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Displaying items by tag: Dewan Cement

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Dewan Cement commissions solar system at Dhabeji plant

14 July 2025

Pakistan: Dewan Cement has commissioned a 6MW solar power system at its Dhabeji plant in Karachi, the company disclosed to the Pakistan Stock Exchange. The system now reportedly provides over 50% of the plant’s operational energy requirements. The company said that the investment in renewable energy would improve energy security and deliver cost savings amid rising fuel prices.

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Dewan Cement releases 2024 quarterly results

03 October 2024

Pakistan: Dewan Cement reported a profit after tax of US$329,000 for the quarter ending June 2024, marking a 47% year-on-year decline compared to US$619,000 earned in the same period in 2023. Despite a significant improvement in gross margins, the company recorded a net loss of US$1.83m for the full financial year 2024, slightly less than the US$2.11m loss in the financial year 2023. Quarterly sales rose by 3.4% to US$19.14m, with gross profit increasing significantly by 106.5% to US$1.06m in the quarter.

Published in Global Cement News
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Dewan Cement reduces loss in 2023 financial year

28 September 2023

Pakistan: Dewan Cement’s turnover rose by 22% year-on-year to US$69.8m in the year to 30 June 2023 from US$57.1m in the same period that ended in 2022. Its cost of sales increased by 29% to US$68.3m from US$52.8m. It reported a loss of US$2.03m compared to US$2.43m previously.

Published in Global Cement News
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Ghazanfar Baber Siddiqi appointed as head of Dewan Cement

21 December 2022

Pakistan: Dewan Cement has appointed Ghazanfar Baber Siddiqi appointed as its chief executive officer (CEO). He succeeds Ishtiaq Ahmad in the position.

Ghazanfar Baber Siddiqui holds 25 years of professional experience including 14 years of managing different product lines for the Pakistan-based subsidiary of ICI. He has worked for Yousuf Dewan Companies for around 10 years, serving as the chair of Dewan Textile Mills during this time. He holds a master’s degree in inorganic chemistry from the University of Karachi and a master in business administration (MBA) in marketing from the International University in Missouri, US.

Published in People
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Dewan Cement's turnover and loss rise in first quarter of 2023 financial year

26 October 2022

Pakistan: Dewan Cement recorded US$16.2m in turnover during the first quarter of its 2023 financial year, up by 17% year-on-year from US$13.9m in the first quarter of the 2022 financial year. Its cost of sales also rose, by 41% to US$17.7m from US$12.5m. As such, the producer's loss more than doubled to US$3.13m, from US$1.32m in the first quarter of the 2022 financial year.

Published in Global Cement News
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Hazrat Ali appointed as Chief Financial Officer of Dewan Cement

05 October 2022

Pakistan: Dewan Cement has appointed Hazrat Ali as its chief financial officer. He succeeds Imran Ahmed Javed in the role. The cement producer operates two plants.

Published in People
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Ishtiaq Ahmed appointed as head of Dewan Cement

27 July 2022

Pakistan: Dewan Cement has appointed Ishtiaq Ahmed as its chief executive officer (CEO). He succeeds Malik Bilal Omar in the position. Ishtiaq Ahmed was previously appointed as the company’s chair in 2018. Waseem-ul-Haque Ansari has also been appointed as a director in place of the departing CEO.

Published in People
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Dewan Cement and Lucky Cement called before environmental hearings

21 October 2020

Pakistan: The Sindh Environmental Protection Agency (SEPA) has arranged hearings on 21 October 2020 over alleged environmental protection regulation violations by Dewan Cement and Lucky Cement at their respective Kamilpur and Karachi cement plants in the province. The provincial agency, “has expedited its monitoring activities throughout the province to manage different types of pollution at their source.”

Published in Global Cement News
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Dewan Cement rejects takeover bid by Mega Conglomerate

14 May 2018

Pakistan: Dewan Cement has rejected a takeover bid by Mega Conglomerate to buy a 87.5% stake in it. Chairman Dewan Mohammad Yousuf Farooqui turned down the offer following a valuation of the company, according to the Pakistan Today newspaper. The valuation reported that the value of the cement producer was below the initial offer made by Mega Conglomerate due to low capacity utilisation rates at Dewan’s plants and the need for investment at the sites. Dewan Cement has claimed that negotiations are still on going.

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Mega Conglomerate to buy Dewan Cement

01 February 2018

Pakistan: Mega Conglomerate says it plans to buy an 87.5% stake in Dewan Cement. The buyer operates in the dairy and real estate sectors. Dewan Cement operates two cement plants. Bestway Cement and Fecto Cement have previously made bids for Dewan Cement.

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