Lucky Cement
{{Short description|Pakistani conglomerate based in Karachi}}
{{Use Pakistani English|date=October 2024}}
{{Use dmy dates|date=June 2021}}
{{Infobox company
| logo = Lucky Cement logo.png
| type = Public
| traded_as = {{PSX|LUCK}}
KSE 100 component
KSE 30 component
| foundation = 1993
| founder = Abdul Razzak Tabba
| location_city = Karachi
| location_country = Pakistan
| locations = Pezu, Lakki Marwat District, Nooriabad, Jamshoro
| key_people = {{ubl|Muhammad Ali Tabba (CEO)|Muhammad Sohail Tabba (chairman)}}
| products = Ordinary Portland Cement
Sulphate Resistant
Cement Clinker
Block Cement
| net_income = {{Increase}} {{PKRConvert|65.555|b}}
| net_income_year = 2024
| equity = {{Increase}} {{PKRConvert|273.625|b}}
| equity_year = 2024
| num_employees = 2,626
| num_employees_year = 2023
| parent = Yunus Brothers Group
| subsid = {{ubl|Lucky Core Industries (55%)|Lucky Electric Power (100%)|Lucky Motor Corporation (71.55%)|Lucky Rawji (50%)|Najmat Al Samawa (50%)|Yunus Energy Limited (20%)}}
| website = {{URL|lucky-cement.com}}
| footnotes = Financials {{as of|2024|6|30|lc=y}} {{cite web|title=Lucky Cement Annual Report 2024|url=https://dps.psx.com.pk/download/document/235044.pdf |access-date=29 August 2024}}
}}
Lucky Cement Limited, also known as Lucky Group, is a Pakistani conglomerate headquartered in Karachi, Sindh.{{Cite web |last=Research |first=B. R. |date=2023-01-17 |title=Lucky Cement Limited |url=https://www.brecorder.com/news/40220659 |access-date=2024-12-16 |website=Brecorder |language=en}} 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.{{Cite news|url=https://www.reuters.com/article/lucky/pakistans-lucky-cement-raises-109-mln-via-gdrs-idUSSIN1945420080508|title=Pakistan's Lucky Cement raises $109 million via GDRs (global depositary receipts)|date=8 May 2008|work=Reuters website|access-date=17 November 2020}} It has 15.3 million tonnes per annum of manufacturing capacity.{{Cite web |title=Lucky Cement kick-starts new line, reaches 15.3 MTPA capacity |url=https://www.thenews.com.pk/print/1022806-lucky-cement-kick-starts-new-line-reaches-15-3-mtpa-capacity |access-date=2022-12-23 |website=www.thenews.com.pk |language=en}} The company is listed on the Pakistan Stock Exchange.
History
Lucky Cement Limited was founded in 1993 by Abdul Razzak Tabba.{{Cite web |url=https://www.thefreelibrary.com/Who%27s+who+in+newly+listed+companies+on+KSE.-a016656412 |title=Who's who in newly listed companies on KSE |date=1 December 1994 |website=Economic Review}}{{Cite web|url=https://www.forbes.com/companies/lucky-cement/|title=Lucky Cement|website=Forbes}} It established a cement manufacturing plant in Pezu located in Lakki Marwat District of the Khyber Pakhtunkhwa Province. Along with 2 other plans located in Karachi.
In 1994, Lucky Cement was listed on the Karachi Stock Exchange following an initial public offering.{{Cite web|url=https://www.dawn.com/news/13417/lucky-cement-corporate-profile|title=Lucky Cement: Corporate Profile|first=Dilawar|last=Hussain|date=5 January 2002|website=dawn.com}}
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. 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.{{Cite web |last=Research |first=B. R. |date=2023-01-17 |title=Lucky Cement Limited |url=https://www.brecorder.com/news/40220659 |access-date=2024-11-28 |website=Brecorder |language=en}}{{Cite web |date=2009-03-09 |title=International Cement Review - News, Events & Training |url=https://www.cemnet.com/News/story/134659/lucky-cement-sets-up-storage-at-karachi-port-pakistan.html |access-date=2024-11-28 |website=International Cement Review |language=en}}
In June 2024, the global depository receipts of Lucky Cement were delisted from the London Stock Exchange.{{cite web | url=https://www.londonstockexchange.com/news-article/market-news/delisting-of-securities/16520986 | title=London Stock Exchange | London Stock Exchange }}
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.[https://fp.brecorder.com/2005/06/20050616282087/ Lucky Cement Limited - a brief profile] Business Recorder, Published 16 June 2005, Retrieved 17 November 2020{{Cite web |last=Hussain |first=Dilawar |date=2021-03-22 |title=Who’s who of the PSX |url=https://www.dawn.com/news/1613808 |access-date=2024-12-16 |website=DAWN.COM |language=en}} It is one of four companies that collectively control 19.3% of the total market capitalization on the Pakistan Stock Exchange (PSX).
