Kohat Cement (KOHC) held its corporate briefing session last week to review its operational and financial performance in FY24. The company reported an earnings per share (EPS) of PKR45.41 (US$0.16) for the year, up 21 per cent YoY. This was driven by lower fuel costs, higher retention prices, and elevated interest rates, which resulted in healthy other income due to the firm’s healthy cash balance, as observed by IMS Research.
Total dispatches were 2.6Mt, reflecting a 13.8 per cent decline year over year and 52 per cent capacity utilisation. Domestic sales accounted for 98 per cent of the sales.
The 6MW solar power plant is expected to come online by the end of 2QFY25, and additional land is being procured to install the remaining 4MW. The 30MW coal power plant is expected to cost over PKR10bn and will be installed and commissioned in 18 months.
KOHC has incurred a capital expenditure of PKR700-800m at the Khushab greenfield site for land acquisition and utility connections. Once the demand outlook improves, the import of plant and machinery will commence.
By Abdul Ram Siddiqi, Pakistan
