THCCL Thatta Cement Company Limited
Latest results: FY2025 · Jun 2025 Q3 FY2026 · Jan – Mar 2026
Last close · 16 Oct 2026
Rs 66.14 -1.17%
Quarterly · Q4 FY2021 – Q3 FY2026
Thatta Cement Company Limited (THCCL) quarterly cash flow statement
Operating activities generated -Rs 75.3 mn of cash in Q3 FY2026 (Jan – Mar 2026), -9% of the starting profit. Capital expenditure was Rs 245.3 mn, leaving free cash flow of -Rs 320.6 mn. Dividends paid to shareholders came to Rs 51.7 mn. Overall, cash decreased by Rs 724.2 mn.
| Rs mn | TTM to Mar 2026 | Q3 FY2026 Jan – Mar 2026 | Q2 FY2026 Oct – Dec 2025 | Q1 FY2026 Jul – Sep 2025 | Q4 FY2025 Apr – Jun 2025 | Q3 FY2025 Jan – Mar 2025 | Q2 FY2025 Oct – Dec 2024 | Q1 FY2025 Jul – Sep 2024 | Q4 FY2024 Apr – Jun 2024 | Q3 FY2024 Jan – Mar 2024 | Q2 FY2024 Oct – Dec 2023 | Q1 FY2024 Jul – Sep 2023 | Q4 FY2023 Apr – Jun 2023 | Q3 FY2023 Jan – Mar 2023 | Q2 FY2023 Oct – Dec 2022 | Q1 FY2023 Jul – Sep 2022 | Q4 FY2022 Apr – Jun 2022 | Q3 FY2022 Jan – Mar 2022 | Q2 FY2022 Oct – Dec 2021 | Q1 FY2022 Jul – Sep 2021 | Q4 FY2021 Apr – Jun 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||||||||||||||
| Profit (cash-flow starting line, as reported) | 3,987.2 | 875.9 | 1,053.4 | 815.8 | 1,242.1 | 660.1 | 674.5 | 862.0 | 921.7 | 815.5 | 305.2 | 231.9 | 313.1 | 146.3 | 71.5 | (93.0) | 62.4 | 14.3 | 21.4 | 26.1 | 121.4 |
| Depreciation & amortisation | 338.5 | 96.0 | 84.5 | 81.8 | 76.2 | 77.2 | 75.9 | 70.0 | 77.0 | 77.5 | 63.6 | 53.1 | 71.6 | 69.1 | 58.3 | 54.8 | 74.5 | 60.0 | 47.0 | 52.7 | 59.0 |
| Net cash from operating activities | 2,072.1 | (75.3) | (198.9) | 559.0 | 1,787.4 | (400.7) | 389.1 | 327.2 | 1,223.2 | 1,284.9 | 621.6 | 494.2 | 304.6 | (246.4) | 602.3 | 51.1 | 879.9 | 42.7 | (158.6) | (212.0) | 154.8 |
| Investing activities | |||||||||||||||||||||
| Capital expenditure | (491.0) | (245.3) | (15.4) | (44.9) | (185.4) | (1,038.3) | (242.8) | (54.8) | (263.9) | (94.0) | (154.7) | (20.1) | (20.6) | (13.7) | (12.3) | (19.5) | (50.9) | (24.7) | (18.3) | (24.7) | (10.8) |
| Net cash from investing activities | (7,300.4) | (618.3) | (6,805.6) | (45.0) | 168.4 | 233.7 | (785.1) | (352.2) | (944.9) | 736.1 | (895.6) | (225.4) | 259.1 | 214.8 | (288.5) | (19.2) | (418.6) | (25.9) | (18.3) | (24.7) | (10.8) |
| Financing activities | |||||||||||||||||||||
| Dividends paid | (237.8) | (51.7) | (45.9) | (80.4) | (59.9) | (37.3) | (34.4) | 0.0 | (0.0) | 0.0 | — | — | 0.0 | 0.0 | (0.0) | 0.0 | (0.0) | (0.1) | (24.6) | (0.0) | (0.0) |
