Pakistan Cements: 1QFY26 Profitability to increase 8%QoQ – By Taurus Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We expect TSL cement universe PAT to clock-in at PKR 23.9Bn, up 8%QoQ on the back of increase in overall dispatches by 6% QoQ (Domestic sales up 8%QoQ whereas exports dropped by 3%QoQ in 1QFY26) as construction demand picked up mainly in the North region, resulting in higher domestic utilization (up 3pptsQoQ to 58% in 1QFY26). Also, demand went up due to friendly budgetary measures (FY26) for the construction sector along with the Government&rsquo;s announcement of PKR 10Bn subsidy (allocated equally for both housing and mark-up subsidy) to support the sector during FY26.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Going forward, we expect some pressure on the utilization amid uncertainty revolving ...