External broker reports(aggregated public sources), Topline Securities

Topline Securities

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Materials / Thematic (Sector/Industry)

<ul><li>Pakistan's listed cement sector reported earnings of Rs30.91bn, up by 60% YoY and down by 8% QoQ.</li><li>Sales for the cement sector remained flattish on QoQ basis and increased by 5% YoY to Rs167.8bn in 4QFY25. Sector revenue decreased on a QoQ basis due to 6% decline QoQ in domestic dispatches.</li><li>Export dispatches were up by 33% YoY and down by 55% QoQ to 2.7mn tons in 4QFY25.</li></ul>

Pakistan's listed cement sector reported earnings of Rs30.91bn, up by 60% YoY and down by 8% QoQ.Sales for the cement sector remained flattish on QoQ basis and increased by 5% YoY to Rs167.8bn in 4QFY25. Sector revenue decreased on a QoQ basis due to 6% decline QoQ in domestic dispatches.Export dispatches were up by 33% YoY and down by 55% QoQ to 2.7mn tons in 4QFY25.

Pakistan Cement: Sector Profits Rise 60% YoY in 4QFY25; Led by Improved Retention Prices and Lower Finance Cost