Pakinvestorsguide

The Market ! => Pak Equities => Topic started by: Toshi on November 07, 2009, 10:49:41 PM

Title: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Toshi on November 07, 2009, 10:49:41 PM
All About Maple Leaf Cement
Title: Re: MLCF --- Maple Leaf Cement
Post by: Toshi on November 07, 2009, 10:51:27 PM
MLCF - Financial Statements Analysis Financial Year 2003- Financial Year 2009

INTRODUCTION
OVERVIEW (November 07 2009): Maple Leaf Cement is a part of Kohinoor Maple Leaf Group (KMLG). The Group comprises of companies, which are ranked amongst the top companies in the cement and textile sector. Maple Leaf Cement Factory Limited (MLCFL) is one of the pioneers of cement industry in Pakistan.

MLCFL owns and operates three production lines for grey and three production lines for white cement. The plants are located at Daudkhel District Mianwali. Total annual clinker capacity of the Company is recorded at 3,690,000 tons.

OVERVIEW OF THE ECONOMY

The economy of Pakistan has faced a huge slump this fiscal year with the GDP growth mounting to just 5% for 2008 and it's expected to be just 2% this year. The economy witnessed surging inflation rates with inflation touching 25% high and so was the case with interest rates. The melt down of the stock exchange reflected a sheer drop in stock prices and the fall of real estate markets followed.

The reduction of expenditure in the real estate and construction business had adverse effects on the cement sector. This is evident by drop of investment as a percentage of GDP from 22.5% to mere 19.1% this year. To make matters worse, the electricity and water shortages girded the industries and caused high losses. This fiscal year's beginning saw highest oil prices ever and the subsequent of this high price was suffered by each and every industry.

PROFITABILITY The cement sector saw growth of 2% in fiscal year 2008-2009. However, exports showed encouraging increase of 47% with sales volume reaching 11.381 million tons against last year's volume of 7.716 million tons. Demand in the local market showed negative growth of 14% due to adverse economic situation in the country.

This growth was seen because of a large number of companies looking for new avenues outside the Pakistani market. Those who were very successful tried to reach the Middle East and the African markets. They capitalized on the growth potential of the countries that are in a process of reconstruction like Iraq and Somalia. However, Maple Leaf Cement focused on India and after Mumbai attacks the suffered a lot as India imposed duties. Despite all the problems, their sales increased .

The production of grey, white and oil well cements by the Company at 3,174,512 metric tons compares favourably to 2,431,352 metric tons in the corresponding period last year. Increase in production is mainly due to addition of 6,700 tpd clinker capacity plant and oil well cement commencing commercial production.

Net sales Revenue doubled at Rs 15,251 million against the corresponding period last year of Rs 7,816 million. Sales volume was recorded at 3,165,770 metric tons for all cements as compared to 2,534,220 metric tons in the previous year in both local and export markets. The increase in sales for Maple Leaf Cement in FY'09 was 95. 13%. If we break it up further, 52.34% increment was witnessed in local sales while 175.12% rise was witnessed in export sales.

Maple Leaf cement despite increase in sales was unable to lift its profits. If we compare it with the other companies in the industries, Maple leaf Cement has underperformed. Actually it has shown worst performance this fiscal year. All the companies that had showed losses or decreased sales have improved but Maple Leaf incurred further losses. This high increase in sales was coupled by 59% increase in cost of goods sold. The major chunks that caused such high increment in CGS for Maple Leaf Cement were 57.31% increase in packing material consumed, 90.07% increase in fuel and power expense and 71.63% increment in rents, rates and taxes.

This huge increment in aforementioned expenses was because of multiple reasons. The first being electricity shortage in the city. The nation witness unprecedented power outages this year. This has adversely affected the operations of the industrial sector. Even if they use the generators, the surging fuel prices don't help. Despite the drop in international prices of oil, there was not a drop in Pakistani market because of removal of subsidy on oil. This removal was because of conditions imposed by IMF for bestowing loan to Pakistan. The loan demands removal on subsidies and increase in price of the energy sector.

THESE ADVERSE EFFECTS HAVE DETERIORATED THEIR PROFITABILITY RATIOS AS SHOWN BELOW:

Their gross profit margin has increased steadily as 274.36% increment was witnessed in gross profit due to 95.13% rise in net sales. However, we see that once again profit margin shows negative sign. Although the situation has improved from -8.65% to -6.45%, the condition is not good. The cement sector has improved a lot this year but it seems that Maple Leaf is the worst performer. One must also notice that the financial charges have increased by 87.77% because of surging interest rates. This rate is very high because of conservative approach by State Bank of Pakistan. As shown by the following graph from state bank of Pakistan, the surging discount rates of this fiscal year were very high:

Moreover, as they made loss last year, this year their credit rating would have been worsened. This is evident by their increased mark-ups. They need to diversify their markets or increase sales because the return to assets and to equity has gone down by 48.16% and 80.94% respectively. This is also evident by reduction in their equity by 19.65% this year and hence, leading to a 51% reduction in earnings per share.

LIQUIDITY

Due to immense losses accumulated by Maple leaf cement this year, their liquidity is also affected. They are worse off at this avenue as well with current ratio going down by 35.54% because of 13.01% reduction in current assets while 34.95% increment in liabilities maturing within this year. They increased their short term borrowing by 30.05% in order to meet liquidity requirements. The current ratio of 0.52 is an alarm bell as the company will not find it easy to pay off its liabilities and they have huge liabilities coming up this year. It is also worthwhile to mention that their current assets contain deferred taxes of 162 million. This shows that they will have difficulties this year in paying off liabilities.

ASSET MANAGEMENT

In an attempt to recover from their previous year's loss, they employed ingenious techniques. They are now getting their trade debt cleared quickly and this improvement is by about 52%. A reason for this quick conversion is export oriented approach. The government of Pakistan has made it mandatory to do transactions in foreign countries via Letter of credit. This allows them to get money before maturity and hence their receivables are being collected sooner. There is a 5.43% decline in the time they take to sell of the inventory. This fall in time is because of export centric approach again. However, the reduction would have been significant had the Mumbai attacks not happened. Currently they hold inventories worth 651 million rupees that is 49.97% higher than what was last year. Consequently, their operating cycle is now 28.86 days that is 33.33% less than last year. This reduction in operating cycle shows that they have improved their operations but not to the extent that they get into the profit zone.

The inventory turnover rate has improved by 5.74% that means that they are generating more sales on the same amount of inventory. Once again this rise is due to increase prices. One must also take into notice that the cartel formation of cement manufacturers caused inflated price that went up to Rs 300 per bag. There is 142.86% rise in sales to equity ratio. This ratio being mathematical has its shortcomings and this huge increment is not just because of sales but also because of reduction in equity by 19.65%.

DEBT MANAGEMENT

Maple Leaf Cement Factory limited has incurred losses this fiscal year again. This has led to reduction in shareholder's equity by 19.65% as mentioned above. Their liquidity has also gone down. Now in order to finance their assets, they have incurred loans. These loans are of both short term and long term in nature. Their Long term debt has increased by 242.22% this year. This huge increment is because of following reasons: First they entered into a financing agreement in HBL for a Waste Heat Recovery plant worth 1.16 billion. The second reason is payment of tranches of their long term loan. Their long term loans have now matured and they have to pay them back as well.

Due to increased debt and reduced equity, their debt to equity ratio has rose by 32.52% while debt to asset showed just 8.5% rise. This shows that basically they have restructured their balance sheet and because the increase in debt is only being used as a means of providing a cushion for the reducing equity. Their TIE has increased by 195.07%. However, this ratio being mathematical may be misleading. Firstly, one must acknowledge that they have done robust activities for sales and increased their earnings before interest and taxes by 453.45%. However, due to high loans, the financial charges also surged up by 87.57%.

MARKET VALUE

The trend of incurring loss continued from the last year and hence the earnings per share this year revealed negative results. Since the appropriation of losses has been done, the Earnings per share have reduced dramatically. It's lower by 56.70% this year. The slump in the stock market led to the fall of stock prices. Since it was a systematic risk, Maple Leaf Cement was not the only one affected from it. One must see that price earnings ratio has improved. This is because the price has reduced by 40% while the Earnings have reduced by 56.70%. This does not mean that the company has performed well this year. A higher PE multiple just means that the market is showing more confidence in Maple Leaf Cement Factory.

VOLATILITY

The returns of Maple Leaf Cement Factory showed just 0.3% variance in returns with a mean return of 0.574%. This means that Maple Leaf Cement is not very volatile and the investment is pretty safe as the ups and downs do not affect the stock as such. This is also to be considered that they have 115.12 million shares in the free float out of 372.263 million shares. This shows that the share prices are very good reflection of the sentiments in the market.

FUTURE OUTLOOK

The government of Pakistan has recently announced the largest Public sector development program this year. This plan is worth 646 billion rupees. Of this budget 25 billion has been allocated to the earthquake rehabilitation and 67.59 billion towards building of dams. This shows that the domestic demand would increase in Maple Leaf being the 3rd largest in terms of market share would earn fair share from the pie. Moreover, they are planning to venture into African markets that are also a viable option as we saw Attock Cement venturing into Middle East and Somalia, which led to unprecedented profits this year.

The electricity would be an issue for them this year as the rental generators will provide expensive electricity and IMF loan tranche asks the government to raise prices further in December and in April. Finally recovery of the global economies will slowly and gradually open room for real estate again.

COURTESY: Economics and Finance Department, Institute of Business Administration, Karachi,
Title: Re: MLCF --- Maple Leaf Cement
Post by: Admin on December 10, 2009, 12:52:10 PM

KARACHI: Banks in Pakistan were stunned at the information that a major cement company has expressed inability to payback Rs8 billion Sukuk bonds and has asked the creditors to restructure the payment schedule.

Banking sources said in a meeting held on Friday last with the bankers and income fund managers, Maple Leaf which issued the Sukuk, asked the bankers to restructure the financing.

The re-payment of Sukuk is due from June 2010 in eight semi-annual installments, said the sources.

This could be the first possible default of the Islamic Term Finance (Sukuk) involving such a large amount.

The largest creditor of the Sukuk was the Allied Bank which has an exposure of Rs3.19 billion.

It might put an additional burden on the balance sheet of the bank as all most all banks have been facing tough time for the last couple of years.

When contacted, the ABL did not comment on the situation. Sources said the bank was negotiating for better deal with the company.

Analysts said that Habib Bank has increased its exposure to Rs1.6 billion in the Sukuk. Bankers said there was no option than restructuring as the company has shown its inability to pay back.

Bankers said the company has offered non-voting shares against the credit given by the banks but the banks were not ready to accept the non-voting shares.

Bankers expressed doubt that voting shares might make the owners of the company a minority shareholder.

A senior banker said the possible default of the Sukuk could hurt the credibility of newly born Islamic banking product but the most important aspect of the failure of Sukuk is that a company having best track record is unable to pay back its loans. The weak economic growth forced a large number of companies of various sectors to close down their businesses; they defaulted and piled up massive non-performing loans in the balance sheets of the banks.

Only last year banks witnessed over Rs100 billion NPLs.

‘ABL has the largest exposure among banks, Rs3.2bn which amounts to 12 per cent of Bank’s total capital,’ said a KASB Securities report issued recently.

It said HBL Income Fund initially had an exposure of Rs35 million which was raised to Rs1.6 billion.

Faysal Bank has an exposure of Rs900 million, MCB Bank Rs625 million, Askari Bank Rs175 million, Arif Habib Bank Rs175 million, Soneri Bank Rs150 million; BOP Rs100 million, Bank of Khyber Rs100 million and HSBC Pakistan Rs150 million.

Analysts said almost all sectors of the economy are under sever stress due to weak economic growth which is also an outcome of mounting terrorism inside the country expelling foreign investors from the country while causing massive losses to manufacturing and trading sectors.

Very high interest rates increased the cost of doing business while causing failure of businesses, leading to a build-up of NPLs.

Analysts said the situation was also reflected through insignificant borrowing by the private sector through banks.

Banks are main supplier of credit to entire economic system
Title: Re: MLCF --- Maple Leaf Cement
Post by: 007 on December 10, 2009, 01:33:08 PM
big news

will affect all cement stocks
Title: Re: MLCF --- Maple Leaf Cement
Post by: Learner7 on December 10, 2009, 03:00:23 PM
Pacra down rates Maple Leaf Cement

LAHORE: The Pakistan Credit Rating Agency Limited (PACRA) has downgraded the long-term and short-term entity ratings of Maple Leaf Cement Factory Limited (MLCFL) to "BBB-" (Triple B Minus) and "A3" (A Three), respectively.

The rating of secured Sukuk of Rs8,000 million has also been downgraded to "BBB" (Triple B). The outlook on these ratings is 'Negative'. These are the lowest investment grade ratings.

The ratings reflect stressed financial profile of the company, mainly on the outcome of its highly leveraged capital structure and subdued cash flows that have severely impacted Maple Leaf's ability to meet its financial obligations on a timely basis. Meanwhile, the business prospects of the company are subdued due to challenging dynamics of the cement sector. The management  of the company is currently in negotiations with lenders for debt restructuring. However, the forbearance by most investors, mainly in the company's Sukuk, may exhaust very soon. Hence, favorable restructuring remains critical for the sustenance of the ratings at current level, which, otherwise, are under significant downward pressure
Title: Re: MLCF --- Maple Leaf Cement
Post by: Farzooq on April 03, 2010, 09:53:00 AM
MAPLE LEAF SUKUK: Restructuring in the Offing?
Maple Leaf Cement Factory announced a meeting of the Board of Directors on April
5, 2010 to discuss the restructuring of long term loans and the proposal of further
issue of shares. Maple Leaf Cement Factory and its parent company Kohinoor
Maple Leaf Group will undergo restructuring with a possibility of an increase in
equity for the companies.

Maple Leaf Sukuk issue was offered in the fiscal year ending June 2008 with a par
value of PKR8bn to assist in replacement of conventional debt with Shariah
Compliant Financing. The tenor of the Sukuk issue is 6 years with 2 years grace
period and carries a profit at 6M KIBOR + 170bps.

As at Dec09, outstanding debt for the company stands at PKR17.5bn. Offering semi
annual payments, the first principle payment was originally due in June 2010. Maple
Leaf Cement Factory defaulted on its Dec09 coupon payment of PKR617mn.

As reported in the December 2009 Financial Statements, the severe downturn in the
cement sector has forced the company to seek a restructuring of its long term Sukuk
and syndicated loan arrangements. While this restructuring was scheduled to come
into effect by March 2010, this has been delayed.

Provided the restructuring is successfully implemented, it is possible that coupon
payments will be moved forward and the tenor of the Sukuk would increase beyond
the six year mark. Fixed income funds that have provided for the company’s bonds
are likely to benefit in the event that the restructuring goes through.
Title: Re: MLCF --- Maple Leaf Cement
Post by: 007 on April 04, 2010, 08:49:15 PM
rumour of some foerign investment in it,

cannot confirm it
Title: Re: MLCF --- Maple Leaf Cement
Post by: sumbul on April 05, 2010, 01:03:57 PM
Maybe I am wrong but I have a gut feeling and it will fly soon  :skeptic:
Title: Re: MLCF --- Maple Leaf Cement
Post by: sumbul on April 05, 2010, 02:47:11 PM
Maybe I am wrong but I have a gut feeling and it will fly soon  :skeptic:

153M right shares to be issued at 6.50. 1 billion invested the sponsors  :shoaby: :shoaby: :banana: :banana:
Laaaaaoooo MLCF atleast Rs 6/= main  :biggthumpup:
Title: Re: MLCF --- Maple Leaf Cement
Post by: Farzooq on April 05, 2010, 02:49:39 PM
Maybe I am wrong but I have a gut feeling and it will fly soon  :skeptic:

153M right shares to be issued at 6.50. 1 billion invested the sponsors  :shoaby: :shoaby: :banana: :banana:
Laaaaaoooo MLCF atleast Rs 6/= main  :biggthumpup:


yehi kaam anl ne karna hai

tu mlcf laoo aur anl lee kiun ???

Title: Re: MLCF --- Maple Leaf Cement
Post by: sumbul on April 05, 2010, 02:52:11 PM
Maybe I am wrong but I have a gut feeling and it will fly soon  :skeptic:

153M right shares to be issued at 6.50. 1 billion invested the sponsors  :shoaby: :shoaby: :banana: :banana:
Laaaaaoooo MLCF atleast Rs 6/= main  :biggthumpup:



yehi kaam anl ne karna hai

tu mlcf laoo aur anl lee kiun ???



But who knows key ANL ka right kitnay main ayey ga. MLCF ka too pata chal giya hey. Waisay bhee Rs 6.5 pay kaun bharay gaa agar market price 4.5 rahee. Zaroor issko opeer lay gayen gey  :biggrin:
Title: Re: MLCF --- Maple Leaf Cement
Post by: Farzooq on April 06, 2010, 09:28:23 AM
Sukuk restructuring: Maple Leaf recommends further issue of 153.846m shares
RECORDER REPORT
KARACHI (April 06 2010): In order to ensure an orderly and timely restructuring arrangements of long term Sukuk and Syndicated loan, the board of directors of Maple Leaf Cement Factory on Monday recommended further issue of 153.846 million ordinary shares of Rs 10 each other than rights at Rs 6.50 per share at a discount of 35 percent.

The board of directors of the company said that the issue of these ordinary shares would be other than rights to Kohinoor Textile Mills Limited. The board took this decision in its meeting held on Monday with the condition that the existing shareholders shall have right to subscribe shares in proportion to the paid up value of shares held be them as on April 26, 2010 out of the above-mentioned ordinary share at the aforesaid price within 45 days of the issuance thereof.

However, it would subject to approval of shareholders and Securities and Exchange Commission of Pakistan (SECP). The ordinary shares so issued shall rank pari passu with the existing shares in all respects. About the purpose of further issue of shares at discount other than rights, it was stated that the company has come under stress due to low selling prices of cement in local market, sharp increase in mark up rates, high distribution costs, imposition of high taxes, cut throat domestic competition among producers and various others adverse factors.

The company has been forced by the lenders to seek a restructuring of its long term Sukuk and Syndicated loan arrangements, which were availed to finance the 6,700tpd expansion project, an information sent to Karachi Stock Exchange (KSE) said. Owing to condition imposed, the sponsors have agreed to inject fresh funds of one billion rupees into the company in order to improve its cash flow and equity base.

The proposed issue will benefit the company in successful completion of restructuring of long term loans, improvement in liquidity, reduction in leverage risk, strengthening of capital base and improvement in lenders' confidence. The funds generated from further issue of shares other than rights at a discount of 35 percent would be utilised for payment of mark up and working capital requirements of the company.
Title: Re: MLCF --- Maple Leaf Cement
Post by: Dr nouman on April 06, 2010, 10:06:25 AM
so wats the out come?
buy call :skeptic: ?
Title: Re: MLCF --- Maple Leaf Cement
Post by: sumbul on April 15, 2010, 10:39:47 AM
Maybe I am wrong but I have a gut feeling and it will fly soon  :skeptic:

153M right shares to be issued at 6.50. 1 billion invested the sponsors  :shoaby: :shoaby: :banana: :banana:
Laaaaaoooo MLCF atleast Rs 6/= main  :biggthumpup:

MLCF will soon go upto Rs 6/= INSHALLAH  :goodc:  :biggthumpup: Just wait for approval of right shares at 6.5 in BM. Date of BM not yet announced
Title: Re: MLCF --- Maple Leaf Cement
Post by: 007 on April 15, 2010, 02:25:35 PM
MLCF - Rights Issue and Conference Call Takeaways
According to a notice issued by Maple Leaf Cement Factory Limited (MLCF) on Apr05'10, the company has announced a rights offer of 153.8mn shares at PKR 6.5 per share. The company is expected to raise a sum of PKR 1bn through this offer. The purpose of this equity injection is i) to make payments for the accrued markup on the loan and ii) to meet the company's working capital requirements. Furthermore, incase of non-subscription from other equity holders, the company's sponsor Kohinoor Textile Mills Limited (KTML) has pledged to subscribe the remaining shares.

Outlook - Financial charges a major concern
All said, the company's financial charges remain the major concern. At PKR 1.1bn financial charges are well above company's earnings from core operations which stood at PKR 126mn in 1H FY10. Despite, the recent uptick in cement prices and a 35% freight subsidy on export from the GoP, we still remain cautious about the company's future profitability. Based on our projection and the company's conference call communiqué positive earnings for the company is hinged upon appreciable recovery in cement prices to the tune of PKR 40/bag to PKR 300/bag levels in the north; the company's major market. Given the prevalent scenario, we do not expect prices to re-rate to these levels in the near term prompting us to advise a cautious stance on the scrip.

IGI Research

Title: Re: MLCF --- Maple Leaf Cement
Post by: sumbul on April 19, 2010, 10:27:32 AM
Maybe I am wrong but I have a gut feeling and it will fly soon  :skeptic:

153M right shares to be issued at 6.50. 1 billion invested the sponsors  :shoaby: :shoaby: :banana: :banana:
Laaaaaoooo MLCF atleast Rs 6/= main  :biggthumpup:

MLCF will soon go upto Rs 6/= INSHALLAH  :goodc:  :biggthumpup: Just wait for approval of right shares at 6.5 in BM. Date of BM not yet announced

Go Maple Go. You can do it boy  :fingerscrossed1:  :biggthumpup:
Title: Re: MLCF --- Maple Leaf Cement
Post by: alikhan_2010 on April 19, 2010, 10:39:09 AM
Sumbul Brother, MLCF ya Silk donun main say ziada konsa recommend karain gay, plz reply, Thanks.
Title: Re: MLCF --- Maple Leaf Cement
Post by: sumbul on April 19, 2010, 10:44:39 AM
Sumbul Brother, MLCF ya Silk donun main say ziada konsa recommend karain gay, plz reply, Thanks.

SILK
Title: Re: MLCF --- Maple Leaf Cement
Post by: alikhan_2010 on April 19, 2010, 10:46:31 AM
Bundle of Thanks Brother for yr precious reply
Title: Re: MLCF --- Maple Leaf Cement
Post by: sumbul on April 20, 2010, 11:13:40 AM
Maybe I am wrong but I have a gut feeling and it will fly soon  :skeptic:

153M right shares to be issued at 6.50. 1 billion invested the sponsors  :shoaby: :shoaby: :banana: :banana:
Laaaaaoooo MLCF atleast Rs 6/= main  :biggthumpup:

MLCF will soon go upto Rs 6/= INSHALLAH  :goodc:  :biggthumpup: Just wait for approval of right shares at 6.5 in BM. Date of BM not yet announced

Go Maple Go. You can do it boy  :fingerscrossed1:  :biggthumpup:

 ::)  :biggrin:  :goodc:  :biggthumpup:  :laugh:
Title: Re: MLCF --- Maple Leaf Cement
Post by: 007 on April 21, 2010, 01:31:37 PM
MLCF showing good performance

nice call Sumbul

TP Trgt
Title: Re: MLCF --- Maple Leaf Cement
Post by: sumbul on April 21, 2010, 01:44:19 PM
MLCF showing good performance

nice call Sumbul

TP Trgt

Well logic behind my call was that when right is coming at 6.5 and if the rpice is below that who would subscribe. Hence, company will want it to trade b/w 6-7 to make it attractive  :fingerscrossed1:
Title: Re: MLCF --- Maple Leaf Cement
Post by: Faisal on April 21, 2010, 01:51:31 PM
MLCF showing good performance

nice call Sumbul

TP Trgt

Well logic behind my call was that when right is coming at 6.5 and if the rpice is below that who would subscribe. Hence, company will want it to trade b/w 6-7 to make it attractive  :fingerscrossed1:

its difficult to achieve 6 for MLCF with LPS of -2.4 :skeptic:
Title: Re: MLCF --- Maple Leaf Cement
Post by: 007 on April 21, 2010, 02:03:22 PM
MLCF showing good performance

nice call Sumbul

TP Trgt

Well logic behind my call was that when right is coming at 6.5 and if the rpice is below that who would subscribe. Hence, company will want it to trade b/w 6-7 to make it attractive  :fingerscrossed1:

TP trgt
Title: Re: MLCF --- Maple Leaf Cement
Post by: sumbul on April 21, 2010, 02:05:35 PM
MLCF showing good performance

nice call Sumbul

TP Trgt

Well logic behind my call was that when right is coming at 6.5 and if the rpice is below that who would subscribe. Hence, company will want it to trade b/w 6-7 to make it attractive  :fingerscrossed1:

TP trgt

what is TP?
Title: Re: MLCF --- Maple Leaf Cement
Post by: 007 on April 21, 2010, 10:16:21 PM
take profit?????????? :arrowhead:
Title: Re: MLCF --- Maple Leaf Cement
Post by: 007 on April 25, 2010, 12:29:06 AM
(http://img707.imageshack.us/img707/7686/mlcfeod.png)
Title: Re: MLCF --- Maple Leaf Cement
Post by: GTrader on March 08, 2012, 04:08:33 PM
Maple Leaf Cement
MARCH 08, 2012 RECORDER REPORT

Maple Leaf Cement started operations as a private company in 1992 when it was acquired by the Kohinoor Maple Leaf Group.

Based in Lahore, the Company since then positioned itself as a prominent cement manufacturer of the country with a diverse customer base.

MLCFL owns and operates three production lines for grey cement and three production lines for white cement.

The plants are located at Daudkhel District Mianwali.

It is the largest producer of white cement in the country with 80 percent of market share and total annual clinker capacity of the company is recorded at 3,690,000 tons.
Profitability
As has been happening in the local cement industry at large, Maple Leaf Cement is also enjoying the bonanza of rising cement prices in Pakistan.

Relative to the same period of last year, cement prices have increased by a substantial 25 percent locally, despite the reduction in GST, FED and SED offered to the sector in the FY12 budget, which supposedly reduced the price of each 5kg bag of cement by Rs 22-23.
In line with the industry trend of high cement prices, during 1HFY12, net sales improved by about 13 percent, driven primarily by improved retention prices of cement during the period under review.

This was cascaded into a year-on-year improvement of 9 percentage points in the gross margins of the company for July-December FY12.
Many players in the cement sector have been working towards lowering their production costs by employing cost reduction measures by using alternate power sources such as the Waste Heat Recovery Plants installed by several key players.

With Maple Leaf cement also running its Waste Heat Recovery Plant, some of the improvement in gross margins can also be attributed to this attempt of the Company.
Further, many players up North have been relying less on exports via sea because of lower margins on exports, especially in the wake of better prices at home.

Consequently, Maple Leaf's export sales also witnessed a decrease in terms of the volume of exports via sea.

The result was evident in reduced distribution expenses, which decreased from 12 percent of sales in 1HFY11 to only 6 percent of sales in 1HFY12.
Overall, reduction in distribution and selling expenses turned around the operating profits of the Company, which was in the reds in 1HFY11.

Compared to an operating loss of Rs 7 million in 1HFY11, the Company registered operating profits worth Rs 1 billion in 1HFY12.
However, finance costs are the real Achilles heel of the Company, eroding on any operating gains the highly leveraged company could boast of.

Since FY09, the Company's finance costs have been over 15 percent of net sales for all the fiscal years, and were 17.5 percent of net sales in 1HFY12.
But, thanks to the improved operating results for 1QFY12, the loss in the first half of this year was Rs 223 million, considerably less than Rs 1.1 billion recorded for the same period last year.

The Company actually reported a profit of Rs 5 million in 2QFY12, showing that the improving margins are finally pulling the Company towards a green bottom line.
Leverage Maple Leaf Cement's leverage position has put it under the radar of rating agencies.

The Company had taken up immense debt for expanding cement production capacity, putting the financial health of the Company in jeopardy.

Since FY10, the debt-to-equity ratio has been fairly high at approximately 2.0.
Beginning 2008, the Company's financial health came under severe pressure, with the Company attempting to negotiate with lenders regarding restructuring their debt in 1HFY09.

These did not materialise, resulting in PACRA downgrading Maple's Sukuk issue of Rs 8 billion from BBB to D.
When the Company did succeed in getting a majority of its long-term loans restructure in FY10, with the sponsors - the Kohinoor Group - even injecting Rs 1 billion as 'quasi-equity' interest-free loan into the Company, the Company's credit rating was revised to BB.
However, rising energy costs, poor economic conditions leading to dwindling cement demand, together with interest rate spikes witnessed in most of FY11 struck a further blow to the Company's ability to service its debt obligation.

The capacity expansion for which the Company took these pains was unable to see the light of the day in such grave economic conditions.
"Just when the Company completed its expansion projects, increasing production to 12,000 tons per day, demand for cement in the local market nosedived," said an article by BR Research in July last year.
The Company was unable to honour the first mark-up payment of its restructured Sukuk, which was due on September 03, 2011, putting it back under the watchdog PACRA, to the extent that the agency in its latest report on Maple Leaf said: "The delay in meeting the financial obligations by Maple Leaf is tantamount to default."
Unsurprisingly, the Company was downgraded back to a D According to PACRA, Maple Leaf is in the process of negotiating further restructuring agreements with favourable lenders, and the improvement in operating margins at the back of improving sale prices of cement may help them in this end.
However, in order to turn the losses into profits, the Company's sales volumes need also be pumped up to improve, not only its profitability, but also cash flows and ability to service debt obligations.
Liquidity With a company as cash-strapped as Maple Leaf, liquidity constraints come as no surprise.

The Company's net working capital has been in the negative since FY08, standing at a negative Rs 5.3 billion by 1QFY12.

The current ratio, on the other hand, has lingered around 0.5 during the last three fiscal years, deteriorating from a 0.8 seen in FY08.
On the cash flow side, in 1HFY12, a significant cash outflow of Rs 1 billion was seen, plausibly attributable to the Company's heavy short-term borrowing of Rs 3.8 billion.

The hefty finance costs and short-term borrowing further reflect on the Company's ailing working capital situation.
Investment and valuation Unsurprisingly, Maple Leaf Cement has not paid any dividend to its investors in the last three fiscal years, and is being traded below par at the KSE at the moment.



====================================================================
Maple Leaf Cement - key performance indicators
====================================================================
1HFY12     FY11     FY10     FY09
====================================================================
Profitability
Net Sales                Rs (bn)     7.02    13.07    13.63    15.25
Gross profit margin            %       23       17       22       32
Operating margin               %       15      4.5       -4       16
Net profit margin              %       -3      -14      -19       -6
Finance cost             Rs (bn)     1.23     2.17     2.06     3.40
EPS                           Rs    -0.47    -3.72    -7.08    -2.78
--------------------------------------------------------------------
Assets and liabilities
--------------------------------------------------------------------
Current assets           Rs (bn)     5.19     5.41     5.00     5.21
Current liabilities      Rs (bn)    10.43    10.37     9.35     9.96
Net working wapital      Rs (bn)    -5.24    -4.95    -4.35    -4.75
Non-current liabilities  Rs (bn)    13.90   -14.64   -11.61    -8.98
Debt:equity ratio                       -     1.56     2.23     1.33
Current ratio                        0.50     0.52     0.54     0.52
====================================================================
Title: Re: MLCF --- Maple Leaf Cement
Post by: 007 on March 08, 2012, 04:24:02 PM
some one finally posted after a year in it
Title: Re: MLCF --- Maple Leaf Cement
Post by: M&M on March 13, 2012, 01:14:40 PM
Maple Leaf Cement Factory Limited Lahore may be allowed to import 200,000 tons of pet coke on one time basis. ~ BR (http://www.brecorder.com/top-news/1-front-top-news/49311-3-industrial-raw-materials-from-india-ecc-likely-to-relax-rules-.html)
Title: Re: MLCF --- Maple Leaf Cement
Post by: ZeeshanPervaiz on March 15, 2012, 02:49:17 PM
kya scene ha bahi ... any news ???
Title: Re: MLCF --- Maple Leaf Cement
Post by: online88 on April 05, 2012, 12:44:43 PM
sold  75k at 5.77  :banana: :banana: :banana: :banana: :banana: :banana: :shoaby: :shoaby: :shoaby:
Title: Re: MLCF --- Maple Leaf Cement
Post by: msypk on July 31, 2012, 02:20:32 AM
@ FARZOOQ BAHI,

heard some people  in the market talking about the takeover of maple leaf by mansha group .in addition my broker is advising to buy giving a target price of 11 sighting the same news.
please comment on the take-over rumor.
regards.
Title: Re: MLCF --- Maple Leaf Cement
Post by: pax on August 01, 2012, 01:23:04 PM
Hitting upper lock.
Title: Re: MLCF --- Maple Leaf Cement
Post by: stockz_123 on August 08, 2012, 08:38:01 PM
superb performance...
Title: Re: MLCF --- Maple Leaf Cement
Post by: SaadChamp on August 09, 2012, 03:39:03 AM
kisi ne hold kia hua hai MLCF ?? future outlook kaisa hai ..... aur upar jayega yee???
Title: Re: MLCF --- Maple Leaf Cement
Post by: naumaan on August 20, 2012, 08:15:08 PM
kisi ne hold kia hua hai MLCF ?? future outlook kaisa hai ..... aur upar jayega yee???

Hi Gurus, whats are you expecting about its share price for this year. Thanks in advance for your valuable comments.
Title: Re: MLCF --- Maple Leaf Cement
Post by: farhan on August 27, 2012, 02:33:43 PM
 :shoaby:
Title: Re: MLCF --- Maple Leaf Cement
Post by: farhan on August 29, 2012, 11:46:26 AM
Anyone know when the BM for MLCF is scheduled?
Title: Re: MLCF --- Maple Leaf Cement
Post by: malikk on August 29, 2012, 02:00:47 PM
Anyone know when the BM for MLCF is scheduled?
i think its done , 27 aug ko thi i think ?
Title: Re: MLCF --- Maple Leaf Cement
Post by: farhan on August 29, 2012, 02:37:32 PM
Anyone know when the BM for MLCF is scheduled?
i think its done , 27 aug ko thi i think ?

Acha??? What was the announcement??
Title: Re: MLCF --- Maple Leaf Cement
Post by: malikk on August 29, 2012, 02:50:32 PM
Anyone know when the BM for MLCF is scheduled?
i think its done , 27 aug ko thi i think ?

Acha??? What was the announcement??
no abhi tak nahi hui , i checked ..
Title: Re: MLCF --- Maple Leaf Cement
Post by: farhan on September 03, 2012, 02:52:05 PM
Upper Lock!!  :o What's going on?
Title: Re: MLCF --- Maple Leaf Cement
Post by: farhan on September 07, 2012, 12:42:44 PM
@ FARZOOQ BAHI,

heard some people  in the market talking about the takeover of maple leaf by mansha group .in addition my broker is advising to buy giving a target price of 11 sighting the same news.
please comment on the take-over rumor.
regards.

@msypk Excellent timing for the information. Your target is now within reach  :D
Title: Re: MLCF --- Maple Leaf Cement
Post by: stockchild on September 12, 2012, 08:31:25 PM
rumors are that its expected eps is Rs. 1 for the current year
Title: Re: MLCF --- Maple Leaf Cement
Post by: engrusama on September 12, 2012, 10:14:05 PM
rumors are that its expected eps is Rs. 1 for the current year

 FINANCIAL RESULT FOR THE NINE MONTHS ENDED 31/03/2012 (0.49)

seems unlikely..
Title: Re: MLCF --- Maple Leaf Cement
Post by: farhan on September 13, 2012, 12:06:08 PM
When are the annual results going to be announced?
Title: Re: MLCF --- Maple Leaf Cement
Post by: ab_hassan on September 18, 2012, 11:29:42 AM
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=036226
Title: Re: MLCF --- Maple Leaf Cement
Post by: farhan on September 18, 2012, 11:46:56 AM
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=036226

Meeting to be held on September 25th, 2012 at 11 am
Title: Re: MLCF --- Maple Leaf Cement
Post by: stockchild on September 21, 2012, 12:13:09 AM
Maple leaf will be the share of the year. Soon you all will realiseeeeeee. just wait and watch
Title: Re: MLCF --- Maple Leaf Cement
Post by: kamal on September 21, 2012, 12:15:48 AM
Maple leaf will be the share of the year. Soon you all will realiseeeeeee. just wait and watch

u mean kai 9/5 jakai wapis 3 pai anay ki wajah sai ...ya yeh bhee 20 + ka honay wala hai

If maple is 20 1000 salutes sattoris .. :good
Title: Re: MLCF --- Maple Leaf Cement
Post by: stockchild on September 21, 2012, 12:29:57 AM
dear kamallll letsssss seeee.
Title: Re: MLCF --- Maple Leaf Cement
Post by: kamal on September 21, 2012, 12:31:13 AM
dear kamallll letsssss seeee.

Iam not saying kai yeh nahee hosakta ...Hosakta hai bahee kuch bhee ...KSE main ..

Agree with u on maple instance. .child ..
Title: Re: MLCF --- Maple Leaf Cement
Post by: malikk on September 25, 2012, 01:52:03 PM
rumors are that its expected eps is Rs. 1 for the current year
0.83 ... :rtfm:
Title: Re: MLCF -- Maple Leaf Cement
Post by: 007 on September 25, 2012, 05:12:08 PM
good eps after so many years

but is there any gas left in the tank  :skeptic:

i doubt it
Title: Re: MLCF -- Maple Leaf Cement
Post by: fazal on September 25, 2012, 08:56:54 PM
For last quarter eps is 1.32 with some one offs. But can expect eps of 2.5 to 2.7 for FIscal 13 if cement prices remain sticky. This assumes 72 percent capacity utilisation but does not in corporate full impact of latest coal prices and reduction in interest rate. So some upsides left..... Improvement in cement uptake is another upside....the inherent value for next fiscal is also less tax rate due to losses of past years. So I will say still a possible upside of 40 % is a realisable from these levels with June 13 perspective. Obviously biggest risk remains on cement prices
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: M&M on September 25, 2012, 09:24:22 PM
rumors are that its expected eps is Rs. 1 for the current year

 FINANCIAL RESULT FOR THE NINE MONTHS ENDED 31/03/2012 (0.49)

seems unlikely..

rumors are that its expected eps is Rs. 1 for the current year
0.83 ... :rtfm:
q4 earnings calculated to be 1.32
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: M&M on September 25, 2012, 09:28:21 PM
For last quarter eps is 1.32 with some one offs. But can expect eps of 2.5 to 2.7 for FIscal 13 if cement prices remain sticky. This assumes 72 percent capacity utilisation but does not in corporate full impact of latest coal prices and reduction in interest rate. So some upsides left..... Improvement in cement uptake is another upside....the inherent value for next fiscal is also less tax rate due to losses of past years. So I will say still a possible upside of 40 % is a realisable from these levels with June 13 perspective. Obviously biggest risk remains on cement prices
hmm
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stock addicted on September 25, 2012, 10:40:49 PM
bhaion tax reversal howaa hay ye tau gaur kerooo
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stockchild on September 25, 2012, 10:52:16 PM
a lot will depend on first qtr. result now. similar result in first qtr, it may well touch 12-14
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: M&M on September 26, 2012, 09:13:26 AM
bhaion tax reversal howaa hay ye tau gaur kerooo
true
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Farzooq on October 01, 2012, 12:53:41 PM
A rising tide lifts all boats
Event
? Benefiting from a favorable change in industry dynamics i.e. dissipating
supply overhang, a sustained pick-up in domestic demand and lower coal
prices, Maple Leaf Cement (MLCF) is witnessing a turnaround in its
fortunes. The company has posted PAT of PKR496mn (EPS: PKR0.85) in
FY12 compared to after tax loss of PKR1,769mn (LPS: PKR3.05) in FY11.
With the aforesaid trend likely to continue in FY13, and the company also
benefitting from lower interest rates, tax rate and its WHR, we expect MLCF
to report multifold increase in profitability in the current financial year.