| Borrowings raised / (repaid) | — | 21.1 | 5,281.2 | 250.0 | — | 250.0 | (250.0) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (3.6) | 3.6 | (62.6) | (62.6) | (368.6) | (62.6) | 243.4 | — | (62.6) |
| Net cash from financing activities | 5,314.5 | (30.5) | 5,235.3 | 169.7 | (59.9) | 212.7 | (284.4) | 0.0 | 300.0 | (101.2) | (175.3) | 0.0 | (303.6) | 3.6 | (62.6) | (62.6) | (368.6) | (62.7) | 218.8 | (0.0) | (62.6) |
| Net change in cash | 86.2 | (724.2) | (1,769.2) | 683.7 | 1,895.9 | 45.7 | (680.4) | (25.0) | 578.2 | 1,919.8 | (449.4) | 268.7 | 260.0 | (27.9) | 251.2 | (30.7) | 92.7 | (45.9) | 41.9 | (236.8) | 81.3 |
| Key figures | |||||||||||||||||||||
| Free cash flow (operating cash flow − capex) | 1,581.1 | (320.6) | (214.3) | 514.0 | 1,601.9 | (1,439.0) | 146.2 | 272.5 | 959.3 | 1,190.9 | 466.9 | 474.0 | 283.9 | (260.1) | 590.0 | 31.6 | 829.0 | 18.0 | (176.9) | (236.8) | 144.0 |
| Rs mn | Q3 FY2026 Jan – Mar 2026 | Q2 FY2026 Oct – Dec 2025 | Q1 FY2026 Jul – Sep 2025 | Q4 FY2025 Apr – Jun 2025 | Q3 FY2025 Jan – Mar 2025 | Q2 FY2025 Oct – Dec 2024 | Q1 FY2025 Jul – Sep 2024 | Q4 FY2024 Apr – Jun 2024 | Q3 FY2024 Jan – Mar 2024 | Q2 FY2024 Oct – Dec 2023 | Q1 FY2024 Jul – Sep 2023 | Q4 FY2023 Apr – Jun 2023 | Q3 FY2023 Jan – Mar 2023 | Q2 FY2023 Oct – Dec 2022 | Q1 FY2023 Jul – Sep 2022 | Q4 FY2022 Apr – Jun 2022 | Q3 FY2022 Jan – Mar 2022 | Q2 FY2022 Oct – Dec 2021 | Q1 FY2022 Jul – Sep 2021 | Q4 FY2021 Apr – Jun 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||||||||||
| Profit (cash-flow starting line, as reported) | +32.7% | +56.2% | -5.4% | +34.8% | -19.1% | +121.0% | +271.7% | +194.4% | +457.5% | +327.2% | — | +401.7% | +926.3% | +233.3% | -456.3% | -48.6% | -82.7% | -78.7% | +48.6% | — |
| Depreciation & amortisation | +24.4% | +11.3% | +16.8% | -1.0% | -0.4% | +19.4% | +31.9% | +7.5% | +12.3% | +9.1% | -3.1% | -3.9% | +15.1% | +24.1% | +3.9% | +26.3% | +24.9% | -30.3% | +7.9% | +42.6% |
| Net cash from operating activities | — | -151.1% | +70.8% | +46.1% | -131.2% | -37.4% | -33.8% | +301.6% | — | +3.2% | +866.3% | -65.4% | -677.0% | — | — | +468.3% | -85.1% | — | -274.1% | — |
| Investing activities | ||||||||||||||||||||
| Capital expenditure | -76.4% | -93.7% | -17.9% | -29.7% | +1,004.9% | +57.0% | +171.9% | +1,178.0% | +585.9% | +1,158.7% | +3.3% | -59.4% | -44.5% | -33.0% | -21.2% | +369.1% | -12.2% | +59.3% | +1,229.5% | +24.4% |
| Net cash from investing activities | -364.6% | — | — | — | -68.3% | — | — | -464.7% | +242.7% | — | — | — | — | — | — | — | — | — | — | — |
