March 6, 2026 FATIMA/PSX/26/A-003
The General Manager Executive Director/HOD
Pakistan Stock Exchange Limited Offsite-II Department
Stock Exchange Building Supervision Division
Stock Exchange Road SECP, Blue Area
Karachi. Islamabad.
Sub: Financial Results for the Year Ended December 31, 2025Dear Sir,
We have to inform you that the Board of Directors of our Company in its meeting held electronically on March 06, 2026, at 02:30 pm, recommended the following:
-
Cash Dividend
A final Cash Dividend for the year ended December 31, 2025, at Rs. 2.50 per share i.e. 25%. This is in addition to the interim Dividend already paid at Rs. 3.50 per share i.e. 35%. This will take the total payout for the year 2025 to Rs. 6.00 per share.
- Bonus Shares NIL
- Right Shares NIL
- Any other entitlement / Corporate action NIL
-
Any other price sensitive information:
"The Board of Directors of Fatima Fertilizer Company Limited has recommended/approved following investments/additional investments in different sectors, in line with the Company's ongoing business diversification strategy as communicated earlier:
- Aviation Sector: Investment of up to PKR 50,000 million in PIA Equity Limited, an associated company, for the acquisition of Pakistan International Airlines Corporation Limited (PIACL) through PIA Equity Limited, which has been incorporated as a special purpose vehicle (SPV) by the consortium led by Arif Habib Corporation Limited for the said acquisition, either directly or indirectly through a wholly owned subsidiary. This strategic investment is intended for potential turnaround of the national airline, while diversifying the Company's exposure into the aviation sector.
Exploration and Production (E&P) Sector: Equity investment of up to PKR 9,875 million in Fatima Petroleum Company Limited (FPCL), a wholly owned subsidiary, for exploration activities aligned with the Company's strategy to expand into natural resource opportunities. FPCL has entered into Production Sharing/farm-out agreements with Mari Energies (Operator), Orient Petroleum Inc. ("OPI"), Hycarbex American Energy Inc. ("Hycarbex") and Turkish Petroleum Overseas Company (TPOC) with regards to four Onshore and two Offshore blocks.
Capital Market Investments: Investment of up to PKR 7,000 million in Fatima Capital Limited, a wholly owned subsidiary, to strengthen the Company's presence in the capital market and other investment avenues to gain advantage over emerging opportunities. This will further enhance the existing investment portfolio valuing PKR 21.65 billion in listed securities held by Fatima Capital Limited, as at December 31, 2025.
Real Estate Sector: Additional Equity investment of up to PKR 3,000 million (other than PKR 11,000 million already approved) aggregating to PKR 14,000 million in Emerald Bay Islamic Developmental REIT fund, a REIT fund under the management of Lake City REIT Management Limited. The project aims to develop
Plant Site: Mukhtar Garh, Sadiqabad, District Rahim Yar Khan, Pakistan. PABX: +92 68 5786960, Fax: +92 68 5786909
Head Office: E-110, Khayaban-e-Jinnah, Lahore Cantt., Pakistan. PABX: +92 42 111-FATIMA (111-328-462), Fax: +92 42 36621389, https://www.fatima-group.com
an urban community over approximately 4,000 acres within the jurisdiction of Ravi Urban Development Authority (RUDA), one of Pakistan's most ambitious urban development initiatives. The other members of the REIT fund include AJ Holdings, JW SEZ (Pvt) Ltd, Soorty Group, Din Group, Ghani Group, Liberty Mills, Lake City Holdings, Master Textile. This investment reflects the Company's interest in participating in Shariah-compliant real estate development.
Real Estate Sector: Renewal of existing unutilized equity investment limit of up to PKR 2,250 million in REITs under the management of Arif Habib Dolmen REIT Management Limited, an associated company, enabling the Company to capitalize on potential investment opportunities.
These investments are intended to strengthen the Company's diverse portfolio and support growth in strategic areas. Further updates, if any, will be communicated to the Pakistan Stock Exchange in due course."
The Financial Results of the Company for the Year Ended December 31, 2025, are attached.
The Annual General Meeting of the Company will be held both physically and through electronic means on Friday, April 17, 2026, at 11:00 a.m.
The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on March 30, 2026.
Book Closure Dates:-
For entitlement of dividend:
The Share Transfer Books of the Company will be closed from March 31, 2026 to April 02, 2026 (both days inclusive) for the purpose of entitlement of final cash dividend of 25%.
Transfers received at the office of our Shares Registrar, CDC Share Registrar Services Limited, CDC House, 99 - B, Block 'B', S.M.C.H.S., Main Shahra-e-Faisal, Karachi-74400, at the close of business on March 30, 2026 will be treated in time for the aforesaid purpose.
