ENGROH

⚡ Flash Summary

ENGROH announced: Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Reg. Basic analysis suggests neutral sentiment. Professional review recommended.

📌 Key Takeaways

• ENGROH made announcement: Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Regulations
• Automated analysis: HOLD signal detected
• Signal strength: 5/10
• This is basic analysis – manual review recommended
• Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for ENGROH. Manual verification required.

⚡ Flash Summary

Engro Holdings Limited is hosting an analyst briefing to discuss the company’s business results and performance for the nine months ended September 30, 2025. The briefing will be held online via Zoom. The analyst briefing will take place on Thursday, October 30, 2025, from 04:30 PM to 05:30 PM (Pak Time). Interested participants can join the session using the provided registration link, Meeting ID, and Passcode.

📌 Key Takeaways

• 🗓️ Analyst briefing on Engro Holdings’ business results for 9 months ended September 30, 2025.
• 💻 Briefing will be an online event via Zoom.
• 📅 Date: Thursday, October 30, 2025.
• ⏰ Time: 04:30 PM – 05:30 PM (Pak Time).
• 🏢 Venue: Virtual Zoom Meeting.
• 🔗 Registration Link: https://engro.zoom.us/j/99915140477
• 🆔 Meeting ID: 999 1514 0477
• 🔑 Passcode: 311296
• 🤝 Participation encouraged for TREC Holders of the exchange.
• 👤 Hosted by Farooq Barkat Ali, Chief Financial Officer.
• 📝 Attendees should enter name and institution in ‘Full Name – Institution’ format.
• 🤫 Attendees should stay on ‘mute’ mode.
• 💬 Questions via chat box for the Q&A session.
• ✋ Zoom actions available to raise a hand for unmuting and asking questions.

🎯 Investment Thesis

A HOLD recommendation is maintained due to the limited information available in the announcement. A more informed decision can be made after the analyst briefing, once detailed financial results and future outlook are presented.

⚡ Flash Summary

Engro Holdings Limited’s Q3 2025 analyst briefing highlights macroeconomic progress in Pakistan under the IMF program. The economic environment demonstrates continued strengthening, with real GDP growing by ~2.68% in FY25. Monetary policy remains steady at 11.0%, and Pakistan’s rating improved to Caa1. However, inflation has risen to ~5.6% YoY in Sept 2025, driven by food prices, and geopolitical volatility remains a concern.

📌 Key Takeaways

• 📈 Pakistan’s real GDP grew by ~2.68% in FY2025, versus the government’s target of 3.6%.
• 🏦 Monetary policy rate held at 11.0%, Pakistan’s rating improved to Caa1 by Moody’s.
• 💰 IMF staff-level agreement for another $1.2 billion, pending board approval, raising total disbursements to ~$3.3 billion.
• ⚠️ Inflation has risen to ~5.6% YoY in Sept 2025, driven primarily by a notable rebound in food.
• 🌍 Heightened geopolitical volatility stemming from cross-border security risks with Afghanistan.
• 🚀 KSE-100 stormed to an all-time high of 165k points in September, with ~104% gain since September 2024.
• 🌊 The economic impact of the floods appears to be limited outside of Punjab.
• 🌎 World Bank forecasts 3.1% and IMF projects 3.6% economic growth for FY26.
• ⚠️ SBP likely to continue cautious easing if inflation remains under control.
• 🔄 Continued reserve rebuilding expected from rollovers and inflows.
• 📊 ADP anticipates FY 2026 inflation to be at 6%.
• ⚠️ Instability could drive up commodity and logistics costs and erode investor confidence if conditions worsen.
• 💪 Momentum may continue coupled with increased FDI, subject to a stable geopolitical environment.
• 🚑 Emergency response and reconstruction are underway, and improved water avails to benefit farm economy.

🎯 Investment Thesis

Given the mixed signals of economic improvement alongside rising inflation and geopolitical risks, a HOLD recommendation is appropriate for Engro Holdings. While the macroeconomic environment shows some positive trends, the uncertainties warrant a cautious approach. A price target cannot be reasonably established without company-specific financial data.

