Lucky Cement Limited (LUCK) posted an unconsolidated net profit after tax (NPAT) of Rs3.13 billion (EPS: Rs9.68) for 4QFY15, exhibiting a decline of one percent YoY against NPAT of Rs3.16 billion (EPS: Rs9.77) for 4QFY14, primarily due to a higher effective tax rate of 31.1% for 4QFY15 due to super tax imposition and accelerated depreciation in earlier periods (relief on the installation of vertical grinding mill and waste heat recovery plant). However, on a pre-tax basis, the company has posted a growth of 12%YoY during 4QFY15 underpinned by: 1) gross margin of 47.4% due to declining coal prices and installation of 5MW Waste heat recovery plant and 2) a 28%YoY decline in distribution costs, due to lower oil prices. Subsequently, FY15 earnings grew to Rs12.43 billion (EPS: Rs38.44) as compared to Rs11.34 billion (EPS: Rs35.08) for FY14, up by 10%YoY. The company has also declared a dividend of Rs9.00/share alongside the result announcement.