Maple Leaf Cement Factory Limited
By PSX Investors Zone · Updated October 20, 2026
Maple Leaf Cement Factory Limited (PSX: MLCF) is a Pakistani cement manufacturer that produces and sells cement and wall putty. For FY2026, PSX standardized standalone data reports sales of Rs.70.73 billion, profit after tax of Rs.8.45 billion and EPS of Rs.8.06. The company’s FY2026 consolidated results report revenue of Rs.85.15 billion and EPS of Rs.11.34, so investors should distinguish standalone and consolidated figures when comparing performance. MLCF was listed as Shariah-compliant in the PSX KMI-30 review effective June 5, 2026, based on accounts to December 31, 2025. Its PSX profile also displays a Risk Warning Alert concerning potential suspension or delisting, which investors should review carefully.
Company Overview
Maple Leaf Cement Factory Limited (MLCF) is a listed Pakistani cement manufacturer incorporated on April 13, 1960. The company produces and sells cement and wall putty. Its registered office is at 42-Lawrence Road, Lahore, while its cement manufacturing facility is located at Iskanderabad, District Mianwali, Punjab.
MLCF is a subsidiary of Kohinoor Textile Mills Limited. Its business performance is linked to cement demand, construction activity, energy and fuel costs, transportation expenses, interest rates and competition in Pakistan’s cement industry.
Official sources: PSX company profile | Company website
Business Model
MLCF manufactures and sells cement and wall putty for construction and related uses. Investors analysing its business should monitor:
- Cement dispatches and domestic construction demand
- Export volumes and export pricing
- Coal, electricity and other production costs
- Selling prices and regional competition
- Interest expense, debt levels and cash flow
- Capacity utilisation and capital expenditure
- Government infrastructure spending and housing activity
Financial Performance
FY2026: Standalone Results
The PSX standardized financial data reports the following standalone figures for the financial year ended June 30, 2026. Amounts are rounded.
| Financial metric | FY2026 | FY2025 |
|---|---|---|
| Sales | Rs.70.73bn | Rs.68.94bn |
| Profit after tax | Rs.8.45bn | Rs.17.04bn |
| EPS | Rs.8.06 | Rs.16.26 |
| Gross profit margin | 33.85% | 34.44% |
| Net profit margin | 11.94% | 24.71% |
Interpretation: Standalone sales increased moderately, but reported profit and EPS declined considerably compared with FY2025. Investors should investigate the reasons for the previous year’s higher profit, changes in other income, financing costs and any non-recurring items by reviewing the annual financial statements.
Source: Official PSX MLCF profile and financial data
FY2026: Consolidated Results
The FY2026 consolidated results summary reports:
| Financial metric | FY2026 | FY2025 |
|---|---|---|
| Revenue | Rs.85.15bn | Rs.68.65bn |
| Profit for the year | Rs.12.56bn | Rs.11.50bn |
| EPS | Rs.11.34 | Rs.10.98 |
| Operating profit | Rs.24.59bn | Rs.19.05bn |
| Finance cost | Rs.4.59bn | Rs.3.01bn |
Consolidated revenue rose by approximately 24% and consolidated EPS increased by around 3.3%. These results differ from the standalone figures because consolidated accounts include the relevant subsidiaries and consolidation adjustments. Do not combine figures from the two reporting bases in a single year-on-year comparison.
Source: FY2026 results summary and original filing access | PSX announcements
Latest Share Price and Valuation
The PSX profile displayed the following market data on October 20, 2026, at approximately 11:13 AM:
| Indicator | Value |
|---|---|
| Share price | Rs.89.40 |
| P/E ratio (TTM) | 11.09 |
| 52-week high | Rs.132.99 |
| 52-week low | Rs.71.00 |
| One-year price change | -11.83% |
| Year-to-date price change | -23.87% |
These are time-specific figures and can change during trading. Confirm the live quote before publishing or using them in a current valuation comparison.
Source: Official PSX MLCF profile
A P/E ratio should not be considered in isolation. Investors should assess whether earnings are sustainable, whether debt and finance costs are increasing, and how the share valuation compares with cement-sector peers.
