Lucky Core Industries: Two Companies, One Ticker
Lucky Core Industries (formerly ICI Pakistan) runs five segments under one ticker: a commodity-chemicals side in Soda Ash and Polyester, roughly 65% of revenue, under pressure from Chinese overcapacity and tariff liberalisation, and a healthcare side in Pharmaceuticals and Animal Health, roughly 24% of revenue, that has become the profit engine since the September 2024 Pfizer Pakistan asset acquisition. This preview explains why the FY26 profit mix, not the headline earnings decline, is the question worth understanding.