Employers Federation of pakistan Awarded engro polymer Best HR practices 2018

01 February, 2019

The Employers Federation of Pakistan (EFP) has awarded Engro Polymer with Best HR Practices 2018 in Large National Companies category. The photograph shows Mr. Imran Ismail, Governor Sindh presenting the award to Mr. Salman Hafeez, HR Manager, Engro Polymer.

Bank Alfalah, Engro Polymer join hands

22 December, 2018

KARACHI : Bank Alfalah Limited (BAFL) and Engro Polymer & Chemicals Limited (EPCL) have signed MoU to design and implement customized Supply Chain Finance solution, exclusively for EPCL’s buyers. This unique initiative is a part of Bank Alfalah’s continued commitment towards financial inclusion and introducing global Supply Chain Finance (SCF) best practices in Pakistan by leveraging IFC’s international and local knowledge. The program introduces strategic value for corporate partners in strengthening supply chain networks, to EPCL buyers for meeting their working capital needs and enhancing their bottom lines besides generating consistent product ordering for EPCL. The SME segment holds critical position in Pakistan’s economic landscape through contributing over 30% of GDP and employing 90% of non-agricultural workforce. Bank Alfalah strongly believes in developing structured initiatives such as SCF programs to support SME businesses and is uniquely positioned through its wide spread branch footprint across the country. Bilal Asghar – Group Head Corporate, Investment Banking & International Business from Bank Alfalah Limited and Syed Abbas Raza – CFO from Engro Polymer & Chemicals Limited signed this strategic partnership during a ceremony held in Karachi.

JCR-VIS Assigns Initial Entity Ratings to Engro Polymer and Chemicals Limited

19 July, 2018

Karachi, July 19, 2018 (PPI-OT): JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned initial entity ratings of ‘AA-/A-1+’ (Double A Minus/A-One Plus) to Engro Polymer and Chemicals Limited (EPCL). Outlook on the assigned ratings is ‘Stable’. The assigned ratings incorporate strong market position in PVC (Polyvinyl Chloride) business, improved international dynamics of vinyl chain, cost leadership in caustic soda segment, financial and operational turnaround across key performance metrics, and robust corporate governance infrastructure. Ratings also take into account business risk of the sector given the cyclicality in business due to volatility in raw material prices. Strong financial profile and demonstrated track record of support from renowned conglomerate sponsor-Engro Corporation Limited is also a key rating driver. EPCL is the only integrated Chlor-Vinyl Chemical Complex in Pakistan; it operates in two major segments i.e. PVC and Chlor-Alkali. In PVC, the Company has a market share of ~67% while market share in Caustic Soda business hovers around 30%. Given the growing demand of PVC and opportunity in chlor-alkali segment, EPCL has announced expansion plan of Rs. 10.3b comprising capacity expansion in PVC/VCM, value addition in its Chlor Alkali business and overall efficiency enhancement projects. Assessment of business and industry risk profile incorporates healthy demand growth of PVC, which has increased at a CAGR of 11% over the last 5 years, and rationalization of international vinyl chain due to improving demand-supply situation around the globe, particularly in Asia. Nevertheless, cyclicality in business has historically remained high due to volatility in raw material prices translating into moderate to high business risk. However, the company has enhanced operational efficiencies through several interventions to minimize vulnerability of unfavourable vinyl chain dynamics. Going forward, ratings are dependent on international vinyl chain dynamics where JCR-VIS has been given to understand that limited international capacities of PVC are projected to come online relative to ethylene capacities which are expected to bode well for the Company. Financial profile draws support from strong liquidity indicators as evident from healthy cash flows in relation to outstanding obligations and favourable working capital cycle. Capitalization indicators are adequate with gearing levels having declined significantly over the last 3 years. Given growing cash flows and projected dividend payout, healthy cash accumulation is expected over the rating horizon. Despite planned expansion, leverage indicators are projected to improve given the funding mix for expansion projects and healthy internal capital generation. Going forward, ratings will continue to remain dependent on maintaining financial indicators within benchmarks for the assigned ratings.

Engro Conserves 256 Hectares (635 Acres) of Pakistan's Forest Cover

10 July, 2012

EPCL Facilitates Self-Sustainability of Flood Affectees-19th May 2011

19 May, 2011