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== History ==
== History ==
[[File:Chichoki Mallian Plant.jpg|thumb|right|Fertiliser factory in Chichoki Mallian, Sheikhupura district]]
[[File:Chichoki Mallian Plant.jpg|thumb|right|Fertiliser factory in Chichoki Mallian, Sheikhupura district]]
In 1968 Dawood Hercules Chemicals Ltd. was formed as a [[joint venture]] between the Pakistani [[Dawood Group]] and the American company [[Hercules Inc.]]<ref>{{Cite web |last=Ahmad |first=Mumtaz |date=December 1987 |title=Agricultural research in Pakistans private sector |url=https://pdf.usaid.gov/pdf_docs/PNABS826.pdf |access-date=20 June 2023}}</ref> The fertilizer plant in Chichoki Mallian, [[Sheikhupura]], [[Punjab, Pakistan|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 [[urea]] plant in the country at the time.
Dawood Hercules Corporation was founded in 1968 as Dawood Hercules Chemicals Limited, a [[joint venture]] between [[Dawood Group]] and [[Hercules Inc.]]<ref>{{Cite web |last=Ahmad |first=Mumtaz |date=December 1987 |title=Agricultural research in Pakistans private sector |url=https://pdf.usaid.gov/pdf_docs/PNABS826.pdf |access-date=20 June 2023}}</ref> The fertilizer plant in Chichoki Mallian, [[Sheikhupura]], [[Punjab, Pakistan|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 [[urea]] plant in the country at the time.


In 1997, Dawood Hercules began equity investments in Engro Corporation, and 27% of its shares were acquired.<ref>{{cite news |last1=Hussain |first1=Dilawar |title=SECP, SBP to settle Engro takeover issue |url=https://www.dawn.com/news/91386/secp-sbp-to-settle-engro-takeover-issue |access-date=3 June 2021 |publisher=Dawn |date=4 April 2003}}</ref>
In 1997, Dawood Hercules began equity investments in Engro Corporation, and 27% of its shares were acquired.<ref>{{cite news |last1=Hussain |first1=Dilawar |title=SECP, SBP to settle Engro takeover issue |url=https://www.dawn.com/news/91386/secp-sbp-to-settle-engro-takeover-issue |access-date=3 June 2021 |publisher=Dawn |date=4 April 2003}}</ref>

Revision as of 14:07, 30 November 2024

Dawood Hercules
FormerlyDawood Hercules Chemicals Ltd. (1968–2011)
Company typePublic
PSX: DAWH
KSE 100 component
ISINPK0017501013
IndustryConglomerate
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)
Mohammad Shamoon Chaudry (CEO)
RevenueIncrease Rs. 6.22 billion (US$22 million) (2022)
DecreaseRs. 3.69 billion (US$13 million) (2022)
Total assetsDecreaseRs. 34.93 billion (US$120 million) (2022)
Total equityDecrease Rs. 26.88 billion (US$93 million) (2022)
Number of employees
24 (2022)[1]
SubsidiariesEngro Corporation
Websitedawoodhercules.com

Dawood Hercules Corporation Limited (Urdu: داؤد ہرکولیس کارپوریشن, DH Corp.) is a Pakistani holding company headquartered in Karachi.[2]

History

Fertiliser factory in Chichoki Mallian, Sheikhupura district

Dawood Hercules Corporation was founded in 1968 as Dawood Hercules Chemicals Limited, a joint venture between Dawood Group and 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 urea plant in the country at the time.

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

In 2002, Dawood Hercules 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, Dawood Hercules acquired a partial stake in the Sui Northern Gas Pipeline and owned up to 10% of its shares.[6]

In 2011, Dawood Hercules' fertilizer business faced difficulties in procuring gas.[7] It undertook a failed sale of DH Fertilizers to Pakarab Fertilizers.[7] Dawood Hercules Chemicals Ltd. was de-merged and became Dawood Hercules Corporation (DH Corp.), a holding company which focuses on investments and Dawood Hercules Fertilizers.

