Financial Results for the quarter Eneded March 31, 2025

LCK/CS/2024-25/

The General Manager Pakistan Stock Exchange Limited

Stock Exchange Road Off: I.I. Chundrigar Road Karachi

The Director / HOD Surveillance Supervision and Endorsement Dept Securities & Exchange Commission of Pakistan Islamabad

Apñ{2 2025

FINANCIAL RESULTS FOR THE 3RDQUARTER ENDED MARCH 31, 2025

Dear Sir(s),

This is to inform you that the Board of Directors of our Company in their meeting held on Friday, April 25, 2025 at4:30 p.m., at 6-A, Muhammad Ali Housing Society, / Aziz Hashim Tabba Street Karachi-7M50, have recommended the following:

The financial results of the Company consisting of(1) Consolidated and Standalone condensed interim Statements Df Financial Position;(2) Statement of Comprehensive income;(3) Statement of Changes in Equity;(4) Statement of Cash Flows and(5) Directors Report are annexed.

Restated£arninysPerEhare

For understanding of the shareholders, it is clarified that the Earnings Per Share mentioned in the Financial Statements and Directors' report has been restated to reflect the 5-for-1 stock split as was approved by the shareholders at the Extraordinary General Meeting (EOGM) held on March 18, 2025. Pursuant to the stock split the tace value of the Company's shares has been reduced from PKR 10 per share to PKR 2 per share. Consequently, the total number of issued shares has increased from 293,000,000 to 1,465,000,000.

be will be transmitting the 3* quarterly report of the Company for the period ended March 31, 2025 through PUCARS separately, within the specified time.

You may please inform the TREC holders acE0rdingty.

Yours truly,

for:I kY CEMENT LIMITED

>

Ati Sha b

General nager Legal

& Company Secretary

YBG

L« v C nJcnL Lili itLct

CONSOLIDATED CONDENSED STATEMENT OF FINANCIAL POSITION AS AT MARCH 31, 2025

A8SETS

NON-CURRENT nSSETS

Property, plant bad equipraeot

Lmg-tetai loans and advances Long-term deposits

Stores, apares md consumables Stock-in-trade

Tmde deposit aod skort-tarra prspaymmts

Other recnivables

Tax refunds dun frotri the Government Taxation receivable

Accrued return

Short-term invosonents Caah and bank balances

TOTAL ASSETS

EQMTYAMBLIABILMIES

5lARECAPITALANDRESERYE9

Attributable to the owners of the holding Company

NON-CDRRfiNT LIABILITIES

Longterm loans

Long-tern deposits and other liabilities Lease liabilities

Defend Government grant Deferred liabilities

• staff gratuiV

• Deferred tax liability

CURRENT LIABZLiTtZS

Curreat ozaturity oftoog•terzo loaas Trade aod o6tcr payables

Taxation - net

Accrued zoarLup

Skart-tcno barrowiogs aad ruaaâig Eomice Currmt portico ofTaas«liabilities

Note

5

6

(Un-anditrd)

H3,994,590

7,9 6Q97

26B,042

3MJNt29

88,730,547

1008,342

403,010,950

10,657,665

16,1S$,787

g12 125,B31

19,423

4t500,757

322,b90,253

725.70t, A3

2,930,000

327,192,798

3&947,7M

566,140,521

(Aufitofl

Ivnc 30,

2024

298J71,892

6,625,546

182,457

305,379,895

78,083.i62

964,936

100.655

384,528,648

24$34,?21

68,049,161

67,727,487

3,468,097

6 96,487

17,156,798

y38,812 J6Q98 '25,0?6 44,899,06d

41,96388

275,132,977

65.9,66t.625

2,930,000

270.é95,520

273,625,5 0

37,005.525

310,631,448

114,167,975

929M3

157,478

3,412,709

3,598,132

24,040,514

27.63&646

i64,667,881

ll/67#33 77'$87,187

65085

38447

59.t4B

184,362496

TOTAL EQUITY AND LInBILITIRS

CONTINGENCIES AND COMMITMENTS 7

359,560,G82

T8l,S28

2 74Z

4,150,'765

1/6$8,5O7

90,365,215

2Q037S2

1,863,z96

74,056

66,117

725,Y0t,103

349.030,177

659.661.62y

a

The fmm 1 te 13 form an integral part of these correct.dared mndensed interim finmmal statements.

