PIONEER
CEMENT
February 11, 2026
The General Manager,
Pakistan Stock Exchange Limited, Stock Exchange Building,
Stock Exchange Road, Karachi.
Dear Sir,
HALF YEARLY FINANCIAL RESULTS FOR THE PERIOD ENDED
DECEMBER 31, 2025
We inform you that the Board of Directors of the Company in their meeting held at Lahore on February 11, 2026 recommended the following:
(i) (ii) | CASH DIVIDEND BONUS ISSUE | Nil. Nil. |
(iii | RIGHT SHARES | Nil |
(iv) | ANY OTHER ENTITLEMENT/ CORPORATE ACTION | Nil. |
(v) | ANY OTHER PRICE SENSITIVE INFORMATION | Nil. |
The financial results of the Company are attached.
The Half Yearly Report of the Company for the Period Ended December 31, 2025 will be transmit:ted through PUCARS separately within the stipulated time.
Yours sincerely,.
Encl: As above.
ALHA SAIF
Company Secretary
Pioneer Cement Limited
Head Office: d4 B/l, Gulberg-III. Lahore - Pakistan. Tel: (042) 37503570-72 Email: pioneer pioneercement.com Web: https://www.pioneercement.com Factory: P.O. Box No. 50. JaUharabad, Distrct Khushab. Tel: (0454) 724500. 724599 Email: foctory%pioneercement.com
This c a mmunic aIion is c o n fiden tiaI a n d intended onIy for the use o f I he individu al (sj to which it is ad dress ed. The inform ation containe d in it ma y beThe ubectofprofessonol privile ge or oroI ec I ed from discIosure for oIher reasons. If you a re noI the intende d ad dress, olease c ontoc I us immedia fe Y " shoudnotdiscoseor re produ ce a ny p a rt of this co mmu nication without spe c ifie c o nsent.
Pioneer Cement LimitedCondensed Interim Statement of Financial Position
As at December 31, 2025
ASSETS
Non Current Assets
Note
Un-Audited Audited
December 31, June 30,
2025 2025
(Rupees in thousand)
Property, plant and equipment | 5 | 73,304,243 | 74,097,303 |
Investment property | 676,133 | 676,133 | |
Long-term advances and deposits | 82,547 | 107,018 | |
74,082,923 | 74,880,454 | ||
Current Assets | |||
Stores, spares and loose tools | 6 | ||
Stock-in-trade | 7 | ||
Trade receivables | |||
Loans and advances | |||
Short-term prepayments | |||
Sales tax Recoverable - net | |||
Other receivables | |||
Short-term investments | 8 | ||
Cash and bank balances | |||
16,008,462 | 11,486,405 | ||
TOTAL ASSETS | 90,071,385 | 86,366,859 | |
EQUITY AND LIABILITIES | |||
Share Capital And Reserves |
4,554,002 | 4,366,181 |
2,264,948 | 1,487,404 |
1,988,891 | 1,786,302 |
191,925 | 124,948 |
15,631 | 10,018 |
21,525 | |
86,298 | 61,687 |
6,363,423 | 3,073,644 |
543,344 | 554,696 |
Authorized share capital
Issued, subscribed and paid up share capital Capital reserves
3 500_000
2,271,489
Share premium | 197,517 | 197,517 | |
Surplus on revaluation of property, plant and equipment - net of tax | 21,248,908 | 21,952,065 | |
21,446,425 | 22,149,582 | ||
Revenue reserve - unappropriated profit | 25,147,376 | 22,705,910 | |
48,865,280 | 47,126,981 | ||
LIABILITIES | |||
Non Current Liabilities | |||
Long-term financing | 2,958,334 | 3,500,000 | |
Long-term deposits | 41,946 | 41,956 | |
Deferred liabilities | 22,261,578 | 22,587,850 | |
25,261,858 | 26,129,806 | ||
Current Liabilities | |||
Trade and other payables | 10 | ||
Retention money payable | |||
Provision for taxation - net | |||
Contract liabilities | |||
Sales tax payable - net | |||
Accrued mark-up / profit on financing | 11 | ||
Short-term borrowings | 12 | ||
Current portion of long-term financing | 9 | ||
Unclaimed dividend | |||
15,944,237 | 13,110,072 | ||
41,206,095 | 39,239,878 | ||
Contingencies And Commitments | 13 | ||
TOTAL EQUITY AND LIABILITIES | 90,071,385 | 86,366,859 |
8,382,837 | 6,760,157 |
76,901 | 75,884 |
1,528,372 | 487,938 |
82,786 | 84,990 |
14,180 | |
89,789 | 222,137 |
4,588,472 | 4,554,150 |
1,083,333 | 833,333 |
97,567 | 91,483 |
The annexed notes from 1 to 21 form an integral part of these condensed interim financial statements.
