LUCK
Lucky Cement Limited
LUCK · Cement · Group accounts
Share price
Rs 391.38
30 Oct 2026, 4:44 PM PKT
Latest accounts
Sep 2026
Q1 report
Operating performance
Figures from the reports' own text. Only like-for-like series are charted: levels across every report, volumes across full years.
Self-sufficient captive power generation capacity
214 MW in Annual report FY23.
MW · as stated in each report
Lucky Cement grand total market share 9M FY26
18.7 % in Nine-month report FY26.
% · as stated in each report
Gross profit margin (consolidated, % of net revenue)
25.4 % in Annual report FY26.
% · as stated in each report
Lucky Cement total export market share 9M FY26
33.1 % in Nine-month report FY26.
% · as stated in each report
Other reported figures (424) — not charted because they are not like-for-like
| Figure | Latest | Period | Why not charted | Source |
|---|---|---|---|---|
| Achieved market share FY21 | 17.3 % | Jun 2021 | Fewer than three comparable periods | |
| ASLIL group share of net profit (50%) | 1,735,191 PKR thousand | Sept 2023 | Fewer than three full-year figures | |
| Automobiles & mobile phones gross turnover 9M FY23 | 76,113,105 PKR '000 | Mar 2023 | Fewer than three full-year figures | |
| Automobiles segment turnover | 20,436,094 PKR '000 | Sept 2021 | Fewer than three full-year figures | |
| Automobiles segment turnover | 48,267 PKR million | Dec 2021 | Fewer than three full-year figures | |
| Bagged cement exports | 1,117 tons '000 | Jun 2021 | Fewer than three full-year figures | |
| Bagged export market share | 31.8 % | Dec 2025 | Fewer than three comparable periods | |
| Bagged export market share | 32.2 % | Sept 2025 | Reported in different units | |
| Bagged export sales volume | 363 tons '000 | Dec 2021 | Fewer than three full-year figures | |
| Bagged export sales (Q1 FY23, '000 tons) | 208 tons_000 | Sept 2022 | Unit not recognised | |
| Bagged export sales volume | 616 tons '000 | Dec 2025 | Fewer than three full-year figures | |
| Bagged export volume 9M FY23 | 600 tons '000 | Mar 2023 | Fewer than three full-year figures | |
| Basra grinding plant capacity | 1.7 MTPA | Jun 2025 | Fewer than three full-year figures | |
| Battery energy storage system capacity Pezu | 20.7 MW | Jun 2025 | Fewer than three comparable periods | |
| NYA DR Congo plant capacity | 1.18 MTPA | Jun 2022 | Fewer than three full-year figures | |
| Basra grinding plant capacity (JV Iraq) | 1.74 MTPA | Jun 2022 | Fewer than three full-year figures | |
| Samawah integrated plant capacity (JV Iraq) | 1.2 MTPA | Jun 2022 | Fewer than three full-year figures | |
| Capital expenditure (unconsolidated) | 6.47 PKR billion | Jun 2021 | Fewer than three full-year figures | |
| Captive power generation capacity | 214 MW | Jun 2024 | Fewer than three comparable periods | |
| Captive wind power capacity (Karachi) | 28.8 MW | Sept 2024 | Fewer than three comparable periods | |
| Samawah Iraq cement grinding mill capacity (commenced Nov'25) | 0.65 MTPA | Mar 2026 | Fewer than three full-year figures | |
| Cement / clinker sales volume (total) | 4,864 tons '000 | Dec 2025 | Fewer than three full-year figures | |
| Cement/clinker sales (Lucky Cement, 1Q FY27) | 2,642 '000 tons | Sept 2026 | Reported in different units | |
| Cement / clinker sales volume | 9,613 '000 tons | Jun 2026 | Fewer than three full-year figures | |
| Cement/clinker sales (Q1 FY23, '000 tons) | 1,576 tons_000 | Sept 2022 | Unit not recognised | |
| Cement/clinker sales 9M 2021-22 (tons '000) | 7,068 tons_000 | Mar 2022 | Unit not recognised | |
