Company:Dawood Hercules Corporation

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Short description: Publicly listed company in Pakistan

[ ⚑ ] 24°50′45″N 67°01′23″E / 24.8459°N 67.0231°E / 24.8459; 67.0231

Dawood Hercules Corporation
TypePublic
Template:Karse
ISIN[https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language=en&isin=PK0017501013 PK0017501013]
IndustryConglomerate
Predecessors
  • Dawood Hercules Chemicals Ltd. (1968-2011)
Founded17 April 1968; 56 years ago (17 April 1968)
FounderAhmed Dawood
HeadquartersDawood Centre, M.T. Khan Road, Karachi
Area served
Pakistan
Key people
Hussain Dawood (Chairman)
Inam ur Rahman (CEO)
RevenueIncrease Template:Pakistani Rupee249 billion (Template:PKRConvert/USD) (2020)
Increase Template:Pakistani Rupee42 billion (Template:PKRConvert/USD) (2020)
Total assetsIncreaseUS$1.7 billion[1] (2021)
Total equityIncrease Template:Pakistani Rupee232 billion (Template:PKRConvert/USD) (2020)
Number of employees
2,799 (December 2020)
SubsidiariesEngro Corp
Empiric AI

Dawood Hercules Corporation Limited (Urdu: داؤد ہرکولیس کارپوریشن‎, DH Corp.) is a publicly listed investment and holding company headquarterd in Karachi, Pakistan . It operates two subsidiaries, Engro Corporation and EmpiricAI.[2][1]

History

Fertiliser Factory in Chichoki Mallian, Sheikhupura District.

In 1968 Dawood Hercules Chemicals Ltd. was formed as a joint venture between DH fertilizer limited and the American company Hercules Inc.[3] The fertilizer plant in Chichoki Mallian, Sheikhupura, Punjab was constructed in 1969. This was the first private sector venture to receive a loan from the World Bank. The factory was the largest ammonia/urea plant in the country at the time.

Dawood Hercules Chemicals remained as a joint venture between the family-driven business and the American partners for over 20 years until the majority takeover in 1990.

In 1997 the Dawood Hercules Chemicals began equity investments in Engro Corporation, and 27% of its shares were acquired.[4]

In 2002 the company expanded its long-term investment in the Engro Corporation. Since then, at least 37% of the shares of Engro are held by DH Corp.[5]

In 2003, the company invested in shares of Sui Northern Gas Pipeline and owned up to 10% of it.[6]

In 2011, the company's fertilizer manufacturing business encountered problems due to the strain in Pakistan's gas supply.[7] It undertook a failed sale of DH Fertilizers to Pakarab Fertilizers.[7] The Dawood Hercules Chemicals was de-merged and became Dawood Hercules Corporation (DH Corp.), a holding company which focuses on investments and Dawood Hercules Fertilizers.[8]

In 2012 DH Corp. acquired shares of Hub Power Company (HUBCO), the first and largest independent power producer in Pakistan with a power generation capacity of 2920 MW.[9]

In 2015, DH Corp. sold its fertilizer manufacturing company to the Fatima Fertilizer Company.[10] The shares of Hubco were sold in 2018.[11]

Leadership

DH Corp.'s board of directors, according to Pakistan's Companies Act of 2017,[12] comprises 6 non-executive, 3 independent, and 1 executive director.

Inam ur Rahman joined DH Corp.'s board in December 2016 as company's chief executive officer.[13]

Chairman of the board of directors:

  • Ahmed Dawood, 1968 - 2002
  • Hussain Dawood, 2008 - present

Vice Chairman of the board of directors:

  • J. M. Eagen, 1973
  • Gordon M. Hoffmann, 1975 - 1979
  • Walter H. Duncan, 1981 - 1988
  • Arden B. Engebretsen, 1989 - 1990
  • Shahzada Dawood, 2018 - 2022[14]
  • Abdul Samad Dawood, since 2023 - present[15]

