Corporate earnings of EFERT, SAZEW & UBL
EFERT reported a 60% QoQ decline in earnings, primarily due to lower sales volumes
Shahbaz Ashraf
Business Consultant
Seasoned Investment Professional | CFA | 17+ Years of Experience in Equity Research, Valuation & Advisory Seasoned investment professional with over 17 years of experience in equity research, financial analysis, valuations, and investment advisory—primarily focused on financial services firms, including equity brokerages, asset management companies, and family offices. Skilled in financial modeling, portfolio management, and evaluating multi-asset investment opportunities. Known for delivering data-driven insights and actionable strategies tailored to both institutional and private clients. Holds a BBA and MBA in Finance from the Institute of Business Management (IoBM), Karachi, and is a Chartered Financial Analyst (CFA).
In this episode of Stock Watch, powered by Chase Securities and Bank of Punjab, Nukta’s Shahbaz Ashraf and Moiz Ur Rehman break down the latest financial results of Engro Fertilizers Limited (EFERT), Sazgar Engineering Works Limited (SAZEW), and United Bank Limited (UBL).
EFERT reported a 60% QoQ decline in earnings, primarily due to lower sales volumes. In contrast, SAZEW delivered a strong performance, driven by robust volumetric growth and improved margins. UBL outperformed expectations, supported by PKR 30 billion in capital gains and a sequential increase in net interest income.
Looking ahead, UBL is expected to maintain strong earnings momentum along with attractive dividend payouts in CY2026.








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