Local cement despatches continue to shrink at -18%
Due to increased cement prices due to irrational taxation and low demand, local despatches were further reduced by 18% and now stand at the level of 2017. Cement despatches declined…
Pakistan’s Cement sector is likely to see local cement dispatches plunge by 20% YoY in in September 2024
Pakistan's local cement dispatches are likely to be down 20% year over year and up 3% Month over month, clocking in at around 2.83 million tons in September 2024. Local…
Amreli Steels gross margins turn negative in 4QFY24
Amreli Steels Limited (ASTL) posted NLAT of PKR4.8Bn (LPS: PKR16.18) for 4QFY24, 4.9x and 6.2x the losses in QoQ and YoY respectively. The result was much lower than our estimate,…
In FY24, MUGHAL posted a profit of Rs2.0bn, a 43% decline YoY
MUGHAL announced its 4QFY24 recently, where the company recorded an unconsolidated profit of Rs608mn (EPS of Rs1.81), a 27% decline year over year. The result came in-line with expectations in…
Thatta Cement installing 3.5MW solar panels and a 4.8MW windmill to reduce reliance on the national grid.
Thatta Cement Company Limited (THCCL) - Sharply Improving Fundamentals; BUY with a PkR 133.6/sh target. We initiate Thatta Cement Company Limited (THCCL) coverage with a BUY rating. Our Jun 25…
Pioneer Cement announced a final cash dividend of PkR10/sh in FY24
Pioneer Cement Limited (PIOC) announced its FY24 financial results, posting earnings of PkR5.2bn (EPS: PkR22.8) for the year, compared to PkR2.6bn (EPS: PkR11.5) in the previous year, largely in line…
Pioneer Cement earnings are predicted to reach PKR 4,991mn in FY24
PIOC is anticipated to declare a profit after tax of PKR 1,162mn (EPS: PKR 5.12) in 4QFY24, reflecting a decline of 3% QoQ. Furthermore, FY24 earnings are predicted to reach…
Sri Lanka has cut cement duty, potentially boosting exports from Pakistan.
Sri Lanka's slash duty on cement may boost exports from Pakistan. CemNet of the UK reported this. To facilitate uninterrupted imported cement and boost the construction industry, the Sri Lankan…
Maple Leaf Cement Factory is expected to present strong results in FY24.
Maple Leaf Cement Factory Limited | MLCF – Result Preview 4QFY24 MLCF is anticipated to declare a profit after tax of PKR 1,289mn (EPS: PKR 1.20) in 4QFY24, reflecting an…
Pakistan cement dispatches declined by 25.68% during August 2024 amid a heavy taxation
The unprecedented and extremely high tax measures, leading to a huge increase in cement prices, have led to a steep decline in cement demand. Cement despatches declined by 25.68% in…
Experts expect KOHC to pay DPS of Rs.4.50.
KOHC is anticipated to declare a profit after tax of PKR 2,164mn (EPS: PKR 10.77) in 4QFY24, reflecting a 5% QoQ increase. Furthermore, FY24 earnings are predicted to reach PKR…
Fauji Cement posts highest-ever profit in FY24
Fauji Cement Co Ltd posted its financial results for 4QFY24 and FY24 on the Pakistan Stock Exchange’s website on 27 August 2024. The company earned a profit after tax of…
Markets expect to fall in dispatches due to suppressed demand in August 2024
BMA Research has released tentative cement dispatch data for August 2024. Experts believe local cement dispatches will decline by 32 per cent annually. The All Pakistan Manufacturers Association (APCMA) has…
Crescent Steel and Allied Products recorded tremendous demand in pre-coated pipes business.
Crescent Steel and Allied Products Limited (CSAP), established in 1987, primarily produces coated steel line pipes and cotton yarn. The company’s cotton spinning division has an installed capacity of 19,680…
International Steels declared final cash dividend of PkR 3.0/share
International Steels Limited (ISL) announced its financial results for 4QFY24 today. The company recorded earnings of PkR 0.59bn (EPS of PkR 1.37) vs. PkR 1.94bn (EPS of PkR 4.46) in…
Attock Cement further sold 4,500,000 shares held in its subsidiary, i.e. SAKCPCL.
Attock Cement Pakistan Ltd has informed Pakistan Stock Exchange Limited (PSX) further to the company’s intimations dated April 28, 2023, and June 21, 2023, regarding the Agreement for the sale…
A mixed forecast about incoming steel industry financial results.
Pakistan's steel industry continues to face demand challenges amid high finance costs. A local research house, IMS Research, has studied the main players in the steel industry and estimated incoming…
Cement plants in Punjab have obtained stay orders against royalty on Limestone
§ In a major development today, Punjab-based manufacturers have obtained a stay order from the court against the imposition of 6% of the ex-factory cement/clinker price as royalty on Limestone…
Lucky Cement announced a final dividend of PkR15/sh
Lucky Cement Ltd. (LUCK) reported its highest-ever quarterly standalone earnings of PkR9.5bn (EPS: PkR32.3), taking full-year standalone earnings to PkR28.1bn (EPS: PkR95.9) - also the highest-ever. The result exceeded our…
Lucky Cement Limited expected to announce a DPS of PKR12.0 during 4QFY24
LUCK anticipates declaring a profit after tax of PKR 6,158mn (EPS: PKR 20.10) in 4QFY24, reflecting a 138% QoQ increase. Furthermore, the earnings for FY24 are predicted to reach PKR…
Pakistan cement industry saw a rise in export during July 2024
Pakistan's cement industry recorded a 6.81% decline in dispatches in July 2024. Total Cement despatches during July 2024 were 3.010 million tons, compared to 3.230 Million Tons despatched during the…
Increase in royalty to have an impact of Rs50/bag for Punjab-based cement plants
In a notice circulated by the Government of Punjab, dated August 01, 2024, rates of royalty on raw material for cement manufacturers have been determined at 6% of the ex-factory…
International Steels looks attractive at this level.
We initiate International Steels Limited (ISL) coverage with a BUY rating. Our Jun 25 target price for the stock stands at PkR 134/sh, offering a potential upside of 52% along…
Cement dealers suspended the supply chain from today.
Dealers in Pakistan are planning to go on strike, which may significantly impact the sales and distribution of cement in Pakistan. The strike is in response to negative Federal Budget…
A review of Mughal Iron & Steel Industries –
Mughal is focusing on cost efficiencies, such as installing a non-ferrous recycling plant and investing in a coal-based power plant, which will not only provide cheap electricity but also reduce the tax rate.