Shareholding

DH Corp. is a public listed family-owned company on the Pakistan Stock Exchange (PSX). It is traded on the PSX under the symbol DAWH. The number of shares of DAWH are 481,287,116.[16] It has received domestic entity rating by the Pakistan Credit Rating Agency Limited (PACRA), Long Term: AA and Short Term: A1+.[17] DH Corp. is one of four companies that collectively control 19.3% of the total market capitalization on the Pakistan Stock Exchange (PSX).[18]

Subsidiaries

DH Corp. directly governs financially and operationally over its two subsidiaries, Engro Corporation and EmpiricAI, and holds, through the majority of voting rights, the decision-making power at the companies' boards of directors.[19]

Engro Corporation is a conglomerate with subsidiaries itself. Its activities span from production of fertilizers, foods, chemicals to energy, petrochemicals and telecommunication infrastructure.

EmpiricAI, founded in June 2020, develops Industrial Internet of Things (IIoT) and Artificial intelligence for the industrial sector.[20]

Associated companies

Through common directorship of DH Corp. are the following companies associated with it:[21]

Inbox Business Technologies had initially started its operations as a computer assembly business in 2001. Inbox has partnerships with leading global IT companies which include Huawei, Oracle, and Microsoft corporation. It is the largest domestic revenue-generating IT company.[22]

Dawood Lawrencepur Limited (DLL), used to be a leading textile company with factories in Burewala and Karachi but shut its textile business and was restyled in 2004[23][24] to become a holding company for two renewable energy projects.[25]

Tenaga Generasi Limited (TGL), a Malaysian company, incorporated in Pakistan in 2004 to implement a 50MW wind power plant. TGL runs a wind power plant in Sindh and was acquired by DLL in 2008.[26]

Reon Energy is DLL's subsidiary actively engaged in solar power, energy storage, electric vehicle charging and digitization of energy assets. Reon is one of Pakistan's leading industrial renewable energy specialist. Its portfolio includes cement, oil and gas, coal mining, steel, textile, dairy, and telecommunications.[27]

