Report
Rahul Hans

Cherat Cement: 3QFY20 – Barely positive gross margins lead to another loss

Cherat Cement (CHCC) has posted 3QFY20 NLAT of PKR627mn (LPS: PKR3.23), taking 9MFY20 loss to PKR1.2bn (LPS: PKR6.11), from a profit of PKR2.2bn (EPS: PKR11.58) in 9MFY19. The drag in earnings came from (i) drop in gross margins by 20.4ppt yoy to 0.17%, (ii) increase in finance cost by 81x yoy. On a PBT basis, the loss in 3Q came in at PKR816mn, which is worse than our estimate of PKR709mn, mainly due to lower-than-expected GMs.
3QFY20 KEY RESULT HIGHLIGHTS
Net revenue decreased by 4% yoy to ...
Underlying
Cherat Cement Co.

Co. is engaged in the manufacturing and marketing of cement and clinker.

Provider
Tellimer
Tellimer

Tellimer provides an integrated suite of services focused on the world's developing markets. It offers world class investment research and local insights; end-to-end content distribution and analytics; market execution and corporate access; brokerage services across Fixed Income and Equities; and expert advisory services.

Tellimer is headquartered in London, UK, with additional offices in Dubai, Lagos, Nairobi, New York and Singapore. It is a division of Exotix Partners LLP.

Analysts
Rahul Hans

Other Reports on these Companies
Other Reports from Tellimer
Other Reports from these Analysts

ResearchPool Subscriptions

Get the most out of your insights

Get in touch