Jump to content

Dawood Hercules

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by Veldsenk (talk | contribs) at 16:28, 30 November 2024 (→History). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

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. 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]

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.

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:

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. ^ 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. ^ https://tribune.com.pk/story/392248/dawood-conglomerate-group-acquires-stake-in-hubco
  10. ^ "FFC acquires DH Fertilizer". The News International. 26 June 2015. Retrieved 3 June 2021.
  11. ^ https://tribune.com.pk/story/904095/birth-to-speculation-dawood-hercules-cleans-hands-off-fertiliser-plant
  12. ^ 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.
  13. ^ Hassan, Taimoor (16 October 2022). "The rising Octopus". Profit by Pakistan Today. Retrieved 16 July 2023.
  14. ^ "Annual Report 2022" (PDF). Dawood Hercules Ltd. 2 March 2023. p. 104. Retrieved 10 July 2023.
  15. ^ "Companies Act, 2017" (PDF). Na.gov.pk. National Assembly of Pakistan. Retrieved 3 June 2021.
Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=Dawood_Hercules&oldid=1260409604"