Thatta Cement Company Limited has announced its financial results for the year ended June 30, 2026, reporting a consolidated net profit of Rs2.27 billion while outlining plans to enter Pakistan’s growing electric vehicle (EV) market through a wholly owned subsidiary.

According to the financial results approved by the Board of Directors at its meeting held on November 4, 2026, the company recorded consolidated net sales of approximately Rs11.93 billion during FY2026, compared with Rs9.94 billion in the previous financial year, reflecting an increase of around 20%.

The company’s consolidated gross profit increased to Rs3.85 billion from Rs2.95 billion in FY2025. Operating profit also improved to Rs3.92 billion against Rs3.64 billion in the preceding year.

However, consolidated profit after taxation stood at Rs2.27 billion, slightly below the Rs2.34 billion reported in FY2025. Earnings per share (EPS) also declined to Rs4.80 from Rs5.66.

On a standalone basis, Thatta Cement reported a profit after taxation of Rs2.01 billion for FY2026, compared with Rs2.56 billion in the previous year. Standalone earnings per share declined to Rs4.74 from Rs6.04.

Dividend Announcement

The board recommended a cash dividend of 25%, equivalent to Rs0.50 per share, exclusively for minority shareholders.

The company clarified that no dividend would be paid to its majority shareholders, comprising Sky Pak Holding (Private) Limited, Al-Miftah Holding (Private) Limited, Golden Globe Holding (Private) Limited and Rising Star Holding. These majority shareholders have already agreed to waive their entitlement to dividends for the financial year ended June 30, 2026.

The company also announced that no bonus shares or right shares would be issued.

Thatta Cement Plans Entry into Pakistan’s Electric Vehicle Market

In a significant development, Thatta Cement is preparing to diversify its business by entering Pakistan’s emerging electric vehicle industry.

The board has approved an investment in a wholly owned subsidiary to venture into the electric vehicle business. Initially, the subsidiary will focus on importing completely built-up (CBU) electric vehicles from China.

The company plans to target Pakistan’s largely underserved mass-market segment rather than concentrating on premium or niche electric vehicles.

Its proposed strategy involves introducing affordable, compact and small electric vehicles designed to meet the mobility needs and purchasing power of a broader consumer base.

The company believes that growing consumer interest, the entry of international and domestic brands, and government incentives and tax concessions are creating opportunities in Pakistan’s EV market.

Thatta Cement aims to establish an early presence in the evolving electric vehicle industry and gradually develop a sustainable business platform. The company has also indicated the possibility of expanding into local vehicle assembly and related activities in the future.

Annual General Meeting Scheduled for November 27

Thatta Cement has scheduled its Annual General Meeting (AGM) for Friday, November 27, 2026, at 10:30 AM at the Beach Luxury Hotel, Karachi.

The company’s share transfer books will remain closed from November 19 to November 27, 2026, both days inclusive.

Shareholders have been advised that transfers received by the company’s share registrar, THK Associates (Private) Limited, by the close of business on November 18, 2026, will be considered eligible for the AGM.

Outlook

While Thatta Cement experienced a slight decline in consolidated annual earnings, its higher revenue and gross profit indicate improvement in its core financial performance.

The planned investment in electric vehicles represents a major diversification initiative for the company. Its focus on affordable vehicles could provide an opportunity to participate in Pakistan’s expanding EV market.

The success of this initiative will depend on market demand, pricing, regulatory developments and the company’s ability to establish an effective distribution and operational network.

Investors will likely monitor the company’s progress in its new business segment alongside its traditional cement operations in the coming months.