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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]]
Dawood Hercules Corporation was incorporated 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 planning of the project began in 1966 when both the parties requested the [[World Bank]] to finance the project.<ref name="worldbank">{{Cite web|url=https://documents1.worldbank.org/curated/ru/218571468333600932/pdf/multi0page.pdf|title=Dawood Hercules Chemicals Limited Urea Project - World Bank}}</ref> The fertilizer plant was constructed in [[Chichoki Mallian]], [[Sheikhupura]], [[Punjab, Pakistan|Punjab]] at a total cost of $78.2 million; with a loan component of $32 million, provided by the [[World Bank]].<ref name="worldbank"/><ref name="loan">{{Cite web|url=https://documents1.worldbank.org/curated/en/378871468100489416/pdf/Loan-0549-Pakistan-Dawood-Hercules-Fertilizer-Project-Guarantee-Agreement.pdf|title=World Bank loan}}</ref>
Dawood Hercules Corporation was incorporated 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 planning of the project began in 1966 when both the parties requested the [[World Bank]] to finance the project.<ref name="worldbank">{{Cite web|url=https://documents1.worldbank.org/curated/ru/218571468333600932/pdf/multi0page.pdf|title=Dawood Hercules Chemicals Limited Urea Project - World Bank}}</ref> In August 1967, the National Economic Council of Pakistan gave its approval to the project.<ref name="worldbank"/> The fertilizer plant was constructed in [[Chichoki Mallian]], [[Sheikhupura]], [[Punjab, Pakistan|Punjab]] at a total cost of $78.2 million; with a loan component of $32 million, provided by the [[World Bank]].<ref name="worldbank"/><ref name="loan">{{Cite web|url=https://documents1.worldbank.org/curated/en/378871468100489416/pdf/Loan-0549-Pakistan-Dawood-Hercules-Fertilizer-Project-Guarantee-Agreement.pdf|title=World Bank loan}}</ref>


In 1997, Dawood Hercules began equity investments in [[Engro Corporation]], and acquired 27 percent of its shares.<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 2002, Dawood Hercules made further investment in the [[Engro Corporation]] and since then has increased its shareholding to 40 percent.<ref>{{cite news |last1=Hussain |first1=Dilawar |title=Investor mopping up shares in Engro |url=https://www.dawn.com/news/736251/investor-mopping-up-shares-in-engro |access-date=3 June 2021 |publisher=Dawn |date=22 July 2012}}</ref>
In 1997, Dawood Hercules began equity investments in [[Engro Corporation]], and acquired 27 percent of its shares.<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 2002, Dawood Hercules made further investment in the [[Engro Corporation]] and since then has increased its shareholding to 40 percent.<ref>{{cite news |last1=Hussain |first1=Dilawar |title=Investor mopping up shares in Engro |url=https://www.dawn.com/news/736251/investor-mopping-up-shares-in-engro |access-date=3 June 2021 |publisher=Dawn |date=22 July 2012}}</ref>

Revision as of 17:39, 30 November 2024

Dawood Hercules
FormerlyDawood Hercules Chemicals Limited (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. 482.488 billion (US$1.7 billion) (2023)
Increase Rs. 121.032 billion (US$420 million) (2023)
Increase Rs. 8.322 billion (US$29 million) (2023)
Total assetsIncrease Rs. 815.792 billion (US$2.8 billion) (2023)
Total equityDecrease Rs. 232.897 billion (US$810 million) (2023)
OwnerDawood Lawrencepur (16.19%)
Dawood Investments (9.85%)
Number of employees
21 (2023)
SubsidiariesEngro Corporation (40%)
Websitedawoodhercules.com
Footnotes / references
Financials as of 31 December 2023 [1]

Dawood Hercules Corporation Limited (Urdu: داؤد ہرکولیس کارپوریشن, DH Corp.) is a Pakistani holding company headquartered in Karachi.[2][3]