- For attending AGM:
The Share Transfer Books of the Company will be closed from April 10, 2026 to April 17, 2026 (both days inclusive) for the purpose of attending Annual General Meeting.
Transfers received at the office of our Shares Registrar, CDC Share Registrar Services Limited, CDC House, 99 - B, Block 'B', S.M.C.H.S., Main Shahra-e-Faisal, Karachi-74400, at the close of business on April 09, 2026 will be treated in time for the aforesaid purpose.
The Annual Report of the Company will be transmitted through PUCARS at least 21 days before holding of the Annual General Meeting.
Yours sincerely,
Anil Zia
Deputy Company Secretary Encl: As above
Plant Site: Mukhtar Garh, Sadiqabad, District Rahim Yar Khan, Pakistan. PABX: +92 68 5786960, Fax: +92 68 5786909
Head Office: E-110, Khayaban-e-Jinnah, Lahore Cantt., Pakistan. PABX: +92 42 111-FATIMA (111-328-462), Fax: +92 42 36621389, https://www.fatima-group.com
FATIMA FERTILIZER COMPANY LIMITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, Z0252025 2024
(Rupees in thousandj
2025 2024
(Rupees in thousand)
EQUITY AND LIABILITIES CAPI"£AL AND RESERVES | ASSETS NON CURRENT ASSETS | ||
Authorized share capital | Property, plant and equipment | 107,156,103 | 110,850,155 |
3,100,010,000 (2024: 3,700,010,000) | Intangible assets | 212,637 | 195,113 |
shares of Rs 10 each
Issued, subscribed and paid up share capital 2,100,000,000 (2024: 2,100,000,000)
ordinary shares of Rs 10 each Reserves
NON CURRENT LIABILITIES
Long term finances - secured
Subordinated redeemable preference Class A shares Lease liabilities
Deferred taxation Deferred liabilities
Long term advances and deposits
CURRENT LIABILITIES
Trade and other payables Accrued finance cost Income tax payabie
Short term finances - secured Unclaimed dividend
Payable to Privatization Commission of Pakistan Current portion of long term liabilities
31,000,100 37,000,100
21,000,000 21,000,000
148,864,S43 123,169,019
169,864,543 144,169,019
2,613,784 | 42,291,109 |
1,994,677 | 1,714,210 |
61S,612 | 64B,616 |
27,506,194 | 27,656,479 |
3,185,196 | 2,847,575 |
96,010 | 497,663 |
36,011,473 75,655,652
68,972,625 | 61,803,834 |
1,704,720 | 1,842,511 |
11,g09,071 | 9,662,283 |
32,393,219 | 19,515,298 |
90,146 | 70,583 |
2,197,901 | 2,197,9D1 |
37,850,852 | 1,971,882 |
155,018,534 97,064,292
Investment property
Long term investments
Long term loans to related parties Long term advances and deposits
CURRENT ASSETSStores and spares Stock in trade Trade debts
Short term loans to related parties
Advances, deposits, prepayments and other receivables Short term investments
Cash and bank balances
162,701 163,607
107,531,441 111,208,875
10,748,893 | 41,889,385 |
280,000 | 180,000 |
12,084,697 | 7,529,582 |
za,zza,ss0 49,598,g67
130,645,031 160,807,842
21,396,796 | 19,234,739 |
64,220,164 | 59,785,874 |
32,269,779 | 18,594,936 |
1,194,595 | 248,031 |
1B,162,463 | 18,082,898 |
90,018,221 | 30,743,757 |
2,987,501 | 9,390,886 |
230,249,519 156,081,121
CONTINGENCIES & COMMITMENTS360,894,550 316888,963
360,894,550_ 316,888;963_
ief Financial Officer
FATIMA FERTILIZER COMPANY LIMITED CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED DECEMBER 31, 2025202s 2024
(Rupees in thousand)
Sales | 276,176,566 | 256,920,236 | |
Cost of sales | (181,752,607) | (165,103,137) | |
Gross profit | 94,423,959 | 91,817,099 | |
Distrihutiun cost | (17,306,053) | (14,406,838) | |
Administrative expenses | (11,038,045) | (10,437,249) | |
66,079,861 | 66,973,012 | ||
Finance cost | (7,937,92S) | (5,082,522) | |
Other operatin• expenses | (5,820,240) | (10,773,368) | |
52,321,696 | 51,117,122 | ||
Other income | 16,192,282 | 12,501,906 | |
Share of loss from associates | (170,707) | (87,543) | |
Other losses: | |||
- Unwinding of provision for GIDC | (70,207) | ||
- l.oss allowance on subsidy receivaLale from GoP | (627,648) | ||
(697,855) | |||
Profit before tax | 68,343,271 | 62,833,630 | |
Taxation | (26,2g4,246) | (26,438,835) | |
