Bestway Cement and Lucky Cement emerged as the leading performers across Pakistan’s cement industry in September 2026 and the first quarter of fiscal year 2026–27 (1QFY27), steering total sector dispatches to 4.62 million tons in September—a 14.5% month-on-month (MoM) and 6.0% year-on-year (YoY) expansion—according to company-wise data compiled by the All Pakistan Cement Manufacturers Association (APCMA) and Integrated Equities Limited (IEL) Research. Cumulative industry dispatches for 1QFY27 reached 13.14 million tons, up 3.9% YoY compared to 12.65 million tons in 1QFY26.
In the domestic market, Bestway Cement led all producers with 0.67 million tons in September 2026 and 1.87 million tons across 1QFY27. Meanwhile, Lucky Cement ranked second in domestic dispatches (0.60 million tons in September; 1.74 million tons in 1QFY27) and first in exports (0.29 million tons in September; 0.78 million tons in 1QFY27), making it the largest overall dispatcher when combining domestic and export volumes.
“Bestway Cement led domestic and Northern dispatches with 0.67 million tons in September 2026 and 1.87 million tons in 1QFY27, while Lucky Cement topped the export chart with 0.29 million tons in September and 0.78 million tons during the first quarter.”
Domestic Market Leaders: Bestway, Lucky, and Fauji Pace Local Recovery
Total domestic dispatches across North and South zones climbed 15.5% MoM and 7.4% YoY to 3.79 million tons in September 2026, bringing cumulative 1QFY27 local sales to 10.85 million tons (+7.8% YoY from 10.06 million tons in 1QFY26).
- Bestway Cement (#1 Domestic): Dispatched 0.67 million tons locally in September 2026, rising 18.7% MoM (from 0.56 million tons in August 2026) and 8.2% YoY (from 0.62 million tons in September 2025). In 1QFY27, Bestway’s local volume grew 12.4% YoY to 1.87 million tons, up from 1.66 million tons in 1QFY26.
- Lucky Cement (#2 Domestic): Recorded 0.60 million tons in September local sales, up 13.1% MoM (from 0.53 million tons) and 5.8% YoY (from 0.56 million tons). Its 1QFY27 domestic volume advanced 8.0% YoY to 1.74 million tons from 1.61 million tons a year ago.
- Fauji Cement (#3 Domestic): Secured the third position in domestic sales with 0.52 million tons in September 2026, posting a 19.4% MoM and 17.4% YoY increase. Cumulative 1QFY27 domestic dispatches rose 17.3% YoY to 1.45 million tons from 1.24 million tons in 1QFY26.
- Maple Leaf Cement (#4 Domestic): Dispatched 0.36 million tons locally in September (+19.4% MoM, +4.5% YoY), crossing the one-million-ton mark in 1QFY27 at 1.02 million tons (+7.5% YoY from 0.95 million tons).
- D.G. Khan Cement (#5 Domestic): Posted 0.34 million tons in September local sales (+16.4% MoM, +12.4% YoY), taking its 1QFY27 domestic total to 0.96 million tons (+11.1% YoY from 0.86 million tons).
- Mid-Tier & High-Growth Domestic Performers: Kohat Cement dispatched 0.25 million tons in September (+21.4% MoM, +2.2% YoY; 0.68 million tons in 1QFY27), followed by Pioneer Cement at 0.21 million tons (+18.7% MoM, +2.5% YoY; 0.59 million tons in 1QFY27) and Cherat Cement at 0.21 million tons (+15.1% MoM, +7.5% YoY; 0.58 million tons in 1QFY27). Flying Cement recorded the highest percentage YoY local jump in September at +95.3% YoY (0.08 million tons), while Attock Cement local sales surged 34.9% YoY to 0.14 million tons (and +24.9% YoY to 0.41 million tons in 1QFY27). Conversely, Gharibwal Cement (-54.1% YoY to 0.05 million tons) and Thatta Cement (-34.3% YoY to 0.02 million tons) saw domestic contractions.
Export Market Leaders: Lucky and D.G. Khan Dominate Seaborne Trade
Total industry exports stood at 0.83 million tons in September 2026—up 10.0% MoM from 0.76 million tons in August 2026 and unchanged (0.0% YoY) against September 2025. For 1QFY27, total exports declined 11.3% YoY to 2.30 million tons from 2.59 million tons in 1QFY26, as Northern exports remained completely halted at 0.00 million tons while Southern producers drove all overseas shipments.
- Lucky Cement (#1 Exporter): Led the country’s export tally with 0.29 million tons in September 2026, up 27.1% MoM (from 0.23 million tons) and 5.6% YoY (from 0.28 million tons). In 1QFY27, Lucky exported 0.78 million tons, down 3.7% YoY from 0.81 million tons in 1QFY26.