CbicrZx

LUCKY CENfENT LIMITED

CONSOLIDATED CONDENSED £N ne›i r+TEMENT OF PROFIT OR LOSS FOR THE NINE MONTHS ENDED MARCH 31, 2025 (LV-AUDITED)

Restated

Restated

Note

Nine months ended

March 31, Marcb SI,

2025 2024 (PHA io '000')

Quarter ended

March 31, March 31,

2025 2024 (PKR iD '000')

Gross Revenue

Less: Sales tax and excise duty

Rebates, incentives and commission

€9977,29 llI07J72

49,768,498

10,764,181

15,710,899

22J92,l83

3,604,772

3,869,43"

8l,086I01 60,532,679 26,196,955 19,580,33 l

Net Revenue

Cost of sales

Distribution cos: Administrative expenses Finance costs

Other expenses Other income

Share of profit - joint ventures and associate Profit before levy and taxsti0n

332.814.915 3*6.312.460 108J35.896 99.789.768

(238,295J44) (213,921,708) (78,933,995) (70,460,740)

94,5t9,671 92,390,752 29,401,901 29,329,028

(13,041,865) (11,180,878) (3,890,115) (3,781,645)

(6,682,566) (6,252.115) (2,577J36j (1,964J05)

(20,281,694) (27,878,594) (5,407,203) (8,657,080)

(3,632,104) (3,245,I49) (1,244,629) (918,501)

15J63,686 14.150,742 4,823,S25 4,066,634

12,930,592 11,505,566 3,746,813 3.052 885

79,375,720 69,490,324 24&52,956 21,127, 116

Lwy

Profit before taxation

(430,101)

78.945,619

(1.284,755) (121) (435,715)

68,205,569 24,852,B3B 20,691,401

Taxation (15,808,959) (12,554,619) (5,236,915) (3,364J82)

PcoRI after taxation

Attributable to:

Owners of the Holding Company Non-controlling interest

Earnings per share - basic and diluted •

63J36,M0

57J13,557

5,B23,103

63,136,660

9 39.12

55.650.950

S0,92J,737

55,650,950

34.10

19,615,920 17.327,119

17,947,285 15,586,574

1,668,635 1,740,f45

I 9,615,920 17,327, I l9

12.25 10.64

• Based on revised number of shares i.e. 1,465,000,000 at face value of .°KR 2/- each (previous: 293,000,000 at face value of PKk 10/- each), pursuant to stock split approved by the shareholders in Extra Ordinary General Meets held on March 18, 2025 wherein numbers of sbares have been sub-divided into ratio of 5-for-1.

The annexed notes truer 1 to 13 form an integral part of these consolidated condensed snterim financial statements.

LUCKY CEMENT LIM ITED

CONSOLIDATED CONDENSED INTERIM STATEI4F",T OF COMPREHENSIVE INCONIE FOR THE N INE MONTHS ENDED SIARCH 31, 202'› UN-AUDITED)

Nine months ended

March 3l, March 31.

2025 2024 (PKR in '000')

Quarter ended

ñ4srch 31, March 31,

2025 2024

(PKR in 'OOC')

Profit after taxation

Other comprehensive income / (loss):

Items which will not be reclassified to profit or loss

Foreign exchange differences on translation of foreign operations Remeasurement of equity instrument at fair value

through other compreheiuix'9 income

Deferred tax thereon

63,136,660 55,6J0,950

19,615,920 17.3 27,1 19

The annexed notes from I to 13 form an iniegml part of the. -- consolidated condensed interim financial staterrients.

cuti

ChiefEx

FOI YtRN0£xONTHSENDED0htRCE3l,R21(U AEDITRD)

Dividends paid lo no ontrolling interest

3,118,386 7.,343,422 115,36.4 22.184,577 40,000.000 40;000,000 35i&] 5,875

78,906:397 224,365.i635. 33,515i038 260;999,059

{3,O70,8B4) .t3,07.0,884:}

Ohm shures: purchased for cnncellsHon

final Iñvidend for ilea year ended ,Julie 30, 2023.

OlJier comprehension income

(188(386)

(12,124,669)

(l2,I24;669)

( l,7fi0,956)

(5,452,ll7j

ILlNnCeA9:AtA1'AWCl]31,202d

Detainee.a8 nt J.my 1, 2024

Divi5oids psi " ... 'ion-conlrolltng lntCmst

Final Dividend for the. jeer erldnd Jti'rié..30,"2.02'l

Profit utter texatinii

Otiier comprchensivc income

Tntnl.comprehensive incoine.for the nine. month eiided march 3t, 2025

Iln Inner his n't MRrth 31, z025

( i ,7.80,'93G)

2:;930,000 7,343,422 303,750 '* 20,403,621 40,000;0.00 40,0.00,000 23,69.1,206.

S7,3I 3,557

19, 189

57.3.1.3,557

648,721

5;823 102

63,.13.6,659.

648,721

2,94'0,000 Y,343,422: 303,'750 20,455,41s 40,000;OOI› 40;000,000 23,691,206

2,930,000. 7:343,J22 303,750 21,085,947 40,000.000 40i000,000 23;691,206.