Profit for the year | 42,059,025 | 36,394,795 | |
Earnings per share - basic and diluted (Rupees) | 20.03 | 17.33 |
ief Financial Officer
FATIMA FERTILIZER COMPANY LIMITEDCONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2025
2025 2024
(Rupees in thousand)
Profit for the year
Other comprehensive loss:
Items that may not be reclassified subsequently to profit or loss:
Remeasurement of post retirement benefits obligation Related tax thereon
Other comprehensive loss - net of tax
42,059,025
(14S,083) | (100,665) |
56,582 | 39,259 |
(88,501)
36,394,795
(61,406)
Total comprehensive income for the year
41,970,524 36,333,389
hief Financial Officer
FATIMA FERTILIZER COMPANY LIMITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED DECEMBER 31, 2025Ordinary share capital | Capital reserve | Revenue reserve | Post retirement benefit obligation reserve | Total |
Share premium | Unappropriated pr€tfit |
(Rupees in thousand)
Balance at December 31, 2023 | 21,000,000 | 1,790,000 | 96,933,972 | (338,342) | 119,385,630 |
Profit for the year | 36,394,795 | 36,394,795 | |||
Other comprehensive income | (61,406) | (61,406) | |||
Total comprehensive income Transaction with owners: | 36,394,79S | (61,406) | 36,333,389 |
Final dividend for the year ended December 31, 2023 @ Rs 2.75 per share
Interim dividend for the year ended
(5,775,000)
(5,775,000)
December 31, 2024 @ Rs 2.75 per share | (5,775,000) | (5,775,000) | |||
Balance at December 31, 2024 | 21,000,000 | 1,790,000 | 121,778,767 | (399,748) | 144,169,019 |
Profit for the year | 42,059,025 | 42,059,02S | |||
Other comprehensive income | (88,501) | (88,501) | |||
Total comprehensive income | 42,059,025 | (88,501) | 41,970,524 | ||
Transaction with owners: | |||||
- Final dividend for the year ended | |||||
December 31, 2024 @ Rs 4.2S per share - Interim dividend for the year ended | (8,925,000) | (8,925,000) | |||
December 31, 2025 @ Rs 3.50 per share | (7,350,000) | (7,350,000) | |||
Balance at December 31, 2025 | 21,000,000 | 1,790,000 | 147,562,792 | (488,249) | 169,864,543 |
ief Financial Officer
FATIMA FERTILIZER COMPANY LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 20252025 2024
(Rupees in thousand)
Cash flows from operating activities | ||
Cash generated from operations | 61,922,336 | 37,167,522 |
Net increase in long term deposits | (401,653) | 31,005 |
Finance cost paid | (8,016,516) | (3,692,087) |
Taxes paid | (25,338,428) | (28,019,957) |
E cployee retirement benefits paid | (232,497) | (189,573) |
Net cash generated from operating activities | 27,933,242 | 5,296,910 |
Cash flows from investing activities | ||
Additions in property, plant and equipment | (8,724,802) | (9,821,480) |
Additions in intangible assets | (171,225) | (41,437) |
Proceeds from disposal of property, plant and equipment | 96,575 | 50,765 |
Purchase of shoil term investments | (30,796,807) | (19,445,700) |
Long term loan given to a associated company | (100,000) | |
Short term loans to associated companies - net | (946,564) | 4,671,692 |
Purchase of long term investments | (3,303,473) | (39,932,110) |
Proceeds from long term investments | 4,017,502 | |
Proceeds from short term investments | 17,768,424 | 13,763,956 |
Profit received on loans and saving accounts | 5,923,001 | 5,420,933 |
Dividend income received | 2,439,607 | 760,844 |
Net increase in long term advances and deposits | (9,043,233) | (3,873,903) |
Net cash used in investing activities | (26,858,497) | (44,428,938) |
Cash flows from financing activities | ||
Proceeds from long term finances | 187,447 | 39,159,225 |
Repayment of long term finances | (4,177,941) | (3,280,S36) |
Repayment of short term loans from related parties | (1,626,307) | |
Repayment of lease liabilities | (110,120) | (109,358) |
Dividend paid | (16,255,437) | (11,535,186) |
Increase / (decrease) in short term finances - net | 6,581,178 | 2,557,277 |
Net cash generated from / (used in) financing activities | (13,774,873) | 25,165,115 |
