Thatta Cement approves EV venture, plans affordable Chinese imports
The board approved investment in a wholly owned subsidiary to initially import fully assembled EVs from China. FY26 consolidated profit after tax fell to Rs2.28 billion.
At a glance
- The board approved an investment in the EV business on 4 November.
- The subsidiary will initially import fully assembled electric vehicles from China.
- FY26 consolidated profit after tax declined 2.9% to Rs2.28 billion.
- A Rs0.50 per share dividend was recommended for minority shareholders.
Key facts
- Initial EV business
- Import fully assembled vehicles from China
- Through a wholly owned subsidiary
- FY26 consolidated profit after tax
- Rs2.28 billion
- Down approximately 2.9% from FY25
- Recommended dividend
- Rs0.50 per share
- For minority shareholders
Thatta Cement Company THCCL approved an investment to enter Pakistan's electric vehicle business through a wholly owned subsidiary, with the board making the decision at a meeting on 4 November 2026. The subsidiary will initially import completely built-up electric vehicles from China.
The venture is intended to serve buyers looking for compact, more affordable vehicles rather than the premium segment. The company said the business could later extend to local assembly and other related operations.
The board decision came alongside the company's FY2026 results for the year ended 30 June. Consolidated net sales rose to Rs11.93 billion from Rs9.44 billion, while profit after tax declined to Rs2.28 billion from Rs2.34 billion.
| Item | FY2026 | FY2025 |
|---|---|---|
| Net sales | Rs11.93 billion | Rs9.44 billion |
| Profit after tax | Rs2.28 billion | Rs2.34 billion |
| Earnings per share | Rs4.80 | Rs5.66 |
| Finance costs | Rs681.27 million | Rs202.72 million |
The board also recommended a cash dividend of Rs0.50 per share, equivalent to 25%, for minority shareholders. Majority shareholders agreed to waive their dividend entitlements for the financial year.
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This story was produced by the Investify News Desk with automated tools and checked against the sources listed. Report an error: support@investify.pk. Editorial policy
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