Cherat Cement has commissioned a 6.065MW solar power plant in Khyber Pakhtunkhwa (KPK), Pakistan, according to an announcement on 3 April 2025. The project's total capacity is approximately 9MW, with an additional 2.935MW expected to come online during the current financial year. This will contribute to the company's captive power generation capacity.
1HFY24-25 results
In its recently released financial report for 1HFY24-25, Cherat Cement reported that its sales revenue remains roughly the same as in the previous year. Local revenue has increased by three per cent while export revenue has decreased by 23 per cent. The cost of sales has also reduced by eight per cent, attributed to a 12 per cent decline in clinker production and a 10 per cent decline in cement production compared to last year.
The company experienced a significant decrease in finance costs of 53 per cent due to both scheduled and early repayments of long-term loans made in the previous financial year. Other income has risen due to improved liquidity. Additionally, the company recorded a tax credit of PKR721m based on a recent Supreme Court order, as per Section 65B of the Income Tax Ordinance, 2001. Consequently, the company reported an after-tax profit of PKR 5.148bn for the half-year ended 31 December 2024.
In quantitative terms, the company’s total sales volume decreased by 10 per cent, with domestic sales down 16 per cent and exports up 23 per cent compared to the same period in the previous year. The company sold 1.24Mt during this period.
by Abdul Rab Siddiqi, Pakistan
