Lucky Cement

Last updated

Lucky Cement
Company type Public
PSX:  LUCK
KSE 100 component
KSE 30 component
Founded1993
FounderAbdul Razzak Tabba
Headquarters
Karachi
,
Pakistan
Number of locations
 Pezu, Lakki Marwat District, Nooriabad, Jamshoro
Key people
  • Muhammad Ali Tabba (CEO)
  • Muhammad Sohail Tabba (chairman)
ProductsOrdinary Portland Cement
Sulphate Resistant
Cement Clinker
Block Cement
RevenueIncrease2.svgRs. 489.363 billion (US$1.7 billion) (2024)
Increase2.svgRs. 65.555 billion (US$230 million) (2024)
Total assets Increase2.svgRs. 659.661 billion (US$2.3 billion) (2024)
Total equity Increase2.svgRs. 310.631 billion (US$1.1 billion) (2024)
Number of employees
2,626 (2023)
Parent Yunus Brothers Group
Subsidiaries
Website lucky-cement.com
Footnotes /references
Financials as of 30 June 2024 [1]

Lucky Cement Limited, also known as Lucky Group, is a Pakistani conglomerate headquartered in Karachi, Sindh. [2] Named after the place, Lakki Marwat, where the first plant was commissioned in 1993, Lucky has become one of the largest cement producers in Pakistan. [3] It has 15.3 million tonnes per annum of manufacturing capacity. [4] The company is listed on the Pakistan Stock Exchange.

Contents

History

Lucky Cement Limited was founded in 1993 by Abdul Razzak Tabba. [5] [6] It established a cement manufacturing plant in Pezu located in Lakki Marwat District of the Khyber Pakhtunkhwa Province. [7] Along with 2 other plans located in Karachi. [2]

In 1994, Lucky Cement was listed on the Karachi Stock Exchange following an initial public offering. [8]

Over the years, Lucky Cement has expanded its business operations with a plant in Nooriabad, Jamshoro District, Sindh and two field plants at Karachi on Super Highway. [7] It exports its loose cement using its own loading and storage terminal at Karachi Port, which has a capacity of 24,000 tons of cement. [9] [10]

In June 2024, the global depository receipts of Lucky Cement were delisted from the London Stock Exchange. [11]

Shareholding

Lucky Cement is owned by a corporate group called Yunus Brothers Group and its subsidiaries including Gadoon Textile Mills, Lucky Textile Mills, and Yunus Textile Mills, all based in Karachi. [7] [12] It is one of four companies that collectively control 19.3% of the total market capitalization on the Pakistan Stock Exchange (PSX). [12]

Products

In 2017, the company was producing Ordinary Portland Cement, Sulphate Resistant Cement, Block Cement and Clinker and had about an 18 percent share of the Pakistani cement market. [3] [13]

Power generation

The company is producing enough electricity to not only fulfil its own requirements but has also started supplying electricity to Hyderabad Electric Supply Company (HESCO). [14] and is now in the process of providing electricity to Peshawar Electric Power Company.

Geared to sustainable growth, The YB Group has diversified into the power generation sector by investing into Lucky Electric Power Company Limited. The company is a wholly owned subsidiary of Lucky Cement. It is the largest importer of coal with Lucky Cement Limited investing in a 660MW coal-based power project in Bin Qasim Town. [15]

In July 2020, K-Electric Limited (Karachi) and Lucky Cement signed an agreement whereby K-Electric would buy up to 6 megawatt (MW) of electricity from Lucky Cement to be supplied to DHA City, Karachi being developed along Superhighway. [16]

Alternate fuel

Lucky Cement has shifted its focus to alternate fuel such as TDF and RDF. [17]

Sustainability reporting

In 2012, Lucky Cement was the only company in Pakistan to receive an A+ rating by Global Reporting Initiative (GRI) of Netherlands, for its Sustainability Report for 2012. [18]

In 2019, Lucky Cement again won a second position in the cement category in the "Best Corporate & Sustainability Report Awards 2019" awarded by the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMAP). [19]

Subsidiaries

Investments

In October 2023, Lucky Cement's board of directors announced a decision to invest up to Rs. 4 billion in Lucky Core Ventures (Private) Limited and National Resources (Private) Limited, a Balochistan-based mining company. [22]

In 2024, Lucky Cement and Fatima Fertilizer Company acquired a direct stake in National Resources (Private) Limited. [23]

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References

  1. ↑ "Lucky Cement Annual Report 2024" (PDF). Retrieved 29 August 2024.
  2. 1 2 Research, B. R. (17 January 2023). "Lucky Cement Limited". Brecorder. Retrieved 16 December 2024.
  3. 1 2 "Pakistan's Lucky Cement raises $109 million via GDRs (global depositary receipts)". Reuters website. 8 May 2008. Retrieved 17 November 2020.
  4. ↑ "Lucky Cement kick-starts new line, reaches 15.3 MTPA capacity". www.thenews.com.pk. Retrieved 23 December 2022.
  5. ↑ "Who's who in newly listed companies on KSE". Economic Review. 1 December 1994.
  6. ↑ "Lucky Cement". Forbes.
  7. 1 2 3 Lucky Cement Limited - a brief profile Business Recorder, Published 16 June 2005, Retrieved 17 November 2020
  8. ↑ Hussain, Dilawar (5 January 2002). "Lucky Cement: Corporate Profile". dawn.com.
  9. ↑ Research, B. R. (17 January 2023). "Lucky Cement Limited". Brecorder. Retrieved 28 November 2024.
  10. ↑ "International Cement Review - News, Events & Training". International Cement Review. 9 March 2009. Retrieved 28 November 2024.
  11. ↑ "London Stock Exchange | London Stock Exchange".
  12. 1 2 Hussain, Dilawar (22 March 2021). "Who's who of the PSX". DAWN.COM. Retrieved 16 December 2024.
  13. ↑ ".:: Products | Lucky Cement ::". www.lucky-cement.com. Retrieved 13 December 2017.
  14. ↑ "Surplus generation: Lucky Cement starts powering HESCO". The Express Tribune. 2 July 2012. Retrieved 17 November 2020.
  15. ↑ Alam, Kazim (22 March 2022). "Lucky completes commissioning of 660MW power plant". DAWN.COM. Retrieved 19 November 2024.
  16. ↑ KE to buy 6MW from Lucky Cement The News International, Published 16 July 2020, Retrieved 17 November 2020
  17. ↑ "Lucky Cement makes history by recording 70.82% increase in Net Profit". The Financial Daily. Archived from the original on 28 December 2013. Retrieved 17 November 2020.
  18. ↑ "Business Observer". Business Observer. 11 October 2024.
  19. ↑ Lucky Cement awarded The News International, Published 15 October 2020, Retrieved 17 November 2020
  20. ↑ "$5m or above assets, holdings, cash in offshore cos: More than a dozen Pak families, individuals named". The News International .
  21. ↑ "Najmat Al Samawa Company for Cement Manufacturing". www.globalcement.com.
  22. ↑ "Lucky Cement to invest Rs4bn in Lucky Core Ventures and National Resources Limited". Business Recorder. 30 October 2023.
  23. ↑ "Fatima Fertilizers, Lucky Cement acquire direct stake in Balochistan-based mining company". Profit.
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