LCK/CS/2025-26/
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 8 Exchange Commission of Pakistan Islamabad
August 11, 2025
FINANCIAL RESULTS FOR THE yEAR ENDED JUNE 30, 2025 & DISCLOSURE OF MATERIAL INFORMATION
Dear Sir(s),
This is to inform that the Board of Directofs 0f Lucky Cement Limited (the "Company") in their meeting held on Friday, August 8, 2025 at 4:30 p.rn., at 6-A, Muhammad Ali Housing Society, A. AZiz Hashim Tabba Street, Karachi-75350 has recommended the following:
Cash Dividend
Bonus Issue
Right Issue
Any other entitlement
PKR 4/- per share
Nil Nil Nil
FINANCIAL RESULTS
The financial results of the Company consisting of (1) Consolidated and Standalone Statements of Financial Position;
(2) Statement of Comprehensive income; (3) Statement of Changes in Equity; (4) Statement of Cash Flows and (5)
Directors' Repoft are annexed.
MATERIAL INFORMATION
In accordance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the Rule Book of the PSX, the following decision made by the Board of Directors of the Company, in its meeting held on August 8, 2025, is being disclosed. In respect of the same, approval will be sought from the members in the upcoming Annual General Meeting of the Company, details of which are given below.
FURTHER INVESTMENT IN NATIONAL RESOURCES (PRIVATE) LIMITED
National Resources (Private) Limited ("NRL") is a joint ventufe company, in which the Company holds 33.330E/dquity, and has been established to carry out activities in the field of ex§l0fation and mining of metals (mainly gold and copper). As recently informed, NRL has made a significant copper & gold mineralisation discovery within its licensed area in Chagai, Baluchista
Luclcy Cement Limited
6-A, JvfoharnJnad Ali Housing Society, A. Aziz Hash i nâ Tabba Street, Kai aclii-7S350. U.A.N: 111-786 -SSS F: 34534302 E,' in foGl ucky- cement. corn
U ltL: iv3ov.1uc1‹y- cement.com
The Board of Difectors of the Company has recommended that the Company makes further equity investment, of an amount of up to PKR 1.2 billion, in its associated company, NRL, by subscribing to shares of NRL and acquisition of additional 250 ordinary shares of NRL ff0/TI Mr. Muhammad Ali Tabba, a related party of the Company. This further investment is intended to be utilized by NRL for conducting pre-feasibility studies including physical geology, drilling and mineral resoufce estimation.
The above investment shall be subject to obtaining necessary corporate and regulatory approvals, including the approval of the shareholders of the Company in accordance with Section 199 of the Companies Act, 2017, read with the Companies (Investment in Associated Companies or Associated Undeftakings) Regulations, 2017.
ANNUAL GENERAL MEETING AND BOOK CLOSURE
The 32'dAnnual General Meeting ("AGM") of the Company will be held on Friday, September 26, 2025 at IN:30 am at the registered office of the Company situated at factory premises in Pezu, District Lakki Marwat, Khyber Pakhtunkhwa.
The Share Transfer Books of the Company will remain closed from Friday, September 19, 2025 to Friday, September 26, 2025 (both days inclusive). Any transfers received at our Share Registrar, Mls. CDC Share Registfar See/ices Limit9d, situated at CDC House, 99-B, Block 'B', S.M.C.H.S. Main Shahrah-e-Faisal, Karachi-74400 till ctose of business on Thursday, September 18, 2025 will be treated in time lor the pufp0se of Annual General Meeting and dividend.
We will be transmitting the Annual Report of the Company for the year ended June 30, 2025 in electronic form through PUCARS within the specified time.
You may please inform the TREC holders of the Exchange accordingly.
