Maple Leaf Cement Factory Ltd.

Maple Leaf Cement Factory is engaged in the production and sale of white cement, grey cement and clinker. Co. is a subsidiary of Kohinoor Textile Mills Limited.
  • TickerMLCF
  • ISINPK0066201010
  • ExchangePakistan Stock Exchange
  • SectorConstruction & Materials
  • CountryPakistan

Analysts

Shahrukh Saleem

MLCF_1HFY20 LPS clocked in at PKR1.61 , (AKD, Off the Analyst's Desk, Feb 26, 2020)

MLCF: 1HFY20 LPS clocked in at PKR1.61   ·         Maple Leaf Cement Factory (MLCF) announced results for 1HFY20 where company posted consolidated LAT of PKR1.8bn (LPS: PKR1.61) against PAT of PKR1.4bn (EPS: PKR1.22) for 1HFY19. For 2QFY20, LAT clocked in at PKR785mn (LPS: PKR0.71), witnessing a sequential improvement after LAT stood at PKR982mn (LPS: PkR0.89) for 1QFY20. Though the situation on YoY basis remains weak against a PAT of PkR748mn (EPS: PKR0.68) for 2QFY19. ·         Gross margins improved sequentially to 5.5% for 2QFY20 against 1.7% in 1QFY20 on the back of a combinat...

Team AKD Research

AKD STOCK SMART, Feb 14, 2020

StockSmart                        Weekly Review                                 Week started with market witnessing a major sell-off (KSE-100 down 847pts) amid fears of global growth slowdown as cases of coronavirus increased however subsequent slowdown in incremental cases helped return some confidence and market posted positive moves in subsequent session. Momentum was carried through to mid-week with news of smooth progress in discussions with IMF while improvements on political front also provided support after fruitful discussions took place between govt. and some of its allies.  Week ...

Shahrukh Saleem

Pakistan Cement: Downcycle continues in 2QFY20, (AKD Daily, Jan 22, 2020)

Pakistan Cement: Downcycle continues in 2QFY20 AKD Cement universes’ profitability is expected to remain in negative territory for 2QFY20 as price competition among local players led to prices going down by PkR70-90/bag during the period. Finance cost is going to be a drag on earnings of our universe for 2QFY20 as increasing debt to finance capacity additions and working capital will take interest cover down to 1.2x for 2QFY20 vs. 5.8x in 2QFY19. High leveraged players are worst placed in the current fickle environment  and are slated to post losses in 2QFY20  while companies with low le...

Shahrukh Saleem

MLCF: Near term pain before situation improves, (AKD Daily, Dec 27, 2019)

We update our investment case for Maple Leaf Cement Ltd (MLCF) with our Dec’20 TP of PkR24.4/sh implying a Sell stance as near term weak sector dynamics are expected to weigh significantly on profitability. Though retail prices in North have considerably improved compared to 1QFY20, high discounting is expected to mitigate the impact — as evident by difference between PBS and MLCF’s realized prices standing at 16.9% in 1QFY20 against 6.2%/10.8 for FY18/19. Recent right issue of PkR6.1bn by MLCF is expected to decrease the debt burden significantly. However, commencement of debt repayment af...

Shahrukh Saleem

Pakistan Cements_Nov'19_Local sales increased by 6%YoY,(AKD Daily, De 05, 2019)

Local cement sales for Nov’19 increased by 6.0%YoY where both regions witnessed contrasting trends, as North increased by 13.1%YoY while South posted a decline of 20.3%YoY. For 5MFY20, total dispatches increased by 6.3%YoY where major growth was witnessed in exports of 21.7%YoY followed by 3.5%YoY rise in local dispatches. Growth in dispatches can mainly be attributed to demand from private sector where housing schemes resuming and to a certain extent commencing construction, played a part. However seasonality weighed on Nov’19 local dispatches, with a sequential decline in local sales of 15...

Insider sold: A director sold 1,850,000 shares at 126.205PKR and

A director at Maple Leaf Cement Factory sold 1,850,000 shares at 126.205PKR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. ...

Shahrukh Saleem

MLCF_1HFY20 LPS clocked in at PKR1.61 , (AKD, Off the Analyst's Desk, Feb 26, 2020)

MLCF: 1HFY20 LPS clocked in at PKR1.61   ·         Maple Leaf Cement Factory (MLCF) announced results for 1HFY20 where company posted consolidated LAT of PKR1.8bn (LPS: PKR1.61) against PAT of PKR1.4bn (EPS: PKR1.22) for 1HFY19. For 2QFY20, LAT clocked in at PKR785mn (LPS: PKR0.71), witnessing a sequential improvement after LAT stood at PKR982mn (LPS: PkR0.89) for 1QFY20. Though the situation on YoY basis remains weak against a PAT of PkR748mn (EPS: PKR0.68) for 2QFY19. ·         Gross margins improved sequentially to 5.5% for 2QFY20 against 1.7% in 1QFY20 on the back of a combinat...

Team AKD Research

AKD STOCK SMART, Feb 14, 2020

StockSmart                        Weekly Review                                 Week started with market witnessing a major sell-off (KSE-100 down 847pts) amid fears of global growth slowdown as cases of coronavirus increased however subsequent slowdown in incremental cases helped return some confidence and market posted positive moves in subsequent session. Momentum was carried through to mid-week with news of smooth progress in discussions with IMF while improvements on political front also provided support after fruitful discussions took place between govt. and some of its allies.  Week ...

Shahrukh Saleem

Pakistan Cement: Downcycle continues in 2QFY20, (AKD Daily, Jan 22, 2020)

Pakistan Cement: Downcycle continues in 2QFY20 AKD Cement universes’ profitability is expected to remain in negative territory for 2QFY20 as price competition among local players led to prices going down by PkR70-90/bag during the period. Finance cost is going to be a drag on earnings of our universe for 2QFY20 as increasing debt to finance capacity additions and working capital will take interest cover down to 1.2x for 2QFY20 vs. 5.8x in 2QFY19. High leveraged players are worst placed in the current fickle environment  and are slated to post losses in 2QFY20  while companies with low le...

Shahrukh Saleem

MLCF: Near term pain before situation improves, (AKD Daily, Dec 27, 2019)

We update our investment case for Maple Leaf Cement Ltd (MLCF) with our Dec’20 TP of PkR24.4/sh implying a Sell stance as near term weak sector dynamics are expected to weigh significantly on profitability. Though retail prices in North have considerably improved compared to 1QFY20, high discounting is expected to mitigate the impact — as evident by difference between PBS and MLCF’s realized prices standing at 16.9% in 1QFY20 against 6.2%/10.8 for FY18/19. Recent right issue of PkR6.1bn by MLCF is expected to decrease the debt burden significantly. However, commencement of debt repayment af...

Shahrukh Saleem

Pakistan Cements_Nov'19_Local sales increased by 6%YoY,(AKD Daily, De 05, 2019)

Local cement sales for Nov’19 increased by 6.0%YoY where both regions witnessed contrasting trends, as North increased by 13.1%YoY while South posted a decline of 20.3%YoY. For 5MFY20, total dispatches increased by 6.3%YoY where major growth was witnessed in exports of 21.7%YoY followed by 3.5%YoY rise in local dispatches. Growth in dispatches can mainly be attributed to demand from private sector where housing schemes resuming and to a certain extent commencing construction, played a part. However seasonality weighed on Nov’19 local dispatches, with a sequential decline in local sales of 15...

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