50,9.27,9.82 49,1.47,026 4,725,213 53,872;239

- 12d,382,262 256;124,26.1 " 35;169,367 294,223,62&

138,904;M7 270,695,520 37j005,928 310,631,448

(4,39S,OOO) (41950D0) (4,395.000):

.57,332,7 16: 57,9G2,278 5,823.;102 .63,785,3.80

- 191,838,473 :32Ji262,798 38,947,723 366i140:521

'fire annexed cores:from 1 to 13 form nn integral part of these consolidated conrienscd inmrim innncial statements.

LUCKY CEMENT LIMITED

CONSOLIDATED CONDENSED INTERIM STATEMENT or cAsH FLOWS ron ToE NINE MONTHS ENDED Mn RCH 31, 2025 (UN-AUDITED)

Nine months ended

The annexed notes fi'om to 13 form an integral part of these consolidated condensed interim financial statements.

cut e

Chairman / Di ctor Chief E Chief ' ci Officer

ASSETS

NON-CURRENT ASSETS

Fixed Assets

Noie

(PKR in '000')

Long-term deposits

CURRENT ASSETS

Stores and spares Stock-in-trade Trade debts

Loans and advances

Trade deposits arid short-term prepayments Accrued return

Other receivables

Tax refunds due dom the Government Short-term investments

Cash and bank balances

TOTAL ASSETS

EQUITY IND LIABILITIES SHARE CAPITAL AND RESERVES

Share Capital Reserves

NON-CURRENT LIABILITIES

Long-term deposits Long-term loans

Deferred Gos'emment grant Deferred liabilities

• Staff gratuity

• Deferred tax liability

CURRENT LIABILITY ES

2'rade and other payables

Current maturity of long-term loans Short-term borrowings

Unclaimed dividend Acrued makup Taanon - net

7,8J2

I64J04,678 14,790,039

6,322,774

125o,200

450,783

19,423

4,5»5,360

538,812

61,985,793

2,040,608

98,055,304

262.559,982

2,930,000

I67,802,196 170,73Z,196

7.642 165.566,006

14,5s Loz

8.505,4?6

6.932,479

964,732

158.422

35.076

4,320,512

538.813

?.567,176

68,452,084

234.018.090

2,930,000

144,831,277

I 47,761,277

TOTAL EQUITY A W LIABI UTI ES

CONTINGENCIES AND COMM ITM ENTS

91,827,786

262J59,982

10

86,256,813

234.018.090

The annexed notes from 1 to 17 form an integral part of these unconsolidated condensed interim financial

xcc 've

Chief

LUCKYCEMENTLDMTED

UnzoosotidzHdCondzosodfa mSd4mm*ntofProfltorLosz

fior the Nine months ended March 31, 2025 (Un-audited)

Note

Restated Restated

Nine months ended Quarter Bndod

March 31, March 31, March 31, March 31.

2025 2024 2025 2024 (PKR in '000') {PKR in'00Q

11 t32,f96,360 ll5J87,0l5 42,751,758 36,323,438

Less: Sales tax and federal excise duty Rebates, iaccotjves and commission

36,139,128

1,610,040

I3,113,Z47

4tt437

Net Revenue

Distribution cost Administrative expenses Finance oosts

Profit before Taxation and Levy

Profit before Taxation

Taxation

Profit after Taxation

3Y,'749,168 28,183,14d t2,s25,18d

26,35S,4g9

1,627,677

94,547,192 87,403,869 30,226,574 27,523,401

(62,519,331) (57,651,371) (20,188,660) (19,591,250)

32,027,861 29,752,498 10,637,914 7,.<32,151

(6,962,605) (5,645,258) (2,056,261) (1,898,865)

(1,826,728) (1,566,548) (616,497} (546,720)

(,113,3'79) (I,t94,679) '(Z86,533) (389,106)

(2,258,302) (2,645,7I) (846,677} (789,381) t8,462,018 9,064.Dd4 1O,982,B70 2,86&,ROI

38,328,865 27,764,36S 17,214,816 7,176,580

(417,444) (660,444) - (227,073)

37,911,421 27,103,932 17,Z14,816 6,949,307

(J0,564,690) (8,455,421) (3,708,221) (2,011,122)

Z7J4d,731 I8.648,501 13 ,S95 4,938385 (PKR) --(PKR)

1g.G'7 11.49 9.1y 3.37

* Bm‹d onmised nmmbs of Maes i.e. 1,46J0OOO0O mfsx aue of PKR 2A mfi (pm%ous: 293,000,000 B{acz'uducofPKR 10/-‹xnh), pursuant to stock split approved by the shareholders in Extra Ordinary Oertcml Meeting held on March 18, 2025 wherein nimibers of shares have been sub-divided into ratio of 5-for-1.

