In addition to the Phosphates business, concessionary pricing added to the year-on-year growth in gross profit. Furthermore, financial charges decreased by PKR 1,998 million to PKR 4,627 million.

The Specialized Tea Creamer category witnessed multiple players jockeying for market share through heavy trade discounting as well as the entry of a new competitor backed by significant brand investment. Despite these challenges, Tarang remained steady on its path of growth, registering double digit growth on key SKUs.

The company is also currently running a commercial pilot to assess the consumer staples market. The company under this commercial pilot launched consumer staples brand for wheat, Onaaj, in end August.

Major financing agreements for SECMC and ETPL were executed on December 21, 2015. Financial close and disbursement of loan is expected after execution of security documents, issuance of guarantee and completion of legal formalities.

In 2015, domestic PVC market size stood at 179 KT. The company witnessed substantial volumetric growth in sales which was primarily driven by increased penetration in the domestic market and import substitution.