Lucky Cement Limited’s (LUCK): 2QFY25 EPS clocked-in at PKR 73.17, up 22/20% YoY/QoQ - By Foundation Research

Jan 31 2025


Foundation Securities


  • Lucky Cement Limited’s (LUCK PA) consolidated profitability clocked-in at PKR 21.4Bn (EPS PKR 73.17, up 22/20% YoY/QoQ) in 2QFY25 compared to a profit of PKR 11.8Bn (EPS PKR 40.3) in 2QFY24. This brings 1HFY25 profitability to PKR 39.3Bn (EPS of PKR 134.6, up 11% YoY) against profit of PKR 35.3Bn in 1HFY24.
  • Standalone earnings were recorded at PKR 24.84/sh (up 7/11% YoY/QoQ) in 2QFY25, resulting in 1HFY25 earnings of PKR 47.24/sh, undergoing a mild increase of 1% YoY.
  • LUCK’s profitability on a standalone basis jumped 7% YoY in 2QFY25, this surge is accredited to volumetric growth of 24% YoY in overall dispatches. To highlight, LUCK exhibited an uptick in domestic dispatches (2/17% YoY/QoQ) and surge in export dispatches (86/26% YoY/QoQ). Hefty gross margins of 35.26% could be because of higher than expected retention prices (Punjab royalty disparity) along with efficient procurement of coal. The company recorded other income of PKR 3.5Bn (up 32% YoY) which further enhanced the profitability. In our view, the strong other income could be due to high dividend income and surge in income from cash & short term investments (PKR 39.1Bn as of 1QFY25, PKR 32.4Bn in 4QFY24).
Lucky Cement Company Limited (LUCK): Cost efficiencies to support margins - By JS Research

Feb 24 2025


JS Global Capital


  • Lucky Cement Company Limited (LUCK) conducted its Corporate Briefing to discuss 2QFY25 results and outlook. On a standalone basis, the company reported an EPS of Rs24.8 for 2QFY25, up 7% YoY, driven by higher dispatches YoY (+24%). Meanwhile, on a consolidated basis, the company posted EPS of Rs73.2 in 2QFY25, up 22% YoY.
  • Management is confident that LUCK is well-positioned to withstand declining cement MRPs in the North, due to its cost efficiency measures such as investments in renewable energy capacity (103.1 MW). Additionally, its fuel cost/ton remains among the lowest in the industry following its Dec-2022 expansion.
  • The recently announced stock split is proposed to improve liquidity and increase accessibility for retail investors, avoiding a bonus issue as it would have resulted in significant taxes for investors.
Lucky Cement Limited (LUCK): 1HFY25 Corporate Briefing Takeaways - By IIS Research

Feb 21 2025


Ismail Iqbal Securities


  • Lucky Cement Limited (LUCK) held its corporate briefing today to discuss the financial results of 1HFY25 and future outlook of the company. Key highlights of the briefing are follows:
  • Local dispatches of the industry declined by 10.4% YoY, reaching 18.1mn tons in 1HFY25 due to subdued demand, while exports saw a significant growth of 31.7% YoY. Local demand showed some improvement in 2QFY25, reflecting an increase of 22.8% QoQ. Looking ahead, the company expects demand to recover from this negative double-digit growth, hinging on factors such as decrease in interest rates. However, Ramazan and Eid factor will likely affect the sales in 2HFY25.
  • For LUCK, total dispatches increased by 8.7% YoY in 1HFY25, primarily driven by rise in exports, as the company continues to explore different export destinations. However, local dispatches declined by 14%, in line with the industry trend.
Lucky Cement Limited (LUCK): Analyst briefing takeaways - By Insight Research

Feb 21 2025


Insight Securities


  • Lucky Cement Limited has conducted its analyst briefing to discuss its financial result and future outlook. We have summarized following key takeaways from the briefing.
  • In 1HFY25, LUCK’s local retention price stood at ~PKR16,000/ton. While export retention price for Afghanistan stood at ~PKR9,000/ton. For sea borne, retention price for clinker and cement export stood at US$31/ton and US$41/ton, respectively.
  • Company is fulfilling 55% of its total power requirement from renewable energy. Plant wise renewable power mix stands at 42%/56% for North and South.
Lucky Cement (LUCK):2QFY25 Corporate Briefing Key Takeaways - By Topline Research

