Engro Fertilizers Limited (PSX: EFERT) Friday said that the scheduled maintenance activity of its EnVen Plant (Plant-II) will take place from April 21, 2024, till June 14, 2024.
In a notice to the Pakistan Stock Exchange (PSX), the company said that this essential planned maintenance activity will ensure long-term reliability and sustainable safe operations of the EnVen Plant.
In a note, JS Global said that the cost incurred on it has been capitalized and there would be no cash flow impact.
JS further said that the absence of production from EnVen would impact the annual offtake by around 200k tons. While this would result in an earnings impact of around Rs. 3.7/share, the maintenance is already part of its base case, JS added. The note further said that it expects the company’s CY24 EPS/ DPS at Rs. 25/ Rs. 25.5, respectively, computing to D/Y of 18 percent.
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