| Cement/clinker sales 9M FY23 | 5,443 tons '000 | Mar 2023 | Fewer than three full-year figures | |
| Cement/clinker sales volume total (1H FY25, '000 tons) | 4,790 tons_thousand | Dec 2024 | Unit not recognised | |
| Cement/clinker sales volume (total, company) | 6,430 000 tons | Mar 2024 | Reported in different units | |
| Cement operating result 9M FY23 | 13,706,536 PKR '000 | Mar 2023 | Fewer than three full-year figures | |
| Cement production | 3,970 tons '000 | Dec 2025 | Reported in different units | |
| Cement production (Lucky Cement, 1Q FY27) | 2,234 '000 tons | Sept 2026 | Reported in different units | |
| Cement production | 7,755 '000 tons | Jun 2026 | Reported in different units | |
| Cement production | 1,739 tons '000 | Sept 2024 | Reported in different units | |
| Cement production 9M 2021-22 (tons '000) | 6,428 tons_000 | Mar 2022 | Unit not recognised | |
| Cement production (1H FY25, '000 tons) | 3,678 tons_thousand | Dec 2024 | Unit not recognised | |
| Lucky Cement cement production 9M FY26 (tons '000) | 5,803 tons '000 | Mar 2026 | Reported in different units | |
| Cement production | 5,482 tons '000 | Mar 2025 | Fewer than three full-year figures | |
| Cement production | 1,966 tons '000 | Sept 2025 | Fewer than three full-year figures | |
| Cement sales | 8,264 tons '000 | Jun 2022 | Fewer than three full-year figures | |
| Cement / clinker sales volume | 2,193 tons '000 | Sept 2024 | Fewer than three full-year figures | |
| Cement/clinker sales volume FY24 | 8.59 million tonnes | Jun 2024 | Fewer than three full-year figures | |
| Total cement/clinker sales volume | 7.37 million tons | Jun 2023 | Fewer than three full-year figures | |
| Cement/clinker sales volume | 2,154,000 tons | Sept 2023 | Fewer than three full-year figures | |
| Total cement/clinker sales volume | 2,447 tons '000 | Sept 2025 | Fewer than three full-year figures | |
| Cement segment export gross revenue (1H FY25, PKR '000) | 21,382,653 PKR_thousand | Dec 2024 | Unit not recognised | |
| Cement segment local gross revenue (1H FY25, PKR '000) | 257,984,512 PKR_thousand | Dec 2024 | Unit not recognised | |
| Cement segment operating result (consolidated) | 23,238,528 PKR '000 | Mar 2025 | Fewer than three full-year figures | |
| Cement segment operating result | 6,229 PKR million | Dec 2021 | Fewer than three full-year figures | |
| Cement segment operating result (consolidated) | 9,503.3 PKR million | Sept 2025 | Fewer than three full-year figures | |
| Cement segment turnover | 50,607 PKR million | Dec 2021 | Fewer than three full-year figures | |
| Polyester, Soda Ash & Chemicals net revenue (Q1 FY23) | 24.2 PKR billion | Sept 2022 | Fewer than three full-year figures | |
| Clinker exports | 840 tons '000 | Jun 2021 | Fewer than three full-year figures | |
| Clinker export market share | 32.5 % | Dec 2025 | Fewer than three comparable periods | |
| Clinker export market share | 31.7 % | Sept 2025 | Reported in different units | |
| Clinker export sales volume | 410 tons '000 | Dec 2021 | Fewer than three full-year figures | |
| Clinker export sales (Q1 FY23, '000 tons) | 93 tons_000 | Sept 2022 | Unit not recognised | |
| Clinker export sales volume | 877 tons '000 | Dec 2025 | Fewer than three full-year figures | |
| Clinker export volume 9M FY23 | 180 tons '000 | Mar 2023 | Fewer than three full-year figures | |
| Clinker production | 4,573 tons '000 | Dec 2025 | Reported in different units |
Projects
76 projects, wells and blocks, most recently mentioned first. Stages are as reported; durations between reports are not project timelines.
