Fauji Cement Profit For 2022:
Fauji Cement Company Limited, one of the largest cement makers, has released its financial results for the fiscal year ending June 30, 2022, The company’s profit was Rs. 4.416 billion, up from Rs. 3.469 billion in the same time previous year.
As a result of the outcome, FCCL announced a 12.5 percent bonus issuance of 273 million shares (12.5 shares for every 100 ordinary shares).
In addition, the firm has announced the combined earnings of FCCL and Askari Cement Limited (ACL), with per-share earnings computed on the new number of shares after the merger, i.e., 2.2 billion shares.
Arif Habib Limited Report On Fauji Cement:
According to a report by Arif Habib Limited, the preceding profit are for Fauji Cement, therefore a comparison cannot be made until Askari Cement’s 2022 public reports are available.
The company’s net sales increased to Rs. 54.24 billion in FY22, up from Rs. 24.27 billion in the same time last year, as FCCL and ACL sold a combined 5,656,000 tons.
Despite a 19 percent drop in dispatches compared to 6,974,000 tons sold last year, a solid increase in retention prices in North brought income to the business, according to a research by Arif Habib Securities.
Gross margins in FY22 were 27 percent, which is similar to our predicted margins for FCCL, showing that both FCCL and ACL were able to offset cost headwinds such as increased coal costs, PKR devaluation, and higher energy tariffs by raising cement prices throughout the review period.
FCCL also reported effective taxes of 38 percent in FY22 due to the impact of super tax and deferred tax liabilities.
The company’s finance cost has climbed to Rs. 1.2 billion, with ACL accounting for the majority of the cost (FCCL’s finance cost was Rs. 76 million in 9MFY22). Furthermore, the effective exchange rate in FY22 was 62 percent, up from 47 percent in FY21.
In FY22, the company’s earnings per share were Rs. 3.26, up from Rs. 1.59.