Engro Fertilizers, Pakistan’s leading seed-to-harvest solutions provider, achieved its highest-ever profit of Rs. 26.2 billion for the calendar year ending December 31. The record profit was attributed to increased urea production of 2.3 million tons, supported by long-term reliability projects, cost optimization, efficient working capital management, and higher interest income.
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Engro Fertilizers played a crucial role in ensuring affordable and abundant supplies for farmers, contributing to the country’s food security. Despite challenges such as tough macroeconomic conditions, higher super tax, and gas price hikes, the company continued to perform well.
The urea production of Engro Fertilizers increased by 18.3% compared to 2022, reaching 2.32 million tons, with a market share of 35%. The company’s contributions to the national exchequer in 2023 included nearly Rs. 34.7 billion in government taxes, duties, and levies, showcasing its significant economic impact and role in import substitution.
Engro Fertilizers has been actively supporting the government’s initiatives to curb urea hoarding for market price manipulation, enhance crop productivity, and increase farmer profitability.
