BR Research - Industry

Cement’s cost of borrowing

Cement’s cost of borrowing

Back in 2016 when the CPEC had just been signed and the economy was visibly booming with government development spending on the rise and business...

Auto sales: the invisible hand appears

Auto sales: the invisible hand appears

Predictably, car demand has plummeted as we kick of FY20. Auto makers had been raising prices every few months citing rupee depreciation and their vulnerability...

DGKC is not looking back!

DGKC is not looking back!

Even as DG Khan Cement’s (PSX: DGKC) unconsolidated earnings shrink by 82 percent in FY19 (from a solid Rs8.8 billion to Rs1 billion), the company...

Global coal markets in distress

Global coal markets in distress

Coal customers should stock up—which includes coal-fired power generating companies here and abroad as well as cement manufacturers using coal as primary fuel. If their...

Cement’s inverted U-turn

Cement’s inverted U-turn

As cement companies consolidate their annual financial results, two things are certain. They would not be boosting very strong margins as they were in FY16,...

Cement: (lack of) confidence signaling

Cement: (lack of) confidence signaling

Unlike big automakers like Indus Motors that have historically distributed over 70 percent of their earnings to shareholders, cement companies more or less have demonstrated...

Tough six months at Nestlé Pakistan

Tough six months at Nestlé Pakistan

Nestlé Pakistan announced its financial results for 1HCY19 continuing with its high dividend payout – announcing Rs90/share as interim dividend. Going has been rather tough...

Manufacturing recession!

Manufacturing recession!

Large Scale Manufacturing (LSM) has made headlines again; people are talking about how it is the first ever contraction in the last 10 years. That...

ISL: (Not) on a roll

ISL: (Not) on a roll

Despite a decent 16 percent growth in its overall revenue, the flat steel manufacturer International Steels Limited (PSX: ISL) recorded a 39 percent decline in...

Bestway’s FY19: as best as it could

Bestway’s FY19: as best as it could

Bestway Cement (PSX: BWCL) dominates not only the north zone of the country but also the entire industry in terms of capacity and evidently, revenues...

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