Chief Financial Officer Chief Executive Officer Ghairman
Pioneer Cement Limited
Condensed Interim Statement of Profit or Loss (Un-Audited) For the six months and quarter ended December 31, 2025
Half Year Ended " Quarter Ended
December 31, | December 31, | December 31, | December 31, |
2025 | 2024 | 2025 | 2024 |
Note
(Rupees in thousand)
Revenue from contracts with customers - gross
29,115,208
25,643,093 15,998,900 13,797,338
Sales tax
Federal excise duty
Discount, rebate and commission
(5,122,826) | (4,365,509) | (2,864,165) | (2,346,622) |
(4,990,481) | (4,038,415) | (2,790,770) | (2,185,670) |
(323,712) | (447,867) | (82,397) | (364,350) |
(10,437,019) (8,851,791) (5,737,332) (4,896,642)
Revenue from contracts with customer - net | 18,678,189 | 16,791,302 | 10,261,568 | 8,900.696 | |
Cost of sales | 14 | (13,134,84z) | (10,680,112) | (7,224,952) | (5,190,346) |
Gross profit | 5,543,347 | 6,111,190 | 3,036,616 | 3,710.350 | |
Distribution cost | (80,363) | (77,352) | (39,896) | (36.549) | |
Administrative expenses | (237,484) | (250,540) | (97,758) | (113,475) | |
Other expenses | (265,060) | (470,509) | (150,040) | (364,937) | |
(582,907) (798,401) (287,694) (514,961) | |||||
Operating profit | 4,960,440 | 5,312,789 | 2,748,922 | 3,195,389 | |
Other income | 259,200 | 77,976 | 167,731 | 25,398 | |
Remeasurement gain on assets held at fair value - net | 7,553 | 7,553 | |||
Finance costs | (392,857) | (840,295) | (178,571) | (347,137) | |
Profit before taxation | (133,657) 4,826,783 | (754,766) 4,558,023 | (10,840) 2,738,08Z | (314,186) 2,881,203 | |
Taxation | 15 | (1,952,729) | (1,785,115) | (1,138,136) | (1,131,155) |
Profit after tax | 2,874,054 | 2,772,908 | 1,599,946 | 1,750,048 | |
Earnings per share - basic and diluted (Rs.) | 12.65 | _ 12.21 | 7.70 | ||
The annexed notes from 1 to 21 form an integral part of these condensed interim financial statements.
Chief Financial Officer Chief Executive Officer Chairman
Pioneer Cement Limited
Condensed Interim Statement of Comprehensive Income (Un-Audited)
For the six months and quarter ended December 31, 2025
Half Year Ended Quarter Ended
December 31, | December 31, | Desember 31, | December 31, |
2025 | 2024 | 2025 | 2024 |
(Rupees in thousand)
Profit after taxation
Items that may be reclassified to statement of profit or loss
Items that will not be reclassified to statement of profit or loss subsequently
Other comprehensive income for the period Total comprehensive income for the period
2,874,0542,874,054
2,772,908 1,599,946 1,750,048
2,772,908 99 9 6 1,750,048
The annexed notes from 1 to 21 form an integral part of these condensed interim financial statements.