⚡ Flash Summary

Engro Holdings Limited has scheduled a board meeting on October 29, 2025, at 2:00 p.m. (Pak Time) in Karachi. The purpose of the meeting is to consider the financial statements for the nine months ended September 30, 2025. The board will also consider the declaration of any entitlement. This announcement was sent to the Pakistan Stock Exchange to keep them informed of the ongoing board meeting.

📌 Key Takeaways

• 🗓️ Board meeting scheduled for October 29, 2025.
• ⏰ Meeting time is 2:00 p.m. (Pak Time).
• 🏢 Location: The Harbor Front Building, Karachi.
• 📜 Purpose: To consider financial statements for the nine months ended September 30, 2025.
• 💰 Discussion on potential entitlement declaration.
• ✉️ Communication sent to the Pakistan Stock Exchange Limited.
• 🤝 Board of Directors of Engro Holdings Limited will be present.
• 📝 Meeting is in progress as of the announcement.
• 📌 Reference made to a prior letter dated October 16, 2025.
• 👤 Muhammad Amin, Company Secretary, signed the announcement.

🎯 Investment Thesis

The announcement is neutral and does not provide enough information to change an investment thesis. A HOLD recommendation is maintained until the financial statements are analyzed.

⚡ Flash Summary

Engro Holdings Limited’s Q3 2025 analyst briefing reveals a year of strategic restructuring, including the integration of Deodar into ECPL, increasing tower sites. The group’s performance is influenced by macroeconomic progress under the IMF program. Key achievements include fertilizer sales and domestic PVC volume improvements. Profitability is affected by adjustments in thermal energy assets and changes in ownership percentages.

📌 Key Takeaways

• 1. Real GDP grew by approximately 2.68% in FY2025, falling short of the government’s 3.6% target 📈.
• 2. Monetary policy rate remains stable at 11.0%, with Pakistan’s rating upgraded to Caa1 by Moody’s 📊.
• 3. IMF agreement reached for $1.2 billion, raising disbursements to about $3.3 billion💰.
• 4. Headline Inflation increased to 5.6% in September 2025 due to high food prices 📈.
• 5. KSE-100 index hit an all-time high of 165,000 points in September, a 104% gain since September 2024 🚀.
• 6. On January 1, 2025, scheme of arrangement increased owner’s share reflects 100% ownership interest in ECORP 🤝.
• 7. Termination of SPAs reclassified assets, with a profit after tax of PKR 86,152 million 🎉.
• 8. The consolidated EPS has been tabulated by dividing the profit attributable to owners with increased number of shares ➗.
• 9. Deodar integration into ECPL increased tower sites by 10,617 🗼.
• 10. Consolidated revenue reached PKR 407 billion, against PKR 381 billion last year 👍.
• 11. Profitability was PKR 86.2 billion against PKR 24.3 billion last year ⭐.
• 12. EPS at PKR 34.89, increased from PKR 13.21 last year 💪.
• 13. Standalone dividend income decreased to PKR 537 million, from PKR 5,274 million last year 📉.
• 14. Fertilizer business delivered urea sales of 1,280 KT, down from 1,379 KT 🚜.
• 15. Polymer business delivered 174 KT domestic PVC, up from 146KT last year 🧪.

🎯 Investment Thesis

HOLD. Engro Holdings has demonstrated growth and restructuring, but faces external risks and profitability constraints in some sectors. While some indicators are positive, macroeconomic risks and varying sector performances suggest caution. Further analysis needed to provide an accurate price target.

⚡ Flash Summary

ENGROH announced: Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Reg. Basic analysis suggests neutral sentiment. Professional review recommended.

📌 Key Takeaways

• ENGROH made announcement: Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Regulations
• Automated analysis: HOLD signal detected
• Signal strength: 5/10
• This is basic analysis – manual review recommended
• Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for ENGROH. Manual verification required.

⚡ Flash Summary

ENGROH announced: Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Reg. Basic analysis suggests neutral sentiment. Professional review recommended.

📌 Key Takeaways

• ENGROH made announcement: Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Regulations
• Automated analysis: HOLD signal detected
• Signal strength: 5/10
• This is basic analysis – manual review recommended
• Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for ENGROH. Manual verification required.