Power Cement revenue climbs 24% to Rs13.3bn in 9MFY22

October 05, 2022

Qudsia Bano

Power Cement Limited’s revenue climbed 24% to Rs13.3 billion in the first nine months of the previous financial year 2021-22 from Rs10.78 billion over the corresponding period of the earlier fiscal.

The gross profit of the company, however, decreased 8% to Rs2.2 billion during the period under review from Rs2.4 billion over the corresponding period of the fiscal 2020-21.

The net income also decreased 97% to Rs6.78 million compared to a profit of Rs260 million in the corresponding period of FY21, reports WealthPK.

As of June 30, 2021, directors, the chief executive officer, their spouses and minor children owned 10.22% shares of the company. Associated companies, undertakings and related parties held 70.10% shares, banks, development financial institutions, and non-banking financial institutions owned 1.39% shares, modarabas and mutual funds had 0.36%, general public (local) owned 16.48% shares and ‘others’ held 1.47% shares, respectively.

Annual results 2020-21

During the fiscal year 2020-21, the company maintained a strong sales trend, generating revenue of Rs14.2 billion with an increase of 246% over Rs4.1 billion in 2019-20. The gross profit for the year stood at Rs4.1 billion, up a whopping 20219% from Rs20 million the previous year. Profit-after-taxation for FY21 stood at Rs358 million with an increase of 110% over a loss of Rs3.6 billion the previous year.

The earnings per share (EPS) stood at Rs0.32 in 2018 and slightly improved to Rs0.55 the next year. However, in 2020, the EPS went negative at Rs3.41. The EPS rebounded to Rs0.17 in 2021.

Power Cement Limited was established in Pakistan as a private limited business on December 1, 1981. On July 9, 1987, it underwent a conversion to become a public limited company.

The primary business of the firm is the production, distribution, and marketing of cement.