-----TABLE OF CONTENT -----

----------------------------------

- INTRODUCTION TO PAKISTAN STOCK

EXCHANGE (PSX)
- COMPANIES INTRODUCTION
- LUCK CEMENT LIMITED
a. Introduction
b. Financial Analysis
c. General Analysis
d. Financial Performance And Ratios
e. Dividend Payout History
f. Latest New About Company
g. Future Prospects
h. Product Life Cycle
i. Best Price To Purchase And Its Reason
j. Share Price History
k. Share Price History Graph
 PAKISTAN STOCK EXCHANGE
LIMITED (PSX):
Pakistan Stock Exchange was established on September 18, 1947 and
was formally incorporated on March 10, 1949 under the name of
‘Karachi Stock Exchange’, as a Company limited by Guarantee. In
October 1970, a second stock exchange was established in Lahore to
meet the stock trading needs of the provincial metropolis. In October
1989, Islamabad Stock Exchange was established to cater to the
investors of the northern parts of the country. Because the three
exchanges had separate management, trading interfaces, indices, and
had no mutualized structure, therefore the Stock Exchanges
(Corporatization, Demutualization and Integration) Act, 2012 was
promulgated by the Government of Pakistan which ultimately resulted
in the three exchanges integrating their operations effective January
11, 2016 under the new name ‘Pakistan Stock Exchange Limited’
(PSX)

PSX has made significant strides in its history, having a small

presence of 5 listed companies initially with a total paid-up
capital of Rs37 Million. In 1960 there were 81 companies
with a market capitalization of Rs1.8 Billion whereas now
there are 546* companies listed in the bourse with a market
capitalization of Rs7.692* Tn. The listed companies are
distributed amongst 35 sectors/ groups of industries.
*As of Dec 31, 2018.
 LUCKY CEMENT
LIMEITED
PSX SYMBOL: LUCKY

INTRODUCTION

Lucky Cement is one of the largest producers and leading exporters of

quality cement in Pakistan and is listed on the Pakistan Stock
Exchange (PSX). The company has also issued Global Depository
Receipts (GDRs), listed and traded on the Professional Securities
Market of the London Stock Exchange.
 OUR PRODUCTS
Lucky Cement greatly emphasizes in manufacturing
high quality product through stringent quality control
techniques and computerized control systems.

Quality of the cement has been tested and proven up to

the specifications mentioned in Pakistan, British,
Indian, Kenyan, Nigerian, South African and Sri
Lankan Standards.
REASONING FOR PURCHASE:

FINANCIAL ANALYSIS
PARTICULAR 1stQuarter 1stQuarter CHANGE
2020-2021 2019-2020
GROSS REVENUE 57851 34430 68%
NET REVENUE 45114 27180 66%
GP 8773 4344 102%
OP 5298 1478 258%
EBITDA 7469 3362 122%
NP(Attributable to 4349 1272 242%
owners’ of the
holding company)
EPS 13.45 3.93 242%

As compared to last year 1st quarter of company is very much profitable.

Earnings per share show the business growth of the company and strong
financial position of the company.

OTHER RESASON
- In Pakistan the must growing sector is construction sector and after
covid.19 pandemic construction sector is one of the sector which open
early.
- Prime minister announced construction package in September.
- Lucky cement is one of the well know cement company in Pakistan.
- Government provide loan on constructing house.
- PM Imran announced so many times about the growth of construction
sector as he say 2021 is the year of growth.
 LUCKY CEMENT
LIMITED FINANCIAL
PERFORMANCE

FINANCIAL UoM 2015 2016 2017 2018 2019 2020

RATIOS
PROFITABILITY RATI
OS
Gross Profit To % 45.09% 48.18% 46.62% 35.66% 29.12 14.51
Sales % %
Operating Cost Of % 64.00% 58.75% 59.35% 70.82% 79.07 97.16
Sales % %
Profit Before Tax % 35.55% 40.77% 41.10% 31.80% 25.45 9.12%
To Sale %
Net Profit After % 27.77% 28.68% 29.97% 25.66% 21.84 7.99%
Sale %
EBITA To Sale % 41.17% 46.95% 46.41% 35.52% 27.80 12.03
% %
Operating % 280.73 1841.56 (20.67 (623.6 (2728 688.4
Leverage % % %) %) %
%)
Return On Equity % 20.89% 18.72% 17.17% 13.99% 11.17 3.51%
After Tax %
Return On Capital % 22.70% 20.18% 18.73% 14.54% 11.67 3.62%
Employed %

LIQUIDITY RATI
 OS
Current ratio Time 3.64:1 4.10:1 4.48:1 1.42:1 1.42:1 0.98.1
Quick/acid test Time 2.75:1 3.31:1 3.67:1 2.12:1 0.95:1 0.65:1
ratio
Cash to current Time 2.21:1 2.79:1 3.26:1 1:80:1 0.66:1 0.65:1
liability
Net Profit After Time 2.75:1 3.31:1 3.67:1 0.36:1 0.95:1 0.12:1
Sale

