Earnings Report /

Cherat Cement: 4QFY22 review – Surprise payout led by decent earnings growth

  • CHCC has posted 4QFY22 NPAT of PKR1.0bn (EPS: PKR5.25), up 4% YoY, but down 4% QoQ.

  • GMs have clocked in at 28.5% (up 0.8ppt/1.9ppt YoY/QoQ) vs. our estimated gross margins of 28.9%.

  • Effective tax rate has clocked in at 52% vs. 26% in SPLY due to one-off super tax implication.

Rahul Hans
Intermarket Securities
25 August 2022


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