In 2012, Dawood Hercules acquired a stake in Hub Power Company (HUBCO).[8]

In 2015, Dawood Hercules sold its fertilizer manufacturing company to the Fatima Fertilizer Company.[9] The shares of Hubco were sold in 2018.[10]

In October 2022, DH Corp. sold its wholly-owned subsidiary Empiric AI, which solves complex industrial problems through software products like data analytics and artificial intelligence, under a share swap agreement to Avanceon.[11]

Subsidiaries

DH Corp. directly governs financially and operationally over its subsidiary, Engro Corporation, and holds, through the majority of voting rights, the decision-making power at the company's' boards of directors.[1]

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

Associated companies

Through common directorship of DH Corp. are the following companies associated with it:[1]

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.[12]

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[13][14] to become a holding company for two renewable energy projects.[15]

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.[16]

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.[17]

Leadership

DH Corp.'s board of directors, according to Pakistan's Companies Act of 2017,[18] comprises 6 non-executive, 3 independent, and 1 executive director.

Mohammad Shamoon Chaudry is since 1st January 2022 the company's chief executive officer.[19]

Chairman of the board of directors:

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 - 2021[20]

See also

References

  1. ^ a b c "Annual Report 2022" (PDF). Dawood Hercules Ltd. 2 March 2023. p. 104. Retrieved 10 July 2023.
  2. ^ Hussain, Dilawar (22 March 2021). "Who's who of the PSX". Dawn. Retrieved 3 June 2021.
  3. ^ Ahmad, Mumtaz (December 1987). "Agricultural research in Pakistans private sector" (PDF). Retrieved 20 June 2023.
  4. ^ Hussain, Dilawar (4 April 2003). "SECP, SBP to settle Engro takeover issue". Dawn. Retrieved 3 June 2021.
  5. ^ Hussain, Dilawar (22 July 2012). "Investor mopping up shares in Engro". Dawn. Retrieved 3 June 2021.
  6. ^ Hussain, Dilawar (12 June 2003). "Dawood Hercules gets 61m shares of SNGPL". Dawn. Retrieved 3 June 2021.
  7. ^ a b "Strong profits at Engro allow Dawood Hercules to pay off debts early". Profit by Pakistan Today. 3 January 2021. Retrieved 31 May 2022.
  8. ^ Hussain, Dilawar (12 June 2012). "Hub Power Company is sold". Dawn. Retrieved 3 June 2021.
  9. ^ "FFC acquires DH Fertilizer". The News International. 26 June 2015. Retrieved 3 June 2021.
  10. ^ Farooq, Mohammad (1 February 2018). "Mega Conglomerate to acquire 15.8 percent stake of Dawood Hercules in Hubco". Profit (Pakistan Today). Retrieved 3 June 2021.
  11. ^ Hassan, Taimoor (16 October 2022). "The rising Octopus". Profit by Pakistan Today. Retrieved 16 July 2023.
  12. ^ "Inbox recognised as Pakistan's largest tech company". Express Tribune. 22 December 2016. Retrieved 31 August 2021.
  13. ^ "Lawrencepur Woolen and Textile Mills suspends operations". The News International. 30 August 2013. Retrieved 3 June 2021.
  14. ^ "Dawood Lawrencepur Limited". Business Recorder. 3 September 2015. Retrieved 3 June 2021.
  15. ^ Hasan, Saad (15 July 2015). "Solar power: Dawood Group's Reon eyes tube-well project". The Express Tribune.
  16. ^ "Dawood Lawrencepur Limited". Business Recorder. 14 May 2020. Retrieved 3 June 2021.
  17. ^ "Press Release: Reon Energy Limited Energises Business Growth With Oracle Cloud". Oracle.com. 27 July 2020. Retrieved 3 June 2021.
  18. ^ "Companies Act, 2017" (PDF). Na.gov.pk. National Assembly of Pakistan. Retrieved 3 June 2021.
  19. ^ "DAWH appoints Shamoon Chaudry as CEO". Mettis Global Link. 17 December 2021. Retrieved 22 June 2023.
  20. ^ "Engro Corporation 1H 2021 Results". Governance Matters. Engro Corp. 24 August 2021. Archived from the original on 20 June 2023. Retrieved 22 June 2023.
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