New Risk • Jun 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 9.0% 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. This is currently the only risk that has been identified for the company. Reported Earnings • May 05
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: EPS: PK₨7.24 (down from PK₨8.67 in 3Q 2025). Revenue: PK₨7.88b (up 1.5% from 3Q 2025). Net income: PK₨1.41b (down 17% from 3Q 2025). Profit margin: 18% (down from 22% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 11%. 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 21% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Apr 18
Cherat Cement Company Limited to Report Q3, 2026 Results on Apr 28, 2026 Cherat Cement Company Limited announced that they will report Q3, 2026 results on Apr 28, 2026 Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to PK₨294, 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 183% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨257 per share. Reported Earnings • Feb 23
Second quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2026 results: EPS: PK₨10.37 (down from PK₨11.69 in 2Q 2025). Revenue: PK₨9.42b (down 12% from 2Q 2025). Net income: PK₨2.01b (down 11% from 2Q 2025). Profit margin: 21% (in line with 2Q 2025). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 5.3%. Revenue is forecast to grow 14% p.a. on average during the next 2 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 22% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Feb 21
Dividend of PK₨1.50 announced Dividend of PK₨1.50 is the same as last year. Ex-date: 27th February 2026 Payment date: 24th March 2026 Dividend yield will be 1.8%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 7.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Feb 19
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from PK₨43.89 to PK₨37.49. Revenue forecast unchanged from PK₨43.3b at last update. Net income forecast to grow 17% next year vs 18% growth forecast for Basic Materials industry in Pakistan. Consensus price target of PK₨463 unchanged from last update. Share price fell 3.4% to PK₨299 over the past week. Tillkännagivande • Feb 11
Cherat Cement Company Limited to Report Q2, 2026 Results on Feb 18, 2026 Cherat Cement Company Limited announced that they will report Q2, 2026 results on Feb 18, 2026 Price Target Changed • Dec 02
Price target increased by 7.2% to PK₨442 Up from PK₨412, the current price target is an average from 4 analysts. New target price is 32% above last closing price of PK₨335. Stock is up 14% over the past year. The company is forecast to post earnings per share of PK₨43.49 for next year compared to PK₨44.68 last year. Buy Or Sell Opportunity • Nov 13
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 7.1% to PK₨339. The fair value is estimated to be PK₨264, 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 22%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. Reported Earnings • Oct 29
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: PK₨10.79 (down from PK₨14.81 in 1Q 2025). Revenue: PK₨10.3b (up 6.5% from 1Q 2025). Net income: PK₨2.10b (down 27% from 1Q 2025). Profit margin: 20% (down from 30% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.5%. 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 22% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Sep 24
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: PK₨44.68 (up from PK₨28.31 in FY 2024). Revenue: PK₨37.8b (down 1.6% from FY 2024). Net income: PK₨8.68b (up 58% from FY 2024). Profit margin: 23% (up from 14% in FY 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.5%. 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 21% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 23
Upcoming dividend of PK₨4.00 per share Eligible shareholders must have bought the stock before 30 September 2025. Payment date: 23 October 2025. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Pakistani dividend payers (7.4%). Lower than average of industry peers (2.7%). Tillkännagivande • Aug 22
Cherat Cement Company Limited, Annual General Meeting, Oct 09, 2025 Cherat Cement Company Limited, Annual General Meeting, Oct 09, 2025. Location: at factory premises, village lakrai, nowshera, khyber, pakhtunkhwa Pakistan Buy Or Sell Opportunity • Aug 21
Now 21% undervalued Over the last 90 days, the stock has risen 24% to PK₨326. The fair value is estimated to be PK₨415, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has grown by 17%. Price Target Changed • May 04
Price target increased by 10% to PK₨327 Up from PK₨296, the current price target is an average from 3 analysts. New target price is 25% above last closing price of PK₨262. Stock is up 61% over the past year. The company is forecast to post earnings per share of PK₨38.90 for next year compared to PK₨28.31 last year. Reported Earnings • Mar 01
Second quarter 2025 earnings released: EPS: PK₨11.69 (vs PK₨9.62 in 2Q 2024) Second quarter 2025 results: EPS: PK₨11.69 (up from PK₨9.62 in 2Q 2024). Revenue: PK₨10.6b (up 4.1% from 2Q 2024). Net income: PK₨2.27b (up 22% from 2Q 2024). Profit margin: 21% (up from 18% in 2Q 2024). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jan 21
Price target increased by 21% to PK₨253 Up from PK₨209, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of PK₨257. Stock is up 70% over the past year. The company is forecast to post earnings per share of PK₨32.02 for next year compared to PK₨28.31 last year. New Risk • Jan 04
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 8.7% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨295, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 16x in the Basic Materials industry in Asia. Total returns to shareholders of 138% over the past three years. Reported Earnings • Oct 31
