External broker reports(aggregated public sources), Topline Securities

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External broker reports(aggregated public sources)

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Event-Driven

<ul><li>As per company notice, Fauji Fertilizer Company Limited (FFC) board has approved acquisition of 214,687,500 ordinary shares of FFBL Power Company (FPCL) (25% of the paid capital) from the Parent Company Fauji Foundation. Post this acquisition, total ownership of FFC in FPCL will increase to 100%.</li><li>For this purpose, swap ratio has been calculated as per valuation report which translates 1 share of FFC against a consideration of 13.49 shares of FPCL.</li><li>FFC will issue 15,914,566 ordinary shares at a par value of Rs10 per share, representing approximately 1.1% of the company’s paid-up share capital before the issue. The issuance will result in minimal dilution for existing shareholders.</li></ul>

As per company notice, Fauji Fertilizer Company Limited (FFC) board has approved acquisition of 214,687,500 ordinary shares of FFBL Power Company (FPCL) (25% of the paid capital) from the Parent Company Fauji Foundation. Post this acquisition, total ownership of FFC in FPCL will increase to 100%.For this purpose, swap ratio has been calculated as per valuation report which translates 1 share of FFC against a consideration of 13.49 shares of FPCL.FFC will issue 15,914,566 ordinary shares at a par value of Rs10 per share, representing approximately 1.1% of the company’s paid-up share capital before the issue. The issuance will result in minimal dilution for existing shareholders.

Topline Flash Note: Fauji Fertilizer Company Limited (FFC) - Acquiring Of 25% In FFBL Power Company Limited (FPCL), Taking Total Ownership To 100%

Equity Bottom-Up

<ul><li>Fauji Cement Company Limited (FCCL) conducted its FY25 corporate briefing session today where management discussed financial performance and future outlook.</li><li>Regarding the unsecured loan from Fauji Foundation, management stated that they have start accruing a 10% markup, and no decision has been taken to convert it into ordinary shares.</li><li>FCCL sold 5.37mn tons of cement in FY25, registration a growth of 5.7% YoY vs. FY24. In this, Local sales increased by 5.5% YoY to 4.81mn tons and export sales increased by 7.7% YoY to 0.56mn tons.</li></ul>

Fauji Cement Company Limited (FCCL) conducted its FY25 corporate briefing session today where management discussed financial performance and future outlook.Regarding the unsecured loan from Fauji Foundation, management stated that they have start accruing a 10% markup, and no decision has been taken to convert it into ordinary shares.FCCL sold 5.37mn tons of cement in FY25, registration a growth of 5.7% YoY vs. FY24. In this, Local sales increased by 5.5% YoY to 4.81mn tons and export sales increased by 7.7% YoY to 0.56mn tons.

Topline Flash Note: Fauji Cement (FCCL) – Corporate Briefing Key Takeaways

<ul><li>FCCL announced its 4QFY25 result today, where the company recorded earnings of Rs3.92bn (EPS of Rs1.6), up by 231% YoY.</li><li>Alongside the result, the company announced final cash dividend of Rs1.25/share in 4QFY25, which was below the industry expectations.</li><li>Net Revenue increased by 6% YoY and by 13% QoQ to Rs21.8bn in 4QFY25. Increase in revenue on a YoY and QoQ basis is due to higher local and export dispatches and higher retention prices domestically.</li></ul>

FCCL announced its 4QFY25 result today, where the company recorded earnings of Rs3.92bn (EPS of Rs1.6), up by 231% YoY.Alongside the result, the company announced final cash dividend of Rs1.25/share in 4QFY25, which was below the industry expectations.Net Revenue increased by 6% YoY and by 13% QoQ to Rs21.8bn in 4QFY25. Increase in revenue on a YoY and QoQ basis is due to higher local and export dispatches and higher retention prices domestically.

Fauji Cement (FCCL): 4QFY25 EPS at Rs1.6, Up 69% QoQ, FY25 EPS at Rs5.43 (In Line With Expectations)

<ul>
<li>FCCL announced its 3QFY25 result with earnings of Rs2.1bn (EPS of Rs0.87), up by 21% YoY.</li>
<li>The result was lower than industry expectations due to higher finance costs and lower gross margins.</li>
<li>No cash dividend was announced for 3QFY25, aligning with expectations.</li>
</ul>


FCCL announced its 3QFY25 result with earnings of Rs2.1bn (EPS of Rs0.87), up by 21% YoY.
The result was lower than industry expectations due to higher finance costs and lower gross margins.
No cash dividend was announced for 3QFY25, aligning with expectations.


Fauji Cement (FCCL): 3QFY25 EPS at Rs0.87, up by 21% YoY (Earnings lower than expectations)

<ul><li>FCCL announced its 2QFY25 result today, where the company recorded earnings of Rs4.02bn (EPS of Rs1.64), up by 51% YoY.</li><li>The result came higher than industry expectations due to higher-than-expected gross margins.</li><li>Alongside the result, the company did not announce any cash dividend in 2QFY25 which was according to expectations.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

FCCL announced its 2QFY25 result today, where the company recorded earnings of Rs4.02bn (EPS of Rs1.64), up by 51% YoY.The result came higher than industry expectations due to higher-than-expected gross margins.Alongside the result, the company did not announce any cash dividend in 2QFY25 which was according to expectations.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Fauji Cement (FCCL): 2QFY25 EPS at Rs1.64, up by 51% YoY

Pakistan

Fauji Cement Company Limited manufactures and sells cement.

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Fauji Cement (FCCL PA)

Topline Flash Note: Fauji Fertilizer Company Limited (FFC) - Acquiring Of 25% In FFBL Power Company Limited (FPCL), Taking Total Ownership To 100%

As per company notice, Fauji Fertilizer Company Limited (FFC) board has approved acquisition of 214,687,500 ordinary shares of FFBL Power Company...

Topline Securities

Topline Flash Note: Fauji Cement (FCCL) – Corporate Briefing Key Takeaways

Fauji Cement Company Limited (FCCL) conducted its FY25 corporate briefing session today where management discussed financial performance and...

Topline Securities

Fauji Cement (FCCL): 4QFY25 EPS at Rs1.6, Up 69% QoQ, FY25 EPS at Rs5.43 (In Line With Expectations)

FCCL announced its 4QFY25 result today, where the company recorded earnings of Rs3.92bn (EPS of Rs1.6), up by 231% YoY. Alongside the result, the...

Topline Securities

Fauji Cement (FCCL): 3QFY25 EPS at Rs0.87, up by 21% YoY (Earnings lower than expectations)

FCCL announced its 3QFY25 result with earnings of Rs2.1bn (EPS of Rs0.87), up by 21% YoY. The result was lower than industry expectations due to...

Topline Securities

Fauji Cement (FCCL): 2QFY25 EPS at Rs1.64, up by 51% YoY

FCCL announced its 2QFY25 result today, where the company recorded earnings of Rs4.02bn (EPS of Rs1.64), up by 51% YoY. The result came higher...

Topline Securities

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