- D.G. Khan Cement (#2 Exporter): Shipped 0.20 million tons overseas in September 2026 (-25.2% MoM from 0.27 million tons, but +17.2% YoY from 0.17 million tons). Its 1QFY27 exports jumped 33.8% YoY to 0.65 million tons, up from 0.49 million tons in 1QFY26.
- Attock Cement (#3 Exporter in Sep-26): Exported 0.18 million tons in September, surging 34.6% MoM and 18.8% YoY, with 1QFY27 exports reaching 0.42 million tons (-14.5% YoY from 0.49 million tons).
- Power Cement (#3 Exporter in 1QFY27): Delivered the fastest export growth in the sector, with September exports skyrocketing 253.3% YoY and 30.3% MoM to 0.15 million tons (up from 0.04 million tons in September 2025). Across 1QFY27, Power Cement’s exports nearly doubled, rising 93.9% YoY to 0.44 million tons from 0.23 million tons.
“Power Cement posted the sharpest export growth in the industry, with overseas shipments surging 253.3% year-on-year in September to 0.15 million tons and climbing 93.9% in 1QFY27 to 0.44 million tons.”
Regional Breakdown: North vs. South Total Dispatches (Local + Export)
Total combined dispatches (Local + Export) in the North reached 3.16 million tons in September 2026 (+17.6% MoM, -2.4% YoY) and 8.95 million tons in 1QFY27 (-1.0% YoY). In the South, combined dispatches surged 30.5% YoY and 8.3% MoM to 1.46 million tons in September, lifting 1QFY27 Southern volume by 16.2% YoY to 4.20 million tons.
- Northern Region Leaders: Bestway Cement led Northern total dispatches with 0.67 million tons in September (+18.7% MoM, +5.6% YoY) and 1.87 million tons in 1QFY27 (+9.6% YoY). Fauji Cement ranked second in the North with 0.52 million tons in September (+19.4% MoM, +0.8% YoY) and 1.45 million tons in 1QFY27 (-3.4% YoY), followed by Lucky Cement’s Northern operations at 0.42 million tons in September (+18.7% MoM, -6.9% YoY) and 1.20 million tons in 1QFY27 (-0.8% YoY), and Maple Leaf Cement at 0.36 million tons in September and 1.02 million tons in 1QFY27 (+1.7% YoY).
- Southern Region Leaders: Lucky Cement topped the Southern region with 0.47 million tons in combined dispatches in September (+16.2% MoM, +20.3% YoY) and 1.31 million tons in 1QFY27 (+9.0% YoY). D.G. Khan Cement and Attock Cement tied for second in September Southern dispatches at 0.32 million tons each (+28.2% YoY and +25.3% YoY, respectively), while in 1QFY27 D.G. Khan Cement held second place in the South with 0.98 million tons (+32.5% YoY), followed by Attock Cement at 0.84 million tons (+1.3% YoY) and Power Cement at 0.81 million tons (+37.9% YoY).
Top Company-Wise Cement Dispatches Snapshot (September 2026 & 1QFY27)
| Company (Million Tons) | Sep-26 Local | 1QFY27 Local (YoY) | Sep-26 Export | 1QFY27 Export (YoY) | Sep-26 North Total | Sep-26 South Total |
|
Bestway Cement
|
0.67
|
1.87 (+12.4%) |
– |
– |
0.67
|
– |
|
Lucky Cement
|
0.60
|
1.74 (+8.0%) |
0.29
|
0.78 (-3.7%) |
0.42
|
0.47
|
|
Fauji Cement
|
0.52
|
1.45 (+17.3%) |
– |
– |
0.52
|
– |
|
Maple Leaf Cement
|
0.36
|
1.02 (+7.5%) |
– |
– |
0.36
|
– |
|
D.G. Khan Cement
|
0.34
|
0.96 (+11.1%) |
0.20
|
0.65 (+33.8%) |
0.23
|
0.32
|
|
Kohat Cement
|
0.25
|
0.68 (+4.4%) |
– |
– |
0.25
|
– |
|
Pioneer Cement
|
0.21
|
0.59 (+6.8%) |
– |
– |
0.21
|
– |
|
Cherat Cement
|
0.21
|
0.58 (+7.2%) |
– |
– |
0.21
|
– |
|
Attock Cement
|
0.14
|
0.41 (+24.9%) |
0.18
|
0.42 (-14.5%) |
– |
0.32
|
|
Power Cement
|
0.12
|
0.37 (+2.2%) |
0.15
|
0.44 (+93.9%) |
– |
0.27
|
|
Industry Total
|
3.79
|
10.85 (+7.8%) |
0.83
|
2.30 (-11.3%) |
3.16
|
1.46
|