Karachi: Engro Fertilizers Ltd. has initiated an unscheduled five-day maintenance shutdown at its base plant, which is anticipated to affect its urea production and earnings slightly.

According to AKD Securities Limited, the temporary closure is expected to lead to a production loss of approximately 16,250 tons of urea. This reduction in output is projected to negatively impact the company's earnings per share by PkR0.2, equating to about 1% of its projected earnings for the calendar year 2024.

Despite the anticipated short-term production setback, AKD Securities maintains a neutral stance on Engro Fertilizers' shares, with a target price set at PkR176 per share by June 2025 and an expected dividend yield of 15% for the calendar year 2024.