Impact
? Earnings increase on better net retention prices, contained COGS.
Despite 11% YoY decline in volumetric sales to 2,526k tons, top line
increased by sizeable 18.3%YoY to PKR15,461mn in FY12 due to 34%YoY
higher net retention prices of PKR306/bag. While COGS increased by
5%YoY to PKR11,447mn, magnifying gross profit growth to 84.6% YoY to
PKR4,015mn. Further, operating profit increased by a stratospheric 8.8
times to PKR2,910mn primarily driven by 48.6% YoY decline in distribution
costs, resulting from 1) contraction of exports in its sales mix, and 2) rising
share of exports to Afghanistan, a cheaper route for MLCF due to its close
proximity, compared to the sea route. On QoQ basis, company witnessed
robust after tax earnings of PKR717mn (EPS: PKR1.24) in 4QFY12 on the
back of 2.4% increase in net retention prices (mainly due to 3.5% QoQ
increase in domestic retention prices) and lower coal prices. Although the
company has also benefitted from a couple of non-recurring items such as
reversal of late payment surcharge on sales tax and deferred tax benefit
resulting in a positive earnings impact of PKR0.44/share, improvement in
retention prices has primarily changed the fortunes of the company.

? EBITDA per ton catching up with rest of the industry: Although there is
a slight reduction in cash COGS per ton of MLCF relative to peer
companies (which used to be around 10% higher than the average COGS
of LUCK, DGKC, and ACPL), EBITDA per ton has improved considerably
over the past couple of years primarily due to improvement in net retention
prices. Owing to higher operating leverage of cement sector in general and
significantly higher financial leverage of MLCF, small improvement in the
top line is magnified when it reaches the bottom line (see fig 2)

? Work on WHR project completed successfully, but little impact in
FY12: Waste Heat Recovery (WHR) project of 16 MW was successfully
undertaken during 1HFY12. As the plant experienced some delays and
took several trial runs before it commenced successful operations, we
estimate little impact resulting from the same to FY12 bottom line. As per
management, WHR project is operating smoothly at present and is
expected to reduce MLCF’s reliance on the expensive electricity by around
25% resulting in after tax savings of approximately PKR390mn from FY13
onwards (EPS impact of PKR0.68/share).

? Lower interest rates/debt and preference shares repayment to
improve bottom line in the coming years: With its cash flows improving
considerably during the past year, MLCF has started to repay its long term
debt including sukuks, which currently stands at around PKR12.8bn. Moreover, the company has issued a notice that it will also redeem its preference shares which were issued at PKR13.2/share @ 9.75% dividend. Debt repayments and lower lending rates should reduce financial charges and improve company’s bottom-line in the coming years.

Price catalyst
? Catalyst: Sustainability in current domestic cement prices and any development on carbon credits from waste heatproject.
Action and recommendation
? Though the stock is not under our coverage, but relative valuations indicate that the MLCF is trading at dirt cheap FY13 PE multiple of around 3.3x, compared with FY13 PE multiples of 4.9x, 4.8X, and 5.6X of LUCK, DGKC, and APCL, respectively.

Investment fundamentals
Year end 30 Jun 2012A 2013E 2014E 2015E
Net sales m 15,461 17,304 18,936 20,663
Gross profit m 4,015 4,840 5,173 5,613
EBIT m 2,795 3,571 3,740 3,996
EBITDA m 4,014 4,607 4,734 4,950
Net profit m 496 1,613 1,981 2,247
EPS rep Rs 0.85 2.78 3.41 3.87
EPS rep growth % N/A 225.1 22.8 13.4
EPS rec Rs 0.85 2.78 3.41 3.87
EPS rec growth % N/A 225.1 22.8 13.4
PE rep x 10.6 3.3 2.7 2.4
PE rec x 10.6 3.3 2.7 2.4
Total DPS Rs - - - -
Total div yield % - - - -
Cap. Utilization % 68.6 74.0 78.0 82.0
Gross margin % 26.0 28.0 27.3 27.2
EBIT margin % 18.1 20.6 19.8 19.3
EBITDA margin % 26 27 25 24
Price/book x 1.5 1.0 0.7 0.6
fs
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: fazal on October 02, 2012, 12:10:52 AM
Last quarter gross margin is even higher something like 29.6 % or so will say 30% and projected eps goes even higher - something like 3.34 or may be higher depending on DR cut. Highly leveraged company so multiple of 4.5 which may take the stock to 60% upsdie from present levels  :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: fazal on October 13, 2012, 10:57:24 AM
Is any brokerage house covering this? Have seen few houses comment on the eps... Any idea/estimate/guesstimate by anyone about the eps for first quarter to be announced on 18 oct?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SaadChamp on October 15, 2012, 01:44:57 PM
almost upper cap...Iske result ka kya scene hai ??  :[
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hammad01 on October 18, 2012, 11:55:33 AM
any update on mlcf results
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: th3.inv3stor on October 18, 2012, 12:12:45 PM
mlcf diluted eps 65 pesa basic 70 pesa
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: farhan on October 18, 2012, 12:34:35 PM
mlcf diluted eps 65 pesa basic 70 pesa

Good? Bad? Indifferent?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stockchild on October 18, 2012, 01:32:02 PM
Profitability to improve further because of interest rate cut in August & October. Even at this rate its projected EPS is around Rs. 3. Its surely gonaaal touch 15
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: myk on October 18, 2012, 02:20:52 PM
Profitability to improve further because of interest rate cut in August & October. Even at this rate its projected EPS is around Rs. 3. Its surely gonaaal touch 15

Ya i agree 15 is possible soon n thus even more increment in KTML profits it may cross RS 20
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on October 18, 2012, 04:05:35 PM
wehsi eps


is fresh entry advised?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stockchild on October 20, 2012, 02:10:22 PM
this one is gold. golden opportunity to buy at current rates
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on October 20, 2012, 06:18:06 PM
this one is gold. golden opportunity to buy at current rates

Yar itna ziada cement stocks hain aur sab k lia acha bola ja reha hay. Main kia loon samaj nahi aa rehi, koi to guide kary yar. Laina sirf aik hi hay.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: asianstock on October 20, 2012, 06:25:50 PM
I think DCL result coming on Wednesday and looking better.. You can get some chuck for short time.. Flying Cement also good.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: fazal on October 20, 2012, 08:28:30 PM
my humble opinion:

if we apply multiple of 5 for cement sector and extrapolate the earnings based on 1st q results

MLCF EPS 2.3 so TP should be 11.5... 25 - 30% upside. However, I believe it has the potential to surprise. KTML had done 6.5 Rs right issue. my gut feel that they will double that investment. Have traded alot in last six months in this share and it has always surprised. In this q results SG&a expense is one of the lowest percentage if compared to industry hence overall margins r in top 3 among the sector. If there is uptick in dispatches margiins will further improve. For me it shud do 13-14 till mar apr timeframe.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hammad01 on October 20, 2012, 10:59:35 PM
Fazal bhai,
share price varied with expected earnings and not based on last qtr earnings. Forexample both MLCF and KOHC cement future earnings are expected to be better than first qarter earnings; whereas, CHCC cement earnings are expected to be less than first quarter.
Overall its winter time where energy crisis and slow progress in construction is expected. cement prices are due for correction in winter quarter.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: saifullahkhan7 on October 21, 2012, 01:36:19 AM
Hammad bhai I think the following factors will effect sales:

1. Reduction in Interest Rate,
2. Reduction in Load-shedding [winters],
3. Stabilizing Coal Prices
4. All the three companies have smaller capacity, which allows them to run on near full capacity, thus reducing costs.
5. All Pakistan Cement Manufacturers' data shows that exports mostly remain the same from July-Sept (3rd Quarter) and Oct-Dec (4th Quarter) except for the last year where there was significant decrease in export. [though I am working on local dispatches now].
(http://s8.postimage.org/83c6wqh75/Cement_Export.jpg) (http://postimage.org/image/83c6wqh75/)

Comments please!
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: malikk on October 21, 2012, 02:45:36 PM
this one is gold. golden opportunity to buy at current rates

Yar itna ziada cement stocks hain aur sab k lia acha bola ja reha hay. Main kia loon samaj nahi aa rehi, koi to guide kary yar. Laina sirf aik hi hay.

Dehan bhai aap tu khud guru hain , aap ko koi kia bataye  ::) ... but DCL FCCL r gud .... only flying, mlcf is v.gud fr day trading ... ma humble opinion  ;)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: naumaan on November 01, 2012, 07:17:18 PM
Experts! Please tell me its TP for this year  :thanks:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aliraza on November 01, 2012, 07:30:44 PM
Experts! Please tell me its TP for this year  :thanks:

last night good call dehan bhai ttoday enjoy i am mlcf moving   :dance :dance
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on November 01, 2012, 07:58:51 PM
Experts! Please tell me its TP for this year  :thanks:

last night good call dehan bhai ttoday enjoy i am mlcf moving   :dance :dance

Asal call Stock Trader bhai ki hay. Main to os par Ameen kehnain walon main hon. Thanks to Dr. Sahib.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: naumaan on November 01, 2012, 08:15:55 PM
Experts! Please tell me its TP for this year  :thanks:

last night good call dehan bhai ttoday enjoy i am mlcf moving   :dance :dance

Asal call Stock Trader bhai ki hay. Main to os par Ameen kehnain walon main hon. Thanks to Dr. Sahib.

Stock Trader bhai / Dehan bhai!!! whats the target of MLCF or one should stay away now  :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SaadChamp on November 01, 2012, 10:50:35 PM
Experts! Please tell me its TP for this year  :thanks:

last night good call dehan bhai ttoday enjoy i am mlcf moving   :dance :dance

Asal call Stock Trader bhai ki hay. Main to os par Ameen kehnain walon main hon. Thanks to Dr. Sahib.

Stock Trader bhai / Dehan bhai!!! whats the target of MLCF or one should stay away now  :fingerscrossed1:


seniors buying karni chahiye is level pe ab ya wait for a downside ??
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: malikk on November 01, 2012, 11:20:12 PM
Experts! Please tell me its TP for this year  :thanks:
last night good call dehan bhai ttoday enjoy i am mlcf moving   :dance :dance
Asal call Stock Trader bhai ki hay. Main to os par Ameen kehnain walon main hon. Thanks to Dr. Sahib.
Stock Trader bhai / Dehan bhai!!! whats the target of MLCF or one should stay away now  :fingerscrossed1:
seniors buying karni chahiye is level pe ab ya wait for a downside ??

wait for downside
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: tac786 on November 02, 2012, 07:42:12 AM
Experts! Please tell me its TP for this year  :thanks:
last night good call dehan bhai ttoday enjoy i am mlcf moving   :dance :dance
Asal call Stock Trader bhai ki hay. Main to os par Ameen kehnain walon main hon. Thanks to Dr. Sahib.
Stock Trader bhai / Dehan bhai!!! whats the target of MLCF or one should stay away now  :fingerscrossed1:
seniors buying karni chahiye is level pe ab ya wait for a downside ??

wait for downside

inshallah 11 short term
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SaadChamp on November 02, 2012, 06:57:15 PM
Experts! Please tell me its TP for this year  :thanks:
last night good call dehan bhai ttoday enjoy i am mlcf moving   :dance :dance
Asal call Stock Trader bhai ki hay. Main to os par Ameen kehnain walon main hon. Thanks to Dr. Sahib.
Stock Trader bhai / Dehan bhai!!! whats the target of MLCF or one should stay away now  :fingerscrossed1:
seniors buying karni chahiye is level pe ab ya wait for a downside ??

wait for downside

inshallah 11 short term

do you suggest entry at this level?  :dunno:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hisham on November 05, 2012, 09:55:29 AM
Excellent result. Great to buy below 11.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: junaidph on November 07, 2012, 08:24:26 PM
yar can any one tell me its cash item or badla item.........
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: myk on November 13, 2012, 01:16:33 PM
Expecting a rally soon to 12 rs
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: myk on November 14, 2012, 10:41:14 AM
Expecting a rally soon to 12 rs

Now its Ktml turn and still good level to take entry . remember ktml hold 65% of mlcf.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aliraza on November 14, 2012, 10:53:34 AM
Expecting a rally soon to 12 rs

Now its Ktml turn and still good level to take entry . remember ktml hold 65% of mlcf.

again good view dehan bahi mlcf boom boom afridi :dance :dance
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on November 14, 2012, 01:24:09 PM
 :dance :dance :shoaby: :shoaby: :thumbsup_anim: :thumbsup_anim: :clap1: :clap1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: jay on November 14, 2012, 01:34:10 PM
where to exit , pls advise.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: myk on November 14, 2012, 01:38:51 PM
Expecting a rally soon to 12 rs

Now its Ktml turn and still good level to take entry . remember ktml hold 65% of mlcf.

again good view dehan bahi mlcf boom boom afridi :dance :dance

Thanks  :good  and as i said before will be looking to offload near 12 Rs
For KTML RS 15-20 ( It holds 65 % shares of MLCF and yearly eps around 10 RS . I dont have to tell how Attractive it is at current rates.)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on November 14, 2012, 01:57:31 PM
good call myk

repped +1

will pay more attention to your calls next time  :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: myk on November 14, 2012, 02:55:28 PM
good call myk

repped +1

will pay more attention to your calls next time  :biggthumpup:

Thanks 007  :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: myk on November 15, 2012, 11:07:56 AM
Expecting a rally soon to 12 rs

Now its Ktml turn and still good level to take entry . remember ktml hold 65% of mlcf.

again good view dehan bahi mlcf boom boom afridi :dance :dance

Thanks  :good  and as i said before will be looking to offload near 12 Rs
For KTML RS 15-20 ( It holds 65 % shares of MLCF and yearly eps around 10 RS . I dont have to tell how Attractive it is at current rates.)

Target achieved  :biggthumpup: now looking for KTML to reach 15-20 by December.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on November 15, 2012, 11:34:00 AM
 :biggthumpup:

will buy a chunk on your recommnedation
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Zain on November 15, 2012, 12:40:50 PM
Maple Leaf Cement: Perfectly poised to gain from improving sector dynamics

 

Event

·         Maple Leaf Cement (MLCF) has provided a return of 513% since the start of  this calendar year. While the price performance may make some investors  cautious of future return prospects, we still consider MLCF as best placed to  benefit from declining fuel and power costs, fall in interest rates, and strong  cement prices. Moreover, availability of historical tax losses ensures that MLCF  will enjoy tax holidays for next 2-3 years.

 

·         Sanguine earnings outlook coupled with improving sector and market dynamics will result in continued  outperformance: MLCF reported net earnings of PKR0.65/share in 1QFY13, as against loss of PKR0.46/share in  the same period last year. For 2QFY13, we expect Maple to post earnings in vicinity of PKR0.85, aided by lower coal  prices and financial charges. We have assumed cement prices to stay at current levels though we have incorporated  slight decline in cement dispatches.

 

·         For FY13, we expect Maple to report net earnings of PKR3.19/share. This will be the highest EPS reported by the  company in its history. Interestingly, the company reported earnings of PKR3.16/share with Kibor hovering around  9.1% back in FY06. In FY13, the company is expected to post record earnings with Kibor around 9.3%. The stark  difference lies in stock prices, as in FY06, MLCF touched high of PKR49.2/share (intraday high of PKR50.55/share)  whereas in FY13, the stock touched high of PKR11.34/share yesterday (intraday high PKR11.34/share, see Fig 3  and Fig 4).

 

Price catalyst

·         Catalyst: Strong results in coming quarters, strength/ stability in cement prices, declining/stable coal prices, reduction  in interest rates in upcoming monetary policy.
FOUNDATION SECURITIES
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: myk on November 15, 2012, 12:56:58 PM
:biggthumpup:

will buy a chunk on your recommnedation

Hope it works for both of us  :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: jay on November 15, 2012, 01:01:24 PM
Expecting a rally soon to 12 rs

Now its Ktml turn and still good level to take entry . remember ktml hold 65% of mlcf.

good and well intime call, thanks myk. i booked profit today one second cap.

again good view dehan bahi mlcf boom boom afridi :dance :dance

Thanks  :good  and as i said before will be looking to offload near 12 Rs
For KTML RS 15-20 ( It holds 65 % shares of MLCF and yearly eps around 10 RS . I dont have to tell how Attractive it is at current rates.)

Target achieved  :biggthumpup: now looking for KTML to reach 15-20 by December.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on November 15, 2012, 01:45:06 PM
'''For KTML RS 15-20 ( It holds 65 % shares of MLCF and yearly eps around 10 RS . I dont have to tell how Attractive it is at current rates.)'''

For ktml
1q consolidated eps was 2.59
standalone eps was 0.76
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abid_ali on November 15, 2012, 04:07:50 PM
:biggthumpup:

will buy a chunk on your recommnedation
it is testing the nerves of janta and big B wants exit of janta, flight is ready, boarder will enjoy ride.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: soulpower on November 15, 2012, 05:04:26 PM
Watching this share since long but didn't have the courage to jump in.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: myk on November 19, 2012, 12:03:04 PM
Expecting a rally soon to 12 rs

Now its Ktml turn and still good level to take entry . remember ktml hold 65% of mlcf.

again good view dehan bahi mlcf boom boom afridi :dance :dance

Thanks  :good  and as i said before will be looking to offload near 12 Rs
For KTML RS 15-20 ( It holds 65 % shares of MLCF and yearly eps around 10 RS . I dont have to tell how Attractive it is at current rates.)

Finding its way to target .   :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: naumaan on November 28, 2012, 06:56:03 PM
Pakistan cement producer Maple Leaf Cement Factory, is on course to record its most highest profit in six years on the back of higher cement prices and lower interest rates to reduce loan payments.

According to reports by Businessweek, earnings per share may rise to about PKR3 in the year ending June 2013, according to Waleed Tariq Saigol, a member of the company’s board of directors. EPS in the previous 12 months was PKR0.84.

Maple Leaf plans to reduce its debt to PKR13bn (US$135m) in the year ending June, from the PKR16bn it owes to banks for expansion since 2005, Saigol said. Lower interest rates have helped reduce financial charges after the central bank reduced borrowing costs for a second meeting last month.

“This year is going to be a good one for Maple,” said Sateesh Balani, a research analyst at Elixir told Businessweek. “Even a modest capacity utilisation level of 70 per cent will help the company make good earnings on the back of strong cement prices.”

Maple Leaf Cement Factory has a 3.37Mta integrated cement plant in Daudkhel, Punjab. In 2011, the company produced 2.84Mt of cement as compared to 3.34Mt during the year before.

http://www.cemnet.com/News/story/151101/maple-leaf-cement-factory-on-course-for-higher-fy13-profit.html (http://www.cemnet.com/News/story/151101/maple-leaf-cement-factory-on-course-for-higher-fy13-profit.html)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: libra786 on December 10, 2012, 05:36:40 PM
Huge Volumes and Price upsurge ! In last 3 minutes rose from 13.51 to 14.10 . What should be the strategy  ? Hold or sell ?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umer on December 17, 2012, 02:28:34 AM
Itna Alla share aur just 8 pages of Maple Leaf Cement. Bhaio iske forum ko kuch hara bhara karo plz share your views about it for up coming time .
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Saiti on December 17, 2012, 10:24:37 AM
Itna Alla share aur just 8 pages of Maple Leaf Cement. Bhaio iske forum ko kuch hara bhara karo plz share your views about it for up coming time .

it can go both up and down. inshallah. Allah knows best.
It went up and then down.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on December 17, 2012, 10:36:08 AM
Itna Alla share aur just 8 pages of Maple Leaf Cement. Bhaio iske forum ko kuch hara bhara karo plz share your views about it for up coming time .

it can go both up and down. inshallah. Allah knows best.
It went up and then down.
'
its up again .. it may go up or down from here.  :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Saiti on December 17, 2012, 10:49:13 AM
Itna Alla share aur just 8 pages of Maple Leaf Cement. Bhaio iske forum ko kuch hara bhara karo plz share your views about it for up coming time .

it can go both up and down. inshallah. Allah knows best.
It went up and then down.
'
its up again .. it may go up or down from here.  :fingerscrossed1:
Better go down to provide me with a buying oppertunity.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umer on December 22, 2012, 10:58:03 PM
It is a best share for day trade these days with having little risk to go a bit down if I am not wrong
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on December 26, 2012, 10:09:48 AM
as per my estimates, if no change in fundamentals, MLCF is targetting Rs. 40/- mark in 2 years. Upside of 180 percent.

Kindly give input.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umar on December 26, 2012, 11:06:48 AM
as per my estimates, if no change in fundamentals, MLCF is targetting Rs. 40/- mark in 2 years. Upside of 180 percent.

Kindly give input.

Kindly explain the underlying assumptions of your calculation.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on December 26, 2012, 11:14:28 AM
phase wise debt reduction resulting in decrease in liabilities / finance cost and increase in equity / bottomline.
Eps of 7-8 in 2014-15
I need input of others.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: fazal on December 26, 2012, 11:42:09 AM
phase wise debt reduction resulting in decrease in liabilities / finance cost and increase in equity / bottomline.
Eps of 7-8 in 2014-15
I need input of others.

Yes possible but difficult because cement is cyclical. 3 years extended run may be difficult.. For calculation purposes if they reduce the liabilities by all the profit earned (3 eps * 592 M shares) max they can reduce 3.6 B in liabilities in 2 years. So even if liability cost @ 15% then will reduce about 525 M of interest expense so have an impact of 1 Rs approx on eps that makes it 4 Rs eps. Capacity Utilization has to go to 85% if they want to hit to 1.5 Rs quarter earning. This assumes 33% gross margin which is 29 - 30 % at this point in time. My take is 6 Rs eps and 30 Rs by June - Dec 2014 provided cement prices remain sticky and coal does not rise.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on December 26, 2012, 12:09:10 PM
as per my estimates, if no change in fundamentals, MLCF is targetting Rs. 40/- mark in 2 years. Upside of 180 percent.

Kindly give input.

thats a very big 'if'.
Costs will continue to increase as rupee depreciates
keep in mind, coal is not the only cost, other costs like excavation/mining, transport/distribution, packaging,fuel/electricity
all increase with a weaker rupee
If the cartel (being politely called 'marketing arrangement' by some houses)
continues, we can assume partial passthrough of  the increase in costs to customers
However, volumes should continue to improve as lots of pent up demand for housing in the country and any improvement in GDP growth will increase cement demand by multiple.

i have exposure to mlcf via ktml.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: llllll on December 26, 2012, 02:45:37 PM
excellent input from members on mlcf,
only concern is Group history and mlcf payout record.
if cement sector prospects r so rosy than late entry fully
justified but pl suggest more solid bets for orphans, widows, pensioners and unemployed.
i hold mucl only at present
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: engrusama on December 26, 2012, 06:34:48 PM
excellent input from members on mlcf,
only concern is Group history and mlcf payout record.
if cement sector prospects r so rosy than late entry fully
justified but pl suggest more solid bets for orphans, widows, pensioners and unemployed.
i hold mucl only at present

solid bets are dividend paying stocks as these can withstand strong ups and downs. hubc springs directly to mind along with pkgp and ncpl and npl. cements main acpl and maybe lucky... finally ffc and ffbl.... i refer to these scrips based on the assumption of a non active investor who is more interested in not losing his money than in becoming rich overnight.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: llllll on December 26, 2012, 08:47:17 PM
Many thanks but dil tu bacha haay tu greed mostly prevails over shukar , sorry I wasn't very clear in my message, I meant solid maal in cement sector . I think following my message, farzooq bhai immediately highlighted dgkc potential and I too c dgkc as much better and safer scrip tham mlcf for kamzoor dil or those with limited funds. High risk addicts can look at pioc figures and expected future gains
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: makenamjad on January 11, 2013, 05:33:16 PM
Many thanks but dil tu bacha haay tu greed mostly prevails over shukar , sorry I wasn't very clear in my message, I meant solid maal in cement sector . I think following my message, farzooq bhai immediately highlighted dgkc potential and I too c dgkc as much better and safer scrip tham mlcf for kamzoor dil or those with limited funds. High risk addicts can look at pioc figures and expected future gains



results coming in on feb hope for best for MLCF and if results are according to plan then june eps could make it solid and it could go till 25
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: makenamjad on January 16, 2013, 03:34:53 PM
Pakistan cement producer Maple Leaf Cement Factory, is on course to record its most highest profit in six years on the back of higher cement prices and lower interest rates to reduce loan payments.

According to reports by Businessweek, earnings per share may rise to about PKR3 in the year ending June 2013, according to Waleed Tariq Saigol, a member of the company’s board of directors. EPS in the previous 12 months was PKR0.84.

Maple Leaf plans to reduce its debt to PKR13bn (US$135m) in the year ending June, from the PKR16bn it owes to banks for expansion since 2005, Saigol said. Lower interest rates have helped reduce financial charges after the central bank reduced borrowing costs for a second meeting last month.

“This year is going to be a good one for Maple,” said Sateesh Balani, a research analyst at Elixir told Businessweek. “Even a modest capacity utilisation level of 70 per cent will help the company make good earnings on the back of strong cement prices.”

Maple Leaf Cement Factory has a 3.37Mta integrated cement plant in Daudkhel, Punjab. In 2011, the company produced 2.84Mt of cement as compared to 3.34Mt during the year before.

http://www.cemnet.com/News/story/151101/maple-leaf-cement-factory-on-course-for-higher-fy13-profit.html (http://www.cemnet.com/News/story/151101/maple-leaf-cement-factory-on-course-for-higher-fy13-profit.html)


Still unable to understand its behaivior if EPS could go to PKR. 3 then it should be at 20 or plus . y still showing much resistance.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umer on January 16, 2013, 11:48:02 PM
@makenamjad khuda ka shukar kro bhai mlcf sustained above 14 where on other hand other scripts are declining badly bcoz of political uncertainity and second reason due market correction
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hash on January 26, 2013, 03:08:14 PM
hello
        internal sources confirm that maple leaf will touch the 22 mark in two weeks time ..... inspite of a sharp rise its still attractive .. inshaALLAH it'll put 3-4 rupees in 2 weeks time !
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sanwar on January 27, 2013, 03:16:22 PM
hello
        internal sources confirm that maple leaf will touch the 22 mark in two weeks time ..... inspite of a sharp rise its still attractive .. inshaALLAH it'll put 3-4 rupees in 2 weeks time !

@hash, how long have you been trading at kse...??
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Count on January 27, 2013, 11:46:42 PM
hello
        internal sources confirm that maple leaf will touch the 22 mark in two weeks time ..... inspite of a sharp rise its still attractive .. inshaALLAH it'll put 3-4 rupees in 2 weeks time !


22 ki awaz ab poori mkt mein aam hai...  :tongue:

Lekin there's no doubt in it that MLCF is good.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on January 29, 2013, 04:35:25 PM
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=040644

they should have done this at least 6 months ago ...
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sanwar on January 29, 2013, 05:39:50 PM
Can it rise like other cement scripts (chcc, kohc etc...)...??
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aalam on January 29, 2013, 05:42:55 PM
already from 1.7 to 18....... :laugh:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hash on January 29, 2013, 06:34:26 PM
sanwar bro i dont think that period matters ... the thing which matters is " right thing at the right time " .... a very influential fund manager is after this script .. " for some reasons ill not disclose the name " ..... a tip reached me n i thought of giving it to all ... best of luck :) ... sanwar bro if yew want yew can mail me in person as well !
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on January 29, 2013, 06:50:11 PM
sanwar bro i dont think that period matters ... the thing which matters is " right thing at the right time " .... a very influential fund manager is after this script .. " for some reasons ill not disclose the name " ..... a tip reached me n i thought of giving it to all ... best of luck :) ... sanwar bro if yew want yew can mail me in person as well !

apkay influential fund manager ko 18 par yaad aya hai yeh ?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aalam on January 29, 2013, 06:51:57 PM
gr8 oulman
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abdul Qadir on January 29, 2013, 07:01:28 PM
Us fund manager ko maal sell krna hoga......... :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Irfankhan on January 29, 2013, 07:51:14 PM
Us fund manager ko maal sell krna hoga......... :D
Allah Khair karey itna bara satta 1.7 se 18
bhai i bought at 4 and sold at 4.75 and i was very happy. poor me.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: silentvoice on January 31, 2013, 10:02:01 AM

Pakistan Credit Rating Agency Limited assigns entity rating of “BB” (Double B), short term rating of “B” (B) to Maple Leaf Cement Factory Limited

Posted: 29 Jan 2013 06:41 AM PST

Lahore, January 29, 2013 (PPI-OT): The Pakistan Credit Rating Agency Limited (PACRA) has assigned a long term entity rating of “BB” (Double B) and short term rating of “B” (B) to Maple Leaf Cement Factory Limited. Meanwhile, Sukuk issue of PKR 8,000mln has been assigned a rating of “BB+” (BB Plus).

These ratings denote that there is a possibility of credit risk developing, particularly as a result of adverse economic change over time; however, business or financial alternatives may be available to allow financial commitments to be met. The ratings reflect MLCFL’s improving business margins, in turn profitability, an outcome of higher retention prices, supported by favourable local demand.

The management, while expecting continuity of prevailing industry dynamics, intends to strengthen its market position by optimizing its brand and distribution network. The ratings are, however, constrained by weak financial profile of MLCFL.

The company has a highly leveraged capital structure, wherein sizable upcoming loan repayment maturity magnifies stress on debt service coverage’s. Comfort is drawn from steady improvement in cash flows that are largely aligned to lately restructured debt repayment schedule. In this regard, the company’s ability to preserve its business margins besides effective utilization of available capacity would remain important.

The ratings are dependent on the sufficient internal cash generation to stay current on committed debt obligations. Meanwhile, any significant weakening in cement prices, increase in input costs, and/or fall in product demand may put additional pressure on overall risk profile of the company.

For more information, contact:
Hammad Rashid
Analyst
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
Email: hammad.rashid@pacra.com
Web: www.pacra.com
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Farzooq on January 31, 2013, 11:16:54 AM

MLCF: 1HFY13 EPS expected at PKR1.52

Result expectation Maple Leaf Cement Factory Limited (MLCF) is scheduled to announce its 1HFY13 earnings today. We expect the company to post PAT of PKR803mn (EPS: PKR1.52). Earnings for 2QFY13 will likely clock in at PKR419mn (EPS: PKR0.79). Lower cost of sales to increase earnings MLCF will likely post EPS of PKR0.79 in 2QFY13 primarily because of lower cost of sales for the period. According to our channel checks, MLCF is using a 50:50 fuel mix of coal and petroleum coke in its kiln. As per our estimates, per ton cost of fuel using this mix of pet coke and coal will likely come in at PKR1,326/ton of cement produced, a saving of 11% from the use of 100% coal only.

Dispatches to remain stable We expect MLCF's dispatches to come in at 0.64mn tons. This will translate into net sales of PKR3.9bn for the company, up 8% YoY. Local dispatches will likely be around 0.50mn tons, a 5% increase YoY, whereas export dispatches will be around 0.15mn tons, decreasing by 2% YoY. MLCF's market share for 2QFY13 will be around 8%, in line with its market share in 1QFY13.
Downgrade to HOLD MLCF is currently above our Dec-13 price target of PKR17.6/share and is trading at FY13 PER of 6.0x. We have downgraded MLCF from BUY to HOLD

elixir
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hash on January 31, 2013, 12:07:32 PM
Laaaaaaaaao ..... maple leaf ..... outstanding result ..... 2.56 for half year whereas market was expecting 1.40 ..... i told u .... keep buyings intact .....
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on January 31, 2013, 12:11:50 PM
wow great result

http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=040715

2.56 for half year, 1.86 for the quarter
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: tosto220 on January 31, 2013, 12:21:38 PM
very impresive result.
3rd qtr bhai accha hi ho ga. 20--22 tak tu jana chahiyay ab is ko

seniors plz comments
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: myk on January 31, 2013, 12:43:03 PM
TARGET 25 by 2 April but Dont know why its lagging right now
Last time on its annoucement it showed the same behavior .
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: kuki on January 31, 2013, 03:17:36 PM
very impresive result.
3rd qtr bhai accha hi ho ga. 20--22 tak tu jana chahiyay ab is ko

seniors plz comments
yes very impressive @ -85
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: kuki on January 31, 2013, 03:32:23 PM
yeh acha mazak hai ke result acha aur lower cap ke nazdeek band.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: asadullah1977 on January 31, 2013, 03:40:21 PM
institutional selling must be as it happened with me in one week twice. had efoods and sold it when the result was announced as it was near to mkt expectation. not a huge difference.

now mlcf tremendous result bought it at 17.50 never had an idea that it will roll down means sumfin is not rite or they wanted the weak investor to freak off. i did hold this time and dun know what lies ahead.

on the contrary efoods jumped..........really jumped :( huhu huhu :rtfm:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aalam on January 31, 2013, 04:28:21 PM
buy on expactation and sell on realization...... :rtfm:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hammad01 on February 01, 2013, 07:49:05 AM
Has some one found any one time gains for MLCF in 2nd quarter? If this EPS is purley on account of sales and is sustainable then it has got tremendous potential.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: tosto220 on February 01, 2013, 11:55:08 AM
not found anyone time gain in half yearly accounts, reason is that cement's margin have been very firm in half year and 3 rd qtr is also expected to follow the same trend as after winter construction activity will rise in country. i think some one is accumulating as yesterdays delivery position was very healthy.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Hypnotized on February 01, 2013, 04:20:31 PM
institutional selling must be as it happened with me in one week twice. had efoods and sold it when the result was announced as it was near to mkt expectation. not a huge difference.

now mlcf tremendous result bought it at 17.50 never had an idea that it will roll down means sumfin is not rite or they wanted the weak investor to freak off. i did hold this time and dun know what lies ahead.

on the contrary efoods jumped..........really jumped :( huhu huhu :rtfm:


Cheeeer up!  :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abid_ali on February 01, 2013, 04:35:51 PM
institutional selling must be as it happened with me in one week twice. had efoods and sold it when the result was announced as it was near to mkt expectation. not a huge difference.

now mlcf tremendous result bought it at 17.50 never had an idea that it will roll down means sumfin is not rite or they wanted the weak investor to freak off. i did hold this time and dun know what lies ahead.

on the contrary efoods jumped..........really jumped :( huhu huhu :rtfm:


Cheeeer up!  :D
you will get 18.5 rate on monday, Insha Allah
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on February 10, 2013, 09:41:51 PM
http://www.kmlg.com/mlcfl_q2_dec_2012.pdf
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on February 24, 2013, 02:49:10 PM
Many thanks but dil tu bacha haay tu greed mostly prevails over shukar , sorry I wasn't very clear in my message, I meant solid maal in cement sector . I think following my message, farzooq bhai immediately highlighted dgkc potential and I too c dgkc as much better and safer scrip tham mlcf for kamzoor dil or those with limited funds. High risk addicts can look at pioc figures and expected future gains

afsoos uss waqt dgkc buy karnaay ki HIMMAT nahi ki :confused1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dove on February 28, 2013, 07:30:49 AM
 Some serious selling for the last few sessions:fingerscrossed1:









Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stalker on February 28, 2013, 04:13:17 PM
kis gunaaah ki sazaaa derahay ho maple :(
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dove on February 28, 2013, 04:29:13 PM
kis gunaaah ki sazaaa derahay ho maple :(
:D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on February 28, 2013, 05:14:09 PM
kis gunaaah ki sazaaa derahay ho maple :(
yaar dnt worry asamad dil khush kar de ga ye ...  ;)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stalker on February 28, 2013, 05:15:46 PM
kis gunaaah ki sazaaa derahay ho maple :(
yaar dnt worry asamad dil khush kar de ga ye ...  ;)

Allah teri zabaaan mubarak karay :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on February 28, 2013, 06:40:39 PM
kis gunaaah ki sazaaa derahay ho maple :(
yaar dnt worry asamad dil khush kar de ga ye ...  ;)

Allah teri zabaaan mubarak karay :D

MLCF is buy on dip. At every 0.50 Rs. dip buy. The first one is on 17.50. Dont take tension, just relax.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stalker on February 28, 2013, 06:59:11 PM
i hope aik uppar ki rally aye kal.. hadh sai zyaada jama karlya hai aaj at an avg of 17.92... need to offload few mlcf tomorow
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sanwar on February 28, 2013, 09:18:46 PM
kis gunaaah ki sazaaa derahay ho maple :(
yaar dnt worry asamad dil khush kar de ga ye ...  ;)

Allah teri zabaaan mubarak karay :D

@Dehan bhai, thanks a lot for defining "dip" for novice like me...
Most of the time I keep wondering about how much dip should be considered for buying...