Net (decrease) / iitcrease in cash and cash equivalents | (12,700,128) | (13,966,913) |
Cash arid cash equivalents at the beginning of the year | (6,741,279) | 7,225,634 |
Cash and cash equivalents at the end of the year | (19,441,407) | (6,741,279) |
Cash and cash equivalents comprises of following: | ||
Cash and bank balances | 2,987,501 | 9,390,886 |
Running finance and musharakah | (22,428,908) | (16,132,165) |
Cash and cash equivalents at the end of the year | (19,441,407) | (6,741,279) |
Ch f Financial Officer
FATIMA FERTILIZER COMPANY LIMITED STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2025
EQUITY AND LIABILITIES CAPITAL AND RESERVESAuthorized share capital
3,100,010,000 (2024: 3,700,010,000)
shares of Rs 10 each
Issued, subscribed and paid up share capital 2,100,000,000 (2024: 2,100,000,000)
ordinary shares of Rs 10 each Reserves
NON CURRENT LIABILITIESLong term finances - secured
Subordinated redeemable preference Class A share Lease liabilities
Deferred taxation Deferred liabilities
Long term advances and deposits
CURRENT LIABILITIESTrade and other payables Accrued finance cost Income tax payable
Short term finances - secured Unclaimed dividend
Payable to Privatization Commission of Pakistan Current portion of long term liabilities
2025 2024
(Rupees in thousand)
1 0 1 0 37,000,100
21,000,000 21,000,000
134,864,597 120,732,919
155,864,597 141,732,9192,426,337 | 42,291,109 |
1,994,677 | 1,714,210 |
599,942 | 636,185 |
13,868,864 | 23,668,521 |
2,796,526 | 2,725,767 |
94,912 | 497,354 |
50,219,527 | 55,422,205 |
1,681,470 | 1,806,013 |
8,669,192 | 10,140,497 |
29,735,596 | 17,959,728 |
90,146 | 70,583 |
2,197,901 | 2,197,901 |
37,847,416 | 1,968,866 |
21,78t,Z58 71,533,146
130,441,248 89,565,793 ASSETS NON CURRENT ASSETSProperty, plant and equipment Intangible assets
Investment property
Long term investments
Long term loans to related parties Long term advances and deposits
CURRENT ASSETSStores and spares Stock in trade Trade debts
Short term loans to related parties
Advances. loans, deposits, prepayments and other receivables Short term investments
Cash and bank balances
2025 2024
(Rupees in thousand)
65,935,348 | 96,202,487 |
194,426 | 195,113 |
162,701 | 163,607 |
66,292,475 96,561,207
49,273,747 | 51,170,793 |
505,000 | 480,000 |
11,562,955 | 7,485,482 |
61,341,702 59,136,275
127,634,177 155,697,482
9,077,384 | 15,058,608 |
35,432,363 | 53,169,508 |
31,S43,020 | 17,569,721 |
17,417,566 | 3,477,S39 |
16,202,177 | 18,484,806 |
68,102,743 | 30,286,530 |
2,677,673 | 9,087,664 |
180,452,926 147,134,376
CONTINGENCIES & COMMITMENTS
308,087,103 302,831,858
308,087,103 302,831,858
hief Financial Officer
FATIMA FERTILIZER COMPANY LIMITED STATEMENT OF PROFIT OR LOSS
FOR THE YEAR ENDED DECEMBER 31, 2025
Sales
Cost of sales Gross profit
2025 2024
(Rupeesinthousand)
170,057,696 238,422,133
(98,702,737) (150,919,315)
71,354,959 87,502,818
Distribution cost Administrative expenses
Finance cost
Other operating expenses
Other income
Share of loss from associates Other losses:
Unwinding of provision for GIDC
Loss allowance on subsidy receivable from GoP
Profit before tax Taxation
Profit for the year(11,663,785)
(7,667,283)
52,023,891(7,766,511)
(4,327,942)
39,929,438
10,679,825
(58,700) (627,648) |
(170,707)
50,438,556
(19,970,502)
30,468,054
(13,952,445)
(10,035,133)
63,515,240
(4,750,109)
(10,568,880)
48,196,251
13,133,253
(87,543)
(686,348)
60,555,613
(25,572,375)
34,083,238
Earnings per share
- basic and diluted (Rupees)
14.51 16.66
ief Financial Officer
FATIMA FERTILIZER COMPANY LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2025
2025 2024
(Rupees in thousand)
Profit for the year
Other comprehensive income:
Items that may not be reclassified subsequently to profit or loss:
(100,616) | (108,691) |
39,240 | 42,389 |
Remeasurement of post retirement benefits obligation Related tax thereon
30,468,054
34,983,238
Other comprehensive income - net of tax | (61,376) | (66,302) |
