Earnings Report /
Pakistan

DG Khan Cement: 4QFY21 review – Higher effective tax rate lead to earnings miss

  • DGKC has posted an unconsolidated NPAT of PKR0.87bn (EPS: PKR1.99) in 4QFY21 vs NLAT of PKR0.31bn (LPS: PKR0.70) in SPLY

  • GMs during the quarter clocked in at 17.6% (down 5.2ppt qoq) – largely in line with our estimated margins of 17.9%.

  • Other income of has reduced by 72%qoq to PKR466mn. The decline is due to a one-off dividend received from MCB in 3QFY21.

Intermarket Securities
14 September 2021