MLCF is buy on dip. At every 0.50 Rs. dip buy. The first one is on 17.50. Dont take tension, just relax.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on February 28, 2013, 11:34:00 PM
kis gunaaah ki sazaaa derahay ho maple :(
yaar dnt worry asamad dil khush kar de ga ye ...  ;)

Allah teri zabaaan mubarak karay :D

MLCF is buy on dip. At every 0.50 Rs. dip buy. The first one is on 17.50. Dont take tension, just relax.
i second tht dehan... bhai log suno kya keh rahe hai dehan bhai  :rtfm:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stalker on March 01, 2013, 04:57:45 PM
leee aao bc isko 5 rupaay par.. hadh hai yaar
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on March 01, 2013, 05:48:53 PM
leee aao bc isko 5 rupaay par.. hadh hai yaar

Aik dip pa hi ghabra gaay.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stalker on March 01, 2013, 09:40:24 PM
leee aao bc isko 5 rupaay par.. hadh hai yaar

Aik dip pa hi ghabra gaay.

dehan ghabraya nahi hun :P.. aaj mai ne 18.15 par bechay 20% mlcf aur 17.51/17.41 par utha lye..
gussa araha hai yaar... bc market kahan sai kahan jarahi hai aur yeh chuswa raha hai apni.. atleaaast 20 par to settle ho :(
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on March 01, 2013, 10:04:05 PM
leee aao bc isko 5 rupaay par.. hadh hai yaar

Aik dip pa hi ghabra gaay.

dehan ghabraya nahi hun :P.. aaj mai ne 18.15 par bechay 20% mlcf aur 17.51/17.41 par utha lye..
gussa araha hai yaar... bc market kahan sai kahan jarahi hai aur yeh chuswa raha hai apni.. atleaaast 20 par to settle ho :(
Bhai sabr naam ki koi cheez b hoti hai asamad piocc wala ...
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stalker on March 01, 2013, 10:37:28 PM
leee aao bc isko 5 rupaay par.. hadh hai yaar

Aik dip pa hi ghabra gaay.

dehan ghabraya nahi hun :P.. aaj mai ne 18.15 par bechay 20% mlcf aur 17.51/17.41 par utha lye..
gussa araha hai yaar... bc market kahan sai kahan jarahi hai aur yeh chuswa raha hai apni.. atleaaast 20 par to settle ho :(
Bhai sabr naam ki koi cheez b hoti hai asamad piocc wala ...

bahi pkk.. abh pioc wala nahi hun :P.. abh mlcf wala...
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Capricon83 on March 05, 2013, 10:32:03 PM
A little recovery closed at    17.15    +0.23
Any suggestion for tomorrow ???
What to do with 17.9 holding :dunno:
Sell on strength and wait for the dip or just hold????
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Allah Tawakal on March 14, 2013, 10:05:51 PM
seniors why everybody has abandoned this forum? plz advise on TP of MLCF. whats the selling off target..  :down:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on March 14, 2013, 10:21:36 PM
seniors why everybody has abandoned this forum? plz advise on TP of MLCF. whats the selling off target..  :down:

Short term 18 and around announcement 20.  :dance


Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on March 14, 2013, 11:14:36 PM
seniors why everybody has abandoned this forum? plz advise on TP of MLCF. whats the selling off target..  :down:

Short term 18 and around announcement 20.  :dance
Annoucement kab hai  dehan ? ? i will be offloading in mid 18 though .. happily  :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on March 20, 2013, 07:19:00 PM
seniors why everybody has abandoned this forum? plz advise on TP of MLCF. whats the selling off target..  :down:

Short term 18 and around announcement 20.  :dance

Short term TP achieved today. Intraday high was 18.03.  :clap1:  :dance  :dance  :dance
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Allah Tawakal on March 25, 2013, 06:46:17 PM
friends anybody having idea about result announcement date? :rtfm:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aliraza on March 25, 2013, 07:13:40 PM
friends anybody having idea about result announcement date? :rtfm:

bhai i think end of april bm annoucme ho ga
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Allah Tawakal on March 27, 2013, 07:18:20 PM
can senior bro throw lite on what the hell is going wrong with MLCF? and with whole cement sector...  :console:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Capricon83 on March 27, 2013, 10:24:31 PM
can senior bro throw lite on what the hell is going wrong with MLCF? and with whole cement sector...  :console:

Today there was a news of reduction in cement prices of Rs. 15 per bag  uuu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on March 27, 2013, 10:43:55 PM
Will avg it near or below 16  ;)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Allah Tawakal on March 29, 2013, 01:13:14 AM
U think it can go down to level of 16? I dnt think so.. rumour based mandi in cement sector.. wont persist for long
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dove on March 29, 2013, 07:03:37 AM
U think it can go down to level of 16? I dnt think so.. rumour based mandi in cement sector.. wont persist for long
What r the rumours A T? Can you share some, please? But whatever is with you, please keep an eye on DR related developments and keep your stop loss firmly in place.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Allah Tawakal on March 29, 2013, 03:49:17 PM
yeah Dove, capricorn shared two days back that there was a news of possible price reduction in cement bags.. thats why achanak mandi.. but Alhamdo Lillah its over today  :clap1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Capricon83 on March 29, 2013, 03:57:01 PM
Alhamdulillah MLCF  :clap1: :clap1:

Lakin aaj Tribune main aik news thi

http://tribune.com.pk/story/527993/construction-materials-scandal-surfaces-alleging-cartelisation-in-cement-sector/

I don't know k yeh Cement Sector ko effect karay gi ya nahi  :$: :$: :$:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on March 29, 2013, 03:58:33 PM
MLCF ko tou nahin kya
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on March 29, 2013, 04:57:17 PM
U think it can go down to level of 16? I dnt think so.. rumour based mandi in cement sector.. wont persist for long
Muje laga k ayega to hi average karunga ... chalo nahi aya ..acha hai .. waise mapple ki fluctuation bahot e ziada hai ..
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on March 29, 2013, 05:22:05 PM
seniors why everybody has abandoned this forum? plz advise on TP of MLCF. whats the selling off target..  :down:

Short term 18 and around announcement 20.  :dance

Short term TP achieved today. Intraday high was 18.03.  :clap1:  :dance  :dance  :dance

Below 16 say 18+ k baad aikbar phir below 17 and now again heading towards 18+. KIa baat hay MLCF ki.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aliraza on March 29, 2013, 05:55:09 PM
seniors why everybody has abandoned this forum? plz advise on TP of MLCF. whats the selling off target..  :down:

Short term 18 and around announcement 20.  :dance

Short term TP achieved today. Intraday high was 18.03.  :clap1:  :dance  :dance  :dance

Below 16 say 18+ k baad aikbar phir below 17 and now again heading towards 18+. KIa baat hay MLCF ki.

today i am again sell mlcf and enjoy weekend
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dove on March 29, 2013, 07:40:02 PM
Sold 50k today. Bought 16.90 to 17.16 three days back. Keeping another 50k for anything above 18.40. Will buy back if it comes down to around 17, though i beleive it can cross 19 and even 20 anytime after 15 april. A violently volatile scrip at the moment.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on March 29, 2013, 08:57:41 PM
Sold 50k today. Bought 16.90 to 17.16 three days back. Keeping another 50k for anything above 18.40. Will buy back if it comes down to around 17, though i beleive it can cross 19 and even 20 anytime after 15 april. A violently volatile scrip at the moment.
range bound hai .. good money can be made in mapple ...16/18
is baar 19+ hona chahiye with qtr results coming arround
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: NoorMaier on April 01, 2013, 12:23:19 PM
For Latest Analysis of MLCF visit this link
http://noormaier.net/kse-analysis/mlcf-maple-leaf-cement-analysis-27-march-2013/
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: NoorMaier on April 04, 2013, 02:12:03 PM
for full report of today's analysis of MLCF visit this link
http://economy.pk/analysis/kse-analysis/mlcf-maple-leaf-cement-analysis-04-april-2013/
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Farzooq on April 09, 2013, 03:16:32 PM
Maple Leaf Cement (MLCF): Rising with the tide

   We highlight MLCF as part of our strategy of consistently highlighting major outperformers in the cement sector. We preview MLCF’s FY13 results, targeting Jun13 TP of PKR26/sh. This represents 37% upside from current levels – BUY!

   In 1HFY13, PAT of the company witnessed a healthy turnaround to PKR1.4bn (EPS: PKR2.56) compared to a loss of PKR223mn (LPS: PKR0.47) in the same period last year

   Notable uptick in gross margins (up by massive 11pps) plus 24% YoY lower cost were the prime reasons behind stellar earnings growth

   Significant deleveraging of balance sheet, robust cement prices and lower coal prices will continue to carry the earnings momentum

   For FY13/14, we expect MLCF to post PAT of PKR3.0/PKR3.1bn (EPS: PKR5.7/PKR6.0), which represents current PER multiples of attractive 3.3x/3.2x
 
bma
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dove on April 09, 2013, 09:55:02 PM
TP of 22  is more likely by end Apr 13. If fy eps of 6 is achieved, as per bma estimates, then it can go even beyond 30.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: U.Khan on April 10, 2013, 04:32:29 PM
seniors plz guide about this share it went down after touching high of 19.89. same was happened yesterday when it came down after reaching around 19.7
what will be the target price by the end of April?  :thanks:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on April 10, 2013, 05:13:10 PM
Pl, pl keep away from such suspect scrips and overvalued bluechips until correction has taken place, I have offloaded40% maal and clear in my mind I wouldnt touch this cash until v have seen reasonable correction. Entry isnt a problem because v will c few below par results but its the painful and expensive forced exit which hurts when u r caught in suspect scrips. If buy kharish uncontrolable than go through senior and respected members post for less risky buy. I bought more dll yesterday for kharish relief but any significant upward move might led to profit taking good luck salam
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: U.Khan on April 10, 2013, 05:23:30 PM
Thanks Salammembers  :thanks:
i have noted your point
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on April 10, 2013, 05:51:12 PM
Pl, pl keep away from such suspect scrips and overvalued bluechips until correction has taken place, I have offloaded40% maal and clear in my mind I wouldnt touch this cash until v have seen reasonable correction. Entry isnt a problem because v will c few below par results but its the painful and expensive forced exit which hurts when u r caught in suspect scrips. If buy kharish uncontrolable than go through senior and respected members post for less risky buy. I bought more dll yesterday for kharish relief but any significant upward move might led to profit taking good luck salam
itchgaurd le lete ap ...cap o cap relief hoti ..  :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stockz_123 on April 10, 2013, 05:53:36 PM
Pl, pl keep away from such suspect scrips and overvalued bluechips until correction has taken place, I have offloaded40% maal and clear in my mind I wouldnt touch this cash until v have seen reasonable correction. Entry isnt a problem because v will c few below par results but its the painful and expensive forced exit which hurts when u r caught in suspect scrips. If buy kharish uncontrolable than go through senior and respected members post for less risky buy. I bought more dll yesterday for kharish relief but any significant upward move might led to profit taking good luck salam
itchgaurd le lete ap ...cap o cap relief hoti ..  :D


 :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 10, 2013, 07:48:49 PM
seniors plz guide about this share it went down after touching high of 19.89. same was happened yesterday when it came down after reaching around 19.7
what will be the target price by the end of April?  :thanks:

Target Price is 22+.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Allah Tawakal on April 10, 2013, 08:06:38 PM
dehan bro this target expectation of 22 is till when?  :skeptic:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 10, 2013, 08:13:35 PM
dehan bro this target expectation of 22 is till when?  :skeptic:

Bhai April ki baat ho rehi thi, too ye April-2013 ka hi target hay.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: naumaan on April 16, 2013, 03:06:20 PM
Instead of going up (to touch 22 in April), its going down ... it seems April is far away  :lazy2:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on April 16, 2013, 04:29:12 PM
april main 22 lag sakta hai
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: NoorMaier on April 17, 2013, 10:11:48 AM
MLCF bullish bias above 17.00
for full analysis check this link
http://economy.pk/analysis/kse-analysis/mlcf-maple-leaf-cement-analysis-17-april-2013/
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stockz_123 on April 17, 2013, 05:15:07 PM
MLCF bullish bias above 17.00
for full analysis check this link
http://economy.pk/analysis/kse-analysis/mlcf-maple-leaf-cement-analysis-17-april-2013/

good one Noor  :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: tariqmbahrm on April 17, 2013, 06:22:41 PM
good work noor bhai great work  :dance :dance
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: RSI Fan on April 17, 2013, 07:56:01 PM
MLCF bullish bias above 17.00
for full analysis check this link
http://economy.pk/analysis/kse-analysis/mlcf-maple-leaf-cement-analysis-17-april-2013/

Hey Noor, can u do a similar analysis for CHCC and DGKC or provide the links pl.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on April 17, 2013, 09:02:00 PM
(http://i281.photobucket.com/albums/kk233/mbby2k/MLCF_zps87e0154c.png) (http://s281.photobucket.com/user/mbby2k/media/MLCF_zps87e0154c.png.html)

MLCF rebounded from the lower trend line, and should good recovery

couple of positive sessions can be seen now

(http://i281.photobucket.com/albums/kk233/mbby2k/UpChannel2_zps5441f86f.jpg) (http://s281.photobucket.com/user/mbby2k/media/UpChannel2_zps5441f86f.jpg.html)

(http://i281.photobucket.com/albums/kk233/mbby2k/UpChannel_zps97b1fbd6.png) (http://s281.photobucket.com/user/mbby2k/media/UpChannel_zps97b1fbd6.png.html)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: kpall99 on April 18, 2013, 02:41:47 PM
MLCF Board meeting for 3rd Quarter on 25-April-2013 @ 11:00 AM, Laaahore..
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 18, 2013, 02:48:00 PM
MLCF Board meeting for 3rd Quarter on 15-April-2013 @ 11:00 AM, Laaahore..

Bhai date check kar lain 15 april to guzar choki
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: kpall99 on April 18, 2013, 02:55:30 PM
MLCF Board meeting for 3rd Quarter on 15-April-2013 @ 11:00 AM, Laaahore..

Bhai date check kar lain 15 april to guzar choki

Thanks Dehan Bhai it is 25th April.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 20, 2013, 01:59:11 PM
MLCF Board meeting for 3rd Quarter on 15-April-2013 @ 11:00 AM, Laaahore..

Bhai date check kar lain 15 april to guzar choki

Thanks Dehan Bhai it is 25th April.

MLCF is going to achieve the ever highest ESP in its history during this FY. The last highest EPS was Rs. 3.16 in 2006. The highest price of MLCF is Rs. 55.55 (14-02-2006).

The BM is on 25th of April. As per my expectation the EPS shall be between Rs. 3.95-- 4.15. And for the yearly EPS might be around Rs. 6.00.

So as per my opinion its laoooooooooooooooooo maaaaaaaaaaaal hay.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: tahirdxb on April 20, 2013, 02:10:27 PM
Great Job. Laooo Mall hay Dehan bhai. Inshallah 4caps daikh raha hoon In shah Allah
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on April 21, 2013, 12:13:05 AM
certainly cheap on forward pe multiples
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: YMF on April 24, 2013, 06:12:08 PM
www.kseinvesting.blogspot.com/
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: tahirdxb on April 24, 2013, 06:18:47 PM
Maple Leaf Cement Factory ---   Board Meeting 11:00 am (Target Price: PKR 30/share)

Maple Leaf Cement factory is expected to post earnings of PKR 1.60/share and I expect profit before tax to clock in at PKR 867 million which is slightly lower than PKR 900 million for the previous quarter. Slightly lower earnings should be expected QoQ because of a seasonal drop in sales that impacts all cement companies. 9mFY13 earnings should clock in at PKR 4.08/share.

Earnings for the full year are expected at PKR 6.04/share and the stock is relatively cheap when compared on a P/E basis to its peers. Constant deleveraging will cause Maple Leafs earnings to continue to keep on growing in quarters to come while this will limit a payout in the near future, EPS will keep on increasing in quarters to come.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 24, 2013, 06:32:03 PM
Maple Leaf Cement Factory ---   Board Meeting 11:00 am (Target Price: PKR 30/share)

Maple Leaf Cement factory is expected to post earnings of PKR 1.60/share and I expect profit before tax to clock in at PKR 867 million which is slightly lower than PKR 900 million for the previous quarter. Slightly lower earnings should be expected QoQ because of a seasonal drop in sales that impacts all cement companies. 9mFY13 earnings should clock in at PKR 4.08/share.

Earnings for the full year are expected at PKR 6.04/share and the stock is relatively cheap when compared on a P/E basis to its peers. Constant deleveraging will cause Maple Leafs earnings to continue to keep on growing in quarters to come while this will limit a payout in the near future, EPS will keep on increasing in quarters to come.

Report kis House ki hay, Tahir Bhai.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: YMF on April 24, 2013, 06:55:23 PM
Maple Leaf Cement Factory ---   Board Meeting 11:00 am (Target Price: PKR 30/share)

Maple Leaf Cement factory is expected to post earnings of PKR 1.60/share and I expect profit before tax to clock in at PKR 867 million which is slightly lower than PKR 900 million for the previous quarter. Slightly lower earnings should be expected QoQ because of a seasonal drop in sales that impacts all cement companies. 9mFY13 earnings should clock in at PKR 4.08/share.

Earnings for the full year are expected at PKR 6.04/share and the stock is relatively cheap when compared on a P/E basis to its peers. Constant deleveraging will cause Maple Leafs earnings to continue to keep on growing in quarters to come while this will limit a payout in the near future, EPS will keep on increasing in quarters to come.

Report kis House ki hay, Tahir Bhai.

report nahi hai .. blog hai.. www.kseinvesting.blogspot.com
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on April 24, 2013, 07:58:50 PM
Maple Leaf Cement Factory ---   Board Meeting 11:00 am (Target Price: PKR 30/share)

Maple Leaf Cement factory is expected to post earnings of PKR 1.60/share and I expect profit before tax to clock in at PKR 867 million which is slightly lower than PKR 900 million for the previous quarter. Slightly lower earnings should be expected QoQ because of a seasonal drop in sales that impacts all cement companies. 9mFY13 earnings should clock in at PKR 4.08/share.

Earnings for the full year are expected at PKR 6.04/share and the stock is relatively cheap when compared on a P/E basis to its peers. Constant deleveraging will cause Maple Leafs earnings to continue to keep on growing in quarters to come while this will limit a payout in the near future, EPS will keep on increasing in quarters to come.

Report kis House ki hay, Tahir Bhai.

report nahi hai .. blog hai.. www.kseinvesting.blogspot.com
U too operate a blog i guess ?? do u ?? is this the one ?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Tired of broker on April 25, 2013, 10:00:23 AM
INSHALLAH aj cap ho ga :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Tired of broker on April 25, 2013, 11:02:46 AM
Cement sector depends upon its result............. if not good then can go down all the cement sector
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Farzooq on April 25, 2013, 11:27:37 AM

MLCF: 9MFY13 EPS Expected at PKR3.66/Share

Result expectation
 Maple Leaf Cement Factory Limited (MLCF) is scheduled to announce its 9MFY13 financial result today. We expect the company to post profit of PKR1,928mn (EPS: PKR3.66) against a loss of PKR221mn (LPS: PKR0.49) during same period last year. Earnings for 3QFY13 are estimated at PKR578mn (EPS: PKR1.10) against same period last year.

Margin expansion to continue
 We expect average retention price for 3QFY13 to clock in at PKR6,204/ton, up 6% YoY. Cost of sales are expected to clock in at PKR4,159/ton. Strong cement prices would likely lift gross profit margin by 21% to PKR2,045/ton. EBITDA margin for the quarter is estimated at PKR2,154/ton, up 53% YoY. However, we believe the company’s EBTIDA margin would fall on QoQ basis by 14%, as we estimate 35pp less use of pet coke, a cheaper alternate fuel to coal, during this quarter.

Lower interest rates to reduce finance costs
 We expect finance cost to drop sharply for 3QFY13 to PKR400mn, down 28% YoY primarily due to lower interest rates as the company’s debt has reduced by only 7%. As of Dec-12, MLCF’s total debt was PKR16.2bn, PKR1.2bn lower than Dec-11 level of PKR17.4bn.

Tax reversal expected for 3QFY13
 The Company booked tax reversal of PKR455mn in 1HFY13. We estimate deferred income tax losses of PKR862mn carried forward since FY08 till 1HFY13. We expect more tax reversals during 2HFY13. With the assumption of utilization of accumulated tax losses of PKR862mn in next 4 quarters, we expect a tax reversal of PKR62mn in 3QFY13. We have assumed tax rates of 20%, 30% and 30% for FY14, FY15 and FY16 respectively. Tax adjustment is the major reason behind the volatility in future estimated earnings of the company.

Maintain Hold
 We revise down exit PER for MLCF from 6.0x to 5.0x due to lower expected payouts and sustainable earnings growth. Using PER of 5.0x on FY14 earnings, we arrive at Dec-13 PT of PKR20/share. MLCF is currently trading at a FY14 PER of 4.8x and offers an upside of 5% to our PT. HOLD!

Elixir
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Atif1 on April 25, 2013, 12:16:42 PM
Mlcf profit before tax= 2122m
Profit after tax = 2197m
PAT is greater than PBT.
EPS 9 m= 4.16
3rd Q EPS= 1.6
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 25, 2013, 12:47:19 PM
MLCF Board meeting for 3rd Quarter on 15-April-2013 @ 11:00 AM, Laaahore..

Bhai date check kar lain 15 april to guzar choki

Thanks Dehan Bhai it is 25th April.

MLCF is going to achieve the ever highest ESP in its history during this FY. The last highest EPS was Rs. 3.16 in 2006. The highest price of MLCF is Rs. 55.55 (14-02-2006).

The BM is on 25th of April. As per my expectation the EPS shall be between Rs. 3.95-- 4.15. And for the yearly EPS might be around Rs. 6.00.

So as per my opinion its laoooooooooooooooooo maaaaaaaaaaaal hay.

Reported EPS is Rs. 4.16. Rs. 0.01 i.e. one paisa above than my estimate.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sanwar on April 25, 2013, 08:41:10 PM
MLCF Board meeting for 3rd Quarter on 15-April-2013 @ 11:00 AM, Laaahore..

Bhai date check kar lain 15 april to guzar choki

Thanks Dehan Bhai it is 25th April.

MLCF is going to achieve the ever highest ESP in its history during this FY. The last highest EPS was Rs. 3.16 in 2006. The highest price of MLCF is Rs. 55.55 (14-02-2006).

The BM is on 25th of April. As per my expectation the EPS shall be between Rs. 3.95-- 4.15. And for the yearly EPS might be around Rs. 6.00.

So as per my opinion its laoooooooooooooooooo maaaaaaaaaaaal hay.

Reported EPS is Rs. 4.16. Rs. 0.01 i.e. one paisa above than my estimate.

@Dehan bhai, right on the spot...
What should be short term tp to sell (i.e. before 11th May)...??
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stalker on April 25, 2013, 10:38:14 PM
Insha Allah kal 20 toh touch karjaiga !!
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: genius mind on April 30, 2013, 09:11:22 PM
Technical Update:
MLCF after getting support at my predicted level of 18.30 it has today shown some positive movement and have given positive closing. Technically there is good sign on MLCF graph which indicate end of downtrend and can move upward indeed good show and cap is what i am expecting on thursday or max friday it has charm as per technical to move upward so technically buy ahh raha hai as it is about to reach oversold area and get ready for the show to unleash:P well one should be careful at 19.34 level and However I am seeing 3 risk ahead to my prediction.

Risk to Technical:

Risk 1: KSE reached near 19000 and it can be physiological barrier among investor and can act as resistance level where bull has to fight with bears to move upward soon.
Risk 2: MLCF still below its super resistance level of 19.34 however position of sts suggest that it has tendency to cross resistance level 1 19.34 with ease but still resistance hai toh carefull toh rehna chaiye:)
Risk 3: Political scenario: Any surprising news regarding politics or election will make my technical wont work.


Resistance and Support Level:

R1: 19.34
R2:19.50
Support 1 :18.50
Support 2: 18.30
Support 3: 18.10

Recommendation:
MLCF look bullish and technically high possibility is there it can make new high but do play with stop loss in mind in current law and order situation:)

Remember members i am not advising any investment decision i am just sharing my knowledge do as u wish base on your risk appetite as it is possible market may react other way.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 01, 2013, 08:50:03 PM
http://www.kmlg.com/mlcfl_q3_mar_2013.pdf
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on May 01, 2013, 08:54:34 PM
(http://i281.photobucket.com/albums/kk233/mbby2k/MLCF_zpsa7d3e062.png) (http://s281.photobucket.com/user/mbby2k/media/MLCF_zpsa7d3e062.png.html)

17.36 is lower trend line support, i doubt it will break that
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on May 01, 2013, 09:54:13 PM
I have 50k mlcf shares @ 18.90. please advise me to sell share to purchase at cheaper rate on 17 or below. as my guess is too that due to up coming election it will drop to 16 (Rauf guess).  :crying_anim02:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on May 01, 2013, 10:02:29 PM
 :console:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 01, 2013, 10:43:25 PM
I have 50k mlcf shares @ 18.90. please advise me to sell share to purchase at cheaper rate on 17 or below. as my guess is too that due to up coming election it will drop to 16 (Rauf guess).  :crying_anim02:

rauf kon hai ?  :ohmy:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: genius mind on May 01, 2013, 10:44:22 PM
I have 50k mlcf shares @ 18.90. please advise me to sell share to purchase at cheaper rate on 17 or below. as my guess is too that due to up coming election it will drop to 16 (Rauf guess).  :crying_anim02:
Hold it 16 no chance in short term on technical and fundamental basis it will be like free to have mlcf at 17 toh 16 bonus hoga bhai daroo met agar ziada daar lagey toh subah chance lagey toh strength per out ho jana ya qty reduce ker dena:).

Bhai this is my dehan i am not advising any investment decision as market may react other way so do as u wish..
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: engrusama on May 01, 2013, 10:51:03 PM
I have 50k mlcf shares @ 18.90. please advise me to sell share to purchase at cheaper rate on 17 or below. as my guess is too that due to up coming election it will drop to 16 (Rauf guess).  :crying_anim02:

rauf kon hai ?  :ohmy:

I think he means rough :[
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on May 01, 2013, 11:11:12 PM
Yes i mean rough instead of "Rauf" sorry for spelling mistake
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on May 01, 2013, 11:14:17 PM
Rauf lala  :laugh:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on May 01, 2013, 11:49:16 PM
it wil consolidate for some time before further rise.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: rahimjavaid on May 03, 2013, 03:30:29 PM
Rauf lala  :laugh:

 :laugh: :laugh: :laugh: :laugh: :laugh:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on May 03, 2013, 03:48:39 PM
it wil consolidate for some time before further rise.

agreed
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: genius mind on May 03, 2013, 04:03:58 PM
007 bhai as i said on SMC chat Friday seems to be a profit taking day and since three trade it was finding difficuilt to cross 19.10 level so i think ajj profit taking ho gi and it can get support near 18.10-18.30..However abhi filhal strong support at 18.70 hope ye break na ho with closing below such level
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: kuki on May 03, 2013, 04:18:32 PM
the whole cement sector isbeing kept under pressure by some gamers
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Pisces on May 03, 2013, 05:18:47 PM
election se phelay market nechey nahi ayege

election ke baad nechey anay ke chances he election se phalay mushkil dhikta hain market nechey aana

market hamesha hamari soach ke ulat chalti he

yeh mera dehan hain baqi app  wohi karo jo app ko sahi lagay
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: RSI Fan on May 06, 2013, 05:34:15 PM
Rauf lala  :laugh:

PK u r tooooooo good...... :tongue: :tongue: :tongue: make my day even when the chips are down  :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 09, 2013, 10:25:05 AM
http://www.brecorder.com/brief-recordings/0:/1180194:maple-leaf-cement/?date=2013-04-30
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: shahrukht on May 10, 2013, 03:07:51 PM
for me MLCF is the most undervalued of all cement shares after FECTC cement. its last quarter eps was 1.6 and yet its sits at only around Rs19/share. DGKC had an eps 3.3 which is only double that of MLCF and it is valued at Rs70/share! MLCF should atleast be Rs25-26, right now. and it will go up INSHALLH. i say BUY!
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: kpall99 on May 10, 2013, 03:16:21 PM
for me MLCF is the most undervalued of all cement shares after FECTC cement. its last quarter eps was 1.6 and yet its sits at only around Rs19/share. DGKC had an eps 3.3 which is only double that of MLCF and it is valued at Rs70/share! MLCF should atleast be Rs25-26, right now. and it will go up INSHALLH. i say BUY!


Yeh tau 1 mahenay se sun rahay hein ke 22-25 ka hoga. Finally I sold today at 19.14 but by mistake I actually purchased instead of selling   :mad:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on May 10, 2013, 09:19:53 PM
for me MLCF is the most undervalued of all cement shares after FECTC cement. its last quarter eps was 1.6 and yet its sits at only around Rs19/share. DGKC had an eps 3.3 which is only double that of MLCF and it is valued at Rs70/share! MLCF should atleast be Rs25-26, right now. and it will go up INSHALLH. i say BUY!


Yeh tau 1 mahenay se sun rahay hein ke 22-25 ka hoga. Finally I sold today at 19.14 but by mistake I actually purchased instead of selling   :mad:
Rauf trader hai aap  :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abdul Qadir on May 13, 2013, 05:30:07 PM
laoooooo 25
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on May 13, 2013, 05:40:04 PM
time frame ? june 13?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abdul Qadir on May 13, 2013, 05:45:07 PM
Short term mai 22 tu hona chaiye atleast
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 13, 2013, 11:37:04 PM
Short term mai 22 tu hona chaiye atleast

ktml ko bhi chaladein yar
ktml market cap is 4 billion. mlcf market cap is 10 billion.
ktml owns 65% of mlcf ..
 uuu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on May 14, 2013, 09:12:03 AM
Short term mai 22 tu hona chaiye atleast

ktml ko bhi chaladein yar
ktml market cap is 4 billion. mlcf market cap is 10 billion.
ktml owns 65% of mlcf ..
 uuu
Mapple chalega ktml shath chalega ...
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Tired of broker on May 14, 2013, 09:54:05 AM
Please sell on strength and reduce your portfolio for every share.
Mkt is highly overgbought and can take dip so better to sell and then again get chance to enter
election ki jo tezi ani thi woh a gai....
ab correction ka time a gia hey
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on May 14, 2013, 11:37:08 AM
Please sell on strength and reduce your portfolio for every share.
Mkt is highly overgbought and can take dip so better to sell and then again get chance to enter
election ki jo tezi ani thi woh a gai....
ab correction ka time a gia hey

(http://www.wccftech.com/forum/images/smilies/L0L.gif) (http://www.wccftech.com/forum/images/smilies/L0L.gif)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on May 14, 2013, 11:39:52 AM
Please sell on strength and reduce your portfolio for every share.
Mkt is highly overgbought and can take dip so better to sell and then again get chance to enter
election ki jo tezi ani thi woh a gai....
ab correction ka time a gia hey

correction kabhe bta kr nhe ati.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: kuki on May 15, 2013, 12:27:13 PM


mlcf directors are sellings their shares
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=044264#
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: engrusama on May 16, 2013, 01:41:56 AM
At present the best low price share is  Fauji Cement (FCCL) .This share has a potential to go up to Rs-50 very soon.At present a  group of big investor is accumulating it at Rs-11.50,then will buy at 12 then at 13,14 ........and so on which is no price for this share.The pattern at which buying is done is very depressing and painful for small invester that the big invester is creating huge volumes with very less price increase due to which the small invester is compelled to sell its holdings at a very low margin.The big invester after buying its huge volumes with little price increase will again take the price in to negative zone to depress the small invester that he should sell his holdings to avoid any loss.Maple leaf share (mlcf) which has no worth has been raised from Rs-2 to Rs-19.5 and the Gold mine share fauji cement which has a very high value in near future has been depressed to a very low price level just to accumulate for himself.This is the way big invester make fool of the small investers ,due to which small invester suffer huge losses.For example the price of DGKC and LUCKY cement are being increased un-necessarily up to very high levels and attraction is made for small invester to buy these shares at these levels which is actually not the  worth of these shares.
Following are the reason that why the fauji cement has a good potential to go up to a very high price levels from its present price level
.Present price level is almost around Rs-11.50 which is a very low price for this share
.Location of Fauji cement factory is very ideal to export cement to India and Afghanistan.As Nawaz Sharief has announced that he will have good relation /trade with India. Presently India has a great need of Pakistani cement and as soon as trade is open India is a big market for export of Pakistani cement.
.The cement manufacturing plant of fauji cement factory is new having state of the art technology with a very low fuel consumption cost.
.Fauji cement factory has a very big cement production capacity.
.Nawaz sharief Govt will soon announce construction of big dams to overcome the problem of load shedding and water shortage.In fact constructions of dams would have started earlier by any govt which is now to late,but now it is a matter of our survival as the hydro electricity which is produced by water is the cheapest in the world.
.A big programme for construction of roads,bridges,buildings and houses will be soon announced by Nawaz sharief GOVT which will have a very high consumption of cement.
.Due to big construction programmes the shortage of cement will be created and hence the price increase of cement will increase which will increase the profit margin of cement company as well.Even at this price level per bag of cement the cement companies are earning good profit.The international coal price has also come to a very low level ,this coal is used in cement factories and cheaper coal price has also increased the profit margin of cement companies.
Fauji cement factory located near Rawalpindi is the nearest cement factory to any possible big dam site,which is a big advantage for this company.
.So these were the few key factors which  will shoot the prices of Fauji cement share to a very high level with good profit margins very very soon.
 

Fccl 9 month eps 1.138 and Mlcf 9 month eps 4.16.  You do make very good argument but as of these earnings, i would say Mlcf is still under valued. In my view, Fccl is undervalued taking into account future earnings. Would say dgkc and lucky are pretty fair priced too..
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: NoorMaier on May 16, 2013, 11:22:03 AM
MLCF Analysis Have a look pls
http://noormaier.net/kse-analysis/mlcf-maple-leaf-cement-analysis-16-may-2013/
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sAr on May 16, 2013, 11:41:20 AM
I agree with you but,


Quote
Location of Fauji cement factory is very ideal to export cement to India and Afghanistan

Indian market is already oversupplied and Capacity Utilization is at record low. Read this

http://www.reuters.com/article/2013/04/22/india-ultratech-earnings-idUSL3N0D91SQ20130422 (http://www.reuters.com/article/2013/04/22/india-ultratech-earnings-idUSL3N0D91SQ20130422)
Export prospects to India seems slim. While for Afghanistan, the levy issue is still not settled and entails ambiguity over Demand after levy imposition. And after 2014, the future of afghanistan looks bleak atleast to me.

And secondly for local demand, i believe development will take time. And embarking upon Dam building required huge Budget, which is not available as of now. Construction of road networks, housing will not happen suddenly. And when it do, there are many players in the market (DGKC Favourite). As the local market remains Over supplied, Sudden uptick in demand cant be expected

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on May 16, 2013, 04:47:58 PM
 :dance What is next target brother. Please tell  :$:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on May 16, 2013, 07:17:47 PM
Upward movement expected tomm .. should show 20  :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on May 16, 2013, 08:59:18 PM
laoooo pk
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on May 16, 2013, 09:09:52 PM
laoooo pk
20 na dikhaya to 19 hi dekhlena  :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stalker on May 16, 2013, 09:14:23 PM
insha Allah 20 kal touch karna chahye..
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: pax on May 17, 2013, 09:45:03 AM
What a smooth rise today :)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sAr on May 17, 2013, 09:52:01 AM
Upward movement expected tomm .. should show 20  :fingerscrossed1:

insha Allah 20 kal touch karna chahye..

Good call boys..
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Hobbyist on May 17, 2013, 10:33:15 AM
thank God maple leaf is locked. it was starting to test my patience.  :dance :thumbsup_anim:
hope the rally continues until 22 at least
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on May 17, 2013, 10:37:50 AM
forwaqar brother, it will go atleast 24 as production capacity is at full in Maple Leaf cement and more chances of boom :clap1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on May 17, 2013, 11:24:52 AM
laoooo pk
20 na dikhaya to 19 hi dekhlena  :D

+1 for pk
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abdul Qadir on May 17, 2013, 11:33:33 AM
laoooooo 25


 :clap1: :clap1: :clap1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 18, 2013, 08:14:23 AM
I agree with you but,


Quote
Location of Fauji cement factory is very ideal to export cement to India and Afghanistan

Indian market is already oversupplied and Capacity Utilization is at record low. Read this

http://www.reuters.com/article/2013/04/22/india-ultratech-earnings-idUSL3N0D91SQ20130422 (http://www.reuters.com/article/2013/04/22/india-ultratech-earnings-idUSL3N0D91SQ20130422)
Export prospects to India seems slim. While for Afghanistan, the levy issue is still not settled and entails ambiguity over Demand after levy imposition. And after 2014, the future of afghanistan looks bleak atleast to me.

And secondly for local demand, i believe development will take time. And embarking upon Dam building required huge Budget, which is not available as of now. Construction of road networks, housing will not happen suddenly. And when it do, there are many players in the market (DGKC Favourite). As the local market remains Over supplied, Sudden uptick in demand cant be expected

thanks nice share
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 18, 2013, 08:15:23 AM
http://investorguide360.com/wp-content/uploads/2013/05/Shajar-Research3.pdf

mlcf tp 37 according to shajar  :[
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on May 21, 2013, 05:00:36 PM
laoooooo 25


 :clap1: :clap1: :clap1:

 :dance :clap1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abdul Qadir on May 22, 2013, 05:36:07 PM
Abhi tu Start hai.... :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on May 22, 2013, 06:59:47 PM
qadir sb aur kiss cement script main app bullish hain  :thanks:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: faizy777 on May 22, 2013, 07:47:38 PM
qadir bhai apna tp bhi batadain
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: farooq92 on May 22, 2013, 08:17:05 PM
Friends catch the price race of the volume leader FCCL, don't miss it, target price of volume leader is very very far away.
The FCCL  price race first target is, to catch the price of maple leaf cement.For this you can see the previous 10 years price history of maple leaf cement and fauji cement.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on May 22, 2013, 08:18:45 PM
bhai maan li app ki baat kay fccl 25 ka ho gaye ga

mlcf kay peechay tou na paroo plzzzzz
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Capricon83 on May 23, 2013, 09:28:50 PM
MAPLE LEAF CEMENT FACTORY

Deleveraging draws attention

? We highlight the market is yet to fully appreciate turnaround in fortunes of Maple Leaf Cement Factory (MLCF). A turn around in pre-tax profit in 9MFY13 led primarily by margin has started to impact the company’s leverage. Debt to Asset is down 67% in 9M and our preliminary calculation shows dip to 47% within 2-yrs. Among peers, MLCF remains the only player with significant room for volume growth without capacity expansion. Valuation are attractive at FY14E P/E of 5.44x, 9% discount to peers and implies further room for stock returns post 50% run-up in CY13 to date.

Impact
? Likely areas for improvement: MLCF’s 9MFY13 performance indicates a wide room for improvement in 3 key areas; (1) focus on exports, (2) improvement in margins, and (3) utilization levels. Exports contribute only 10% to MLCF’s total 9M offtake which is below the industry average of 24%. Within FS universe, Lucky’s focus is more towards exports with a contribution of 40%, followed by ACPL, DGKC and FCCL with 31%, 30% and 23%, respectively, in 9MFY13. Furthermore, gross margin of MLCF stood at 34% which is lower relative to its peers (it is 7% lower than the average gross margin of LUCK, DGKC). MLCF utilized its capacity at 64% in 9MFY13 which is below the average utilization level of big cement  players (76% in 9MFY13).

? Deleveraging is anticipated to improve bottom line: MLCF started FY13 with a debt level of PKR17bn translating into debt/asset ratio of 52%.  However, the company has paid PKR 2.9bn during 9MFY13 (debt/asset dropped to 49%). We believe MLCF can significantly delever its balance sheet in the next 2 years as it should be able to generate strong EBITDA of PKR6.6bn p.a in the next two years. This will help reduce the financial burden if the company prepays its debt for which we see high chances. Interest cost saving alone can contribute PKR400mn p.a in MLCF’s bottomline.


4Q to fare better: We have assumed a tax rate of 5% in 4Q on the back of unused tax losses of ~PKR1.04bn. We expect MLCF to post PKR5.51/sh in FY13 on account of (1) higher net retention prices, (2) improved margins, and (3) deferred tax asset.

? 9MFY13 performance: During 9MFY13, topline surged by sizeable 14% YoY to PKR 12.7bn as a result of 14% YoY increase in average net retention prices to PKR6,519/tonne. On YoY basis, volumes remained flat at 1.9mn in 9MFY13 whereas 3Q offtake of MLCF have declined by 2%QoQ. 18% YoY decline in coal prices led COGS to remain under control at PKR8.4bn in 9MFY13. Consequently, gross profit has posted robust growth to PKR6bn, up by 55% YoY. On the other hand gross margin dropped by 300bps to 34% in 3QFY13 owing to (1) 5% QoQ increase in coal prices reaching to USD90/tonne and, (2) flat average retention prices.

Action & recommendation
? We highlight the market is yet to fully appreciate turnaround in fortunes of MLCF. Sustainability of profitability and likely deleveraging of balance sheet should improve market confidence and can trigger further shrinkageof valuation discount MLCF trades versus its peers. MLCF trades at FY13E P/E & EV/EBITDA of 3.97x & 5.25x, respectively compared to the FS universe average P/E and EV/EBITDA of 6x and 4.18x.

