Phu My Fertilizer Holds Over 9,000 Billion VND in Cash β The Massive Financial Fortress of Vietnam's Fertilizer Industry
PVFCCo, the company behind the Phu My Fertilizer brand, is holding more than 9,045 billion VND in cash, cash equivalents, and short-term financial investments as of March 31, 2026. This figure represents nearly half of the company's total assets, creating an extremely solid financial foundation amidst strong fluctuations in the global fertilizer and chemical market.
The Magnitude of 9,045 Billion VND
When converted, this amount totals over 9,045,000,000,000 VND β sufficient to implement numerous large-scale chemical projects, maintain attractive dividend payments, and ensure the company remains proactive against any raw material price fluctuations. This substantial cash position provides PVFCCo with significant flexibility in an industry known for its cyclicality and price volatility.
First Quarter 2026 Financial Results
| Indicator | Value |
|---|---|
| Net Revenue | 5,623 billion VND |
| Net Profit After Tax | 410 billion VND |
| Profit Growth | +95% |
| Cash and Short-term Investments | 9,045 billion VND |
| Total Assets | 18,156 billion VND |
| Owner's Equity | 11,816 billion VND |
| Undistributed Profits | 2,931 billion VND |
2026 Business Plans
| Target | Value |
|---|---|
| Consolidated Revenue | 17,600 billion VND |
| Net Profit After Tax | 680 billion VND |
| Expected Dividend Ratio | 12% |
| New Investment Capital | 1,164 billion VND |
The Transition from Fertilizer to Chemicals
Not limited to the fertilizer sector, PVFCCo is expanding into industrial chemicals, notably the hydrogen peroxide (HβOβ) project. This strategic move aims to increase value and reduce dependence on fertilizer price cycles. By diversifying into higher-value chemical products, the company is positioning itself to capture growth in multiple industrial segments while mitigating risks associated with agricultural commodity price fluctuations.
Significant Improvement in Financial Performance
- Gross profit margin increased from 15.8% to 16.7%
- Financial revenue increased 2.5 times
- Inventory decreased by more than 10%
- Short-term debt decreased by nearly 1,000 billion VND
Position in the Industry
PVFCCo is one of the strongest fertilizer companies in Vietnam, alongside PetroVietnam Ca Mau Fertilizer Joint Stock Company and Binh Dien Fertilizer Joint Stock Company. What distinguishes DPM is its substantial cash holdings, giving the company a clear advantage in investment, dividends, and resilience against market cycles.
Why Investors Are Interested in DPM
- Extremely strong balance sheet
- Near-doubling profit growth
- Stable cash dividends
- Expansion into high-value chemicals
- Benefits from rising international fertilizer prices
Conclusion
With over 9,000 billion VND in cash, PVFCCo is not only a leading fertilizer enterprise but also a "financial fortress" for Vietnam's chemical industry. In the context of continuing growth in agricultural, industrial, and chemical demand, Phu My Fertilizer possesses a strong enough foundation for sustainable growth in the coming years.