Feb 21 2025


Topline Securities


  • Lucky Cement (LUCK) conducted 2QFY25 analyst briefing today to discuss business performance and future outlook.
  • Commenting on Stock Split, LUCK management stated that purpose of split was to increase liquidity of the stock and make it more attractive for participants. Global indices that track Pakistani stocks also have liquidity criteria.
  • Wind power plant of 28.8MW came online in 2QFY25. After completion of this project, the total renewables capacity is close to 100MW for two local cement plants of the company. Wind, Solar and WHR are now fulfilling approximately 55% of power requirements on average
Lucky Cement Ltd. (LUCK): LUCK board approves 5-for-1 split - By AKD Research

Feb 21 2025


AKD Securities


  • Lucky Cement Ltd. (LUCK), in its Board of Directors meeting held yesterday, approved a share split in the ratio of 5:1, reducing the face value from PkR10/sh to PkR2/sh. Consequently, shareholders will receive 5 shares for every 1 share held. The date of determination which will be announced after the Extraordinary General Meeting (EoGM) on March 18, 2025.
  • The share split will increase the number of outstanding shares from 293mn to 1,465mn without triggering tax implications, unlike the bonus issue. The said development is expected to enhance the scrip’s liquidity and broaden investor participation.
  • Outlook: We maintain our ‘BUY’ stance on LUCK with a Dec’25 target price of PkR1,965/sh (PKR393/sh @1,465mn sh). Our view is supported by: i) improving market share given recent expansion, ii) higher gross margins driven by optimal coal and power mix, and iii) expected recovery in portfolio businesses alongside broader economic improvement.
Lucky Cement (LUCK): LUCK announced stock split, increased share liquidity and better price discovery likely - By Topline Research

Feb 21 2025


Topline Securities


  • In a notice to the stock exchange today, Feb 21 2025, LUCK announced the board recommendation for sub-division of shares of the company.
  • The above-mentioned Stock Split will be in the ratio of 5 shares for every 1 share held.
  • After the stock split, the paid-up capital of the company will be divided into 1,465mn shares of Rs2 each form current 293mn shares of Rs10 each.
Lucky Core Industries (LCI): FY24 Corporate Briefing Key Takeaways - By Topline Research

Feb 13 2025


Topline Securities


  • Lucky Core Industries (LCI) held its corporate briefing today to discuss 1HFY25 financial result and future outlook.
  • LCI’s operating performance improved due to Pfizer portfolio integration and better margins in Polyester & Pharmaceuticals. Lower finance costs followed a policy rate reduction, while Soda Ash, Chemicals & Agri Sciences, and Animal Health faced demand challenges.
  • LCI saw a 26% YoY rise in 1HFY25 due to short-term investments, scrap sales, and gain on the sale of assets sold, but majorly a Rs550mn one-time impact due to a change in loan discounting policy per IFRS guidelines.
Lucky Core Industries Limited (LCI) : 2HFY25 Analyst briefing takeaways - By Insight Research

Feb 13 2025


Insight Securities


  • Lucky Core Industries Limited has conducted its 2HFY25 analyst briefing to discuss its financial result and future outlook. We have summarized following key takeaways from the briefing.
  • In 1HFY25, LCI revenue from pharma business was ~PKR10.4bn vs. PKR5.8bn in SPLY. The increase is attributable to deregulation of nonessential and integration of Pfizer portfolio. Additionally, the company stated that PKR3.2bn of the total PKR10.4bn revenue came from the Pfizer portfolio. The Pfizer portfolio is expected to contribute approximately PKR8-9bn on an annualized basis in FY25.
  • Regarding its pharmaceutical business, the company stated that 65% of its current portfolio consists of nonessential products. In the recently acquired Pfizer portfolio, six out of seven brands fall under the nonessential category
Lucky Cement Limited’s (LUCK): 2QFY25 EPS clocked-in at PKR 73.17, up 22/20% YoY/QoQ - By Foundation Research