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.{{Cite web|url=http://www.lucky-cement.com/products/|title=.:: Products {{!}} Lucky Cement ::.|website=www.lucky-cement.com|language=en-US|access-date=2017-12-13}}
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).{{cite news|title=Surplus generation: Lucky Cement starts powering HESCO|url=https://tribune.com.pk/story/402679/surplus-generation-lucky-cement-starts-powering-hesco/ |newspaper=The Express Tribune |date=2 July 2012|accessdate=17 November 2020}} 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.{{Cite web |last=Alam |first=Kazim |date=2022-03-22 |title=Lucky completes commissioning of 660MW power plant |url=https://www.dawn.com/news/1681170 |access-date=2024-11-19 |website=DAWN.COM |language=en}}
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.[https://www.thenews.com.pk/print/687299-ke-to-buy-6mw-from-lucky-cement KE to buy 6MW from Lucky Cement] The News International, Published 16 July 2020, Retrieved 17 November 2020
Alternate fuel
Lucky Cement has shifted its focus to alternate fuel such as TDF and RDF.{{cite news|title=Lucky Cement makes history by recording 70.82% increase in Net Profit|url=http://www.thefinancialdaily.com/NewsSearchResult/NewsSearchDetail.aspx?NewsID=150865|access-date=17 November 2020|archive-url=https://web.archive.org/web/20131228001232/http://www.thefinancialdaily.com/NewsSearchResult/NewsSearchDetail.aspx?NewsID=150865|archive-date=28 December 2013|url-status=dead|newspaper=The Financial Daily}}
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.{{Cite web|url=https://businessobserver.pk|title=Business Observer|date=11 October 2024|website=Business Observer}}
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).[https://www.thenews.com.pk/print/729398-lucky-cement-awarded Lucky Cement awarded] The News International, Published 15 October 2020, Retrieved 17 November 2020
Subsidiaries
- Lucky Core Industries (55%), formerly known as ICI Pakistan
- Lucky Electric Power Company Limited (100%), a power plant in Karachi
- Lucky Motor Corporation (71.55%), manufactures Kia and Peugeot cars in Pakistan
- Lucky Rawji (50%), a cement factory in Democratic Republic of Congo{{Cite web|url=https://www.thenews.com.pk/print/897975-5m-or-above-assets-holdings-cash-in-offshore-cos-more-than-a-dozen-pak-families-individuals-named|title=$5m or above assets, holdings, cash in offshore cos: More than a dozen Pak families, individuals named|website=The News International}}
- Najmat Al Samawa (50%), a cement factory in Iraq{{Cite web|url=https://www.globalcement.com/news/itemlist/tag/Najmat+Al+Samawa+Company+for+Cement+Manufacturing|title=Najmat Al Samawa Company for Cement Manufacturing|website=www.globalcement.com}}
- Yunus Energy Limited (20%), a wind power plant in Jhimpir
Investments
In October 2023, Lucky Cement's board of directors announced a decision to invest up to Rs.{{nbsp}}4 billion in Lucky Core Ventures (Private) Limited and National Resources (Private) Limited, a Balochistan-based mining company.{{Cite web |date= 30 October 2023|title=Lucky Cement to invest Rs4bn in Lucky Core Ventures and National Resources Limited |url=https://www.brecorder.com/news/40270709 |archive-date= |website=Business Recorder}}
In 2024, Lucky Cement and Fatima Fertilizer Company acquired a direct stake in National Resources (Private) Limited.{{Cite news |title=Fatima Fertilizers, Lucky Cement acquire direct stake in Balochistan-based mining company |url=https://profit.pakistantoday.com.pk/2024/02/15/fatima-fertilizers-lucky-cement-acquire-direct-stake-in-balochistan-based-mining-company/ |work=Profit}}
References
{{reflist}}
External links
- {{official website|https://www.lucky-cement.com}}
{{KSE 100}}
{{KMI 30}}
{{KSE 30}}
{{DEFAULTSORT:Lucky Cement}}
Category:Cement companies of Pakistan
Category:Manufacturing companies established in 1993
Category:Companies listed on the Pakistan Stock Exchange
Category:Companies in the KSE 100 Index
Category:Conglomerate companies of Pakistan