| Financing activities | ||||||||||||||||||||
| Dividends paid | +38.5% | +33.6% | — | +249,483.3% | — | — | — | — | — | — | — | -100.0% | -100.0% | -99.9% | -100.0% | -11.1% | -31.7% | — | -87.9% | -98.0% |
| Borrowings raised / (repaid) | -91.6% | — | — | — | — | — | — | — | -100.0% | — | — | — | — | -125.7% | — | — | — | — | — | — |
| Net cash from financing activities | -114.4% | — | — | -120.0% | — | — | — | — | -2,895.4% | — | — | — | — | -128.6% | — | — | — | — | — | — |
| Net change in cash | -1,683.3% | — | — | +227.9% | -97.6% | — | -109.3% | +122.4% | — | -278.9% | — | +180.6% | — | +500.2% | — | +13.9% | -117.8% | — | -297.5% | — |
| Key figures | ||||||||||||||||||||
| Free cash flow (operating cash flow − capex) | — | -246.6% | +88.7% | +67.0% | -220.8% | -68.7% | -42.5% | +237.9% | — | -20.9% | +1,397.9% | -65.8% | -1,543.9% | — | — | +475.8% | -93.0% | — | -297.4% | — |
Change against the same quarter a year earlier; shown when the earlier figure is positive.
Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. TTM = the latest four quarters added together. Updated 17 Oct 2026.
All reported line items 60
| Rs mn | Q3 FY2026 Jan – Mar 2026 | Q2 FY2026 Oct – Dec 2025 | Q1 FY2026 Jul – Sep 2025 | Q4 FY2025 Apr – Jun 2025 | Q3 FY2025 Jan – Mar 2025 | Q2 FY2025 Oct – Dec 2024 | Q1 FY2025 Jul – Sep 2024 | Q4 FY2024 Apr – Jun 2024 | Q3 FY2024 Jan – Mar 2024 | Q2 FY2024 Oct – Dec 2023 | Q1 FY2024 Jul – Sep 2023 | Q4 FY2023 Apr – Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit/(Loss) - Starting Line - Cash Flow | 875.9 | 1,053.4 | 815.8 | 1,242.1 | 660.1 | 674.5 | 862.0 | 921.7 | 815.5 | 305.2 | 231.9 | 313.1 |
| Non-cash Items & Reconciliation Adjustments - Cash Flow | 222.2 | 88.8 | 177.7 | 40.9 | 221.4 | 95.7 | 127.1 | 165.2 | 188.3 | 132.6 | 112.2 | 39.3 |
| Other Non-Cash Items & Reconciliation Adjustments - Cash Flow - to Reconcile | (44.9) | (204.4) | 63.0 | (70.1) | 51.4 | 6.2 | (2.6) | 35.0 | 63.0 | 35.6 | 1.2 | (45.2) |
| Financial Income/(Expense) - Cash Flow - to Reconcile | 181.3 | 200.2 | 32.8 | 34.8 | 52.7 | 53.7 | 61.5 | 57.4 | 59.5 | 61.3 | 62.6 | 55.8 |
| Depreciation, Depletion & Amortization including Impairment - Cash Flow - to Reconcile | 96.0 | 84.5 | 81.8 | 76.2 | 77.2 | 75.9 | 70.0 | 77.0 | 77.5 | 63.6 | 53.1 | 71.6 |
| Depreciation & Depletion - Property, Plant & Equipment - Cash Flow - to Reconcile | 95.8 | 84.2 | 81.5 | 75.9 | 76.9 | 75.6 | 69.7 | 76.7 | 77.2 | 63.3 | 52.8 | 71.3 |
| Amortization - Intangible Assets & Deferred Charges - Cash Flow - to Reconcile | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
