Kohat Cement Company Ltd. (KOHC): 3QFY25 Result Review — Declining coal prices overshadow reduced volumes - By AKD Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Kohat Cement Company Ltd. (KOHC) announced its 3QFY25 financial results, reporting earnings of PkR2.3bn (EPS: PkR11.9), compared to PkR2.1bn (EPS: PkR10.5) in SPLY, up 14%YoY, due to increase in gross margins. Earnings were in line with our expectations.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Revenue decreased by 4%YoY to PkR8.1bn from PkR8.5bn in SPLY, wherein, 5%YoY decrease in volumes overshadowed 1%YoY rise in retention prices.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Gross margins improved to 39.5% from 29.9% in SPLY, attributed to i) higher retention prices, ii) decline in coal prices, and iii) lower grid tariff (~40% of power rel...