Lahore: Pioneer Cement Ltd. has released its first quarterly report for the period ending September 30, 2026, showcasing substantial financial growth and strategic developments within the company. The report, dated October 30, 2026, highlights a notable increase in net sales and profit, alongside a pending merger with Maple Leaf Cement Factory Limited (MLCF).
In the cement industry, dispatches for the quarter reached 13.14 million tons, a 3.90% increase from the same period last year. Local dispatches rose by 7.82% to 10.85 million tons, while exports declined by 11.32% to 2.30 million tons. The North zone saw a 6.80% increase in local dispatches, reaching 8.95 million tons. The industry's overall capacity utilization improved to 62.16%.
Pioneer Cement reported an 8.66% increase in cement production to 580,987 tons and a 6.55% rise in cement sales to 585,952 tons. Additionally, the company sold 9,597 tons of clinker during this period. Financially, net sales surged by 28.87% to Rs. 10.85 billion, with the cost of sales rising by 19.89%.
The company's gross profit increased by 50.04% to Rs. 3.76 billion, and operating profit grew by 52.54% to Rs. 3.37 billion. Profit before taxation climbed by 67.93% to Rs. 3.51 billion, while profit after taxation soared by 73.37% to Rs. 2.21 billion, resulting in earnings per share of Rs. 9.72.
According to information available from the Pakistan Stock Exchange (PSX), Pioneer's financial growth was driven by improved net retention and increased sales volume. Despite higher taxation, including super tax and current tax provisions, the company maintained a strong financial position.
Progress on Pioneer's solar project continued, with 18 MW of the 28.265 MW capacity successfully energized. The project is expected to be completed next month, promising significant power cost savings and a reduced carbon footprint.
On September 2, 2026, the Board approved a merger scheme with MLCF, which holds 77.38% of Pioneer's shares. The effective date is proposed for July 1, 2026, subject to approval by the Lahore High Court and regulatory bodies. The merger will result in the dissolution and delisting of Pioneer Cement from the Pakistan Stock Exchange, with shareholders receiving 2.65 MLCF shares for each Pioneer share.
Pioneer Cement remains committed to sustainability, health, safety, and community welfare, with ongoing projects in emissions control, energy conservation, and community support. The company has invested Rs. 45 million in restoring the water supply scheme in Village Dhadhar, supported by a solar power system for sustainable water management.