Tag Archives: Engro

Engro caps 2010 with record profit

Engro caps 2010 with record profit

KARACHI – The Board of Directors of Engro Corporation Limited has announced the achievement of the Company’s highest ever profit after tax (PAT) of Rs 6.8 billion for the year ended December 31, 2010. In the case of 2010, the consolidated revenue stood at Rs 79.9 billion for the year ended December 31, 2010, as compared to Rs 58.2 billion in 2009.
The company announced earnings per share (EPS) of Rs 20.72 for 2010, as compared to an EPS of Rs 12.24 in 2009. A final cash dividend

Engro plans authorised capital of Rs 4.5 billion

KARACHI – The Engro Corporation Limited (ECL), one of the largest conglomerates listed at Karachi Stock Exchange, is planning to increase the company’s authorised capital by Rs 1.0 billion to Rs 4.5 billion. The fertiliser and power giant had calculated its existing authorised capital at Rs 3.5 billion as of December 31, 2010.
The ECL has notified its shareholders at the country’s three bourses in Karachi, Islamabad and Lahore about the company’s intention to increase its

Engro secures acquisition of ASH

KARACHI – The Engro Corporation Limited (ECL) has announced the acquisition of Al Safa Halal (ASH) at an initial cost of $15 million. To this effect, ECL revealed that it had signed an agreement with the ASH for the acquisition, the materialisation of which, however, would be subject to the requisite approval of regulatory bodies and closing of the agreement with the sellers.
“The company has signed agreement with Al Safa Halal to purchase its halal food business,” the ECL

Engro floats first OTC listing on KSE

KARACHI – The country’s capital market witnessed its first over-the-counter (OTC) market listing as the fertiliser giant, Engro Fertilisers Limited (EFL), floated private commercial papers worth Rs 1.0 billion at Karachi Stock Exchange (KSE) to raise proceeds from the corporate sector to cater its working capital requirements.
The KSE Wednesday enlisted the EFL’s first ever security on OTC market by listing of the privately placed commercial papers valued at Rs 1.0 billion under

ENGRO EXELLENCE AWARD 2011

KARACHI – Engro Corporation Limited held a grand ceremony to celebrate and recognise the accomplishments of eminent Pakistanis chosen as the winners of the first Engro Excellence Awards 2010. The winners of the first edition are Abdul Sattar Edhi for Social and Humanitarian Services, Dr Atta-ur-Rehman for Physical and Applied Sciences and Mushtaq Ahmad Yousufi for Literature.Asad Umar, President and Chief Executive, Engro Corp highlighted,
“Pakistan has a reservoir of talent,

Engro awards social figures

KARACHI – Engro Corporation Limited honored with civilian excellence awards and a cash prize three stalwarts in the fields of social and humanitarian services, literature and natural and applied sciences.
A prestigious and well-attended ceremony, hosted by ECL at Mohatta Palace at the weekend, marked the first Engro Excellence Awards 2011. Abdul Sattar Edhi, Dr Atta-Ur-Rehman and Mushtaq Ahmed Yousfi were declared winners of the first edition of the excellence awards for their

Govt seeks explanation from Engro on urea price hike

ISLAMABAD – Taking strict notice of a massive price hike of Rs 190 per bag of urea by the largest urea manufacturer in the country, Engro Fertilisers, the government has sought an explanation from the manufacturer. A spokesman of the ministry of industries said that under directives of the minister for Industries Mir Hazar Khan Bijarani, the ministry has taken a serious notice of a unilateral increase in the urea price of Rs 190 per 50 kg bag by Engro Fertilisers Limited.
There

MCB collaborates with Engro Corporation on Rupiya scheme

Karachi: MCB Bank Limited & Engro Corporation signed an agreement appointing MCB as a distributor for Engro’s Rupiya Certificates (ERC) issue of Rs four billion. This initiative was spearheaded by the Bank’s Investment Services Department that is currently involved in the delivery of various mutual funds and investment services and has grown over the last year to become Pakistan’s largest mutual fund distributor to retail customers in terms of sales volume.
Under this agreement

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