Lahore March 2 2022: Bestway cement is carrying out two expansion one at Paikhel and the other one at Hattar to increase its cement capacity by 14,400 tons per day or 4.32 million tons annually of clinker as per company’s filling at the exchange.
As per APCMA, Bestway has installed capacity of 4.8 million tons of clinker production which will increase to 9.1 million ton after the expansions.
Work on Green¬eld cement plant of 7,200 tonnes of clinker per day along with 9 MWs Waste Heat Recovery Power Plant near Paikhel, District Mianwali is well underway. We envisage that the plant will be operational by the end of calendar year 2022.
Work has also commenced on the brown¬eld line of 7,200 tonnes of clinker per day along with 9 MWs Waste Heat Recovery Power Plant at Hattar site. All necessary regulatory approvals and ¬financial arrangements have been secured and we expect the plant to be operational by 30 June 2023.
Cement manufacturing is an energy-intensive process. Power represents one of the largest costs of production. Persistent power shortages in the past and ever-increasing power tari s necessitated a shift away from the national grid. As part of its strategy to reduce its reliance on the national grid, your Company set up Waste Heat Recovery Power Plant (WHRPP) at all four sites Chakwal, Hattar, Farooqia and Kallar Kahar. Bestway’s WHRPP at Chakwal was the ¬rst in the cement industry of Pakistan prompting others to follow suit.
Building on the legacy of being an environmentally conscious Company, you will be delighted to know that solar power plants at all four locations are now fully operational. Our total capacity of 50.9 MWs is the largest distributed captive power generation capacity to date, not only in Pakistan but in the entire region. Bestway intends to enhance its solar power generation capacity at all four plants in the near future. The solar power generation has not only reduced your Company’s reliance on the national grid further but has also enabled it to reduce its carbon foot print by more than 1.7 million Tonnes of CO2 emissions over the life of the project, which is equal to plantation of approximately 2.7 million trees. Company’s WHRPP along with its solar power generation makes it a forerunner in adopting green and renewable energy.
The Company recorded gross turnover of PKR 48.4 billion in the half year ended 31 December 2021, 19 percent higher compared with PKR 40.7 billion during the same period of last year. Net turnover for the period increased by 25 percent, from PKR 26.7 billion to PKR 33.5 billion; driven by better selling prices. Resultantly gross pro¬t for the period was reported at PKR 10.4 billion as compared with PKR 7.0 billion during the same period last year. Financial charges decreased to PKR 0.5 billion for the period as against PKR 0.6 billion for the same period last year. This reduction was driven by lower average borrowing cost as compared with last year. Pro¬t before tax amounted to PKR 9.3 billion as compared to PKR 6.3 billion for the half year ended 31 December 2021. Pro¬t after taxation for the period amounted to PKR 6.6 billion as compared to PKR 4.7 billion for the same period last year. Earnings per share of the Company for the period stood at PKR 11.01 as against PKR 7.85 for the same period last year.
Bestway Cement Limited is a public limited company incorporated in Pakistan on 22 December 1993 under the Companies Ordinance, 1984 (repealed with the enactment of the Companies Act, 2017 on 30 May 2017). The Company is principally engaged in production and sale of cement. The Company is a subsidiary of Bestway International Holdings Limited (BIHL), which holds 56.43% shares in the Company.