Report
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...
Underlying
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.

Provider
Tellimer
Tellimer

Tellimer provides an integrated suite of services focused on the world's developing markets. It offers world class investment research and local insights; end-to-end content distribution and analytics; market execution and corporate access; brokerage services across Fixed Income and Equities; and expert advisory services.

Tellimer is headquartered in London, UK, with additional offices in Dubai, Lagos, Nairobi, New York and Singapore. It is a division of Exotix Partners LLP.

Analysts
Rahul Hans

Other Reports on these Companies
Other Reports from Tellimer
Other Reports from these Analysts

ResearchPool Subscriptions

Get the most out of your insights

Get in touch