Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨103, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Basic Materials industry in Pakistan. Total returns to shareholders of 215% over the past three years. New Risk • May 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Pakistani stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (47% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (9.7% average weekly change). Reported Earnings • Apr 24
Third quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2026 results: EPS: PK₨2.03 (down from PK₨2.39 in 3Q 2025). Revenue: PK₨8.16b (flat on 3Q 2025). Net income: PK₨1.87b (down 20% from 3Q 2025). Profit margin: 23% (down from 29% in 3Q 2025). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 9.9%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Basic Materials industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 16
Kohat Cement Company Limited to Report Q3, 2026 Results on Apr 23, 2026 Kohat Cement Company Limited announced that they will report Q3, 2026 results on Apr 23, 2026 Price Target Changed • Apr 14
Price target increased by 7.8% to PK₨145 Up from PK₨134, the current price target is an average from 6 analysts. New target price is 56% above last closing price of PK₨92.55. Stock is up 19% over the past year. The company is forecast to post earnings per share of PK₨11.40 for next year compared to PK₨11.97 last year. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to PK₨93.31, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Basic Materials industry in Pakistan. Total returns to shareholders of 223% over the past three years. Reported Earnings • Feb 28
Second quarter 2026 earnings: Revenues and EPS in line with analyst expectations Second quarter 2026 results: EPS: PK₨2.82 (down from PK₨3.52 in 2Q 2025). Revenue: PK₨10.5b (down 1.2% from 2Q 2025). Net income: PK₨2.60b (down 25% from 2Q 2025). Profit margin: 25% (down from 33% in 2Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Basic Materials industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Feb 26
Now 24% overvalued Over the last 90 days, the stock has fallen 4.6% to PK₨96.85. The fair value is estimated to be PK₨78.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 18% in the next 2 years. Announcement • Feb 18
Kohat Cement Company Limited to Report Q2, 2026 Results on Feb 25, 2026 Kohat Cement Company Limited announced that they will report Q2, 2026 results on Feb 25, 2026 Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to PK₨122, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Basic Materials industry in Pakistan. Total returns to shareholders of 333% over the past three years. Reported Earnings • Oct 30
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: PK₨3.20 (down from PK₨3.51 in 1Q 2025). Revenue: PK₨10.3b (up 2.0% from 1Q 2025). Net income: PK₨2.94b (down 14% from 1Q 2025). Profit margin: 29% (down from 34% in 1Q 2025). Revenue missed analyst estimates by 6.1%. Earnings per share (EPS) exceeded analyst estimates by 11%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Basic Materials industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Sep 10
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: PK₨11.97 (up from PK₨9.06 in FY 2024). Revenue: PK₨37.5b (down 2.9% from FY 2024). Net income: PK₨11.6b (up 30% from FY 2024). Profit margin: 31% (up from 23% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 5.4%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Basic Materials industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 09
Kohat Cement Company Limited, Annual General Meeting, Oct 13, 2025 Kohat Cement Company Limited, Annual General Meeting, Oct 13, 2025. Location: at registered office, kohat cement factory, pindi road, kohat.-, Pakistan Price Target Changed • Sep 04
Price target increased by 9.8% to PK₨115 Up from PK₨105, the current price target is an average from 5 analysts. New target price is 12% above last closing price of PK₨103. Stock is up 78% over the past year. The company is forecast to post earnings per share of PK₨12.62 for next year compared to PK₨9.05 last year. New Risk • Aug 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: PK₨19.9b (US$70.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨550, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Basic Materials industry in Asia. Total returns to shareholders of 287% over the past three years. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨455, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Basic Materials industry in Pakistan. Total returns to shareholders of 240% over the past three years. Buy Or Sell Opportunity • Jun 23
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.8% to PK₨363. The fair value is estimated to be PK₨469, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 31%. Buy Or Sell Opportunity • Jun 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.5% to PK₨373. The fair value is estimated to be PK₨467, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 31%. Buy Or Sell Opportunity • May 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.6% to PK₨338. The fair value is estimated to be PK₨429, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 31%. Reported Earnings • May 02
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: PK₨11.93 (up from PK₨10.51 in 3Q 2024). Revenue: PK₨8.15b (down 4.2% from 3Q 2024). Net income: PK₨2.34b (up 14% from 3Q 2024). Profit margin: 29% (up from 24% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 5.8%. Earnings per share (EPS) also missed analyst estimates by 6.8%. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 32% per year. Reported Earnings • Feb 26