Yours truly,
FOF LUCKY CEMENT LIMITED
ALI SH HAB
Genera Manager Legal 8 Company Secretary
Luclcy Cement Limited
6-A, Moha mmad Ali Housing Society, A. Aziz Hasllun Tabba Street, Karachi-75350. U.A.N: 111 -786-555 F: 3453d 302 F: iJ fo@lucky-cement.color
URL: writ.lucky-cement.com
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT JUNE 30, 2025
ASSETS
NON-CURRENT ASSETS
Note 2025
(PKR in '000)
2024
Property. plant and equipment | 5 | 305,340,294 | 298,571,892 | ||
Intangible assets | 6 | 8,112,396 | 6,625,546 | ||
Right-of-use assets | 7 | 368,211 | 182,457 | ||
313,820,901 | 305,379,895 | ||||
Long-term investments | 8 | 92,217,941 | 78,083,162 | ||
Long-term loans, advances and deposits | 9 | 1,683,076 | 1,065,591 | ||
Long term trade debts 12 | 1,085,658 | 502,317 | |||
408,807,576 | 385,030,965 | ||||
CURRENT ASSETS | |||||
Stores and spares | 10 | 29,585,458 | 24,834,721 | ||
Stock-in-trade | 11 | 61,689,309 | 68,049,161 | ||
Trade debts | 12 | 61,738,176 | 67.225.170 | ||
Loans and advances | 13 | 3,489,610 | 3,468,097 | ||
Deposit and prepayments | 14 | 7,047,694 | 6,296,487 | ||
Other receivables | 15 | 14,552,293 | 17,191,874 | ||
Tax refunds due from the Government | 16 | 538,812 | 538,812 | ||
Taxation receivable | 136,119 | 163,398 | |||
Short-term investments | 17 | 80,091,215 | 44.899,062 | ||
Cash and bank balances | 18 | 61,685,366 | 41.963,878 | ||
320,554,052 | 274,630,660 | ||||
TOTAL ASSETS | 729,361,628 | 659.661,625 | |||
EQUITY AND LABILITIES | |||||
SHARE CAPITAL AND RESERVES | |||||
Share apital | 19 | 2,930,000 | 2,930,000 | ||
Reserves | 20 | 344,37t,028 | 270,695.520 | ||
Attributable to the owners of the Holding Company | 347,301,028 | 273,625,520 | |||
Non-controlling interest | 40,740,410 | 37.005,928 | |||
Total equity | 388,041,438 | 310,631,448 | |||
8,623,090 | 9,861.994 |
t17,625.786 | 124.167,975 |
307,146 | 157,478 |
2,648,059 | 3,412,709 |
34,342,438 | 27,638,646 |
165,238.802 | |
163,546,519 | |
77,016,266 | |
80,989,867 | |
13,181,508 | 11,567.233 |
25,406,151 | 21,065,055 |
3,260,774 | 4,166,355 |
54,787,977 | 69,878,771 |
8t,649 | 38,547 |
65,745 | 59,148 |
177,773,671 | 183,791,375 |
NON-CURRENT LABILITIES
Long-term deposits and other liabilities 21
Long-term finance 22
Lease liabilities 7
Deferred Government grant 23
Deferred liabilities 24
CURRENT LIABILITIES
Trade and other payables 25
Current portion of long-term finance 22
Taxation - net Accrued return
Short-term borrowings 26
Current portion of lease liabilities 7
Unclaimed dividend
TOTAL EQUITY AND LIABILITIES CONTINGENCIES AND COMMITMENTS
341,320,190
729.361.628
27
349,030,177
659,661,625
ncial Officer
The annexed notes from 1 to 49 form an integral part of these consolidated financial statements
"ve icer
Chairman / tor Chief Exec
CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED JUNE 30, 2025
Note
2025
(PKR in '000)
2024
Gross Revenue | 29.1 | 559,204,434 | 489,363,447 | |||
Less: Sales tax and excise duty Rebates, incentive and commission | 94,691,953 14,882,534 | 64,681,767 13,686,497 | ||||
109,574,687 | 78,368,264 | |||||
Net Revenue | 449,629,947 | 410,995,183 | ||||
Cost of sales | 29.2 | (326,892,051) | (287,478,242) | |||
Gross profit | 122,737,896 | 123,516,941 | ||||
Distribution cost | 3t | (17,254,021) | (15,785,581) | |||
Administrative expenses | 32 | (7,559,413) | (7,652,978) | |||
Finance cost | 33 | (25,498,349) | (36,698,507) | |||
Other expenses | 34 | (4,728,985) | (3,674,585) | |||
Gain on bargain purchase | 2.6 | 292,555 | ||||
Other income | 35 | 20,320,672 | 16,185,370 | |||
88,310,355 | 75,890,710 | |||||
Share of proM - joint ventures and associates | 8.9 | 17,779,995 | 16,209,618 | |||
Profit before taxation and levy | 106,090,350 | 92,100,328 | ||||
Levy | 36 | [343,y84j | (1,798,556) | |||
Profit before taxation | 105,746,566 | 90,301,772 | ||||
Taxation | 36 | (21,246,189) | (17,g65,025) | |||
Profit after taxation | 72,336,747 | |||||
Attributable to: | ||||||
Owners of the Holding Company | 76,956,147 | 65,555,505 | ||||
Non-controlling interest | 7,S42,230 | 6,781,242 | ||||
B4,498,377 | 72,336,747 | |||||
(PKR)
(Restated)
Earnings per share - basic and diluted
37 52.53
44.10
The annexed notes from 1 to 49 form an integral part of these consolidated financial statements.
