Karachi August 10 2024: Lucky Cement Limited, a leading conglomerate in Pakistan, has reported highest profit in the company’s history for the fiscal year ending 2024 on Friday, according to the filing at Pakistan Stock Exchange.
On the consolidated basis, the company reported a profit after tax of PKR 65,556 million, equivalent to PKR 223.74 per share, compared to PKR 48,758 million in the previous year. The increase in profit was despite a 20% rise in finance costs, reaching PKR 36,699 million, largely due to higher interest rates.
On an unconsolidated basis, the company’s gross margins for 2024 improved to 34%, up from 27% in 2023. This growth was driven by higher retention prices and better inventory management, as highlighted by Muhammad Amad, CFA, an analyst at Arif Habib Limited, in his research note.
He further noted that in the fourth quarter of 2024, gross margins increased by 469 basis points compared to the same period in 2023, reaching 32%. This improvement was attributed to lower coal prices alongside higher cement prices.
Lucky Cement Limited, incorporated in Pakistan on September 18, 1993, under the Companies Ordinance, 1984 (now the Companies Act, 2017), is listed on the Pakistan Stock Exchange (PSX). The company’s primary business is the manufacturing and marketing of cement.
The registered office is located in Pezu, District Lakki Marwat, Khyber Pakhtunkhwa, with the corporate office in Muhammad Ali Housing Society, A. Aziz Hashim Tabba Street, Karachi. Lucky Cement operates two production facilities: one in Pezu, District Lakki Marwat, Khyber Pakhtunkhwa, and the other on the Main Super Highway in Karachi, Sindh. Additionally, the company has liaison offices in Islamabad, Quetta, Multan, Faisalabad, Lahore, and Peshawar.
