TC July-August 2021 Issue

TRADE CHRONICLE
Cherat Cement Factory to
set up plant in DI Khan
The Cherat Cement Factory is going
to establish another plant in Paniala
town in Dera Ismail Khan to provide
employment opportunities to the local
populace.
During a recent visit, Chief Executive
Cherat Cement Factory Azam Farooq
and senior director Sales Amir Farooq
said that the management would soon
lay the foundation stone of the factory
in Paniala to meet the demand for the
cement at the local level and export
the commodity to the neighbouring
Maple Leaf plans
5MW Solar Plant
Maple Leaf Cement Factory Limited
has informed Pakistan Stock Exchange
(PSX) recently that the company has
signed a contract on August 10, 2021
with plant supplier, M/s. Zero Carbon,
for 5 MW Solar Plant at the existing plant
site Iskanderabad, District Mianwali,
Punjab, Pakistan. The expected date
of generation is January 01, 2022. The
total estimated cost of the project will
be PKR 450 million.
Bestway Cement, 14.3MW
captive solar power project
Bestway Cement and Reon Energy
Limited energized 14.3 MW captive
Solar Power Project at Farooqia,
Khyber Pakhtunkhwa. The Solar
Photovoltaic Plant is part of around a
50 MW project deal dispersed across
Bestway’s four locations i.e., Farooqia,
Chakwal, Kallar Kahar and Hattar.
The energy generated will also cut
around 1 million tonnes of CO2
equivalent emissions over the life of the
project, which is equal to plantation of
approximately 2.1 million trees.
countries. The staff members of
management and provincial president
Muttahida Labour Federation Iqbal
Khan were also present.
They said that Ghulam Farooq Group
of Companies was playing an important
role in the development of the country,
providing jobs to thousands of people
and earning foreign exchange.
The speakers also said that the
company had already announced the
establishment of the greenfield plant in
Khyber Pakhtunkhwa, which would cost
Rs34 billion and its daily production
would be 11,000 tons.
Azam Farooq and Amir Farooq said
Lucky Cement reports consolidated
earnings of PKR 28.2 billion for FY21
On a consolidated basis, Lucky Cement
Limited reported a profit after tax of
PKR 28.23 billion of which PKR 5.37
billion is attributable to non-controlling
interest for the year ended June 30,
2021. This translates into earnings
per share (EPS) of PKR 70.69 / share
as compared to PKR 18.96 / share
reported last year.
Further, on a consolidated basis, the
Company achieved gross turnover of
PKR 267.73 billion which is 64% higher
as compared to last year’s turnover of
PKR 162.87 billion.
During the year under review, the
Company’s consolidated net profit
(attributable to
owners’ of the
Holding Company)
increased by 273%
as compared to last
year. The increase
in Net Profit was
attributable to increase in profitability
of all the group companies. The PAT of
Cement segment (Holding Company)
grew by 3.21 times during the year
under review due to improved margins
and sales volumes. The increase in
sales volumes was attributable to
availability of newly commissioned
increased capacity of Line 1 for the
full year versus six months during the
corresponding period and the growth
of cement demand in local market on
the back of increase in construction
activities. The consolidated Net Profit
also grew due to considerable increase
in profitability of cement operations
of Joint Ventures outside Pakistan
and Company’s other subsidiaries in
the plant would
be completed
within three and a
notice had already
been sent to the
Pakistan Stock
Exchange. They
said that Cherat
was a trademark as the company
never compromised on the quality and
standard of its products.
The sale of cement jumped when
the construction sector was given
incentives by the government to provide
homes to the shelterless people in the
country.
Pakistan.
On a standalone basis
Company’s overall
sales volumes posted a high double
digit growth of 30.7% to reach 9.96
million tons during FY 2020-21. The
local sales volumes grew by 38.3% to
reach 7.56 million tons in comparison
to 5.46 million tons during last year.
Also, the export sales volumes of the
Company increased by 11.3% to 2.41
million tons as compared to 2.16 million
tons during last year.
Further, with regards to Company’s
standalone financial performance,
the gross sales revenue increased by
41.8% to PKR 88.36 billion compared
to PKR 62.30 billion reported last year.
The per ton cost of sales also decreased
mainly due to better absorption of fixed
cost as a result of
increase in volumes
and efficiencies
achieved from new
production line in
the North. Lucky
Cement recorded
net profit after tax of PKR 14.07 billion.
Similarly, the standalone EPS of the
Company is PKR 43.51 / share as
compared to last year’s reported EPS
of PKR 10.34 / share.
Despite the impacts of Covid-19
pandemic situation, the 1.2 MTPA
Greenfield cement production facility in
Samawah, Iraq successfully completed
its trial production on March 10, 2021.
The Company also reported that its 1 X
660 MW supercritical coal based power
project at Port Qasim has achieved
completion status of approximately
98.7% by June 30, 2021.
TRADE CHRONICLE - Jul - Aug - 2021 - Page # 18