Agritech Limited (AGL) reported loss per share of PKR 2.72 for CY24, compared to earnings per share of PKR 2.77 in CY23. Furthermore, in 3QCY25, the company loss earnings per share of PKR 0.07, compared to loss per share of PKR 2.00 in the same period last year (SPLY).
The company’s production footprint includes a urea manufacturing facility with an installed capacity of 433,000 tonnes per annum and an SSP plant with an annual production capacity of 81,000 tonnes. Management maintains a positive industry outlook, supported by government interventions such as the Kisan Card and Hari Card, alongside improving farm economics. Management expects industry offtake for 2025 to be approximately 6.3 million tonnes.
Looking ahead, offtake for 2026 is expected to be slightly higher than in 2025, reflecting continued improvement in farm economics. On the gas supply front, the company expects to secure permanent gas supply from Mari, although this transition will take time. The pricing framework for Mari gas will be based on Petroleum Policy 2012 (PP-12) along with applicable SNGPL tolling charges.
The modifications and qualifications in the Auditors’ Report were removed in June, which management attributed to consistent gas supply and sustained performance across both top-line and operating profit margins. The government is scheduled to review the broader gas supply and fertilizer situation in mid December. The company has also allocated CAPEX to improve production and energy efficiency at the urea plant, and management noted that an expansion of the SSP plant is also being planned.
Important Disclosures
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