History

Fertiliser factory in Chichoki Mallian, Sheikhupura district

Dawood Hercules Corporation was incorporated in 1968 as Dawood Hercules Chemicals Limited, a joint venture between Dawood Group and Hercules Inc.[4] The planning of the project began in 1966 when both the parties requested the World Bank to finance the project.[5] In August 1967, the National Economic Council of Pakistan gave its approval to the project.[5] The fertilizer plant was constructed in Chichoki Mallian, Sheikhupura, Punjab at a total cost of $78.2 million; with a loan component of $32 million, provided by the World Bank.[5][6]

In 1997, Dawood Hercules began equity investments in Engro Corporation, and acquired 27 percent of its shares.[7] In 2002, Dawood Hercules made further investment in the Engro Corporation and since then has increased its shareholding to 40 percent.[8]

In 2003, Dawood Hercules acquired a partial stake in the Sui Northern Gas Pipeline and owned up to 10 percent of its shares.[9]

In 2010, Dawood Hercules Chemicals was de-merged and became Dawood Hercules Corporation, a holding company which focuses on investments and Dawood Hercules Fertilizers. By 2011, Dawood Hercules' fertilizer business was facing difficulties in procuring gas.[10] It undertook a failed sale of DH Fertilizers to Pakarab Fertilizers.[10] In 2012, Dawood Hercules acquired a minor stake in Hub Power Company.[11][12]

In 2015, Dawood Hercules sold its fertilizer manufacturing company to the Fatima Fertilizer Company.[13][14] The shares of Hubco were sold in 2018.[15]

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.[16]

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.[17]

Leadership

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

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)
  • Samad Dawood (2021–present)

CEOs:

  • Mohammad Shamoon Chaudry (2022–present)

See also

References

  1. ^ "Dawood Hercules Annual Report 2023". Retrieved 30 November 2024.
  2. ^ Hussain, Dilawar (22 March 2021). "Who's who of the PSX". Dawn. Retrieved 3 June 2021.
  3. ^ https://tribune.com.pk/story/964022/the-dawoods-growing-bet-on-pakistan
  4. ^ Ahmad, Mumtaz (December 1987). "Agricultural research in Pakistans private sector" (PDF). Retrieved 20 June 2023.
  5. ^ a b c "Dawood Hercules Chemicals Limited Urea Project - World Bank" (PDF).
  6. ^ "World Bank loan" (PDF).
  7. ^ Hussain, Dilawar (4 April 2003). "SECP, SBP to settle Engro takeover issue". Dawn. Retrieved 3 June 2021.
  8. ^ Hussain, Dilawar (22 July 2012). "Investor mopping up shares in Engro". Dawn. Retrieved 3 June 2021.
  9. ^ Hussain, Dilawar (12 June 2003). "Dawood Hercules gets 61m shares of SNGPL". Dawn. Retrieved 3 June 2021.
  10. ^ 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.
  11. ^ Hussain, Dilawar (12 June 2012). "Hub Power Company is sold". Dawn. Retrieved 3 June 2021.
  12. ^ https://tribune.com.pk/story/392248/dawood-conglomerate-group-acquires-stake-in-hubco
  13. ^ "FFC acquires DH Fertilizer". The News International. 26 June 2015. Retrieved 3 June 2021.
  14. ^ https://tribune.com.pk/story/904095/birth-to-speculation-dawood-hercules-cleans-hands-off-fertiliser-plant
  15. ^ 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.
  16. ^ Hassan, Taimoor (16 October 2022). "The rising Octopus". Profit by Pakistan Today. Retrieved 16 July 2023.
  17. ^ "Annual Report 2022" (PDF). Dawood Hercules Ltd. 2 March 2023. p. 104. Retrieved 10 July 2023.
  18. ^ "Companies Act, 2017" (PDF). Na.gov.pk. National Assembly of Pakistan. Retrieved 3 June 2021.
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