⚡ Flash Summary

Lucky Core Industries Limited reported a decrease in net turnover for the quarter ended September 30, 2025, with a 7% decline compared to the same period last year, amounting to PKR 28,614 million. While Pharmaceuticals and Animal Health businesses showed growth, Polyester, Soda Ash, and Chemical & Agri Sciences sectors experienced declines. The operating result also decreased by 11% to PKR 3,755 million. Profit after tax (PAT) declined by 6% to PKR 2,449 million due to lower operating results, partially offset by dividend income and reduced finance costs. Earnings per share (EPS) stood at PKR 5.30, also a 6% decrease from the previous year.

📌 Key Takeaways

• 📉 Net turnover decreased by 7% to PKR 28,614 million compared to the same quarter last year.
• 💊 Pharmaceuticals business turnover increased by 25% year-over-year.
• 🐄 Animal Health business turnover increased by 22% year-over-year.
• 🧶 Polyester business turnover decreased by 18% year-over-year, to PKR 9,190 million.
• 🥤 Soda Ash business turnover decreased by 11% year-over-year, to PKR 9,856 million.
• 🧪 Chemicals & Agri Sciences business turnover decreased by 7% year-over-year, to PKR 2,778 million.
• Operating result decreased by 11% to PKR 3,755 million year-over-year.
• 💊 Pharmaceuticals business operating result increased by 45% year-over-year.
• 🐄 Animal Health business operating result increased by 20% year-over-year.
• 🧶 Polyester business operating result decreased by 64% year-over-year, to PKR 174 million.
• 📉 Profit after tax (PAT) decreased by 6% to PKR 2,449 million year-over-year.
• 💸 Dividend income of PKR 340 million received from Lucky Core PowerGen Limited.
• 💰 Earnings per share (EPS) decreased by 6% to PKR 5.30 year-over-year.
• 🔥 Soda Ash domestic sales grew by 15% year-over-year, offsetting low exports.
• 🔄 Company completed stock split, reducing share value from PKR 10 to PKR 2.

🎯 Investment Thesis

Given the mixed performance, with growth in some sectors offset by declines in others and an overall decrease in profitability, a HOLD recommendation is appropriate. The company faces significant headwinds but also has growth opportunities, particularly in the Pharmaceuticals sector.