Cement News tagged under: Lucky Cement

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Lucky Cement records 92 per cent jump in profit

29 January 2024, Published under Cement News

Lucky Cement Ltd posted its financial result for 1HFY24 at the Pakistan Stock Exchange (PSX) on 26 January. The company announced unconsolidated earnings of PKR13.710bn (US$49m), showcasing a hefty jump of 92 per cent YoY. Gross sales increased to PKR79.26bn from PKR58.70bn over the same period. The company has decided to undertake a 28.8MW wind power project at the Karachi plant. The project is expected to be completed by 1QFY25. The company is also expected to increase solar capacities ...

Lucky Cement expected to post strong financial results

24 January 2024, Published under Cement News

Pakistan cement manufacturers, listed in Pakistan’s Stock Exchange (PSX), are yet to start posting their financial results on the bourse for 2QFY23-24 and 1HFY23-24. Mixed results are expected, due to the high construction cost, cement bag and steel prices, unviable interest rates and peak inflation. However, Lucky Cement Ltd ,which is scheduled to announce its 2QFY24 financial result on 25 January 2024, is forecast to lead the way. AHL Research forecasts the company to post a standalon...

Lucky Cement completes the biggest of its kind buyback of shares

24 November 2023, Published under Cement News

Lucky Cement informed the Pakistan Stock Exchange (PSX) earlier this week that the company wants to announce the closure of the purchase period about the buyback of shares by the company, as approved by the members of Lucky Cement Ltd (the “Company”) in the Extraordinary General Meeting held on 24 May 2023. During the purchase period, the company purchased an aggregate of 20,375,000 ordinary shares of the company (purchased shares), representing approximately 6.50 per cent of the issued an...

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...

Gas price increase expected for Pakistan's cement industry

24 October 2023, Published under Cement News

According to local reporters, Pakistan's government will likely increase gas prices for commercial and domestic users to meet some conditionality of the IMF programme and overcome losses of gas utility companies, gas price adjustments, and gas sector circular debts. The increase in gas prices would also be effective in the cement industry. The Economic Coordination Committee (ECC) is expected to approve gas price increases across the board (excluding protected consumers). The hikes range fr...

Lucky Cement Ltd wins award for Best Corporate Report – 2022

17 October 2023, Published under Cement News

Pakistan’s Lucky Cement Ltd has won the Best Corporate Report Award in the cement sector category at the “Best Corporate & Sustainability Report Awards Ceremony – 2022”. The recognition was jointly announced by the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMAP). Atif Kaludi, CFO of Lucky Cement Ltd, said, “At Lucky Cement Ltd, we consider governance, compliance, ethics, and transparency as the foundational p...

Crafters Polypropylene Packages achieves record AD*STAR production

06 October 2023, Published under Cement News

By producing 199,000 AD*STAR block bottom sacks in 24 hours on a single conversion line, Crafters Polypropylene Packages (PVT) Ltd has achieved a production record that has never been reached before for this type of sack. Crafters supplies the AD*STAR sacks primarily to the cement industry, one of its main customers being Pakistan’s biggest cement producer, Lucky Cement . With a sack weight of 65g for a filling volume of 50kg, AD*STAR sacks are currently the most lightweight type of sack...

Lucky Cement receives the 38th Corporate Excellence Award

06 October 2023, Published under Cement News

Lucky Cement Ltd has won the Management Association of Pakistan’s (MAP) Top Corporate Excellence Award 2023 in the Industrial Category amongst all corporate sector organisations in Pakistan. Noman Hasan, executive director of Lucky Cement Ltd, received the award at the 38th MAP Annual Corporate Excellence Award Ceremony, held at the Marriott Hotel in Karachi on 4 October 2023. The Corporate Excellence Awards were instituted by MAP in 1982 to recognise and honour companies showing out...

Lucky Cement announces three new green power projects

19 September 2023, Published under Cement News

Pakistan’s Lucky Cement has announced further investments in green power to help reduce its dependence on imported fuel. According to Business Recorder, the cement producer is launching three new renewable projects with a total power generation capacity of 37.6MW, in addition to the 25MW and 34MW solar power projects recently commissioned at its Karachi and Pezu plants, respectively. The new investments include a 28.8MW captive wind power plant at its Karachi works, a 6.3MW solar powe...

Lucky Cement invested PKR100bn in the last few years

07 September 2023, Published under Cement News

Lucky Cement  ( Yunus Brothers Group) has invested over PKR100bn (US$325.3m) in the past 4-5 years, which includes PKR30bn in Lucky Electric Power Co (LEPCL), PKR50bn in cement operations and PKR15bn in auto segments. A top official of Lucky Cement shared this information during last week's corporate briefing.   It is important to note here that during FY22-23, company profitability was down due to cement demand contraction and the imposition of super tax. Its local cement volumes were ...