Karachi: Engro Powergen Qadirpur Limited (EPQL) has announced its audited financial results for the year ending December 31, 2025, revealing a notable decrease in revenue and profit. The Board of Directors, in their meeting on February 4, 2026, approved the results and declared a final cash dividend of Rs. 1.25 per share, adding to the interim dividends already distributed, bringing the total payout to Rs. 11.75 per share for the year.
Sales revenue diminished to PKR 11,889 million from PKR 13,250 million the previous year, owing to a major scheduled outage and a shift to a hybrid take-and-pay model, the company reported. Consequently, the gross profit dropped to PKR 1,314 million from PKR 2,800 million, while net profit plummeted to PKR 838 million compared to PKR 2,141 million in 2024, resulting in earnings per share of PKR 2.58.
According to information available from the Pakistan Stock Exchange (PSX), EPQL's financial trajectory reflects the broader economic context, marked by a structural shift in the power sector towards indigenous and renewable energy sources. Despite economic recovery characterized by low inflation and modest growth, electricity demand remained largely decoupled from GDP growth, which was recorded at 2.7% for the fiscal year.
The company achieved a billable availability factor of 100% in 2025, dispatching a total net electrical output of 774 GWh, albeit with a load factor reduction to 42% due to scheduled maintenance. EPQL's operational strategy remains underpinned by its primary objective of power generation through a 217.3 MW combined cycle power plant near Qadirpur, utilizing permeate gas.
The firm's financial health was bolstered by a bullet payment of PKR 7.4 billion received in early 2025, which significantly reduced overdue receivables from PKR 6.6 billion to PKR 1.0 billion by year-end. This payment formed part of a broader government intervention, which injected Rs 780 billion into the sector, slashing circular debt by 33% to Rs 1.6 trillion.
EPQL's commitment to safety and environmental compliance was demonstrated by achieving zero Lost Work Injury for the 16th consecutive year and scoring 96% in NEPRA's HSE Performance Evaluation, ranking 7th among 149 licensees. The company also renewed its ISO 14001 and ISO 45001 certifications and conducted a second-party AWS gap analysis.
In corporate social responsibility, EPQL continued its community investments through the Engro Foundation, focusing on education and healthcare. It supported medical treatment for 7,517 patients and education for over 900 students in district Ghotki, with a significant emphasis on female students.
As financial control measures become increasingly crucial under the hybrid model, EPQL has prioritized cost optimization to mitigate inflationary pressures, a strategy that will persist as a focal point for management. The company also remains committed to enhancing its gas supply, having signed agreements for additional fuel sources, with a goal to increase its load factor significantly.
EPQL's strategic initiatives, underpinned by a robust risk management framework, aim to align with the United Nations Sustainability Development Goals and Environmental Protection Agency requirements, ensuring sustainable and ethical operations. The company's dedication to diversity, equity, and inclusion further underscores its commitment to fostering an equitable and diverse workplace.
With Engro Energy Limited holding a majority shareholding of 68.89%, EPQL continues to engage with stakeholders to ensure liquidity and operational stability amid evolving market dynamics. The forthcoming annual general meeting is scheduled for March 25, 2026, at Karachi, where further insights into the company's strategic direction will be shared.