Dawood Hercules: Difference between revisions
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Chairman of the board of directors: |
Chairman of the board of directors: |
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* [[Ahmed Dawood]], (1968–2002) |
* [[Ahmed Dawood]], (1968–2002) |
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* [[Hussain Dawood]], ( |
* [[Hussain Dawood]], (2002–present) |
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Vice Chairman of the board of directors: |
Vice Chairman of the board of directors: |
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Revision as of 16:35, 30 November 2024
 | A request that this article title be changed to Dawood Hercules is under discussion. Please do not move this article until the discussion is closed. |
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 Headquarters of Dawood Hercules in Karachi | |
| Formerly | Dawood Hercules Chemicals Ltd. (1968–2011) |
|---|---|
| Company type | Public |
| PSX: DAWH KSE 100 component | |
| ISIN | PK0017501013 |
| Industry | Conglomerate |
| Founded | 17 April 1968 |
| Founder | Ahmed Dawood |
| Headquarters | Dawood Centre, M.T. Khan Road, Karachi |
Area served | Pakistan |
Key people | Hussain Dawood (Chairman) Mohammad Shamoon Chaudry (CEO) |
| Revenue |  Rs. 482.488 billion (US$1.7 billion) (2023) |
| Rs. 121.032 billion (US$420 million) (2023) | |
| Rs. 8.322 billion (US$29 million) (2023) | |
| Total assets | Rs. 815.792 billion (US$2.8 billion) (2023) |
| Total equity |  Rs. 232.897 billion (US$810 million) (2023) |
| Owner | Dawood Lawrencepur (16.19%) Dawood Investments (9.85%) |
Number of employees | 21 (2023) |
| Subsidiaries | Engro Corporation (40%) |
| Website | dawoodhercules |
| Footnotes / references Financials as of 31 December 2023[update] [1] | |
Dawood Hercules Corporation Limited (Urdu: داؤد ہرکولیس کارپوریشن, DH Corp.) is a Pakistani holding company headquartered in Karachi.[2]
History
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.
In 1997, Dawood Hercules began equity investments in Engro Corporation, and acquired 27 percent of its shares.[4] In 2002, Dawood Hercules made further investment in the Engro Corporation and since then has increased its shareholding to 40 percent.[5]
In 2003, Dawood Hercules acquired a partial stake in the Sui Northern Gas Pipeline and owned up to 10 percent 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][9]
In 2015, Dawood Hercules sold its fertilizer manufacturing company to the Fatima Fertilizer Company.[10][11] The shares of Hubco were sold in 2018.[12]
In October 2022, Dawood Hercules 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.[13]
Investments
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.[14]
Leadership
Dawood Hercules' board of directors, according to Pakistan's Companies Act of 2017,[15] comprises 6 non-executive, 3 independent, and 1 executive director.
Chairman of the board of directors:
- Ahmed Dawood, (1968–2002)
- Hussain Dawood, (2002–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 (2018–2021)
- Samad Dawood (2021–present)
CEOs:
- Mohammad Shamoon Chaudry (2022–present)
See also
References
- ^ "Dawood Hercules Annual Report 2023". Retrieved 30 November 2024.
- ^ Hussain, Dilawar (22 March 2021). "Who's who of the PSX". Dawn. Retrieved 3 June 2021.
- ^ Ahmad, Mumtaz (December 1987). "Agricultural research in Pakistans private sector" (PDF). Retrieved 20 June 2023.
- ^ Hussain, Dilawar (4 April 2003). "SECP, SBP to settle Engro takeover issue". Dawn. Retrieved 3 June 2021.
- ^ Hussain, Dilawar (22 July 2012). "Investor mopping up shares in Engro". Dawn. Retrieved 3 June 2021.
- ^ Hussain, Dilawar (12 June 2003). "Dawood Hercules gets 61m shares of SNGPL". Dawn. Retrieved 3 June 2021.
- ^ 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.
- ^ Hussain, Dilawar (12 June 2012). "Hub Power Company is sold". Dawn. Retrieved 3 June 2021.
- ^ https://tribune.com.pk/story/392248/dawood-conglomerate-group-acquires-stake-in-hubco
- ^ "FFC acquires DH Fertilizer". The News International. 26 June 2015. Retrieved 3 June 2021.
- ^ https://tribune.com.pk/story/904095/birth-to-speculation-dawood-hercules-cleans-hands-off-fertiliser-plant
- ^ 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.
- ^ Hassan, Taimoor (16 October 2022). "The rising Octopus". Profit by Pakistan Today. Retrieved 16 July 2023.
- ^ "Annual Report 2022" (PDF). Dawood Hercules Ltd. 2 March 2023. p. 104. Retrieved 10 July 2023.
- ^ "Companies Act, 2017" (PDF). Na.gov.pk. National Assembly of Pakistan. Retrieved 3 June 2021.