The armexed notes from 1 to 17 fomi ari integral part of these uneonsolidated condensed interim financial statements.

LUC KY CEO ENT LIM ITED

Unconsolidated Condensed Interim Statement of Couiprebensive Income For the Nine months ended March 31, 2025 (Un-aufi ited)

Nine months ended Quarter Ended tttarch 31, March 31, Starch 31, March 3 l.

202fi 2024 2P25 2024

(PKR in '000') (PKR in '000')

Profit after Taxation

Other comprehensive Incoitie / (Lossl

ltems xvhi ch wi11 not be recl hssified to profit or !oss

Remeasurement of equiry instrument

at fair value through other comprehensive income Deferred tax thereon

Total tt›0iprehensive income for the period

27N46.731 I 8,648 SU I 13,506,595 4,938,S8n

the annexed notes from I to 17 form an integral pan or'these unconsolidated condensed interim financial statements.

Chief E8ecuti e

40.000,000

2 3 ,G0 !, 206

(4,395,000)

8.650.746 18,650.746

LUCKY CEMENT LIMITED

Unconsolidated Condensed Interim Statement of Cash Flows For tha Nine months ended March 51, 2025 (Un-audIted)

Note

Nlne months ended

March 31, March 31,

2025 2024

(T'PR m 'O0O§

CASH FLOWS FROM OPERATING dLKTIVITlES

Cash generated £rom operations

Taxes and levy paid Staff Gratuity paid Finance cost paid

Income from deposits with Islamic banks

(Increase) / decrease in long-tern loans and advances Increase in long-term deposits (liabilities)

CASH FLOWS FROM INVESTING ACTIVITIES

13 27,422,569

(1,213,102)

229,991

5,525

24,389,685 (1,4t7,98O)

(1,436,424)

564,882

13,636

225

21,964,024

Purchase of property, plant and equipment including capital spares lnvestment in associate

Proceeds on disposal of property, plant and equipment Dividend received

Income received on short tern investments

Placement of balances held as lien

Net cash generated from f (used in) investing activities

CASH FLOWS FROM FINANCING ACTIVITIES

Long-term loans repaid

Short term borrowing obtained / (repaid) Own shares purchased for cancellation Dividend paid

Net cash used in financing activities

Net increase in cash and cash equivalents

Cash and cash equivalents at the beginning of the period

Cash and cash equivalents at the end of the petiod 13.1

77"379

11,964,003

(4,797,099)

52,382,131

62,516,799

(9,542,497)

(477,888)

120,258

4,654,069

3,361,565

(1,884,493)

(404,530)

(400,000)

(12,124,669)

(5,442,751)

(18,371,950)

1,707,581

26,001,579

27,709,160

The annexed notes from 1 to 17 form as integral part of these unconsolidated condensed interim financial statements.

e

e

Chief E iicial Officer

m"

LUCKY

CEMENT

Directors' Report

The Directors of your CDmpany are pleased to present to yDu the financial results for the nine-months period ended March 3I, 2025, based on the consolidated and unconsolidated financial statements for the said period.

The rine months of FY25 marked a continued stabilization of the economy, supposed by targeted policy measures and improving external conditions. The current account recorded a surplus of USD 1.9 bilJon during 9M FY25, largely attributed to a historic rise in workers' remittances, which reached USD 4.1billion in March 2025. overall, remittances grew by 33•a YoY.totaling USD 28.0 billion, up from USD 21.0 billion in the same period last year(SPLY}.

A staff-level agreement(SL) was reached between the IMF and Pakistan for the first review( USD 1 billion) under the Extended Fund Facility (EFF) totaling USD 7 billion, and a new arrangement under the Resilience and Sustainability Facility (RSF) of USD 1.3 billion. Pending Executive Board approval, this is expected to strengthen external financing and support climate resilience and p0licy continuity.

Recently, Pakistan's Long-Term Foreign-Cu rency Issuer Default Rating(IDR) was upgraded 1rom 'CCC+' to 'B-'with a "Stable" Outlook by Fitch Ratings, reflecting improved fiscal discipline, external stability, and structural reforms. This upgrade is anticipated to pave the way for Pakistan's accessto international capital markets and contribute towards building invest0r confidence.

The State Bank Df Pakistan (SBP), ln its latest Monetary Policy Committee meeting, maintained the policy rate at12*â, indicating a flattening of the earlier monetary easing stance. This level of rates should stimulate economic activir/ while keeping inflation in checL CPI inflatiDn continued its downward trend in Marth 2025, supported by declining f0Dd and energy prices. Inf(ati0n dr0pped to a six-decade low of 0.7^é YoY in March 2025, a sigrificart decline from 20.68^4 in March 2024. This sharp drop brought the average inflation rate of sM FY25 to 5.36, compared to 27.06% in the SPLY.

