Cement News tagged under: indian sub-continent
Pioneer Cement Ltd sees double-digit profit growth in 1QFY24-2530 October 2024, Published under Cement NewsPioneer Cement Ltd announced its 1QFY24-25 financial result on the Pakistan Stock Exchange’s website on 29 October. It reported earnings of PKR1bn (US$3.5m), up 10 per cent from PKR0.9bn in the previous period. Based on the result, AKD Research reported that PIOC revenue clocked in at PKR7.9bn, a nine per cent YoY decline from PKR8.7bn in the same period last year. The decrease in turnover is attributed to a 23 per cent YoY drop in sales. However, this was partially mitigated by a 17 pe... |
Lucky Cement presents a mixed result in 1QFY24-2529 October 2024, Published under Cement NewsPakistan’s largest cement producer, Lucky Cement Ltd , announced its financial results for 1QFY24-25 on the Pakistan Stock Exchange (PSX) website on 28 October. The company posted unconsolidated earnings of PKR6.562bn (US$23.6m), a five per cent YoY decline compared to PKR6.929bn in the same period last year. On a consolidated basis, net profit settled at PKR17.927bn compared to PKR17.706bn in the equivalent period of the previous year, a slight increase of one per cent YoY. The AHL Rese... |
Fauji Cement saw profit rise to 24% in 1QFY24-2528 October 2024, Published under Cement NewsFauji Cement has informed the Pakistan Stock Exchange (PSX) about its financial results for the 1QFY24-25, which ended on 30 September 2024. The company earned a profit after tax of PKR3.2bn (US$11.52m) compared to PKR2.6bn in the same period last year, an increase of 24 per cent (YoY). Its net profit ratio was 14 per cent compared to 13 per cent YoY. The company announcement says that the gross profit margin improved to 34 per cent compared to 31 per cent YoY. This is mainly attributable... |
Thatta Cement Co experienced a significant rise in profit in 1QFY24-2528 October 2024, Published under Cement NewsThatta Cement Co Ltd in Pakistan announced its financial results on 25 October. It reported earnings of PKR597m (US$2.15m) for the 1QFY24-25. The YoY growth of 392 per cent in earnings is attributed to higher gross margins and other income. BMA Capital Management Ltd remarked that the earnings aligned with market expectations. The company’s topline increased by 17 per cent YoY to PKR1.7bn due to higher retention prices and growth in local cement dispatches. The company reported a distri... |
UltraTech to trial ZeroCal decarbonisation technology25 October 2024, Published under Cement NewsUltraTech Cement Ltd , India's largest cement and ready-mix concrete (RMC) company, announced the signing of a collaboration agreement with the Institute for Carbon Management (ICM) at the University of California, Los Angeles (UCLA) to pilot a groundbreaking new technology called The Zero Carbon Lime (ZeroCAL) developed by ICM. The technology is designed to significantly reduce carbon dioxide emissions from cement production. ICM, in partnership with UltraTech, will build a first-of-a-kind... |
Maple Leaf Cement exhibits fall in profit during 1QFY2525 October 2024, Published under Cement NewsMaple Leaf Cement announced its financial results for 1QFY24-25 on the Pakistan Stock Exchange (PSX) website on 24 October. It recorded consolidated earnings of PKR1.34bn (US$4.82m), compared to PKR1.626bn YoY, a 17.28 per cent fall. The initial impression from the result shows that lesser sales coupled with higher distribution and other expenses put pressure on net profit. Net revenue decreased to PKR15.7bn in 1QFY25 from PKR16.67bn in the last fiscal year, primarily due to lower domesti... |
Gharibwal Cement plans to enhance its solar generation capacity by 8MW to 20MW25 October 2024, Published under Cement NewsGharibwal Cement (GWLC) remains committed to diversifying away from the national grid. Its captive capacity stood at 70MW during FY24. Moreover, the company plans to enhance its solar generation capacity by 8MW to 20MW. The project’s cost is estimated at PKR550m, and its expected completion date is March 2025. According to BMA Research coverage of the briefing, the company’s reliance on the national grid increased to 32 per cent during the fiscal year, compared to 31 per cent in FY23. Mor... |
DG Khan Cement posts a profit after tax of PKR804m in 1QFY24-2518 October 2024, Published under Cement NewsDG Khan Cement announced its financial results on the Pakistan Stock Exchange (PSX) website on 17 October, reporting a profit after tax of PKR804m (US$2.89m) in the 1QFY24-25. This marks a 21.6 per cent increase from a profit of PKR661m in the equivalent period of the previous financial year, which followed a loss after tax of PKR1.692bn in the 1QFY22-23. A preliminary analysis indicates that a reduction in the cost of sales and lower financing costs contributed to the company’s notable pr... |
Pakistan producers expect mixed results in 1QFY24-2517 October 2024, Published under Cement NewsPakistan Stock Exchange (PSX) listed cement firms have yet to start posting their financial results for 1QFY24-25. However, Topline Pakistan Research believes that its Cement Universe (comprising Lucky Cement, Kohat Cement, DG Khan Cement , Maple Leaf Cement and Fauji Cement Co Ltd – the country's top five cement producers) is expected to post profitability of PKR13.3bn in the first quarter of FY24-25 against a profit of PKRs12.9bn in the 4QFY23-24, up by three per cent QoQ, mainly ... |
Fauji Cement exports to Afghanistan likely to increase in FY2511 October 2024, Published under Cement NewsThe management of Fauji Cement Co Ltd (FCCL) held an analyst briefing session on 9th October 2024 to discuss the company’s performance and future outlook. FCCL reported strong results for FY24, driven by significant cement and solar expansion investments. The company posted earnings of PKR8223m (US$29.6m) compared to PKR7440m in the previous period, a jump of 11 per cent YoY. In FY24, volumetric dispatches rose by five per cent, recording 5.08Mt, with local dispatches up by three per cent... |