Chai ChiefEzecu e , Chie ancial Officer
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED JUNE 30, 2025
2025 2024
(PKR in '000)
Profit after taxation
Other comprehensive income / (loss) :
Items that will not be reclassified subsequently to pro7rt or loss Foreign exchange differences on translation of foreign operations
Remeasurement loss of post retirement benefit obl'9ation Deferred tax thereon
Gain on equity instrument at fair value through other comprehensive income
Deferred tax thereon
Total comprehensive income for the year Attributable to:
Owners of the Holding Company Non-controlling interest
84,498,377 72,336,747
1,689,986 | (1,728,162) (87,133) 14,828 (72,305) 9,576 (1,197) 8,379 |
(1,007,063) 387,780 | |
(619,283) | |
27,678 (3,460) | |
24,218 |
1,094,921 (1,792,088)
85,593,298 70,544,659
78,070,508 63,718,285
7,522,790 6,826,374
85,593,298 70,544,659
The annexed notes from 1 to 49 form an integral part of these consolidated financial statements.
irector
Chairman Chief Executive O cer Chie cia Officer
LUCKY CEMENT LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED JUNE 30, 2025
Foreign Capacity Long•term curronoy eypanelony oapItaT lnye¥unenM
Capital mdemptlon reserve
and paid up capital
-- Att but¥ble to the ownem of the Holding Company - -
Revenue rev efvt
Unappropd• Total """*'
•ated profit
Balance as al 1st July 2023
Trens8câons silly owners
Dlvldenda paid lo non-controlling interests
3,1T0,386 7,W3,42z
40,000,000
78.900.397 27•,385,63S
33,515,038
{3,070,884)
260.098.059
(3,070,884)
Cance||ation of own sharos pumhesed (note 37.2) {1a8,386)
Flnal cash dlvldend for yeer ended June 30, 2023
Buy•Back of Shares
488,386
(12,124,609)
(11,930.283)
(5,452,117) (5,é 52,117)
2,124,669)
(5,452,117)
(26d,600)
Profil sRer taxalion
Other comprehenalve Income / (loss) Total comprehensive Income for he year Balance ae st June 30, 2024
Finel caeh divldend for year onded June 30, 2024 D|vldends paid lo nonmritrolling Interest
Toys] coTnptetiensive income
Profi efte/ taxation
Olher comprehenalve income / (Io*s)
Tmelcomp=lenavemzome!=ih° °er
T. W.422
t,728, t62 (1,7PB,162)
304,760 20,468,4 6
1,800,08¥
40,000.OOO
W,00J,200
65,5SS,S0fi 6,55S,S06
109,058 1,837,220)
6 ,•146,447 03,716,28-5
138.000,7W 270,fi06,620
70,060,147 | 70,068,147 1,114,3e1 | 7,6d2,230 | 1.004,021 |
78,380,6£2
B,828,374
47,006,928
(3,081,3o8)
e3,ooo
7,822,780
72,038,747 (f,792,0B8) 70,Sd4,659
6,7BJ ,242
45,132
310,034 ,448
(4,396.000)
ez,ooo
86,603,208
Balance ae at Jlne 30, 2026 23,00t,R6
24 9.886,W0 W,47fi.028
rhe aijnexad notee from 1 lo 48 form en inIegra| parl of Iheee consolldaled financial statements
Ch aficlal OfRcer
LUCKY CEMENT LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Note 2025 2024
(PKR in '000)
Cash generated from operations | 38 | 133,694,930 | 86,151,570 |
Finance cost paid | (26,343,120) | (37,548,473) | |
Income tax paid | (11,768,602) | (7,749,823) |
Income from deposits and others Staff retirement benefits paid Long term deposits - net
Increase in long-term loans and advances
Increase in long-term deposits and prepayments
Net cash generated from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Fixed capital expenditure
Dividends and other income from equity accounted investments Dividends received on short term investments
Sale proceeds on disposal of intangibles Payment for acquisition of business
Sale proceeds on disposal of property, plant and equipment
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Long-term finance repaid
Dividend paid to owners of the Holding Company Dividend paid to non-controlling interest
Buy-back of shares of subsidiary from non-controlling shareholders Short term borrowings - net
Payment against lease liability
Long-term deposits and other liabilities Own shares purchased for cancellation
37.2
2,195,461 5,152,093
(418,970) (316,682)
(5,757)
(617,485) (233,771)
(241,806)
96,742,214 45,207,351
(20,981,028)
5,093,092
8,735,075
121
(5,000,000)
488,232
(24,812,205)
3,532,623
7,605,308
421,155
(11,664,508) (13,253,119)
(5,692,564)
(4,388,403)
(3,788,308)
(15,980,961)
(184,529)
(1,238,904)
(10,024,236)
(5,443,084)
(3,070,884)
(264,600)
6,739,686
(131,893)
(12,124,669)
Net cash used in from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Effect of foreign currency translation on cash and cash equivalents Cash and cash equivalents at the end of the year
(31,273,669) (24,050,180)
53,804,037 7,634,552
77,623,341 70,004,715
242,110 (15,926)
38.1 131,669,488 77,623,341
The annexed notes from 1 to 49 form an integral part of these consolidated financial statements.