Large-Scale Manufacturing(LSM) continued tc contract on a year-en-year basis, reflecting persistent challenges. The demand contraction due to lower growth will continue to persist for some time which could result in cement demand remaining atlevels similar to last year.

On the fiscal side. tax collection during 9M FY25 reached PKR 8,464 billion, faI1ing short of the PKR 9,167 billion target by PKR 703 billion. This shortfall reflects challenges in tax compliance and the sluggish pace cf economic recovery. Dessite these issues, economy showed signs of resilience due to ongoing reforms and gradual recovery in certain key sectors.

On a consolidated basis, your Company reported gross revenue of PKR 413.9 billion, up 1I8•4 mom PKR 366.8 billion in the SPL'/. This increase was driven mainly by improved performance from the Company and its subsidiary, Lucky Motor Corporation.

Furthermore, the Company's consolidated net pro1it was PKR 63.1 billion, of which PKR 5.8 billion was attributable to non-controlling interests. The net profit attributable to shareholders of the Company translated into an EPS of PKR 39.1 for 9M FY25, compared tD PKR 34. in the SPLY,which is a 14.7% increase.

1.ucL Cement f,irnited

The consolidated financial performance Dfyour Company for the nine months ended March 31, 2025, as compared to SPLY, is presented below:

"EPSliasbeenrestaiedta/elIectifie5-fler-1stacts/'-i(expIainedindetail inlfie ZPSsectian below)

be Companys net profit for 9M FY25 has shown improvement compared to SPLY, primarily driven by the increased pr0fit8bitiy of foreign cement operations, Lucky Motor Corporation and Lucky Core Industrl6S.

During9M Fr25, the Company recorded an increase of149t in gross sales revenue compared to SPLY.This growth was primarily attributed to a significant rise in expDrt volumes, which surged by7G6 year-over-year, offsetting a s6 decline in domesticsalesvotumes.The drop in focal sales was mBlht} driven by reduced demand and an increase in taxes and levies.The cement indust/s local sales also declined by 7% due to the same reasons.

Foreign Cement Operations

The cement production facilities in Iraq and Congo, operating under joint venNre agreements, con0nued to enhance the Company's profitabitiywith improved margins.Cementsales showed an upward trajeEtoF/both in Iraq and Congo. Moreover, full capacity utilization at Najmat-At-Samawah,in Iraq, further improved your Companys profitability.

Lucky Core Industries' (LCI) net turnover for the nine months under review recorded at PKR 92.1 billion, which is 1% higher compared to SPLY. Net turnover of the Pharmaceuticals and Polyester businesses increased by 74% and SP respectively as compared to the SPLY, whereas the SodaAsh,AnimalHealth and Chemical &/gri Sciences business witnessed a decline of 17%, 1Z6 and 5% respectively as compared to the SPLY.

The operating result for the nine months under review stood at PKR 13.6 billion, which is 8s higher than the SPLY. The Pharmaceuticals and Polyester businesses delivered higher operating resu2s of 12296 and 31tt respectively as compared to SPLY.The opera0ng performance of the Animal Health business remained almost in line wifh the SPLY. whereas the Soda Ash and Chemical & Agri Sciences businesses posted a decline in Operating Results of 15a and 11% respectively as compared to the SPLY.

Growth in the Pharmaceutical business performance was supported by the seamless integration of be assets acquired from Pfize› group entities, marking a significant milestone for Lucky Core Industries. The base business performance was driven by recovery in margins benefiting from an improvement and sibility in the value of the Pak Rupee, inftation-related price adjustments of certain non-essential medicines, improvement in sales mix, and continued focus on operational efficiencies.

Lucky Cement Limited

6-A, Mohammad Ali Housing Society; A. Aziz Hashiir Tabba Street, Karachi-753fi0. U.A.N: 111-786-555 F: 34f34301 E: info$lucky-cement.com

URL: wwwJucky-cement.com

The Polyester business'improved performance was driven by elevated global freight costs in the first half of the FY 24-25, '.vhich made imported PSF more expensive, improved sales of specialized variants and improved operational efficiencies. The Soda Ash Business continued to be impacted by subdued local'demand dCfOSS major segments. Additionally, export sales suffered significantly due to lower export prices and higher lreightcosts making export sales economicallyunviable.The Chemicals & AgriSciences and Animal Health businesses faced Ehallenges on the demand front driven by weak consumer purchasing power.