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: PK₨17.59 (up from PK₨11.35 in 2Q 2024). Revenue: PK₨10.6b (up 1.8% from 2Q 2024). Net income: PK₨3.45b (up 55% from 2Q 2024). Profit margin: 33% (up from 21% in 2Q 2024). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to PK₨431, the stock trades at a trailing P/E ratio of 8.3x. Average forward P/E is 7x in the Basic Materials industry in Pakistan. Total returns to shareholders of 148% over the past three years. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨432, the stock trades at a trailing P/E ratio of 8.4x. Average forward P/E is 16x in the Basic Materials industry in Pakistan. Total returns to shareholders of 126% over the past three years. Reported Earnings • Oct 27
First quarter 2025 earnings released: EPS: PK₨17.56 (vs PK₨11.25 in 1Q 2024) First quarter 2025 results: EPS: PK₨17.56 (up from PK₨11.25 in 1Q 2024). Revenue: PK₨10.1b (down 8.9% from 1Q 2024). Net income: PK₨3.44b (up 54% from 1Q 2024). Profit margin: 34% (up from 20% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 28% per year. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to PK₨352, the stock trades at a trailing P/E ratio of 7.7x. Average forward P/E is 6x in the Basic Materials industry in Pakistan. Total returns to shareholders of 97% over the past three years. Reported Earnings • Sep 07
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: PK₨45.27 (up from PK₨28.98 in FY 2023). Revenue: PK₨38.6b (flat on FY 2023). Net income: PK₨8.89b (up 53% from FY 2023). Profit margin: 23% (up from 15% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.7%. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 18% per year. Announcement • Sep 06
Kohat Cement Company Limited, Annual General Meeting, Oct 15, 2024 Kohat Cement Company Limited, Annual General Meeting, Oct 15, 2024. Location: at registered office, kohat cement factory, pindi road, kohat Pakistan Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨289, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 5x in the Basic Materials industry in Pakistan. Total returns to shareholders of 55% over the past three years. Price Target Changed • Jun 04
Price target increased by 8.1% to PK₨305 Up from PK₨282, the current price target is an average from 4 analysts. New target price is 41% above last closing price of PK₨216. Stock is up 28% over the past year. The company is forecast to post earnings per share of PK₨38.60 for next year compared to PK₨28.98 last year. Reported Earnings • May 01
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: PK₨10.51 (up from PK₨8.08 in 3Q 2023). Revenue: PK₨8.51b (down 15% from 3Q 2023). Net income: PK₨2.06b (up 27% from 3Q 2023). Profit margin: 24% (up from 16% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.9%. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 28
Second quarter 2024 earnings released: EPS: PK₨11.35 (vs PK₨9.73 in 2Q 2023) Second quarter 2024 results: EPS: PK₨11.35 (up from PK₨9.73 in 2Q 2023). Revenue: PK₨10.4b (down 5.1% from 2Q 2023). Net income: PK₨2.22b (up 14% from 2Q 2023). Profit margin: 21% (up from 18% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 01
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to PK₨220. The fair value is estimated to be PK₨181, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Jan 27
Kohat Cement Company Limited Announces Company Secretary Changes Kohat Cement Company Limited has announced a significant change in its executive team. Effective from January 26, 2024, Mr. Muhammad Ahsan Yousaf has ceased to serve as the Company Secretary. He will be succeeded by Ms. Iqra Khalid, who has been appointed as the new Company Secretary. This change marks a transition in the company's administrative leadership. The role of the Company Secretary is pivotal in ensuring regulatory compliance and effective corporate governance. Ms. Iqra Khalid's appointment represents a new chapter in the company's drive for continued adherence to corporate best practices and regulatory standards. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to PK₨237, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 5x in the Basic Materials industry in Pakistan. Total returns to shareholders of 9.6% over the past three years. Announcement • Dec 23
Kohat Cement Company Limited Announces Change in Company Secretary Kohat Cement Company Limited has announced a significant change in its management structure. The company informed that Mr. Muhammad Asadullah Khan, who served as the Company Secretary, has ceased to hold the position effective December 22, 2023. Following this development, Mr. Muhammad Ahsan Yousaf has been appointed as the new Company Secretary of Kohat Cement Company Limited. The change marks a new phase in the company's administrative leadership. Price Target Changed • Nov 28
Price target increased by 13% to PK₨269 Up from PK₨238, the current price target is an average from 3 analysts. New target price is 24% above last closing price of PK₨216. Stock is up 37% over the past year. The company is forecast to post earnings per share of PK₨39.15 for next year compared to PK₨28.98 last year. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨213, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 4x in the Basic Materials industry in Pakistan. Negligible returns to shareholders over past three years. Reported Earnings • Nov 02