- Al-Shumookh Lucky Investments Limited (Samawah integrated cement plant, JV)OperatingLast reported Sept 2026 · 22 mentions
JV carried at PKR 37,293.7m (June 2026: 37,244.3m)
View history
- Reported in Sept 2026 · Operating · PKR 37,293,672k JV carried at PKR 37,293.7m (June 2026: 37,244.3m)
- Reported in Jun 2026 · Operating · PKR 36,287,393k JV carried at PKR 36,287.4m (June 2025: 30,914.6m)
- Reported in Mar 2026 · Operating · PKR 36,287,393k JV carried at PKR 36,287.4m (June 2025: 30,914.6m)
- Reported in Dec 2025 · Operating · PKR 34,812,732k JV carried at PKR 34,812.7m (June 2025: 30,914.6m)
- Reported in Sept 2025 · Operating · PKR 32,626,236k 50% JV carried at PKR 32,626.2m (June 2025: 30,914.6m)
- Reported in Jun 2025 · Operating · PKR 26,854,833k 50% JV carried at PKR 26,854.8m (June 2024: 22,965.7m); Samawah plant 1.3 MTPA operational since 2021
- Reported in Mar 2025 · Operating · PKR 28,494,570k Joint venture carried at PKR 28,494.6m (June 2024: 22,965.7m)
- Reported in Dec 2024 · Operating · PKR 26,854,833k Joint venture carried at PKR 26,854.8m (June 2024: 22,965.7m)
- Reported in Sept 2024 · Operating · PKR 24,816,143k carrying value Joint venture carried at PKR 24,816.1m (June 2024: 22,965.7m)
- Reported in Jun 2024 · Operating · PKR 20,970.2m carrying value Integrated cement plant with 1.3 MTPA capacity commenced 2021
- Reported in Mar 2024 · Operating · PKR 20,970,248k Equity accounted, carried at PKR 20,970.2m
- Reported in Dec 2023 · Operating · PKR 17,654,000k Equity accounted, carried at PKR 17,654.0m
- Reported in Sept 2023 · Operating · PKR 17,654,000k Carried at PKR 17,654.0m (equity accounted)
- Reported in Jun 2023 · Operating · PKR 13,972,289k Carried at PKR 13,972.3m; plant shifted from furnace oil to natural gas
- Reported in Mar 2023 · Operating · PKR 13,972,289k 50% JV; carried at PKR 13,972.3m (equity accounted); share of net profit PKR 2,311.9m in 9M; plant shifted from furnace oil to natural gas
- Reported in Dec 2022 · Operating · PKR 10,038,130k 50% JV; carried at PKR 10,038.1m (equity accounted); share of profit PKR 1,093.3m; plant shifted from furnace oil to natural gas
- Reported in Sept 2022 · Operating · PKR 9,232,636k 50% JV; integrated cement plant; carrying value PKR 9,232.6m; share of net profit PKR 217.8m in Q1 FY23; plant shifted from furnace oil to natural gas effective October 2022
- Reported in Jun 2022 · Operating · PKR 6,963,549k 50% JV; 1.2 MTPA integrated cement plant commenced operations 2021; equity accounted carrying value PKR 6,963.5m; share of net profit PKR 1,733.3m
- Reported in Mar 2022 · Operating · PKR 6,963,549k 50% JV; integrated cement manufacturing unit; equity accounted carrying value PKR 6,963.5m; share of net profit PKR 1,733.3m
- Reported in Dec 2021 · Operating · PKR 6,082,744k 50% JV; COD achieved March 2021; carried at PKR 6,082.7m (equity accounted)
- Reported in Sept 2021 · Operating · PKR 5,180,086k 50% JV; COD achieved March 2021 per directors' report; investment carried at PKR 5,180.1m
- Reported in Jun 2021 · Operating Integrated greenfield cement facility via JV Al-Shumookh Lucky Investments Ltd (50% LCLIHL); commercial operations from March 10, 2021
