External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Lucky Cement (LUCK) announced its 4QFY25 result today, where the company recorded consolidated earnings of Rs19.69bn (EPS of Rs13.41) up by 34% YoY, in line with our expectations.</li><li>Alongside the result, the company announced annual cash dividend of Rs4.0/share in 4QFY25, which was in line with the industry expectations.</li><li>On consol basis, net revenue increased by 12% YoY and by 8% QoQ to Rs116.8bn. Increase in revenue on a YoY basis is due to higher revenue from Local Cement and Lucky Motors (in line with auto industry sales trend), we believe.</li></ul>

Lucky Cement (LUCK) announced its 4QFY25 result today, where the company recorded consolidated earnings of Rs19.69bn (EPS of Rs13.41) up by 34% YoY, in line with our expectations.Alongside the result, the company announced annual cash dividend of Rs4.0/share in 4QFY25, which was in line with the industry expectations.On consol basis, net revenue increased by 12% YoY and by 8% QoQ to Rs116.8bn. Increase in revenue on a YoY basis is due to higher revenue from Local Cement and Lucky Motors (in line with auto industry sales trend), we believe.

Lucky Cement (LUCK): 4QFY25 EPS at Rs13.41, FY25 EPS at Rs52.53 (Earnings in Line with Expectations)