Chairma Director
e Office
Chief Executi Chi fficer
UNCONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT JUNE 30, 2025
ASSETS
NON-CURRENT AS'SETS
Note
2025
(PKR in '000')
2024
Property. plant and equipment | 5 | 10740g588 | 107.258,973 | |||||
lntang ble assets | 6 | 46,229 | 69.39d | |||||
107455,817 | 107.328,S67 | |||||||
Long-term investments | 5K555,707 | 58.072,373 | ||||||
Long-term loans, advances and deposits | q 89,147 | 165,266 | ||||||
166,200,671 | 165,566,006 | |||||||
CURRENT ASSETS | ||||||||
Stores and spares | 19,895,130 | 14,591,821 | ||||||
Stock-in-trade | 10 | 4,774,5T7 | 8,505,426 | |||||
Trade debts | 11 | 6,353.194 | 6.932,479 | |||||
Loans and advances | 12 | 1,518,578 | 964,732 | |||||
Deposits and prepayments | 13 | 356,7T1 | 458.422 | |||||
Other receivables | 14 | 3.021,922 | 4.355,588 | |||||
Tax refunds due from tfie Government | ts | S38,812 | 538,82 | |||||
Snort-term investments | 16 | G1,298,O52 | 29,837,628 | |||||
Cash and bank balances | 17 | 2.790.323 | 2,567.176 | |||||
10O,547,359 | 68.452,084 | |||||||
TOTAL ASSETS | 266,748,030 | 234.018,090 | ||||||
EQUITY AND MABIMTIES | ||||||||
SHARE CAPITAL AND RESERVES | ||||||||
Share capial | 18 | 2.930,000 | 2,930.000 | |||||
Reserves | 172.980,400 | 144,831.27T | ||||||
175.910,400 | 147,761.277 | |||||||
NON-CURRENT LIABILITIES | ||||||||
Long-term deposits | 20 | 114,200 | ||||||
Long-term financing | 21 | 9,18$S22 | ||||||
Deferred Government grant | 22 | 1.382,651 | ||||||
Deferred liabilities | 23 | 21,514.B74 | ||||||
32.196,247 | ||||||||
CURRENT LIABILIWES | ||||||||
Trade and other payables | 24 | 27,300,919 | ||||||
Current maturity of long-term financing | 21 | 1,866,085 | ||||||
Short term borrowings Unclaimed dividend | 25 | 6,485,OOO ss,y4S | ||||||
Accrued martsup | 18$,$1$ | |||||||
Taxation - net | 22,738,018 | |||||||
s8,641,383 | ||||||||
90,837,630 | 86,256,813 | |||||||
TOTAL EQUITY AND LIABILITIES | 266748,O30 | 234.018,090 | ||||||
CONTINGENCIES AND COMMITMENTS | 26 | |||||||
255.087 12,760,637 1.766,055 17.286,561 32.068.340 |
30,006.625 2.099,147 6.485.000 59,148 M2,935 16,195,61g |
54,188.473 |
The annexed notes from 1 to 46 form an integral pad of these unconsoidated financial statements
ve
Chief man ial Officer
UNCONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED JUNE 30, 2025
Note 2025
(PKR in '000')
2024
Gross Revenue | 27 | 174,302,064 | 151,808,171 | ||
Less: Sales tax and federal excise duty Rebates, incentives and commission | 47,513,376 2,276,944 | 34,277.688 2,205,541 | |||
49,790,320 | 36,483,229 | ||||
Net Revenue | 124,511,744 | 115,324,942 | |||
Cost of sales | 28 | (81,827,060) | (76,520,370) | ||
Gross profit | 42,684,684 | 38,804,572 | |||
Distribution costs | 29 | (8,972,815) | (7,773,885) | ||
Administrative expenses | 30 | (2,427,249) | (2,160,682) | ||
Finance costs | 31 | (1,370,569) | (1,581,168) | ||
Other expenses | 32 | (3,056,913) | (2,476,636) | ||
Other income | 33 | 20,465,921 | 16.575,363 | ||
Profit before taxation and levy | 47,323,059 | 41,387,564 | |||
Levy | 34 | (329,600) | (953,051) | ||
Prorit before taxation | 46,993,459 | 40,434,513 | |||
Taxation | (13,901,297) | (12,327,974) | |||
Profit after taxation | 33,092,162 | 28,106,539 | |||
Restated | |||||
(PKR) | |||||
Earnings per share - basic and diluted
35 22.59
The annexed notes from 1 to 46 form an integral part of these unconsolidated financial statements
ec tive
Chairman / Dir tor Chief E Chie cial Officer
UNCONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED JUNE 30, 2025
Note
2025
(PKR in '000')
2024
Profit after taxation
Other comprehensive loss:
Items that will not be reclassified subsequently to profit or loss
33,092,162
28,106,539
(143,180)
8,378
9,575
(1,197)
(234,721)
91,541
(572,257)
24,218
27,678
(3,460)
(938,127)
365,870
Remeasurement loss of post retirement benefit obligation 23.1.2
Deferred tax thereon
Gain on equity instrument at fair value through other comprehensive income
Deferred tax thereon
Total comprehensive income for the year
(548,039)
32,544,123
(134,802)
27,971,737
The annexed notes from 1 to 46 form an integral part of these unconsolidated financial statements.