- Yunus Energy Limited (associate, Jhimpir wind)OperatingLast reported Sept 2026 · 22 mentions
20% associate carried at PKR 2,075.5m (June 2026: 2,067.7m)
View history
- Reported in Sept 2026 · Operating · PKR 2,075,542k 20% associate carried at PKR 2,075.5m (June 2026: 2,067.7m)
- Reported in Jun 2026 · Operating · PKR 2,139,564k 20% associate carried at PKR 2,139.6m (June 2025: 2,034.5m)
- Reported in Mar 2026 · Operating · PKR 2,139,564k 20% associate carried at PKR 2,139.6m (June 2025: 2,034.5m)
- Reported in Dec 2025 · Operating · PKR 2,342,101k 20% associate carried at PKR 2,342.1m (June 2025: 2,034.5m)
- Reported in Sept 2025 · Operating · PKR 2,197,494k 20% associate carried at PKR 2,197.5m (June 2025: 2,034.5m)
- Reported in Jun 2025 · Operating · PKR 2,129,498k 20% associate carried at PKR 2,129.5m (June 2024: 2,272.5m); 50 MW Jhimpir wind project
- Reported in Mar 2025 · Operating · PKR 1,869,522k Associate carried at PKR 1,869.5m (June 2024: 2,272.5m)
- Reported in Dec 2024 · Operating · PKR 2,129,498k Associate carried at PKR 2,129.5m (June 2024: 2,272.5m)
- Reported in Sept 2024 · Operating · PKR 2,099,108k carrying value Associate carried at PKR 2,099.1m (June 2024: 2,272.5m)
- Reported in Jun 2024 · Operating · PKR 2,137.5m carrying value Wind power project supplying national grid since Sept 2016
- Reported in Mar 2024 · Operating · PKR 2,137,476k Carried at PKR 2,137.5m
- Reported in Dec 2023 · Operating · PKR 1,995,461k Carried at PKR 1,995.5m
- Reported in Sept 2023 · Operating · PKR 1,995,461k Carried at PKR 1,995.5m
- Reported in Jun 2023 · Operating · PKR 1,650,053k Carried at PKR 1,650.1m
- Reported in Mar 2023 · Operating · PKR 1,650,053k 20% associate (61,365,500 shares); carried at PKR 1,650.1m; share of profit PKR 226.5m in 9M
- Reported in Dec 2022 · Operating · PKR 1,695,891k 20% associate; 50 MW wind project; carried at PKR 1,695.9m; share of profit PKR 150.1m in half year
- Reported in Sept 2022 · Operating · PKR 1,764,813k 20% associate; 61,365,500 shares; carrying value PKR 1,764.8m; share of net profit PKR 96.8m in Q1 FY23
- Reported in Jun 2022 · Operating · PKR 1,456,153k 20% associate; 50 MW wind project; equity carrying value PKR 1,456.2m; share of profit PKR 254.1m in nine months
- Reported in Mar 2022 · Operating · PKR 1,456,153k 20% associate; 50 MW wind project; equity carrying value PKR 1,456.2m; share of profit PKR 254.1m in nine months
- Reported in Dec 2021 · Operating · PKR 1,473,655k 20% associate; 50 MW wind project; share of profit PKR 207.0m in half year
- Reported in Sept 2021 · Operating · PKR 1,537,502k 20% associate; 50 MW wind project; share of profit PKR 163.9m in quarter
- Reported in Jun 2021 · Operating 50 MW wind power project in Deh Kohistan, Jhimpir, Thatta; commercial operations since September 2016
- Lucky Al-Shumookh Holdings Limited (JV, Basra cement grinding)OperatingLast reported Sept 2026 · 22 mentions
50% JV carried at PKR 4,082.8m at Sep 2026 (June 2026: 4,210.2m)
View history
