Karachi: Pakistan's cement sector experienced a 3% year-on-year decrease in offtakes, totaling 4.14 million tons in November 2025. This decline was primarily due to a 27% drop in exports, according to a recent industry analysis.

The report by AKD Securities Limited highlighted a decrease in industry-wide utilization, which fell to 60%, down from 62% in the same period last year. This reduction underscores the challenges faced by the industry in maintaining production levels amid weaker export demand.

Despite these challenges, there is an optimistic outlook for domestic cement dispatches. Analysts project an increase of 7.3% year-on-year in fiscal year 2026 and 8.4% in fiscal year 2027. This anticipated growth is attributed to a revival in domestic activity, spurred by a fall in interest rates.

Investment recommendations from the report pointed to leading companies expected to perform well in the coming years. These include Lucky Cement with a target price of 558.6 Pakistani Rupees per share by June 2026, DG Khan Cement Company at 320.9 Pakistani Rupees per share, and Fauji Cement Company Limited at 76.8 Pakistani Rupees per share.

The cement industry in Pakistan continues to navigate a complex landscape, balancing domestic growth prospects with challenges in the export market.