| Assets Sale - Gain/(Loss) - Cash Flow - to Reconcile | (10.3) | 8.5 | 0.0 | 0.0 | 25.1 | (25.1) | (1.8) | (4.3) | (11.7) | (27.9) | (4.7) | (42.9) |
| Financial Assets - Unrealized Gain/(Loss) - Cash Flow - to Reconcile | — | — | — | — | 15.0 | (15.0) | — | — | — | — | — | — |
| Income Taxes - Paid/(Reimbursed) - Cash Flow | 233.3 | 366.7 | 184.4 | 215.3 | 160.0 | 502.0 | 47.7 | 48.8 | 106.4 | 12.4 | 3.5 | 14.9 |
| Interest Paid - Cash | 8.3 | 18.1 | 5.6 | 17.4 | 9.2 | 19.9 | 19.0 | 11.8 | 15.4 | 12.9 | 14.2 | 7.3 |
| Cash Flow from Operating Activities before Changes in Working Capital | 856.4 | 757.5 | 803.4 | 1,050.3 | 712.3 | 248.3 | 922.4 | 1,026.3 | 882.0 | 412.6 | 326.4 | 330.2 |
| Working Capital - Increase/(Decrease) - Cash Flow | (931.7) | (956.4) | (244.5) | 737.0 | (1,113.0) | 140.8 | (595.2) | 196.9 | 402.9 | 209.0 | 167.8 | (25.7) |
| Accounts Receivables - Decrease/(Increase) - Cash Flow | 942.3 | (1,046.4) | (383.8) | (42.5) | (201.6) | (76.3) | (392.4) | 196.9 | 25.5 | 23.2 | (54.5) | 95.6 |
| Inventories - Decrease/(Increase) - Cash Flow | (1,609.1) | 31.2 | (5.1) | 135.6 | (629.4) | (45.8) | 51.9 | 21.7 | 30.2 | 302.9 | 331.0 | (28.4) |
| Prepaid Expenses - Decrease/(Increase) - Cash Flow | 14.2 | 1.5 | (30.2) | 30.3 | 7.3 | 2.7 | (24.7) | 7.7 | 11.0 | 11.4 | (31.8) | 198.6 |
| Accounts Payable and Accrued Expenses - Increase/(Decrease) - Cash Flow | (279.1) | 57.3 | 174.6 | 613.6 | (289.3) | 260.2 | (230.0) | (29.3) | 336.2 | (128.5) | (76.9) | (291.5) |
| Net Cash Flow from Operating Activities | (75.3) | (198.9) | 559.0 | 1,787.4 | (400.7) | 389.1 | 327.2 | 1,223.2 | 1,284.9 | 621.6 | 494.2 | 304.6 |
| Capital Expenditures - Net - Cash Flow | 239.8 | 15.4 | 44.9 | 185.4 | 1,038.3 | 242.8 | 53.0 | 259.6 | 80.9 | 126.8 | 15.4 | (59.1) |
| Property, Plant & Equipment - Purchased/(Sold) - Net - Cash Flow | 239.8 | 15.4 | 44.9 | 185.4 | 1,038.3 | 242.8 | 53.0 | 259.6 | 80.9 | 126.8 | 15.4 | (59.1) |
| Property, Plant & Equipment - Purchased - Cash Flow | 245.3 | 15.4 | 44.9 | 185.4 | 1,038.3 | 242.8 | 54.8 | 263.9 | 94.0 | 154.7 | 20.1 | 20.6 |
| Property, Plant & Equipment Sold - Cash Flow | 5.5 | — | 0.0 | 0.0 | 0.0 | 0.0 | 1.8 | 4.3 | 13.1 | 27.9 | 4.7 | 79.8 |
| Intangible Assets - Purchased/(Sold) - Net - Total - Cash Flow | — | — | — | — | — | — | — | — | — | — | — | 0.0 |
| Intangible Assets - Purchased/Acquired - Cash Flow | — | — | — | — | — | — | — | — | — | — | — | 0.0 |