- Reported in Sept 2026 · Operating · PKR 4,082,831k 50% JV carried at PKR 4,082.8m at Sep 2026 (June 2026: 4,210.2m)
- Reported in Jun 2026 · Operating · PKR 4,242,038k 50% JV carried at PKR 4,242.0m at Mar 2026 (June 2025: 6,967.3m)
- Reported in Mar 2026 · Operating · PKR 4,242,038k 50% JV carried at PKR 4,242.0m at Mar 2026 (June 2025: 6,967.3m)
- Reported in Dec 2025 · Operating · PKR 5,503,677k 50% JV carried at PKR 5,503.7m (June 2025: 6,967.3m)
- Reported in Sept 2025 · Operating · PKR 5,573,877k 50% JV carried at PKR 5,573.9m (June 2025: 6,967.3m)
- Reported in Jun 2025 · Operating · PKR 9,236,905k 50% JV carried at PKR 9,236.9m (June 2024: 8,354.4m); Basra grinding plant 1.7 MTPA operational since 2014
- Reported in Mar 2025 · Operating · PKR 8,015,178k Joint venture carried at PKR 8,015.2m (June 2024: 8,354.4m)
- Reported in Dec 2024 · Operating · PKR 9,236,905k Joint venture carried at PKR 9,236.9m (June 2024: 8,354.4m)
- Reported in Sept 2024 · Operating · PKR 8,536,376k carrying value Joint venture carried at PKR 8,536.4m (June 2024: 8,354.4m)
- Reported in Jun 2024 · Operating · PKR 8,339.8m carrying value Cement grinding unit in Basra, Iraq; 1.7 MTPA total capacity
- Reported in Mar 2024 · Operating · PKR 8,339,802k Equity accounted, carried at PKR 8,339.8m
- Reported in Dec 2023 · Operating · PKR 7,939,771k Equity accounted, carried at PKR 7,939.8m
- Reported in Sept 2023 · Operating · PKR 7,939,771k Carried at PKR 7,939.8m (equity accounted)
- Reported in Jun 2023 · Operating · PKR 10,600,047k Carried at PKR 10,600.0m (equity accounted)
- Reported in Mar 2023 · Operating · PKR 10,600,047k 50% JV; carried at PKR 10,600.0m (equity accounted); share of net profit PKR 1,266.2m in 9M
- Reported in Dec 2022 · Operating · PKR 9,228,003k 50% JV; carried at PKR 9,228.0m (equity accounted); share of profit PKR 842.1m
- Reported in Sept 2022 · Operating · PKR 9,855,686k 50% JV operating cement grinding unit in Basra, Iraq; carrying value PKR 9,855.7m; share of net profit PKR 258.7m in Q1 FY23
- Reported in Jun 2022 · Operating · PKR 10,625,136k 50% JV operating cement grinding unit in Basra, Iraq (1.742 MTPA capacity); equity accounted carrying value PKR 10,625.1m; share of net profit PKR 1,082.4m
- Reported in Mar 2022 · Operating · PKR 10,625,136k 50% JV with Al-Shumookh group operating cement grinding unit in Basra, Iraq; equity accounted carrying value PKR 10,625.1m; share of net profit PKR 1,082.4m
- Reported in Dec 2021 · Operating · PKR 9,898,879k 50% JV with Al-Shumookh group operating cement grinding unit in Basra, Iraq; carried at PKR 9,898.9m (equity accounted)
- Reported in Sept 2021 · Operating · PKR 9,156,597k 50% JV with Al-Shumookh group operating cement grinding unit in Basra, Iraq; investment carried at PKR 9,156.6m
- Reported in Jun 2021 · Operating JV with Al-Shumookh Group (LCLIHL 50%); commercial operations started 2014; brownfield expansion completed 2018 by 0.871 MTPA, total capacity 1.742 MTPA
- LuckyRawji Holdings Limited (JV, DR Congo integrated cement plant)OperatingLast reported Sept 2026 · 22 mentions
JV carried at PKR 50,111.3m (June 2026: 48,188.5m)
View history
