Pakistan’s fertiliser sector has long been central to supporting the country’s agriculture-based economy, ensuring food security, and enabling higher crop yields for a growing population. This importance is also reflected on the Pakistan Stock Exchange (PSX), where the sector maintains a strong position among listed companies.
As of September 15, 2025, the fertiliser sector holds a market capitalisation of $4.6 billion, making up 7.1 percent of the PSX’s total capitalisation of $64.8 billion. Despite its relatively modest share of the overall market size, the sector’s impact on index performance has been outsized. From October 2023 to date, fertiliser companies have contributed approximately 14 percent to PSX’s performance, underscoring their importance in shaping market direction.
In 2024, the fertiliser sector generated profitability of $489 million, according to data from Arif Habib Limited. Below is a closer look at the top three fertiliser companies listed at PSX by market capitalisation.
Fauji Fertilizer Company Limited (FFC) – $2,302 million
Fauji Fertilizer Company Limited remains the market leader in Pakistan’s fertiliser industry. Incorporated under the Companies Act, its core business is the manufacturing, purchasing, and marketing of fertilisers and chemicals, while also holding investments in cement, energy, food processing, and banking.
As of December 31, 2024, FFC had 1,423.109 million outstanding shares held by more than 29,000 shareholders. The Fauji Foundation remains the largest shareholder, with a 43.51 percent stake, followed by local retail investors holding over 25 percent.
For the first half of 2025, FFC posted a net profit of Rs38.5 billion, a sharp increase from Rs26 billion in the same period last year. Earnings per share stood at Rs27, supported by aggregate urea production of 1,419 thousand tonnes and sales revenue of Rs155 billion. The company also declared its second interim dividend of Rs12 per share, bringing total distribution to Rs19 per share.
Engro Fertilizers Limited (EFERT) – $1,028 million
Engro Fertilizers Limited, a subsidiary of Engro Corporation Limited, ranks second on the PSX. Established in 2009, EFERT operates in fertilisers, seeds, pesticides, and logistics.
In its first quarter of calendar year 2025, EFERT reported profit after tax of Rs2.9 billion, representing a 63 percent drop compared to Rs7.76 billion in the same period last year. The company announced a cash dividend of Rs2.25 per share for the quarter, with earnings per share at Rs2.17 compared to Rs5.81 previously.
Despite short-term profitability pressures, EFERT continues to hold significant weight on the exchange, with its market capitalisation standing at $1,028 million.
Fatima Fertilizer Company Limited (FATIMA) – $915 million
Fatima Fertilizer Company Limited, established in 2003 as a joint venture between the Fatima Group and Arif Habib Group, ranks third on the list. The company operates three plants in Multan, Sheikhupura, and Sadiqabad and engages in the manufacturing, importing, and exporting of fertilisers and chemicals.
As of December 31, 2024, the company had 2,100 million shares outstanding, held by more than 11,600 shareholders. The largest shareholders include associated companies with a 43.68 percent stake and directors and their families with about 31 percent.
In July 2025, FATIMA announced its decision to acquire full ownership of Fatima Petroleum Company Limited at face value. The move is expected to diversify the company’s portfolio further while strengthening its vertical integration.
With a market capitalisation of $915 million, Fatima Fertilizer continues to be a major player on PSX and an important contributor to Pakistan’s agriculture sector.
The market capitalisation values of these companies were calculated on September 15, 2025, using an exchange rate of Rs282 to one US dollar. Together, the three fertiliser companies highlight the sector’s resilience and its significant role in supporting Pakistan’s stock market and agriculture-driven economy.
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