Dandot Cement releases financial statement

Dandot Cement Company Ltd has issued its 44th Annual Report and audited financial statements for the year ending 30 June, 2024. For the year under review, the company produced 182,701t of clinker, 173,740t of cement and 172,012t of sales.

The company recorded gross sales of PKR3.44bn (US$12.39m) and net sales of PKR2.46bn, both compared to PKRNil the year previous. The net profit amounted to PKR20.43m where in 2023 the company saw a net loss of PKR367.44m.

The company completed its Balancing, Modernisation, and Replacement (BMR) activities and commenced operations in January of this year. The numbers above reflect production for six months out of the year, as production started in January 2024. However, administrative expenses, depreciation and finance costs were incurred for the entire year, therefore, there was a pre-tax operational loss. The company operates profitably due to streamlined manufacturing processes, a designed coal mix and optimum production levels.

Upon the commencement of operations after BMR, the management will actively work on various options to enhance the cement mill and install a waste heat recovery plant. This initiative aims to reduce production costs through decreased electricity consumption, increased process reliability, and improved sustainability. To support this endeavour, the company has approached various investors and financial institutions to raise fresh capital to finance this project.