Engro Polymer Chemical Limited (EPCL) ne kal 1QCY23 ke results or outlook par discuss ke liye apni Corporate Briefing ka intezaam kiya. Recall ke liye 1QCY23 ke liye Company ne 1.2 Bn (EPS Rs. 1.30) Earnings ki report di, jo ke QoQ basis par 75% kam hai. Js Research ki report se kuch ehem nakat.
1QCY23 ke doran Profit basically low volume 4QCY22 mein (52KT vs 67KT) or core delta mein US$ 447/ton mein sequential improvement ke bawajood, exchange se related losses ki waja se kam huwa.
Local market mein girte hue volume ka muqabla karne ke tor par, Company sales mix mein exports ka hisa barhane ke liye kam karhhi hai.
EPCL quarter ke doran SSGC ke sath 23rd Jan se 23ed Feb tak agreement ke tehet RLNG par chal raha tha jo quarter ke doran margin par kam tha. Changes ka impact core delta par US$-100/ton ke equal tha. Is ke bad se company dobara natural gas ki production ke liye waps agai hai.
Quarter ke first 2 months mein International PVC prices mein izafa dekha gaya basically India mein restocking activity ki waja se us ke bad declining trend is waqt huwa jab, India China ki taraf expectations se kam demand ke sath zarorat se zyada supply mein chala gaya or Ethylene prices Global Economic ke slowdown ke dermiyan rahi.
Management ne peshgoi ki hai ke PVC PRICES 2QCY23 ke end Tak US$1000-1100/TON ki had mein settle hojaen gi, kyun ke China mein demand ki recovery hai.
HTDC or H202 projects Mulk mein low reserve situation se paida hone wale payment issues ke sath chal rahe hain, taham expected hai Projects end of CY23 ya CY24 ke start tak complete hojaen gay.
Points taken from JS Research Report.
