Qudsia Bano

The sales of Agritech Limited, a fertilizer maker, increased 126% to Rs12 billion in the first nine months of calendar year 2022 (9MCY22) from Rs5 billion in the corresponding period of last year. Similarly, the company recovered from an operating loss of Rs946 million in 9MCY21 and posted an operating profit of Rs566 million in 9MFCY22, registering a growth of 160%. The company also managed to reduce its net loss to Rs2.4 billion during 9MCY22 from Rs2.7 billion in the corresponding period of CY21, showing a 12% decrease in loss year-on-year, reports WealthPK.

Performance in 2021

During the calendar year 2021, the company maintained a strong sales trend, generating revenue of Rs10.1 billion against Rs5.7 billion in CY20, posting an increase of 77% year-on-year.   The company managed to significantly reduce its operating loss in CY21 to Rs212 million from Rs1.5 billion in CY20. It also managed to reduce its loss-after-tax to Rs2.6 billion in CY21 from Rs4.3 billion in CY20, posting a 38% decrease in loss.

Pattern of shareholding

As of December 31, 2022, associated companies held 27.0149% of the company’s total shares. Individuals held 25.6185% of the shares, financial institutions 19.7832%, related parties 19.0085%, investment companies 2.8938%, joint stock companies 1.6055%, mutual funds 1.5519% and ‘others’ 1.8752%, respectively.

Earnings Per Share

The earnings per share of the company remained negative from 2018 to 2021, reflecting the losses suffered by the firm during these years.

About the company

Agritech Limited was incorporated in Pakistan on December 15, 1959 as an unlisted public limited company under the Companies Act, 1913, which was later replaced with the Companies Act, 2017. The principal business of the company is production and sale of urea and granulated single super phosphate fertiliser.

Credit : Independent News Pakistan-WealthPk