Dividend Information
In the board-approved FY2026 financial results announced on July 31, 2026, the company recommended no cash dividend, bonus shares or right shares for that reporting period.
Dividend status can change through subsequent announcements. Check the latest PSX payout records and company notices before publishing a current dividend yield or payout claim.
Sources: FY2026 results summary | Official PSX company profile
Shariah Screening Status
MLCF was listed as Shariah-compliant in the PSX KMI-30 recomposition review effective June 5, 2026, based on financial accounts to December 31, 2025.
The published screening notice reported these ratios:
| Screening measure | Reported value |
|---|---|
| Debt ratio | 7.63% |
| Non-compliant investments ratio | 11.79% |
| Non-compliant income ratio | 0.46% |
| Illiquid assets ratio | 81.07% |
Source: KMI-30 recomposition notice — accounts to December 31, 2025
Important: These results relate to a specific screening period and effective date. Shariah status can change at a subsequent review. Before displaying a current compliance label, check the latest official PSX or authorised index screening notice. This profile does not independently issue a Shariah ruling.
Important PSX Risk Warning Alert
The PSX company profile currently displays a Risk Warning Alert stating that MLCF is in continuous violation of requirements specified in Clauses 5.11.1 or 5.11.2 and carries a risk of trading suspension or delisting.
This warning should be clearly disclosed to readers. It does not, by itself, establish that trading has already been suspended or that the company has been delisted. Investors should review the latest PSX notices and company disclosures to establish the nature of the violation and whether the exchange has taken further action.
Source: Official PSX MLCF profile
Key Risks
- Energy costs: Cement production is energy-intensive, so changes in electricity and fuel prices can affect margins.
- Construction demand: A slowdown in private construction or infrastructure projects can reduce cement demand.
- Interest rates and debt: Higher borrowing costs may pressure earnings and cash flow.
- Pricing competition: Intense competition can limit the ability to pass higher costs on to customers.
- Earnings volatility: Standalone and consolidated results may move differently, and one strong period does not guarantee future performance.
- Regulatory risk: The current PSX Risk Warning Alert requires close attention and verification.
Investor Research Checklist
Before analysing MLCF, review:
- The latest audited annual report and quarterly statements.
- Standalone and consolidated financial results separately.
- Cement dispatches, capacity utilisation and average selling prices.
- Coal, electricity, freight and finance costs.
- Debt, operating cash flow and planned capital expenditure.
- Latest dividend announcements and payout history.
- The newest official Shariah screening notice.
- The current PSX Risk Warning Alert and any related notices.
Frequently Asked Questions
What does MLCF do?
Maple Leaf Cement Factory Limited manufactures and sells cement and wall putty in Pakistan.
What was MLCF's standalone EPS in FY2026?
PSX standardized data reports standalone EPS of Rs.8.06 for FY2026. Consolidated EPS was Rs.11.34, so the two figures should not be treated as interchangeable.
Is MLCF Shariah-compliant?
MLCF was listed as compliant in the KMI-30 review effective June 5, 2026, based on accounts to December 31, 2025. Verify the newest official screening notice before relying on that status.
Did MLCF announce a dividend for FY2026?
The FY2026 results announcement reported no recommended cash dividend, bonus shares or right shares for that period. Check subsequent company announcements for updates.
Does MLCF have a PSX risk warning?
Yes. The PSX profile displays a Risk Warning Alert concerning continuous violations and possible suspension or delisting. Check the latest exchange notices for its current status.
Is MLCF a good investment?
That depends on valuation, financial strength, business conditions and the investor's circumstances. This profile is for research and education, not a personalised buy or sell recommendation.
Disclaimer
This page is for educational and informational purposes only. Market prices, financial figures, dividend information and Shariah screening status may change. Confirm all material information against the latest official PSX notices, company financial statements and screening publications before making an investment decision. PSX Investors Zone does not guarantee profits or returns and does not provide personalised investment advice.
This profile is for educational purposes and is not a recommendation to buy or sell any security.