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Analyst Opinion
DGKC - D. G. Khan Cement Company Ltd.
DGKC FY26 sanguine results
Ahsan Muhammad Asif    8/28/2026 4:51:28 PM
DGKC posted an impressive standalone EPS of PKR 26.08/sh (up 32% YoY from PKR 19.80/sh) alongside a final cash dividend of PKR 1.00/sh. We believe DGKC has shown rebound in earnings. At the current market price, DGKC trades at a P/E multiple of ~8.16x. DGKC book value reached PKR 120 bn which translates into book value per share of PKR 275/sh. DGKC also yields Enterprise Value of PKR 306.7/sh The net revenue (unconsolidated) increased by 11% YoY to PKR 79.56bn. The gross profit rose 12% YoY to PKR 20.73bn, yielding a gross margin of 26% (vs. 25.74% in FY25). The finance costs dropped by a massive 67% YoY to PKR 1.28bn (down from PKR 3.87bn in FY25). DGKC Net Profit increased by 32% YoY to PKR 11.42bn, translating into Net Profit Margin of 14%. Growth in key Balance Sheet numbers - Total Equity: Up 27.4% YoY to PKR 120.64bn (vs. PKR 94.7bn in FY25). - ?Investments: Long-term investments grew to PKR 54.31bn (vs. PKR 20.69bn in the SPLY); short-term jumped 78% YoY to PKR 42.72bn (vs. PKR 24.01bn in the SPLY). - ?Borrowings: Long-term borrowing rose to PKR 24.45bn; short-term increased 41% YoY to PKR 13.90bn. - DGKC now owns beneficial ownership in RMPL of ~ 31% - 32% (we are awaiting books to ascertain real value).
Link: https://scstrade.com/apaudio/DGKC-66-1787917740638-4dc267d5.pdf
DGKC - D. G. Khan Cement Company Ltd.
DGKC Bounces Off Trendline Support — Upside Targets in Sight
Muhammad Wajahat    8/25/2026 9:15:33 AM
DGKC has successfully taken support at its trendline, signalling improving technical momentum and presenting a favourable buying opportunity. We recommend investors accumulate the stock within the PKR 219.45–221.15 range, with a stop-loss below PKR 201.35. The stock is expected to target PKR 227.56, 235.65, and 247.15, subject to sustained bullish momentum.
Link: https://scstrade.com/apaudio/DGKC-59-1787571049071-7b5aee2a.pdf
DGKC - D. G. Khan Cement Company Ltd.
DGKC Resistance turned into Support zone.
Wajahat    6/23/2026 12:00:00 AM
DGKC has successfully broken above a key resistance zone, validating the breakout and reinforcing its constructive bullish outlook. The achievement of the first two upside targets highlights the strength of prevailing momentum and sustained investor interest. Investors may continue to hold positions for the next upside objectives at 235.65, 245.15, and 257.52, subject to favorable market conditions and continued buying activity. To preserve gains and maintain prudent risk management, the stop-loss is now revised to below 201.15.
Link: https://www.scstrade.com/research/Research%20Reports/General/Technical%20Analysis%20Report%20DGKC%20June%2023,%202026...pdf
DGKC - D. G. Khan Cement Company Ltd.
DGKC 2QFY26 Result Review
Ahsan Muhammad Asif    2/24/2026 12:00:00 AM
D.G. Khan Cement posted a robust growth in profitability of PKR 3.85bn, up 28% YoY during 2QFY26, despite a slight decline in topline revenue. The company posted 1HFY26 EPS of PKR 13.59/sh, which is up 61% YoY from PKR 8.42/sh. The quarterly revenue stood at Rs 22.95 bn, marginally lower than Rs 23.43 bn in 2QFY25, reflecting a ~2% YoY decline. The slight drop in sales suggests either softer dispatch volumes or pricing pressure in the domestic/export market. However, the real strength of the quarter lies in margin expansion. Profitability Increased Gross profit increased significantly to Rs 7.04 bn compared to Rs 5.84 bn in the same quarter last year, registering a ~20% YoY growth. Gross margins improved to approximately 30.7% from around 24.9% last year. This indicates strong cost control, improved retention prices, and likely benefits from lower coal or energy costs. The margin improvement clearly shows operational efficiency gains. Decline in Finance Cost: A major positive driver of earnings this quarter was the sharp decline in finance costs. Finance cost dropped to Rs 505mn from Rs 1.07bn in 2QFY25 — a decline of more than 50% YoY. This reduction reflects lower interest rates and significant debt repayment during the period. The impact of lower finance charges directly boosted bottom-line growth. As a result, PBT rose to Rs 5.88 bn compared to Rs 4.33 bn last year. After taxation, Profit After Tax (PAT) stood at Rs 3.85 bn, up from Rs 3.01 bn, showing a strong ~28% YoY increase. Earnings per share (EPS) for the quarter improved to Rs 8.62 versus Rs 6.56 last year, reflecting solid earnings expansion. Long-Term Borrowing Decline: The balance sheet shows a significant strengthening compared to June 2025. Long-term borrowings declined from Rs 13.43 bn to Rs 6.13 bn, reflecting aggressive deleveraging. This explains the sharp drop in finance costs. Equity Increased & Book Value Increased: Total equity increased from Rs 99.6 bn in June 2025 to Rs 117.0 bn, and Book value increased to Rs 267/sh in December 2025, driven by higher retained earnings. Liquidity improved substantially, with short-term investments rising sharply and cash balances increasing from under Rs 1 bn to over Rs 2.4 bn. The company is now in a much stronger financial position compared to last year.
Link: https://www.linkedin.com/in/mahsan178/