ISLAMABAD: The top five cement sector players generated more revenue in the first quarter (July-Sept) of the ongoing fiscal year 2022-23 than the corresponding period of the preceding fiscal despite suppressed demand, WealthPK reports.
The cement sector on Pakistan Stock Exchange is represented by a group of 23 public limited entities.
Lucky Cement Limited has PSX symbol of “LUCK” and with the market cap of around Rs140.3 billion, it is recognised as the biggest company in the cement sector. Bestway Cement Limited (BWCL) and Kohat Cement Company Limited (KOHC) with the market caps of Rs72.4 billion and Rs28.5 billion stood second and third, respectively.
Fauji Cement Company Limited (FCCL) and Maple Leaf Cement Factory Limited (MLCF) took fourth and fifth positions with the market caps of Rs28 billion and Rs23.6 billion, respectively.
In comparison to the same quarter last year, the top five companies’ volume of gross sales increased by 19% with total sales standing at Rs87 billion.
Likewise, the collective gross profit value of the top five firms went up by 35% from Rs16 billion in 1QFY22 to Rs22 billion in 1QFY23. The cumulative net profits of the cement giants increased by 21% year-on-year to clock in at Rs12.4 billion in 1QFY23.
Out of major cement players, KOHC remained the most profitable and reported the highest gross profit ratio of 31.30%, followed by FCCL and MLCF with the gross profit ratios of 28.66% and 27.82%, respectively.
However, with the gross profit ratio of 23.97% and 23.71%, respectively, BWCL and LUCK stood fourth and fifth in profit making in 1QFY23.
Of the top five, KOHC earned the highest net profit ratio of 20.16% from the sales of Rs8.8 billion. Whereas its highest earning per share in 1QFY23 remained Rs11.91 apiece.
LUCK performance in 1QFY23
LUCK earned gross sales of Rs25.4 billion in 1QFY23 compared to sales of Rs22.9 billion in the same quarter last year.
As a result, the company’s gross profit moved up to Rs6 billion with EPS value increasing from Rs10.15 to Rs11.91 in the 1QFY23.
BWCL performance in 1QFY23
BWCL earned gross sales of Rs25.3 billion in 1QFY23 compared to sales of Rs22.2 billion in the same quarter last year.
The firm’s gross profit moved up to Rs6 billion from Rs4.6 billion and EPS value increased from Rs5.02 to Rs5.55 during the two comparable periods under review.
KOHC performance in 1QFY23
KOHC earned gross sales of Rs8.8 billion compared to the sales of Rs6.8 billion during the two quarters being compared.
Its gross profit pushed up to Rs2.7 billion from Rs2.2 billion and EPS value increased from Rs6.96 to Rs8.89 during the two comparable quarters.
FCCL performance in 1QFY23
FCCL’s gross sales increased to Rs14 billion 1QFY23 from Rs11 billion in 1QFY22.
Its gross profit edged up to Rs4.2 billion from Rs3.4 billion and EPS value increased from Rs0.97 to Rs1.06 from 1QFY22 to 1QFY23.
MLCF performance in 1QFY23
MLCF generated gross sales of Rs12.8 billion 1QFY23 over sales of Rs9.8 billion in 1QFY22.
Its gross profit jumped to Rs3.5 billion from Rs1.9 billion and EPS value increased from Rs0.51 to Rs1.13 during the two comparable periods.