| Capital Expenditures - Total | 245.3 | 15.4 | 44.9 | 185.4 | 1,038.3 | 242.8 | 54.8 | 263.9 | 94.0 | 154.7 | 20.1 | 20.6 |
| Acquisition & Disposals of Business - Assets - Sold/(Acquired) - Net - Cash Flow | (6,476.2) | — | — | — | — | — | — | — | — | — | — | — |
| Acquisition of Business - Cash Flow | 6,476.2 | — | — | — | — | — | — | — | — | — | — | — |
| Investments excluding Loans - Decrease/(Increase) - Cash Flow | (378.6) | (313.9) | 0.0 | 603.9 | 781.0 | 95.2 | (289.3) | (971.0) | 497.0 | (750.0) | (243.2) | 200.0 |
| Investment Securities - Unclassified - Sold/(Purchased) - Net - Total - Cash Flow | (378.6) | (313.9) | 0.0 | 603.9 | 781.0 | 95.2 | (289.3) | (971.0) | 497.0 | (750.0) | (243.2) | 200.0 |
| Investment Securities - Sold/Matured - Unclassified - Cash Flow | — | — | — | 603.9 | 831.9 | 441.3 | — | — | 497.0 | — | — | 200.0 |
| Investment Securities - Purchased - Unclassified - Cash Flow | 378.6 | 313.9 | 0.0 | — | 50.8 | 346.1 | 289.3 | 971.0 | — | 750.0 | 243.2 | — |
| Investments - Associated Companies & Joint Ventures - Sold/(Purchased) - Cash Flow | 6,476.2 | (6,476.2) | — | 0.0 | 500.0 | (637.5) | — | — | — | — | — | — |
| Other Investing Cash Flow - Decrease/(Increase) | 0.0 | 0.0 | (0.0) | (250.0) | (9.0) | 0.0 | (10.0) | 285.7 | 320.0 | (18.8) | 33.2 | (0.0) |
| Net Cash Flow from Investing Activities | (618.3) | (6,805.6) | (45.0) | 168.4 | 233.7 | (785.1) | (352.2) | (944.9) | 736.1 | (895.6) | (225.4) | 259.1 |
| Dividends Paid - Cash - Total - Cash Flow | 51.7 | 45.9 | 80.4 | 59.9 | 37.3 | 34.4 | 0.0 | 0.0 | 0.0 | — | — | 0.0 |
| Dividends - Common - Cash Paid | 51.7 | 45.9 | 80.4 | 59.9 | 37.3 | 34.4 | 0.0 | 0.0 | 0.0 | — | — | 0.0 |
| Stock - Total - Issuance/(Retirement) - Net - Cash Flow | — | — | — | 0.0 | 0.0 | — | — | 0.0 | (101.2) | (175.3) | — | — |
| Stock - Issuance/(Retirement) - Net - Excluding Options/Warrants - Cash Flow | — | — | — | 0.0 | 0.0 | — | — | 0.0 | (101.2) | (175.3) | — | — |
| Stock - Common - Issuance/(Retirement) - Net - Cash Flow | — | — | — | 0.0 | 0.0 | — | — | 0.0 | (101.2) | (175.3) | — | — |
| Stock - Common - Repurchased/Retired - Cash Flow | — | — | — | 0.0 | 0.0 | — | — | 0.0 | 101.2 | 175.3 | — | — |
| Debt - Long-Term & Short-Term - Issuance/(Retirement) - Total - Cash Flow | 21.1 | 5,281.2 | 250.0 | — | 250.0 | (250.0) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (3.6) |
| Debt - Issued/(Reduced) - Short-Term - Total - Cash Flow | 0.0 | 250.0 | — | — | 250.0 | (250.0) | — | — | — | — | — | — |