FS Edge

MORE TO COME IN SHA ALLAH  :good
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 23, 2013, 10:08:56 PM
"Among peers, MLCF remains the only player with significant room for volume growth without capacity expansion."

blind or stupid ?

 uuu
 fccl (larger than mlcf ),  kohc pioc (smaller) all have significiant vol growth left
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ksemr on May 24, 2013, 02:09:23 AM
"Among peers, MLCF remains the only player with significant room for volume growth without capacity expansion."

blind or stupid ?

 uuu
 fccl (larger than mlcf ),  kohc pioc (smaller) all have significiant vol growth left

Jin per takia tha wohi patey hawa deney legey
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Sharoze123 on May 25, 2013, 02:09:24 AM
Ouulman, do you think Maple leaf should be bought at 20.5? or is this price too high
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Tired of broker on May 25, 2013, 09:55:40 PM
Ouulman, do you think Maple leaf should be bought at 20.5? or is this price too high

Cement sector main Flying, Dadabhoy, MLCF,FCCL, DCL, LPCL,Pioneer, ......jis rate per aj kal mil rehey hain le lo
werna phir pachtao gey..............
Cement Sector bullot train ki tarah dorney wala hey INSHALLAH ::)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on May 27, 2013, 12:31:40 AM
Ouulman, do you think Maple leaf should be bought at 20.5? or is this price too high

Brother, loog is mah profit taking kar rahay hai meray khayal se  yeh ek ride deh ga 19-20 se jasy yeh phelay dehta aya hai. So no worry dear just chill and enjoy the ride :shoaby:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on May 27, 2013, 03:16:11 AM
bhaii neechay jatay hua scrip ki ride kaisay enjoy kArtay hai, especially woh jis ka fut contract na hoo  :rtfm:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on May 27, 2013, 09:14:54 AM
Brother sell on high rate and thenm buy back on cheap rate very simple as my furmula in this is working very muich dear
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on May 27, 2013, 02:15:42 PM
coool enjoy the ride then  :tongue:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on May 27, 2013, 06:13:17 PM
bhaii neechay jatay hua scrip ki ride kaisay enjoy kArtay hai, especially woh jis ka fut contract na hoo  :rtfm:

Brother sell on high rate and thenm buy back on cheap rate very simple as my furmula in this is working very muich dear

coool enjoy the ride then  :tongue:

Ouulman, do you think Maple leaf should be bought at 20.5? or is this price too high

Brother, loog is mah profit taking kar rahay hai meray khayal se  yeh ek ride deh ga 19-20 se jasy yeh phelay dehta aya hai. So no worry dear just chill and enjoy the ride :shoaby:


Bhai i am already on ride like many others  :shoaby: :dance :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: NoorMaier on May 28, 2013, 09:07:56 AM
For Latest Analysis of MLCF visit this link
http://economy.pk/analysis/kse-analysis/mlcf-maple-leaf-cement-analysis-28-may-2013/
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abid_ali on May 28, 2013, 05:54:05 PM
Good buy for quick gain tomorrow above 21
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abdul Qadir on May 31, 2013, 12:38:25 AM
Start buying around 21 for second phase...
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sanwar on May 31, 2013, 08:02:20 AM
Start buying around 21 for second phase...
Qadir bhai, what should be the TP...??
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abdul Qadir on May 31, 2013, 08:22:52 AM
Start buying around 21 for second phase...
Qadir bhai, what should be the TP...??


Initial target 25
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on May 31, 2013, 11:24:45 AM
bought in 21.35-45 range
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: RSI Fan on June 01, 2013, 12:06:47 PM
Start buying around 21 for second phase...
Qadir bhai, what should be the TP...??


Initial target 25
By what time, Qadir bhai?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on June 04, 2013, 12:00:49 PM
will be in kmi from 10th june

http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=044598
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Hobbyist on June 04, 2013, 02:43:55 PM
Allah ka lakh lakh shukar maple ko b lock laga..  :dance :dance :good
dunya k har cement ko lock pe lock lag raey han aur ye chup baith tha, even fectc n kohc jasay sust shares b got locked. i think it's still the cheapest cement. hope its rally now doesn't get stuck again before 25   :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: faizy777 on June 04, 2013, 03:39:31 PM
lok laga aur khula bhi  :bangin: :bangin: dekhte hain kal kia hota hai.....
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on June 06, 2013, 10:38:36 PM
Assalam U Aliakum,

Can any body tell me what "MAPLE LEAF CEMENT FACTORY" has any thing special (any news) and why it is continuously moving upward trend. It is now showing in almost top ten high volume trade every day from last two weeks.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abid_ali on June 06, 2013, 10:46:44 PM
Assalam U Aliakum,

Can any body tell me what "MAPLE LEAF CEMENT FACTORY" has any thing special (any news) and why it is continuously moving upward trend. It is now showing in almost top ten high volume trade every day from last two weeks.
It is under valued. It should have been 28 at this time.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on June 06, 2013, 11:04:57 PM
So, do you advise me to buy it ????  :clap1: :clap1: :clap1: :clap1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abid_ali on June 06, 2013, 11:47:23 PM
So, do you advise me to buy it ????  :clap1: :clap1: :clap1: :clap1:
it can be purchased on dips. I am of the opinion that by june result it should be around 30, if no major untoward incident happens.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: High Tech Investor on June 07, 2013, 12:47:36 PM
I am very hopeful that this share will touch Rs. 30 in this month because one of my friend is working in this Company and tell me that production is going very much high from past six months even overtime shifts are going to acheive production target.

 :dance :shoaby: :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on June 11, 2013, 01:18:52 AM
I am very hopeful that this share will touch Rs. 30 in this month because one of my friend is working in this Company and tell me that production is going very much high from past six months even overtime shifts are going to acheive production target.

 :dance :shoaby: :thumbsup_anim:

 :thumbsup_anim: :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on June 15, 2013, 11:47:17 PM
I am very hopeful that this share will touch Rs. 30 in this month because one of my friend is working in this Company and tell me that production is going very much high from past six months even overtime shifts are going to acheive production target.

 :dance :shoaby: :thumbsup_anim:

 :thumbsup_anim: :D

MLCF is rocking like bullet.  :dance :dance :dance
Raise of Rs. 5/- per Share with in two week and In Shaa Allah more to go  :clap1: :clap1: :clap1:
Next trigger is increase per cement bag Rs. 55/- to 65/- on Saturday 15-06-2013  :thumbsup_anim: :thumbsup_anim:
See next week more favourable for MLCF   :good :laugh: :shoaby:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on June 16, 2013, 10:18:50 PM
Get ready for tomorrow show  :clap1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on June 16, 2013, 10:28:17 PM
Get ready for tomorrow show  :clap1:

hum tu ready haay but yeh kse barri bay-wafa place haay :console:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: genius mind on June 17, 2013, 05:51:12 PM
Get ready for tomorrow show  :clap1:
This is what i say a live example of market reacting as bewafa and going other direction :) indeed people were happy were expecting cap but ye it went down:)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on June 19, 2013, 08:16:01 PM
 :tongue:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Hobbyist on June 19, 2013, 11:06:34 PM
copying a post by MZ in  'Cement Sector'.
Laaooo MCLF  :clap1:

The Bell
 
Cements: Several positives; some negatives in budget FY14

Infrastructure projects big enough to boost domestic demand
Government has announced various subsidies for housing. We expect these measures to support cement demand by 0.5-1.0mn tons (2-4% of expected domestic consumption in FY13) during next year. Along with this, PKR59bn have been allocated for building dams and canal linings. The cement used in these projects is Sulphate Resistant Cement (SRC). The companies which produce this cement include MLCF, DGKC, and LUCK and shall be key beneficiaries of these projects.
http://www.elixirsec.com/Research/TheBell19062013.pdf?utm_source=Research%2BReports&utm_medium=Email&utm_campaign=BellDownload
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Hobbyist on June 19, 2013, 11:15:24 PM
Just saw NS on TV visiting the site of Nelum Jhelum project. He was saying the team here says the project will take 3 years, but i am insisting it must complete by 2015.

Laooo cements tomorrow  :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: NoorMaier on June 24, 2013, 09:17:58 AM
CHeck Latest Analysis of MLCF
http://noormaier.net/kse-analysis/mlcf-maple-leaf-cement-analysis-24-june-2013/
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: drifter on June 26, 2013, 10:48:46 PM
Yaar yeh aj phr neechay??

Kia ho geya hai sb stocks koh  huhu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dr. Economist on June 26, 2013, 11:21:49 PM
Yaar yeh aj phr neechay??

Kia ho geya hai sb stocks koh  huhu

kitni dair se kaam ker re ho stocks ka?  :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: drifter on June 27, 2013, 01:00:10 AM
Sir 4 month sey .....
Bus yeh sir dardi hee daal lee hai
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: engrusama on June 27, 2013, 01:41:55 AM
Sir 4 month sey .....
Bus yeh sir dardi hee daal lee hai

Hosla rakho bhai. Thoda buhat oopar neechay hota hay. Cement sector is bound to continue its golden run. Dont worry
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dr. Economist on June 27, 2013, 08:48:20 PM
Sir 4 month sey .....
Bus yeh sir dardi hee daal lee hai

Pata lagra h  :D
Dino me ameer hone ka soocho gy tau kuch bhi earn nai ker pao gey..is liye patience k sath chalo..Don't worry  :console:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on June 28, 2013, 08:16:45 AM
MLCF is a company with highest level of gearing amongst cements and present interest decline has very positive impact on company earnings.

They have over 15 bn of debt, which means about 30 per share is the debt. every year if they pay 5 rupees of debt, they can clear half of the debt in next 3 years.


the capacity utilization is below 70%, that reflects earnings upside potential. the plant has capacity almost similar to FCCL but has 853 million of less share than fccl but at the cost of higher debt.

except the shareholders bad reputation, the company is in its take of stage.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: NoorMaier on June 28, 2013, 09:18:59 AM
Check MLCF Analysis
http://noormaier.net/kse-analysis/mlcf-maple-leaf-cement-analysis-28-june-2013/
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Hobbyist on June 28, 2013, 08:23:44 PM
noticed huge buying below 22 in the last few minutes today. expect it to strike back soon. it has corrected itself tooo... much now.  :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Hobbyist on July 01, 2013, 03:43:56 PM
noticed huge buying below 22 in the last few minutes today. expect it to strike back soon. it has corrected itself tooo... much now.  :fingerscrossed1:

from 21.8 on Friday to 22.84 today   :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on July 14, 2013, 03:05:53 AM
whats the highest you guys think it can go over the next 12 months ... given stable kse100 ( 22-24k range ) and discount rate 10-11% and of course, stable gm
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on July 14, 2013, 03:07:06 AM
28
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on July 14, 2013, 04:10:21 PM
28

Bond bhai I have also the same target.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on July 14, 2013, 11:01:06 PM
how much tax will they have to pay next year  ?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Tired of broker on July 17, 2013, 10:40:08 AM
INSHALLAH going to be capped today
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on July 18, 2013, 11:37:22 AM
 :shoaby: :shoaby:
 :D :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: tariqmbahrm on July 18, 2013, 12:07:18 PM
its Eying towards 35 InahllH :dance :dance :dance :dance
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: drifter on July 18, 2013, 02:03:42 PM
Kal ek topi aur pehnaoooo jaldiii ....
Garmian hain ....

Ajaooooo
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on July 18, 2013, 04:34:15 PM
Kal ek topi aur pehnaoooo jaldiii ....
Garmian hain ....

Ajaooooo

Aur mera target of 28 ho ga pooooooooooooooooooooooooora and i will b out.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on July 18, 2013, 07:05:14 PM
Kal ek topi aur pehnaoooo jaldiii ....
Garmian hain ....

Ajaooooo

Aur mera target of 28 ho ga pooooooooooooooooooooooooora and i will b out.

Sale plan cancelled as per advice of PK bhai.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: naro on July 18, 2013, 07:52:18 PM
Kal ek topi aur pehnaoooo jaldiii ....
Garmian hain ....

Ajaooooo

Aur mera target of 28 ho ga pooooooooooooooooooooooooora and i will b out.

Sale plan cancelled as per advice of PK bhai.

 :good
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: drifter on July 18, 2013, 10:19:03 PM
aisa kia keh dia hai PK bhai nein
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on July 18, 2013, 10:31:49 PM
Kal ek topi aur pehnaoooo jaldiii ....
Garmian hain ....

Ajaooooo

Aur mera target of 28 ho ga pooooooooooooooooooooooooora and i will b out.

Sale plan cancelled as per advice of PK bhai.

hold it if you can for next 6-9 months. its too cheap right now
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Hobbyist on July 19, 2013, 11:34:07 AM
superb run
12m target achieved in 5 days  :thumbsup_anim:
28.57
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on July 19, 2013, 12:16:31 PM
superb run
12m target achieved in 5 days  :thumbsup_anim:
28.57

kiska 12 month target 28 tha  ? aiming too low  ;)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on July 19, 2013, 12:45:11 PM
Oulman why dnt u share wht rate u aiming at   :laugh:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on July 19, 2013, 04:13:53 PM
as per my estimates, if no change in fundamentals, MLCF is targetting Rs. 40/- mark in 2 years. Upside of 180 percent.

Kindly give input.

already managed eps of 4.16 for 9m 2013 and nicely on course for rs. 40
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on July 20, 2013, 06:34:29 AM
as per my estimates, if no change in fundamentals, MLCF is targetting Rs. 40/- mark in 2 years. Upside of 180 percent.

Kindly give input.

already managed eps of 4.16 for 9m 2013 and nicely on course for rs. 40

i am thinking 55 for june -14
Continuous deleveraging, slight improvement in capacity utilization will bring big movement in eps. 
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Tired of broker on July 20, 2013, 02:52:38 PM
as per my estimates, if no change in fundamentals, MLCF is targetting Rs. 40/- mark in 2 years. Upside of 180 percent.

Kindly give input.

already managed eps of 4.16 for 9m 2013 and nicely on course for rs. 40

i am thinking 55 for june -14
Continuous deleveraging, slight improvement in capacity utilization will bring big movement in eps.

my opinion around 35-38 till Oct and if reached this price.... then FCCL will be around 20-24 till October and DCL, and LPCl will be around 12-15 till October
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: drifter on July 21, 2013, 04:31:16 PM
Sold at 28....
That was intial target..
not sure whether did the right thing...
will buy again at 25 InshAllah
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Tired of broker on July 21, 2013, 10:23:13 PM
Sold at 28....
That was intial target..
not sure whether did the right thing...
will buy again at 25 InshAllah

Woh to jab correction aye gi tub 25 ka miley ga. on Tuesday PM is going to announce Energy policy, Most likely will announce about DAMs and if it happen then cement sector will rock, so buy it again.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: High Tech Investor on July 22, 2013, 08:29:36 AM
Sold at 28....
That was intial target..
not sure whether did the right thing...
will buy again at 25 InshAllah

I am also with you my brother  :tongue:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: blindfollower on July 22, 2013, 08:37:42 AM
Sold at 28....
That was intial target..
not sure whether did the right thing...
will buy again at 25 InshAllah

You did a good thing, "Waich Kay Pachtao"!!!
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on July 22, 2013, 10:23:57 AM
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=045315&pagesize=1&pageno=2


saigol uncle selling some shares.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: High Tech Investor on July 22, 2013, 10:45:02 AM
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=045315&pagesize=1&pageno=2


saigol uncle selling some shares.

If Maple Leave company was going good and pay good dividend then why Uncle selling his own company shares on which he has better control and close eyes ????
 :crying_anim02: huhu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on July 22, 2013, 10:47:03 AM
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=045315&pagesize=1&pageno=2


saigol uncle selling some shares.

If Maple Leave company was going good and pay good dividend then why Uncle selling his own company shares on which he has better control and close eyes ????
 :crying_anim02: huhu

just lowering ihis expsoure probably. saigol sb probably had this at 2.5 rupees as well.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: drifter on July 23, 2013, 09:36:40 PM
Yeh toh aj phr cap kee taraf chal parha hai ...
Thora neechay leh aoo ...
Wapsi ka mauqa doh
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: drifter on July 24, 2013, 02:07:07 PM
bhri galti kee hai yaaar.....
yeh kioun sell kia hai..  :bangin: :bangin: :bangin: huhu huhu huhu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on July 24, 2013, 05:53:51 PM
Sold FCCL at 15 (bought at 7.4 in Jan 2013, total gain 100%) and swapped them with MLCF. I believe MLCF is better positioned for further capital gains from here as compared to FCCL.  :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on July 24, 2013, 06:34:07 PM
Sold FCCL at 15 (bought at 7.4 in Jan 2013, total gain 100%) and swapped them with MLCF. I believe MLCF is better positioned for further capital gains from here as compared to FCCL.  :fingerscrossed1:

15.50 wala aj maar dia caaaaaaaaaaaaaaaaaaaaaaaaaaaaaap pa. Now will take a break to re-enter again.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on July 24, 2013, 06:36:10 PM
I am buying and u are selling  :D
It is a strange market!
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on July 24, 2013, 07:02:39 PM
I am buying and u are selling  :D
It is a strange market!

Yehi to mkt hay one is a seller and the otherone is buyer:

Below 8 say 12+ ki aik ride aur phir 15+ pa ldobara entry laina pari, jo aj maar dia. Ab kis rate pa milta hay lets see.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abdul Qadir on July 25, 2013, 11:53:37 PM
45 in next 2 months
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on July 26, 2013, 12:03:30 AM
 :thumbsup_anim: :thumbsup_anim: :thumbsup_anim: :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: drifter on July 26, 2013, 12:41:42 AM
Pehle 29 tak correct kra doh .....
Phr sey entry laine hai iss mein
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: naveed on July 26, 2013, 01:51:40 AM
is ne to kohat cement ki tarah behave kerna shuroo ker dia hy.  Nahi??
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: misterjaved on July 26, 2013, 02:53:17 AM
Best share at the moment............

Thank Qadir bhai for your comments...
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on July 26, 2013, 04:46:32 AM
45 in next 2 months

 :tongue:
Sirf ?
Hold it tight for longer you will get more.  :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on July 27, 2013, 04:40:54 PM
Maple Leaf Cement

Total Shares: 527 million
Total Debt : Rs. 12.3 billion (approx)
Equity : Liabilities = 33:66 approx
Cement Sold (2013) = 2.1 million m/tons (approx)
Annual Capacity : 4.2 million m/tons (Portland Cement)
      : 0.2 million m/tons (white cement)
      : 0.35 mm/tons (sulphate resistant cement)
      : 0.35 mm/tons (low alkali cement)
      : 0.35 mm/tons (oil well cement)
Total      : 5.4 million m/tons (approx)
Capacity Utilization : 55% (approx)
Gross Profit Margins : 33.7%
Projected Eps 2013 : 5.6 (approx)
Eps with 100% capacity utilization: 14.1 (approx)
Eps with 100% cap.utz and all debt cleared: 17.45 (approx)
its fair value comes around Rs. 65/- .
Note that MLCF is paying minimum tax due to accumulated losses shown in the balance sheet.
Recommendation: BUY. It is offering 110% upside w.r.t its fair value.

Input from other members is welcome!
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on July 27, 2013, 05:12:53 PM
Maple Leaf Cement

Total Shares: 527 million
Total Debt : Rs. 12.3 billion (approx)
Equity : Liabilities = 33:66 approx
Cement Sold (2013) = 2.1 million m/tons (approx)
Annual Capacity : 4.2 million m/tons (Portland Cement)
      : 0.2 million m/tons (white cement)
      : 0.35 mm/tons (sulphate resistant cement)
      : 0.35 mm/tons (low alkali cement)
      : 0.35 mm/tons (oil well cement)
Total      : 5.4 million m/tons (approx)
Capacity Utilization : 55% (approx)
Gross Profit Margins : 33.7%
Projected Eps 2013 : 5.6 (approx)
Eps with 100% capacity utilization: 14.1 (approx)
Eps with 100% cap.utz and all debt cleared: 17.45 (approx)
its fair value comes around Rs. 65/- .
Note that MLCF is paying minimum tax due to accumulated losses shown in the balance sheet.
Recommendation: BUY. It is offering 110% upside w.r.t its fair value.

Input from other members is welcome!

it is not generating free cash flows. all the cash goes to debt holders. plus it will take 6-7 years for the debt to be cleared.

but its undervalued I think 40-45 is a more realistic target in the short term (3-12 months).
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on July 27, 2013, 05:17:53 PM
yes, i donot expect any extra ordinary dividend from this company in the short-medium term and it will be better for the company to reduce the debt first in the current low interest scenario. I am banking on eps of 9-10 for 2013-14 and P/E of 6.5x with June 2014 target 65.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abid_ali on July 27, 2013, 06:00:40 PM
Maple Leaf Cement

Total Shares: 527 million
Total Debt : Rs. 12.3 billion (approx)
Equity : Liabilities = 33:66 approx
Cement Sold (2013) = 2.1 million m/tons (approx)
Annual Capacity : 4.2 million m/tons (Portland Cement)
      : 0.2 million m/tons (white cement)
      : 0.35 mm/tons (sulphate resistant cement)
      : 0.35 mm/tons (low alkali cement)
      : 0.35 mm/tons (oil well cement)
Total      : 5.4 million m/tons (approx)
Capacity Utilization : 55% (approx)
Gross Profit Margins : 33.7%
Projected Eps 2013 : 5.6 (approx)
Eps with 100% capacity utilization: 14.1 (approx)
Eps with 100% cap.utz and all debt cleared: 17.45 (approx)
its fair value comes around Rs. 65/- .
Note that MLCF is paying minimum tax due to accumulated losses shown in the balance sheet.
Recommendation: BUY. It is offering 110% upside w.r.t its fair value.

Input from other members is welcome!
This is sincere effort to educate and enlighten others and purpose of this forum. Pl carry it.thanks you a lot.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ali101 on July 29, 2013, 04:05:10 PM
Maple Leaf Cement

Total Shares: 527 million
Total Debt : Rs. 12.3 billion (approx)
Equity : Liabilities = 33:66 approx
Cement Sold (2013) = 2.1 million m/tons (approx)
Annual Capacity : 4.2 million m/tons (Portland Cement)
      : 0.2 million m/tons (white cement)
      : 0.35 mm/tons (sulphate resistant cement)
      : 0.35 mm/tons (low alkali cement)
      : 0.35 mm/tons (oil well cement)
Total      : 5.4 million m/tons (approx)
Capacity Utilization : 55% (approx)
Gross Profit Margins : 33.7%
Projected Eps 2013 : 5.6 (approx)
Eps with 100% capacity utilization: 14.1 (approx)
Eps with 100% cap.utz and all debt cleared: 17.45 (approx)
its fair value comes around Rs. 65/- .
Note that MLCF is paying minimum tax due to accumulated losses shown in the balance sheet.
Recommendation: BUY. It is offering 110% upside w.r.t its fair value.

Input from other members is welcome!

it is not generating free cash flows. all the cash goes to debt holders. plus it will take 6-7 years for the debt to be cleared.

but its undervalued I think 40-45 is a more realistic target in the short term (3-12 months).

Maple Leaf Cement

Total Shares: 527 million
Total Debt : Rs. 12.3 billion (approx)
Equity : Liabilities = 33:66 approx
Cement Sold (2013) = 2.1 million m/tons (approx)
Annual Capacity : 4.2 million m/tons (Portland Cement)
      : 0.2 million m/tons (white cement)
      : 0.35 mm/tons (sulphate resistant cement)
      : 0.35 mm/tons (low alkali cement)
      : 0.35 mm/tons (oil well cement)
Total      : 5.4 million m/tons (approx)
Capacity Utilization : 55% (approx)
Gross Profit Margins : 33.7%
Projected Eps 2013 : 5.6 (approx)
Eps with 100% capacity utilization: 14.1 (approx)
Eps with 100% cap.utz and all debt cleared: 17.45 (approx)
its fair value comes around Rs. 65/- .
Note that MLCF is paying minimum tax due to accumulated losses shown in the balance sheet.
Recommendation: BUY. It is offering 110% upside w.r.t its fair value.

Input from other members is welcome!


45 in next 2 months

45 in next 2 months

 :tongue:
Sirf ?
Hold it tight for longer you will get more.  :biggthumpup:

Maple Leaf Cement

Total Shares: 527 million
Total Debt : Rs. 12.3 billion (approx)
Equity : Liabilities = 33:66 approx
Cement Sold (2013) = 2.1 million m/tons (approx)
Annual Capacity : 4.2 million m/tons (Portland Cement)
      : 0.2 million m/tons (white cement)
      : 0.35 mm/tons (sulphate resistant cement)
      : 0.35 mm/tons (low alkali cement)
      : 0.35 mm/tons (oil well cement)
Total      : 5.4 million m/tons (approx)
Capacity Utilization : 55% (approx)
Gross Profit Margins : 33.7%
Projected Eps 2013 : 5.6 (approx)
Eps with 100% capacity utilization: 14.1 (approx)
Eps with 100% cap.utz and all debt cleared: 17.45 (approx)
its fair value comes around Rs. 65/- .
Note that MLCF is paying minimum tax due to accumulated losses shown in the balance sheet.
Recommendation: BUY. It is offering 110% upside w.r.t its fair value.

Input from other members is welcome!

it is not generating free cash flows. all the cash goes to debt holders. plus it will take 6-7 years for the debt to be cleared.

but its undervalued I think 40-45 is a more realistic target in the short term (3-12 months).

45 in next 2 months

Maple Leaf Cement

Total Shares: 527 million
Total Debt : Rs. 12.3 billion (approx)
Equity : Liabilities = 33:66 approx
Cement Sold (2013) = 2.1 million m/tons (approx)
Annual Capacity : 4.2 million m/tons (Portland Cement)
      : 0.2 million m/tons (white cement)
      : 0.35 mm/tons (sulphate resistant cement)
      : 0.35 mm/tons (low alkali cement)
      : 0.35 mm/tons (oil well cement)
Total      : 5.4 million m/tons (approx)
Capacity Utilization : 55% (approx)
Gross Profit Margins : 33.7%
Projected Eps 2013 : 5.6 (approx)
Eps with 100% capacity utilization: 14.1 (approx)
Eps with 100% cap.utz and all debt cleared: 17.45 (approx)
its fair value comes around Rs. 65/- .
Note that MLCF is paying minimum tax due to accumulated losses shown in the balance sheet.
Recommendation: BUY. It is offering 110% upside w.r.t its fair value.

Input from other members is welcome!


45 in next 2 months

 :tongue:
Sirf ?
Hold it tight for longer you will get more.  :biggthumpup:

Poker Face
Valueestimator
Abdul Qadir
ouulman           

AGG FALL KYUN?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on July 29, 2013, 04:08:48 PM
came down with overall market.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ali101 on July 29, 2013, 04:10:42 PM
came down with overall market.
I HAVE INVESTED HEAVY IN THIS STOCK ..WHAT DO YOU SEE ITS OUTCOME
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on July 29, 2013, 04:13:52 PM
already given the detailed analysis on this thread. Target 65 june 14
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: drifter on July 29, 2013, 04:50:00 PM
aur neechay laoooo.....
29 tak gira doh toh Naray T -->> Entryy banti hai phr  :dance :dance :dance
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on July 29, 2013, 06:31:17 PM
Maple Leaf Cement

Total Shares: 527 million
Total Debt : Rs. 12.3 billion (approx)
Equity : Liabilities = 33:66 approx
Cement Sold (2013) = 2.1 million m/tons (approx)
Annual Capacity : 4.2 million m/tons (Portland Cement)
      : 0.2 million m/tons (white cement)
      : 0.35 mm/tons (sulphate resistant cement)
      : 0.35 mm/tons (low alkali cement)
      : 0.35 mm/tons (oil well cement)
Total      : 5.4 million m/tons (approx)
Capacity Utilization : 55% (approx)
Gross Profit Margins : 33.7%
Projected Eps 2013 : 5.6 (approx)
Eps with 100% capacity utilization: 14.1 (approx)
Eps with 100% cap.utz and all debt cleared: 17.45 (approx)
its fair value comes around Rs. 65/- .
Note that MLCF is paying minimum tax due to accumulated losses shown in the balance sheet.
Recommendation: BUY. It is offering 110% upside w.r.t its fair value.

Input from other members is welcome!

it is not generating free cash flows. all the cash goes to debt holders. plus it will take 6-7 years for the debt to be cleared.

but its undervalued I think 40-45 is a more realistic target in the short term (3-12 months).

bhai kiya hogiya.
at current cash generation capacity, its capable of paying back all debt within 3 years, even if they pay 1 rupee dividend with jun013 results and 2rupees with jun-14 results.

increase in capacity utilization can bring debt repayment earlier and increase dividends.

 ;)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: jaz on July 29, 2013, 07:10:40 PM
Maple Leaf Cement

Total Shares: 527 million
Total Debt : Rs. 12.3 billion (approx)
Equity : Liabilities = 33:66 approx
Cement Sold (2013) = 2.1 million m/tons (approx)
Annual Capacity : 4.2 million m/tons (Portland Cement)
      : 0.2 million m/tons (white cement)
      : 0.35 mm/tons (sulphate resistant cement)
      : 0.35 mm/tons (low alkali cement)
      : 0.35 mm/tons (oil well cement)
Total      : 5.4 million m/tons (approx)
Capacity Utilization : 55% (approx)
Gross Profit Margins : 33.7%
Projected Eps 2013 : 5.6 (approx)
Eps with 100% capacity utilization: 14.1 (approx)
Eps with 100% cap.utz and all debt cleared: 17.45 (approx)
its fair value comes around Rs. 65/- .
Note that MLCF is paying minimum tax due to accumulated losses shown in the balance sheet.
Recommendation: BUY. It is offering 110% upside w.r.t its fair value.

Input from other members is welcome!

it is not generating free cash flows. all the cash goes to debt holders. plus it will take 6-7 years for the debt to be cleared.

but its undervalued I think 40-45 is a more realistic target in the short term (3-12 months).
It is equally prudent to take into consideration the risks associated, significant ones are interest rate scenario, coal prices and PSDP spending.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ali101 on August 04, 2013, 02:35:45 AM
After new power policy and rates I would like to see  comments from the seniours giving target price of 45 in next 2 months...
Maple Leaf Cement

Total Shares: 527 million
Total Debt : Rs. 12.3 billion (approx)
Equity : Liabilities = 33:66 approx
Cement Sold (2013) = 2.1 million m/tons (approx)
Annual Capacity : 4.2 million m/tons (Portland Cement)
      : 0.2 million m/tons (white cement)
      : 0.35 mm/tons (sulphate resistant cement)
      : 0.35 mm/tons (low alkali cement)
      : 0.35 mm/tons (oil well cement)
Total      : 5.4 million m/tons (approx)
Capacity Utilization : 55% (approx)
Gross Profit Margins : 33.7%
Projected Eps 2013 : 5.6 (approx)
Eps with 100% capacity utilization: 14.1 (approx)
Eps with 100% cap.utz and all debt cleared: 17.45 (approx)
its fair value comes around Rs. 65/- .
Note that MLCF is paying minimum tax due to accumulated losses shown in the balance sheet.
Recommendation: BUY. It is offering 110% upside w.r.t its fair value.

Input from other members is welcome!

it is not generating free cash flows. all the cash goes to debt holders. plus it will take 6-7 years for the debt to be cleared.

but its undervalued I think 40-45 is a more realistic target in the short term (3-12 months).
It is equally prudent to take into consideration the risks associated, significant ones are interest rate scenario, coal prices and PSDP spending.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ali101 on August 04, 2013, 04:16:01 PM
Maple Leaf Cement

Total Shares: 527 million
Total Debt : Rs. 12.3 billion (approx)
Equity : Liabilities = 33:66 approx
Cement Sold (2013) = 2.1 million m/tons (approx)
Annual Capacity : 4.2 million m/tons (Portland Cement)
      : 0.2 million m/tons (white cement)
      : 0.35 mm/tons (sulphate resistant cement)
      : 0.35 mm/tons (low alkali cement)
      : 0.35 mm/tons (oil well cement)
Total      : 5.4 million m/tons (approx)
Capacity Utilization : 55% (approx)
Gross Profit Margins : 33.7%
Projected Eps 2013 : 5.6 (approx)
Eps with 100% capacity utilization: 14.1 (approx)
Eps with 100% cap.utz and all debt cleared: 17.45 (approx)
its fair value comes around Rs. 65/- .
Note that MLCF is paying minimum tax due to accumulated losses shown in the balance sheet.
Recommendation: BUY. It is offering 110% upside w.r.t its fair value.

Input from other members is welcome!





POOKER BHI PLZ ADVISE ON THIS ....I BOUGHT ON YOUR CALL
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on August 04, 2013, 04:25:39 PM
I also bought at 28.35 and now I am selling it tomorrow and wait for 2-3 weeks for market trends(tezi or mandi) , mps announcement and electricity/gas tariff announcement and then see if it is ok to enter, then I will re-enter even if I get it at 31-32 rupees which does not matter for a target of 60 plus.

As far as my fundamental analysis is concerned, it is not looking bad here with negative impact of Rs. 10-15/bag expected which can be offset by raising the prices. So, for the time being target is intact.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on August 04, 2013, 04:29:50 PM
There is some dichotomy in installed capacity. As per company website, capacity comes around 5.4 million tons if we add all segments, but as per apcma website, its capacity is 3.37 million tons. Can anybody clarify it?
Thanks
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ali101 on August 04, 2013, 04:32:28 PM
thank you for the great advise
 :thanks:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on August 04, 2013, 05:26:28 PM
There is some dichotomy in installed capacity. As per company website, capacity comes around 5.4 million tons if we add all segments, but as per apcma website, its capacity is 3.37 million tons. Can anybody clarify it?
Thanks

Once a friend of me working in cement industry told some companies including in APCMA have more installed capacity
but use less capacity due to some sort of agreements with other cement factories.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on August 05, 2013, 02:18:44 AM
There is some dichotomy in installed capacity. As per company website, capacity comes around 5.4 million tons if we add all segments, but as per apcma website, its capacity is 3.37 million tons. Can anybody clarify it?
Thanks

hmm are you reading from here? (http://www.kmlg.com/kmlg/cement_products_1.php)

The presentation of the capacity is incorrect.
They have 2 grey cement lines, 4000tpd and 6700tpd
and 2 white cement lines 50tpd each. (converted to oil well cement)

at 300 working days = 3.51 tonnes per year grey cement
                                 = 0.3 tonnes yer year of oil well cement

as far as I understand, there are two types of clinker, white and grey
 SRC and Low alkali along with regular opc is made from the grey clinker lines
oil well cement  is made from the white clinker line

The website has a mistake, they have added a 'zero' to white cement capacity. Its not 1000tpd its 100tpd

source 2010 annual report (https://docs.google.com/file/d/0B2lE8H4YKpKTTDFMX0t1VDlvX2c/edit?usp=sharing)

2012 annual report (https://docs.google.com/file/d/0B2lE8H4YKpKTSmVJSDd0bVpQamM/edit?usp=sharing)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: drifter on August 05, 2013, 02:37:17 PM
28 peh buy order laga dooon bhaiyooon??
yeh 28 kee support nea break kr rha 3 din sey ab?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on August 05, 2013, 02:42:12 PM
There is some dichotomy in installed capacity. As per company website, capacity comes around 5.4 million tons if we add all segments, but as per apcma website, its capacity is 3.37 million tons. Can anybody clarify it?
Thanks

hmm are you reading from here? (http://www.kmlg.com/kmlg/cement_products_1.php)

The presentation of the capacity is incorrect.
They have 2 grey cement lines, 4000tpd and 6700tpd
and 2 white cement lines 50tpd each. (converted to oil well cement)

at 300 working days = 3.51 tonnes per year grey cement
                                 = 0.3 tonnes yer year of oil well cement

as far as I understand, there are two types of clinker, white and grey
 SRC and Low alkali along with regular opc is made from the grey clinker lines
oil well cement  is made from the white clinker line

The website has a mistake, they have added a 'zero' to white cement capacity. Its not 1000tpd its 100tpd

source 2010 annual report (https://docs.google.com/file/d/0B2lE8H4YKpKTTDFMX0t1VDlvX2c/edit?usp=sharing)

2012 annual report (https://docs.google.com/file/d/0B2lE8H4YKpKTSmVJSDd0bVpQamM/edit?usp=sharing)
I used my projection of 55% capacity utilization which will be 61% now, still room for a lot of growth but cement dispatch figures tell other story.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: tahirdxb on August 08, 2013, 12:29:31 AM
Maple Leaf Cement offering the most compelling upside in the cement sector – BMA Research  
 
Added by Ayaz Ahmed  August 7, 2013.
Saved under CEMENT SECTOR, HEADLINES
Tags: BMA Capital Management Ltd.   

Maple Leaf Cement offering the most compelling upside in the cement sector – BMA Research


Operating at mere ~75% capacity and ideally placed in the North, Maple Leaf Cement (MLCF) would be among the prime beneficiaries of expected domestic cement demand boom in FY14-18.

Falling prices of key cost driver coal (down 20% CYTD), together with unhindered ability to increase local cement prices (up 14% CYTD in the North) translates into steadily rising gross margins for the company – The same will more than offset any negatives on power and gas tariff hike front.

Quick and steady deleveraging of debt heavy balance sheet implies magnification of top-line performance into bottom-line – and presents good news of resumption of dividend payout too!

Maple Leaf Cement is trading at the cheapest forward earnings multiple of 4.1x in the entire cement universe (except illiquid Fecto Cement), representing 25% discount to its peers and 46% discount to the market.

Our Jun14 Target Price for the company stands at PKR45/sh, offering whopping 55% capital gains as of last close.

We anticipate a cement demand boom in FY14?FY18…

The incoming government has indicated very clearly their intent to spend heavily on infrastructure, power generation and water projects. Notably, federal PSDP allocation is up by whopping 50% YoY to PKR540bn, whereas total (including provincial share) PSDP is up by 32% to PKR1.2trn. Some prominent projects in budget FY13 include 1) PKR115bn for new dams and water related projects, 2) PKR63bn to National Highway Authority (NHA) 3) PKR57bn for Nandipur Power project (capacity 440MW) and 4) PKR51bn for WAPDA power grid up gradation. PMLN’s election manifesto also mentions development of motorways, dams, housing projects and development of new urban centers and cities in their 5 year term. We thus expect domestic cement sales CAGR of 8% for 5 years, compared to FY08?FY13 CAGR mere of 2%
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on August 10, 2013, 01:14:46 PM
I have a feeling mlcf may initiate dividends from this year.. 1-1.5 rupees. parent company ktml not only has big repayment of long term liabilities scheduled for this year (which ktml can afford to pay from this years earnings) but also has 2.268 billion more in current liabilities than in current assets .. ktml also has capex commitments of 340 million ..

maple can afford to pay....

just a thought....
 :skeptic:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on August 10, 2013, 02:06:47 PM
I have a feeling mlcf may initiate dividends from this year.. 1-1.5 rupees. parent company ktml not only has big repayment of long term liabilities scheduled for this year (which ktml can afford to pay from this years earnings) but also has 2.268 billion more in current liabilities than in current assets .. ktml also has capex commitments of 340 million ..

maple can afford to pay....

just a thought....
 :skeptic:

how many shares ktml owns of mlcf
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: fazal on August 10, 2013, 02:58:45 PM
I have a feeling mlcf may initiate dividends from this year.. 1-1.5 rupees. parent company ktml not only has big repayment of long term liabilities scheduled for this year (which ktml can afford to pay from this years earnings) but also has 2.268 billion more in current liabilities than in current assets .. ktml also has capex commitments of 340 million ..

maple can afford to pay....

just a thought....
 :skeptic:

I agree... Movement of both ktml and mlcf supports this hypothesis
Title: Re: MLCF --- Maple Leaf Cement
Post by: SBM on August 10, 2013, 03:49:11 PM
Maple leaf will be the share of the year. Soon you all will realiseeeeeee. just wait and watch

Maple leaf will be the share of the year. Soon you all will realiseeeeeee. just wait and watch

u mean kai 9/5 jakai wapis 3 pai anay ki wajah sai ...ya yeh bhee 20 + ka honay wala hai

If maple is 20 1000 salutes sattoris .. :good

 :D
20 choro 40 ka yoga (hopefully )
And 10,000 salutes for good funda analysts
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on August 13, 2013, 08:37:35 AM
Cement manufacturers: concrete gains and outlook

BR RESEARCH (August 13, 2013) : The benchmark index at the country’s premier bourse is levitating near historic highs but rising inflation has played the role of a dampener in recent days, stoking some fears that interest rates may soon be on the rise. But the cement companies listed on local bourses appear immune to the uncertainty and are still presenting investors with concrete reasons to stay bullish. The sector has recorded a stellar run in the past two years; cement prices have peaked to never before seen levels and total dispatches are surging. The announcement of higher allocations for developmental spending by the government sounded like sweet music to the sector and those putting their money in it. As a result, share prices for the sector have outpaced the KSE 100-index which has itself shot up rapidly over the past 18 months. The graph shows the performance of the cement sector and the KSE 100-index, rebased to facilitate comparison. But while the cement sector’s worm appears head and shoulders above; even this is only half the tale. To say that the share prices of the five biggest players of the sector (in terms of sales volume) surged, would be a glaring understatement. Cumulative trade volume in the shares of these five companies topped eight billion in the outgoing fiscal. As corporate results are expected to commence later this week, most of these scrips continue to feature among the most traded stocks at KSE. But the flurry of activity is apparently not simply for cashing in on the past performance. “Coal prices have plunged to a five-year low and local cement prices are at all-time high,” pointed out Syed Abid Ali, a research analyst at Arif Habib Limited. He contended that the benefits of these market dynamics will continue to accrue in FY14. “Even 50-60 percent utilisation of the PSDP allocation would do wonders for local cement manufacturers,” Asad Siddiqui of Topline Securities asserted. Although electricity tariffs have been raised and the discount rate is expected to begin an upward journey soon, Siddiqui countered that the major players “have significantly
deleveraged while pricing power allows them to pass on additional costs of production.” Based on these arguments, market analysts seem in no hurry to change their bullish stance on the cement sector. A final word of caution however, is that cement stocks have generally moved in the direction of the broader market, so any mood dampeners on the macro-economic horizon can be expected to rain on their parade too.

