Karachi: Fatima Fertilizer Company Limited disclosed its financial outcomes for the year ending December 31, 2024, following a board meeting conducted electronically on March 13, 2025. The board has proposed a final cash dividend of Rs. 4.25 per share, augmenting the interim dividend of Rs. 2.75 per share, thereby bringing the total dividend for the year to Rs. 7.00 per share. This announcement comes at a time when the company has decided to amend the effective date for the Scheme of Compromises, Arrangements, and Reconstruction concerning its Multan Plant. The new effective date is January 1, 2025, subject to necessary regulatory approvals.
According to the financial data released, Fatima Fertilizer's sales reached Rs. 256.92 billion in 2024, up from Rs. 235.42 billion the previous year. The gross profit increased to Rs. 91.82 billion from Rs. 74.18 billion in 2023. The company reported a profit before tax of Rs. 62.83 billion in 2024, compared to Rs. 48.90 billion in 2023. The earnings per share also saw an increase, moving from Rs. 10.96 in 2023 to Rs. 17.33 in 2024.
The company's administrative and distribution costs rose to Rs. 10.44 billion and Rs. 14.41 billion, respectively. Finance costs for 2024 stood at Rs. 5.08 billion, while other operating expenses were Rs. 10.77 billion. The net profit for the year was reported at Rs. 36.39 billion, a notable increase from Rs. 23.01 billion in the previous year.
The board has also scheduled the Annual General Meeting to take place in a hybrid format on April 18, 2025. Shareholders recorded in the Register of Members by April 11, 2025, will be eligible for the declared dividend. The Share Transfer Books will remain closed from April 12 to April 18, 2025.
According to information available from the Pakistan Stock Exchange (PSX), Fatima Fertilizer's financial results reflect significant growth in key performance areas, with considerable improvements in sales, gross profit, and net profit. The company's decision to revise the effective date of the scheme concerning its Multan Plant underscores a strategic move to align its operational and financial objectives for the coming year.