⏸️ MLCF: HOLD Signal (6/10) – MLCF-Financial Results for the Quarter Ended 30.09.2025

📌 Key Takeaways

• 📈 Revenue increased to PKR 16,483.361 million, up from PKR 15,719.838 million in Q3 2024.
• 💰 Gross profit improved to PKR 5,591.609 million compared to PKR 4,962.677 million year-over-year.
• ⚠️ Selling and distribution expenses decreased significantly to PKR 774.268 million from PKR 1,347.200 million.
• 📉 Administrative expenses increased slightly to PKR 586.878 million from PKR 586.171 million.
• ❌ No cash dividend, bonus shares, or right shares were declared for the quarter.
• 💸 Finance cost decreased to PKR 396.710 million from PKR 674.512 million.
• 📊 Profit before income tax increased substantially to PKR 4,050.784 million from PKR 2,099.315 million.
• ✅ Profit for the period rose to PKR 2,728.238 million, up from PKR 1,342.410 million.
• ⭐ Earnings per share increased to PKR 2.60 from PKR 1.28.
• ↔️ Long-term loans from financial institutions decreased to PKR 8,743.976 million from PKR 9,781.639 million.
• 🏦 Cash and bank balances increased to PKR 2,194.266 million from PKR 1,861.551 million.
• ⚠️ Finance cost – net decreased to PKR 335.338 million compared to PKR 638.536 million year-over-year.
• ❌ No other entitlement/corporate action was recommended by the board.
• ✅ Total Equity increased to PKR 75,144.601 million compared to PKR 70,959.286 million

🎯 Investment Thesis

HOLD. Maple Leaf Cement shows improved profitability and financial stability. The increased EPS is a positive sign. However, further sector analysis and valuation are required to determine the potential for significant upside. A HOLD recommendation is appropriate until a more thorough analysis can be conducted.