Automobiles & Mobile Phones

The automobile sector demonstrated an improvement ir volumes during the nine months of FY25 compared to the SPLY on the back of stable PKR to USD exchange rate, the State Bank o1Pakistan's decision to reduce the discount rate in recent monetary policy statements, decline in irtlation, and lower fuel prices. The sector observed an overall volume increase of around 556 compared to last year.

Dee to the imposition of 18^A GST effective 1st July 2074, smartphone imports registered a decline of 11% ir volume

and 9*a in value in the nine months of FY25 compared to the SPLY.

Power

LzCky Electric Power C0r ga0y Limited (LEPCL), a 660 MW ultra-super critical coal fired power plant commenced its commercial operations in March 2022 and is currently in its third year of operation. The plant has maintained 100% commercial availability throughout the current period and ago underwent a scheduled outage in January 2025.

Cement Industry & Company's Performance- Unconsolidated

During 9M FY25,Pakistan's domestic cement sales volumes recorded a decline of6.5%, decreasing to 27.5million tons from 29.4 million tons in the SPLY. In contrast exports demonstrated robust growth, surging by 28.1% t0 6.5 million tans compared to 5.1million tons in the SPLY. Consequently,the totalirdustry sales volume deemed by1.4%, reaching

34.0 million tors in 9M FY 2025 compared to 34.5 million tons in the SPLY. The decline in domestic volumes can

primarily be attributed to a showdown in mega infrastructure project, as well as a substantial increase in Federal

Excise Duty(FED), royalties, and other applicable taxes on cement industry.

Against the backdrop of the industry's overall performance, your Company's results showed moderate improvement with total sa(es volumes increasing by 10.0^é to 7.1 million tons ir 9M FY25, CDffl§Bf9d t0 6.4 mlllion t0ns in the SPLY. Local sales volumes, however, declined by 9.1•4, reducing to 4.5 mifli0n tons in 9M FY2S from 5.0 million tons in 9M FY24. Conversely, export volumes experienced a sharp growth of 75.6%, rising to ZS million tons during the nine-month period compared to 1.5 milli0f tons in the SPLY. This significant growth ir exports was drive by improved global demand as well as access to new export markets.

Cement Production & Sales Votume Performance

The local cement production and sales statistics ol your Company for the nine mohths ended March 31, 2025, compared to the SPLY are as follows:

9M FY25

9M FY24

(Decline)

Ionsin'OOO'

Clinker Production Cement Production Cement/ Clinker Sales

6,015

5,482

7,073

5,977 0.6%

5,752 (4.79t)

6,430 @ 10.0%

T..ucx Cement I..›mitv°d

3

RBG

A comparison oT Pakistan's Cement Industry and y0ur Company's dispatches Tai the nine months ended March 31, 2025, !n comparison with SPLY, Is presented below:

Cement Industry Local Sales Export Sales

• Bagged

• Loose

• Clin ker

  Total Exports

  27,498

  2,336

  4,196

6,532

29,415

5,101

(1,918)

1,431

(6.5%}

28.1%

Grand Total

Lucky Cement tccal Sales

2,549

7,073

4,979

1,452

6,430

(4Sd)

1,097

643

(9.1%)

10.0%

Loca( Safes

Export Safes

16.5%

(0.3%)

Total Export

Grand Total

28.5%

l8.Z%

36.8%

13.Y96

FinanciaiPedonnante-UntonsoCQated

The unconsotidated financial performance of your Company for the nine months ended March 31, 2025, as compared to the SPLY, is presented below:

Revenue

During the nine months period under review, your Company achieved a 14.5s increase in overall gross revenue compared to the SPLY. Local sales revenue rose by s.0%, reaching PKR 108.0 billion compared to PKR 100.0 billion in SPLYwher•.as export sales revenue experienced significant growth, surging by 55.3% to PKR 24.3 billion from PKR 15.6 bltlion in SPLY.

Ccst of Safes

Cost of sales increased by 8.40a,reaching PKR 615 bikion, compared to PKR 57.7 billion ir the SPLY. This rise was largely driven by inflationary pressures, increase in royalty on mineral and energy costs

Gross Profit

The Company's gross pFDfit margin remained stable at 34d. This was drived by a consistent focus oz cost conttoL

operatonat efficiency, and continued investment in renewable energy Initiatives.

Gross Profit (PKR Billion)

3Q-25

2Q•25

1&25

4Q-24

3J24

2J24

1D24

10.0

9.8

9.1

75

O

1R8

Lucky Cement Lolled

6-A, Mohammad Ali Housing Society, A. Amir Hashim Tabba Sirtet, Karachi-75350. U.A.h: 11 l -786-555 F: 34534302 E: infO@lucky-cement.com

URL: www lucky-cemenr.com

Otherlnceme

During9M F¥2s,thedMdendincomereceived byyourCompa«yfromiasubsidIarIeswasPKIt1Z7billianvs PKR4.7 bil6andunngtheSPLY.

