Maple Leaf Cement Posts All-Time High Profit of Rs. 5.77 Billion in FY23

Maple Leaf Cement Factory Limited (MLCF) Monday announced its financial results for the financial year ended June 30, 2023.

According to the consolidated financial results, the company posted a profit after tax (PAT) of Rs. 5.77 billion in FY23, up 26.7 percent from the PAT of Rs. 4.55 billion posted in the same period last year.

This is the highest-ever PAT posted by the company during the period in review, according to Arif Habib Limited. MLCF did not announce any dividend payouts to shareholders for the period under review.

The company’s sales during FY23 stood at Rs. 62 billion, up 28 percent compared to Rs. 48.5 billion reported in SPLY. Gross margins came in at 28.3 percent compared to 27.2 percent last year.

Finance cost during FY23 arrived at Rs. 2.38 billion, up 43.5 percent. Distribution cost increased by 34.8 percent to Rs. 2 billion, while net impairment loss on financial assets decreased by 8.8 percent from Rs. 209.9 million to Rs. 191.4 million during the period in review.

Other income of the company skyrocketed by 144.6 percent to Rs. 147.3 million compared to Rs. 60.2 million in SPLY. MLCF paid Rs. 4.92 billion in taxes compared to Rs. 3.58 billion in FY22.

The company reported earnings per share (EPS) of Rs. 5.38 in FY23 compared to EPS of 4.15 reported in SPLY.

MLFC’s scrip at the bourse was closed at Rs. 28.88, down by 0.79 percent or Rs. 0.23 with a turnover of 10,866,031 shares on Thursday.

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