<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We expect TSL cement universe PAT to clock-in at PKR 20.6Bn,
up 7%QoQ on the back of higher retention prices (Net sales expected to rise by 27%QoQ in 2QFY25) and other income (up
13%QoQ). Moreover, total dispatches were up significantly by
23%QoQ to 12.6Mn tons in 2QFY25 as construction activities
started to accelerate due to certain initiatives and demand recovery. Further, TSL Cement universe gross margins to arrive at
30%, down 2pptsQoQ due to drop in MRP prices mainly in the
North region which put significant pressure on retention prices
for North based players during the quarter. To note, capacity
utilization in 2QFY25 improved to 58% compared to 55% during the SPLY. Net income is expected to arrive at PKR 8.0Bn, up
13%QoQ.</span></li></u...