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: PK₨14.81 (up from PK₨7.89 in 1Q 2024). Revenue: PK₨9.66b (down 4.1% from 1Q 2024). Net income: PK₨2.88b (up 88% from 1Q 2024). Profit margin: 30% (up from 15% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 6.8%. Earnings per share (EPS) also surpassed analyst estimates by 129%. Revenue is forecast to grow 13% p.a. on average during the next 2 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 10% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to PK₨206, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Basic Materials industry in Pakistan. Total returns to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨110 per share. Upcoming Dividend • Sep 30
Upcoming dividend of PK₨4.00 per share Eligible shareholders must have bought the stock before 07 October 2024. Payment date: 06 November 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Pakistani dividend payers (12%). Lower than average of industry peers (5.2%). Reported Earnings • Sep 29
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: PK₨28.31 (up from PK₨22.67 in FY 2023). Revenue: PK₨38.4b (up 2.8% from FY 2023). Net income: PK₨5.50b (up 25% from FY 2023). Profit margin: 14% (up from 12% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.4%. Revenue is forecast to grow 11% p.a. on average during the next 2 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 9% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • Aug 28
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: PK₨28.31 (up from PK₨22.67 in FY 2023). Revenue: PK₨38.4b (up 2.8% from FY 2023). Net income: PK₨5.50b (up 25% from FY 2023). Profit margin: 14% (up from 12% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.4%. Revenue is forecast to grow 11% p.a. on average during the next 2 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 9% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Tillkännagivande • Aug 23
Cherat Cement Company Limited, Annual General Meeting, Oct 16, 2024 Cherat Cement Company Limited, Annual General Meeting, Oct 16, 2024. Location: at the registered office of the company, at factory premises,village lakrai, nowshera, khyber pakhtunkhwa Pakistan Tillkännagivande • Jul 04
Cherat Cement Company Limited Announces Executive Changes Cherat Cement Company Limited has appointed Mr. Asim Hamid as the new Company Secretary, effective July 1, 2024. He replaces Ms. Natasha Bharucha in this key administrative role. The change is part of routine corporate governance adjustments. Mr. Asim Hamid will be taking over responsibilities including compliance and coordination with the TRE Certificate Holders of the Exchange. Reported Earnings • May 04
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: PK₨6.40 (down from PK₨6.55 in 3Q 2023). Revenue: PK₨8.64b (down 7.1% from 3Q 2023). Net income: PK₨1.24b (down 2.2% from 3Q 2023). Profit margin: 14% (in line with 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Basic Materials industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 25
Price target increased by 7.3% to PK₨208 Up from PK₨194, the current price target is an average from 4 analysts. New target price is 26% above last closing price of PK₨166. Stock is up 42% over the past year. The company is forecast to post earnings per share of PK₨31.41 for next year compared to PK₨22.67 last year. Reported Earnings • Feb 22
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: PK₨9.62 (up from PK₨8.01 in 2Q 2023). Revenue: PK₨10.2b (down 1.8% from 2Q 2023). Net income: PK₨1.87b (up 20% from 2Q 2023). Profit margin: 18% (up from 15% in 2Q 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 14%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Basic Materials industry in Asia. 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 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 19
Upcoming dividend of PK₨1.50 per share Eligible shareholders must have bought the stock before 26 February 2024. Payment date: 24 April 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of Pakistani dividend payers (14%). Lower than average of industry peers (5.3%). Price Target Changed • Nov 28
Price target increased by 13% to PK₨177 Up from PK₨156, the current price target is an average from 3 analysts. New target price is 15% above last closing price of PK₨154. Stock is up 33% over the past year. The company is forecast to post earnings per share of PK₨34.70 for next year compared to PK₨22.67 last year. Reported Earnings • Nov 04
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: PK₨7.89 (up from PK₨7.63 in 1Q 2023). Revenue: PK₨10.1b (up 11% from 1Q 2023). Net income: PK₨1.53b (up 3.4% from 1Q 2023). Profit margin: 15% (down from 16% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 18%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Basic Materials 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 2% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Oct 24
Consensus EPS estimates increase by 72% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from PK₨20.18 to PK₨34.70. Revenue forecast unchanged at PK₨30.0b. Net income forecast to shrink 51% next year vs 29% decline forecast for Basic Materials industry in Pakistan. Consensus price target broadly unchanged at PK₨155. Share price was steady at PK₨138 over the past week. Upcoming Dividend • Oct 09
Upcoming dividend of PK₨3.00 per share at 4.4% yield Eligible shareholders must have bought the stock before 16 October 2023. Payment date: 15 November 2023. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Pakistani dividend payers (13%). Lower than average of industry peers (6.3%). Upcoming Dividend • May 02