ACTIVITY/TURN RATI
OVER OS
Inventory turnover Times 3.44 3.30 3.05 3.22 3.15 3.48
No. of days in Days 106.10 110.61 119.67 113.35 115.87 104.89
inventory
Debtor turnover Times 21.73 21.37 24.27 23.73 21.42 15.28
No. of days in Days 16.80 17.08 15.04 15.38 17.04 23.89
receivable
Credit turnover Times 4.69 3.13 2.74 2.73 2.11 1.86
No. of days in Days 77.83 116.61 133.21 133.70 172.99 196.24
payables
Operating cycle Days 45.07 11.08 1.50 (4.97) (40.08) (67.46
)
Total assets Times 0.61 0.53 0.47 0.44 0.38 0.31
turnover
Fixed asset Times 1.28 1.33 1.22 1.16 0.84 0.74
turnover

INVESTMENT RATI
VALUATION OS
Earnings per Rupees 38.44 40.03 42.34 37.72 .2.44 10.34
share after tax
Price/Earnings Times 13.52 16.20 19.75 13.47 11.73 44.64
ratio after tax
Dividend yield Percent 35.55% 40.77% 41.10% 31.80% 25.45% 9.12%
Dividend Percent 45.09% 48.18% 46.62% 35.66% 29.12% 14.51
payout %
ratio
Cash dividend Rupees 9 10 12 13 6.50 -
per share
Breakup value Rupees 183.25 214.37 246.73 267.8 297.67 306.71
per share
Market value Rupees 519.09 648.51 836.26 507.93 380.47 461.58
per share
Year high close Rupees 540.69 663.19 994.65 723.19 583.66 566.47
Year low close Rupees 330.09 448.88 644.71 445.80 344.27 310.30
 Price to book Percent 2.84 3.03 3.39 1.90 1.30 1.50
ratio

CAPITAL RATI
STRUCTURE OS
Financial Times 0.00:1 0.00:1 0.00:1 0.00:1 0.03:1 0.09:1
Leverage Ratio
Weight Average Percent 0.00% 0.00% 0.00% 0.00% 1.72% 3.11%
Cost Of Debt
Debt to equity Times 0.00:1 0.00:1 0.00:1 0.00:1 0.00:1 0.00:1
ratio
Interest Times - - - - 403.16 6.74
coverage ratio

LUCKY CEMENT LIMITED

DIVIDEND HISTORY PAYOUT

S No. Ex-Dividend Payment Dividend Yield

Date Date
 1 Aug 27,2020 Sep 24,2020 0.15 1.26%

2 Jul 26,2017 Aug 15,2017 0.6 7.21%

3 Jul 20,2016 Aug 19,2016 0.85 8.99%

4 Jul 15, 2015 Aug 07,2015 0.6 5.88%

LATEST NEWS ABOUT

LUCKY CEMENT

- Lucky Cement has won an award for use of modern technology to control
fire accidents and save lives at the Fire and Safety Awards 2020,
organized by the National Forum of Environment and Health.

- Lucky Cement’s earnings dropped 36.1% to Rs3.9 billion in the half year
ended December 31, 2019 as gross profit margins of the company have
recently been hit by pricing pressure.

FUTURE PROSPECTS OF
LUCKY CEMENT
The construction activity for setting up 660 MW super critical, lignite
coal-based power plant was moving as per Schedule before the
outbreak of Covid-19 in China with the targeted Commercial
Operation on 1st March, 2021. On 6th February 2020, the
Construction and Supply Contractors of the Company declared other
Force Majeure Event (FME) under the provisions of their respective
agreements due to outbreak of Covid-19 and notified that there is
possible risk of delay in Project implementation. On 27th March,
2020, the Company also received FME notice on the same account
from Central Power Purchasing Agency (CPPA) notifying possible
delay in provision of interconnection facility which is required to be
provided by CPPA not later than 120 days prior to Commercial
Operation Date. The precise assessment of FME on the project
commercial operation timeline could not be made at this stage as
FME is still in place

PRODUCT LIFE CYCLE OF LUCKY

CEMENT
FOR FUTURE PROSPECTS
Most products of lucky cement limited are in growth stage, the
Government of Pakistan concentrate highly on the sector of
construction, also announced so many packages. After considering all
these things the product life cycle of lucky cement for future
prospects most be in growth.
The star product of lucky cement are Lucky Star. OPC, Block
Cement. LBC, Lucky Gold. GOLD, Raj Cement. RAJ, these all
product will be very profitable for lucky cement in near future and
also have a chance of increase in demand.

PRICE TO PURCHASED LUCKY CEMENT

LIMITED SHARE
 - Best price to purchased lucky cement share is 620.

