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Company type | Public |
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PSX: LUCK KSE 100 component KSE 30 component | |
Founded | 1993 |
Founder | Abdul Razzak Tabba |
Headquarters | , |
Number of locations | Pezu, Lakki Marwat District, Nooriabad, Jamshoro |
Key people | |
Products | Ordinary Portland Cement Sulphate Resistant Cement Clinker Block Cement |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | 2,626 (2023) |
Parent | Yunus Brothers Group |
Subsidiaries |
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Website | lucky-cement |
Footnotes / references Financials as of 30 June 2023[update] [1] |
Lucky Cement Limited (Urdu: لکی سیمنٹ), also known as Yunus Brothers Group, or Lucky Group, is a Pakistani conglomerate company headquartered in Karachi, Sindh. Named after the place, Lakki Marwat, where the first plant was commissioned in 1993, Lucky has become one of the largest cement producers in Pakistan.[2] It has 15.3 million tonnes per annum of manufacturing capacity.[3] The company is listed on the Pakistan Stock Exchange.
History
[edit]Lucky Cement Limited (LCL) was founded in 1993 by Abdul Razzak Tabba.[4] The company started with factories in the Pezu located in Lakki Marwat District of the Khyber Pakhtunkhwa Province. It now, also, owns a factory in Nooriabad, Jamshoro.[5]
Over the years, the company has grown substantially and is expanding its business operations with production facilities at strategic locations in Jamshoro District, Sindh and two field plants at Karachi on Super Highway to cater to the Southern regions,[5] Pezu and Khyber Pakhtunkhwa to furnish the Northern areas of the country. LCL has a network of over 200 dealers which enables it to dominate the local market and is Pakistan's first company to export sizeable quantities of loose cement being the only cement manufacturer to have its own loading and storage terminal at Karachi Port.
In June 2024, the global depository receipts of Lucky Cement were delisted from the London Stock Exchange.[6]
Shareholding
[edit]LCL has been sponsored by one of the largest business groups in Pakistan, the Yunus Brothers Group, one of the largest textile export house of Pakistan with subsidaries including Gadoon Textile Mills, Lucky Textile Mills, and Yunus Textile Mills, all based in Karachi.[5]
Products
[edit]In 2017, the company was producing Ordinary Portland Cement, Sulphate Resistant Cement, Block Cement and Clinker and had about an 18 percent share of the Pakistani cement market.[2][7]
Power generation
[edit]The company is producing enough electricity to not only fulfill its own requirements but has also started supplying electricity to Hyderabad Electric Supply Company (HESCO).[8] and is now in the process of providing electricity to Peshawar Electric Power Company.
Geared to sustainable growth, The YB Group has diversified into the power generation sector by investing into Lucky Electric Power Company Limited (LEPCL). The company is a wholly owned subsidiary of LCL Holding Limited making it an indirect subsidiary of Lucky Cement Limited. Being the largest importer of coal, Lucky Cement Limited's decision of investing in 660MW coal-based power project in Karachi will create synergy amongst its existing diversified business portfolio.
In July 2020, K-Electric Limited (Karachi) and Lucky Cement signed an agreement whereby K-Electric would buy up to 6 megawatt (MW) of electricity from Lucky Cement to be supplied to DHA City, Karachi being developed along Superhighway.[9]
Alternate fuel
[edit]Lucky Cement has shifted its focus to alternate fuel such as TDF and RDF.[10]
Sustainability reporting
[edit]In 2012, Lucky Cement was the only company in Pakistan to receive an A+ rating by Global Reporting Initiative (GRI) of Netherlands, for its Sustainability Report for 2012.[11]
In 2019, Lucky Cement again won a second position in the cement category in the "Best Corporate & Sustainability Report Awards 2019" awarded by the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMAP).[12]
Subsidiaries
[edit]- Lucky Core Industries (55%), formerly known as ICI Pakistan
- Lucky Electric Power Company Limited (100%), a power plant in Karachi
- Lucky Motor Corporation (71.55%), manufactures Kia and Peugeot cars in Pakistan
- Lucky Rawji (50%), a cement factory in Democratic Republic of Congo[13]
- Najmat Al Samawa (50%), a cement factory in Iraq[14]
- Yunus Energy Limited (20%), a wind power plant in Jhimpir
Investments
[edit]In October 2023, Lucky Cement's board of directors announced a decision to invest up to Rs. 4 billion in Lucky Core Ventures (Private) Limited and National Resources (Private) Limited, a Balochistan-based mining company.[15]
In 2024, Lucky Cement and Fatima Fertilizer Company acquired a direct stake in National Resources (Private) Limited.[16]
Awards and recognition
[edit]Lucky Cement was recognized by Asiamoney as Pakistan's most outstanding company under Asiamoney.[17]
References
[edit]- ^ "Lucky Cement Annual Report 2023" (PDF). lucky-cement.com. Retrieved 8 December 2023.
- ^ a b "Pakistan's Lucky Cement raises $109 million via GDRs (global depositary receipts)". Reuters website. 8 May 2008. Retrieved 17 November 2020.
- ^ "Lucky Cement kick-starts new line, reaches 15.3 MTPA capacity". www.thenews.com.pk. Retrieved 23 December 2022.
- ^ "Lucky Cement | Company Overview & News". Forbes.
- ^ a b c Lucky Cement Limited - a brief profile Business Recorder, Published 16 June 2005, Retrieved 17 November 2020
- ^ https://www.londonstockexchange.com/news-article/market-news/delisting-of-securities/16520986
- ^ ".:: Products | Lucky Cement ::". www.lucky-cement.com. Retrieved 13 December 2017.
- ^ "Surplus generation: Lucky Cement starts powering HESCO". The Express Tribune (newspaper). 2 July 2012. Retrieved 17 November 2020.
- ^ KE to buy 6MW from Lucky Cement The News International (newspaper), Published 16 July 2020, Retrieved 17 November 2020
- ^ "Lucky Cement makes history by recording 70.82% increase in Net Profit". The Financial Daily (business newspaper). Archived from the original on 28 December 2013. Retrieved 17 November 2020.
- ^ "Lucky Cement Receives Global Reporting Initiative on Sustainability Report".
- ^ Lucky Cement awarded The News International (newspaper), Published 15 October 2020, Retrieved 17 November 2020
- ^ "$5m or above assets, holdings, cash in offshore cos: More than a dozen Pak families, individuals named". The News International.
- ^ "Najmat Al Samawa Company for Cement Manufacturing". www.globalcement.com.
- ^ "Lucky Cement to invest Rs4bn in Lucky Core Ventures and National Resources Limited". Business Recorder.
- ^ "Fatima Fertilizers, Lucky Cement acquire direct stake in Balochistan-based mining company". Profit.
- ^ Lucky Cement voted Pakistan's most outstanding company Business Recorder (newspaper), Published 27 September 2020, Retrieved 17 November 2020