,551 | ||
TOTAL EQUITY | 44,747,238 | 47,458,544 | |
Borrowings | 17 | 29.445,959 | 16,701,703 |
Government grant | 18 | 342,634 | 514,3M |
Deferred taxation | 19 | 672,844 | |
Deferred liabilities | 20 | 34,464 | 247,520 |
26.823,057 | 20,130,422 | ||
Trade and other payables | 2 | 65,699,22 | |
Accrued interest / mark-up | 1,434,310 | ||
- borrowinge | 17 | 14,461,588 | 2,B34,018 |
- governmart grant | 18 | 171,721 | 202,737 |
- deferred liabilities | 20 | 102,437 | 62,546 |
Provisl0n for is lnfraatrucltJr0 Devel0pment C0Ss (GIDC) 22 | 16,558,031 | 19,M8,031 | |
Short-terr» borrowings 23 | 23.022,723 | 12,451,850 | |
Unclafmed dNidend | 145,770 | 82,307 | |
Current portion of:
TOTAL LMB1LFDES
TOTAL eouiw AND LIABILITIES
CONTINGENCIES AND COMMITMENTS
124,595,780 103,007,144 154,418,837 123,143,566
199,168,076 170,602,110
24
The annexed notes from 1 to 52 form an integral part of theee consolidated financial statements.
Muhemmod Imran IjaTiT
Chief FI «• ‹•i omc«
Ali Rathore
Chlaf Exeeuclve Officer
ENGRO FERTILIZERS Llt/IITED
CONSOLIDATED STATEMENT OF PROFIT OR LO9S FOR THE YEAR ENDED DECEMBER 31, 2025
(Amounts In thousand except for earnings per share)
Annexure A-2
2025 2024
Note ------------Rupees----------
Net eaes | es | 237.130,786 | 258,875,163 | |
2g | (164,577,790) | (184,751.315) | ||
72,552,9e8 | 71,923,848 | |||
Selling arid distribution expenses | 27 | (20,213,109) | (17,860,843) | |
Admlnlstrative expenses | 2g | (4,723,142) | (4,293,398) | |
47,616,745 | 46,669,607 | |||
Other Income | 29 | 2,650,165 | 2,625,210 | |
Other operating expenses | 30 | (4,589,867) | (4,519,408) | |
Finance cost | 31 | (6.170,739) | (4,128,579) | |
Gain on subsidy receivable from GoP | 32 | 624,715 | 1,203,088 | |
Prolit before taxation | 40.031,049 | 45, OSS.920 | ||
Taxalion | 33 | (17.403.OOS) | (16,e95,682) | |
22,628,044 | 28,260,238 | |||
16.95 | 21.16 |
The annexed noles from 1 to 52 form an integral part of these consolidated financial statements.
Muhammad lmran Khalil Chief F-lnancial Offlcer
Ali Rathore
Chief Executive OfficerAhcen Zafar Syed Chairmen
ENGRO FERTILIZERS LIMITED
CON6OLIDATED STATEMENT OF COMPREHENSIVE INQOME FOR THE YEAR ENDED DECEMBER 31, 2026
(Amounts In thousand)
Profit for the yeer
Other comprehensive Income:
Annexure A-2
22,628,044 28,260,238
Remeasurement of poet employment benefite obligations
T8x relating to rernaasurement of
past ernpk›yrnent benefits obllgatious
86.z.7
51,073
f20,08S
7,356
(2,886
31,338
4,487
Total compreheneTve Income for the year 22,659,362 28,264,725
The annexed notes from 1 to 52 form an integral part of these consolidated financial statements.
Muhemmed Imran Khelil ChieM Flnenalaf Ol¥ieer
Ahsan Zafar Cyed Chairman
ENORO FERTILIZERS MIYIITED
CON8OLIDATE0 8TATEI¥IENT OF CHANGES IU EQUITY
P•OR THE FAR EhIOEO DECEMBER 31, @26
Annexure A-4
CAPITAL
13,gb2,gg0
JO,7BD,{80
47,'T68,4*
Dlvidendg.