10

FY 25

LCI 17

LHL

L7 1.4 17

LEPCL &0 60

LMC M 14 - - - 14 -

Total 9.3 1.4 2.0 &0 M IA GB

*partfrom the above, otherIncome prlma‹ilyconsists ctreturnsfromsl›ort-tern investreno in islamic m«t«atf«nds

with a cred"£ratingofAAand above.

Xet PrekR

YourCompanyachlevrdaprofitbeforetaxof PER3B3 billionduring9M F¥2s as compared toPi0t27.8 billion reported duringQe SPLY,reflecting a significant year-only improvement

Accoldingly, an after-tax p‹ofitof PItR 27Jbiltionwas achieved during the nine-month perlod under review, reflecting a growth of 47d as compaedto PKR18.7 bittion sported duri«gtheSPLY.

Lucky Cement Limited

S-A, Mohammad Ali Housing Society n. Aziz Haabim Tsbba Street, EaracH-75350.

VG: th-786-555 J?:34s34302 E:lofoel cE -rcmc ccoza

YBG

Earnings Per Share (EPS]

The earnings per share o1 your Company for 9M FY25 stood at PKk 18.67 in comparison to PKR 12.49 reposed during

the SPL'/.

EPS Trend{PKR)

.57

4.97

1J4 2J24 3J24 4Q4 U2S 2OZ5 BO25

As per requirements of International Financial Reporting Standards (IFRS) the Earnings per Share of the current and all prior periods presented has been restated based on new number of shares i.e. 1,465,000,000 as a result of stock split explained below.

Stocksplit-Sub division of company's share capital

The BDard of DirectorS of the Company recommended a 5-for-1 stock split on February 20, 2025, which was subsequently approved sy the shareholders at an Extraordinary General Meehng (EOGM) held on March 18, 2025. Pursuant to the stock split, the face value of the Companys shares has been reduced mom PKR 10 per share tc PKR 2 per share. Conseqcertly, the total number of issued shares has increased mom 293,000,000 to 1,465,000,000.Trading in the post-split shareswilf commence at the Pakistan Stock Exchange (PSX) on April 28, 2025.

This strategic initiative is aimed at sharing the success achieved Over the years by your company with a wider investor

base, making the company's shares more accessible.

Growth & Expansion

Strategic Expansion in the Copper and Gold Mining

National Resources (PvL) Limited (NRL), a joint venture company (33.33% equity) has acquired two mining leases in Batuchistan on 13* October, 202a one with c0pper-g0td mineralization potential and the other with prospects f0r Lead-Zinc. Mobiization at both sites is underway, with early-stage explDration activities progressing, showing encouraging initial results.

clinker production capacity expansion of 182 million tons per annum and Cement production capacity

expansion of 0.65 million tons per annum in Samawah, lrao

The Company has completed construction auivities for the clinker prodMCtion Capacity expansion project of 1.82 million tons per annum in Samawah, Iraq, and kiln firing is expected shortly. In view of the growing cement demand in Central and Northern Iraq, the Company also initiated addItiof Df a 0.65 million tons pet annum cement grinding mill at the same site. An EPC contract has been executed, with completion targeted !n IH FY26.

6-A, fiIo}iana nance Ali i-fousi n3 Society: ,A. Aziz flash rna 7'abha Street, Kai zetai-/ 5**0. i'. ñ.K_ 111 -*CG-Soi F: 34oo4302 E: info‹*luck¿-cement.com

U ML: uma .luck*-cement.com

LUCKY CEMENT

Renewable Enery/ Initiatives of Lucky Cement

The company remains firmly committed to energy conservation and the integration of sustainable, green energy solutions. A state of the-art battery storage system is being installed at the Company's Karach! plant to improve the efficiency and optimal use of renewable energy generation. Currently, 55*a of our power generation capacity for self-conscmptior comes from renewable sources, including Solar, Wind and Waste Heat Recovery at both Karachi and Pezu p(ants.

The commissioning of a Wind Power Plant atthe Company's Karachi plant during 20 FY25 underscores our dedication to sustainabifiy and reducing reliance on imported fuels. These renewable energy investments nDt 0FIly promote environmental stewardship but also deliver cost efficiencies.

Your Company remains steadfast in its commitment to sustainable and inclusive growth. Our CSR initiatives are aligned with national rteveIopment priorities and sustainabitiy goals, reinforcing our rote in creating long-term vatue for stakeholders while contributing mearirgfulty to society. We focus our efforts or key pillars: quality education, women empowerment, healthcare, and environmental conservation.