"ve
Chairman / Di tor Chief E Chief hcial Officer
LUCKY CEMENT LlhllTED
UNCONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR 7HE YEAR ENDED JUIgE 30, 2026
laaued aubaarlbed
° pald•up
Capltal reaervee
Revenue reeervoe
Total reserves
Total equlty
Share
Capital re•
purchase
Capacity
eipanelone
Long•term
Investments
Capltel redemptlon
General
tgggyg
UnapproprlQgg
ptq/|t
capltal
account
reserve
reserve
""^'
-••. •-• -• ---..•• --.•--••-•.- -••-••-.. •-•..•-•••--•••. • -- --• • --• --• ••--•.- NR | J•t '00 0 '............................................................................
Balance as at July 1, 2023 | 3,118,386 | 7,343,422 | 115,364 | 40,000,000 | 40,000,000 | 35,815,875 | 10,973,278 | 134,24 7,940 | 137,366,326 | |||
Proflt after taxation for the year | 28,106,539 | 28,106.530 | 20,106.539 | |||||||||
Other comprehenslve loss for the year | (134,802) | (134,802) | (134,802) | |||||||||
Total comprehenslve Income for the yeer Transectlon wlth owners CanrallatTon of own shares purchased | 16e30B | (12.124, 660) | 27,971,737 | 27,071,737 (11.836,283) | 27,971,737 (12,124,669) | |||||||
Final cash dlvldend for the year ended June 30, 2023 | (5,452,117) | (5,452,117) | (5,452,117) | |||||||||
Balance as al June 30, 2024 | 2,930000 | 7,343,422 | 303750 | 40,000,000 | 40,000,000 | 23,691206 | 33,492,899 | 144,831,277 | 147,761,277 | |||
Proflt after taxation for Ihe year | 33,092,182 | 33,092,182 | 33,09 2,182 | |||||||||
Other comprehanslve loss for the year | (6$BQ38 | |||||||||||
Tolal comprehenslve income for the year | 32,644,123 | 32, 644,123 | 32, 644,123 | |||||||||
Transaction with owners | ||||||||||||
Final cash dividend for the year ended June 30, 2024 | {4,396,000) | (4,386,000) | (4,386,000) | |||||||||
Balance as at June 30, 2025 | 2,930,000 | 7,343,422 | 303,760 | 40,0O0,OOO | 40,000,000 | 23,691,206 |
| 172,880,400 | 176,910,400 | |||
Th0 6Dnexed notes from I la 46 form an integral part of these unconsolidated finanrlal staTemenls.
c ut e
Ghalrman 1 Chief Ex
LUCKY CEMENT LIMITED
UNCONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 30, 2025
Nofe
2025
(PKR in '000')
2024
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Cash generated from operations | 36 | 33,808,781 | 30,937,432 | |
Taxes and levy paid | (4,520,421) | (2,234,906) | ||
Staff gratuity paid | 23.1.2 | (300,000) | (188,243) | |
Finance costs paid | (1,527,888) | (1,735,978) | ||
(Decrease) / increase in long-term deposits (liabilities) | (140,887) | 2,250 | ||
Income from deposits with Islamic banks | 276,863 | 763,406 | ||
(Increase) / decrease in long-term loans and advances | (23,881) | 36,780 | ||
Net cash generated from operating activities | 27,572,567 | 27,580,741 | ||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Addition to property, plant and equipment | (7,048,725) | (17,709,902) | ||
Addition to intangible assets | (37,744) | (26,925) | ||
Long term investment made | (483,334) | (477,888) | ||
Proceeds on disposal of property, plant and equipment | 5.3 | 127,174 | 155,199 | |
Proceeds on disposal of short term investment | 50,351 | |||
Dividends received from subsidiary companies | 12,088,517 | 10,450,559 | ||
Dividends received from associate | 611,365 | 183,510 | ||
Income received from short-term investments | 6,407,057 | 4,845,426 | ||
Net cash generated from / (used in) investing activities | 11,714,661 | (2,580,021) | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Long term financing repaid | 21.4 | (4,192,581) | (652,41¿) | |
Short term borrowings obtained / (repaid) - net | 1,000,000 | (400,000) | ||
Own shares purchased for cancellation | (12,124,669) | |||
Dividends paid | (4,388,403) | (5,443,084) | ||
Net cash used in financing activities | (7,580,984) | (18,620,168) | ||
Net increase in cash and cash equivalents | 31,706,244 | 6,380,552 | ||
Cash and cash equivalents at the beginning of the year | 32,382,131 | 26,001,579 | ||
Cash and cash equivalents at the end of the year | 36.2 | 64,088,375 | 32,382,131 | |
The annexed notes from 1 to 46 form an integral part of these unconsolidated financial statements
ec ive
Chairman / Di Chief Chief ial Officer
CEMENT
Report of the Directors for the year ended June 30, 2025The Directors are pleased to present this report, accompanied by the company's audited financial statements for the fiscal year ending June 30, 2025. The information provid ed below encompasses the unconsolidated and consolidated performance of the Company during this year.