Total comprehensive income for the year | 30,406,678 | 34,916,936 |
ief Financial Officer
FATIMA FERTILIZER COMPANY LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED DECEMBER 31, 2025Ordinary share C I d | capital reserve | Revenue reserve | Post retirement benefit obligation reserve | Total |
Share premium | Unappropriated p g |
(Rupees in thousand)
Balance at December 31, 2023 | 21,000,000 | 1,790,000 | 95,913,335 | (337,352) | 118,365,983 |
Profit for the year | 34,983,238 | 34,983,238 | |||
Other comprehensive income | (66,302) | (66,302) | |||
Total comprehensive income Transaction with owners: | 34,983,238 | (66,302) | 34,916,936 |
Final dividend for the year ended December 31, 2023 @ Rs 2.75 per share
Interim dividend for the year ended
(5,775,000)
(5,775,000)
December 31, 2024 @ Rs 2.75 per share | (5,775,000) | (5,775,000) | |||
Balance at December 31, 2024 | 21,000,000 | 1,790,000 | 119,346,573 | (403,654) | 141,732,919 |
Profit for the year | 30,468,054 | 30,468,054 | |||
Other comprehensive income | (61,376) | (61,376) | |||
Total comprehensive income | 30,468,054 | (61,376) | 30,406,678 | ||
Transaction with owners: | |||||
- Final dividend for the year ended | |||||
December 31, 2024 @ Rs 4.25 per share - Interim dividend for the year ended | (8,925,000) | (8,925,000) | |||
December 31, 2025 @ Rs 3.5 per share | (7,350,000) | (7,350,000) | |||
Balance at December 31, 2025 | 21,000,000 | 1,790,000 | 133,539,627 | (465,030) | 155,864,597 |
hief Financial Officer
FATIMA FERTILIZER COMPANY LIMITED STATEMENT OF CASH FLOWSFOR THE YEAR ENDED DECEMBER 31, 2025
2025 2024
(Rupees in thousand)
Cash flows from operating activities | ||
Cash generated from operations | 68,376,127 | 39,182,374 |
Net (decrease) / increase in long term deposits | (402,442) | 30,696 |
Finance cost paid | (7,835,469) | (3,344,933) |
Taxes paid | (23,522,764) | (27,402,839) |
Employee retirement benefits paid | (113,806) | (245,748) |
Net cash generated from operating activities | 36,501,646 | 8,219,550 |
Cash flows from investing activities | ||
Additions in property, plant and equipment | (4,397,185) | (9,239,113) |
Additions in intangible assets | (151,473) | (41,437) |
Proceeds from disposal of property, plant and equipment | 90,354 | 50,671 |
Purchase of short term investments | (30,796,807) | (19,184,322) |
Short term loans to related parties - net | (13,940,027) | 1,522,184 |
Long term loans given to related parties | (100,000) | (380,000) |
Purchase of long term investments | (3,438,493) | (39,933,110) |
Proceeds from long term investments | 4,017,502 | |
Proceeds front short term investments | 17,507,046 | 13,763,956 |
Profit received on loans and saving accounts | 7,213,080 | 5,623,792 |
Dividend income received | 2,429,056 | 755,028 |
Net increase in long term advances and deposits | (8,565,591) | (3,934,446) |
Net cash used in investing aHivities | (34,150,040) | (46,979,295) |
Cash flows from financing activities | ||
Proceeds front long term finances | ||
Repayment of long term finances | ||
Repayment of short term loans from related parties | ||
Repayment of lease liabilities | ||
Dividend paid | ||
Increase in short term finances - net | ||
Net cash (used in) / generated from financing activities | (13,759,124) | 24,875,529 |
Net decrease in cash and cash equivalents | (11,407,518) | (13,884,216) |
Cash and cash equivalents at the beginning of the year | (6,785,351) | 7,094,865 |
Cash and cash equivalents at the end of the year | (18,196,869) | (6,789,351) |
Cash and cash equivalents comprises of following: | ||
Cash and bank balances | 2,677,673 | 9,087,664 |
Running finance and musharakah | (20,874,542) | (15,877,015) |
Cash and cash equivalents at the end of the year | (18,196,869) | (6,789,351) |
39,159,225 | |
(4,177,941) | (3,100,841) |
(1,626,307) | |
(104,087) | (104,075) |
(16,255,437) | (11,535,186) |
6,778,341 | 2,082,713 |
ief Financial Officer