Engro : FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2024 (CONSOLIDATED AND STANDALONE)
April 25, 2024 at 04:06 am EDT
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April 25, 2024
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi
Dear Sir / Madam,
FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2024 (CONSOLIDATED AND STANDALONE)
We would like to inform you that the Board of Directors of Engro Corporation Limited (the "Company") in their meeting held on Thursday - April 25, 2024 at 11:00 a.m. (Pak Time) at Karachi School of Business and Leadership (KSBL) situated at National Stadium Road, Opp. Liaquat National Hospital, Karachi, reviewed and approved the un-audited consolidated and standalone financial results of the Company for the first quarter ended March 31, 2023, and recommended the following:
CASH DIVIDEND
An Interim Cash Dividend for the first quarter ended March 31, 2024 @ Rs. 11.00 per share i.e. 110%.
BONUS SHARES Nil
RIGHT SHARES Nil
ANY OTHER ENTITLEMENT / CORPORATE ACTION Nil
ANY OTHER PRICE-SENSITIVE INFORMATION DIVESTMENT OF THERMAL ENERGY ASSETS
As notified to PSX on April 4, 2024, Engro Energy Limited, a wholly owned subsidiary of the Holding Company, has entered into definitive agreements with Liberty Power Holding (Pvt.) Limited and other parties acting in concert (Acquirers) for the sale of its entire shareholding in EPQL, EPTL and SECMC, subject to certain adjustments as agreed in the definitive agreements.
The divestment meets the classification criteria of International Financial Reporting Standard 5 - "Non-Current Assets Held for Sale and Discontinued Operations". Accordingly, in the consolidated financial results of the Company for the quarter ended March 31, 2024, the financial results of thermal energy assets have been reported as discontinued operations.
The un-audited consolidated and standalone financial results of the Company for the first quarter ended March 31, 2024, are enclosed.
The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on Wednesday - May 08, 2024.
The Share Transfer Books of the Company will remain closed from Thursday - May 09, 2024, to Friday - May, 10, 2024 (both days inclusive). Transfers received in order at the office of our Share Registrar, M/s. FAMCO Share Registration Services (Private) Limited, 8 - F, Near Hotel Faran, Block 6, P.E.C.H.S. Shahrah-e-Faisal, Karachi, PABX No. (+92-21)34380101-5 and email: info.shares@famcosrs.comby the close of business (05:00 p.m.) on Wednesday - May 08, 2024 will be treated in time for the purpose of determining entitlement of above interim cash dividend to the transferees.
The Quarterly Report of the Company for the first quarter ended March 31, 2024, will be transmitted through PUCARS separately within the specified time and shall also be made available on our website www.engro.com.
Best Regards,
Mohammad Yasir Khan
Company Secretary
Enclosed:
Consolidated & Standalone Financial Results
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Engro Corporation Ltd. published this content on
25 April 2024 and is solely responsible for the information contained therein. Distributed by
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Engro Corporation Limited is a holding company. The Company's segments include fertilizer, polymer, terminal, power and mining, connectivity and telecom, and other operations. Fertilizer segment manufactures, purchases and markets fertilizers. Its fertilizer brands, besides urea, include Engro Zarkhez, Zingro and Engro DAP. Polymer segment manufactures, markets and sells poly vinyl chloride (PVC), PVC compounds, caustic soda and related chemicals. Terminal segment operates and maintains liquid chemical terminal, storage farm and liquefied natural gas (LNG) terminal for receipt, storage and regasification of LNG. Power and mining segment includes power generation, distribution, transmission and sale of electricity, and has investments in coal mining business. Connectivity and telecom segment buys, builds, maintains and operates telecommunication infrastructure and ancillary products and services. Other operations include investments made in food, diary and commodities trading business.