Jan 31 2025


Foundation Securities


  • Lucky Cement Limited’s (LUCK PA) consolidated profitability clocked-in at PKR 21.4Bn (EPS PKR 73.17, up 22/20% YoY/QoQ) in 2QFY25 compared to a profit of PKR 11.8Bn (EPS PKR 40.3) in 2QFY24. This brings 1HFY25 profitability to PKR 39.3Bn (EPS of PKR 134.6, up 11% YoY) against profit of PKR 35.3Bn in 1HFY24.
  • Standalone earnings were recorded at PKR 24.84/sh (up 7/11% YoY/QoQ) in 2QFY25, resulting in 1HFY25 earnings of PKR 47.24/sh, undergoing a mild increase of 1% YoY.
  • LUCK’s profitability on a standalone basis jumped 7% YoY in 2QFY25, this surge is accredited to volumetric growth of 24% YoY in overall dispatches. To highlight, LUCK exhibited an uptick in domestic dispatches (2/17% YoY/QoQ) and surge in export dispatches (86/26% YoY/QoQ). Hefty gross margins of 35.26% could be because of higher than expected retention prices (Punjab royalty disparity) along with efficient procurement of coal. The company recorded other income of PKR 3.5Bn (up 32% YoY) which further enhanced the profitability. In our view, the strong other income could be due to high dividend income and surge in income from cash & short term investments (PKR 39.1Bn as of 1QFY25, PKR 32.4Bn in 4QFY24).
Lucky Cement Limited (LUCK): 2QFY25 Review Earnings surge on elevated gross margins & other income - By AKD Research

Jan 30 2025


AKD Securities


  • Lucky Cement Ltd. (LUCK) announced its 2QFY25 financial results, reporting standalone earnings of PkR7.3bn (EPS: PkR24.8), up 7%YoY from PkR6.8bn (EPS: PkR23.1) in SPLY. Earnings were above our expectations due to higher-than-expected gross margins and other income. On a consolidated basis, profitability improved to PkR21.4bn (EPS: PkR73.2), up 22%YoY.
  • Revenue increased by 13%YoY to PkR34.5bn in 2QFY25 from PkR30.5bn in SPLY. The said topline growth is primarily attributed to 83%/2%YoY rise in export and local dispatches, respectively.
  • Gross margins slightly contracted to 35.3% from 36.0% in SPLY, mainly due to a higher proportion of low-margin exports in the total sales mix. However, gross margins exceeded our expectations, possibly due to lower-than-anticipated fuel costs.
Pakistan Economy: Feb’25 LSMI down 5.9%MoM/down 3.5%YoY - By Taurus Research

Apr 16 2025


Taurus Securities


  • Large Scale Manufacturing Index (LSMI) down 5.9%MoM in Feb’25, due to decline from key sectors i.e. Furniture (-56%), Machinery & Equipment (-34%) and Chemical Products (-19%). Whereas, top contributors were Other Transport Equipment (38%), Automobiles (31%), Coke & Petroleum Products (23%) and Tobacco (18%), respectively. 8MFY25 LSMI was down 1.9%YoY.
  • Textile production declined by ~0.33%YoY in Feb’25 attributable to decline in production of jute goods, woolen & worsted cloth and woolen blankets by 36.65%YoY, 3.66%YoY and 94.76%YoY, respectively— mainly due to the lower domestic and international demand driven by a seasonal shift that reduced the overall requirement of these products. Whereas, on a monthly basis it significantly declined by ~3.24%MoM, mainly due to the decline in production of jute goods, terry & towels, woolen & carpet yarn and woolen blankets by 19.56%MoM, 7.34%MoM, 4.42%MoM and 94.21%MoM, respectively
  • Automobile production down ~5%MoM in Feb’25. Wherein, Jeeps & cars production declined by 10%MoM. Similarly, LCVs production down ~13%MoM, respectively. On a YoY basis, production of LCVs, Jeeps & Cars, Trucks and Buses went up by ~23%, 26%, 1.8x and 48% on the back of controlled manufacturing costs, stable tariffs, eased import restrictions on CKD units and recovering demand due to improving macros.
Lotte Chemical Pakistan Limited (LOTCHEM): Earnings Hold Steady as PTA Margins Remain Underwhelming - By IIS Research

Apr 16 2025


Ismail Iqbal Securities


  • We expect LOTCHEM to report a PAT of PKR 779 million (EPS: PKR 0.51) for 1QCY25, compared to LPS 0.01 in last quarter. This improvement comes as operations normalize following a one-month plant turnaround last quarter. PTA sales volumes are also anticipated to recover to typical levels. However, PTAPX margins have averaged USD 100/ton this quarter, lower than the USD 122/ton in the past six years and the long term average of USD 110/ton, largely due to global dynamics and subdued international demand.
  • Additionally, this quarter is affected by the recent gas price hike. Where, the gas price for captive power plants has increased to Rs 3,500 per MMBtu, effective February 1, 2025. While this increase poses some pressure, it's worth noting that LOTCHEM’s cost structure and margins are largely driven by international PTA-PX spreads. Notably, in CY24, only around 7% of COGS was from oil, gas, and electricity expenses. Furthermore, the company is in the process of being acquired, as AsiaPak Investments Limited and Montage Oil DMCC entered into a share purchase agreement to acquire a 75.01% stake in LOTCHEM.
Bank Al-Falah Limited (BAFL): 1QCY25 EPS to clock-in at PKR 3.3; PAT down 47%YoY/up 13%QoQ - By Taurus Research