Flnal Z0Z4: Rs. 8.00 per share
- ma lieu zozs: ns. 4.zs +t›ae
3rd Trrtagm 2OZ5: la. 4.5 per bra
rinu zoza: Rs. e ger sfore
fat They 202a!la. 8 por e ara
And InWIm W4: R¥. 3 per the
sid i‹a»nm zoz+: Rs. z.s per scale
Tetei cemprehenelve Income Ibt the year end*d ended Der•mber 31, ¥0M
(#0,68Z,g06' | {T0@2@5' | |||
A00g,4Z4 | {3,004,424 | |||
‹s,e7s,ozr | ‹s,szsj›zr | |||
@,008 847' | tB,00B,847) |
(25.370.8A6) N5,370,66g)
13.352.B0g
3,208,8M 4t,P02,7S5(10.gB2,g9$' | I 0,882,395) | |||
(10.6gg,985' | t10,682,396) | |||
<,oos,ees | «,oos,eeej |
4,4B7 2B,260,238 28,264,7g5
na annexed netee from 1 io sz fo‹m an hlegral pan of Ihese oonseIIdaed finendel stalements.
MWammpd Tm/a Khetif
Chlef Flnenelal Oflleec
Ali ReThw
Ctlef Exeeuth'e Omcer
ENGRO FERTILIZERS LIMITED FOR THE YEAR ENDED DECENIBER 31, 2026 | Annexure A-5 | ||
(Amounts in thousand) | |||
Cash flows from operating actlvltfee | |||
Cesh generated from operations | 39 | 45,722,182 | 31.581,760 |
Retirement and other seMca benefits pald | (545,M6) | (354,035) | |
Taxes paid | (18,412,358) | (37,529,156) | |
Long-farm loans, advances and depoaia | 171,183 | 11,885 | |
income on deposits / other financial aseets received | 926,353 | 2,342,586 | |
Net caah generated from J (utlllieed in) operatlng activities | 27,802,002 | (3,e‹g,esoj | |
Caeh fiowe from lnveetlng activtIes | |||
Purchases of property, plant and equlpment and inBngiblea Proceeds from disposal of operating ascets Purchase of short-term end long-term Investments Proceeds from aale of short-term and Dng inV66tMenls | (14,444,087 1.658,538 (35.722,328 23.319,664 | (9,227,357 1.581,780 (88,945,624 10 ,001,485 | |
Disbursement of Dan la Parent Company Repayme•! seemed against Dan to Parent Company | (2.690,000 2, 90,000 | ||
Net cash (utllised in) I generated from lnvestlng activities | (25,188,102) | 6,410,293 | |
cash flows from flnanclng actlvltlea | |||
Proceeds ffom long-farm borrowine• | 17.5 | 24,000,000 | 18,000,000 |
Proceeds from short-term borrowings | 20,600,000 | 4.500,000 | |
Repayment of short-Brm borrowinge | (5.000,000 | ||
Loan repald to the Parent Company | (33,113,000 | (11,500,000 | |
Repayments of long-lerm borrowings | 17.5 | (1.830,913 | (2,seg,717 |
Loan obtalned from the Parent Company | 33,113,000 | 11,500,000 | |
Finance coat pald | (6,371,947 | (3,018,963 | |
Divklends paid | (25.307,225 | (28.674,928 | |
Net cash generated from / (uiIicsd in) financlng acflvities | 5.989,915 | (11.660,608) | |
Net increaee / (decrease) in cash and cash equitalents | 8.663,725 | (6,417.275) | |
Cash and cash equivalents at beginnlng of the year | (2,443,701) | 3,973,574 | |
Cash and caah equivalents at end of the year | 40 | 6,20,0224 | {2 443 701) |
CONSOLIDATED STATEMENT OF CASH FLOWS
The annexed notes from 1 to S2 form an Integral part of these c0nsolldated financial statement.
