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ACPL

Attock Cement PakistanKASE:ACPL Stock Report

Market Cap

PK₨18.6b

7D

-1.3%

1Y

-11.6%

Updated

23 Oct, 2021

Data

Company Financials +
ACPL fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance1/6
Financial Health5/6
Dividends3/6

ACPL Overview

Attock Cement Pakistan Limited manufactures and sells cement in Pakistan.

Rewards

Trading at 65.8% below our estimate of its fair value

Earnings are forecast to grow 53.24% per year

Risk Analysis

No risks detected for ACPL from our risk checks.

Price History & Performance

Summary of all time highs, changes and price drops for Attock Cement Pakistan
Historical stock prices
Current Share PricePK₨135.26
52 Week HighPK₨120.00
52 Week LowPK₨194.01
Beta0.53
1 Month Change-2.97%
3 Month Change-24.82%
1 Year Change-11.61%
3 Year Change6.41%
5 Year Change-34.10%
Change since IPO744.56%

Recent News & Updates

Shareholder Returns

ACPLPK Basic MaterialsPK Market
7D-1.3%4.3%0.8%
1Y-11.6%-5.5%0.3%

Return vs Industry: ACPL underperformed the PK Basic Materials industry which returned -5.5% over the past year.

Return vs Market: ACPL underperformed the PK Market which returned 0.3% over the past year.

Price Volatility

Is ACPL's price volatile compared to industry and market?
ACPL volatility
ACPL Beta0.53
Industry Beta0.75
Market Beta1

Stable Share Price: ACPL is not significantly more volatile than the rest of PK stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: ACPL's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1981974Babar Nawazhttps://www.attockcement.com

Attock Cement Pakistan Limited manufactures and sells cement in Pakistan. The company offers ordinary Portland cement, sulphate resistant cement, block cement, and rock cement under the Falcon brand. It also exports its products primarily to Sri Lanka, Africa, the Middle East, Asia, and Bangladesh.

Attock Cement Pakistan Fundamentals Summary

How do Attock Cement Pakistan's earnings and revenue compare to its market cap?
ACPL fundamental statistics
Market CapPK₨18.59b
Earnings (TTM)PK₨1.74b
Revenue (TTM)PK₨27.03b

10.7x

P/E Ratio

0.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ACPL income statement (TTM)
RevenuePK₨27.03b
Cost of RevenuePK₨21.27b
Gross ProfitPK₨5.76b
ExpensesPK₨4.02b
EarningsPK₨1.74b

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)12.66
Gross Margin21.31%
Net Profit Margin6.44%
Debt/Equity Ratio30.1%

How did ACPL perform over the long term?

See historical performance and comparison

Dividends

3.0%

Current Dividend Yield

32%

Payout Ratio

Valuation

Is Attock Cement Pakistan undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ACPL (PKR135.26) is trading below our estimate of fair value (PKR395.98)

Significantly Below Fair Value: ACPL is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: ACPL is poor value based on its PE Ratio (10.7x) compared to the PK Basic Materials industry average (10x).

PE vs Market: ACPL is poor value based on its PE Ratio (10.7x) compared to the PK market (7.5x).


Price to Earnings Growth Ratio

PEG Ratio: ACPL is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: ACPL's PB Ratio (1x) is in line with the PK Basic Materials industry average.


Future Growth

How is Attock Cement Pakistan forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

53.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ACPL's forecast earnings growth (53.2% per year) is above the savings rate (10%).

Earnings vs Market: ACPL's earnings (53.2% per year) are forecast to grow faster than the PK market (11.4% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ACPL's revenue (17.2% per year) is forecast to grow faster than the PK market (10.2% per year).

High Growth Revenue: ACPL's revenue (17.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ACPL's Return on Equity is forecast to be low in 3 years time (11.4%).


Past Performance

How has Attock Cement Pakistan performed over the past 5 years?

-12.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ACPL has high quality earnings.

Growing Profit Margin: ACPL's current net profit margins (6.4%) are lower than last year (8.2%).


Past Earnings Growth Analysis

Earnings Trend: ACPL's earnings have declined by 12% per year over the past 5 years.

Accelerating Growth: ACPL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ACPL had negative earnings growth (-18.3%) over the past year, making it difficult to compare to the Basic Materials industry average (30.7%).


Return on Equity

High ROE: ACPL's Return on Equity (9.1%) is considered low.


Financial Health

How is Attock Cement Pakistan's financial position?


Financial Position Analysis

Short Term Liabilities: ACPL's short term assets (PKR14.5B) exceed its short term liabilities (PKR11.6B).

Long Term Liabilities: ACPL's short term assets (PKR14.5B) exceed its long term liabilities (PKR4.3B).


Debt to Equity History and Analysis

Debt Level: ACPL's debt to equity ratio (30.1%) is considered satisfactory.

Reducing Debt: ACPL's debt to equity ratio has increased from 0% to 30.1% over the past 5 years.

Debt Coverage: ACPL's debt is well covered by operating cash flow (70.5%).

Interest Coverage: ACPL's interest payments on its debt are well covered by EBIT (28.7x coverage).


Balance Sheet


Dividend

What is Attock Cement Pakistan current dividend yield, its reliability and sustainability?

2.96%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ACPL's dividend (2.96%) isn’t notable compared to the bottom 25% of dividend payers in the PK market (3.17%).

High Dividend: ACPL's dividend (2.96%) is low compared to the top 25% of dividend payers in the PK market (10.54%).


Stability and Growth of Payments

Stable Dividend: ACPL's dividend payments have been volatile in the past 10 years.

Growing Dividend: ACPL's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.6%), ACPL's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ACPL's dividends in 3 years are forecast to be well covered by earnings (38.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.0yrs

Average board tenure


CEO

Babar Nawaz

1

Tenure

PK₨11,922,000

Compensation

Mr. Babar Bashir Nawaz serves as Director at Attock Refinery Limited since August 3, 2021. He has been Chief Executive Officer of Attock Cement Pakistan Limited since October 26, 2020 and serves as its Exe...


Board Members

Experienced Board: ACPL's board of directors are not considered experienced ( 1 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Attock Cement Pakistan Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Attock Cement Pakistan Limited
  • Ticker: ACPL
  • Exchange: KASE
  • Founded: 1981
  • Industry: Construction Materials
  • Sector: Materials
  • Market Cap: PK₨18.588b
  • Shares outstanding: 137.43m
  • Website: https://www.attockcement.com

Number of Employees


Location

  • Attock Cement Pakistan Limited
  • D - 70, Kehkashan-5
  • Block-4
  • Karachi
  • 75600
  • Pakistan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/23 13:31
End of Day Share Price2021/10/22 00:00
Earnings2021/09/30
Annual Earnings2021/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.