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>In a notice to the exchange today, Lucky Cement (LUCK) announced that, during its emergent board meeting held on September 6, 2023, it had decided to invest in renewable power projects with the aim of increasing the contribution of renewable energy to the power mix.</li><li>The estimated cost of upcoming projects is expected to be around Rs11bn, as per notice. Although the company has not disclosed the exact debt and equity mix, however, we believe that a significant portion will be financed through equity as the company currently holds Rs26bn in cash and cash equivalents as of June 2023.</li><li>These solar power projects are in addition to 25MW and 34MW solar power projects commissioned recently at Karachi and Pezu plant respectively. The details of the projects is as follows; 28.8MW Captive Wind Power Project &amp; 6.3MW Solar Power Project at Karachi site</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>

In a notice to the exchange today, Lucky Cement (LUCK) announced that, during its emergent board meeting held on September 6, 2023, it had decided to invest in renewable power projects with the aim of increasing the contribution of renewable energy to the power mix.The estimated cost of upcoming projects is expected to be around Rs11bn, as per notice. Although the company has not disclosed the exact debt and equity mix, however, we believe that a significant portion will be financed through equity as the company currently holds Rs26bn in cash and cash equivalents as of June 2023.These solar power projects are in addition to 25MW and 34MW solar power projects commissioned recently at Karachi and Pezu plant respectively. The details of the projects is as follows; 28.8MW Captive Wind Power Project &amp; 6.3MW Solar Power Project at Karachi siteContent 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.

Topline Flash Note: Lucky Cement (LUCK) To Raise Its Contribution of Renewable Energy