Financials Pioneer Cement Limited

Equities

PIOC

PK0056201012

Construction Materials

End-of-day quote Pakistan S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
149.2 PKR +3.15% Intraday chart for Pioneer Cement Limited +9.12% +29.82%

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 5,145 14,319 29,772 13,704 19,678 33,895 -
Enterprise Value (EV) 1 5,145 40,467 56,227 13,704 19,678 33,895 33,895
P/E ratio 6.51 x -68.5 x 15.1 x 13.1 x 7.53 x 6.15 x 5.16 x
Yield - - - - - 6.63% 6.95%
Capitalization / Revenue 0.53 x 2.28 x 1.36 x 0.43 x 0.54 x 0.91 x 0.79 x
EV / Revenue 0.53 x 2.28 x 1.36 x 0.43 x 0.54 x 0.91 x 0.79 x
EV / EBITDA 2,220,885 x -365,965,193 x 6,135,884 x - - - -
EV / FCF - -2,675,453 x 11,665,879 x 1,750,177 x 2,259,231 x - -
FCF Yield - -0% 0% 0% 0% - -
Price to Book 0.39 x 1.09 x 1.97 x 0.46 x 0.49 x 0.92 x 0.84 x
Nbr of stocks (in thousands) 227,149 227,149 227,149 227,149 227,149 227,149 -
Reference price 2 22.65 63.04 131.1 60.33 86.63 149.2 149.2
Announcement Date 10/3/19 9/30/20 9/28/21 9/22/22 10/6/23 - -
1PKR in Million2PKR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025
Net sales 1 9,734 6,287 21,818 31,879 36,165 37,194 42,650
EBITDA 2,317 -39.13 4,852 - - - -
EBIT 1,809 -464.4 3,871 6,949 9,099 - -
Operating Margin 18.59% -7.39% 17.74% 21.8% 25.16% - -
Earnings before Tax (EBT) 1 1,323 -755.4 2,203 3,945 5,732 8,913 12,296
Net income 1 790.4 -209.6 1,974 1,050 2,611 5,336 7,500
Net margin 8.12% -3.33% 9.05% 3.29% 7.22% 14.35% 17.58%
EPS 2 3.480 -0.9200 8.690 4.620 11.50 24.25 28.90
Free Cash Flow - -5,352 2,552 7,830 8,710 - -
FCF margin - -85.13% 11.7% 24.56% 24.08% - -
FCF Conversion (EBITDA) - - 52.6% - - - -
FCF Conversion (Net income) - - 129.26% 745.52% 333.58% - -
Dividend per Share 2 - - - - - 9.900 10.37
Announcement Date 10/3/19 9/30/20 9/28/21 9/22/22 10/6/23 - -
1PKR in Million2PKR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2020 S1 2021 S1 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3
Net sales 1 4,148 9,371 6,197 8,614 14,811 7,728 9,340 8,322 10,325 18,646 9,150 8,369 8,712 10,113 18,825 8,561
EBITDA - - - - - - - - - - - - - - - -
EBIT - 1,184 1,319 1,642 2,961 1,591 - - - - - - - - - -
Operating Margin - 12.64% 21.29% 19.06% 19.99% 20.59% - - - - - - - - - -
Earnings before Tax (EBT) -195.3 345.4 739.2 1,049 1,788 757.1 1,399 874.3 1,704 2,579 - - - - - -
Net income 1 -111.7 606.5 480.5 662.7 1,143 485.3 -578.3 585.8 1,175 1,761 950 -100 933 1,693 2,626 1,269
Net margin -2.69% 6.47% 7.75% 7.69% 7.72% 6.28% -6.19% 7.04% 11.38% 9.45% 10.38% -1.19% 10.71% 16.74% 13.95% 14.82%
EPS 2 -0.4900 2.670 2.120 2.920 5.030 2.140 -2.550 2.580 5.170 7.750 4.180 -0.4400 4.110 7.450 11.56 5.603
Dividend per Share - - - - - - - - - - - - - - - -
Announcement Date 2/27/20 2/25/21 10/28/21 3/1/22 3/1/22 5/6/22 9/22/22 10/28/22 2/23/23 2/23/23 4/28/23 10/6/23 10/30/23 2/28/24 2/28/24 -
1PKR in Million2PKR
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025
Net Debt - 26,148 26,454 - - - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - -668.3 x 5.452 x - - - -
Free Cash Flow - -5,352 2,552 7,830 8,710 - -
ROE (net income / shareholders' equity) 5.87% -1.59% 14% 7.73% 15.4% 12.3% 15.9%
ROA (Net income/ Total Assets) 2.21% - - - - 6.6% 9.2%
Assets 1 35,694 - - - - 80,848 81,522
Book Value Per Share 2 58.60 57.80 66.50 131.0 178.0 163.0 177.0
Cash Flow per Share - - - - - - -
Capex 13,694 5,877 1,863 - - - -
Capex / Sales 140.68% 93.47% 8.54% - - - -
Announcement Date 10/3/19 9/30/20 9/28/21 9/22/22 10/6/23 - -
1PKR in Million2PKR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
149.2 PKR
Average target price
142.5 PKR
Spread / Average Target
-4.50%
Consensus
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