Cement News tagged under: DG Khan Cement

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DG Khan Cement to establish US subsidiary

22 July 2024, Published under Cement News

Following the successful export of cement to the USA, the leading cement manufacturer and exporter in Pakistan, DG Khan Cement Co Ltd (DGKC), has officially informed the Pakistan Stock Exchange (PSX) of its intention to establish a fully-owned subsidiary in Houston, Texas, USA. The proposed name for this new venture is DG Cement USA LLC. This significant development was disclosed on 19 July 2024, in a formal letter by Khalid Mehmood Chohan, company secretary to the PSE general manager. ...

DG Khan Cement is exploring other destinations for export

07 June 2024, Published under Cement News

BMA Capital recently organised a webinar with Inayat Ullah Niazi, the CFO of DG Khan Cement Co (DGKC). The webinar focussed on the company’s financial performance and outlook.  DG Khan Cement's CFO expects an unfavourable macroeconomic environment to cause domestic cement demand to contract by 4-5 per cent in FY23-24. However, he anticipates a recovery in demand and sees capacity utilisation hovering around 50-55 per cent in FY24-25. In terms of exports, Mr Niazi said DGKC exporte...

DG Khan Cement posts 6% YoY profit growth in 9MFY24

23 April 2024, Published under Cement News

DG Khan Cement Co Ltd (DGKC) announced its financial results for the 9MFY24 and 3QFY24 on the Pakistan Stock Exchange (PSX) website on 19 April. It posted a profit after tax (PAT) of PKR2.23bn (US$8.25m) compared to PKR2.11bn in the same period last year, up by six per cent YoY. However, during the 3QFY24 (January-March 2024), earnings remained consistent at PKR1.18bn.  A cursory review of results from AHL Research depicts that the topline in the 9MFY24 arrived at PKR49.05bn, showing an...

DG Khan Cement's profit increased by 13% in 1HFY23-24

01 March 2024, Published under Cement News

DG Khan Cement Co Ltd (DGKC) announced its financial results for the half year ended 2023-24 on 26 February 2024. Its net profit after taxation increased by 13.2 per cent YoY to PKR1.05bn (US$379.2m). The rise in profit can be attributed to higher sales or 17 per cent during these six months ending on 31 December 2023.  Its net sales increased to PKR34.78bn from PKR29.76bn during this period. It incurred a distribution cost of PKR1.20bn (a 136 per cent rise) against PKR508m and administ...

DG Khan Cement is exploring Mexico to export cement from Pakistan

29 November 2023, Published under Cement News

According to AKD Research, DG Khan Cement Co Ltd (DGKCC) held its corporate briefing on 24 November to apprise investors of its FY22-23 financial results and the company’s future outlook. DGKC recently exported two shipments to Mexico and four shipments to the USA. Management is actively focussing on exports to increase capacity utilisation. It expects higher clinker exports this year, but the impact would not be significant as clinker exports have minimal margins. However, margins on c...

Pakistan to strategise industrial policy, including cement

21 November 2023, Published under Cement News

Pakistan’s caretaker government has formed a 19-member Industrial Advisory Council to develop industrial policies, including for the cement industry. The council comprises members from different industries, such as cement, fertiliser, pharmaceutical, steel, textile, packaging, electronics, etc. It is chaired by the Federal Minister of Industry and Production, Gohar Ejaz, and includes 12 private members and six members from the public sector. Its goal is to advise the government on ways to...

DG Khan Cement incurs losses on taxes

01 September 2023, Published under Cement News

DG Khan Cement Co (DGKC) has reported a loss of PKR3.63bn (US$11.8bn) for the year ended 30 June   2023, compared to a profit of PKR2.97bn in the year-ago period, despite a rise in revenue. The company has attributed the loss to higher taxation and increased financial charges.   The company says its net sales increased by 12 per cent to PKR64.98bn from PKR58.04bn during the 12-month period. It incurred a distribution cost of PKR1.81bn against PKR1.74bn and administrative expenses of ...

Cement players expect demand in FY24 to remain stable

16 June 2023, Published under Cement News

Topline Securities hosted the Pakistan Cement Conference 2023, where top executives of major cement players Maple Leaf Cement (MLCF), Lucky Cement (LUCK), DG Khan Cement (DGKC), Cherat Cement (CHCC), Kohat Cement (KOHC) and Pioneer Cement (PIOC) participated in the conference through Zoom recently. They ruled out unanimous fears of a price war, stating that it would be unwise to start a price war due to economic conditions and slow demand. However, they believed that major ...

DG Khan Cement maintains its progress

08 June 2023, Published under Cement News

Nishat Group -owned DG Khan Cement ( DGKC) is progressing well due to the back-up of dividends from group companies. According to Spectrum Securities Ltd, the portfolio/revenue of DG Khan is promising, given its holding company portfolio with major holdings in banks, textiles, power generation, agriculture, hotels and dairy. However, the company borrowed a massive loan to finance capacity expansion. Working capital requirements at the end of March 2023 stood at PKR42bn (US$146.6m). The ...

DG Khan Cement to diversify into new cement export markets

19 May 2023, Published under Cement News

Pakistan-based DG Khan is diversifying cement operations into new export markets, further enhancing the company's revenue mix. It recently delivered a 0.6Mt export order to the USA, according to a local research house. DG Khan Cement , which had increased its southern region capacity by 2.8Mta to 7.1Mta at its Hub plant in Balochistan in 2018, has not yet announced any capacity project during the ongoing expansionary cycle.  According to AKD Securities Ltd, the industry capacity has in...