REASON:
- Lucky cement is one of the well know company of Pakistan and
also the current government of Pakistan highly focused
construction sector already announced so many packages for
construction sector. After covid-19 pandemic there is a high
chance of growth in the construction sector which directly
increase the growth rate of company which produce raw
material and lucky cement is one of those companies, those how
are well known in raw material market
SHARE VALUE HISTORY OF LUCKY CEMENT
LIMITED
QUANTIT
DATE Y PRICE INVESMENT GAIN/(LOSS) REMARKS
30-Sep-20 772 648 500256 0  Purchased
 Holding due to covid-19
01-Oct-20 772 646 498712 (1544) pandemic
02-Oct-20 772 636 490992 (9264)  -----

05-Oct-20 772 631 487132 (13124)  Hold due to chance of growth.

06-Oct-20 772 630 486360 (13896)  
07-Oct-20 772 648 500256 0  
08-Oct-20 772 657 507204 6948  
09-Oct-20 772 654 504888 4632 Hold due to loan provided on
12-Oct-20 772 647 499484 (772) Building on house on low
13-Oct-20 772 647 499484 (772) Interest.
14-Oct-20 772 647 499484 (772)  
15-Oct-20 772 642 495624 (4632)  
16-Oct-20 772 638 492536 (7720)  
19-Oct-20 772 637 491764 (8492)  
20-Oct-20 772 654 504888 4632  
21-Oct-20 772 657 507204 6948  
22-Oct-20 772 649 501028 772  
23-Oct-20 772 660 509520 9264  
26-Oct-20 772 706 545032 44776  
27-Oct-20 772 694 535768 35512  
28-Oct-20 772 682 526504 26248  
29-Oct-20 772 673 519556 19300  
02-Nov-20 772 659 508748 8492  
03-Nov-20 772 679 524188 23932  
04-Nov-20 772 675 521100 20844  
05-Nov-20 772 686 529592 29336  
06-Nov-20 772 682 526504 26248  
09-Nov-20 772 675 521100 20844  
10-Nov-20 772 674 520328 20072
11-Nov-20 772 664 512608 12352  
12-Nov-20 772 655 505660 5404  
13-Nov-20 772 659 508748 8492  
16-Nov-20 772 653 504116 3860  
17-Nov-20 772 658 507976 7720  
18-Nov-20 772 654 504888 4632  
19-Nov-20 772 658 507976 7720  
20-Nov-20 772 650 501800 1544  
23-Nov-20 772 647 499484 (772) Hold due to chance of
24-Nov-20 772 653 504116 3860 growth in after
25-Nov-20 772 648 500256 0 normality in covid-19
26-Nov-20 772 654 504888 4632 Situation.
27-Nov-20 772 648 500256 0  
30-Nov-20 772 654 504888 4632  
01-Dec-20 772 660 509520 9264  
02-Dec-20 772 667 514924 14668  
03-Dec-20 772 673 519556 19300  
04-Dec-20 772 673 519556 19300  
07-Dec-20 772 670 517240 16984  
08-Dec-20 772 670 517240 16984  
09-Dec-20 772 672 518784 18528  
10-Dec-20 772 672 518784 18528  
11-Dec-20 772 679 524188 23932  
14-Dec-20 772 700 540400 40144  
15-Dec-20 772 685 528820 28564  
16-Dec-20 772 678 523416 23160  
17-Dec-20 772 683 527276 27020  
18-Dec-20 772 683 527276 27020  
21-Dec-20 772 673 519556 19300  
22-Dec-20 772 667 514924 14668  
23-Dec-20 772 667 514924 14668  
24-Dec-20 772 695 536540 36284  
25-Dec-20 772 694 535768 35512  
28-Dec-20 772 687 530364 30108  
29-Dec-20 772 697 538084 37828  
30-Dec-20 772 696 537312 37056  
31-Dec-20 772 702 541944 41688  
01-Jan-21 772 695 536540 36284  
04-Jan-21 772 693 534996 34740  
05-Jan-21 772 704 543488 43232  
06-Jan-21 772 700 540400 40144  
07-Jan-21 772 698 538856 38600  
08-Jan-21 772 697 538084 37828  
11-Jan-21 772 700 540400 40144  
12-Jan-21 772 704 543488 43232  
13-Jan-21 772 703 542716 42460  
Sold due to profitable share
14-Jan-21 772 702 541944 41688 price.
Capital gain 41,688
Less dividend -
Less income tax (14%) (5,836)
Zakat (2.5%) (104)
Profit 35,748

SHARE PRICE HISTORY GRAPH

PRICE
PRICE
720

700

680
Y-AXIS SHARE PRICE

660

640

620

600

580
20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 21 21 21 21
e p - c t - c t - c t - c t - c t - c t - c t - ov- ov- ov- ov- ov- ov- ov- e c - e c - e c - e c - e c - e c - e c - a n - a n - a n - a n -
- S 5- O 8- O 3- O 6- O 1- O 6- O 9- O 4- N 9- N 2- N 7- N 0- N 5- N 0- N 3- D 8- D 1- D 6- D 1- D 4- D 9- D 1- J 6- J 1- J 4- J
30 1 1 2 2 2 1 1 2 2 3 1 1 2 2 2 1 1
X-AXIS DATE