Engro Polymer & Chemicals Limited · PSX:EPCL
Engro Polymer & Chemicals — Q1 2026 Earnings Presentation
22 slides from Engro Polymer & Chemicals's earnings presentation, May 22, 2026
Slide 1: Corporate Briefing 22nd May 2026
Corporate Briefing 22nd May 2026
Slide 2: Important Disclaimer
Engro Polymer & Chemicals Limited Important Disclaimer THIS PRESENTATION IS NOT AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL ANY SECURITIES OR ANY INVESTMENT This presentation has been prepared by Engro Polymers and Chemicals Limited (“EPCL”) solely for information purposes. No representation
Slide 3: Agenda
Agenda 1 Macroeconomic Overview 2 Global Market Overview 3 Financial Highlights 4 Business Update 5 Looking Ahead 6 Q&A www.engro.com
Slide 4: Macroeconomic Overview
Engro Polymer & Chemicals Limited Macroeconomic Overview Macroeconomic 2025 Recap Q1 2026 Performance & Outlook Indicators Real GDP growth was recorded at 3.8% in 1H FY2026 while GDP Growth Pakistan’s real GDP grew by 2.68% in FY2025 World Bank/IMF expect 3-3.2% growth during the year Inflation rose
Slide 5: Global Market Overview
Engro Polymer & Chemicals Limited Global Market Overview Poly Vinyl Chloride Chlor-Alkali & Allied Chemicals PVC CFR South Asia Caustic • PVC price fell to $716/ton in 2025 $/ton • Caustic prices remained on the amid oversupply and weak demand 949 downward trend throughout 2025 due • However, prices
Slide 6: Key Highlights – 2025
Engro Polymer & Chemicals Limited Key Highlights – 2025 Financial Highlights Revenue Profitability LPS Exports PKR 78 Bn PKR (3.9) Bn PKR (4.3) $M 1.6 3% vs LY 25x vs LY 10x vs LY 88% vs LY Scale Market Safe Total Total Capitalization Manhours Employees Assets PKR 29.6 Bn 50 Mn 694 PKR 117 Bn 6
Slide 7: Material Variance in P&L Items vs LY
Engro Polymer & Chemicals Limited Material Variance in P&L Items vs LY Cost of sales +6% due to Revenue +3% due to higher lower core delta and higher gas PVC & caustic sales and prices including off-the-grid levy commencement of HPO sales impact of PKR 2.2 Bn As a result, gross profit reduced by 27%
Slide 8: Material Variance in Balance Sheet Items vs LY
Engro Polymer & Chemicals Limited Material Variance in Balance Sheet Items vs LY Amounts in PKR Mn Overview Material Items Stock-in-trade Effective inventory management to reduce strain on working 13,830 11,141 capital 2024 19% 2025 Loans, advances, deposits, prepayments & other Total Assets 100,851
Slide 9: Financial Highlights – Last 5 years
Engro Polymer & Chemicals Limited Financial Highlights – Last 5 years Revenue (PKR Bn) EBITDA (PKR Bn) Profit After Tax (PKR Bn) 15.1 82.1 81.3 24.0 11.7 22.8 78.0 21.5 8.9 75.7 70.0 7.1 6.2 (0.16) (3.9) 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 9
Slide 10: Segment Wise Performance
Engro Polymer & Chemicals Limited Segment Wise Performance 2025 = PKR 78,017 Mn 2024 = PKR 75,708 Mn HPO, 2% REVENUE PVC, 80% PVC, 81% Chlor-Alkali, Chlor-Alkali, 19% 18% 2025 2024 PROFIT AFTER TAX 1,471 3,171 (796) (3,898) (161) (4,573) (3,331) Chlor-Alkali HPO PVC Total Chlor-Alkali PVC Total 10
Slide 11: Business Update – PVC
Engro Polymer & Chemicals Limited Business Update – PVC PVC Sales Volume (KT) Highlights Domestic Export • Achieved highest ever PVC sales of 239 KT in 2025, up by 16% YoY • Major segments like pipes and cables grew more than average market 10 18 22 6 growth due to government projects and solar tran
Slide 12: Business Update – Chlor-Alkali
Engro Polymer & Chemicals Limited Business Update – Chlor-Alkali Highlights Caustic Hydrogen Peroxide • Caustic soda sales and prices remained largely steady through the • The Company continued to strengthen its position in the local HPO year, supported by stable demand from key industries and a mar
Slide 13: Q1 2026
Engro Polymer & Chemicals Limited Q1 2026 Back www.engro.com
Slide 14: Key Highlights – Q1 2026
Engro Polymer & Chemicals Limited Key Highlights – Q1 2026 Financial Highlights Revenue Profitability EPS PKR 22 Bn PKR 0.37 Bn PKR 0.41 24% vs LY vs (0.83) Bn LY vs (0.91) LY Scale Market Safe Total Capitalization Manhours Employees PKR 28.4 Bn 51 Mn 694 14
Slide 15: Segment Wise Performance
Engro Polymer & Chemicals Limited Segment Wise Performance Q1 2026 = PKR 22,182 Mn Q1 2025 = PKR 17,866 Mn HPO, 3% HPO, 0.4% REVENUE PVC, 81% PVC, 79% Chlor-Alkali, Chlor-Alkali, 16% 21% Q1 2026 Q1 2025 PROFIT AFTER TAX 680 487 (124) 371 (825) 24 (1,380) (140) Chlor-Alkali HPO PVC Total Chlor-Alkali
Slide 16: Business Update – PVC
Engro Polymer & Chemicals Limited Business Update – PVC PVC Sales Volume (KT) Highlights Domestic Export • On PVC, we sold 26% more vs same period last year • All segments witnessed robust growth in 2026, with non-conventional 10 18 22 6 applications growing >25% and taking up a larger proportion of
Slide 17: Business Update – Chlor-Alkali
Engro Polymer & Chemicals Limited Business Update – Chlor-Alkali Highlights Caustic Hydrogen Peroxide • Caustic soda sales remained steady in Q1 2026, supported by • The Company continued to strengthen its position in the local HPO stable demand from key industries and a well-balanced domestic marke
Slide 18: Update on Gas
Engro Polymer & Chemicals Limited Update on Gas Gas Cost (PKR / MMBtu) Highlights • Levy on captive gas was imposed from 4906 March 2025 and varied throughout the year. By year end, it increased sharply to PKR 1406 1,243/MMBtu 1243 1303 4,136 • Gas levy reached a high of PKR 4,078 4,071 4,100 1,406/
Slide 19: Looking Ahead
Engro Polymer & Chemicals Limited Looking Ahead Key risks highlighted in green Focus Areas Outlook Safety • EPCL continues to lead with a strong safety culture, focusing on proactive risk mitigation and behavioral reinforcement Macroeconomic • Factors such as inflation, policy rate and exchange rate
Slide 20: Q&A
Engro Polymer & Chemicals Limited Q&A Back www.engro.com
Slide 21: Questions Received
Engro Polymer & Chemicals Limited Questions Received Questions 1. What is the current captive gas levy based on the updated formula? 2. What is the current average cost of electricity from captive gas? 3. Update on alternative power options to replace captive gas power. 4. Update on the EPCL acquisi
Slide 22: Thank you!
thank you! www.engro.com
Engro Polymer & Chemicals — Q1 2026 Earnings Presentation on 6ix