KASB Securities has published its 2024 report analyzing the financial performance of Fauji Foundation’s listed companies on the Pakistan Stock Exchange (PSX). The report highlights that these companies have achieved a remarkable 149% return over the past three years, outperforming the KSE-100 benchmark index. Mari Petroleum, in particular, has reached a market capitalization of 1 trillion rupees on the PSX.
The report reveals a combined net income of Rs 767 billion, marking a 17% year-on-year increase. Mari Petroleum contributed Rs 59 billion in earnings since September 2022, while Fauji Fertilizer Company (FFC) reported Rs 54 billion during the same period. Additionally, Askari Bank and Fauji Cement Company Limited (FCCL) distributed bonus shares worth Rs 3.6 billion and Rs 2.5 billion, respectively.
In terms of return on equity (ROE), Fauji Fertilizer Bin Qasim Limited (FFBL) saw a significant improvement, with an average ROE of 16% over the last four quarters, up from just 6% in 2022. Mari Petroleum maintained a 9% ROE, while FFC improved to 17% from 14% in the previous year. FCCL, however, reported a steady 3% ROE over the same period.
The report also highlights various operational advancements within the companies. FCCL has expanded its cement production capacity to 10.6 million tons annually and is working on a solar power capacity expansion plan of 67.5 megawatts. Mari Petroleum has secured two new exploration licenses, while Fauji Fertilizer Limited (FFL) recorded its fifth consecutive profitable quarter.
FFC led the annual revenue growth at 43%, followed by Askari Bank with 21% and Fauji Fertilizer Limited at 20%. The report underscores the consistent growth of these companies across different sectors, with Mari Petroleum and FFC standing out as the most stable and profitable entities among those analyzed.
