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)

Thematic (Sector/Industry)

Pakistan Construction materials / Thematic (Sector/Industry)

<ul><li>Topline Cement Universe is expected to post profitability of Rs13.3bn in 1QFY25 against profit of Rs12.9bn in 4QFY24, up by 3% QoQ, mainly due to lower financial charges.</li><li>On a QoQ basis, impact of lower domestic dispatches and higher coal costs have been mitigated by higher retention prices, especially in North (KPK).</li><li>While on YoY basis, Topline cement universe profitability is expected to decline by 6% YoY mainly due to lower domestic dispatches, down by 20% YoY to 8.13mn tons in 1QFY25.</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>

Topline Cement Universe is expected to post profitability of Rs13.3bn in 1QFY25 against profit of Rs12.9bn in 4QFY24, up by 3% QoQ, mainly due to lower financial charges.On a QoQ basis, impact of lower domestic dispatches and higher coal costs have been mitigated by higher retention prices, especially in North (KPK).While on YoY basis, Topline cement universe profitability is expected to decline by 6% YoY mainly due to lower domestic dispatches, down by 20% YoY to 8.13mn tons in 1QFY25.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.

Pakistan Cement: Profitability Likely to Decline by 6% YoY in 1QFY25