Kohat Cement Company Ltd. (KOHC) announced its 3QFY26 financial results, reporting earnings of PkR1.9bn (EPS: PkR2.0), compared to PkR2.3bn (EPS: PkR2.5) in SPLY, down 20%YoY, primarily due to a decline in offtakes. Earnings came in line with our expectations.

·        Revenue remained flat YoY at PkR8.2bn, as higher retention prices offset the 4%YoY decline in offtakes.

·        Gross margins contracted to 34.8% from 39.5% in SPLY, mainly attributed to higher coal prices following the Afghan border closure.

·        Other income reduced to PkR621mn during 3QFY26 from PkR921mn, down 33%YoY, primarily due to lower investment yields, despite 12%YoY increase in avg cash & ST investments.

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Courtesy – AKD Research