Apr 16 2025


Taurus Securities


  • Board Meeting: Thursday, April 17, 2025
  • 1QCY25 EPS: PKR 3.3. 1QCY25 PAT down 47%YoY. BAFL is also expected to announce a cash dividend of PKR 2.0/sh.
  • Net Interest Income (NII): We anticipate net interest income to post a drop of 9%YoY/11%QoQ mainly on account of falling yields on investments and re-pricing of the loan book; partially offset by a lower cost of funds due to the rate cut in Jan’25 and the impact of revised MDR regime coming into effect Jan’25 onwards
Commercial Bank: Banking Sector’s Dividends Payouts to Persist Despite Earnings Attrition in 1QCY25 - By Pearl Research

Apr 16 2025


Pearl Securities


  • We preview 1QCY25 earnings result for commercial banks within our coverage. We expect earnings of the Pearl banking universe to witness erosion of 3.6% QoQ due to NIM compression coupled with tapering off of growth in non-core income.
  • Notably, we expect the lagged impact of asset repricing and declining asset yields amid aggressive monetary easing measures to serve as a headwind for interest income, which nonetheless should partly be counteracted by volumetric balance sheet growth.
  • Additionally, we anticipate the offsetting decline in cost of deposit to remain relatively muted compared to the previous quarter despite strategic shift into low-cost deposits by the sector, thereby resulting in core income witnessing a contraction of ~6% QoQ, according to our estimates
Technical Outlook: KSE-100; Consolidation likely above key averages - By JS Research

Apr 16 2025


JS Global Capital


  • The KSE-100 index extended the gain to close at 116,776, up 385 points DoD. Volumes stood at 479mn shares compared to 485mn shares traded in the previous session. The index is expected to revisit yesterday’s high of 117,362 where a break above targeting 118,718 level. However, any downside will find support at the 30-DMA which is currently at 115,631. The RSI and the Stochastic Oscillator have moved up, supporting a positive view. We recommend investors to ‘Buy on dips’, with risk defined below the 30-DMA. The support and resistance levels are at 116,493 and 117,210 levels, respectively.
Engro Powergen Qadirpur Limited (EPQL): 1QCY25 EPS arrive at PKR 1.19, up 1.5xQoQ - By Taurus Research

Apr 15 2025


Taurus Securities


  • 1QCY25 EPS: PKR 1.19; DPS: PKR 7.5.
  • Revenue increased 9%QoQ to PKR 3.1Bn, attributed to improved dispatches amid seasonal demand recovery. However, YoY growth remained flat due to the impact of revised PPA terms, which converted the plant's structure to a 'take-and-pay' regime, limiting guaranteed capacity payments.
  • Finance income stood at PKR 26Mn versus PKR 238Mn in 1QCY24 (SPLY), reflecting the absence of late payment surcharge (LPS) which previously contributed significantly. The decline was anticipated after the company received PKR 8.04Bn in overdue receivables under the revised PPA settlements.
Commercial Banks: 1QCY25 Result Preview: Payouts to remain intact - By AKD Research

Apr 15 2025


AKD Securities


  • AKD Banking Universe is set to announce its 1QCY25E results, where we expect profitability to decline by 12%QoQ, as contraction in NIMs and a drop in nonmarkup income are expected to outweigh the impact of lower operating expenses and reduced taxation.
  • We anticipate our banking universe to maintain dividends in the first quarter, supported by resilient capitalization amid monetary easing, recovery in macro economic variables and removal of mandated ADR based taxation during the previous quarter.
  • Profitability to take a hit from declining yields: AKD Banking Universe is set to announce its 1QCY25E results, where we expect profitability to decline by 12%QoQ to PkR75.1bn, as contraction in NIMs and a drop in non-markup income are expected to outweigh the impact of lower operating expenses and reduced taxation.
United Bank Limited (UBL): 1QCY25 EPS to clock-in at PKR 18.4; PAT up 43%YoY/down 12%QoQ - By Taurus Research