Muhammad Imren Khalil Chief Financial ORlcer
Ali Rathore
Chief Executive Ofilcer
Ahcsn Zafer Syed
ChairmanI-NGRO FEP TILIZ€ RS LIMITED STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2025
(Amounts in thousand)
O(0 | ZOZS | 2024 | |
ASSETS | |||
Non-current assets | |||
Property, uIan1 and egui[ rir•n | 4 | 83,137,431 | |
Intang ihIe asse Is | 5 | 4,779,969 | 5,007,551 |
Inve 1ri enj in sibsi‹Iiary | 10d | 100 | |
Deferred taxation | 2] | 37,736 | |
Long-team invesln0nls | 3,597,740 | 3.517, 074 | |
26,738 | 1 SP ,g21 | ||
100,833,543 | 91,860,077 | ||
Currant assets | |||
Stores, spares and looso lools | 9,151,070 | 8,239,527 | |
Stock-in-trade | 10 | 11,085.119 | 12,204,931 |
T'rade debts | 11 | 14,200,239 | 5,G8"7,349 |
Olher receivables | 10,500,236 | ||
Loans, advances, deposits and prepayrnents | 13 | 2,301,08G | 3,417,14 1 |
Working capital loan to subsidiary | 14 | 20,9 g 0,123 | 11,802,310 |
axat'ion - net | 10.635,991 | 11,344,778 | |
Accrued income | 874,728 | 764,92G | |
Short-tern inveslmer Is | 15 | 15,062,B50 | 2,739,411 |
Cash and bank balances | 16 | 7940297 | 4,26 1,445 |
99,03+098 | 71,062,05+ | ||
TOTAL ASSETS | 199,867,6'41 | 182,922,13 |
(AmounD In thouaend)
EOUITY é MABIMTIE8
Equity Share cepltal Reaervee
Share premium
Resew0 of malgamation
Rerneasurament of post employment benefits Unappropriated pro0t
NOI8
1r
jg jg 18
16
2026
-•• --Rupaaa
13,352,993
2024
19.352,883
TOYAL EQUITY
Nonwurrent IlabJIltfas
Borrowings Government grant Deferred taxation Deferred âabilities
Current liabilities
Trade erxt other payabioa Aocrued interest / meA-up Current portion of:
borrowings
government grant
deferred liabIIit1e8
PAUSE fOF GLB Tnfra6tMCtUre Development C68s Short-ferm borrowings
Urlclalmed dividend
TOTAL £IABILlTfE8
TOTAL EQUITY AND LlABlLfTjEs
31,608.849
(38,558)
28,584,031
44,05g.842
29.445.959
342,894
34,464
19
21
22
gg ggg ggg 1,401,148
14,461,588
171.721
97,675 1a,ss8,031 29,022,723
145.770
29,823,0S7
18
20
22
16
t25,084.742 154,807.7e9
199,667,641
33.175,064
16.701,703
514.855
1,063.670
242,948
3g84.904
(30¿027)
30,184,664
21,342,076
1,181,951
2,8g4,018
202,737
18,656,031
12,451,622
82,30t
05,070.796
11e,393,474 'I62,022,131
The annexed notes Iron 1 to S4 form an Integral pan of these 8nandal clajements.
Muhammad Imren Khalil chief Financial Officer
Ali Ralhore
Chief Exeeutlve Offksr
Ahsan Zafar Syed Chalrmyp
ENGRO FERTILIZERS LIMITED | Annexure B-2 | |||
FOR TFIE YEAR ENDED DECEMBER 31, 2020 | ||||
(Amounte jn thoueana except for eemnga par share) | ||||
Note | ||||
27 | 193,247,740 | 186,708,958 | ||
Cost of sales | 38 | (124,698.5e0) | (125,531,671) | |
68,349,150 | 61,177,287 | |||
Selllng and distribution expenses | 29 | (19,402,920) | (15,849,909) | |
Administrative expenses | 30 | (4,720,822) | (4.290,874) | |
44,225.408 | 40,936,504 | |||
Olher income | 5,372.372 | 10,702,500 | ||
Other operating expenses | 32 | (4,434,043) | (4,130,801) | |
F'inance cost | 33 | (6.050,229) | (3,081.835) | |
Gain on subsidy eceivabIe from GoP | 624,715 | 1.203,088 | ||
Profit before taMtlon | 39,738.223 | 44,818,746 | ||
Taxation | 36 | (15,087,688) | (14,612.984) | |
Proflt for the year | 23.770.535 | 30106,762 | ||
Eernfngs per shere - Saalc and diluted | 36 | 17.80 | 22.82 | |
STATEMENT Of° PROFIT OR LOS6
The aonased rates lfom 1 o 54 form e» Wtegtat patt d lhese 1inaricia atatemer/ts.
