Engro Fertilizers Limited (PSX: EFERT) has crossed $1 billion in market capitalization due to the recent bull run, AKD Securities Limited said in a brief market review on Friday.
EFERT’s urea sales increased by 34 percent YoY to 208k tons, mainly due to a low base from last year’s plant turnaround, and a discount offering during the period. This led to EFERT’s market share recovering to 36 percent from 32 percent in the same period last year.
In contrast, the company’s DAP offtakes dropped by 62 percent YoY due to higher availability of locally produced DAP, leading to a decline in market share to 10 percent from 25 percent in SPLY.
At the time of filing, EFERT’s scrip at the bourse was Rs. 209.7, up 1 percent or Rs. 2.07 with 2.05 million shares on Friday.
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