Thatta Cement Company Limited (THCCL) has approved the issuance of a Rs5.5 billion Sukuk to finance the expansion of its production capacity or to acquire an operational company.
The company disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Monday.
“The Board of Directors, after evaluating various options, has approved the issuance of a Sukuk amounting to Rs5.5 billion, including a green shoe option of Rs500 million,” the notice stated.
THCCL explained that these funds, along with internally generated resources, will be used to expand existing production capacity or acquire an already operational company. The notice added that the initiative aims to accelerate growth, diversify revenue streams, strengthen the company’s competitive position, and generate sustainable returns for shareholders.
As per its latest financial results, THCCL reported a profit of Rs2.34 billion in FY25, up from Rs1.28 billion in FY24, reflecting an 83% increase. Earnings per share (EPS) rose to Rs28.28 from Rs16.08 in the previous year.
THCCL, incorporated in 1980, manufactures and markets cement and owns Thatta Power (Private) Limited. In April, the company commissioned a 4.8MW wind power project at its Thatta plant, bringing total renewable energy capacity to 9.8MW, including a 5MW solar installation. The project began operations on April 3, 2025.
