Maple Leaf Cement Factory Ltd (MLCF) has announced its 3QFY26 results on PSX’s website. The leading Pakistani company reported a consolidated NPAT of PKR1.8bn (US$6.4m) for 3QFY26, down 37 per cent YoY and 43 per cent QoQ. Earnings came in below expert expectations, primarily driven by lower-than-expected revenue and a 60 per cent sequential surge in administrative costs, as noted by IMS Research.
Key highlights of the 3QFY26 results include net sales of PKR21.5bn, up 14 per cent QoQ, driven by the consolidation of PIOC following MLCF’s acquisition. Unconsolidated revenue was in line with our estimates; however, consolidated revenue was lower than estimated, likely reflecting only partial consolidation of PIOC’s revenue post-acquisition rather than a full three months.
Finance costs surged to PKR1.4bn, largely reflecting a PKR74bn sequential jump in long-term borrowings undertaken to finance the PIOC acquisition.
The company recorded an effective tax rate of 38 per cent, compared to 25 per cent in the same period last year.
By Abdul Rab Siddiqi, Pakistan