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: PK₨11.25 (up from PK₨8.89 in 1Q 2023). Revenue: PK₨11.1b (up 25% from 1Q 2023). Net income: PK₨2.23b (up 25% from 1Q 2023). Profit margin: 20% (in line with 1Q 2023). Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Basic Materials industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Major Estimate Revision • Nov 01
Consensus EPS estimates increase by 57% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from PK₨29.60 to PK₨46.60. Revenue forecast unchanged at PK₨37.1b. Net income forecast to shrink 29% next year vs 29% decline forecast for Basic Materials industry in Pakistan. Consensus price target broadly unchanged at PK₨222. Share price fell 3.7% to PK₨179 over the past week. Reported Earnings • Sep 26
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: PK₨28.98 (up from PK₨25.01 in FY 2022). Revenue: PK₨38.9b (up 18% from FY 2022). Net income: PK₨5.82b (up 16% from FY 2022). Profit margin: 15% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.4%. Revenue is forecast to grow 9.3% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Basic Materials industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Price Target Changed • Sep 01
Price target increased by 7.8% to PK₨216 Up from PK₨201, the current price target is an average from 7 analysts. New target price is 41% above last closing price of PK₨154. Stock is down 5.6% over the past year. The company is forecast to post earnings per share of PK₨31.64 for next year compared to PK₨25.01 last year. Reported Earnings • Apr 30
Third quarter 2023 earnings: EPS misses analyst expectations Third quarter 2023 results: EPS: PK₨8.08 (down from PK₨8.19 in 3Q 2022). Revenue: PK₨10.0b (up 17% from 3Q 2022). Net income: PK₨1.62b (down 1.3% from 3Q 2022). Profit margin: 16% (down from 19% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.8%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Basic Materials industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨147, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 4x in the Basic Materials industry in Pakistan. Total returns to shareholders of 45% over the past three years. Reported Earnings • Feb 20
Second quarter 2023 earnings: EPS exceeds analyst expectations Second quarter 2023 results: EPS: PK₨9.73 (up from PK₨7.90 in 2Q 2022). Revenue: PK₨11.0b (up 34% from 2Q 2022). Net income: PK₨1.95b (up 23% from 2Q 2022). Profit margin: 18% (down from 19% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Basic Materials industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to PK₨144, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 4x in the Basic Materials industry in Pakistan. Total returns to shareholders of 62% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨241 per share. Price Target Changed • Dec 19
Price target increased to PK₨209 Up from PK₨187, the current price target is an average from 5 analysts. New target price is 36% above last closing price of PK₨154. Stock is down 14% over the past year. The company is forecast to post earnings per share of PK₨31.70 for next year compared to PK₨25.01 last year. Price Target Changed • Nov 16
Price target decreased to PK₨187 Down from PK₨202, the current price target is an average from 5 analysts. New target price is 15% above last closing price of PK₨163. Stock is down 9.4% over the past year. The company is forecast to post earnings per share of PK₨22.70 for next year compared to PK₨25.01 last year. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). Non Executive Independent Director Ahmad Khan was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Oct 28
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from PK₨39.5b to PK₨40.1b. EPS estimate fell from PK₨26.73 to PK₨22.70 per share. Net income forecast to shrink 9.4% next year vs 5.6% decline forecast for Basic Materials industry in Pakistan. Consensus price target of PK₨186 unchanged from last update. Share price fell 4.8% to PK₨157 over the past week. Reported Earnings • Oct 07
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: PK₨25.01 (up from PK₨17.41 in FY 2021). Revenue: PK₨32.9b (up 37% from FY 2021). Net income: PK₨5.02b (up 44% from FY 2021). Profit margin: 15% (in line with FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.3%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Basic Materials industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 16% share price gain to PK₨147, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 4x in the Basic Materials industry in Pakistan. Total returns to shareholders of 254% over the past three years. Price Target Changed • May 24
Price target decreased to PK₨233 Down from PK₨252, the current price target is an average from 3 analysts. New target price is 70% above last closing price of PK₨137. Stock is down 33% over the past year. The company is forecast to post earnings per share of PK₨30.20 for next year compared to PK₨17.41 last year. Reported Earnings • May 01
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: PK₨8.19 (up from PK₨5.27 in 3Q 2021). Revenue: PK₨8.57b (up 28% from 3Q 2021). Net income: PK₨1.65b (up 55% from 3Q 2021). Profit margin: 19% (up from 16% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates by 8.8%. Over the next year, revenue is forecast to grow 21%, compared to a 33% growth forecast for the industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 2 independent directors. 6 non-independent directors. Non Executive Independent Director Ahmad Khan was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Feb 19