Upcoming dividend of PK₨1.50 per share at 2.6% yield Eligible shareholders must have bought the stock before 09 May 2023. Payment date: 01 June 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Pakistani dividend payers (13%). In line with average of industry peers (2.6%). Reported Earnings • Apr 30
Third quarter 2023 earnings: EPS misses analyst expectations Third quarter 2023 results: EPS: PK₨6.55 (up from PK₨5.48 in 3Q 2022). Revenue: PK₨9.30b (up 19% from 3Q 2022). Net income: PK₨1.27b (up 19% from 3Q 2022). Profit margin: 14% (in line with 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.5%. Revenue is forecast to grow 6.4% 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 82% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 16
Consensus EPS estimates increase by 25%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from PK₨37.4b to PK₨36.6b. EPS estimate rose from PK₨18.96 to PK₨23.67. Net income forecast to shrink 1.8% next year vs 4.1% growth forecast for Basic Materials industry in Pakistan . Consensus price target down from PK₨161 to PK₨150. Share price fell 6.5% to PK₨104 over the past week. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to PK₨84.96, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 4x in the Basic Materials industry in Pakistan. Total returns to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨49.63 per share. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Abrar Hasan was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 06
First quarter 2023 earnings released: EPS: PK₨7.63 (vs PK₨6.14 in 1Q 2022) First quarter 2023 results: EPS: PK₨7.63 (up from PK₨6.14 in 1Q 2022). Revenue: PK₨9.05b (up 26% from 1Q 2022). Net income: PK₨1.48b (up 24% from 1Q 2022). Profit margin: 16% (in line with 1Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 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 88% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 27
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: PK₨22.93 (up from PK₨16.50 in FY 2021). Revenue: PK₨32.1b (up 27% from FY 2021). Net income: PK₨4.46b (up 39% from FY 2021). Profit margin: 14% (up from 13% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.6%. Revenue is expected to decline by 4.4% p.a. on average during the next 2 years, while revenues in the Basic Materials industry in Pakistan are expected to grow by 13%. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 63% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 26
Upcoming dividend of PK₨3.00 per share Eligible shareholders must have bought the stock before 03 October 2022. Payment date: 02 November 2022. Payout ratio is a comfortable 5.5% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Pakistani dividend payers (11%). Lower than average of industry peers (7.8%). Price Target Changed • Sep 16
Price target decreased to PK₨158 Down from PK₨174, the current price target is an average from 2 analysts. New target price is 41% above last closing price of PK₨112. Stock is down 29% over the past year. The company is forecast to post earnings per share of PK₨21.12 for next year compared to PK₨16.50 last year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 24% share price gain to PK₨96.93, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 4x in the Basic Materials industry in Pakistan. Total returns to shareholders of 339% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨93.74 per share. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment deteriorated over the past week After last week's 18% share price decline to PK₨76.32, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 4x in the Basic Materials industry in Pakistan. Total returns to shareholders of 182% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨94.93 per share. Price Target Changed • May 24
Price target decreased to PK₨179 Down from PK₨195, the current price target is an average from 2 analysts. New target price is 67% above last closing price of PK₨107. Stock is down 41% over the past year. The company is forecast to post earnings per share of PK₨21.37 for next year compared to PK₨16.50 last year. Reported Earnings • May 01
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: PK₨5.48 (down from PK₨5.63 in 3Q 2021). Revenue: PK₨7.80b (up 14% from 3Q 2021). Net income: PK₨1.07b (down 2.6% from 3Q 2021). Profit margin: 14% (down from 16% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 100%. Earnings per share (EPS) exceeded analyst estimates by 1.5%. Over the next year, revenue is forecast to grow 28%, compared to a 33% growth forecast for the industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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. 3 independent directors (5 non-independent directors). Independent Director Abrar Hasan was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 05
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: PK₨6.06 (up from PK₨4.22 in 2Q 2021). Revenue: PK₨7.62b (up 20% from 2Q 2021). Net income: PK₨1.18b (up 44% from 2Q 2021). Profit margin: 16% (up from 13% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 10%. Over the next year, revenue is forecast to grow 28%, compared to a 41% growth forecast for the industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 31% per year. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improved over the past week After last week's 17% share price gain to PK₨143, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Basic Materials industry in Pakistan. Total returns to shareholders of 132% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨145 per share. Price Target Changed • Nov 15