This report has been prepared in accordance with section 227 of the Companies Act, 2017 and Listed Companies (Code of Corporate Governance) ltegulations, 2019 and will be submitted to the shareholders at the thirty second Annual General Meeting of the Coinpany to be held on September 26, 2025.
Overview of Economy and Consolidated Financial PerformanceOverview of Economy
Pakistan's economy maintained its fiscal consolidation during the outgoing year, supported by strengthened macroeconomic fundamentals, prudent fiscal management, and a notable improvement in the external sector. The current account recorded a surplus of USD 2.1 billion, a significant turnaround from the deficit of USD 2.1 billion posted last year. This improvement was primarily driven by robust worl‹ers' remittances, which rose to USD 38.3 billion, resilient export performance, and disciplined import management. The Pakistani Rupee (PKR) remained relatively stable against the US Dollar, aided by an improved current account position and an increase in the State Banlt of Pakistan's (SBP) foreign exchange reserves, which rose to USD 14.5 billion from USD 9.4 billion a year earlier.
The monetary policy stance also played a crucial role in reinforcing macroeconomic stability. During the year, SBP reduced the policy rate from 200/0 to 11%, reflecting easing inflatIonary pressures. This monetary easing contributed to restoring investor confidence and lowering the cost of borrowing for businesses, which supported economic activity. The moderation in interest rates, along with exchange rate stability and a buildup in foreign exchange reserves, have contributed to improved macroeconomic stability.
Furthermore, the continuation of IMF programs, including the Extended Fund Facility (EFF) and th e Resilience and Sustainability Facility (RSF) has strengthened policy credibility and supported investor sentiment. Pakistan's upgraded credit ratings during the year further validated its economic reform agenda. The government has committed to structural reforms focused on increasing tax revenue by broadening the tax base, energy pricing reforms, and privatization of state-owned enterprises, while also advancing climate action through dedicated initiatives. Collectively, these efforts will help lay a strong foundation for inclusive, resilient, and sustainable long-term economic growth.
In response to the evolving macroeconomic 1ondscape, the Company's teadership Is proactively executing strategies centered on cost optimization, effective risl‹ management, and innovation to drive operation a1 efficiency. We remain firmly committed to creating sustainable value for our stalteholders and are confident in the strength and resilience of our businesses to navigate current challenges and adapt seamlessly to economic challenges.
Lucky V?ena cm Lilii ited 1
6-A, Moljanj Jjjdd Ali I(otising 8ociet)', A. Aziz h*1sla1 m 'I'* b ba Street, Karachi -7S3S0.
U. A.N: 111-786 -5SS F: 34534302 fi: in to@1uclcy-cement.corn
Consolidated Financial Performance
On a consolidated basis, your Company reported gross revenue of PKR S59.2 billion, up 14.3% from PKR
489.4 billion in last year. This increase was driven mainly by improved perrormance from the Company and its subsidiary, Luclty Motor Corporation.
Furthermore, the Company's consolidated net profit was PKR 84.5 billion, of which PIER 7.S billion was attributable to non-controlling interests. The net profit attributable to shareholders of the Company translated into an EPS of PKR 52.53 for FY 2.02.5, compared to PKR 44.10 in last year, which is a 19.1% increase. The Company's net profit for FY 2.025 has shown improvement compared to last year, primarily driven by the increased profitability of Ioca! and foreign cement operations loll owed by Lucky Motor Corporation and Lucky Core 1ndustries Limited.
The consolidated financial performance of your Company for the year ended June 3.0, 2.025, as compared to last year is as follows:
Gross Revenue | 55.9,204 | 489,363 | 14.3% |
Net Revenue | 449,63.0 | 410,995 | 9.4% |
Gross P rofi t | 12.2,738 | 123,517 | (0.6%) |
GP as % of Net Revenue | 2.7.3% | 30.1% | (9.3%) |
Operati rig P ro fi t | 97,924 | 100,078 | (2.2%) |
EBITDA | 116,766 | 117,801 | (0,9%) |
Other I nconie | 20,6.1.3 | 16, 185 | 2.7.4% |
Net Pro fit | 84,498 | 72,337 | 16.8% |
NP (Atn Ibutabl e to o» ners of the holding company) | 7.6,9.5.6 | 65,556 | 1.7.4% |
Earhi ngs Per Share (PKR)* | 52.53 | 44.10 | 19.1% |
•EP5 Eye bcert t-estntel m reject the S-foi -1 sto ck sy lit (ex ylnineñ iii Petri il ln tie EPS sectio ti belot v)
G-z, NIollaillinacJ a ii Housing Societ}', A. Aziz Hash ink Tatiba Street, I(aracl41 75350. U.i.N: 11 I-786-SSS F: 34534302 E: infoG°lucly cement.rom
Six years' financial performance - Consolidated:
Net Revenue (PKR in Million)
207,1S9
t23,768
18,957
Gross Profit (PKR in Million)
47,S4S
2020 202J 2022 2023 2024 2025
Operating Pro fit (PKR in Millio n)
2020 2021 20 22 2023 202•t 202 S
EBITDA (PKR in Million)
7,087
32,014
43,669
77,29S
t00,078 97.924
40,918
2020 2021 2022 2023 2024 2025
Z020 0zl 2022 2023 202A ¥02S
Net Profit (PKR in Million)
EPS (PKR)
52.53
28, 229
36,423
2020 2021 20 22 2023 20 24 20 2S
Lucky Cement Limited
6-A, Mohammad Ali Housing Society A. Aziz Hashim Tabba Street, Tal-achi -75350. U.A.N: IU -78C-SSS F: 34534302 E: infoGlucky-cement,coin
URL: vmv.1ucky-cement.com
2020 2021 2022 2023 2024 2025
3
Local Cement Operations
During FY 2025, the Company posted a 15% increase in gross sales revenue compared to last year. This growth was primarily driven by a 53% year-over-year increase in export volumes, which offset a 7% decline in domestic sales. The drop in local sales stemmed from reduced demand due to record-high inflation in previous years eroding consumer purchasing power, lower PSDP spending, and increased taxes and levies. The overall cement industry also witnessed a 3% decline in domestic sales for similar reasons.
