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>Topline Cement Universe is expected to post profitability of Rs32.4bn in 1QFY27 against profit of Rs27.8bn in 1QFY26, up by 16% YoY and 16% QoQ.</li><li>The YoY increase in earnings is primarily driven by increase in net sales amid higher retention prices.</li><li>Net sales are expected to reach Rs143bn in 1QFY27, reflecting growth of 25% YoY and 14% QoQ.</li></ul>

Topline Cement Universe is expected to post profitability of Rs32.4bn in 1QFY27 against profit of Rs27.8bn in 1QFY26, up by 16% YoY and 16% QoQ.The YoY increase in earnings is primarily driven by increase in net sales amid higher retention prices.Net sales are expected to reach Rs143bn in 1QFY27, reflecting growth of 25% YoY and 14% QoQ.

Jiangsu King's Luck Brewery JS (603369 CH)

Pakistan Cements - Profitability Likely to Be Up by 16% YoY in 1QFY27; Led by Higher Local Volumetric Sales and Retention Prices