Qudsia Bano

Lucky Cement Limited’s revenue from sales increased by 11% and stood at Rs25.4 billion in the first quarter (1QFY23) of the ongoing Financial Year 2022-23 compared to Rs22.97 billion in the corresponding period of the previous fiscal. The gross profit increased by 31% to Rs6 billion in 1QFY23 from Rs4.6 billion recorded in 1QFY22. The company posted a net profit of Rs3.8 billion in 1QFY23 from a profit of Rs3.3 billion over the corresponding period of FY22, showing a positive growth of 17% year-on-year, reports WealthPK.

Performance in 2021-22

During the Fiscal Year 2021-22, the company’s gross sales went up to Rs107 billion from Rs69.3 billion in FY21, posting a massive increase of 55% year-on-year. The gross profit for FY22 stood at Rs18 billion, 55% up from Rs11.6 billion in FY21. The profit after tax for the year went down by 22% to Rs6.9 billion from Rs8.85 billion in FY21, reports WealthPK.

As of June 30, 2022, directors, sponsors, chief executive officers, and executives owned 40.52% of the shares of the company, the associated companies 22.96%, banks, development financial institutions, and non-banking financial institutions 3.42%, insurance companies 3.1%, modarabas 0.02%, mutual funds 4.28%, general public (local) 15.78%, foreign 7.47% and others 1.64%.

Earnings Per Share and profitability:

The EPS of the company showed a positive growth during the recent years. In FY21, the EPS increased to Rs43.51 from Rs10.34 in FY20. The EPS also increased in FY22 and registered at Rs47.31. Similarly, the net profit margin of the company also showed a positive growth during the recent year. The net profit margin was 22.35% during FY21; however, it slightly decreased to 18.87 in FY22.

About the company:

Lucky Cement Limited 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 manufacture and marketing of cement.

Credit : Independent News Pakistan-WealthPk