Lahore: Gharibwal Cement Limited (GCL) announced the results of its Board of Directors meeting held on February 24, 2025, revealing its financial position for the period ended December 31, 2024. The company, designated in the cement market category, reported no cash dividends, bonus shares, or right shares for the specified period. The board meeting took place at 4:00 p.m. in Lahore.

According to the unaudited financial results, Gharibwal Cement Limited’s total assets as of December 31, 2024, stood at 38.23 billion, a slight increase from 37.13 billion recorded as of June 30, 2024. The company’s non-current assets amounted to 28.80 billion, while current assets increased to 9.43 billion from 8.50 billion. Equity and liabilities were reported at 38.23 billion.

The company’s equity includes a share capital of 4.00 billion and retained earnings of 12.77 billion. Non-current liabilities were reported at 9.16 billion, with borrowings and deferred taxation constituting the majority. Current liabilities rose to 4.23 billion from 3.73 billion, with trade and other payables making up the largest portion.

“According to information available from the Pakistan Stock Exchange (PSX),” the company’s operating activities generated a net cash inflow of 2.26 billion for the half-year ended December 31, 2024, a significant increase from 290.55 million in the previous year. This change was attributed to a net profit before levy and taxation of 1.29 billion, an increase from 1.12 billion the previous year, and adjustments for non-cash items totaling 652.88 million.

Despite this, GCL reported a net cash outflow of 436.85 million from investing activities, mainly due to payments for property, plant, and equipment. The company also experienced a net cash outflow of 95.59 million from financing activities, primarily due to bank borrowings repayment.

As a result, the cash and cash equivalents at the end of the period increased to 2.53 billion from 1.51 billion at the end of the same period in the previous year, indicating a more robust cash position for the company.

Gharibwal Cement Limited’s financial results reflect a stable period with no significant entitlements or corporate actions recommended by the board, focusing on maintaining its asset base and managing liabilities effectively.