Pakistan’s fertiliser sector is a cornerstone of the country’s agricultural productivity and food security. With rising population pressure and the need to boost crop yields, the role of fertiliser manufacturers has become increasingly critical.
Fertiliser companies are central to Pakistan’s agriculture-driven economy, and their presence on the Pakistan Stock Exchange (PSX) reflects their national importance.
As of the latest data, the fertiliser sector holds a market capitalisation of $4.6 billion, which accounts for approximately 7.1% of the total market capitalisation of $64.8 billion. Despite this relatively modest share, the fertiliser sector has made a significant impact on the stock market index, contributing around 14% to the index performance from October 2023 to date. This indicates the sector’s outsized influence on market movements relative to its market capitalisation.
In 2024, profitability of the fertiliser sector’s at the PSX stood at $489 million, as per Arif Habib Limited data.
This article profiles the top three fertiliser companies listed at the PSX, based on their market capitalisation as of September 15, 2025.
Fauji Fertilizer Company Limited (FFC) ($2,302 million)
Fauji Fertilizer Company Limited is a public company incorporated in Pakistan under the Companies Act, 1913, (now the Companies Act, 2017). The principal activity of the Company is manufacturing, purchasing and marketing of fertilisers and chemicals, including investment in other fertiliser, chemical, cement, energy generation, food processing and banking operations.
As of December 31, 2024, FFC has a total of 1,423.109 million shares outstanding which are held by 29,400 shareholders. Associated companies, undertakings and related parties (Committee of Admin Fauji Foundation) have the majority stake of 43.51 percent in FFC followed by local general public holding 25.06 percent shares.
In July, Fauji Fertilizer announced its financial results for the period ended June 30, 2025, declaring net profitably of Rs38.5 billion as compared to Rs26 billion translating into an earnings per share (EPS) of Rs27.
FFC attained aggregate urea production of 1,419 thousand tonnes and registered aggregate sales revenue of Rs155 billion in the said period. Other income of company also increased due to higher dividend distribution by associated companies.
The company declared its second interim dividend of Rs12 per share, with a total distribution of Rs19 per share for the period.
The market capitalisation of FFC at the PSX currently stands at $2,302 million.
Engro Fertilizers Limited (EFERT) ($1,028 million)
Engro Fertilizers Limited is a public company incorporated in Pakistan on June 29, 2009 as a wholly owned subsidiary of Engro Corporation Limited, which is a subsidiary of Dawood Hercules Corporation Limited. The company is engaged in the manufacturing, purchasing and marketing of fertilisers, seeds and pesticides and providing logistics services.
Engro Fertilizers posted a profit after tax (PAT) of Rs2.90 billion for the quarter ended March 31, 2025, a massive decrease of 63% as compared to Rs7.76 billion recorded in the same period last year, showed the company’s consolidated financial results posted at the PSX.
The company declared a cash dividend of Rs2.25/share for 1QCY25. The EPS stood at Rs2.17 for the said quarter, against Rs5.81 in the same period last year.
The market capitalisation of EFERT at the PSX currently stands at $1,028 million.
Fatima Fertilizer Company Limited (FATIMA) ($915 million)
Fatima Fertilizer Company Limited (PSX: FATIMA) was incorporated in Pakistan in 2003 as a result of joint venture between Fatima Group and Arif Habib Group. The company has three production plants situated at Multan, Sheikhupura and Sadiqabad.
The company is engaged in the manufacturing, buying, selling, importing and exporting of chemicals and fertilisers.
As of December 31, 2024, FATIMA has a total of 2100 million shares outstanding which are held by 11,652 shareholders. Associated companies, undertakings and related parties have the majority stake of 43.68% in the company followed by directors, CEO, their spouse and minor children holding around 31% of the company’s shares.
In July this year, Fatima Fertilizer announced decision to acquire 100% ownership of Fatima Petroleum Company Limited.
The acquisition would be done at face value, meaning FFCL would pay the original nominal value of the shares, not a market-driven or premium price, the fertiliser maker said in a notice to the Pakistan Stock Exchange (PSX) then.
The market capitalisation of FATIMA at the PSX currently stands at $915 million.
Market capitalisation for each company was calculated on Monday, September 15, 2025.
For the purpose of this calculation, the exchange rate was used at Rs282 to 1 US dollar.
The above article was contributed by Rehan Ayub, News Editor at Business Recorder (Digital), with assistance from Hussain Afzal (Graphics) and Junaid Sanawar (Data).
