FFBLFauji Fertilizer Bin Qasim Limited (chemical company; Rawalpindi, Pakistan)
FFBLFoundation for a Better Life
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FFBL sold 194,000 tons of DAP during the month under review (up 33%MoM/down 8%YoY).
In addition, positive relationships were observed between the RFS, FFD and FFS values, and strongly significant correlations were observed between the FFHL and FFBL values.
40/share for FFBL while at the same time every Rs50/mmbtu increase in feed gas not passed on will dampen the company's earnings by Rs0.
The gas curtailment to FFBL comes at the heels of the government decision to conduct an energy-efficiency audit in order to provide gas to efficient units on a priority basis.
The major decline in DAP was seen due to plant shutdown of FFBL (sole producer of DAP) on the back of non-availability of gas from SSGC.
He further said that the industry in General and particularly the four plants located on SNGPL and FFBL plant on SSGC network have been the worst hit plants in 2012 and still, only Agritech and DH Fertilizers have started production in March 2013.
Corporate results continued to come in this week, with FFBL and FFC reporting results.
The investors preferred their positions in the banking and fertilizers sectors including BOP and FFBL, he added.
InvestCap analyst anticipates positive results of FFBL for 4QCY13 and expect the company to post net profit of Rs2.
In first quarter of year 2012 all SNGPL based plants that include Agritech, DH Fertilizers, Pak-Arab, Engro's new plant as well as SSGC based FFBL faced a loss of revenue by 53% compared with 1Q of 2011, generating Rs.
Key highlights of the result include 1) revenue growth of 5%YoY during 9MCY13 to Rs52,533 million led by 11%YoY growth in urea offtake, 2) reduction in finance cost by 28%YoY likely due to lower short-term borrowing requirement, 3) a robust 56%YoY growth in 3QCY13 earnings largely on the back of increase in 'Other Income' to Rs1,414 million due to higher dividend income from FFBL and FCCL.
We fine tune our earnings estimate for FFBL by +3%/-0.