In addition, the Company's significant investments in renewable energy adding 74.3MW of solai a nd
28.8MW of wind power have contributed to supporting gross margins.
Foreign Cement OperationsThe Company's cement production facilities in Iraq and Congo, operating under joint venture agreements, continued to drive profitability with strengthened margins. Cement sales recorded consistent growth across both regions.
Polyester, Soda Ash and ChemicalsNet Turnover at PKR 120 billion for FY 2025 is almost in line with last year. Net Turnover for the Pharmaceuticals Business is 72% higher as compared to last year, conversely, a slowdown in demand across the Soda Ash, Animal Health, Chemicals & Agri Sciences and Polyester Businesses resulted in a decline of 16%, 10%, 2% and 1% respectively compared to last year.
Despite economic challenges, the Operating Result for FY 2025 stood at PKR 18 billion, reflecting a 4% increase over last year. The Pharmaceuticals and Animal Health Businesses d elivered strong performances, recording growth in their Operating Results by 99% and 23% respectively as compared to last year. The Polyester Business maintained operating performance in line with the last year, while the Soda Ash Business and Chemicals & Agri Sciences Business registered a decline of 16% and S% respectively in Operating Results year-on-year.
Profit After Tax (PAT) for FY 2025 stood at PIER 11.8 billion, representing a 5% increase over last year, primarily driven by improved Operating Results and a reduction in finance cost, attributable to a 9% decline in policy rate compared to last year. This performance was achieved despite an increase in the effective tax rate following the change in the export taxation regime, effective July 1, 2024.
During FY 202S, LCI announced a subdivision (stock split) of the face value of its ordinary shares from PKR 10 to PIER 2 per share, aimed at enhancing investor accessibility, improving stock liquidity, and broadening shareholder participation. The subdivision was approved by the members of LCI at the Extraordinary General Meeting held on June 20, 2025. Following this approval, the remaining regulatory and procedural formalities were completed on July 19, 2025. Following the subdivision of shares, LCI 's
Luch Cement Limitecl
c-A, Xlohaiaii had A li Ho usi ug Societ); A. Aziz Hasliirn Tabba Street, Ku rachi -753S0. U.A.N: 11 j -7g6-SQL F: 3 lS0 1302 I-: i ofoG3lucto,'- cenlen t.corn
URL:
4
RBG
subscribed and paid-up capital has been restructured, whereby the number of ordinary shares has increased from 92,359,0 S0 ordinary shares of PKR 10 each to 461,795,250 shares of PIER 2 each, with no change in the rights and privileges attached to the shares.
On September 6, 2024, LCI completed an asset acquisition with Pfizer Pal‹ista n Limited and other relevant Pfizer group entities. The transaction entailed the acquisition of a manufacturing facility, pharmaceutical products and associated trademarl‹s.
Power
Luclty Electric Power Company Ltd (LEPCL) owns and operates a 660 MW supercritical lignite coal-fired power plant located in Bin Qasim, Karachi. The plant achieved Commercial Operations Date on 21*' March 2022 and is designed to run on Thar Lignite Coal.
LEPCL has completed 6.4 million safe man-hours without a Lost Workday Injury (LWI) or significant incident since commencing operations in March 2022, reflecting continued foctis on safety and operational discipline.
Automobiles and Mobile Phones
The automobile sector demonstrated improved volumes during FY 2025 compared to last year due to stable pricing on the back of stable PKR to USD exchange rate, the State Banlt of Pal‹istan's decision to reduce the discount rate in recent monetary policy statements, decline in inflati on, and lower fuel prices. The sector observed an overall volume increase of around 48% compared to last year.
Due to the imposition of 18% GST effective 1st july 2024, smartphone imports registered a decline of 28% in volume and 24% in value terms in FY 2025 compared to last year.
