External broker reports(aggregated public sources), Topline Securities

Topline Securities

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Fauji Cement Company Limited (FCCL) announced its financial result today, wherein the company reported earnings of Rs472mn (EPS: Rs0.19) in 4QFY23, down 73% YoY and 75% QoQ. Earnings were below market expectations.</li><li>Lower than estimated earnings could be attributed to higher than estimated selling and distribution expenses and effective tax rate.</li><li>This takes full year FY23 earnings to Rs7,440mn (EPS: Rs 3.03) up 5% YoY majorly on the back of higher retention prices.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Fauji Cement Company Limited (FCCL) announced its financial result today, wherein the company reported earnings of Rs472mn (EPS: Rs0.19) in 4QFY23, down 73% YoY and 75% QoQ. Earnings were below market expectations.Lower than estimated earnings could be attributed to higher than estimated selling and distribution expenses and effective tax rate.This takes full year FY23 earnings to Rs7,440mn (EPS: Rs 3.03) up 5% YoY majorly on the back of higher retention prices.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Fauji Cement (FCCL): 4QFY23 EPS at Rs0.19 vs. 4QFY22 EPS of Rs0.72 (Earnings below expectations)