- Reported in Sept 2026 · Operating · PKR 50,111,303k JV carried at PKR 50,111.3m (June 2026: 48,188.5m)
- Reported in Jun 2026 · Operating · PKR 46,671,458k JV carried at PKR 46,671.5m (June 2025: 40,656.0m)
- Reported in Mar 2026 · Operating · PKR 46,671,458k JV carried at PKR 46,671.5m (June 2025: 40,656.0m)
- Reported in Dec 2025 · Operating · PKR 45,509,601k JV carried at PKR 45,509.6m (June 2025: 40,656.0m)
- Reported in Sept 2025 · Operating · PKR 43,311,787k 50% JV carried at PKR 43,311.8m (June 2025: 40,656.0m)
- Reported in Jun 2025 · Operating · PKR 37,021,449k 50% JV carried at PKR 37,021.4m (June 2024: 33,230.1m); DR Congo plant 1.3 MTPA operational since Dec 2016
- Reported in Mar 2025 · Operating · PKR 38,659,787k Joint venture carried at PKR 38,659.8m (June 2024: 33,230.1m)
- Reported in Dec 2024 · Operating · PKR 37,021,449k Joint venture carried at PKR 37,021.4m (June 2024: 33,230.1m)
- Reported in Sept 2024 · Operating · PKR 34,912,264k carrying value Joint venture carried at PKR 34,912.3m (June 2024: 33,230.1m)
- Reported in Jun 2024 · Operating · PKR 31,050.1m carrying value Commenced operations Dec 2016 with 1.3 MTPA capacity
- Reported in Mar 2024 · Operating · PKR 31,050,064k Equity accounted, carried at PKR 31,050.1m
- Reported in Dec 2023 · Operating · PKR 30,442,906k Equity accounted, carried at PKR 30,442.9m
- Reported in Sept 2023 · Operating · PKR 30,442,906k Carried at PKR 30,442.9m (equity accounted)
- Reported in Jun 2023 · Operating · PKR 26,394,062k Carried at PKR 26,394.1m (equity accounted)
- Reported in Mar 2023 · Operating · PKR 26,394,062k 50% JV with Rawsons Investments; carried at PKR 26,394.1m (equity accounted); share of net profit PKR 2,170.9m in 9M
- Reported in Dec 2022 · Operating · PKR 20,562,776k 50% JV with Rawsons Investments; carried at PKR 20,562.8m (equity accounted); share of profit PKR 1,565.9m
- Reported in Sept 2022 · Operating · PKR 19,765,420k 50% JV with Rawsons Investments; integrated cement plant in DRC; carrying value PKR 19,765.4m; share of net profit PKR 608.0m in Q1 FY23
- Reported in Jun 2022 · Operating · PKR 15,443,823k 50% JV with Rawsons Investments; NYA integrated cement plant 1.18 MTPA, commercial operations December 2016, approx. 50% market share in DRC; equity accounted carrying value PKR 15,443.8m; share of net profit PKR 1,269.8m
- Reported in Mar 2022 · Operating · PKR 15,443,823k 50% JV with Rawsons Investments operating integrated cement plant in DR Congo; equity accounted carrying value PKR 15,443.8m; share of net profit PKR 1,269.8m
- Reported in Dec 2021 · Operating · PKR 14,451,590k 50% JV with Rawsons Investments operating integrated cement plant in DR Congo; carried at PKR 14,451.6m (equity accounted)
- Reported in Sept 2021 · Operating · PKR 13,472,381k 50% JV with Rawsons Investments operating integrated cement plant in DR Congo; investment carried at PKR 13,472.4m
- Reported in Jun 2021 · Operating JV LuckyRawji Holdings Ltd (LCLIHL 50%) with Rawsons Investments; commercial operations December 2016
Risks
Highlighted by management in the latest report. Severity is a model assessment, not a probability.