Source:
http://www.brecorder.com/br-research/44:miscellaneous/3578:cement-manufacturers-concrete-gains-and-outlook/
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: drifter on August 13, 2013, 03:49:34 PM
30 keh neechay jitna bhar saktey hoo bhar loh ...
Yeh haath nehi ana iss rate peh agey
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on August 13, 2013, 05:17:21 PM
30 keh neechay jitna bhar saktey hoo bhar loh ...
Yeh haath nehi ana iss rate peh agey

 ;)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: HAMDANI_Punjtani on August 16, 2013, 03:03:22 PM
30 keh neechay jitna bhar saktey hoo bhar loh ...
Yeh haath nehi ana iss rate peh agey

 ;)

MLCF will be the star of cement sector . Chaa jaey ga Inshallah.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abdul Qadir on August 22, 2013, 01:23:29 AM
12.50 wala maple leaf 30 mai sell krdiya munaf nai.... :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: noman92 on August 22, 2013, 01:36:42 AM
12.50 wala maple leaf 30 mai sell krdiya munaf nai.... :D
HUM NY TO AB 5 WALA SALE NAHI KYA MLCF.....AUR 8 RS WALA KOHC STILL HOLD TILL JUNE 14 :good
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on August 22, 2013, 01:50:30 AM
12.50 wala maple leaf 30 mai sell krdiya munaf nai.... :D

Hehe
42.5 par mujhsay leyga wapas
 :@
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ali101 on August 22, 2013, 02:04:16 AM
Yar aq bhi ak baat batoo yah munaf ha kon? Kafi posts mah iska zikar hoa ha
12.50 wala maple leaf 30 mai sell krdiya munaf nai.... :D

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dr. Economist on August 22, 2013, 02:49:15 AM
Yar aq bhi ak baat batoo yah munaf ha kon? Kafi posts mah iska zikar hoa ha
12.50 wala maple leaf 30 mai sell krdiya munaf nai.... :D

 :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: investment.counter on August 27, 2013, 02:55:54 PM
28.75 wali resistance worked well  :biggthumpup:
(http://i1286.photobucket.com/albums/a619/InvestmentCounter/KSE/MLCFINTRADAY27AUG2_zpscaad6073.jpg) (http://s1286.photobucket.com/user/InvestmentCounter/media/KSE/MLCFINTRADAY27AUG2_zpscaad6073.jpg.html)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on August 27, 2013, 05:28:15 PM
12.50 wala maple leaf 30 mai sell krdiya munaf nai.... :D

Hehe
42.5 par mujhsay leyga wapas
 :@

still confident on that ?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on August 27, 2013, 05:32:45 PM
12.50 wala maple leaf 30 mai sell krdiya munaf nai.... :D

Hehe
42.5 par mujhsay leyga wapas
 :@

still confident on that ?

if market multiples come down, so will price targets for everything.
am still bullish on maple. let the full year result come. phir dekhtay hain.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on August 27, 2013, 05:34:11 PM
what support levels you see

I took exit from it in 24 range
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: NoorMaier on August 28, 2013, 10:38:18 AM
Check MLCF Analysis on this link
http://economist.pk/kse-analysis/mlcf-maple-leaf-cement-analysis-28-august-2013/
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: NoorMaier on August 30, 2013, 09:52:02 AM
Check Revised Analysis of MLCF
http://noormaier.net/kse-analysis/mlcf-maple-leaf-cement-analysis-30-august-2013-revised/
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: misterjaved on August 30, 2013, 09:18:38 PM
thanks Noor bro
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Nousherwan on September 02, 2013, 07:56:16 PM
needed badly :console:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on September 02, 2013, 08:13:41 PM
30 keh neechay jitna bhar saktey hoo bhar loh ...
Yeh haath nehi ana iss rate peh agey

What a difference a month makes, you sound hilarious right now no offense
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: drifter on September 02, 2013, 08:55:54 PM
Falling without any reason  :down: :down: :down:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Capricon83 on September 02, 2013, 10:53:45 PM
Falling without any reason  :down: :down: :down:

Only reason...... Munaf bought it at 12.5 and sold it at 30 plus to janta ab janta se koi kharid nahi raha  :console:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Cheetah on September 02, 2013, 11:09:52 PM
30 keh neechay jitna bhar saktey hoo bhar loh ...
Yeh haath nehi ana iss rate peh agey

What a difference a month makes, you sound hilarious right now no offense

He actually makes sense . 30 looks like a distinct  dream in recent market run and recent cement scandal. If you have failed to buy at 30 you missed the opportunity to buy at over rated level .

PS : no offense haha
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on September 02, 2013, 11:50:23 PM
laooo issay bhi kal

ouulman bro kay liye khair sagali kay jazbat  :clap1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: arifjamal on September 04, 2013, 10:02:36 AM
mlcf jab lucky or dg wali catogary main hay , to isay kion itni maar par rahi hay, baaqi cement ka to samajh main aata hay., par yeh teen to luck,dg, mlcf ek hi catogary main hain
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: zahid on September 04, 2013, 02:59:34 PM
what is darma huhu huhu huhu huhu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Nousherwan on September 04, 2013, 04:11:34 PM
I think i should sale so it can recover. big b's not happy with me finally entering in it.  :skeptic:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: investment.counter on September 04, 2013, 05:17:47 PM
Horrible  :confused1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: TechGuru on September 05, 2013, 01:44:05 AM
Buy Maple aka ganda bacha around 19.5 - 20.... then target 21.85 and 22.45.
stop loss 18.65.
or average your buying at the above mentioned rate..

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on September 05, 2013, 10:01:43 AM
Buy Maple aka ganda bacha around 19.5 - 20.... then target 21.85 and 22.45.
stop loss 18.65.
or average your buying at the above mentioned rate..

bought few this morning at 20.15  :thanks:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Tired of broker on September 05, 2013, 10:22:40 AM
Buy Maple aka ganda bacha around 19.5 - 20.... then target 21.85 and 22.45.
stop loss 18.65.
or average your buying at the above mentioned rate..

bought few this morning at 20.15  :thanks:


TOO MUCH BUYING IN MLCF..........PLZ NOTE.............. IMF ne kashkool bher dia hey ab is ko bhi bher lo
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Tired of broker on September 06, 2013, 10:03:18 AM
Buy Maple aka ganda bacha around 19.5 - 20.... then target 21.85 and 22.45.
stop loss 18.65.
or average your buying at the above mentioned rate..

bought few this morning at 20.15  :thanks:


TOO MUCH BUYING IN MLCF..........PLZ NOTE.............. IMF ne kashkool bher dia hey ab is ko bhi bher lo

I hope ap logoan ne bhi jholi bhar li ho gi  :clap1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: arifjamal on September 09, 2013, 12:43:34 PM
board meeting kub hay
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on September 09, 2013, 01:37:39 PM
not announced yet
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Knife on September 10, 2013, 12:38:48 PM
Seniors please advise why is it so low as compared to other cement stocks. Where do you think it can be after one year.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on September 10, 2013, 02:39:08 PM
Seniors please advise why is it so low as compared to other cement stocks. Where do you think it can be after one year.
kindly explain your question? so low as compared to other cement?
.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on September 11, 2013, 03:46:40 PM
Maple Leaf Cement Factory Limited looking strong – Taurus Research




Maple Leaf Cement Factory Limited looking strong – Taurus Research


We initiate coverage on Maple Leaf Cement Factory Limited (MLCF) with an Outperform rating and Jun’14 TP of PKR33.7/share, implying upside potential of 42% from current levels. Our conviction on the stock is premised on i) firm cement prices with no material risk to pricing arrangement of cement manufacturers, ii) limited impact of new capacity additions, iii) significant improvement in profitability and operating cash flows resulting in swift de-leveraging, iv) soft coal pricing environment, and v) compelling valuations. Also the availability of unused tax losses provide upside risk to our valuations. The stock has declined by 27% since peaking at PKR32.5/share in Jul’13 and provides good entry point for fresh position.

Our valuation assumptions include a CoE of 19.8% using risk free rate of 10.5%, beta of 1.56 and ERP of 6.0% leading to a WACC of 14.33% during initial year, which rises to as high as 20.02% in later years as deleveraging occurs. At current price, the stock is trading at FY14 PE of 5.3x and offers upside of 42%.

High utilization to remain & likewise pricing arrangement

Cement sector has taken a significant beating in the past couple of weeks. It was triggered by possible cessation of Lucky cement from the implicit pricing discipline of cement manufacturers. According to our sources, Lucky opposed the price hike proposed by cement manufacturers from recent increase in power tariff which put the whole pricing discipline in jeopardy due to which cement stocks came under heavy selling pressure and shed by 16% since 26th July’13.

We however, believe that there is no material risk of price war breaking out amongst the players. In the past, it has been seen that the cartel caved in due to exit of a major player, such as Lucky or DGKC, with sizeable scale. So cutting back prices, in expectation of gearing up sales made some sense. But presently, with large players, such as DGKC and Attock already operating capacities well above 90% we believe price reduction will not benefit anyone. As for Lucky, it is operating below its designed capacity, but we contend that i) its designed capacity is over-rated to some extent, being Chinese plant, it can not run at 100% capacity, ii) one of its mills is presently closed which has further reduced its effective capacity. So, in our opinion, taking into account the constraints faced by Lucky, it is also operating at high utilization levels. And it leads us to believe that there is limited risk to any immediate price wars, if any. A decline in industry sales may trigger it but its probability also remains low.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Knife on September 12, 2013, 01:17:44 PM
Seniors please advise why is it so low as compared to other cement stocks. Where do you think it can be after one year.
kindly explain your question? so low as compared to other cement?
.

Poker Bhai i mean to say that unlike DG, Lucky and Fauji. It is still trading at very low Price earning multiples. Why is it not going up?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on September 17, 2013, 11:53:55 AM
BM on 24th september (http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=046360&qsid=162)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on September 23, 2013, 02:00:48 PM

Result Preview
 
MLCF – FY13 EPS expected at PKR5.8
Result expectation
Maple Leaf Cement Factory limited (MLCF) is scheduled to announce its FY13 financial results tomorrow. The company is expected to post PAT of PKR3.06bn (EPS: PKR5.81), up 5.1x YoY. 4QFY13 EPS is expected to clock in at PKR1.64, up 21% YoY and 2% QoQ.
Higher retention prices to drive earnings
Rising prices during FY13 shall allow MLCF to post strong earnings growth, further boosted by lower coal prices during the period. We expect average retention price to have increased by 13% to PKR330/bag during FY13 as opposed to PKR292/bag during FY12. Cost of sales is expected to marginally increase by 1% to PKR219/bag during FY13 as opposed to PKR216/bag during FY12.
Dispatches to limit growth
Owing to weak demand during the period, we expect total dispatches to have clocked in at 0.68mn tons during 4QFY13, down 3% YoY but up 7% QoQ. This shall take total dispatches to 2.63mn tons in FY13, marginally down by 1% YoY.
Investment perspective
MLCF is currently trading at FY14 PER of 5.8x. However, we are currently revisiting our investment case on the cement sector owing to risks that have emerged recently (Refer to our flash note titled “Cements: Dark Clouds” dated: August 29, 2013). We advise caution at current levels and will update our recommendation once more information is available regarding the matter.

elixir
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Cheetah on September 23, 2013, 02:12:45 PM
Bought 35k at 25.75  :rtfm: :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Hobbyist on September 23, 2013, 02:37:41 PM
MLCF: Closing FY13 with a bang; more positives lined up
http://investorguide360.com/wp-content/uploads/2013/09/BMA-Research11.pdf
We expect MLCF to post PAT of PKR3.1bn (EPS: PKR5.94) for FY13, showing a whopping growth of 5.3x compared to the earnings posted in FY12. For 4QFY13, we anticipate the company to post earnings of PKR937mn (EPS: PKR1.78), up by remarkable 31% YoY and 11% QoQ.

Local cement prices – up by robust 7% YoY in the North compared to FY12 average – would remain the prime growth driver for MLCF, expected to take revenues for the company northward by 13% YoY to 17.4bn in FY13.

The turnaround in interest coverage ratio (-0.27 in FY11, +1.19 in FY12 and +2.77 in FY13E) would be one of the  prime drivers behind 5x higher bottomline compared to FY12.

After adjusting for 1) 50 bps increase in DR and further hike expected in FY14 and 2) higher power & fuel costs than earlier assumed, we have revised our Jun14 Target Price for the company to PKR36. We maintain BUY rating, projecting 39% upside from current levels.

Maple Leaf Cement Factory (MLCF) will announce its FY13 results on Tuesday, September 24, 2013. We expect the company to post PAT of PKR3.1bn (EPS: PKR5.94) for the full year, showing a whopping growth of 5.3x compared to the earnings posted in FY12. For 4QFY13, we anticipate the company to post earnings of PKR937mn (EPS: PKR1.78), up by remarkable 31% YoY and 11% QoQ.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on September 24, 2013, 08:15:47 AM
where were these houses when there was free fall in maple price  :@

no one wanted to say its a "buy" then  uuu

now everyone saying buy buy

  :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: blindfollower on September 24, 2013, 10:45:31 PM
Koi Khabar???
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on September 24, 2013, 11:32:07 PM
Koi Khabar???

Expected EPS of about 6 rupees and 5-10% cash div.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aliraza on September 25, 2013, 09:27:42 AM
Koi Khabar???

Expected EPS of about 6 rupees and 5-10% cash div.

http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=046640&qsid=437
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on September 25, 2013, 09:34:41 AM
http://www.kse.com.pk/notices-updates/detail2.php?id=4&nid=046640&pagesize=1&pageno=1

eps 6.11
dps 0


q4 eps 1.95

eps a slightly above expectations. zero dps a bit of disappointed
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Knife on September 25, 2013, 01:44:19 PM
Seniors. Should i keep it for the next 6 months. Where do you see it. I think they will give something in the first quarter. Before that they will keep it under pressure. Please advise.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on September 25, 2013, 01:54:49 PM
ouulman dividend kay baray main kya bola tha

lasson laga diya mlcf nay
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on September 25, 2013, 02:03:30 PM
ouulman dividend kay baray main kya bola tha

lasson laga diya mlcf nay

  :down:

eps is good ...

it will recover eventually
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Allah Tawakal on September 25, 2013, 07:49:21 PM
quite a battering faced by cement sector...   :dunno:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on September 25, 2013, 08:51:02 PM
gang bang gang bang

5.86 ki jaga 6.11 BC poochta hoon kya entry daali hai akhir main
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on September 25, 2013, 10:17:54 PM
gang bang gang bang

5.86 ki jaga 6.11 BC poochta hoon kya entry daali hai akhir main

Every components remained positive for Mlcf. Sales increased, Cost of Sales, Operating Expenses and Financial Cost decreased. Other Income increased and Tax reversal increased.

http://www.kse.com.pk/notices-updates/detail2.php?0.624062564689666&id=4&nid=046640
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: traderr on September 25, 2013, 10:40:05 PM
phir bhi bajh rahee hai iskiii  :bangin:  huhu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: traderr on September 25, 2013, 10:40:35 PM
gang bang gang bang

5.86 ki jaga 6.11 BC poochta hoon kya entry daali hai akhir main

Every components remained positive for Mlcf. Sales increased, Cost of Sales, Operating Expenses and Financial Cost decreased. Other Income increased and Tax reversal increased.

http://www.kse.com.pk/notices-updates/detail2.php?0.624062564689666&id=4&nid=046640

phir bhi bajh rahee hai iskiii  :bangin:  huhu

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on September 25, 2013, 10:44:18 PM
gang bang gang bang

5.86 ki jaga 6.11 BC poochta hoon kya entry daali hai akhir main

Every components remained positive for Mlcf. Sales increased, Cost of Sales, Operating Expenses and Financial Cost decreased. Other Income increased and Tax reversal increased.

http://www.kse.com.pk/notices-updates/detail2.php?0.624062564689666&id=4&nid=046640

phir bhi bajh rahee hai iskiii  :bangin:  huhu

Bhai jan no Payout.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on September 25, 2013, 10:47:28 PM
baaaad achaa badnaam bura :ohmy:
though almost every scrip appear vulnerable
even 70% cash Div from ferozsons /textile sector exceptional earnings failed to Generate interest
koi big positive news must to arrest further meltdown
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on September 25, 2013, 10:50:24 PM
yeah that's what I hv been saying corporates are focused on a policy of retention

not even good payout companies have given decent payouts

retention of profits is for 2 two reason normally, to provide impetus for expansions or to provide a buffer for expected shocks

mlcf was not gonna pay dividends it has some long term financing arrangements that wont allow them to pay dividends
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on September 25, 2013, 10:52:35 PM

Every components remained positive for Mlcf. Sales increased, Cost of Sales, Operating Expenses and Financial Cost decreased. Other Income increased and Tax reversal increased.

http://www.kse.com.pk/notices-updates/detail2.php?0.624062564689666&id=4&nid=046640

dehan bro we agreed at a sell price for MLCF at 28 when twas 21 couple months back

that was a good exit

did you take it
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on September 26, 2013, 07:37:42 PM

Result Review
 
MLCF – Earnings exceed expectations
Result announcement
Maple Leaf Cement Factory limited (MLCF) announced its FY13 financial results today. The company posted PAT of PKR3.2bn (EPS: PKR6.11), up 5.5x YoY. 4QFY13 EPS clocked in at PKR1.95, up 43% YoY and 21% QoQ..
Lower costs drove strong profit
Lower costs of production primarily boosted margins for MLCF amid rising retention prices. MLCF posted a gross profit of PKR6bn, increasing 51% YoY. COGS clocked in at PKR11bn, declining 1% YoY on the back of lower coal prices. Net sales increased 12% YoY to PKR17.3bn.
Higher effective tax rate confined earnings
MLCF’s effective tax rate clocked in at 2% for FY13 as opposed to tax reversal in the preceding year. In addition, effective tax rate for 4QFY13 clocked in at 13% in contrast to tax reversals during 9MFY13.
Investment perspective
MLCF is currently trading at FY14 PER of 6.4x. However, we are currently revisiting our investment case on the cement sector owing to risks that have emerged recently (Refer to our flash note titled “Cements: Dark Clouds” dated: August 29, 2013). We advise caution at current levels and will update our recommendation once more information is available regarding the matter.

elixir
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on October 04, 2013, 01:38:26 PM
Maple Leaf Cement Factory Limited expect decent numbers in FY14

MLCF in its FY13 results, posted net earnings of PKR3.2bn (EPS: PKR6.11), surging by 6.3 times (after preference dividend) compared to PKR0.496bn (EPS: PKR0.84) reported in FY12. Such an impressive growth in bottom line is majorly attributable to; lucrative local net retention levels despite subdued volumes on both local and export front, while lower international coal prices resulted in expansion of gross profits. Furthermore, a 27% YoY dip in financial due to aggressive de-leveraging & decline in interest rates, along with tax reversal booked by the company in 4QFY13 enhanced the profitability. The company did not declare any cash payout due to high leverage, in line with our expectation.

We have tweaked our earnings estimates after incorporating the recent increase in cement prices by PKR15/bag from 2QFY14 onwards. We have also revisited our macro assumptions after recent discount rate announcement by SBP in the monetary policy and our revised June’14 TP for the scrip works out to PKR35.3/share, implying an whopping upside potential of 60% from current price levels. The scrip is trading at a FY14 P/E of 3.6x and is the cheapest amongst our cement universe, thus we reiterate our “BUY” call.

Improved retention levels bolstered the top line…

Top line grew at a decent pace in FY13 (+12% YoY), primarily fuelled by rise in local prices while better export retention levels due to Pak Rupee devaluation also played its part. During the year, local sales volumes remained subdued while exports contracted largely owing to increased competition in Afghanistan. Growth in net revenues along with dip in coal prices (1% YoY dip in COGS), further translated into improved margins; culminating into 51% and 72% YoY higher gross and operating profits, respectively.

Taurus Research
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: traderr on October 08, 2013, 07:38:11 PM
AGM OF Maple Leaf On 31st Oct at 11 am.
http://www.kse.com.pk/notices-updates/detail2.php?0.8721241836063416&id=4&nid=047308 (http://www.kse.com.pk/notices-updates/detail2.php?0.8721241836063416&id=4&nid=047308)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on October 12, 2013, 02:37:55 AM
annual 2013 (http://www.kmlg.com/kmlg/uploadfiles/mlcf_annual_report_2013.pdf)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on October 12, 2013, 07:47:21 AM
Ktml owns maple n ktml is owned by foreign companies. Who owns those foreign companies
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on October 12, 2013, 02:23:56 PM
Ktml owns maple n ktml is owned by foreign companies. Who owns those foreign companies

saigols
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on October 12, 2013, 09:00:47 PM
the cheapest way to buy mlcf is to buy ktml.

assume u are getting ktml textile business at 5 rupees, u will are paying only 10 rupees for the maple cement as there are 1.388 share of mlcf against every share of ktml.



Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on October 12, 2013, 10:50:37 PM
in theory yes

but apply 40 % discount to the ktml pf then you will get a different picture

the cheapest way to buy mlcf is to buy ktml.

assume u are getting ktml textile business at 5 rupees, u will are paying only 10 rupees for the maple cement as there are 1.388 share of mlcf against every share of ktml.





Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on October 12, 2013, 11:15:28 PM
the cheapest way to buy mlcf is to buy ktml.

assume u are getting ktml textile business at 5 rupees, u will are paying only 10 rupees for the maple cement as there are 1.388 share of mlcf against every share of ktml.

good discount will exist for ktml till maple cash flows start going towards equity.
right now everything is going towards debt holders
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on October 13, 2013, 03:47:11 PM
i heard there was some restriction on mlcf to pay dividends due to its debt arrangements

so dividends not likely in recent future
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: chotashakeel on October 13, 2013, 06:07:21 PM
saeein dispatches ka kia view hai september quarter ka!!!?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on October 13, 2013, 07:23:07 PM
dispatches improved in last month of the quarter

results will be average at best
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: chotashakeel on October 13, 2013, 08:42:37 PM
Thank you sir!
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: chotashakeel on October 15, 2013, 12:55:30 AM
There is around Rs. 2 billion cash on maple leafs balance sheet. Around Rs. 10 per share. I think more dividends are around the corner.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on October 15, 2013, 01:09:54 AM
There is around Rs. 2 billion cash on maple leafs balance sheet. Around Rs. 10 per share. I think more dividends are around the corner.

 :o
bhai this is maple leaf cement factory .. you must be mistaken


From annual report

Cash and bank balances    523,540

Short term borrowings     3,277,666


where 10 billion ?
and number of issues shares is 527 million so even if it were 2 billion it would be still less than 4/share

and 007 must be right they probably have some loan covenant restricting payout till some conditions regd leverage ratios etc are met
again from annual report
"APPROPRIATION
After massive losses for last few years, Company has crossed the loss threshold and has earned healthy
profit of Rs. 3,225 million. The Directors have pas sed over dividend payment due to financial limitati ons."
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: chotashakeel on October 15, 2013, 01:16:54 AM
oh sorry I was talking about pionner cement :o Pioneer cement main post kerna pareyga yeah :P
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on October 21, 2013, 08:29:42 PM
There is around Rs. 2 billion cash on maple leafs balance sheet. Around Rs. 10 per share. I think more dividends are around the corner.

 :o
bhai this is maple leaf cement factory .. you must be mistaken


From annual report

Cash and bank balances    523,540

Short term borrowings     3,277,666


where 10 billion ?
and number of issues shares is 527 million so even if it were 2 billion it would be still less than 4/share

and 007 must be right they probably have some loan covenant restricting payout till some conditions regd leverage ratios etc are met
again from annual report
"APPROPRIATION
After massive losses for last few years, Company has crossed the loss threshold and has earned healthy
profit of Rs. 3,225 million. The Directors have pas sed over dividend payment due to financial limitati ons."

great analysis ouulmaan really good stuff  :biggthumpup: +1 for you
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: clearcrystle1 on October 21, 2013, 09:00:42 PM
There is around Rs. 2 billion cash on maple leafs balance sheet. Around Rs. 10 per share. I think more dividends are around the corner.

 :o
bhai this is maple leaf cement factory .. you must be mistaken


From annual report

Cash and bank balances    523,540

Short term borrowings     3,277,666


where 10 billion ?
and number of issues shares is 527 million so even if it were 2 billion it would be still less than 4/share

and 007 must be right they probably have some loan covenant restricting payout till some conditions regd leverage ratios etc are met
again from annual report
"APPROPRIATION
After massive losses for last few years, Company has crossed the loss threshold and has earned healthy
profit of Rs. 3,225 million. The Directors have pas sed over dividend payment due to financial limitati ons."
Excellent work Mr.ouulman.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Avi2013 on October 23, 2013, 02:55:34 AM
Shahbash Maple Kal be Upper Lock hoker dekhaaa  :tongue: :tongue: :tongue: :thumbsup_anim: :thumbsup_anim: :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on October 25, 2013, 06:05:58 PM

Result Preview
 
MLCF – FY13 EPS expected at PKR1.29
Result expectation

Maple Leaf Cement Factory Limited (MLCF) is scheduled to announce its 1QFY14 financial results on 28 October 2013 . The company is expected to post EPS of PKR1.29, up 77% YoY but down 34% QoQ.
Increased costs to restrict margins
MLCF is expected to post an EBITDA margin of PKR122/bag during 1QFY14, down 5% QoQ. Owing to increased power and transportation costs, COGS is expected to increase by 10% QoQ to PKR233/bag during the period. However, net retention prices shall provide respite and clock in at PKR358/bag, up 5% QoQ.
Deleveraging to support bottom-line
MLCF is expected to post finance cost of PKR368mn, down 28% YoY and 2% QoQ. MLCF repaid PKR2.1bn of its outstanding debt during FY13 resulting in lower finance cost.
Investment perspective
Our Jun-14 price target of PKR21/sh offers a downside of 7%. We maintain our SELL stance on the stock.

elixir
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on October 28, 2013, 03:52:10 PM
Financial Results (http://www.kse.com.pk/notices-updates/detail2.php?0.16722843958996236&id=4&nid=048281)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on October 28, 2013, 08:50:23 PM

Result Preview
 
MLCF – FY13 EPS expected at PKR1.29
Result expectation

Maple Leaf Cement Factory Limited (MLCF) is scheduled to announce its 1QFY14 financial results on 28 October 2013 . The company is expected to post EPS of PKR1.29, up 77% YoY but down 34% QoQ.
Increased costs to restrict margins
MLCF is expected to post an EBITDA margin of PKR122/bag during 1QFY14, down 5% QoQ. Owing to increased power and transportation costs, COGS is expected to increase by 10% QoQ to PKR233/bag during the period. However, net retention prices shall provide respite and clock in at PKR358/bag, up 5% QoQ.
Deleveraging to support bottom-line
MLCF is expected to post finance cost of PKR368mn, down 28% YoY and 2% QoQ. MLCF repaid PKR2.1bn of its outstanding debt during FY13 resulting in lower finance cost.
Investment perspective
Our Jun-14 price target of PKR21/sh offers a downside of 7%. We maintain our SELL stance on the stock.

elixir

lower than expected 1.05
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on October 29, 2013, 02:07:22 AM
Maple Leaf’s earnings grow 45% in July-Sept (http://tribune.com.pk/story/623838/corporate-results-maple-leafs-earnings-grow-45-in-july-sept/)

Maple Leaf Cement announced a respectable growth of 45% with an after-tax profit of Rs556 million or earnings per share of Rs1.05 in the first three months (July-September) of financial year 2013-14.
The company earned just Rs384 million and recorded EPS of Rs0.70 in the corresponding quarter of previous year.
In 2012-13, Maple Leaf had left behind all cement companies operating in the country by posting a record growth of 550% in year-on-year earnings to Rs3.23 billion against Rs496 million a year ago.
The company that followed Maple Leaf was Pioneer Cement, but it only notched up 155% growth in 2012-13, much behind Maple.
Interestingly, analysts say Maple Leaf is one of the least energy-efficient mid-tier cement companies in the country. Such companies mostly benefited from low international coal prices, which brought down their cost of production gradually in the last three years.
Maple Leaf’s factory is located in the resource-rich area of Daudkhel in northern Pakistan. It is the third largest cement factory in the country and one of the companies of Kohinoor Maple Leaf Group, formed as a result of division of the Saigon Group of Companies.
The company has 9% market share in ordinary Portland cement. It is also the largest producer of white cement with a capacity of 500 tons per day. In this area, it has 80% of the domestic market share.
The company was formed as a result of collaboration between West Pakistan Industrial Development Corporation and the Canadian government in 1956. However, in 1992, its ownership was taken over by the Kohinoor Group.
Published in The Express Tribune, October 29th, 2013.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on October 31, 2013, 11:14:07 AM

Result Review
 
MLCF – Exchange loss dented earnings
Result announcement

Maple Leaf Cement Factory limited (MLCF) announced its 1QFY14 financial results on 28th October 2013 . The company posted EPS of PKR1.05, up 44% YoY and down 46% QoQ. Earnings were 14% lower than our expectations.
Higher finance costs subdued bottom-line
Owing to exchange losses of PKR124mn during 1QFY14 on foreign currency denominated debt, MLCF posted finance costs of PKR475mn, significantly up 27% QoQ. Though MLCF repaid PKR0.9bn of its outstanding debt during FY13, exchange losses inflated finance costs which came out higher than our estimates.
Gross profit surged on the back of higher sales
MLCF posted gross profit of PKR1.4bn during 1QFY14, up 20% YoY. Net sales increased to PKR4.2bn during the period, up 10% YoY while COGS clocked in at PKR2.8bn, up 6% YoY.
Investment perspective
Our Jun-14 price target of PKR21/sh offers a downside of 2% at current levels. We maintain our SELL stance on the stock.

elixir
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: darthvader on November 18, 2013, 12:57:15 PM
why at upper lock?? any news ??
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Capricon83 on November 18, 2013, 01:26:41 PM
why at upper lock?? any news ??

-  Continious decreasing coal prices (From 91$ a couple of week ago to 83$ as of today)
-  apna ghar scheme launched and a number of power project initiated by govt. including Nandipur
-  Rs. 2 billion realeased by govt. for hydro power projects
-  Minimum expected increase in DR by SBP

bs mujhe to yeh hi pata hain  :console:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on November 28, 2013, 02:12:17 PM

The Bell
 
MLCF: Upgrade to hold on buoyant outlook
Revisiting valuation; upgrade to HOLD

After recent discussions with company management, we have tweaked our estimates for MLCF and arrive at a Jun-14 price target of PKR26/share. At last closing, the stock offers potential upside of 5%. We thus upgrade our stance on MLCF from SELL to HOLD.
White cement boosts retention and margins

MLCF is the largest producer of white cement in Pakistan with installed capacity of 0.15-0.30mn tons and a market share of 90%. Since white cement is a premium product, its price and margins are higher than that of grey cement. White cement contributes an incremental PKR13/bag and PKR8/bag to MLCF’s average retention and EBITDA margin respectively.
Use of Pet coke gives MLCF a competitive advantage
MLCF derives ~50% of its fuel requirement from petroleum coke. Pet coke’s high heating value combined with discounted price to thermal coal makes it an economical alternate fuel. Usage of pet coke is expected to contribute savings of PKR7/bag in FY14, yielding an EPS impact of PKR0.72/share.
High debt servicing to limit free cash flows
Though MLCF ranks among one of the more efficient players in the industry, high debt servicing is expected to confine cash flows to shareholders. During FY14-17, MLCF is expected to generate discounted free cash flows to firm (FCFF) of PKR18bn. Out of these, expected debt servicing would amount to PKR14bn. Thus, debt servicing accounts for 80% of the FCFF generated while shareholders are left with discounted free cash flows of PKR4bn during the period.
Higher vulnerability justifies cheap multiples
Our Jun-14 price target of PKR26/share implies an exit multiple of 3.4x. However, we believe that MLCF’s cheap exit multiple is justified by its high break-even price. Based on FY13 volumes and utilization levels, MLCF posted a break-even price of PKR262/bag, 10% higher than industry average of PKR238/bag and the highest in our universe.
Savings from coal-fired power plant may alter investment case
MLCF is planning to install a 15MW coal-fired power plant to hedge against increasing power costs. Based on a conservative efficiency level of 25%, MLCF’s coal-fired power plant is expected to have incremental value (NPV) of PKR1.8bn (PKR3.4/share). However, we await clarity regarding the issue and have not incorporated this in our estimates.

ELIXIR
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: GlobalInvestor on December 16, 2013, 01:29:05 PM
MLCF heading for 35-37 our Dears  :good :fingerscrossed1: :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on December 16, 2013, 01:40:46 PM
MLCF heading for 35-37 our Dears  :good :fingerscrossed1: :biggthumpup:

 :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on December 16, 2013, 07:56:40 PM
MLCF heading for 35-37 our Dears  :good :fingerscrossed1: :biggthumpup:
Any time frame  :skeptic:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ayubkhuhro on December 29, 2013, 06:26:05 PM
ready for 31 rupees rally. A big announcement from mlcf is going to take place in the next few days so now big brokers trying to buy all the stock.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Allah Tawakal on December 29, 2013, 10:44:39 PM
what big announcement?? plz share kro bhai
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on January 01, 2014, 10:58:42 AM
just yesterday I almost bought this share but somehow stopped to have further studies / research. And today it is capped.  uuu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ayubkhuhro on January 01, 2014, 08:34:55 PM
ready for 31 rupees rally. A big announcement from mlcf is going to take place in the next few days so now big brokers trying to buy all the stock.
3 days since call and 2 locks already.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on January 08, 2014, 12:29:17 AM
Initiate coverage with a ‘Buy’

???? We initiate coverage of Maple Leaf Cement Factory Limited (MLCF) with a
Buy recommendation and a DCF-based Target Price of Rs39.
???? Our ‘Buy’ recommendation on MLCF is premised on 1) compelling
valuations (currently trading at FY14E P/E of 4.5x vs. KSE P/E multiple of
9.0x), 2) strong earnings outlook driven by the unyielding trend in cement
prices (current 3-yr PBT CAGR at 12%) and 3) dwindling debt balance on
the company’s balance sheet.
???? We remain confident that that pricing power of the cement industry will
remain intact; driving a re-rating of MLCF’s multiples from current
discounted levels. Resultantly, we expect stock-price returns will
outperform those for the broader KSE.
???? Key risks to our rating are 1) breakdown in pricing arrangement, 2)
reversal in international coal prices and 3) higher than expected interest
rate hikes.
???? For further details, please refer to our detailed report with the same title
released earlier.

Eye catching valuations- too good to ignore
At current market price, MLCF trades at FY14E P/E of 4.5x vis-à-vis the market’s
P/E of 9.0x (50% discount) and the sector average of 8.1x (44% discount). We
believe the substantial discount is unjustified given 1) the assured outlook on
sustainability of sector pricing power and 2) MLCF’s declining debt balance.
Despite strong earnings, our implied exit P/E multiple for MLCF (6.1x at our target
price) remains at a discount to the current market PE of 9.0x. We believe the same
adequately takes into account MLCF’s positioning as a relatively higher-risk
investment given 1) high leverage ratio of the company and 2) strong dependency
of earnings on one variable (i.e. high cement prices).
Consensus on cement prices intact-MLCF began FY14 well
Despite the negative press recently, cement manufacturers have not shied away
from raising cement prices this fiscal year where hitherto domestic cement prices
have surged by 6% in FY14. This has dovetailed with an unimpressive 2% uptick in
local dispatches in 1HFY14, further indicating the strength of the sector pricing
power. The same was the key reason for the uptick in earnings of MLCF in
1QFY14 where the company clocked in an EPS growth of 45%YoY to Rs1.05.
Financial risk diminishing amidst strong cash flows
Although MLCF remains relatively highly leveraged (June 2013 interest bearing
Debt/Asset ratio at 47%), the company’s financial situation has improved on the
back of strong operating cash flows. Note that the company retired Rs1.8bn of debt
in FY13 and with operating cash flows expected to remain strong (via sturdy
margins), the company is likely to reduce its debt by a further Rs3.3bn in FY14E.
We expect the company’s interest bearing Debt/Asset ratio to decrease to 37% by Jun 2014.

js
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on January 21, 2014, 08:25:49 PM
Encouraging local volumes in 2q to keep earnings elevated

 We preview 2QFY14 result of MLCF and expect the company to report net earnings of PKR0.73bn (EPS PKR1.38), recording a growth of 31% QoQ. Cumulatively, companys 1HFY14 earnings are expected to clock in at PKR1.3bn against PKR1.4bn in SPLY (down 10% YoY). We believe QoQ increase in bottom line is likely to stem from improvement in volumetric sales on the local grounds (as per provisional numbers) while decline in financial charges due to de-leveraging and absence of forex loss will further augment the bottom line. However, 1HFY14 net earnings are anticipated to decline YoY on the back of lower other income and expected recognition of tax as against realization of tax reversal in 1HFY13.

We re-iterate our Buy stance on Maple Leaf Cement (MLCF) with our Jun14 TP of PKR34.2/share, offering an upside potential of 18% from last closing. Along with the decent upside potential, the scrip is currently trading at an attractive FY14 P/E multiple of 4.8x.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on February 01, 2014, 12:20:32 PM
Looking very strong , SBM TP pl
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on February 01, 2014, 12:27:00 PM
Looking very strong , SBM TP pl
   1.8bn returned last year and 3.3bn debt reduction planned for this year :rtfm:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on February 01, 2014, 01:24:08 PM
Looking very strong , SBM TP pl
   1.8bn returned last year and 3.3bn debt reduction planned for this year :rtfm:

40+
-
js is wrong regd their earnings driver. there is another one, de- leveraging
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on February 01, 2014, 01:37:45 PM
Looking very strong , SBM TP pl
   1.8bn returned last year and 3.3bn debt reduction planned for this year :rtfm:

40+
-
js is wrong regd their earnings driver. there is another one, de- leveraging
  koi tu haay joo boohat baari quantity accumulate kaar raha haay, good news for junta and laoo maal group members
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Capricon83 on February 01, 2014, 06:38:50 PM
Only issue with MLCF is that k its belong to Saigol group........... having a bad payout history restricts its P/E multiple. Otherwise undervalued stock, i think :$:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on February 08, 2014, 03:23:13 PM
Only issue with MLCF is that k its belong to Saigol group........... having a bad payout history restricts its P/E multiple. Otherwise undervalued stock, i think :$:
  pl share your fv pl
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on February 08, 2014, 03:53:26 PM
Only issue with MLCF is that k its belong to Saigol group........... having a bad payout history restricts its P/E multiple. Otherwise undervalued stock, i think :$:

bad payout is due to high leverage ..
i was expecting payout with june 2013 results because i believed they had the capacity ..
khair june 2014 they will give some cash ..
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Allah Tawakal on February 15, 2014, 09:00:42 PM
people say it might perform quite earlier;; earlier than June even..  :good
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on February 15, 2014, 09:18:52 PM
most people are douchebags  :biggthumpup:

people say it might perform quite earlier;; earlier than June even..  :good

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Allah Tawakal on February 15, 2014, 09:54:12 PM
thats quite impolite bond bhai  :down:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on February 16, 2014, 07:13:40 PM
thats quite impolite bond bhai  :down:

it is indeed impolite. but i agree with him nonetheless  :laugh:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on February 16, 2014, 08:24:08 PM
My broker say you will get mlcf between range Rs. 22/- to Rs.24/- soon. So what did i do now as i have huge quantity on 28.44/-  :confused1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on February 16, 2014, 08:55:09 PM
My broker say you will get mlcf between range Rs. 22/- to Rs.24/- soon. So what did i do now as i have huge quantity on 28.44/-  :confused1:

Mojay b lay do is rate pa bhai.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sherazzulfiqar on February 16, 2014, 09:29:07 PM
My broker say you will get mlcf between range Rs. 22/- to Rs.24/- soon. So what did i do now as i have huge quantity on 28.44/-  :confused1:

Mojay b lay do is rate pa bhai.