See also

  • List of largest companies in Pakistan

References

  1. ↑ 1.0 1.1 "Dawood Hercules". https://www.dawoodhercules.com/investors-information/financial-reports/&ved=2ahUKEwid3JP9gJD7AhWjTmwGHY1IAm4QjBB6BAgVEA8&usg=AOvVaw3OK_cNhlFNw9EiesTEPDDV. 
  2. ↑ "Dawood Hercules Corporation" (in en-US). 2022-03-06. https://www.bolnews.com/business/2022/03/dawood-hercules-corporation/. 
  3. ↑ "Dawood Hercules Fertilizers". https://www.rozee.pk/company/dawood-hercules-fertilizers/about. 
  4. ↑ Hussain, Dilawar (4 April 2003). "SECP, SBP to settle Engro takeover issue". Dawn (Newspaper). https://www.dawn.com/news/91386/secp-sbp-to-settle-engro-takeover-issue. 
  5. ↑ Hussain, Dilawar (22 July 2012). "Investor mopping up shares in Engro". Dawn (Newspaper). https://www.dawn.com/news/736251/investor-mopping-up-shares-in-engro. 
  6. ↑ Hussain, Dilawar (12 June 2003). "Dawood Hercules gets 61m shares of SNGPL". Dawn (Newspaper). https://www.dawn.com/news/106075/dawood-hercules-gets-61m-shares-of-sngpl. 
  7. ↑ 7.0 7.1 "Strong profits at Engro allow Dawood Hercules to pay off debts early" (in en-US). 2021-01-03. https://profit.pakistantoday.com.pk/2021/01/03/strong-profits-at-engro-allow-dawood-hercules-to-pay-off-debts-early/. 
  8. ↑ Malik, Silwat. "Rating Report (June 2019)". The Pakistan Credit Rating Agency. https://islamicmarkets.com/publications/dawood-hercules-corporation-limited-sukuk-pacra-rating-report. 
  9. ↑ Hussain, Dilawar (12 June 2012). "Hub Power Company is sold". Dawn (Newspaper). https://www.dawn.com/news/725889/hub-power-company-is-sold. 
  10. ↑ "FFC acquires DH Fertilizer". The News International. 26 June 2015. https://www.thenews.com.pk/print/47909-ffc-acquires-dh-fertilizer. 
  11. ↑ Farooq, Mohammad (1 February 2018). "Mega Conglomerate to acquire 15.8 percent stake of Dawood Hercules in Hubco". Profit (Pakistan Today). https://profit.pakistantoday.com.pk/2018/02/01/mega-conglomerate-acquires-100pc-stake-in-hubco/. 
  12. ↑ "Companies Act, 2017". National Assembly of Pakistan. http://www.na.gov.pk/uploads/documents/1487136261_767.pdf. 
  13. ↑ "Appointment of Chief Executive of Dawood Hercules Corporation Limited". Business Insider. 20 December 2016. https://www.businessinsider.pk/appointment-of-chief-executive-of-dawood-hercules-corporation-limited. 
  14. ↑ Dawood Hercules Corporation Limited (20 February 2019). "Chairman's Review". Annual Report 2018 50: 51. https://www.dawoodhercules.com/app/media/2019/12/Annual-Report-2018.pdf. 
  15. ↑ "Annual Report 2022". Dawood Hercules Corporation. https://www.dawoodhercules.com/app/media/2023/04/DH-Corp-Annual-Report-2022.pdf. 
  16. ↑ "Dawood Hercules Corporation Limited". Pakistan Stock Exchange (PSX). https://dps.psx.com.pk/company/DAWH. 
  17. ↑ Qamar, Faiqa. "Rating Report: Dawood Hercules Corporation Limited". The Pakistan Credit Rating Agency Limited. https://www.pacra.com/summary_report/RR_1401_8218_26-Jun-20.pdf. 
  18. ↑ Hussain, Dilawar (22 March 2021). "Who's who of the PSX". Dawn (Newspaper). https://www.dawn.com/news/1613808. 
  19. ↑ "DH Annual Report 2020 (page 110)". Dawood Hercules Corporation Limited. https://www.dawoodhercules.com/app/media/2021/04/DH-Annual-Report-2020-.pdf. 
  20. ↑ "An interview with Salman Chaudhary, CEO, EmpiricAI". Business Recorder. 22 February 2021. https://www.brecorder.com/news/40066364. 
  21. ↑ Dawood Hercules Corporation Limited Annual Report 2020, page 110: https://www.dawoodhercules.com/app/media/2021/04/DH-Annual-Report-2020-.pdf (PDF)
  22. ↑ "Inbox recognised as Pakistan's largest tech company". Express Tribune. 22 December 2016. https://tribune.com.pk/story/1271725/inbox-recognised-pakistans-largest-tech-company. 
  23. ↑ "Lawrencepur Woolen and Textile Mills suspends operations". The News International. 30 August 2013. https://www.thenews.com.pk/archive/print/451572-lawrencepur-woolen-and-textile-mills-suspends-operations. 
  24. ↑ "Dawood Lawrencepur Limited". Business Recorder. 3 September 2015. https://fp.brecorder.com/2015/09/201509031223597/. 
  25. ↑ Hasan, Saad (15 July 2015). "Solar power: Dawood Group's Reon eyes tube-well project". The Express Tribune. https://tribune.com.pk/story/921015/solar-power-dawood-groups-reon-eyes-tube-well-project. 
  26. ↑ "Dawood Lawrencepur Limited". Business Recorder. 14 May 2020. https://www.brecorder.com/news/596768. 
  27. ↑ "Press Release: Reon Energy Limited Energises Business Growth With Oracle Cloud". 27 July 2020. https://www.oracle.com/apac/news/announcement/reon-energy-limited-energises-business-growth-2020-07-27.html. 




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