| Debt - Issued/Reduced - Long-Term - Cash Flow | 21.1 | 5,031.2 | 250.0 | — | — | — | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (3.6) |
| Debt - Issued - Long-Term - Cash Flow | 35.8 | 5,431.2 | 250.0 | — | — | — | — | — | — | — | — | — |
| Debt - Reduced - Long-Term - Cash Flow | 14.7 | 400.0 | — | — | — | — | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 3.6 |
| Other Financing Cash Flow - Increase/(Decrease) | — | — | — | — | — | — | — | 300.0 | — | — | — | (300.0) |
| Net Cash Flow from Financing Activities | (30.5) | 5,235.3 | 169.7 | (59.9) | 212.7 | (284.4) | 0.0 | 300.0 | (101.2) | (175.3) | 0.0 | (303.6) |
| Net Change in Cash - Total | (724.2) | (1,769.2) | 683.7 | 1,895.9 | 45.7 | (680.4) | (25.0) | 578.2 | 1,919.8 | (449.4) | 268.7 | 260.0 |
| Net Cash from Continuing Operations | (724.2) | (1,769.2) | 683.7 | 1,895.9 | 45.7 | (680.4) | (25.0) | 578.2 | 1,919.8 | (449.4) | 268.7 | 260.0 |
| Net Cash - Beginning Balance | 2,945.9 | 4,715.1 | 4,031.4 | 2,135.5 | 2,089.8 | 2,770.2 | 2,795.3 | 2,217.0 | 297.2 | 746.6 | 477.8 | 217.8 |
| Net Cash - Ending Balance | 2,221.7 | 2,945.9 | 4,715.1 | 4,031.4 | 2,135.5 | 2,089.8 | 2,770.2 | 2,795.3 | 2,217.0 | 297.2 | 746.6 | 477.8 |
| Income Taxes - Paid/(Reimbursed) - Cash Flow - Supplemental | 233.3 | 366.7 | 184.4 | 215.3 | 160.0 | 502.0 | 47.7 | 48.8 | 106.4 | 12.4 | 3.5 | 14.9 |
| Interest Paid - Cash Flow - Supplemental | 8.3 | 18.1 | 5.6 | 17.4 | 9.2 | 19.9 | 19.0 | 11.8 | 15.4 | 12.9 | 14.2 | 7.3 |
| CF from Optg Activities before Change in WC & Int Payments | 864.7 | 775.5 | 809.0 | 1,067.7 | 721.5 | 268.2 | 941.4 | 1,038.1 | 897.4 | 425.5 | 340.5 | 337.5 |
| Cash Dividends Paid & Common Stock Buyback - Net | — | — | — | 59.9 | 37.3 | — | — | 0.0 | 101.2 | — | — | — |
| Common Stock Buyback - Net | — | — | — | 0.0 | 0.0 | — | — | 0.0 | 101.2 | 175.3 | — | — |
| Depreciation, Depletion & Amortization - Cash Flow | 96.0 | 84.5 | 81.8 | 76.2 | 77.2 | 75.9 | 70.0 | 77.0 | 77.5 | 63.6 | 53.1 | 71.6 |
| Free Cash Flow to Equity | (294.0) | 5,066.9 | 764.0 | 1,601.9 | (1,189.0) | (103.8) | 274.3 | 963.6 | 1,204.0 | 494.8 | 478.7 | 360.1 |
| Free Cash Flow Net of Dividends | (372.2) | (260.2) | 433.7 | 1,542.0 | (1,476.3) | 111.8 | 272.5 | 959.3 | 1,190.9 | 466.9 | 474.0 | 283.9 |
| Free Cash Flow | (320.6) | (214.3) | 514.0 | 1,601.9 | (1,439.0) | 146.2 | 272.5 | 959.3 | 1,190.9 | 466.9 | 474.0 | 283.9 |
Every line the company reported, in the original order and wording, without regrouping or signs changed. Latest 12 periods; the table above goes back further.