FrieslandCampina Engro Pakistan Limited
By PSX Investors Zone · Updated October 23, 2026
FrieslandCampina Engro Pakistan Limited (PSX: FCEPL) is a Pakistani dairy and consumer-products company that manufactures, processes and markets dairy-based products and frozen desserts. Its well-known brands include Olper’s, Tarang and Omore. For FY2025, FCEPL reported net sales of approximately Rs. 104.45 billion, profit after tax of Rs. 2.69 billion and earnings per share of Rs. 3.51. In the six months ended June 30, 2026, the company reported net sales of approximately Rs. 58.86 billion and profit after tax of Rs. 4.40 billion. FCEPL appeared as Shariah-compliant in the PSX-KMI All Share screening information for the period ended December 31, 2025, effective June 5, 2026. Investors should verify the latest screening status because classifications can change. **Important:** The PSX company page displays a Risk Warning Alert concerning continuous violation of specified listing-regulation clauses and the risk of trading suspension or delisting. Review the latest official PSX notice and company announcements before making investment decisions.
Company Overview
FrieslandCampina Engro Pakistan Limited (FCEPL) is a Pakistan Stock Exchange-listed company operating in the dairy and consumer-products industry. Incorporated in 2005, the company was initially launched as Engro Foods. In 2016, a strategic partnership with Royal FrieslandCampina connected its Pakistani operations with an international dairy group.
The company manufactures, processes and markets dairy-based products and frozen desserts. It also operates a dairy farm. Its business relies on milk procurement, processing, product quality, distribution, brand strength and consumer demand.
Business Activities and Brands
FCEPL's business includes dairy-based products and frozen desserts. Its major brands include:
- Olper’s: Packaged dairy products, including milk and cream.
- Tarang: A tea-whitener brand.
- Omore: Ice cream and frozen desserts.
The company operates in a competitive market influenced by consumer purchasing power, informal milk supply, packaging expenses, energy costs, taxation and the price of raw milk.
Official website: https://www.frieslandcampina.com/pk/
Financial Performance
FY2025 Results
According to standardized financial information published by the Pakistan Stock Exchange, FCEPL reported the following results for the year ended December 2025:
| Financial measure | FY2025 |
|---|---|
| Net sales | Approximately Rs. 104.45 billion |
| Profit after tax | Approximately Rs. 2.69 billion |
| Earnings per share | Rs. 3.51 |
For FY2024, PSX data reported net sales of approximately Rs. 107.05 billion, profit after tax of Rs. 2.20 billion and EPS of Rs. 2.87. This indicates improved reported profitability despite lower annual sales.
First-Half 2026 Results
For the six months ended June 30, 2026, the company reported:
| Financial measure | H1 2026 | H1 2025 |
|---|---|---|
| Net sales | Rs. 58.86bn | Rs. 52.49bn |
| Gross profit | Rs. 13.03bn | Rs. 9.78bn |
| Operating profit | Rs. 7.29bn | Rs. 4.73bn |
| Profit after tax | Rs. 4.40bn | Rs. 1.32bn |
| EPS | Rs. 5.74 | Rs. 1.72 |
The interim results indicate higher sales and profitability compared with the corresponding period of 2025. However, investors should review the full interim report to understand the drivers of growth and determine whether the performance is sustainable.
Official sources:
- PSX company profile: https://dps.psx.com.pk/company/FCEPL
- Company quarterly reports: https://www.frieslandcampina.com/pk/quarterly-reports/
Shariah Compliance Status
FCEPL appeared as compliant in the PSX-KMI All Share screening information for the period ended December 31, 2025, effective June 5, 2026. The screening information reported:
- Debt-to-assets ratio: 5.92%
- Non-compliant investments-to-assets ratio: 0.37%
- Non-compliant income-to-revenue ratio: 0.11%
- Illiquid assets-to-total-assets ratio: 78.10%
These ratios relate to the stated screening period and should not be presented as newly calculated figures from the June 2026 financial statements. Investors should consult the latest official PSX-KMI screening publication and applicable methodology before relying on the classification.
Official PSX Islamic indices information: https://www.psx.com.pk/psx/product-and-services/indices
Important PSX Risk Warning Alert
The PSX company page displays a Risk Warning Alert stating that FCEPL is in continuous violation of specified listing-regulation clauses, 5.11.1 or 5.11.2, and faces a risk of suspension of trading or delisting from the Exchange.
Investors should treat this alert as a material risk factor. Review the latest official PSX notice and company announcements to determine the precise issue, any corrective action taken and the current regulatory status. Shariah screening eligibility does not remove exchange-regulation or trading risks.
Official reference: https://dps.psx.com.pk/company/FCEPL
Dividends and Shareholder Returns
FCEPL's interim financial statements record a final dividend of Rs. 3.50 per share for FY2025 and a final dividend of Rs. 2.80 per share for FY2024.
Past dividends do not guarantee future distributions. Investors should verify current board announcements, entitlement dates and payment status through official company disclosures and PSX notices.
Key Factors to Monitor
Revenue growth: Track sales performance, product volumes and demand across dairy products and frozen desserts.
Profit margins: Monitor milk procurement, packaging, energy, logistics, marketing and tax costs.
Consumer demand: Changes in household purchasing power can affect demand for branded packaged dairy products.
Competition: Competition from other packaged brands and loose milk may influence pricing and market share.
Cash flow: Compare reported earnings with operating cash flow, working-capital requirements, debt and capital expenditure.
Regulatory status: Check the PSX Risk Warning Alert and related disclosures before drawing conclusions about the stock.
Shariah screening: Verify the most recent official classification because compliance status can change after index recompositions.
Frequently Asked Questions
What is FCEPL's PSX symbol?
The company's Pakistan Stock Exchange symbol is FCEPL.
What does FrieslandCampina Engro Pakistan do?
It manufactures and markets dairy-based products and frozen desserts and also operates a dairy farm.
Which brands are associated with FCEPL?
Its major brands include Olper’s, Tarang and Omore.
Is FCEPL Shariah-compliant?
It appeared as compliant in the PSX-KMI All Share screening information for the period ended December 31, 2025, effective June 5, 2026. Verify the latest official screening result before investing.
How did FCEPL perform in H1 2026?
For the six months ended June 30, 2026, it reported net sales of approximately Rs. 58.86 billion, profit after tax of Rs. 4.40 billion and EPS of Rs. 5.74.
Does FCEPL have a PSX risk warning?
Yes. The PSX company page displays a Risk Warning Alert relating to specified listing-regulation violations and the possibility of trading suspension or delisting. Investors should review the latest official notice.
Official Sources
- PSX company information: https://dps.psx.com.pk/company/FCEPL
- FrieslandCampina Pakistan: https://www.frieslandcampina.com/pk/
- Company quarterly reports: https://www.frieslandcampina.com/pk/quarterly-reports/
- PSX Islamic indices: https://www.psx.com.pk/psx/product-and-services/indices
Financial results and Shariah screening information are period-specific. Consult the latest company disclosures, PSX notices and applicable screening publications before making investment decisions.
This profile is for educational purposes and is not a recommendation to buy or sell any security.