Dehan Bhai, ley theta hoon per mera kafi nukshan ho gaye ga i have huge MLCF share quantity
 :crying_anim02:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on February 18, 2014, 08:07:46 PM
Maple Leaf Cement: Unmatched valuation
(February 18, 2013)

Improved sector dynamics led by better cement retention prices and supported by rising local demand, MLCF is one of the attractive scrips in Pakistan’s cement sector. MLCF trades at discount to the market PE as well as average cement sector PE. The stock trades at FY14E PE of 4.3x and FY15F PE of 3.9x, 44% discount to sector and 47% discount to the market.


MLCF has the potential to considerably reduce its debt obligations and post better earnings growth. We expect MLCF’s revenue to rise at 3-year (FY14-16) CAGR of 9% versus last 4-year (FY10-13) CAGR of 3%. Moreover, due to improving sales, stable coal price and declining financial charges we expect MLCF’s bottom-line to post 3-year (FY14-16) CAGR of 10%.

 

Due to improved efficiency and higher financial leverage, MLCF is benefiting from the turnaround in cement sector that stems from better margin scenario and fall in interest rates. Signs of economic recovery will further improve cement demand that will help in sustaining this profit improvement.

The company generated EBITDA of Rs1.5bn in 1QFY14 against Rs1.3bn in 1QFY13, up 13%. This will help the company in early repayment of its interest bearing debt which will reduce financial charges and ultimately post better bottom-line growth. We anticipate MLCF to post EBITDA of Rs6.8bn and Rs7.1bn in FY14E and FY15F, respectively.

  Considering improving sector dynamics coupled with deleveraging and decent earnings momentum, we see no justification for MLCF to trade at a big discount to the sector. The scrip is cheap and our target price is Rs41, which offers 51% upside from current levels. We initiate our coverage with a ‘Buy’.

topline
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on February 18, 2014, 08:27:33 PM
My broker say you will get mlcf between range Rs. 22/- to Rs.24/- soon. So what did i do now as i have huge quantity on 28.44/-  :confused1:

Mojay b lay do is rate pa bhai.

Dehan Bhai, ley theta hoon per mera kafi nukshan ho gaye ga i have huge MLCF share quantity
 :crying_anim02:

hold it if you have it on cash
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on February 18, 2014, 08:34:59 PM
Maple Leaf Cement: Unmatched valuation
(February 18, 2013)

Improved sector dynamics led by better cement retention prices and supported by rising local demand, MLCF is one of the attractive scrips in Pakistan’s cement sector. MLCF trades at discount to the market PE as well as average cement sector PE. The stock trades at FY14E PE of 4.3x and FY15F PE of 3.9x, 44% discount to sector and 47% discount to the market.


MLCF has the potential to considerably reduce its debt obligations and post better earnings growth. We expect MLCF’s revenue to rise at 3-year (FY14-16) CAGR of 9% versus last 4-year (FY10-13) CAGR of 3%. Moreover, due to improving sales, stable coal price and declining financial charges we expect MLCF’s bottom-line to post 3-year (FY14-16) CAGR of 10%.

 

Due to improved efficiency and higher financial leverage, MLCF is benefiting from the turnaround in cement sector that stems from better margin scenario and fall in interest rates. Signs of economic recovery will further improve cement demand that will help in sustaining this profit improvement.

The company generated EBITDA of Rs1.5bn in 1QFY14 against Rs1.3bn in 1QFY13, up 13%. This will help the company in early repayment of its interest bearing debt which will reduce financial charges and ultimately post better bottom-line growth. We anticipate MLCF to post EBITDA of Rs6.8bn and Rs7.1bn in FY14E and FY15F, respectively.

  Considering improving sector dynamics coupled with deleveraging and decent earnings momentum, we see no justification for MLCF to trade at a big discount to the sector. The scrip is cheap and our target price is Rs41, which offers 51% upside from current levels. We initiate our coverage with a ‘Buy’.

topline

Ye kia TP daay di yaar.
Jab say is nein 27 tora tha mein rooz bolta tha Chat pa aur FB pa k is ko daikho. Kisi nien daikha hay kia?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Allah Tawakal on February 18, 2014, 11:50:04 PM
bhai TP 41 kab tak ki hy??
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on February 21, 2014, 06:20:49 PM
Result Preview

MLCF: 1HFY14 EPS expected at PKR2.55
 
Result expectation

Maple Leaf Cement (MLCF) is scheduled to announce its 1HFY14 financial results on 24-Feb-14. The company is expected to post EPS of PKR2.55, up 1% YoY. 
Margins to remain relatively flat owing to cost hikes
We expect MLCF to post EBITDA margin of PKR126/bag, up only 2% YoY. Production costs are expected to clock in at PKR239/bag, up 10% YoY on the back of power and transport cost hikes.
Slow dispatches to limit bottom line
The company is expected to have posted total dispatches of 1.23mn tons during 1HFY14, down 1% YoY. Local dispatches are expected to clock in at 0.96mn tons, down 2% YoY, while exports shall come in at 0.27mn tons, up 1%. 

Taxes to remain marginal
We expect effective tax rate for the period to clock in at 3%, against  -5% (tax reversal) for the same period last year. Taxes shall remain on the lower side since the company still held PKR3.3bn worth of unused tax losses at the end of FY13.

Investment perspective
Our Dec-14 price target of PKR28/sh for MLCF offers potential upside of 5% at last closing. We maintain HOLD on the stock.

Elixir
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on February 21, 2014, 06:21:38 PM

MLCF: 1HFY14 EPS forecasted at PKR2.47

Maple Leaf Cement Factory Ltd. (MLCF) is all set to announce its 1HFY14 financial result on Feb 24, 2014. We foresee MLCF reporting a profit after tax (PAT) of PKR1,303mn (EPS: PKR2.47) during 1HFY14 against a PAT of PKR1,350mn (EPS: PKR2.56) during the corresponding period last year, down 4pc. In line with its debt covenants, we do not foresee MLCF announcing any dividend – cash or stock - during 1HFY14!

… We foresee MLCF announcing FY14 profit after tax of PKR3,304mn (EPS: PKR6.26) but no cash dividend. Yesterday (Feb 20, 2014), the MLCF scrip closed at PKR26.61/- implying FY14 PER (x) of 4.25x and dividend yield of 0pc. Our Fair Value for the MLCF scrip stands at PKR35.20/- implying that the scrip is currently trading at a discount of 32pc to its fair value. We thus have a ‘BUY’ stance for MLCF scrip at current levels!

 AHCML
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on February 24, 2014, 06:40:23 PM
MLCF: 1HFY14 EPS jumps to PKR2.81

Maple Leaf Cement Factory Ltd. (MLCF) has announced its 1HFY14 financial result today (Feb 24, 2014). MLCF has reported a profit after tax (PAT) of PKR1,482mn (EPS: PKR2.81) during 1HFY14 against a PAT of PKR1,350mn (EPS: PKR2.56) during the corresponding period last year, up 10pc. In line with its debt covenants, MLCF did not announce any dividend – cash or stock - during 1HFY14!


… We foresee MLCF announcing FY14 profit after tax of PKR3,304mn (EPS: PKR6.26) but no cash dividend. In the last trading session (Feb 21, 2014), the MLCF scrip closed at PKR27.84/- implying FY14 PER (x) of 4.45x and dividend yield of 0pc. Our Fair Value for the MLCF scrip stands at PKR35.20/- implying that the scrip is currently trading at a discount of 26pc to its fair value. We thus have a ‘HOLD’ stance for MLCF scrip at current levels!

AHCML
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Allah Tawakal on February 24, 2014, 06:52:18 PM
MZ bhai, what impact do you see on share price?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on February 25, 2014, 07:51:31 AM
Maple Leaf Cement announces higher profit

Maple Leaf Cement has announced a profit after tax of Rs1.48 billion in the first half of fiscal year 2014 (1HFY14) ended on December 31, 2013, up 10% against a profit of Rs1.35 billion in the same period of the previous year.
Earnings per share (EPS) of the company increased to Rs2.81 compared to Rs2.56 in the same period of the previous year.
The company’s revenues increased to Rs8.84 billion, up 8% year-on-year (YoY) in 1HFY14 owing to the increase in the cement prices that jumped by around 11% during the period.
On the other hand, cost of sales also increased by 8% YoY. Consequently, Maple Cement’s gross margin stayed flat at 34% in 1HFY14.
JS Research reported on Monday that the Maple Leaf’s result is in line with its EPS estimate of Rs2.74.
Moreover, decline in financial charges (-8% YoY) also boosted the bottom-line growth in the period under review.
In 2QFY14, the company reported EPS of Rs1.76 as against Rs1.86 in the same period last year, down 5%. However, in comparison with 1QFY14, this is up 68% primarily due to 12% higher dispatches. Other important highlights of the result were 3 percentage points (ppts) jump in gross margin and 20% decline in the financial charges.
In the last fiscal year (FY13), Maple Leaf Cement recorded an abnormally high profit of Rs3.23 billion, up 550% compared to Rs496 million in FY12.
Maple Leaf – the third largest cement factory of Pakistan – is one of the companies of Kohinoor Maple Leaf Group, formed as a result of the trifurcation of the Saigon group of companies. In 1992, the company’s ownership was taken by the Kohinoor group under the government of Pakistan’s privatisation policy.
Published in The Express Tribune, February 25th, 2014.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: jamalakhter on February 25, 2014, 11:36:09 AM
MZ bhai, what impact do you see on share price?
                                                                                                           
Brother M Z please comment on this foreign selling trend
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on February 25, 2014, 07:54:16 PM
Maple Leaf: down but not out!

Cement sector has posted a mix bag of performances during the second quarter, and Maple Leaf Cement is no exception. The company has posted net earnings of Rs926 million during the period, down four percent since last year.

Poor quarterly performance during the three-month period ending December 2013 came amidst slowdown in sales. To recall, Maple Leaf is a producer located in the North region and has the largest share in export of white cement from the country. During the quarter ending December, regional exports from North recorded 12 percent year-on-year decline in exports, affecting Maples dispatches as a result. Historically, Maple Leaf has drawn nearly 20 percent of its revenue from exports, and any slowdown in the demand for the construction material from foreign markets poses serious risk to sales growth of the company.

Still, the company managed to grow its top line by 6.5 percent compared to last year, thanks to soaring prices of cement in the country. Cement prices across the country have increased by 14 percent on average during the three-month period, compared to the same period of last year, breaching the five hundred rupee barrier for the first time.

The soaring prices of cement bags, however, did nothing to improve margins of the company. In fact, the company witnessed 175 basis points shaved off its gross profitability, down to 35.3 percent this quarter. Gross margin suffered due to an uptick in power and transportation costs during the period, raising worries whether the company will be able to continue down the path of robust growth from last year.

Fortunately for the company, the drag down in the second quarter was not enough to erase the stellar performance from the first quarter. To recall, Maple Leaf had posted 45 percent year-on-year growth in net earnings during 1Q FY14, which came on the back of higher price per bag as well as better than expected off-take. While top line had inched forward by ten percent, gross margin posted improvement of 270 basis points.

As a result, top line posted modest growth of eight percent during first half of FY14, all thanks to the hedge from the first quarter. Further support came from positive tax reversals, which contributed a further Rs20 million to bottom line, against Rs65 million last year. Going forward, taxes are expected to remain on the lower side as the company is reported to have held Rs3.3 billion in unused tax losses at the end of last financial year.

Still, that may not be enough to keep the growth engine going, come second half of FY14. Already, exports from North have recorded 12 percent year-on-year decline during 7M FY14 as reported by the All Pakistan Cement Manufacturers Association. Moreover, reports suggest that the slowdown in PSDP allocation to infrastructure due to gaping holes in governments fiscal accounts has sharply affected growth projected for domestic cement dispatches. Reportedly, only 10 percent or Rs382 million of total Rs3.8 billion allocated to Housing and Works Ministry for FY14 saw the light of the day during the first half.

Thus, if the current trend continues, domestic dispatches, which have shown modest improvement, may prove to be Maple Leafs only hope for a better full year. Will those be enough to beat the record performance from last year? Only time will tell.

=====================================================================================
MAPLE LEAF CEMENT FACTORY LIMITED
=====================================================================================
Rs (mn)                        Dec-12    Dec-13      chg     Dec-12    Dec-13      chg
=====================================================================================
Financial Performance                   1H ended                     2Q ended
=====================================================================================
Sales                           8,175     8,844     8.2%      4,367     4,652    6.5%
Cost of goods sold             (5,430)   (5,848)    7.7%     (2,750)   (3,011)   9.5%
Gross profit                    2,745     2,996     9.2%      1,617     1,641    1.5%
Gross margin                     33.6%     33.9%              37.0%      35.3%
Distribution cost                (384)     (477)   24.4%       (197)     (245)  24.4%
Administrative expenses          (115)     (140)   21.0%        (62)      (73)  17.1%
Other operating expenses          (56)      (92)   63.3%        (56)      (68)  22.0%
Other operating income             18        46   149.9%         13        29  116.1%
Operating Profit                2,208     2,333     5.7%      1,315     1,284   -2.4%
Operating margin                 27.0%     26.4%              30.1%     27.6%
Finance cost                     (929)     (852)   -8.2%       (415)     (378)  -9.0%
Profit before taxation          1,279     1,480    15.8%        900       906    0.7%
Taxation                          (71)       (2)  -96.8%         65        20  -69.5%
Profit after taxation           1,207     1,478    22.4%        966       926   -4.1%
Net margin                       14.8%     16.7%               22.1%     19.9%
EPS (Rs)                         2.56      2.81     9.8%       1.86      1.76   -5.4%
=====================================================================================
Source: KSE notice
=====================================================================================
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on February 25, 2014, 07:57:11 PM
MZ bhai, what impact do you see on share price?

price already increased 8% during last 2 trading session,wil consolidate or take dip for further gains.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: tahirdxb on March 04, 2014, 12:55:38 AM
(http://www.naibaat.com.pk/nbfinal/ePaper/lahore/03-03-2014/Detail/p14_06.jpg)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Allah Tawakal on March 11, 2014, 11:54:44 PM
Better financial results having very negative impact on this,,, what could be reason seniors?  :skeptic:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ziauddin on March 21, 2014, 11:02:57 PM
mlcf funds holdings

ABL Stock Fund    February 2014   5.63%   757,120,000
ALFALAH GHP Value Fund    February 2014   4.12%   496,000,000
HBL Islamic Stock Fund   February 2014   5.55%   636,478,000
HBL MultiAssetFund   February 2014   3.68%   646,136,000
HBL Stock Fund   
february 2014   4.44%   3,663,000,000
IGI Stock Fund   February 2014   6.16%   536,000,000
MCB - International Element Islamic Asset Allocation Fund    February 2014   4.4%   247,000,000
MCB Dynamic Allocation Fund   February 2014   1.1%   665,000,000
MCB Dynamic Stock Fund   February 2014   4.1%   972,000,000
MCB Premier Fund   February 2014   3.7%   756,000,000
MCB Stock Market Fund   February 2014   4.1%   1,240,000,000
MCB Strategic Allocation Fund   February 2014   4.9%   367,000,000
NAFA Stock Fund   February 2014   3.83%   1,307,000,000
Pak Oman Advantage Asset Allocation fund    February 2014   2.15%   107,770,000
UNITED Stock Advantage Fund   February 2014   4%   2,198,000,00

sab feb 2014 ki holding hai
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on March 22, 2014, 11:01:25 AM
mlcf funds holdings

ABL Stock Fund    February 2014   5.63%   757,120,000
ALFALAH GHP Value Fund    February 2014   4.12%   496,000,000
HBL Islamic Stock Fund   February 2014   5.55%   636,478,000
HBL MultiAssetFund   February 2014   3.68%   646,136,000
HBL Stock Fund   
february 2014   4.44%   3,663,000,000
IGI Stock Fund   February 2014   6.16%   536,000,000
MCB - International Element Islamic Asset Allocation Fund    February 2014   4.4%   247,000,000
MCB Dynamic Allocation Fund   February 2014   1.1%   665,000,000
MCB Dynamic Stock Fund   February 2014   4.1%   972,000,000
MCB Premier Fund   February 2014   3.7%   756,000,000
MCB Stock Market Fund   February 2014   4.1%   1,240,000,000
MCB Strategic Allocation Fund   February 2014   4.9%   367,000,000
NAFA Stock Fund   February 2014   3.83%   1,307,000,000
Pak Oman Advantage Asset Allocation fund    February 2014   2.15%   107,770,000
UNITED Stock Advantage Fund   February 2014   4%   2,198,000,00

sab feb 2014 ki holding hai
:thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: valor123 on March 22, 2014, 12:04:09 PM
Friday ko kis group ne unload kia??  :(
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on March 22, 2014, 09:44:53 PM
mlcf funds holdings

ABL Stock Fund    February 2014   5.63%   757,120,000
ALFALAH GHP Value Fund    February 2014   4.12%   496,000,000
HBL Islamic Stock Fund   February 2014   5.55%   636,478,000
HBL MultiAssetFund   February 2014   3.68%   646,136,000
HBL Stock Fund   
february 2014   4.44%   3,663,000,000
IGI Stock Fund   February 2014   6.16%   536,000,000
MCB - International Element Islamic Asset Allocation Fund    February 2014   4.4%   247,000,000
MCB Dynamic Allocation Fund   February 2014   1.1%   665,000,000
MCB Dynamic Stock Fund   February 2014   4.1%   972,000,000
MCB Premier Fund   February 2014   3.7%   756,000,000
MCB Stock Market Fund   February 2014   4.1%   1,240,000,000
MCB Strategic Allocation Fund   February 2014   4.9%   367,000,000
NAFA Stock Fund   February 2014   3.83%   1,307,000,000
Pak Oman Advantage Asset Allocation fund    February 2014   2.15%   107,770,000
UNITED Stock Advantage Fund   February 2014   4%   2,198,000,00

sab feb 2014 ki holding hai

how are islamic funds holding maple ? its still a considerably leveraged company  :o
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: engrusama on March 22, 2014, 11:28:27 PM
mlcf funds holdings

ABL Stock Fund    February 2014   5.63%   757,120,000
ALFALAH GHP Value Fund    February 2014   4.12%   496,000,000
HBL Islamic Stock Fund   February 2014   5.55%   636,478,000
HBL MultiAssetFund   February 2014   3.68%   646,136,000
HBL Stock Fund   
february 2014   4.44%   3,663,000,000
IGI Stock Fund   February 2014   6.16%   536,000,000
MCB - International Element Islamic Asset Allocation Fund    February 2014   4.4%   247,000,000
MCB Dynamic Allocation Fund   February 2014   1.1%   665,000,000
MCB Dynamic Stock Fund   February 2014   4.1%   972,000,000
MCB Premier Fund   February 2014   3.7%   756,000,000
MCB Stock Market Fund   February 2014   4.1%   1,240,000,000
MCB Strategic Allocation Fund   February 2014   4.9%   367,000,000
NAFA Stock Fund   February 2014   3.83%   1,307,000,000
Pak Oman Advantage Asset Allocation fund    February 2014   2.15%   107,770,000
UNITED Stock Advantage Fund   February 2014   4%   2,198,000,00

sab feb 2014 ki holding hai

how are islamic funds holding maple ? its still a considerably leveraged company  :o

It is in the shariah compliant list... Go figure
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umar on March 22, 2014, 11:53:38 PM
mlcf funds holdings

ABL Stock Fund    February 2014   5.63%   757,120,000
ALFALAH GHP Value Fund    February 2014   4.12%   496,000,000
HBL Islamic Stock Fund   February 2014   5.55%   636,478,000
HBL MultiAssetFund   February 2014   3.68%   646,136,000
HBL Stock Fund   
february 2014   4.44%   3,663,000,000
IGI Stock Fund   February 2014   6.16%   536,000,000
MCB - International Element Islamic Asset Allocation Fund    February 2014   4.4%   247,000,000
MCB Dynamic Allocation Fund   February 2014   1.1%   665,000,000
MCB Dynamic Stock Fund   February 2014   4.1%   972,000,000
MCB Premier Fund   February 2014   3.7%   756,000,000
MCB Stock Market Fund   February 2014   4.1%   1,240,000,000
MCB Strategic Allocation Fund   February 2014   4.9%   367,000,000
NAFA Stock Fund   February 2014   3.83%   1,307,000,000
Pak Oman Advantage Asset Allocation fund    February 2014   2.15%   107,770,000
UNITED Stock Advantage Fund   February 2014   4%   2,198,000,00

sab feb 2014 ki holding hai

how are islamic funds holding maple ? its still a considerably leveraged company  :o

Shariah compliance terms.

Interest Bearing Debt to Total Assets, <37%
The Interest Bearing Debt to Assets ratio should be less than 37%. To understand the rationale behind this condition, it should be kept in mind that such companies are mostly based on interest. Here again, the aforementioned principle applies i.e. if the shareholder is not personally agreeable to such borrowings, but has been overruled by the majority, these borrowing transactions cannot be attributed to him/her. Debt, in this case, is classified as any interest bearing debt including Bonds, TFCs, Commercial Paper, Conventional Bank Loans, Finance Lease, Hire Purchase, issuing preference shares etc.

Non-Compliant Investments to Total Assets, <33%
The ratio of Non Compliant Investments to Total Assets should be less than 33%. Non-Shariah Compliant Investments include investments in conventional mutual funds, conventional money market instruments, Commercial Paper, interest bearing bank deposits, Bonds, PIBs, FIB, T-Bills, CoIs, CoDs, TFCs, DSCs, NSS, derivatives etc. Non-Compliant investments also include investments in companies which are declared Shariah non-Compliant due to non-compliance to any of the mentioned criteria for Shariah Compliance.

Non-complaint Income to Total revenue, <5%
The ratio of Non Compliant Income to Total Revenue should be less than 5%. Total Revenue includes Gross Revenue plus any other income earned by the company. Non Compliant Income includes income from gambling, income from interest based transactions, income from Gharar based transactions i.e. derivatives, insurance claim reimbursement from a conventional insurance company, any penalty charged on late payment in credit sale, income from casinos, addictive drugs, alcohol, dividend income from above mentioned businesses or companies which have been declared Shariah Non-Compliant due to non-compliance to any of the mentioned criteria for
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Munda_Lahori on March 27, 2014, 01:45:00 AM
Salaam,
Has anyone done any analysis in terms of the earliest date on which MLCF can pay a dividend? It would basically mean that some trigger in its debt covenant is not allowing them to pay dividends, when do they start passing this trigger?

Thanks.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on March 27, 2014, 02:10:55 AM
Salaam,
Has anyone done any analysis in terms of the earliest date on which MLCF can pay a dividend? It would basically mean that some trigger in its debt covenant is not allowing them to pay dividends, when do they start passing this trigger?

Thanks.

i dont know what the exact covenant is .. but if they make same amount of money in 2H as they did in 1H , and repay same amount as well .. they should end up with around 9.9 billion equity and 12 billion total interest bearing liabilities and 550 million cash.
The company is now current with all debt obligations and projected position of balance sheet should be comfortable enough for lender to allow dividends. 1 rupee can be possible

I believe 2h profits should be actually higher than 1H, especially q4 as effect of strong rupee and lower coal prices come into play.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on March 27, 2014, 08:09:27 PM
Maple Leaf Cement Factory attractive valuations relative to peers

We initiate coverage on Maple Leaf Cement Factory (MLCF) with a BUY stance. Our Jun15 TP for the share stands at PKR 39/sh, offering an upside of 30%. Moreover, the scrip trades at an FY14 PE of 4.8x, a significant discount to our cement sector universe’s PE of 8.5x. We believe MLCF’s discount relative to peers is unjustified considering the company has one of the highest retention prices and production efficiency of amongst all Pakistani cement manufacturers. Moreover, favorable industry fundamentals could unlock additional upside for the sector, paving way for MLCF to reach new highs.

Highest retention amongst peers

MLCF has one of the highest retention amongst Pakistani cement manufacturers with a retention value of ~PKR 7,500/MT, which is ~5% above the industry’s average. MLCF is the largest producer of white cement as the company has a white cement plant with an annual production capacity of 0.15mn MT. White cement is considered a premium product and consequently, the cement trades at a premium of 40-50% relative to gray cement. In addition MLCF also has a 0.3mn MT Sulphate Resistant Cement (SRC) plant, which is primarily used in construction near water areas, such as coastal regions and rivers. Pakistan has been recently focusing on constructing dams to reduce its electricity production cost. Once the construction of Dasu and Basha dam begins, the demand for MLCF’s SRC will increase substantially as SRC is necessary to prevent structural damage resulting from consistent contact with water.

On the export side, the company’s close proximity to Afghanistan allows it to enjoy lower transportation charges on its export sales. Recently, however, demand from Afghanistan has been declining due to smuggled Iranian cement. Furthermore, scheduled withdrawal of NATO troops will dent export demand in the longer run. With current focus on granting India with MFN status, a new export market could develop for MLCF as APCMA believes exports to India has the potential to reach 6.0mn MT. This potential demand may allow MLCF to offset the potential decline from Afghanistan, allowing the company to maintain its capacity utilization in the longer run.

Efficiency measures insulating against inflationary pressures

MLCF is one of the most efficient producers of cement with a production cost of PKR 4,000/MT. The company has installed a 16MW Waste Heat Recovery (WHR) plant, which has reduced the company’s reliance on the grid by ~30%. Moreover, the company also relies on its gas fired power plant, allowing the company to produce electricity at a significant discount to the grid. According to the management, the company fulfills 60% of its electricity requirement via the gas plant and the WHR system. Since the company is significantly insulated against rising power costs, any price hikes resulting from higher energy costs will allow the company to improve its overall margins.

The company has also taken an initiative to utilize PET coke as an alternative to regular coal as PET coke offers a higher heating value per ton compared to coal. Moreover, PET coke is also 10% to 15% cheaper per MMBTU compared with coal. Not only does MLCF reduce its kilning costs by ~PKR 150/MT from utilizing PET coke, but it also incurs lower transportation charges because PET Coke has a higher heating value per MT. In addition, international coal prices have also declined by 12% to USD 75/MT due to an international shift towards employing greener fuels. According to our estimates, every USD 5/MT decline in coal costs reduces MLCF’s cost by PKR 4/bag.

Healthy cashflows to accelerate de-leveraging

After cement prices started continuously rising since May10, MLCF’s cashflows started growing at a rapid pace. The company’s debt, which had totaled PKR 18bn as of Jun30’11, declined to PKR 10.7bn as of Dec 30’13. Consequently, the company’s finance cost declined by 28% YoY to PKR 1.7bn during FY13. Assuming the company maintains its profitability and continues with its aggressive loan prepayments, we estimate that MLCF will be debt-free by FY16.

Global Research
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on April 03, 2014, 07:07:28 PM
Time for MLCF to outperform

We foresee MLCF to report net earnings of PKR1,0430m in 3Q, translating into an EPS of PKR1.98, up 13% QoQ. We believe the QoQ increase in profitability is likely to come at the back of; 1) 3% QoQ jump in local retention levels, 2) expected 3/9% QoQ growth in local and export dispatches, and 3) decline in  financial charges as the company is repaying its long term debt. On a cumulative 9MFY14 basis, we expect the company to display a decent growth of 15% YoY in bottom line (EPS PKR4.79).

With its peers share price starting to move up, we feel that the enticing earnings multiple warrant MLCFs performance as well. We have updated our financial model after tweaking our macro assumptions and come up with a revised June14 TP of PKR40.5/share and FY14/15 EPS of PKR6.84/7.75, respectively. Moreover, the scrip is trading at FY14 P/E of 4.4x and offers a handsome upside potential of 33% from last closing price. BUY maintained.

 taurus
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 03, 2014, 07:16:35 PM
Time for MLCF to outperform

We foresee MLCF to report net earnings of PKR1,0430m in 3Q, translating into an EPS of PKR1.98, up 13% QoQ. We believe the QoQ increase in profitability is likely to come at the back of; 1) 3% QoQ jump in local retention levels, 2) expected 3/9% QoQ growth in local and export dispatches, and 3) decline in  financial charges as the company is repaying its long term debt. On a cumulative 9MFY14 basis, we expect the company to display a decent growth of 15% YoY in bottom line (EPS PKR4.79).

With its peers share price starting to move up, we feel that the enticing earnings multiple warrant MLCFs performance as well. We have updated our financial model after tweaking our macro assumptions and come up with a revised June14 TP of PKR40.5/share and FY14/15 EPS of PKR6.84/7.75, respectively. Moreover, the scrip is trading at FY14 P/E of 4.4x and offers a handsome upside potential of 33% from last closing price. BUY maintained.

 taurus
Kal phir ho jia 31+.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: newface on April 03, 2014, 08:10:46 PM
Time for MLCF to outperform

We foresee MLCF to report net earnings of PKR1,0430m in 3Q, translating into an EPS of PKR1.98, up 13% QoQ. We believe the QoQ increase in profitability is likely to come at the back of; 1) 3% QoQ jump in local retention levels, 2) expected 3/9% QoQ growth in local and export dispatches, and 3) decline in  financial charges as the company is repaying its long term debt. On a cumulative 9MFY14 basis, we expect the company to display a decent growth of 15% YoY in bottom line (EPS PKR4.79).

With its peers share price starting to move up, we feel that the enticing earnings multiple warrant MLCFs performance as well. We have updated our financial model after tweaking our macro assumptions and come up with a revised June14 TP of PKR40.5/share and FY14/15 EPS of PKR6.84/7.75, respectively. Moreover, the scrip is trading at FY14 P/E of 4.4x and offers a handsome upside potential of 33% from last closing price. BUY maintained.

 taurus
Kal phir ho jia 31+.

MLCF KHASSI item sabit hua he. Is ko salajeet bhi khila do KHASSI hi rahega. Maan Lo
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Cheetah on April 03, 2014, 11:54:22 PM
^^ Nopes . Maple leaf looks very attractive at this rate . Calls for some quick gains  :good
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: waqasmujahid on April 04, 2014, 12:13:34 AM
Seniors is it good to buy at this rate ??
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: perfect on April 04, 2014, 08:54:22 AM
MLCF NCL and Engro seems attractive for today, pl, comments.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Ali Shaikh on April 08, 2014, 10:23:02 AM
guys mene 31ka lia hua hy... bht niche agya hy.. dil kharab horha hy please any one can guid me?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on April 08, 2014, 11:24:53 AM
guys mene 31ka lia hua hy... bht niche agya hy.. dil kharab horha hy please any one can guid me?

hold it
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Ali Shaikh on April 08, 2014, 11:43:06 AM
bro kab tak???


guys mene 31ka lia hua hy... bht niche agya hy.. dil kharab horha hy please any one can guid me?

hold it
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: waqasmujahid on April 08, 2014, 03:32:27 PM
26 kraoo yaarooo
apnu ne entry marna hy  :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: valor123 on April 08, 2014, 08:06:29 PM
26 kraoo yaarooo
apnu ne entry marna hy  :thumbsup_anim:
Entry marni hay tou abhi mar lain, 28 ke aas pas, yeh nah ziada neechay jata hay aur na upar... 28 aur 30 ke darmian lurhkta rahay ga tezion mandion mai.....
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: waqasmujahid on April 09, 2014, 12:05:19 AM
26 kraoo yaarooo
apnu ne entry marna hy  :thumbsup_anim:
Entry marni hay tou abhi mar lain, 28 ke aas pas, yeh nah ziada neechay jata hay aur na upar... 28 aur 30 ke darmian lurhkta rahay ga tezion mandion mai.....

 :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Atif1 on April 09, 2014, 05:05:24 PM
difference between maple and KTML increased to 4+ now,  either maple should  go down on ktml should increase :confused1:, ins't it better and safe to take exposure in ktml rather then mlcf
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on April 18, 2014, 03:25:16 PM
is ny move hona hai ya ni   huhu  :(
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on April 18, 2014, 10:46:03 PM
difference between maple and KTML increased to 4+ now,  either maple should  go down on ktml should increase :confused1:, ins't it better and safe to take exposure in ktml rather then mlcf

buy maple instead of ktml, my suggestion only.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on April 19, 2014, 06:50:13 PM
Maple Leaf Cement – Hidden jewel!!
Synopsis
We initiate our coverage in MLCF, having capacity of 3.36mn tons –
utilization capacity FY14E 83% (FY13: 81%). We have forecasted FY14
EPS of Rs 6.65/sh deciphering PE of 4.47x. Our thrust of increase in
EPS is due to swelling sales price of cement bag in FY14 and
employing noticeable cost reduction techniques.

Key Ratios                        FY13               FY14 E
EPS                                  6.11                   6.65
P/E                                    4.9                     4.5
BVS                               22.40                 31.89
PBV                                   1.3                     0.9
ROA                               10.0%                17.1%

9MFY14 performance to be sanguine despite lean period overall

MLCF attained dispatches of 1.8mn tons which was a bit leaner show
as against last year but the advantage is in retention prices. Like any
cement plant in the country MLCF is a price sensitive model.
We expect EPS of Rs 4.45 during 9MFY14 given our thrust of

Dispatches
000 tons                                       9MFY13            9MFY14E        Chg
Local sales                                 1,452.33              1,483.91        2.2%
Export sales                                  434.18                 379.52    -12.6%
Total                                           1,886.51              1,863.43      -1.2%
9MFY13 P&L
Rs mn                                           9MFY13            9MFY14E        Chg
Net local sales                        10,316.82            11,331.13        9.8%
Export sales                               2,388.01              2,087.38    -12.6%
Net Sales                                 12,704.84            13,418.51        5.6%
Gross Profit                               4,285.20              4,639.44        8.3%
Net Profit                                  2,197.22              2,348.24        6.9%
EPS (Rs /sh)                                    4.16                     4.45      7.0%

Cement Association & www.scstrade.com Research Deptt.

increase in overall sales revenue to Rs 11.33bn thus depicting nearly 10% y-o-y growth. MLCF margins have increased in the given period. The 3Q remains slow especially in business zones of Punjab and KPK due to fog on major carriageways which restricts movements for at least 15 days. Hence we see robust 4Q on the cards given greater demand.

Margins increased - MLCF in line with industry
Already we see that companies in Northern Zone got benefit of resounding increase in retention prices i.e. 14% as per our estimation from last year.
Overall we would continue to see advantage in local sales since export sales continued to have little charm in terms of margins. Increase in local price of cement will appreciate the retention price to Rs. 400 per 50 kg bag.
MLCF won’t mind decrease in export sales since it could have resulted in exchange loss in recent times given Dollar decline vis-à-vis PKR.
GP margin and NP margin will appreciate by 1% to 35% and 18% respectively from last year.

Valuation | PE of 4.5x lower than peers FCCL & DGKC
MLCF deciphers FY14E PE of 4.5x based on our thrust of Rs 6.65/sh – which is quite lower than peers such as FCCL 7x, DGKC 6.4x – We recommend BUY in our first call over MLCF.

SCS
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Munda_Lahori on April 19, 2014, 07:46:06 PM
Not very great analysis by SCS, any discussion of MLCF without discussing its leverage position (and expected de-leveraging) is missing a key point in the story of this script!
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on April 19, 2014, 09:14:59 PM
Not very great analysis by SCS, any discussion of MLCF without discussing its leverage position (and expected de-leveraging) is missing a key point in the story of this script!

bro SCS has very good quality control. Every report is crap.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on April 19, 2014, 09:30:54 PM
Not very great analysis by SCS, any discussion of MLCF without discussing its leverage position (and expected de-leveraging) is missing a key point in the story of this script!

bro SCS has very good quality control. Every report is crap.

there is one report by taurus on mlcf during last 30 days, that provide some better analysis. however he assumed depreciation as a variable cost, instead its a fixed cost and not linked with dispatches and makes significant difference in forecast.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on April 19, 2014, 09:34:24 PM
Not very great analysis by SCS, any discussion of MLCF without discussing its leverage position (and expected de-leveraging) is missing a key point in the story of this script!

bro SCS has very good quality control. Every report is crap.

there is one report by taurus on mlcf during last 30 days, that provide some better analysis. however he assumed depreciation as a variable cost, instead its a fixed cost and not linked with dispatches and makes significant difference in forecast. First quarter pre tax earnings could surpass 2 rupees mark marginally.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stalker on April 19, 2014, 10:44:39 PM
Not very great analysis by SCS, any discussion of MLCF without discussing its leverage position (and expected de-leveraging) is missing a key point in the story of this script!

bro SCS has very good quality control. Every report is crap.

there is one report by taurus on mlcf during last 30 days, that provide some better analysis. however he assumed depreciation as a variable cost, instead its a fixed cost and not linked with dispatches and makes significant difference in forecast.

Most cement manufacturers depreciate plant and machinery using UPM! UPM is variable as it is linked with production activity.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on April 19, 2014, 11:37:17 PM
Not very great analysis by SCS, any discussion of MLCF without discussing its leverage position (and expected de-leveraging) is missing a key point in the story of this script!

bro SCS has very good quality control. Every report is crap.

there is one report by taurus on mlcf during last 30 days, that provide some better analysis. however he assumed depreciation as a variable cost, instead its a fixed cost and not linked with dispatches and makes significant difference in forecast.

Most cement manufacturers depreciate plant and machinery using UPM! UPM is variable as it is linked with production activity.

From june 2013 MLCF Annual Report

"Depreciation is calculated at the rates specified in note 18.1 on reducing balance method except
that straight-line method is used for the plant and machinery and buildings relating to dry process
plant after deducting residual value.
Depreciation on additions and deletions is charged on pro rata
basis. The assets’ residual values and useful lives are reviewed and adjusted, if appropriate, at
each balance sheet date. "

Annual reports are generally not available to research analysts.  uuu




Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stalker on April 19, 2014, 11:50:58 PM
okay! reducing balance hai toh phir fixed!
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: zakhan76 on April 21, 2014, 05:16:43 PM
We resume our coverage on Maple Leaf Cement Factory Ltd. (MLCF) with a FCFF based Dec’14 target price of PKR 51/share. The stock currently presents an upside of 68% and trades at an FY14 and FY15 PER of 4.2x and 3.5x. BUY!

MLCF is the cheapest stock in the sector on a FY14E price/cash flow basis (2.9x) and we believe that with its relatively new and efficient plant and swiftly declining debt MLCF trades at an undue discount.

