⚡ Flash Summary

Lucky Cement Limited’s financial results for the 1st quarter ended September 30, 2025, show a mixed performance. On a consolidated basis, gross revenue increased by 13.5% to PKR 155.4 billion, driven by improved performance of the company and its subsidiaries. However, gross profit decreased slightly by 0.8% to PKR 31.481 billion. The net profit attributable to shareholders increased significantly, resulting in an EPS of PKR 15.01, a 22.7% increase compared to the same period last year, indicating improved efficiency and profitability.

📌 Key Takeaways

• ⬆️ Gross revenue increased by 13.5% to PKR 155.4 billion compared to PKR 136.8 billion in SPLY.
• 📉 Gross profit slightly decreased by 0.8% to PKR 31.481 billion.
• 🚀 Earnings per share (EPS) increased by 22.7% to PKR 15.01 compared to PKR 12.24 in SPLY.
• 🏭 Domestic cement operations revenue increased by 15.2%, driven by a 17.7% increase in local sales volumes.
• 🌍 Export volumes of cement saw a modest increase of 1.2%.
• 🤝 Cement production facilities in Iraq and Congo continued to drive profitability with improved margins.
• 📉 Lucky Core Industries’ (LCI) net turnover decreased by 7% to PKR 28.6 billion.
• 💊 Pharmaceuticals and Animal Health businesses saw growth momentum with increases of 25% and 22%, respectively.
• ⚡ The Lucky Electric Power Company Limited (LEPCL) plant maintained 100% commercial availability.
• 🚗 The automobile sector saw a 52% volume increase compared to last year.
• 📱 Smartphone imports registered a 143% volume increase and a 114% value increase.
• ⛏️ Strategic expansion in copper and gold mining through National Resources (Pvt.) Limited (NRL).
• 🌱 Continued emphasis on environmental stewardship and community development initiatives.

🎯 Investment Thesis

Lucky Cement is a BUY. The company shows strong revenue growth and improved EPS, reflecting efficient operations and market demand. Strategic expansions in mining and stable performance of subsidiaries provide long-term growth potential. The company’s commitment to environmental and community initiatives adds to its appeal. Price Target: PKR 600 (20% upside from current levels). Time Horizon: Medium Term (12-18 months).