January 27, 2024

Lucky Cement’s profits surge by 109% in first half of FY23

Company’s board recommended no cash dividend, bonus, or right share issue

January 27, 2024

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Lucky Cement has reported a 12.7% increase in revenues, a 66.1% rise in operating profits, and a 109.1% growth in net profit for the half-year ending on December 31, 2023.

According to a notice sent to the Pakistan Stock Exchange (PSX), the primary reason for the increase in gross revenues on a consolidated basis is the higher domestic sales and increased revenues from subsidiaries, namely Lucky Electric Power Company and Lucky Core Industries Limited.

All Values in Million Except EPS	1H FY23	1H FY24	Percentage Change
Gross Revenue	219,532	247,475	12.7%
Net Revenue	185,590	206,523	11.3%
Gross Profit	39,064	63,062	61.4%
Gross Profit Margin	17.79%	25.48%	43.2%
Operating Profits	30,937	51,375	66.1%
EBITDA	38,771	60,328	55.6%
Net Profit	18,324	38,324	109.2%
Net Profit Margin	8.35%	15.49%	85.5%
Net Profit Attributable to Company Owners	15,913	35,339	122.1%
Earnings Per Share (EPS) RS	49.32	117.19	137.6%

The company’s total cement dispatches increased by 23% year-on-year to 4.41 million tons which drove the high revenue growth during the period under review. Export dispatches rose by 59% in the first half of FY24 compared to the 16% increase in local dispatches.

The company also successfully added a new cement line in Pezu.

Lucky Cement was incorporated in Pakistan on September 18, 1993 under the Companies Ordinance, 1984 (now the Companies Act, 2017). The principal activity of the Company is the manufacturing and marketing of cement.

Lucky Cement