Muhammad Imren Khalil
Chief Financial Officer
Ali Ralhore
Chief E¥acutl¥e Officer
Chairman
ENGRO FERTILIZERS LIMITED
STATEMENT OF COMPne eaaivE inco64E
FOR THE YEAR ENDED OCEM8ER 3t, 2025
Annexure B-3
(Amounts In thoueand)
Profit for tha year
Other comprehensive Inaome:
Items that will noc be zeclaaelfled subsequently to profit or loss
Remeaswement of post employmant benefits obligation
Tax relatlng to remeasurement of post employment benefils obligation
Note
40.2.7
MJ6 2Q24
-.... .... Rupqg.. .. ...
23.7?0.Sus oo,zn,rg2
51,373 | 7.356 |
(20,W5 | {2,889 |
31.336 4,487
Total comprehanalve Income for the yeer
8nn8X8d noles brain 1 to 54 form in InegraI pert of ¥'iese finandal statemante.
23.801.873 30,211,249
Muhanxnad Imran Khalil cf4ef Financial Officar
Afl Rathore
Chief Executive OfI1cer
Ahggn Zafar Syad Chairman
ENGRO FERTILIZERS LIMITED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED DECEMBER 31, 2026
(Amounts in thousand)
Annexure B-4
srefit
our ••mi›rehensfve lncsme
31,3Z8
{10#2,JBTj
{10W2,3M
73.J 2.M3 3,J0,@
fear.ozij
4,4B7
c,‹s7
The annexed noise/ror« a s‹ e•• an cas ai pan of ihece statame«ia.
Muhammad Imran Khalil Chief Financial Officer
All Rathore
Chlef Executive ORlcer
Ahsan Zafar Syed Chairman
ENGRO FERTILIZER8 LIMITED STATEMENT OF CA9H FLOWS
FOR THE YEAR ENDED DECEMBER SI, z02s
(Amounts In thousand)
2026
Annexure B-5
2024
--•••••••-Rupees-
Cash generated from operalions Ratlremanl and olher sewico benefits peid Texes paid
Long-jerm loans, edyances end depoBila
Income on deposits / otl+or financial assels receded
51,36e,280 (545,35e)
(17.180,3+6)
71,183 2.107.138
31.421,441
{354,280)
{34.B35,724)
11,8BS
3,503,5B3
Nel cash generated from / (utilised In) operating actlvi8es
Cash flows from Irrwsfing acMvltles
Purchases of property, planl and eq'uipment 8nd in@ngibles Proceeds from disposal of operating assetc
Disbursement of working capital loan to subsidiary Payment reoelved against w‹xting capilal loan lo subsldiery Purchase ol short-Ierm and long-term investments
Proceeds from sele of short-ten and long-term iwestments Dlsburaament of loen toHolding Company
Repayment received against loan to Holding Corrpany Dlvidends received
Net cash fulillsed In) / generated from invecling activijias
35,821,887 (263.094)
(4,44s,007I
1,658,M9 (00,616,0291 51.420,2t6
{35,722,228
29.318,225 t2.680,000 2,660,000
885.000
( ,227,357)
1,581,789 (100,3T6,802' 88,B88,368 (88,2B4,988}
105,881,344
5,760.000
(33,400,448)
Caah flowa from fingnclng ectivftlee
Proceeds from long-term borrowlngs Proceeds from short-tarn borrowings Repayment of short-term bcxrgwings Lqgn obtained fro‹zi the Holding Ct•rpany Repayment of long-term borrowings
Loan repald to the Hold|ng Company Finance cost paid
Dividends paid
Nel ccth generated from (utlllced In) fwarclng activities Ne incraac• / {decrease) in eash end cash equiveleuls Cash and cash equlvnlanls st beginning of the year
Cash end cash eqvIvalens at end of Iha yaar
The annexed noles from 1 to 54 form an inlegral part of the8e financial elalements.
19.6
8.0B5,300
20.500,000
(6,kg,g@ 53.115,000 (.830.91sj (33,113.OSI)
{8,288,6g2)
(15,307,225}
8.66,751 t8.440,177} 6.176.574
(11.761,615)
11,500.000
/,666.7171 (11,500,IXI0)
{2,889,NB)
{28.874,82B
3.113.926
Muhenxnad Imran Malll
Chief Flnenciel ORcerAli Relhore
Chief Executive Dflicer
Ahsan Zafar Sid Chalrman