KARACHI, Jan 27: It’s the reporting season. And meetings of Board of directors (BOD) of as many as 92 companies are scheduled to be held in the remaining four days of the current month; mainly to announce the financial figures.

The fresh crop of results would predominantly pour out from the textile (spinning, weaving and composite) companies, which would announce numbers for the full year to September 30, 2002 or the first quarter ended December 31, 2002 or both. Many of the companies in the sector are the laggards, but investors would probably be looking forward to the results from Gul Ahmed; Blessed; Bhanero; Faisal Spinning; Thal industries; Star Textile; Gulshan spinning; Nishat (Chunian); Nakhshbandi; Gulistan Textile; Gulshan Spinning and the units of the Dewan group: Dewan Mushtaq; Dewan Khalid and Dewan Textile Mills.

Nishat Mills—one of the giants in the sector— primarily producing for exports, mainly yarn, grey cloth and fabric and finished home textiles, would come up with financial results on Tuesday. The company’s profitability had been impacted by the global slowdown after 9/11 and purchases of cotton at higher levels before they dived in the season 2002.

Financial results from the two top competitors in the fertilizer sector: Fauji Fertilizer Company Limited and Engro Chemical Limited, are due the same day on Wednesday. Analysts expect both companies to be able to post improved earnings, though it would have to be seen whether the producers are able to maintain margins given the rising costs of inputs. The Fertilizer Policy 2001, set out a time frame for a reduction in feed gas subsidies due to which there would be a 2.5 per cent increase in feed-gas costs in July 2003; the 5 per cent increase last July was passed on to consumers. Analysts said that the outlook for financial year 2003 depended upon the availability of water.

Unilever Pakistan, which would unveil full year 2002 results on Wednesday, is forecast to post around Rs2 billion in after-tax profit, which would be a marked increase of over 50 per cent compared with the 2001 profit. Analysts say that the fast moving consumer good producing (FMCG) giant could have benefited from the appreciating rupee, since the company imports most of its raw materials. Unilever has already paid interim dividend at Rs58 per share and the final is expected to range between Rs77 to Rs82 per share; the company had distributed more than 100 per cent of its profit as cash dividend for the last two years.

A bevy of corporate results would emerge from sugar companies between Tuesday and Thursday. These would include from Mirpurkhas Sugar; Baba Farid; Fecto; JDW; Shakarganj; Al-Asif; Shahmurad; Al-Noor; Husein; Tandlianwala; Habib; Mehran; Haseeb Waqas; United; Nakshbandi and Dewan Sugar Mills. Ibrahim Fibres—one of the three giants in the PSF industry (Dewan Salman Fibre and ICI being the other two)— would release results on Wednesday. The company had posted after tax profit of Rs533 million in financial year 2002, while some analysts forecast figures of Rs610-640 million for the current year.

Exide and the Automotive Battery Company—the two auto battery producers of the same group that command major part of the market share—would announce quarterly accounts ended December 31, 2002, on Tuesday.