Cement Industry and Company's Performance - UnconsolidatedDuring FY 2025, Pakistan's domestic cement sales volumes recorded a reduction of 3.0%, decreasing to
37.0 lTlIllion tons from 38.2 million tons last year. In contrast, exports demonstrated robust growth, surging by 29.5% to 9.2 million tons compared to 7.1 million tons last year. Consequently, the total industry sales volume improved by 2.1%, reaching 46.2 million tons in FY 2025 compared to 45.3 million tons last year. The decline in domestic volumes was primarily attributed to a slowdown in construction sector mainly mega infrastructure projects, as well as a substantial increase in Federal Excise Duty (FED), royalties, and other applicable taxes.
Against the backdrop of the industry's overall performance, your Company's results showed moderate improvement, with total sales volumes increasing by 8. 0 to 9.3 million tons in FY 202S, compared to
8.6 million tons last year. Local sales voluir es, however, declined by 7.4%, reducing to 5.9 million tons in FY 2025 from 6.4 million tons in FY 2024. Conversely, export volumes experienced a sharp growth of
Lucky Cernei4 t I,in1itctl 5
6- A, II ol animal /1 Ho usi ng Societ), A. Aziz Hasliina Tabba fi tJ'eet, Karachi 753S0.
U.A . N: 111-756 -SSS F: 34S34302 E: infoCaluc9 -cc»eJ t.cont
URI,:
53.30/o,rising to 3.4 million tons compared to 2.2 million tons last year. This significant growth in exports was driven by improved global demand as well as access to new export markets.
Cement Production & Sales Volume Performance
The production and sales statistics of your Company for FY 2025, compared to last year are as follows:
Clinker Prodiicti on | 7,876 | 8,158 | |||
Cement Production | 7,163 | 7,476 | qU | (4.2%) | |
Cement / Climber Sat es | 9,290 | 8,590 | i | 8.1% | |
A comparison of Pakistan's Cement Industry and your Company's dispatches for FY 2025, in comparison with last year, is presented below:
Lucky Cen e»t Limited
6-A, Mohammad dli Housing Society, A. Aziz Hash ink Tabba Street, Karachi-753'i0.
U.A. N: 11I-786-5SS F: 3'1S31302 E: iInfo@lucky-cement.corn URL: https://www.luck)'-cement.com
6
RBG
Cement Industry Local Sales Export Sales
Bagged
Loose
Clinker Total Exports
Grand Total Lucky Cement
Local Sales
Cement
Clinker
Export Sales
-Bagged
loose
Market Share
fiY 202S
FY2024
Change %
Clinker Total Exports Grand Total
Local Sales Export Sales
Bagged
Loose
Clinker Total Export Grand Total
S7,054
3,336
5,874
9,210
46,264
5,918
5,918
1,225
2,147
3,372
9,290
16.0%
36.7%
100.0%
36.5%
36.6%
20.1%
38,185
S,243
52
3,816
7,110
45,296
6,265
126
6,391
1,194
52
953
2,199
8,590
16.40/o
36.8%
100.0%
25.0%
30.9%
18.7%
(1,131]
93
(52)
2,058
2,099
968
(547)
(126)
(473)
31
(52)
1,194
1J72
699
(2.7%]
(0.3%)
46.0%
18.4%
7.5%
(3.0"fc}
2.9%
Z9.5%
2.1%
(5.5%)
(7.4%)
2.6%
125.2%
S3.3%
8.1%
Lucky Cement Limited 7
6-A, Moham mad AIi Ho using Society, A. Aziz Hasliiili Tabba Street, Karachi-753 S0. U.A.N: 11 I -786-555 F: 34534302 L: info@lucky-cement.coin
URL: https://www.lucky-cement.com
Financial Performance - Unconsolidated
The financial performance of your Company for the fiscal year ended June 30, 2025, as compared to last year is presented below:
Gross Revenue | 174,302 | 151,808 | 14.8% |
Net Revenue | 124,512 | 115,325 | 8.0% |
Cost of Sales | 81,827 | 76,520 | 6.9% |
Gross Profit | 42,685 | 38,805 | 10.0% |
GP as % of Net Revenue | 34.3% | 33.6% | 2.1% |
Operating Profi t | 31,28S | 28,870 | 8.4% |
EBITDA | 38,222 | 34,967 | 9.3% |
Other Income | 20,466 | 16,575 | 23.5% |
Net Profit | 33,092 | 28,107 | 17.7% |
Earnings Per Share (PKR)* | 22.59 | 18.91 | 19.5%o |
*ERS lias been i-esta ted to i eflect the 5-foi -1 stock split (explutried in detail in the EPS sectio n beIow)
Luch Cement Limited
6-A, Mohainiriad Ali Housing Society, A. Aziz H;sla inn Tabba Street, Karachi-75350. U.A.N: 111-786 -555 F: 34534302 £': iInfo@lucky-centen[.coJaa
| Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |
