External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

Maple Leaf Cement Factory / Equity Bottom-Up

<ul><li>Maple Leaf Cement (MLCF) announced its financial result today, wherein the company reported consolidated earnings of Rs1,626mn (EPS: Rs1.52) up 18% YoY in 1QFY24.</li><li>Earnings came slightly lower than expectation due to lower than expected gross margins.</li><li>We expected gross margins of 32% for 1QFY24; however, actual gross margins came in slightly below expectations at 31%. However, gross margins came in significantly higher than 4QFY23 of 25%, mainly due to lower coal prices.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Maple Leaf Cement (MLCF) announced its financial result today, wherein the company reported consolidated earnings of Rs1,626mn (EPS: Rs1.52) up 18% YoY in 1QFY24.Earnings came slightly lower than expectation due to lower than expected gross margins.We expected gross margins of 32% for 1QFY24; however, actual gross margins came in slightly below expectations at 31%. However, gross margins came in significantly higher than 4QFY23 of 25%, mainly due to lower coal prices.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Maple Leaf Cement (MLCF): 1QFY24 EPS at Rs1.52, up 18% YoY; Buy stance maintained