Chief Financial Officer Chief Executive Officer Chairman
Pioneer Cement Limited
Condensed Interim Statement of Changes in Equity For the six months and quarter ended December 31, 2025
Reserves
Capital Revenue
Issued, subscribed and Share | Surplus on revaluation of | Accumulated SUb-Total Total equity |
paid-up capital premium | property, plant and equipment | profits |
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - (Rupees in thousand) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Balance as at June 30, 2024 (Audited)
Profit after taxation for the period
Other comprehensive income for the period
2,271,489
197,517
23,358,385
19,844,450
43,400,352 45,671,841
2,772,908
2,772,908
2,772,908
Revaluation surplus realized through incremental depreciation - net of tax
2,772,908
2,772,908
2,772,908
Final Cash Dividend at Rs. 10 per share for the year ended June 30, 2024
(703,157)
703,157 -
(2,271,489) (2,271,489) (2,271,489)
Balance as at December 31, 2024 (Un-Audited) 2,271,489 197,517 22,655,228 21,049,026 3 901 771 46,173,260
Balance as at June 30, 2025 (Audited)
Profit after taxation for the period
Oher comprehensive income for the period
2,271,489
197,51721,952,065 22,705,910
44,855,492 47,126,981
Revaluation surplus realized through incremental depreciation - net of tax
(703,157) 2,874,054 2,874,0542,874,054
2,874,054703,157
2,874,0542,874,054
Final cash dividend at Rs. 5 per share for the year ended 30 June 2025 (1,135,745) (1,135,745) (1,135,745)
Balance as at December 31, 2025 (Un-Audited)
2,271,489
197,517 21,248,90825,147,376 46,593,801
48,865,290
The annexed notes from 1 to 21 form an integral part of these condensed interim financial statements.
Chief Financia OfficerChief Executive Officer Chairman
Pioneer Cement Limited
Condensed Interim Statement of Cash Flows (Un-Audited)
For the six months and quarter ended December 31, 2025
7,029,178 | 7,925,710 |
(1,274,069) | (1,373,953) |
(480) | (3,626) |
(9,316) | (11,593) |
24,461 | (378) |
(718,918) | (171,627) |
(3,150,000) | (4,976,828) 935 |
18 |
Note
December 31, December 31,
2025 2024
(Rupees in thousand)
Cash Flows From Operating Activities | |||
Cash generated from operations | 16 | ||
Income tax paid - net | |||
Employees' compensated absences paid | |||
Gratuity paid | |||
Decrease / (Increase) in long-term deposits | |||
Net cash generated from operating activities | A | 5,769,774 | 6,536,160 |
Cash Flows From Investinq Activities | |||
Capital expenditure incurred | |||
Short term investments Proceed from Redemption of Short Term Investment | |||
Proceeds from disposal of property, plant and equipment | |||
Net cash used in investing activities | B | (3,868,918) | (5,147,502) |
Cash Flows From Financing Activities | |||
Proceeds from long-term financing | |||
Repayment of long-term financing | |||
Increase/(Decrease) in short-term borrowings | |||
Finance cost paid | |||
Dividend paid | |||
Net cash used in financing activities | (1,912,209) | (1,283,631) | |
Net increase in cash and cash equivalents | A+B+C | (11,353) | 105,027 |
2,000,000 | |
(291,666) | (5,529,623) |
34,322 | 5,776,997 |
(525,205) | (1,269,519) |
(1,129,660) | (2,261,486) |
Cash and cash equivalents - at the beginning of the period
554,696
414,631
Cash and cash equivalents - at the end of the period 543,344 519,658
The annexed notes from 1 to 21 form an integral part of these condensed interim financial statements.
Chief Financial Officer Chief Executive Officer Chairman