Thatta Cement informed the Pakistan Stock Exchange Limited (PSX) on 3 February about its financial results for the half-year ended 31 December 2024. The company earned a profit after tax of PKR1.12bn (US$4m), compared to PKR358m posted in the comparative period. The company’s sales revenue increased by 23.23 per cent in value terms, mainly due to an appreciation in local cement sales due to a better market penetration strategy.
The cost-to-sales ratio decreased to 68.79 per cent during the period, compared to 78.84 per cent during the corresponding period last year. The company’s transition to cheaper domestic coal sources is the primary factor contributing to the reduction.
The company said its performance improved considerably during this period, as local cement dispatches increased by 12.28 per cent compared to last year. The company achieved 73.55 per cent of its overall clinker production capacity by producing 198,592t of clinker, compared to 54.57 per cent capacity utilisation with clinker production of 147,345t in the same period last year.
The notification adds that during the period under review, the company’s local sales increased by 12.28 per cent in volume compared to last year’s corresponding period. Due to a substantial increase in the retention price, sales revenue increased by 23.23 per cent.
The company has made notable progress in embracing renewable energy technologies. It has successfully installed a 5MW solar power plant that generates clean electricity from solar energy. In addition, it has launched a wind power generation project with a capacity of 4.8 MW, which is expected to be completed in the third quarter of the 2024-25 financial year.
In addition, the company has successfully installed a pre-crushing system for the cement mills. A 150tph impact crusher, procured from Sinoma-Liyang Heavy Machinery Co Ltd, was acquired to enhance mill production, increase dispatch volumes, and reduce power consumption. Since becoming operational on 15 January 2025, the clinker crusher has significantly increased the mills’ grinding capacity, increasing cement production. Additionally, power consumption has been notably reduced.
By Abdul Rab Siddiqi, Pakistan
