Engro Powergen Qadirpur Posts Strong Profit Growth in First Quarter of 2026
Engro Powergen Qadirpur Limited (EPQL) reported a significant improvement in its financial performance for the quarter ended March 31, 2026, with the company recording a profit for the period of Rs384.6 million.
According to the financial results approved by the company’s Board of Directors, revenue during the quarter reached Rs3.15 billion, compared with Rs3.09 billion in the same period last year. However, the company’s cost of revenue also increased to Rs2.88 billion from Rs2.63 billion.
The company reported gross profit of Rs467.2 million, substantially higher than the Rs270.9 million recorded in the first quarter of 2025. Profit from operations, however, stood at Rs159.5 million compared with Rs358.8 million a year earlier.
EPQL posted profit before taxation of Rs152.7 million for the quarter. After taxation, the reported profit for the period was Rs384.6 million, while earnings per share stood at Rs0.47. The financial statements also reported no other comprehensive income during the period.
Financial Position
The company’s total assets stood at Rs15.75 billion as of March 31, 2026, compared with Rs16.05 billion at the end of December 2025. Current assets increased to Rs6.38 billion, supported by higher trade debts, inventories and short-term investments.
Total equity stood at Rs11.38 billion, while total liabilities amounted to Rs4.12 billion. Short-term borrowings increased from Rs2.13 billion at December 31, 2025, to Rs2.59 billion at the end of the first quarter.
No Fresh Dividend Announced
For the quarter ended March 31, 2026, the Board recommended no cash dividend, bonus shares, right shares or other corporate entitlement. The company stated that its quarterly report would be transmitted through PUCARS and made available on its website.
The statement of changes in equity shows that EPQL had paid a final dividend of Rs1.25 per share for the year ended December 31, 2025, amounting to Rs404.75 million.
Cash Flow Remains a Key Area to Watch
Cash flow figures show that the company generated negative Rs195.0 million in net cash from operating activities during the quarter, compared with positive Rs5.75 billion in the corresponding period of 2025.
The company also recorded net cash used in investing activities of Rs15.9 million. Financing activities resulted in a net cash outflow of Rs59.2 million, including dividend payments of Rs404.8 million. Overall, cash and cash equivalents decreased by Rs270.1 million during the quarter.
Overall, Engro Powergen Qadirpur entered 2026 with stronger gross profitability but faced pressure from operating cash flows and higher short-term borrowings. The first-quarter results provide investors with a mixed picture, highlighting improved gross profit alongside weaker operating cash generation and a lower reported earnings-per-share figure compared with the same period last year.