MLCF currently holds debt of PKR 13.8bn and with a cash generation of PKR 5.5bn in FY14 and PKR 6.2bn in FY15 we expect the company to deleverage considerably in coming years.

MLCF currently sells grey cement for PKR 498/bag and sells white cement for PKR 700/bag and has a better retention price than peers.

MLCF relies on pet coke for 50% of its fuel cost along with imported coal which reduces its total fuel cost. MLCF should be able to restrict its fuel cost/ton to PKR 1600 against the north zones average of PKR 1900-2000/ton.

MLCF has installed a WHR system along with a captive power plant which keeps power costs under control. Due to less reliance on the grid MLCF is a beneficiary of an increase in electricity prices.

We expect MLCF to pay a minimum tax of 1% of revenue for another 2 years due to previous losses and accelerated depreciation. This would make more cash available to repay debt.

MLCF currently harbors a spare capacity of 800,000 tons and would benefit from any increase in local demand.

FSL Research
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on April 21, 2014, 07:44:45 PM
We resume our coverage on Maple Leaf Cement Factory Ltd. (MLCF) with a FCFF based Dec’14 target price of PKR 51/share. The stock currently presents an upside of 68% and trades at an FY14 and FY15 PER of 4.2x and 3.5x. BUY!

MLCF is the cheapest stock in the sector on a FY14E price/cash flow basis (2.9x) and we believe that with its relatively new and efficient plant and swiftly declining debt MLCF trades at an undue discount.

MLCF currently holds debt of PKR 13.8bn and with a cash generation of PKR 5.5bn in FY14 and PKR 6.2bn in FY15 we expect the company to deleverage considerably in coming years.

MLCF currently sells grey cement for PKR 498/bag and sells white cement for PKR 700/bag and has a better retention price than peers.

MLCF relies on pet coke for 50% of its fuel cost along with imported coal which reduces its total fuel cost. MLCF should be able to restrict its fuel cost/ton to PKR 1600 against the north zones average of PKR 1900-2000/ton.

MLCF has installed a WHR system along with a captive power plant which keeps power costs under control. Due to less reliance on the grid MLCF is a beneficiary of an increase in electricity prices.

We expect MLCF to pay a minimum tax of 1% of revenue for another 2 years due to previous losses and accelerated depreciation. This would make more cash available to repay debt.

MLCF currently harbors a spare capacity of 800,000 tons and would benefit from any increase in local demand.

FSL Research

I fully agree with the research done by Fortune Securities, good work. Buy call is well justified however do not think that the return is  guaranteed, its the view on the stock as of today.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 21, 2014, 08:46:30 PM
We resume our coverage on Maple Leaf Cement Factory Ltd. (MLCF) with a FCFF based Dec’14 target price of PKR 51/share. The stock currently presents an upside of 68% and trades at an FY14 and FY15 PER of 4.2x and 3.5x. BUY!

MLCF is the cheapest stock in the sector on a FY14E price/cash flow basis (2.9x) and we believe that with its relatively new and efficient plant and swiftly declining debt MLCF trades at an undue discount.

MLCF currently holds debt of PKR 13.8bn and with a cash generation of PKR 5.5bn in FY14 and PKR 6.2bn in FY15 we expect the company to deleverage considerably in coming years.

MLCF currently sells grey cement for PKR 498/bag and sells white cement for PKR 700/bag and has a better retention price than peers.

MLCF relies on pet coke for 50% of its fuel cost along with imported coal which reduces its total fuel cost. MLCF should be able to restrict its fuel cost/ton to PKR 1600 against the north zones average of PKR 1900-2000/ton.

MLCF has installed a WHR system along with a captive power plant which keeps power costs under control. Due to less reliance on the grid MLCF is a beneficiary of an increase in electricity prices.

We expect MLCF to pay a minimum tax of 1% of revenue for another 2 years due to previous losses and accelerated depreciation. This would make more cash available to repay debt.

MLCF currently harbors a spare capacity of 800,000 tons and would benefit from any increase in local demand.

FSL Research

I fully agree with the research done by Fortune Securities, good work. Buy call is well justified however do not think that the return is  guaranteed, its the view on the stock as of today.
Mera Target to 40 ka hay. Ye to muj say b agay ja niklay.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on April 21, 2014, 09:35:58 PM
We resume our coverage on Maple Leaf Cement Factory Ltd. (MLCF) with a FCFF based Dec’14 target price of PKR 51/share. The stock currently presents an upside of 68% and trades at an FY14 and FY15 PER of 4.2x and 3.5x. BUY!

MLCF is the cheapest stock in the sector on a FY14E price/cash flow basis (2.9x) and we believe that with its relatively new and efficient plant and swiftly declining debt MLCF trades at an undue discount.

MLCF currently holds debt of PKR 13.8bn and with a cash generation of PKR 5.5bn in FY14 and PKR 6.2bn in FY15 we expect the company to deleverage considerably in coming years.

MLCF currently sells grey cement for PKR 498/bag and sells white cement for PKR 700/bag and has a better retention price than peers.

MLCF relies on pet coke for 50% of its fuel cost along with imported coal which reduces its total fuel cost. MLCF should be able to restrict its fuel cost/ton to PKR 1600 against the north zones average of PKR 1900-2000/ton.

MLCF has installed a WHR system along with a captive power plant which keeps power costs under control. Due to less reliance on the grid MLCF is a beneficiary of an increase in electricity prices.

We expect MLCF to pay a minimum tax of 1% of revenue for another 2 years due to previous losses and accelerated depreciation. This would make more cash available to repay debt.

MLCF currently harbors a spare capacity of 800,000 tons and would benefit from any increase in local demand.

FSL Research

I fully agree with the research done by Fortune Securities, good work. Buy call is well justified however do not think that the return is  guaranteed, its the view on the stock as of today.
Mera Target to 40 ka hay. Ye to muj say b agay ja niklay.

you may see your target price before May 31-2014.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 21, 2014, 09:40:22 PM
We resume our coverage on Maple Leaf Cement Factory Ltd. (MLCF) with a FCFF based Dec’14 target price of PKR 51/share. The stock currently presents an upside of 68% and trades at an FY14 and FY15 PER of 4.2x and 3.5x. BUY!

MLCF is the cheapest stock in the sector on a FY14E price/cash flow basis (2.9x) and we believe that with its relatively new and efficient plant and swiftly declining debt MLCF trades at an undue discount.

MLCF currently holds debt of PKR 13.8bn and with a cash generation of PKR 5.5bn in FY14 and PKR 6.2bn in FY15 we expect the company to deleverage considerably in coming years.

MLCF currently sells grey cement for PKR 498/bag and sells white cement for PKR 700/bag and has a better retention price than peers.

MLCF relies on pet coke for 50% of its fuel cost along with imported coal which reduces its total fuel cost. MLCF should be able to restrict its fuel cost/ton to PKR 1600 against the north zones average of PKR 1900-2000/ton.

MLCF has installed a WHR system along with a captive power plant which keeps power costs under control. Due to less reliance on the grid MLCF is a beneficiary of an increase in electricity prices.

We expect MLCF to pay a minimum tax of 1% of revenue for another 2 years due to previous losses and accelerated depreciation. This would make more cash available to repay debt.

MLCF currently harbors a spare capacity of 800,000 tons and would benefit from any increase in local demand.

FSL Research

I fully agree with the research done by Fortune Securities, good work. Buy call is well justified however do not think that the return is  guaranteed, its the view on the stock as of today.
Mera Target to 40 ka hay. Ye to muj say b agay ja niklay.

you may see your target price before May 31-2014.
Insha ALLAH
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on April 22, 2014, 01:53:25 PM
 ::)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on April 22, 2014, 02:38:08 PM
chal bhai bht sabar krwa dia  :lazy2:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on April 22, 2014, 03:40:18 PM
hm nay b lay lia hay ab
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 22, 2014, 05:14:54 PM
hm nay b lay lia hay ab
Bohat dair ki meheban atay atay.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on April 22, 2014, 05:29:13 PM
hm nay b lay lia hay ab
Bohat dair ki meheban atay atay.
40 k chakar me lay lia hay 10k
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on April 22, 2014, 05:57:49 PM
MLCF: 3QFY14 EPS expected at PKR1.79
MLCF is scheduled to announce its 3QFY14 result tomorrow. We expect the company to post EPS of PKR1.79, up 12% YoY and 2% QoQ owing to higher margins during the period. 

elixir
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: zakhan76 on April 22, 2014, 07:28:35 PM
MLCF growth to continue

Maple leaf cement earning is expected to post 7% QoQ growth as profit after taxation to surge at Rs 991 million (EPS: Rs 1.88) against PAT of Rs 926 million (EPS: Rs 1.76) in 2QFY14. On cumulative basis for 9MFY14 earnings to remain higher at Rs 2,473 million (EPS: Rs 4.69) as against Rs 2,197 million (EPS: Rs 4.16) in corresponding period last year. This is expected due to higher cement prices, reasonable growth in other income and lower financing cost. Company’s top line to improve by 7.3% YoY despite lower volumetric sale to reach at Rs 13.62 billion in 9MFY14 compared to Rs 12.70 billion in 9MFY13. Volumetric sales decline by 2% to 1.86 million tons in 9MFY14 against 1.90 million tons in 9MFY13 mainly due to both local and exports volumes drop by 2%. Gross profit to go up by 11% to Rs 4.74 billion in 9MFY14 compared to Rs 4.28 billion in 9MFY13 owing to improve retention prices.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on April 23, 2014, 04:13:33 AM
We resume our coverage on Maple Leaf Cement Factory Ltd. (MLCF) with a FCFF based Dec’14 target price of PKR 51/share. The stock currently presents an upside of 68% and trades at an FY14 and FY15 PER of 4.2x and 3.5x. BUY!

MLCF is the cheapest stock in the sector on a FY14E price/cash flow basis (2.9x) and we believe that with its relatively new and efficient plant and swiftly declining debt MLCF trades at an undue discount.

MLCF currently holds debt of PKR 13.8bn and with a cash generation of PKR 5.5bn in FY14 and PKR 6.2bn in FY15 we expect the company to deleverage considerably in coming years.

MLCF currently sells grey cement for PKR 498/bag and sells white cement for PKR 700/bag and has a better retention price than peers.

MLCF relies on pet coke for 50% of its fuel cost along with imported coal which reduces its total fuel cost. MLCF should be able to restrict its fuel cost/ton to PKR 1600 against the north zones average of PKR 1900-2000/ton.

MLCF has installed a WHR system along with a captive power plant which keeps power costs under control. Due to less reliance on the grid MLCF is a beneficiary of an increase in electricity prices.

We expect MLCF to pay a minimum tax of 1% of revenue for another 2 years due to previous losses and accelerated depreciation. This would make more cash available to repay debt.

MLCF currently harbors a spare capacity of 800,000 tons and would benefit from any increase in local demand.

FSL Research

I fully agree with the research done by Fortune Securities, good work. Buy call is well justified however do not think that the return is  guaranteed, its the view on the stock as of today.

Their report  (http://investorguide360.com/wp-content/uploads/2014/04/FSL-Research2.pdf) has used very conservative estimates of sales growth.
CAGR of 3.7% against actual average long term growth of 5.8% and 14% in booming economy.

In fact, in their projections, most of the increase in profitability is from de-leveraging.

So there is significant upside to their valuation over next 20-24 months as hopefully cement demand will finally increase

Other than that, I think they can pay 1 rupee dividend with this year's results.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: zakhan76 on April 23, 2014, 01:34:24 PM
Any news of their quarterly results announcement?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on April 23, 2014, 02:42:18 PM
1st quarter eps 1.76
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: zakhan76 on April 23, 2014, 03:18:35 PM
Thanks bro. I don't understand why this share's price is hovering around 30 when it worth more than 40.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on April 23, 2014, 04:01:06 PM
In coming days its price will improve and in my opinion this stock is equal to PIONC
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on April 23, 2014, 06:36:09 PM
In coming days its price will improve and in my opinion this stock is equal to PIONC
I bot and very bitter taste......ye nai chalta ;)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 23, 2014, 06:39:43 PM
In coming days its price will improve and in my opinion this stock is equal to PIONC
I bot and very bitter taste......ye nai chalta ;)
Mkt to saidi honein dain phir daikhein kaisay chalta hay.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on April 23, 2014, 06:43:25 PM
Agreed.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on April 23, 2014, 06:45:28 PM
In coming days its price will improve and in my opinion this stock is equal to PIONC
I bot and very bitter taste......ye nai chalta ;)
Mkt to saidi honein dain phir daikhein kaisay chalta hay.
chwal cement
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: captain javed on April 23, 2014, 06:47:05 PM
jab tak market seedhi ho gee loog otlay ho jain gay sir .
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 23, 2014, 06:59:54 PM
jab tak market seedhi ho gee loog otlay ho jain gay sir .
Dont worry goooooooooooooooooooooooooooooooooora hay na.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on April 23, 2014, 07:39:04 PM
MLCF: 9MFY14 EPS of Rs 4.57
Maple Leaf Cement (MLCF) announced 9MFY14 EPS of Rs4.57 as against Rs4.16 in the same period last year, up 10%.
During the period, MLCF’s topline grew by 9% to Rs13.8bn, mainly led by 14% rise in local cement prices.
Gross margins remained unchanged despite increase in electricity prices.
However, 15% decrease in finance cost allowed pretax profits to stand at Rs2.4bn, up 15% versus Rs2.1bn in 9MFY13.
In 3QFY14, the company reported EPS of Rs1.76 against Rs1.60 in 3QFY13, up 10%.

topline
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on April 24, 2014, 08:44:43 AM
Atleast it deserves 45-50.
But I has took a long way in moving upwards, may be because of 1) high debt 2) Management Saigol Group 3) Overall neutral activity in cement sector in the past 3 months
But very good share for long term.  :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: zakhan76 on April 24, 2014, 03:12:03 PM
You are right bro, this share is very good. I think it mainly has debt problem. Further banks did profit taking yesterday due to which market went down. :@
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on April 24, 2014, 07:01:55 PM
its tail of doggy........ye nahi chalnay wala :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on April 24, 2014, 07:21:31 PM
Why the share is not moving up:

I tried to find out the reasons, if it is PE 4 share, then why its not moving up. its highly liquid, it has potential to increase its earnings, debt is going down.

i found only one answer. The annualized earning as per last quarter result is about 7 rupees. this does not include any taxation charge.
so after tax current eps is about 4.55 that means pe of 6.7, which is fair.

however the company does not have to pay tax for another 18 months. during this time, reduction in finance cost would be more than 1 rupee per share and increase in earning due to improvement in capacity utilization can add another one rupee. these two factors will mitigate the impact of upcoming taxation. so effectively mlcf could still show eps of 7-8 .

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: zakhan76 on April 24, 2014, 08:08:21 PM
its tail of doggy........ye nahi chalnay wala :thumbsup_anim:

Sabir bhai, thorda sa sabar kar lein...insha-Allah yeh 40 cross kare ga....
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Market Wave on April 25, 2014, 04:19:51 PM
Going up..................Buhat day diya sabar ka imtehan............. :clap1: :thumbsup_anim: :biggthumpup:

its tail of doggy........ye nahi chalnay wala :thumbsup_anim:

Sabir bhai, thorda sa sabar kar lein...insha-Allah yeh 40 cross kare ga....
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on April 25, 2014, 05:01:42 PM
monster volumes :bigeyed:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 25, 2014, 07:05:40 PM
monster volumes :bigeyed:
Booooooooooooooooooooooooooooooooooooooooooo Hahahahahahahahahahahahahahahaha
Aj kafi loog otar gay hain is gari say. Aur jis nein otarna hay otar jia ta ka wazan halka ho aur pehlay paaroo bila kis rakavat paar ho jia.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on April 25, 2014, 07:41:35 PM
chalo phir 10k me nay b bechna hay at 39.99
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on April 25, 2014, 09:51:48 PM
seems very bullish and very solid share now.

Every quarter the company is repaying debt of about 700 million. Therefore after 12 months from now, the debt level would be around 11 bn only. Company has already reduced debt by about 5 bn during last two years.

Dividend would start hopefully this year and will increase year on year.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 25, 2014, 10:00:59 PM
seems very bullish and very solid share now.

Every quarter the company is repaying debt of about 700 million. Therefore after 12 months from now, the debt level would be around 11 bn only. Company has already reduced debt by about 5 bn during last two years.

Dividend would start hopefully this year and will increase year on year.
Zinda Baad Value Bhai: Bas thora tax say dar lugta hay k hamari hard earned income hi na khaa jia.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on April 26, 2014, 12:18:53 AM
seems very bullish and very solid share now.

Every quarter the company is repaying debt of about 700 million. Therefore after 12 months from now, the debt level would be around 11 bn only. Company has already reduced debt by about 5 bn during last two years.

Dividend would start hopefully this year and will increase year on year.
Zinda Baad Value Bhai: Bas thora tax say dar lugta hay k hamari hard earned income hi na khaa jia.

without risk there is nothing.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Farzooq on April 26, 2014, 11:19:05 AM
Resistance zone 31.5-32 if cleared it will target 36-38
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on April 27, 2014, 10:37:53 AM
Why the share is not moving up:

I tried to find out the reasons, if it is PE 4 share, then why its not moving up. its highly liquid, it has potential to increase its earnings, debt is going down.

i found only one answer. The annualized earning as per last quarter result is about 7 rupees. this does not include any taxation charge.
so after tax current eps is about 4.55 that means pe of 6.7, which is fair.

however the company does not have to pay tax for another 18 months. during this time, reduction in finance cost would be more than 1 rupee per share and increase in earning due to improvement in capacity utilization can add another one rupee. these two factors will mitigate the impact of upcoming taxation. so effectively mlcf could still show eps of 7-8 .
agreed
however it still has some unused capacity which can add further profits.
My key concern is cement demand.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 27, 2014, 10:42:37 AM
Why the share is not moving up:

I tried to find out the reasons, if it is PE 4 share, then why its not moving up. its highly liquid, it has potential to increase its earnings, debt is going down.

i found only one answer. The annualized earning as per last quarter result is about 7 rupees. this does not include any taxation charge.
so after tax current eps is about 4.55 that means pe of 6.7, which is fair.

however the company does not have to pay tax for another 18 months. during this time, reduction in finance cost would be more than 1 rupee per share and increase in earning due to improvement in capacity utilization can add another one rupee. these two factors will mitigate the impact of upcoming taxation. so effectively mlcf could still show eps of 7-8 .
agreed
however it still has some unused capacity which can add further profits.
My key concern is cement demand.
MLCF agar apnein growth say taxation factor ko mitigate kar lainta hay to phir is ki pawaz ko koi nahi rook pia ga.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on April 27, 2014, 10:29:45 PM
Why the share is not moving up:

I tried to find out the reasons, if it is PE 4 share, then why its not moving up. its highly liquid, it has potential to increase its earnings, debt is going down.

i found only one answer. The annualized earning as per last quarter result is about 7 rupees. this does not include any taxation charge.
so after tax current eps is about 4.55 that means pe of 6.7, which is fair.

however the company does not have to pay tax for another 18 months. during this time, reduction in finance cost would be more than 1 rupee per share and increase in earning due to improvement in capacity utilization can add another one rupee. these two factors will mitigate the impact of upcoming taxation. so effectively mlcf could still show eps of 7-8 .
agreed
however it still has some unused capacity which can add further profits.
My key concern is cement demand.
MLCF agar apnein growth say taxation factor ko mitigate kar lainta hay to phir is ki pawaz ko koi nahi rook pia ga.
Taxation would be mitigated by reduction in finance cost and increase in capacity

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on April 27, 2014, 10:33:46 PM
Why the share is not moving up:

I tried to find out the reasons, if it is PE 4 share, then why its not moving up. its highly liquid, it has potential to increase its earnings, debt is going down.

i found only one answer. The annualized earning as per last quarter result is about 7 rupees. this does not include any taxation charge.
so after tax current eps is about 4.55 that means pe of 6.7, which is fair.

however the company does not have to pay tax for another 18 months. during this time, reduction in finance cost would be more than 1 rupee per share and increase in earning due to improvement in capacity utilization can add another one rupee. these two factors will mitigate the impact of upcoming taxation. so effectively mlcf could still show eps of 7-8 .
agreed
however it still has some unused capacity which can add further profits.
My key concern is cement demand.
MLCF agar apnein growth say taxation factor ko mitigate kar lainta hay to phir is ki pawaz ko koi nahi rook pia ga.
Taxation would be mitigated by reduction in finance cost and increase in capacity

Value Bhai Insha Allah aisa hi hoga.
Pehlay ki tara, aik baar phir Mlcf ki call is Forum nein pehlay di aur ab baki Houses aur MF ko hoosh aa. rehay hay.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: EHM on April 28, 2014, 12:25:58 PM
is ko kya ho gya??

any news or just reacting to market sentiment?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: asim123 on April 28, 2014, 12:49:40 PM
is ko kya ho gya??

any news or just reacting to market sentiment?

just because of market
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Capricon83 on April 28, 2014, 01:34:27 PM
is ko kya ho gya??

any news or just reacting to market sentiment?

just because of market

DGKC Board Meeting on April 30 to consider Expansion Plans

http://www.kse.com.pk/notices-updates/detail2.php?0.222753151560037&id=4&nid=053952
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on April 30, 2014, 06:14:23 PM
http://www.kmlg.com/mlcfl_q3_mar_2014.pdf

0.75-1 dps looks possible with full year
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on May 02, 2014, 04:50:54 PM
http://www.kmlg.com/mlcfl_q3_mar_2014.pdf

0.75-1 dps looks possible with full year

very good rates to enter into this stock.

Target 40 by September
50 by december 2014
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on May 02, 2014, 05:04:53 PM
Good to buy on current level
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 08, 2014, 03:26:57 PM
manhoos chal bhi ja  :mad:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on May 08, 2014, 04:40:14 PM
manhoos chal bhi ja  :mad:

Dont worry Sbm bhai, wait for the next week. Abi future k contract mein kafi din baaki hain.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on May 08, 2014, 10:59:42 PM
manhoos chal bhi ja  :mad:

Dont worry Sbm bhai, wait for the next week. Abi future k contract mein kafi din baaki hain.

most cements are down, luck is 349 from 360, dg 86 from 93, lpcl as well.

there is huge selling in cements from funds
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Hassan Munir on May 09, 2014, 12:10:18 AM
manhoos chal bhi ja  :mad:

Dont worry Sbm bhai, wait for the next week. Abi future k contract mein kafi din baaki hain.

most cements are down, luck is 349 from 360, dg 86 from 93, lpcl as well.

there is huge selling in cements from funds

Keep buying in small chunks...
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Market Wave on May 14, 2014, 09:30:41 AM
MLCF is also one of the greatest option given options in sustainable earnings owing to better capacity utilization and ability to ward off deleveraging. We are in the process of full report in MLCF wherein we expect FY15 to be ultra significant in the context of earnings jump.

(Standard Capital Securities)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Nasirkhan88 on May 14, 2014, 09:32:47 AM
agreed.. With full year resuly in sight, MLCF  :confused1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on May 15, 2014, 09:03:05 PM
agreed.. With full year resuly in sight, MLCF  :confused1:

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on May 17, 2014, 10:51:07 AM
agreed.. With full year resuly in sight, MLCF  :confused1:

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

MLCF long term Debt as of

March 31-14: 9,795 million actual
June 30-2014: 8,595 Estimated
Sep 30-2014:  7,295     ''
Dec 31-2014: 6,200      '' (per share 11.764), One year Cash Profit, (approx 10 per share)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on May 17, 2014, 11:06:58 AM
agreed.. With full year resuly in sight, MLCF  :confused1:

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

MLCF long term Debt as of

March 31-14: 9,795 million actual
June 30-2014: 8,595 Estimated
Sep 30-2014:  7,295     ''
Dec 31-2014: 6,200      '' (per share 11.764), One year Cash Profit, (approx 10 per share)
Oper wala link nahi Kulta. Error daita hay aur bolta hay k ap ko permission nahi.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on May 17, 2014, 11:12:55 AM
agreed.. With full year resuly in sight, MLCF  :confused1:

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

MLCF long term Debt as of

March 31-14: 9,795 million actual
June 30-2014: 8,595 Estimated
Sep 30-2014:  7,295     ''
Dec 31-2014: 6,200      '' (per share 11.764), One year Cash Profit, (approx 10 per share)
Under perform ki b koi had hoti hay. I have not seen such a khassi pan fro MLCF before.  huhu huhu huhu
Next week isi apni khankah say nikal kar ada karni chahia. Warna!!!! :bangin: :bangin: :bangin:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Farzooq on May 17, 2014, 11:36:30 AM
agreed.. With full year resuly in sight, MLCF  :confused1:

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

MLCF long term Debt as of

March 31-14: 9,795 million actual
June 30-2014: 8,595 Estimated
Sep 30-2014:  7,295     ''
Dec 31-2014: 6,200      '' (per share 11.764), One year Cash Profit, (approx 10 per share)
Oper wala link nahi Kulta. Error daita hay aur bolta hay k ap ko permission nahi.

http://www.pacra.com/
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on May 17, 2014, 11:49:37 AM
agreed.. With full year resuly in sight, MLCF  :confused1:

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

MLCF long term Debt as of

March 31-14: 9,795 million actual
June 30-2014: 8,595 Estimated
Sep 30-2014:  7,295     ''
Dec 31-2014: 6,200      '' (per share 11.764), One year Cash Profit, (approx 10 per share)
Oper wala link nahi Kulta. Error daita hay aur bolta hay k ap ko permission nahi.

http://www.pacra.com/
Thanks Farzooq Bhai. Inti achi news/ upgrade ka b koi asar nahi hova is ki sehat pa. Bus ab is pa jo manhoos Sia ka asar ka toor karna paray ga. Is weekend pa ik ki Kaat karta hon.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on May 17, 2014, 12:39:07 PM
agreed.. With full year resuly in sight, MLCF  :confused1:

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

MLCF long term Debt as of

March 31-14: 9,795 million actual
June 30-2014: 8,595 Estimated
Sep 30-2014:  7,295     ''
Dec 31-2014: 6,200      '' (per share 11.764), One year Cash Profit, (approx 10 per share)
Oper wala link nahi Kulta. Error daita hay aur bolta hay k ap ko permission nahi.

http://www.pacra.com/
Thanks Farzooq Bhai. Inti achi news/ upgrade ka b koi asar nahi hova is ki sehat pa. Bus ab is pa jo manhoos Sia ka asar ka toor karna paray ga. Is weekend pa ik ki Kaat karta hon.

Chaly ga
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on May 17, 2014, 01:00:07 PM
Just a matter of time i guess .. now .. HOLD IT STRONG ..Expecting it to move soon..
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Farzooq on May 18, 2014, 11:26:40 PM
JSIL have purchased 35million shares of MLCF which was sold by KTML last month according to fund manager report
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 19, 2014, 09:29:38 AM
JSIL have purchased 35million shares of MLCF which was sold by KTML last month according to fund manager report

http://www.jsil.com/downloads/newsletter/FMR_JSIL_MAR_2014.pdf

http://www.jsil.com/downloads/newsletter/FMR_JSIL_APR_2014.pdf



Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 19, 2014, 09:42:23 AM
Highway wonders

May 19, 2014 BR Research 0 Comments E-mailPrintPDF
You thought that highways won    pay; may be think again. With a number of infrastructure and housing projects underway, positive spin-offs are beginning to emerge for those in the construction sector. And the externalities are not just confined to manufacturers core operations.

Recently, the Pakistan Credit Ratings Agency (Pacra)) up scaled the ratings of both long-term and short-term entities of Maple Leaf Cement Factory Limited (MLCFL). The former was upgraded to BBB from BB, while the latter was revised up to A3 from B+ previously. Similarly, rating on the companys Sukuk issue worth Rs8 billion has also improved from BB+ to BBB.

Improvements in the rating reflect lower credit risk and the companys ability to adequately oblige its financial commitments. Needless to say, a lot of that depends on sustained sales and the accruing margins.

For the sector as a whole, sales have been picking up and already hit the highest numbers during April this year. MLCFL has not been an exception, with its net sales growing by 8.6 percent during the nine-month period of the current fiscal year. However, the increase in revenue numbers is also attributable to the hike in price of cement witnessed during the year.

Greater utilisation of funds released for the Public Sector Development Programme (PSDP) has also propelled local dispatches of cement. Further, prioritisation of infrastructure in the upcoming PSDP, as has been recently announced by the Minister of Planning, Development and Reforms, is likely to keep the demand for cement buoyant.

MLCFLs focus on revamping business operations through achieving greater energy efficiency and improvements in supply-chain management have contributed to the credit rating upgrade. Higher cash flows from improved sales have been diverted towards repayment of long-term obligations.

However, ratings will remain dependent on demand and pricing dynamics in the sector. Another important factor will be the cost of energy, which can substantially affect revenues. The energy conundrum can also significantly affect credit ratings of major market players and, therefore, shake investor confidence in the country
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on May 20, 2014, 12:44:00 AM
Mlcf b ik share tha KSE mein  intakhab
Janta nein Kood ka isay veraan kar dia
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 20, 2014, 09:04:28 AM
Mlcf b ik share tha KSE mein  intakhab
Janta nein Kood ka isay veraan kar dia

 :( :down: :crying_anim02:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: RSI Fan on May 20, 2014, 09:52:54 AM
Mlcf b ik share tha KSE mein  intakhab
Janta nein Kood ka isay veraan kar dia

Itni tareefain nahi kerni thi na iski aapne....adha to iss forum ne khareeda hoga aur phir garee chaltay hee kudne lagte hain ...faint hearted... to garee doray kaisay  :bangin:  :bangin:  :bangin:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on May 27, 2014, 08:12:32 PM
Investment Summery…

We initiate our coverage on Maple Leaf Cement Factory Company Limited (MLCF) with BUY call based on Target Price of PKR47per share in FY15, translating into a holding period return of 57%. We anticipate EPS of PKR6.42 and PKR6.94 in FY14 and FY15 respectively. Further, we expect earning of the company to grow at 5-year CAGR of ~8%. The stock is trading at discounted P/E of 4.6x to the industry P/E of 8.2x.

Sector Drivers…

Positive economic outlook with GDP forecast of 5.1% is likely to boost local cement demand in FY15.

Government has budgeted improved PSDP of PKR 525bn for FY15 compared to revised number of  PKR425bn in FY14, up 24%. This increase in PSDP shows government intent to invest in infrastructure developed projects  such as Diamer Bhasha and Dhasu Hydropower projects, creating strong local cement demands.

Coal prices are expected to remain range bound amid sluggish demand from china.

MLCF Key Highlights…

MLCF is trading at PE ratio of  4.6x compared to industry average of 8.2x.
Deleveraging of MLCF’s balance sheet from Long Term Debt to Total Assets of 45% in FY10 to 31% in FY14, not only lowers finance cost but also provide space for future payouts.
 MLCF holds 80% market share of White Cement, which sells at premium price of PKR700 plus per bag.
Sources of Risk…

Adverse price movement of coal.
 Break-up of Price arrangement.
Government intervention directly or through taxes.

Summit Research
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on May 27, 2014, 10:30:02 PM
Investment Summery…

We initiate our coverage on Maple Leaf Cement Factory Company Limited (MLCF) with BUY call based on Target Price of PKR47per share in FY15, translating into a holding period return of 57%. We anticipate EPS of PKR6.42 and PKR6.94 in FY14 and FY15 respectively. Further, we expect earning of the company to grow at 5-year CAGR of ~8%. The stock is trading at discounted P/E of 4.6x to the industry P/E of 8.2x.

Sector Drivers…

Positive economic outlook with GDP forecast of 5.1% is likely to boost local cement demand in FY15.

Government has budgeted improved PSDP of PKR 525bn for FY15 compared to revised number of  PKR425bn in FY14, up 24%. This increase in PSDP shows government intent to invest in infrastructure developed projects  such as Diamer Bhasha and Dhasu Hydropower projects, creating strong local cement demands.

Coal prices are expected to remain range bound amid sluggish demand from china.

MLCF Key Highlights…

MLCF is trading at PE ratio of  4.6x compared to industry average of 8.2x.
Deleveraging of MLCF’s balance sheet from Long Term Debt to Total Assets of 45% in FY10 to 31% in FY14, not only lowers finance cost but also provide space for future payouts.
 MLCF holds 80% market share of White Cement, which sells at premium price of PKR700 plus per bag.
Sources of Risk…

Adverse price movement of coal.
 Break-up of Price arrangement.
Government intervention directly or through taxes.

Summit Research

how many brokerage houses are bullish on this stock, Fortune, JS, Summit, Standard Capital Securities, and may be some others.

so why this is not moving,

LPCL deal, when it will be finalized, before june 30 2014.

last date to submit bids june 6 13
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Market Wave on May 28, 2014, 12:39:32 PM
Consensus share. In Sha ALLAH will move soon.



how many brokerage houses are bullish on this stock, Fortune, JS, Summit, Standard Capital Securities, and may be some others.

so why this is not moving,

LPCL deal, when it will be finalized, before june 30 2014.

last date to submit bids june 6 13
[/quote]
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: arifjamal on May 29, 2014, 03:43:37 PM
mlcf or fccl par koi khaas asar nahi para is tezi ka
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Sharoze123 on May 29, 2014, 04:20:47 PM
They aren't index heavyweights like DG, LUCKY, Og, Pso, Engro e.t.c
So when big players are attempting to move the market this don't pay attention to such lower cap shares. MLCF will move when the entire cement sector moves and you shouldn't correlate it proportionately to the broader market index at large.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: arifjamal on May 29, 2014, 07:48:53 PM
They aren't index heavyweights like DG, LUCKY, Og, Pso, Engro e.t.c
So when big players are attempting to move the market this don't pay attention to such lower cap shares. MLCF will move when the entire cement sector moves and you shouldn't correlate it proportionately to the broader market index at large.
magar Sharoze123  bhai, jab market girti hay tub to yeh gir jaatay hain or barhnay main nahi barhtay kumbakht maaray
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Ali135 on May 29, 2014, 07:58:25 PM
They aren't index heavyweights like DG, LUCKY, Og, Pso, Engro e.t.c
So when big players are attempting to move the market this don't pay attention to such lower cap shares. MLCF will move when the entire cement sector moves and you shouldn't correlate it proportionately to the broader market index at large.
magar Sharoze123  bhai, jab market girti hay tub to yeh gir jaatay hain or barhnay main nahi barhtay kumbakht maaray
im in now. laooooo maaalllllllllllllllllllllllllllllll.  :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on May 30, 2014, 07:56:34 AM
in pakistani market, they people who buy and hold are few including the institutions.

Every body thinks that ok maple is undervalued but  let me trade in something else because mr. x and mr. y are buying it and its going to be capped today, i will look at maple when rally will start, still there is time.


Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: perfect on May 30, 2014, 09:07:16 AM
agreed. I think gun is now ready and we can fire any moment.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: arifjamal on May 30, 2014, 01:15:39 PM
yes waiting shuroo karo rally
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 30, 2014, 04:26:14 PM
kia manhoosiat chae hui hai ispar
 :mad:

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on May 30, 2014, 04:48:24 PM
kia manhoosiat chae hui hai ispar
 :mad:
Bought more today .. laoo maal
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sumbul on May 30, 2014, 04:53:43 PM
Yeah share qurbani maang raha hey  :[
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 30, 2014, 04:56:17 PM
kia manhoosiat chae hui hai ispar
 :mad:
Bought more today .. laoo maal


 :@

apnay leyliyae  ab kahan chalay ga
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Atif1 on May 30, 2014, 07:18:23 PM
Yeah share qurbani maang raha hey  :[

qurbani to dayne paray ge, who bhee junta ko :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on May 31, 2014, 01:17:58 AM
20 ropay kamany assan kaam nahi hein es share mein.

sohni kuri hay, nakhray tu dikhay gi.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umer on May 31, 2014, 01:44:13 AM
20 ropay kamany assan kaam nahi hein es share mein.

sohni kuri hay, nakhray tu dikhay gi.
One thing is sure it will never go like cap o cap suppose target is 47 or 50 or whatever till December. But no doubt script is strong I feel in this script (mlcf) day trader or short term holder always enjoyed more than a person who is having it for strong hold so I think when it will achieve rate of 33 to 35  half holding should be for sell at high and buy at low and half for long term. Most of cements like fccl fectc mlcf and long long list usually take dips with strategy of up and down then they achieve their high's. ( I think one should not get exit before 33 bcoz if it will sustain 33 it will not take a dip bcoz in 30 to 31 accumulation has been done a lot already).  Same strategy I did in fectc and saved my loss by selling it at 57+ and didn't wait for 60 and made 22 rs profit. I achieved my target of 52 and after that started short term trade and after 57 I completely left it and it dropped down to even 47 some days back which was again a good buy rate. Bus aik textile he dodgy sector ha wrna kuch trade tow humko bhe ate the  :down:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on May 31, 2014, 02:06:36 AM
yes, it provide good trading opportunity.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on May 31, 2014, 09:28:38 AM
Only my opinion: MLCF 20 par aa sakta hay lakin 50 pr nahi jaye ga..... :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Farzooq on May 31, 2014, 11:43:49 AM
Resistance zone 31.5-32 if cleared it will target 36-38

(http://i229.photobucket.com/albums/ee214/farzooq/mlcf_zpsdee2d043.png) (http://s229.photobucket.com/user/farzooq/media/mlcf_zpsdee2d043.png.html)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on May 31, 2014, 11:48:32 AM
Only my opinion: MLCF 20 par aa sakta hay lakin 50 pr nahi jaye ga..... :fingerscrossed1:

20 lagia na lagia, 40 zaroor laga daay ga :thumbsdown_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on May 31, 2014, 11:59:01 AM
1.5 rupees wala share( in 2011) 30 per sell kia jaa raha hay(2014)....what else funds need..... :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Ali135 on May 31, 2014, 12:19:28 PM
Only my opinion: MLCF 20 par aa sakta hay lakin 50 pr nahi jaye ga..... :fingerscrossed1:

20 lagia na lagia, 40 zaroor laga daay ga :thumbsdown_anim:

ye hoe na bat dehan bhai. now  :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on May 31, 2014, 12:54:47 PM
lets c.....
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: tac786 on May 31, 2014, 03:45:48 PM
1.5 rupees wala share( in 2011) 30 per sell kia jaa raha hay(2014)....what else funds need..... :thumbsup_anim:

mintus khaooo demagh ki batti jaloo  :bangin:

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umer on May 31, 2014, 04:21:51 PM
Only my opinion: MLCF 20 par aa sakta hay lakin 50 pr nahi jaye ga..... :fingerscrossed1:

1.5 rupees wala share( in 2011) 30 per sell kia jaa raha hay(2014)....what else funds need..... :thumbsup_anim:

Kohat cement Kohc 2012 mei only 8 rs ka tha but now at 118 rs. Apke logic per chala jayee tow script ko high hone se pehle he sell ker dia jayee at very low rate. Shubh Shubh ( Acha Acha ) bolo bhai Mlcf k lie. Every next qtr earning is increasing again. Plus big projects of Govt in line. like motorway like dams like metro servise new project. If I am not wrong cement he use hota hai wahan  :D . Tow bolo hamaray sath laoooooooooooooo MLCF 50.  :bangin:  :bangin:  :clap1:  :clap1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on May 31, 2014, 04:34:03 PM
jis din 50 hua tou baat kr len gay :tongue:
its mlcf, the chwal group
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Ali135 on May 31, 2014, 04:37:42 PM
jis din 50 hua tou baat kr len gay :tongue:
its mlcf, the chwal group

or ager 20 na hoa to kya kiya jaye janab aalam sb aap k sath wo b irshad farma dain.  :bangin:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umer on May 31, 2014, 05:12:40 PM
Only my opinion: MLCF 20 par aa sakta hay lakin 50 pr nahi jaye ga..... :fingerscrossed1:

1.5 rupees wala share( in 2011) 30 per sell kia jaa raha hay(2014)....what else funds need..... :thumbsup_anim:

Kohat cement Kohc 2012 mei only 8 rs ka tha but now at 118 rs. Apke logic per chala jayee tow script ko high hone se pehle he sell ker dia jayee at very low rate. Shubh Shubh ( Acha Acha ) bolo bhai Mlcf k lie. Every next qtr earning is increasing again. Plus big projects of Govt in line. like motorway like dams like metro servise new project. If I am not wrong cement he use hota hai wahan  :D . Tow bolo hamaray sath laoooooooooooooo MLCF 50.  :bangin:  :bangin:  :clap1:  :clap1:

jis din 50 hua tou baat kr len gay :tongue:
its mlcf, the chwal group

Ok theek hai us din he baat kraingay ab. But promise aap forum per aogay rate of 50 Daikhnay  :biggthumpup: to Congrats Holders  :D .
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Irfankhan on May 31, 2014, 06:07:23 PM
jis din 50 hua tou baat kr len gay :tongue:
its mlcf, the chwal group
Bhai jaan aap JSCL ko 40 ka bata rahay hain aur Maple ko 20 ka.
please read all brokers views as well as company growing sales and production for Maple and forward chances of growth.
JSCL hawa hay 10 uper aur 10 neechay jaisay JS Uncle chahain. :D :D :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hammad01 on May 31, 2014, 06:48:16 PM
MLCF has been a lackluster performer compared to other cement stocks for the last couple of years, despite evident and projected growth and profitability. I think things will improve for MLCF once it will start giving dividends. Having an ability to pay and actually paying it are two different things.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abid_ali on May 31, 2014, 06:56:22 PM
jis din 50 hua tou baat kr len gay :tongue:
its mlcf, the chwal group
Bhai you are so sure of 20,  than must short good quantity, many friends on fourm will love catch your short. Just advice on your views. Have good time
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Adnan on May 31, 2014, 07:03:18 PM
MLCF has been a lackluster performer compared to other cement stocks for the last couple of years, despite evident and projected growth and profitability. I think things will improve for MLCF once it will start giving dividends. Having an ability to pay and actually paying it are two different things.

