Pakistan Cement_Cement dispatches for Jan’23 witnessed slight recovery, (AKD Daily, Feb 08, 2023)
AKD Daily
Pakistan Cement: Cement dispatches for Jan’23 witnessed slight recovery
- Local cement dispatches for Jan’23 clocked in at 3.59mn tons, changed by -2.4%/+5.5% MoM/YoY. Region-wise, North witnessed an increase of 5.5%YoY to 2.86mn tons against 2.71mn tons in SPLY in local sales. While, domestic offtakes in the South increased by 1.5%/5.4% MoM/YoY with sales of 0.73mn tons vs 0.72/0.68mn tons in Dec’22/Jan’22.
- Richard Bay coal prices have recently witnessed a dip, currently hovering at US$150/ton vs average of US$232/168/ton in Dec’23/CYTD. In case, coal prices further move down to US$120/ton, exports are expected to increase as export prices become much viable.
- With an overall shift in macro-policy focus from growth in previous years to consolidation, we expect sector volumes to decline by ~17-18% for FY23.
- Overall, companies with timely expansions and relatively less debt on their books may remain better off in the near term, for this reason we continue to advocate LUCK and MLCF on the back of timely expansions, low leverage and better production efficiencies contributing to their margins going forward
AKD Research
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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