Education /Scholarships:

Investing in education remains a cornerstone ofoursocialstrategy.Your Company continued the scholarship program in District Lakki Mawat and continues to offer merit-based scholarships at leading academic institutions across Pakistan. We collaborate with pfDrninent n0n-prDfit organizations such as the Shahid Afridi Foundation, Million Smiles Foundation, and The Citizens Foundation to expand access tD qUatity primary education in underserved legions.

Women's Emoowerment:

The Company is deeply committed to gender equity and the empowerment of women through education. In partnership with Z!ndagi Trust, we continue to support the transformation of government girls' SEhools in Karachi, fostering irCtUsive learning environments and expanding educational access for young girls from marginalized EDmmunities.

Health Initiatives:

Ensuring access to quality healthcare remains a priority. Through financial support to the Aziz Tabba Foundation, we E0ntribute to the provisiDn of advanced, affordable medical care to the public through renowned healthcare institutlDns delivering healthcare services to all segments of society.

Your Company gener0usly contributed to Al-Shifa Trust a reputable NGO in Pakistan dedicated to the prevention and control of blindness by delivering high-quality, sustainable eye care services that are accessible and affordable to atL irrespective of gender, race, color, or religion.

Environmental Conservation:

Environmental responsibility is embedded in our operatiDnal philosophy. We continue to implement eco-friendly initiatives such as tree plantation drives near our production facilities, aiming to reduce dust emissions and enhance environmental quality in surrounding communities.

Social Empowerment:

Your Company also extended generous suppor to Saylani Welfare and Chhipa Welfare; two well-regarded non-profit entities aEtively engaged in a broad range of humanitarian services across Pakistan. Their efforts in areas such as emergency response, food distribution, healthcare, and social welfare play a vital role in uplifting underserved

communities and promoting social well-being. Through this contribution, your Company reaffirms its commitment t0 sLpporting impactful initiatives that foster a more compassionate and resilient society.

Your Company also supported a well-established NGO dedicated to community welfare, helpiny expand its efforts in BfBBS SMch BS OdUEBtion, healthcare, and livelihood development. This reflects our ongoing commitment to inclusive art sustainable community up[iftmenL

Outlook

Pakistan's near-term economic outlook remains stable due to encouraging macroeconomic trends such as currency stability, lower inflation, and a current account surplus. with inflation on a d0wnward trajectory, there is a possibility that the SBP may consider further policy rate cuts. However, sustaining groMh ir value-added exports will depend on resolving supply chain bottlenecks and lowering energy prices. A reduction in energy costs will be key to supposing industrial competitiveness and facilitating a broader economiE tecovefy. While the implications of the newly proposed

U.S. tariffs are stilt unfolding that said, the ongoing decline in global commodity prices is expected to offset potehtial

challenges, Smiting the overall negative impact

The government's continued focus on fiscal discipline and structural reforms will be important in building investor confidence and maintaining macroeconomic stability. While challenges remain on the external Irony th9 OMtIDOk f0r the econ0my is cautiously optimistic, with potential for moderate growth.

Local Cement Operations

While the redvctior in interest rates ard easing inflation are expected to support medium-term demand, long-term growth will hinge on a sustained revivalir domestic economic activity dhd thereauivation of large-scale irfrastructcre projects.

Fore'en Cement operations

The commissioning of a new clinker prodaclion line, akng with the rpccming cement grinding plant, !s expected to enhance the Company's market share in Iraq. Additionally, surplus clinker from the faci[ity will be sold within the domestic Iraqi market.

With strong demand anticipated, the Company's foreign operations are well-positioned to capitalize on current and enhanced capacities in all three locations.

Polyester, Soda Ash. & Chemical

Despite the ongoing challenges, LCI is well-positioned to handle future Uncertainties due to its strong balance sheet and diversified portfolio which is aligned with Pakistan's core econ0my. The Company continues to pursue strategic groMh initiatives, optimizing capital allocation for bDth organic and inorganic expansion. The Company condoms regular strategic reviews to assess and develop proactive strategies to mitigate risks.

Looking ahead, the Company will c0ntinue to focus on identifying new revenue streams. optimizing operating costs, and mzxilizing shareholder returns to ensure a resilient and sustainable future.

Automobiles & Mobile Phones

The outlook for the automobile sector is gradually shifting positively compared to previous periods. Leveraging operational optimization and localization strategies, Lucky Motor Corporation (LMC) 1s positiDnerl to benefit by sa1eguarding profit margins and enhancing competitiveness in a recovering market.

Lucky Cemerrt L rna item

6-A. Nloharnmad .Al i Housing Society, A. Aziz Hasliñii Taob‹i blrcei, K*iracla i-7â330.

RBG