Lahore: Fauji Cement Company Limited has released its financial results for the six-month period ending December 31, 2024. The detailed financial performance was disclosed via a letter, reference No Secy/FCCL/2037/39, dated February 25, 2025. The financial position reflects a comprehensive look into the company's equity, liabilities, and assets over the specified period.
The company's equity and reserves stood at 78.21 billion rupees as of December 31, 2024, compared to 73.40 billion rupees as of June 30, 2024. The share capital remained consistent at 24.53 billion rupees, while the capital reserve from the premium on the issue of shares was also stable at 15.25 billion rupees. Notably, the revenue reserve, accumulated profits, saw an increase from 33.62 billion rupees to 38.43 billion rupees during this period.
Non-current liabilities showed a slight increase, totaling 48.27 billion rupees by the end of December 2024, up from 47.37 billion rupees in June 2024. The long-term loans secured decreased to 27.33 billion rupees from 29.91 billion rupees. Deferred tax liabilities also rose significantly to 18.71 billion rupees from 14.93 billion rupees during the same period.
Current liabilities at the end of the period were reported at 29.93 billion rupees, an increase from 26.87 billion rupees in June 2024. The loan from the parent company remained unchanged at 7.39 billion rupees. Accrued liabilities witnessed a significant rise, reaching 7.43 billion rupees from 5.15 billion rupees.
The company's total assets increased from 147.64 billion rupees to 156.41 billion rupees over the six-month period. Non-current assets totaled 121.58 billion rupees, while current assets increased to 34.82 billion rupees from 25.78 billion rupees. Notably, cash and bank balances stood at 3.10 billion rupees, compared to 2.93 billion rupees in June 2024.
The cash flow statements revealed a net decrease in cash and cash equivalents of 1.56 billion rupees for the period ending December 2024. This was attributed to substantial cash used in investing activities, amounting to 5.39 billion rupees, and cash used in financing activities totaling 8.42 billion rupees.
According to information available from the Pakistan Stock Exchange (PSX), the company's financial activities included a significant decrease in cash flow from financing, primarily due to the repayment of long-term loans and dividend payments on ordinary shares.
The financial results underscore the company's strategic financial maneuvers and its current market position, categorized under the cement industry in the Pakistan stock market.