Price target decreased to PK₨190 Down from PK₨205, the current price target is an average from 2 analysts. New target price is 29% above last closing price of PK₨147. Stock is up 12% over the past year. The company is forecast to post earnings per share of PK₨21.95 for next year compared to PK₨16.50 last year. Reported Earnings • Oct 28
First quarter 2022 earnings released: EPS PK₨6.14 (vs PK₨1.59 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: PK₨7.16b (up 37% from 1Q 2021). Net income: PK₨1.19b (up 286% from 1Q 2021). Profit margin: 17% (up from 5.9% 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 4% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 29
Upcoming dividend of PK₨1.25 per share Eligible shareholders must have bought the stock before 06 October 2021. Payment date: 08 November 2021. Trailing yield: 1.8%. Lower than top quartile of Pakistani dividend payers (10%). Lower than average of industry peers (6.3%). Reported Earnings • Sep 26
Full year 2021 earnings released: EPS PK₨16.50 (vs PK₨9.74 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₨25.2b (up 48% from FY 2020). Net income: PK₨3.21b (up PK₨5.10b from FY 2020). Profit margin: 13% (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 34% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Reported Earnings • Aug 27
Full year 2021 earnings released: EPS PK₨16.50 (vs PK₨9.74 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₨25.2b (up 48% from FY 2020). Net income: PK₨3.21b (up PK₨5.10b from FY 2020). Profit margin: 13% (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 34% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Reported Earnings • Apr 30
Third quarter 2021 earnings released: EPS PK₨5.63 (vs PK₨3.23 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₨6.83b (up 73% from 3Q 2020). Net income: PK₨1.09b (up PK₨1.72b 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, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Mar 03
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) exceeded analyst estimates by 47%. Over the next year, revenue is forecast to grow 47%, compared to a 58% growth forecast for the Basic Materials industry in Pakistan. Reported Earnings • Mar 03
Second quarter 2021 earnings released: EPS PK₨4.22 (vs PK₨1.14 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: PK₨6.37b (up 27% from 2Q 2020). Net income: PK₨819.5m (up PK₨1.04b from 2Q 2020). Profit margin: 13% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 87% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 12
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) exceeded analyst estimates by 42%. Over the next year, revenue is forecast to grow 42%, compared to a 49% growth forecast for the Basic Materials industry in Pakistan. Price Target Changed • Feb 11
Price target raised to PK₨160 Up from PK₨148, the current price target is an average from 3 analysts. The new target price is 13% below the current share price of PK₨183. As of last close, the stock is up 247% over the past year. Reported Earnings • Feb 11
Second quarter 2021 earnings released: EPS PK₨4.22 (vs PK₨1.14 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: PK₨6.37b (up 27% from 2Q 2020). Net income: PK₨819.5m (up PK₨1.04b from 2Q 2020). Profit margin: 13% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 87% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 10
New 90-day high: PK₨181 The company is up 39% from its price of PK₨130 on 12 November 2020. The Pakistani market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed 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₨109 per share. Price Target Changed • Jan 31
Price target raised to PK₨136 Up from PK₨120, the current price target is an average from 3 analysts. The new target price is 17% below the current share price of PK₨164. As of last close, the stock is up 184% over the past year. Is New 90 Day High Low • Jan 26
New 90-day high: PK₨151 The company is up 9.0% from its price of PK₨139 on 28 October 2020. The Pakistani market is also up 9.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Basic Materials industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is PK₨113 per share. Is New 90 Day High Low • Dec 24
New 90-day high: PK₨149 The company is up 16% from its price of PK₨128 on 25 September 2020. The Pakistani market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is PK₨146 per share. Price Target Changed • Nov 26
Price target raised to PK₨120 Up from PK₨111, the current price target is an average from 2 analysts. The new target price is close to the current share price of PK₨125. As of last close, the stock is up 144% over the past year. Is New 90 Day High Low • Oct 27
New 90-day high: PK₨146 The company is up 25% from its price of PK₨117 on 29 July 2020. The Pakistani market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Basic Materials industry, which is also up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is PK₨81.63 per share. Reported Earnings • Oct 24
First quarter earnings released Over the last 12 months the company has reported total losses of PK₨1.25b, with earnings decreasing by PK₨2.23b from the prior year. Total revenue was PK₨17.8b over the last 12 months, up 4.8% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 24
First-quarter earnings released: Revenue and earnings beat expectations First-quarter revenue exceeded analyst estimates by 2.1% at PK₨5.22b. Earnings per share (EPS) also surpassed analyst estimates by 436% at PK₨1.59. Revenue is forecast to grow 16% over the next year, compared to a 21% growth forecast for the Basic Materials industry in Pakistan. Reported Earnings • Oct 07
Full year earnings released - PK₨9.74 loss per share Over the last 12 months the company has reported total losses of PK₨1.89b, with earnings decreasing by PK₨3.65b from the prior year. Total revenue was PK₨17.1b over the last 12 months, up 7.7% from the prior year.