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...
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.


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Rahul Hans

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