Apr 15 2025


Taurus Securities


  • Board Meeting: Wednesday, April 16, 2025
  • 1QCY25 EPS: PKR 18.4. 1QCY25 PAT up 43%YoY. UBL is also expected to announce an interim cash dividend of PKR 12/sh.
  • Net Interest Income (NII): Expected to go up 2xYoY/9%QoQ, driven by robust growth in current accounts and a lower cost of funds as changes to the MDR regime go into effect, along with a drop in leverage on a sequential basis – offsetting the pressure on yields, specially on the Bank’s investment portfolio.
Technical Outlook: KSE-100: Closed above 30-DMA - By JS Research

Apr 15 2025


JS Global Capital


  • The KSE-100 index posted a gain of 1,537 points to close at 116,390. Volumes stood at 485mn shares compared to 459mn shares traded in the previous session. The index has closed above the 30-DMA which will now provide support at 115,535, followed by 114,357 (50-DMA). However, any upside will face resistance in the range of 116,500-117,300 where a break above targeting 118,718 level. The RSI and the Stochastic Oscillator have improved, supporting a positive view. We recommend investors to ‘Buy on dips’, keeping stoploss below the 30-DMA. The support and resistance levels are at 115,593 and 116,840 levels, respectively.
Morning News: IMF concludes Pak visit, set to propose transparency reforms - By Vector Research

Apr 15 2025


Vector Securities


  • The International Monetary Fund (IMF) has identified key shortcomings in Pakistan's governance, including the politicisation of the civil service, weak organisational accountability, and excessive focus on short-term goals. These issues, the IMF noted, contribute to broader governance weaknesses and increase vulnerability to corruption. The report which is expected to be made public by August this year will give recommendations for ensuring greater transparency and improving the public sector delivery by minimising the chances of corruption and through merit-based decisions.
  • With the halt of USAID operations by President Donald Trump, Pakistan’s total portfolio of $445 million has been affected over five years, surfacing a gap of $40 million for the current fiscal year for on-budget development projects. “However, in a positive development on the external front, Fitch Ratings might upgrade Pakistan’s rating within a few days”, top official sources confirmed while talking to The News on Monday. The Fitch might upgrade from a notch of CCC+ to BBB keeping in view the reduced risk of default.
  • Members of the delegation of US congressmen visiting Pakistan have described their trip to the South Asian country as "extremely productive" and “significant for the future", which is good news for the mineral-rich country. The delegation also attended the Pakistan Mineral Investment Forum 25 (PMIF25) last week in Islamabad.
Lucky Cement Limited’s (LUCK): 2QFY25 EPS clocked-in at PKR 73.17, up 22/20% YoY/QoQ - By Foundation Research

Jan 31 2025


Foundation Securities


  • Lucky Cement Limited’s (LUCK PA) consolidated profitability clocked-in at PKR 21.4Bn (EPS PKR 73.17, up 22/20% YoY/QoQ) in 2QFY25 compared to a profit of PKR 11.8Bn (EPS PKR 40.3) in 2QFY24. This brings 1HFY25 profitability to PKR 39.3Bn (EPS of PKR 134.6, up 11% YoY) against profit of PKR 35.3Bn in 1HFY24.
  • Standalone earnings were recorded at PKR 24.84/sh (up 7/11% YoY/QoQ) in 2QFY25, resulting in 1HFY25 earnings of PKR 47.24/sh, undergoing a mild increase of 1% YoY.
  • LUCK’s profitability on a standalone basis jumped 7% YoY in 2QFY25, this surge is accredited to volumetric growth of 24% YoY in overall dispatches. To highlight, LUCK exhibited an uptick in domestic dispatches (2/17% YoY/QoQ) and surge in export dispatches (86/26% YoY/QoQ). Hefty gross margins of 35.26% could be because of higher than expected retention prices (Punjab royalty disparity) along with efficient procurement of coal. The company recorded other income of PKR 3.5Bn (up 32% YoY) which further enhanced the profitability. In our view, the strong other income could be due to high dividend income and surge in income from cash & short term investments (PKR 39.1Bn as of 1QFY25, PKR 32.4Bn in 4QFY24).
Current:
Open:
Volume:
Change: ()
High:
Low:
52 Week High:
Vol Avg(12 m):
Free Float:
52 Week Low:
Market Cap:
Total Share:

Relative Strength Index (RSI)

RSI:

MACD Signals

MACD DAILY:
MACD WEEKLY:

Simple Moving Avg (SMA)

SMA(10):
SMA(30):
SMA(60):
SMA(200):

Performance

One Month:
Three Months:
Six Months:
Twelve Months:

Support & Resistance

Support 1:
Resistance 1:
Support 2:
Resistance 2:

High & Lows

Period
High
Low