Elevated energy costs and supply disruptions weighing on pace of economic recovery and cement margins; energy costs principal variable affecting margin outlook
Model severitymedium· operational· mentioned since Jun 2021
Geopolitical tensions in Middle East causing oil price spike, inflation and re-escalation risk; disruptions around Strait of Hormuz affecting raw material availability, pricing and freight
Model severitymedium· geopolitical· mentioned since Jun 2026
Commitment on behalf of LEPCL subsidiary for cost over-run, PSRA, CSA and excess debt support of PKR 48,072.9m (consolidated) — contingent exposure
Model severitymedium· legal· mentioned since Dec 2021
LCI: competition from cheaper imports (Chinese soda ash) and higher energy costs pressuring soda ash margins; pharmaceuticals hit by subdued purchasing power and intensified competition
Model severitymedium· operational· mentioned since Sept 2021
Not mentioned in the latest report (12)
Absence from a later report does not mean the risk was resolved.
- Inflationary pressure, adverse exchange rate parity and rising input prices (coal, fuels) elevating production costs (last mentioned Jun 2026)
- Power sector circular structure: transmission constraints and solarization reducing grid baseload demand; capacity payment burden (last mentioned Jun 2026)
- Elevated energy, tax and interest rates weighing on value-added segment margins (last mentioned Jun 2026)
- Subdued demand, low-cost imports and tariff rationalization pressuring polyester, soda ash and chemicals businesses (last mentioned Jun 2026)
- Strategic risks from macroeconomic conditions and policy changes (last mentioned Jun 2026)
- IMF program continuity dependence; timely reform execution required (last mentioned Jun 2026)
- Geopolitical situation in Iraq causing cement sales decline (last mentioned Jun 2026)
- Export volume pressure from closure of Afghan border (last mentioned Jun 2026)
- Financial risks from foreign exchange, interest rate and commodity price movements (last mentioned Jun 2026)
- Operational disruption risks to production and sales (last mentioned Jun 2026)
- Compliance and regulatory changes may cause disruption and reputational risk; litigation risk (last mentioned Jun 2026)
- Potential tax-base and tax-revenue challenges; low tax-to-GDP ratio, loss-making SOEs (last mentioned Jun 2026)
Management view
What management expects, from the Q1 report for Sept 2026
- The ongoing 1.6 MTPA expansion of the DRC integrated cement plant is expected to maximize asset utilization and reinforce competitive position upon completion. (positive tone)
- Domestic cement demand is expected to build gradually on the recovery achieved during FY 2026, although elevated construction costs and higher borrowing rates could temper near-term momentum. (positive tone)
- The overall outlook for the automobile sector is still positive, with new Kia models, the GAC NEV partnership and localization expected to enhance LMC's competitive positioning. (positive tone)
- LMC sees a positive outlook for smartphones, as Samsung produces its own DRAM and has no supply constraints for Pakistan, with the A series expected to keep a larger market share. (positive tone)
Stated targets: Karachi plant installed cement capacity expected to increase to 8.55 MTPA upon completion of the 3.20 MTPA brownfield expansion.; Total cement production capacity in Pakistan expected to reach 18.80 MTPA post-expansion.; Commercial operations of Karachi brownfield expansion targeted for December 2027.; DRC NYA plant capacity expected to rise from 1.31 MTPA to 2.91 MTPA with the 1.6 MTPA line, completion targeted 18 months after construction start.; Total renewable energy capacity post-expansion of 221.6 MW, expected to meet approximately 60% of energy requirements.; Pezu solar 15 MW COD targeted for 4Q FY2027; WHR 10 MW and wind 22.5 MW CODs targeted for 2Q FY2028.; Dedicated Thar coal rail link expected to start partial commercial operations by end of calendar 2027.; IMF projects FY2027 GDP growth of 3.5% and average inflation of 9.9%, versus government targets of 4.0% and 5-7%.
▲ positive · ■ neutral · ▼ negative tone, as assessed by the model.
Read from LUCK's reports; nothing here is a forecast by this dashboard.