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
Rahul Hans

Maple Leaf Cement: Q3 FY 20 review: Lower retention prices drag company into gross losses again

Maple Leaf Cement (MLCF) posted 3QFY20 unconsolidated NLAT of PKR1.28bn (LPS: PKR1.17), almost in line with our estimated loss of PKR1.33bn (LPS: PKR1.21). This takes 9MFY20 LPS to PKR4.38. Despite marked improvement in cement dispatches (up 86% yoy in local market), the yoy decline in 2QFY20 profitability is mainly led by (i) lower retention prices due to significant price cuts following its expansion, (ii), higher fixed cost of the new plant, and (iii) 2.6x yoy increase in finance cost from...

Rahul Hans

Pakistan Cements - Factors for a turnaround are well positioned

We think that the present lockdown will keep cement demand below full potential until the end of 1HFY21. Thereafter, a strong rebound in demand growth and profit margins seems more probable given an earlier-than-expected start of monetary easing and government’s stimulus for the construction sector, in our view. During FY21f, Cement producers will have greater willingness and ability to raise prices (or trim discounts) at the prospect of rising economic growth and government focus on low-cost...

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...

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. ...

Rahul Hans

Maple Leaf Cement: Q3 FY 20 review: Lower retention prices drag company into gross losses again

Maple Leaf Cement (MLCF) posted 3QFY20 unconsolidated NLAT of PKR1.28bn (LPS: PKR1.17), almost in line with our estimated loss of PKR1.33bn (LPS: PKR1.21). This takes 9MFY20 LPS to PKR4.38. Despite marked improvement in cement dispatches (up 86% yoy in local market), the yoy decline in 2QFY20 profitability is mainly led by (i) lower retention prices due to significant price cuts following its expansion, (ii), higher fixed cost of the new plant, and (iii) 2.6x yoy increase in finance cost from...

Rahul Hans

Pakistan Cements - Factors for a turnaround are well positioned

We think that the present lockdown will keep cement demand below full potential until the end of 1HFY21. Thereafter, a strong rebound in demand growth and profit margins seems more probable given an earlier-than-expected start of monetary easing and government’s stimulus for the construction sector, in our view. During FY21f, Cement producers will have greater willingness and ability to raise prices (or trim discounts) at the prospect of rising economic growth and government focus on low-cost...

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...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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