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: PK₨7.90 (up from PK₨4.81 in 2Q 2021). Revenue: PK₨8.21b (up 38% from 2Q 2021). Net income: PK₨1.59b (up 64% from 2Q 2021). Profit margin: 19% (up from 16% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) exceeded analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 27%, compared to a 43% growth forecast for the industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 24% per year. Buying Opportunity • Feb 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 4.9%. The fair value is estimated to be PK₨220, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Price Target Changed • Jan 06
Price target decreased to PK₨260 Down from PK₨286, the current price target is an average from 4 analysts. New target price is 42% above last closing price of PK₨183. Stock is down 15% over the past year. The company is forecast to post earnings per share of PK₨25.05 for next year compared to PK₨17.41 last year. Reported Earnings • Oct 23
First quarter 2022 earnings released: EPS PK₨6.96 (vs PK₨2.52 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: PK₨6.80b (up 32% from 1Q 2021). Net income: PK₨1.40b (up 176% from 1Q 2021). Profit margin: 21% (up from 9.8% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Sep 01
Full year 2021 earnings released: EPS PK₨17.41 (vs PK₨2.21 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: PK₨24.1b (up 113% from FY 2020). Net income: PK₨3.50b (up PK₨3.94b from FY 2020). Profit margin: 14% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Reported Earnings • Apr 29
Third quarter 2021 earnings released: EPS PK₨5.27 (vs PK₨1.90 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: PK₨6.71b (up 163% from 3Q 2020). Net income: PK₨1.06b (up PK₨1.44b from 3Q 2020). Profit margin: 16% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Reported Earnings • Apr 14
Third quarter 2021 earnings released: EPS PK₨5.27 (vs PK₨1.90 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: PK₨6.71b (up 163% from 3Q 2020). Net income: PK₨1.06b (up PK₨1.44b from 3Q 2020). Profit margin: 16% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 09
New 90-day low: PK₨206 The company is down 6.0% from its price of PK₨220 on 09 December 2020. The Pakistani market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is PK₨73.95 per share. Reported Earnings • Feb 18
Second quarter 2021 earnings released: EPS PK₨4.81 (vs PK₨0.05 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: PK₨5.93b (up 96% from 2Q 2020). Net income: PK₨965.3m (up PK₨955.7m from 2Q 2020). Profit margin: 16% (up from 0.3% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 18
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 22%. Price Target Changed • Feb 17
Price target raised to PK₨226 Up from PK₨207, the current price target is an average from 2 analysts. The new target price is 7.2% below the current share price of PK₨244. As of last close, the stock is up 166% over the past year. Is New 90 Day High Low • Feb 10
New 90-day high: PK₨227 The company is up 7.0% from its price of PK₨213 on 12 November 2020. The Pakistani market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is PK₨160 per share. Price Target Changed • Feb 04
Price target raised to PK₨208 Up from PK₨194, the current price target is an average from 3 analysts. The new target price is close to the current share price of PK₨218. As of last close, the stock is up 156% over the past year. Is New 90 Day High Low • Dec 12
New 90-day high: PK₨225 The company is up 10.0% from its price of PK₨204 on 11 September 2020. The Pakistani market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is PK₨161 per share. Reported Earnings • Oct 28
First quarter earnings released Over the last 12 months the company has reported total losses of PK₨24.8m, with earnings decreasing by PK₨2.04b from the prior year. Total revenue was PK₨13.5b over the last 12 months, down 11% from the prior year. Is New 90 Day High Low • Oct 23
New 90-day high: PK₨207 The company is up 40% from its price of PK₨149 on 24 July 2020. The Pakistani market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is PK₨120 per share. Analyst Estimate Surprise Post Earnings • Oct 09
Annual earnings released: Earnings beat expectations, revenue disappoints Annual revenue missed analyst estimates by 3.0% at PK₨11.3b. Earnings per share (EPS) exceeded analyst estimates by 14% at -PK₨2.21. Revenue is forecast to grow 61% over the next year, compared to a 24% growth forecast for the Basic Materials industry in Pakistan. Reported Earnings • Oct 09
Full year earnings released - PK₨2.21 loss per share Over the last 12 months the company has reported total losses of PK₨443.7m, with earnings decreasing by PK₨2.91b from the prior year. Total revenue was PK₨11.3b over the last 12 months, down 28% from the prior year. Announcement • Oct 08
Kohat Cement Company Limited Announces Not to Recommend Dividend for the Year 2020 The Board of Directors of Kohat Cement Company Limited in their meeting held on 30 September 2020 has proposed nil compared to 25% final cash
dividend a year ago and of PKR nil compared to PKR 2.5 per ordinary share a year ago, for approval of members at annual general meeting to be held on 28 October 2020. Reported Earnings • Oct 01
Full year earnings released - PK₨2.21 loss per share Over the last 12 months the company has reported total losses of PK₨443.7m, with earnings decreasing by PK₨2.91b from the prior year. Total revenue was PK₨11.3b over the last 12 months, down 28% from the prior year.