For Dividend you have to wait for couple of more years. There will be no dividend this year or next year due to conditions imposed by lenders.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on May 31, 2014, 09:35:06 PM
Only my opinion: MLCF 20 par aa sakta hay lakin 50 pr nahi jaye ga..... :fingerscrossed1:
jis din 50 hua tou baat kr len gay :tongue:
its mlcf, the chwal group

If you have conviction in your opinion, trade accordingly.
I think sooner or later u will see 42-45
and i have bought reasonable amount of maple.
So you u short it.
Good luck :)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: m.omar on May 31, 2014, 11:05:56 PM
Who is this guy Sabir Hussain? Bhai if u say sonething give us proper reasoning
Not keh yeh share 2011 mein 1.5 Ka tha . This kind of talk looks ridiculas and I urge the adminstrator of the forum to keep the posts of such ppl in check
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on June 01, 2014, 09:26:50 AM
Who is this guy Sabir Hussain? Bhai if u say sonething give us proper reasoning
Not keh yeh share 2011 mein 1.5 Ka tha . This kind of talk looks ridiculas and I urge the adminstrator of the forum to keep the posts of such ppl in check
its my opinion.....itnay okahay honay ki kia zarrorat hay....
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: m.omar on June 01, 2014, 09:52:01 AM
U r right mate no offence it's better and more helpful if when we give opinions we need fundamental opinions as to how and why we derive to the conclusion.
I would appreciate if u could elaborate on basis as to how and why u r of the opinion as to maple should b 20.
That's all my friend
Tc
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on June 01, 2014, 10:11:39 AM
maple leaf group is chwal.....the only reason
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: m.omar on June 01, 2014, 10:23:08 AM
U r right I don't like them either its the last group I'd like to put my money in
But that aside it could b a good gola opportunity any time soon
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on June 01, 2014, 11:07:29 AM
paisa lgana hay tou buy:
MARI
PICT
JSCL
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Ali135 on June 01, 2014, 12:28:18 PM
paisa lgana hay tou buy:
MARI
PICT
JSCL
is market mai sab say bara chor to js hai. lehaza aap ki is theory ko js pay apply kerain to aap k 40, 42 and 44 walay fatway ghalat hoy na phir. be logical aalam sb, is say pehlay b apka account esi hi chawlain marnay pay ban hoa tha, so stop this bullshit.  uuu uuu uuu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: m.omar on June 01, 2014, 01:23:07 PM
Good point
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Abid_ali on June 01, 2014, 05:38:25 PM
paisa lgana hay tou buy:
MARI
PICT
JSCL
        Pl beware JSCL belongs to DAKKO group, so CHOR is less harmful
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on June 01, 2014, 06:42:57 PM
paisa lgana hay tou buy:
MARI
PICT
JSCL
is market mai sab say bara chor to js hai. lehaza aap ki is theory ko js pay apply kerain to aap k 40, 42 and 44 walay fatway ghalat hoy na phir. be logical aalam sb, is say pehlay b apka account esi hi chawlain marnay pay ban hoa tha, so stop this bullshit.  uuu uuu uuu
:@
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on June 01, 2014, 06:59:06 PM
paisa lgana hay tou buy:
MARI
PICT
JSCL
is market mai sab say bara chor to js hai. lehaza aap ki is theory ko js pay apply kerain to aap k 40, 42 and 44 walay fatway ghalat hoy na phir. be logical aalam sb, is say pehlay b apka account esi hi chawlain marnay pay ban hoa tha, so stop this bullshit.  uuu uuu uuu
:@
Chalo aik baat to achi hoi is debate say k Mlcf ki thread mein to halchal ho gai. This will now lead to a rally in the mkt as well. Insha Allah.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: dr.muhammad zia on June 01, 2014, 08:56:47 PM
 :biggthumpup:

larro nahin bahyioo is forum se har kisi ki advice per har koi kamaata zarror ..iss forum par sincere advice hi di jate hai ..but insaan ko khud bhi research karni chahyee aur kisi ko blame nahin karna chahye
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on June 02, 2014, 08:34:01 AM
Adminstrator! pls delete this insulting post by Mr. Ali.......as per forum rules
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on June 02, 2014, 11:42:53 AM
paisa lgana hay tou buy:
MARI
PICT
JSCL
is market mai sab say bara chor to js hai. lehaza aap ki is theory ko js pay apply kerain to aap k 40, 42 and 44 walay fatway ghalat hoy na phir. be logical aalam sb, is say pehlay b apka account esi hi chawlain marnay pay ban hoa tha, so stop this bullshit.  uuu uuu uuu
:@
Chalo aik baat to achi hoi is debate say k Mlcf ki thread mein to halchal ho gai. This will now lead to a rally in the mkt as well. Insha Allah.
:dance :dance :dance :shoaby: :shoaby: :shoaby: :clap1: :clap1: :clap1: :thumbsup_anim: :thumbsup_anim: :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on June 02, 2014, 12:06:00 PM
paisa lgana hay tou buy:
MARI
PICT
JSCL
is market mai sab say bara chor to js hai. lehaza aap ki is theory ko js pay apply kerain to aap k 40, 42 and 44 walay fatway ghalat hoy na phir. be logical aalam sb, is say pehlay b apka account esi hi chawlain marnay pay ban hoa tha, so stop this bullshit.  uuu uuu uuu
:@
Chalo aik baat to achi hoi is debate say k Mlcf ki thread mein to halchal ho gai. This will now lead to a rally in the mkt as well. Insha Allah.
:dance :dance :dance :shoaby: :shoaby: :shoaby: :clap1: :clap1: :clap1: :thumbsup_anim: :thumbsup_anim: :thumbsup_anim:
aaj hi 50 lga gya...wow :$:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Ali135 on June 02, 2014, 12:39:38 PM
paisa lgana hay tou buy:
MARI
PICT
JSCL
is market mai sab say bara chor to js hai. lehaza aap ki is theory ko js pay apply kerain to aap k 40, 42 and 44 walay fatway ghalat hoy na phir. be logical aalam sb, is say pehlay b apka account esi hi chawlain marnay pay ban hoa tha, so stop this bullshit.  uuu uuu uuu
:@
Chalo aik baat to achi hoi is debate say k Mlcf ki thread mein to halchal ho gai. This will now lead to a rally in the mkt as well. Insha Allah.
:dance :dance :dance :shoaby: :shoaby: :shoaby: :clap1: :clap1: :clap1: :thumbsup_anim: :thumbsup_anim: :thumbsup_anim:
aaj hi 50 lga gya...wow :$:
:bangin: :bangin: uuu uuu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stockz_123 on June 03, 2014, 12:21:41 PM
Maple Leaf Cement - Cash Machine!! TP Rs 40 ~ Detailed report

MLCF Triggers

·        We maintain BUY: We maintain our coverage on MLCF as one of the efficient cement manufacturer in Pakistan, with a BUY rating and a potential target price of Rs. 40 with attractive PE of 4.8x and 4.3x in FY14 and FY15.

·        Augmented Cash Flows:  Consistent increase in sales and better working capital techniques resulting surplus cash for MLCF in the coming years and we believe that MLCF's cash reserves will reach Rs. 551 mn along with accumulated profits of Rs. 6.7 bn by the end of FY15.

·        Early Repayment of Debts: augmented cash flows allow MLCF to early repayments of legacy debts. In FY14 MLCF has repaid a major portion of debt long term debt.

SCS
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on June 04, 2014, 04:12:02 PM
?
"The govt. has introduced Alternate Corporate Tax (ACT) at 17% of accounting income (excluding the exempt income) to discourage perpetual declaration
of losses or very low income. The companies shall have to pay ACT or corporate tax whichever is higher, however ACT paid is proposed to be carried
forward up to 10 years."

Is this applicable on maple ? i think so  :down:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on June 04, 2014, 04:23:50 PM
?
Customs duty on petroleum coke not-calcined is decreased to 1% from 5% to reduce input costs for
manufacturing concerns.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Nousherwan on June 05, 2014, 08:10:07 PM
?
"The govt. has introduced Alternate Corporate Tax (ACT) at 17% of accounting income (excluding the exempt income) to discourage perpetual declaration
of losses or very low income. The companies shall have to pay ACT or corporate tax whichever is higher, however ACT paid is proposed to be carried
forward up to 10 years."

Is this applicable on maple ? i think so  :down:

 :ohmy: :( Is this why Houses are giving 40 TP. ????
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: perfect on June 05, 2014, 10:40:17 PM
When public sold it then we can see its flight towards Rs.45/-
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: arifjamal on June 06, 2014, 11:08:17 AM
waiting for flight
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: rana27 on June 06, 2014, 11:16:01 PM
waiting for flight
I'll buy 20K on Monday for result and may be dividend
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Sharoze123 on June 07, 2014, 02:00:36 AM
waiting for flight
I'll buy 20K on Monday for result and may be dividend


At max there will will be dividend of one rupee(that too is debatable), at a buying price of 31/share that's a yield of around 3%. Although I believe there's a good chance of significant capital appreciation.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: captain javed on June 07, 2014, 09:32:50 AM
wah 45 Shukkar hai ap ny 450 nahee kaha.app waqaee perfect hain mr.perfect but hth zara hola rakhain .is ko is ki oqat yahnee 3
29-32 mai rahany dain to app ki maharbani ho gee.hope I m clear
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stock addicted on June 08, 2014, 04:31:35 PM
and the countdown begins is 10 day maple at 35
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on June 08, 2014, 04:43:19 PM
In sha ALLAH before end of next week 35
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on June 08, 2014, 06:34:10 PM
InshAllah
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ksenewb on June 08, 2014, 10:00:36 PM
KS khushi mai 35????
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: rana27 on June 08, 2014, 11:31:41 PM
Budget meiN development infrastructure k liye buht kutch hay. U can see rise in FCCLn institutional buying in it, MLCF has better earnings and the only white cement producer, it will definately get benefit from development budget, cement sale already up by 8 %. Better out look ,time will tell actual position.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: arifjamal on June 10, 2014, 11:06:35 AM
Railway signs agreement with mlcf to supply its cement to KARACHI
BR News
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on June 10, 2014, 11:18:42 AM
http://e.jang.com.pk/06-10-2014/lahore/pic.asp?picname=05_18.gif
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hasnain0099 on June 11, 2014, 03:36:49 AM
PR, Maple Leaf ink pact for cement transportation
LAHORE - Pakistan Railways has signed an agreement with Maple Leaf to transport cement of the company from Daud Khel to Karachi.
Railways GM (Operations) Anjum Pervaiz and Maple Leaf representative Saeed Sehgal signed the agreement at PR Headquarters here on Monday. Railways Minister Khwaja Saad Rafique was also present on the occasion.
Initially, the agreement has been signed for a period of three years and Maple Leaf would deposit security of Rs650 million. The freight trains utilised for carrying cement would bring coal on the way back from the port city and provide to different power plants in Punjab and Sindh, said a statement issued by PR.
Speaking on the occasion, the minister said they would soon purchase 75 locomotives and 75 percent among them would be utilised for freight operations.
He said the supply of coal to Sahiwal would start after two and half years. He also condemned the Karachi airport attack, terming it as an attack on the country’s economy. Saeed Seghal said that they decided to sign the agreement after witnessing improvement in Pakistan Railways.
Earlier, the minister presided over a meeting with NESPAK, discussing modernisation and up-gradation of Peshawar, Sahiwal, Okara and Narowal Railway Stations. Another meeting on Kashmir Railways was also chaired by the minister and attended by the Railways BoD. The meeting discussed the proposed Islamabad-Murree-Muzaffarabad Rail Link Project.
Furthermore, the railway management, in a letter to Awami Muslim League (AML) Sheikh Rasheed, has refused to provide a single coach for his proposed train march on June 20. “We cannot provide a single coach to the AML march because the other passengers in the train will have to face delay, instead the railways can facilitate Sheikh Rasheed with a special train in exchange of total expenditure,” read the letter. Sheikh Rasheed has been requested to send his representative to discuss the further details with the department in this regard.
This is worth mentioning that Sheikh Rasheed announced a train march from Rawalpindi to Lahore on June 20 to record his protest against the PML-N government.
http://defence.pk/threads/pr-maple-leaf-ink-pact-for-cement-transportation.318416/
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stock addicted on June 11, 2014, 09:49:35 AM
here we goooo  :dance :dance
and the countdown begins is 10 day maple at 35

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: captain javed on June 11, 2014, 05:24:47 PM
yah 33 pay bhee chala jaya in month mai to nafal adda karna  :skeptic:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: CanBull on June 11, 2014, 09:03:15 PM
yah 33 pay bhee chala jaya in month mai to nafal adda karna  :skeptic:
Why are you desperate for short selling.  :tongue: Ready to book your loss. It will move >>>>
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: perfect on June 11, 2014, 09:10:05 PM
Closing at or above 32.60 may move it to Rs.37 within days Inn Shaa Allah.
 :fingerscrossed1: :fingerscrossed1: :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Daftari on June 12, 2014, 03:00:40 PM
Volumes in MLCF are by far one of the best, amongst leaders on volume basis regularly. A strong supply keeps demand fulfilled and hence we only see small price moves. I am wondering why the market is taking so long to price in some value.  :confused1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: captain javed on June 12, 2014, 09:14:21 PM
seedhi si bat hai neechay artifical support laga kay publicko 31.50-32 pay maal diya ja raha hai . jab funds appni selling complete kar lain gay tab is ko otha kay neechay marain gay . dheektay jain :) :skeptic:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on June 12, 2014, 09:24:56 PM
seedhi si bat hai neechay artifical support laga kay publicko 31.50-32 pay maal diya ja raha hai . jab funds appni selling complete kar lain gay tab is ko otha kay neechay marain gay . dheektay jain :) :skeptic:

Looking at the history of the stock, your skepticism is right however there are lot of positives which has to be priced in.

Funds are also humans and they do not make right decisions every time. They do suffer losses.

FCCL example is in front of us. Fauji Foundation who control the company and knows ins and out of it, sold may be over 200 million shares in the open market at 7 and after 6 months it hit 17.


Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on June 12, 2014, 10:17:17 PM
yah 33 pay bhee chala jaya in month mai to nafal adda karna  :skeptic:
ye nahi chalta ab!!!!!!!!!!!!!!!!!
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: perfect on June 12, 2014, 10:21:17 PM
All game in the players hand. Big big accumulation.  When public sold it then it runs like a bullet.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on June 12, 2014, 10:26:49 PM
All game in the players hand. Big big accumulation.  When public sold it then it runs like a bullet.
chalnay hota tou chal chukka hota ab tk.....
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on June 12, 2014, 11:13:32 PM
All game in the players hand. Big big accumulation.  When public sold it then it runs like a bullet.
chalnay hota tou chal chukka hota ab tk.....

u hv shit dehan plz shut up
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: myfahim on June 12, 2014, 11:29:07 PM
All game in the players hand. Big big accumulation.  When public sold it then it runs like a bullet.
chalnay hota tou chal chukka hota ab tk.....

u hv shit dehan plz shut up

What kind of language U are using. Please mind your language. Everyone has his dehan and it might with others.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on June 13, 2014, 12:16:13 AM
Jub share positive ha to dehan bhi positive rakhain sub
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on June 13, 2014, 12:21:54 AM
All game in the players hand. Big big accumulation.  When public sold it then it runs like a bullet.
chalnay hota tou chal chukka hota ab tk.....

u hv shit dehan plz shut up
Yehi to hay baat achi Mlcf ki k ye Gari pay charnein aur otarnein ka moka baar baar daita hay. Aik hi simat mein safar nahi karta.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on June 13, 2014, 12:50:35 AM
There r 2 types of fear,
-fear of unknown when u r uncertain
-fear of missed oppurtunity when u know its an oppurtunity
, try to work out whether u belong to category 1 or category 2, there will b immediate 50%reduction in your mlcf related worry :rtfm:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: apple on June 13, 2014, 11:05:37 AM
Funds Holding as of May-14 in different cement companies is as follows

                           Rs (000)
KOHC                  509,345
MLCF                   885,592
PIOC                   151,280
FECTC                  NIL
CHCC                   NIL
FCCL                    355,469
LPCL                      31,758

Now one can compare MLCF figures with others and can judge that funds holding in MLCF is greater than any other cement company. It is being kept low intentionally to get maal from individuals as individuals were holding around 22.89% of total stock as per annual report 2013.

Funds are famous for their notorious plays and one can recall such game in LPCL when it was trading below 6 and it was continuously beaten down for months for accumulation.

We all know that MLCF is a "Value Scrip" but currently its value is not realized by the market participants (Big B's) intentionally. I hope sooner it will move to its fair value in sha Allah, as there is always opportunity cost connected with anyone's holding. 

Paiwasta Rah Shaja Say Umeeday Bhaar Rakh ...  :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: waqasmujahid on June 13, 2014, 11:30:33 AM
Fully agreed. Jab isne junps marni hy to 45 dour nahi hoga IA
Just wait till July-August
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umer on June 13, 2014, 11:38:20 AM
yah 33 pay bhee chala jaya in month mai to nafal adda karna  :skeptic:
ye nahi chalta ab!!!!!!!!!!!!!!!!!
Sabir Hussain kiyun krab krtay ho MLCF ke reputation. I doubt you heavily booked loss in MLCF you bought at 33 and stuck in it and sold it near 22 last year when it made good rally and took a dip and you just showing your anger just bcoz of your loss. Now it will again show a good rally INSHALLAH. So plz keep your assumptions with you only and don't share it on thread. I doubt bcoz of your this act many holders will offload and they will not able to see gain/profit just bcoz of you.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on June 13, 2014, 11:52:05 AM
"koi pathar say  na maray meray deewanay ko",

Lafarge deal which is supposed to happen before june 30-2014 will have major implications for cement sector and for lafarge in the short term. 


Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: zakhan76 on June 18, 2014, 12:21:09 PM
"koi pathar say  na maray meray deewanay ko",

Lafarge deal which is supposed to happen before june 30-2014 will have major implications for cement sector and for lafarge in the short term. 




Salam, sirjee please throw some light on the "Implications". JazakAllah
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on June 25, 2014, 03:33:14 PM
yah 33 pay bhee chala jaya in month mai to nafal adda karna  :skeptic:
ye nahi chalta ab!!!!!!!!!!!!!!!!!
Sabir Hussain kiyun krab krtay ho MLCF ke reputation. I doubt you heavily booked loss in MLCF you bought at 33 and stuck in it and sold it near 22 last year when it made good rally and took a dip and you just showing your anger just bcoz of your loss. Now it will again show a good rally INSHALLAH. So plz keep your assumptions with you only and don't share it on thread. I doubt bcoz of your this act many holders will offload and they will not able to see gain/profit just bcoz of you.
:console:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on June 25, 2014, 03:34:34 PM
hold tight Mr umer.....tightttttttttttttttttttttt :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on June 25, 2014, 03:40:09 PM
dear holders meri wja say loss book na krna bahi......umer bahi gwah rehna... :good
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umer on June 25, 2014, 04:19:17 PM
dear holders meri wja say loss book na krna bahi......umer bahi gwah rehna... :good
Hum bhe MLCF chala ker he rhenge phir  :bangin:  :bangin:  :bangin: . 40 bhe kraingay and 45 + bhe ( MLCF ko time dow summer end k badh bat krna week week badh shoor machana achee bat nhe).  uuu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: pieyomie on June 25, 2014, 04:31:38 PM
dear holders meri wja say loss book na krna bahi......umer bahi gwah rehna... :good
Hum bhe MLCF chala ker he rhenge phir  :bangin:  :bangin:  :bangin: . 40 bhe kraingay and 45 + bhe ( MLCF ko time dow summer end k badh bat krna week week badh shoor machana achee bat nhe).  uuu

Below 29 k candidates b hain yahan per lenay k liye. :tongue: Bad main 40 b karwana umer, pehle aik bar khareed tu lene do theek se.  :tongue:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umer on June 25, 2014, 10:00:56 PM
dear holders meri wja say loss book na krna bahi......umer bahi gwah rehna... :good
Hum bhe MLCF chala ker he rhenge phir  :bangin:  :bangin:  :bangin: . 40 bhe kraingay and 45 + bhe ( MLCF ko time dow summer end k badh bat krna week week badh shoor machana achee bat nhe).  uuu

Below 29 k candidates b hain yahan per lenay k liye. :tongue: Bad main 40 b karwana umer, pehle aik bar khareed tu lene do theek se.  :tongue:
Pioeyomie bai yeh bhala btanay ke bat hai mujhe tow pta hota hai  :D ap ko tow woh special buy rate chaye jo kisi k pass bhe na ho  :D  :D  :D .
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stockz_123 on June 27, 2014, 03:47:33 PM
AKD Daily

 

MLCF: Corporate Access Key Takeaways

AKD Securities Limited organized a corporate briefing with the management of Maple Leaf Cement Limited (MLCF) for investors yesterday, in which the management discussed the strategy and future plans of the company. MLCF is currently focusing on a mix of cost and risk minimization where the company is considering various options to reduce power and transportation costs as well as reducing exposure to individual distributors by switching to a large network of dealers, therefore, effectively reducing the bargaining power of dealers. The scrip currently trade at an FY14F PE of 4.9x which is a sharp discount to the FY14F market P/E of 8.9x. Following are the key takeaways of AKD Corporate Access.

Demand:  With a business friendly government at the helms, the company expects demand from the local side to remain on the rising trend due to increased economic activity resulting in heavy infrastructure development led by both the public and private sector. In this regard, the company expects a minimum of 5% growth in local cement dispatches. However, we at AKD Securities believe that dispatches may increase by 7% to 8% once the heavy infrastructure development projects kick in.                     .

Reducing dependence on distributors: The company originally had a distributor network which comprised of only four distributors allowing them significant bargaining power in the case of a slowdown in demand. In this case distributors were in a position demand lower  ex-factory prices in order to maintain their own margins in the low demand/high supply scenario. The company now has a network of ~450 dealers which has not only significantly reduced receivables per dealer but have also resulted in lower bargaining power of the dealers. This strategy is also likely to come in handy in the event of a price war where the availability of a large dealer network will allow the company to potentially squeeze dealer margins resulting in lower bottomline impact than implied by the decline in retail prices.

Plans on reducing fuel and power costs: The management stressed the company's high EBITDA margins within the industry which have been led by reduction in energy costs, through generation on WHR and Gas in addition to the electricity available from WAPDA. Keeping the rising costs in mind, the company’s long term plans also include a potential investment in a coal based captive power plant of upto 20MW. Moreover, utilization of Pet Coke which has a higher heating value than coal has allowed the company to reduce dependence on coal. In order to reduce transportation costs for coal transportation from port to the plant the company has signed a 5 year contract with Pakistan Railways to for the transportation of 28,000 tons of coal per month from Karachi to the plant as well as 22,000 tons per month for the transportation of cement from the plant to Karachi for exports via sea. This will allow the company to reduce inland freight.

Deleveraging: The company is continuously in the process of reducing its leverage position which in effect will reduce the financial burden on the company. In this regard, the company is likely to accelerate debt repayment to reduce leverage over the coming years. Furthermore, reduction in leverage also provide room for the company to increase its balance sheet size.

Investor Perspective: MLCF has increased by 4.6% CYTD as opposed to the cement space, which has increased by 21% and currently trades at an FY14F P/E of 4.96x (based on annualized earnings for FY14) as against AKD cement universe P/E of 10.1x. Going forward, we believe the discount should narrow in the long run as the company continues to deleverage and reduce its costs.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on June 27, 2014, 04:32:32 PM
 :bangin: :bangin: :bangin:

samajh say bahir hay yeah company.

every one is bullish but share price is declining.

PTI walo ko batao.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aalam on June 27, 2014, 04:34:19 PM
:bangin: :bangin: :bangin:

samajh say bahir hay yeah company.

every one is bullish but share price is declining.

PTI walo ko batao.
:D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on June 28, 2014, 12:01:48 PM
:bangin: :bangin: :bangin:

samajh say bahir hay yeah company.

every one is bullish but share price is declining.

PTI walo ko batao.

holding for 108 days in futures. waat laggae hai
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Kashif.toufiq on June 28, 2014, 12:09:57 PM
:bangin: :bangin: :bangin:

samajh say bahir hay yeah company.

every one is bullish but share price is declining.

PTI walo ko batao.

Let the MF start buying , first choice going to be MLCF.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Loto or Photo on June 28, 2014, 12:59:37 PM
:bangin: :bangin: :bangin:

samajh say bahir hay yeah company.

every one is bullish but share price is declining.

PTI walo ko batao.

Let the MF start buying , first choice going to be MLCF.

mera khial hay company tired ho gai hay
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on June 28, 2014, 01:23:10 PM
45 target is intact.
Lets see.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Loto or Photo on June 28, 2014, 01:24:45 PM
45 target is intact.
Lets see.

kab tak any time frame ?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on June 28, 2014, 01:43:31 PM
time frame was june 2014, so actual target failed because time is money.
Next time frame june 2015.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umer on June 28, 2014, 02:01:10 PM
I think atleast sep to oct 2014 we should wait must. ( Half holding for day trading can also be a good thing for some time to time gains as it always gives opportunity for day trading 2-3 times a week for gola ) .
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: m.omar on June 28, 2014, 09:39:14 PM
I think maple leaf is another pakgen power and all members of this forum should know what I mean.
It means that even if u think it can go to 40 still better to ignore this item cu z there r 800 companies and thus 800 other options to put ure money and better to stay away from mlcf until lit starts giving dividends

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on June 28, 2014, 11:57:36 PM
I think maple leaf is another pakgen power and all members of this forum should know what I mean.
It means that even if u think it can go to 40 still better to ignore this item cu z there r 800 companies and thus 800 other options to put ure money and better to stay away from mlcf until lit starts giving dividends

http://www.reuters.com/finance/stocks/chart?symbol=MPLF.KA (see last 2 years chart)

http://www.reuters.com/finance/stocks/chart?symbol=PKPL.KA ( compare it with mlcf)


if i look at last 2 months  of data, i must say you are right as there is no price movement.

However if i see last two years of data, i find a different answer. A stock cannot go up every day, every week or every  month.

If I see PKGP performance amongst its peers its extremely poor but if i see maple performance amongst its peers, its very good not only stock performance but also the company operational performance.

Now why the stock is not moving:

lafarge deal is one of the most important factor. It has important repercussions particularly on mid tier highly leveraged stocks as their ability to survive the price war is low as they have to pay back money to the lenders and money can be paid only if u are making a profit. if you dont pay, lender declare a default and start the legal action.

Next week is the deadline for lafarge, if it is done and there is no regulatory issue,

Then it would be a question who is the acquirer. If the acquirer is dgkc, all problem resolved. in case of any other company, than there would be another risk of price war as DG may announce expansion which could be followed by other companies.  Although cement companies do not envisage a price cut but stock market is very sensitive and can take a hit.  so wait for the next week. After that it will either go up and go down. this was expected during start of june however due to delay in due diligence by the cement companies of lafarge plant and delay in arrangement of financing, the bidder requested for extension in date of bid submission.   now all the ocmpanies have submitted bids which lafarge controlling shareholder is evaluating and will sign the binding agreement with the succesful bidder.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Kashif.toufiq on June 29, 2014, 12:21:52 AM
Year end EPS around 6.5-6.6 , chances of .5-1 rs dividend
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: m.omar on June 29, 2014, 01:46:44 AM
I think maple leaf is another pakgen power and all members of this forum should know what I mean.
It means that even if u think it can go to 40 still better to ignore this item cu z there r 800 companies and thus 800 other options to put ure money and better to stay away from mlcf until lit starts giving dividends

http://www.reuters.com/finance/stocks/chart?symbol=MPLF.KA (see last 2 years chart)

http://www.reuters.com/finance/stocks/chart?symbol=PKPL.KA ( compare it with mlcf)


if i look at last 2 months  of data, i must say you are right as there is no price movement.

However if i see last two years of data, i find a different answer. A stock cannot go up every day, every week or every  month.

If I see PKGP performance amongst its peers its extremely poor but if i see maple performance amongst its peers, its very good not only stock performance but also the company operational performance.

Now why the stock is not moving:

lafarge deal is one of the most important factor. It has important repercussions particularly on mid tier highly leveraged stocks as their ability to survive the price war is low as they have to pay back money to the lenders and money can be paid only if u are making a profit. if you dont pay, lender declare a default and start the legal action.

Next week is the deadline for lafarge, if it is done and there is no regulatory issue,

Then it would be a question who is the acquirer. If the acquirer is dgkc, all problem resolved. in case of any other company, than there would be another risk of price war as DG may announce expansion which could be followed by other companies.  Although cement companies do not envisage a price cut but stock market is very sensitive and can take a hit.  so wait for the next week. After that it will either go up and go down. this was expected during start of june however due to delay in due diligence by the cement companies of lafarge plant and delay in arrangement of financing, the bidder requested for extension in date of bid submission.   now all the ocmpanies have submitted bids which lafarge controlling shareholder is evaluating and will sign the binding agreement with the succesful bidder.


I think maple leaf is another pakgen power and all members of this forum should know what I mean.
It means that even if u think it can go to 40 still better to ignore this item cu z there r 800 companies and thus 800 other options to put ure money and better to stay away from mlcf until lit starts giving dividends

http://www.reuters.com/finance/stocks/chart?symbol=MPLF.KA (see last 2 years chart)

http://www.reuters.com/finance/stocks/chart?symbol=PKPL.KA ( compare it with mlcf)


if i look at last 2 months  of data, i must say you are right as there is no price movement.

However if i see last two years of data, i find a different answer. A stock cannot go up every day, every week or every  month.

If I see PKGP performance amongst its peers its extremely poor but if i see maple performance amongst its peers, its very good not only stock performance but also the company operational performance.

Now why the stock is not moving:

lafarge deal is one of the most important factor. It has important repercussions particularly on mid tier highly leveraged stocks as their ability to survive the price war is low as they have to pay back money to the lenders and money can be paid only if u are making a profit. if you dont pay, lender declare a default and start the legal action.

Next week is the deadline for lafarge, if it is done and there is no regulatory issue,

Then it would be a question who is the acquirer. If the acquirer is dgkc, all problem resolved. in case of any other company, than there would be another risk of price war as DG may announce expansion which could be followed by other companies.  Although cement companies do not envisage a price cut but stock market is very sensitive and can take a hit.  so wait for the next week. After that it will either go up and go down. this was expected during start of june however due to delay in due diligence by the cement companies of lafarge plant and delay in arrangement of financing, the bidder requested for extension in date of bid submission.   now all the ocmpanies have submitted bids which lafarge controlling shareholder is evaluating and will sign the binding agreement with the succesful bidder.


Tks for the explanation in detail, I agree that pkgp and mlcf r different when u look at their charts for the last 2 years and very possibly after clarity on lpcl deal mlcf could move if price concerns go away but since the last 5 months or so a person holding mlcf would b frustrated like anything especially when u look at kohat, pioneer, fccl or any other item in the market and it will shatter an investors confidence after the trade and as we all know confidence is the most important thing in investing
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: tac786 on June 29, 2014, 07:28:58 AM
:bangin: :bangin: :bangin:

samajh say bahir hay yeah company.

every one is bullish but share price is declining.

PTI walo ko batao.

Let the MF start buying , first choice going to be MLCF.

mera khial hay company tired ho gai hay

jab tak lpcl chal raha hain ye asie he chaley ga lpcl ki bd final ho jae us k baad hi no ana hain kyun k donnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn ko pakrna mushkil he nahin na mumkin han  :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on July 03, 2014, 03:09:12 PM
The Bell
 
MLCF: Pakistan Railway agreement to be value accretive

Agreement with PR to bring down coal transport costs
MLCF has recently signed a contract with Pakistan Railways (PR) to transport coal from Karachi Port to its cement factory located in Mianwali. As per management, the company will be able to realize effective transport cost of PKR2,400/ton, leading to a hefty 40% reduction in coal procurement cost. We estimate earnings impact of ~PKR1.0/0.9 for FY15/16 respectively.
GIDC hike to have marginal impact
The GoP has finalized new rates of Gas Infrastructure Development Cess (GIDC) to be applicable from July 1, 2014. GIDC on captive power plants have been increased from PKR100/mmbtu to PKR200/mmbtu. This will have marginal impact of ~PKR1/bag for MLCF.
Estimates revised upwards; maintain HOLD
After incorporating cost savings emanating from the Pakistan Railway agreement and factoring in hike in GIDC, we revise up our FY15/16 earnings expectation to PKR8.8/8.6 per share (up by 11/10% relative to earlier estimates) respectively. Consequently, we raise our Dec-14 PT to PKR 31/sh (up 7%). The stock currently offers potential upside of 3% at last closing. We maintain HOLD.

elixir
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on July 03, 2014, 03:31:33 PM
MLCF – FY14 EPS to register at PKR 6.58

Maple Leaf Cement Factory (MLCF) is expected to post earnings of PKR 3,470mn (EPS: PKR 6.58) during FY14, up by 8% YoY because of higher cement prices and a marginal increase in dispatches to ~2.61mn MT. On a quarterly basis, earnings of the company are likely to increase by 3% YoY to PKR 1,059mn (EPS: PKR 2.01) during 4Q FY14 because of higher cement prices and a 6% YoY increase in dispatches to 0.73mn MT. Potential earnings growth, however, is likely to be slowed by higher energy tariffs.

Global
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Poker Face on July 03, 2014, 05:30:14 PM
The Bell
 
MLCF: Pakistan Railway agreement to be value accretive

Agreement with PR to bring down coal transport costs
MLCF has recently signed a contract with Pakistan Railways (PR) to transport coal from Karachi Port to its cement factory located in Mianwali. As per management, the company will be able to realize effective transport cost of PKR2,400/ton, leading to a hefty 40% reduction in coal procurement cost. We estimate earnings impact of ~PKR1.0/0.9 for FY15/16 respectively.
GIDC hike to have marginal impact
The GoP has finalized new rates of Gas Infrastructure Development Cess (GIDC) to be applicable from July 1, 2014. GIDC on captive power plants have been increased from PKR100/mmbtu to PKR200/mmbtu. This will have marginal impact of ~PKR1/bag for MLCF.
Estimates revised upwards; maintain HOLD
After incorporating cost savings emanating from the Pakistan Railway agreement and factoring in hike in GIDC, we revise up our FY15/16 earnings expectation to PKR8.8/8.6 per share (up by 11/10% relative to earlier estimates) respectively. Consequently, we raise our Dec-14 PT to PKR 31/sh (up 7%). The stock currently offers potential upside of 3% at last closing. We maintain HOLD.

elixir
elixir is giving a P/E multiple of 3.65x to MLCF which is out of understanding.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: apple on July 03, 2014, 05:48:16 PM
The Bell
 
MLCF: Pakistan Railway agreement to be value accretive

Agreement with PR to bring down coal transport costs
MLCF has recently signed a contract with Pakistan Railways (PR) to transport coal from Karachi Port to its cement factory located in Mianwali. As per management, the company will be able to realize effective transport cost of PKR2,400/ton, leading to a hefty 40% reduction in coal procurement cost. We estimate earnings impact of ~PKR1.0/0.9 for FY15/16 respectively.
GIDC hike to have marginal impact
The GoP has finalized new rates of Gas Infrastructure Development Cess (GIDC) to be applicable from July 1, 2014. GIDC on captive power plants have been increased from PKR100/mmbtu to PKR200/mmbtu. This will have marginal impact of ~PKR1/bag for MLCF.
Estimates revised upwards; maintain HOLD
After incorporating cost savings emanating from the Pakistan Railway agreement and factoring in hike in GIDC, we revise up our FY15/16 earnings expectation to PKR8.8/8.6 per share (up by 11/10% relative to earlier estimates) respectively. Consequently, we raise our Dec-14 PT to PKR 31/sh (up 7%). The stock currently offers potential upside of 3% at last closing. We maintain HOLD.

elixir
elixir is giving a P/E multiple of 3.65x to MLCF which is out of understanding.

Maal churwaoooo strategy .. what else it could be and also look at his words highlighted and underlined above, I mean how much "Potential" one can find in 3% ..  :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Irfankhan on July 03, 2014, 06:48:27 PM
Ab cement 4 k pe par chalay ga to kaam hogya.

itna maal rooz trade horaha hai. unko maal nahi mil raha?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on July 03, 2014, 06:58:50 PM
valueetimator called the analyst to clarify. Analyst said he expects price war in 2018. :laugh:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Irfankhan on July 03, 2014, 09:14:37 PM
valueetimator called the analyst to clarify. Analyst said he expects price war in 2018. :laugh:
Price war means?

2018 means 4 years.

Are they really so upset - maal nahi mila ya paisay nahi hain.  :tongue: :tongue: :tongue:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on July 04, 2014, 12:51:58 AM
valueetimator called the analyst to clarify. Analyst said he expects price war in 2018. :laugh:
Price war means?

2018 means 4 years.

Are they really so upset - maal nahi mila ya paisay nahi hain.  :tongue: :tongue: :tongue:

Elixir is nothing less than a group of criminals. TGL is worth 67 and maple is worth 31.  They should have given at least disclosure about their stupid assumptions. If there is price war, lucky is 150, and fccl 7.  In there years time, there would be additional dispatches of about 6 million, so total dispatches of about 40 million tonnes p.a. Existing name plate capacity is 44 million tonnes, considering the power situation and weak plants such as flying, dada bhoy, dandot, dewan, the available capacity is not more than 42 million and at 80-% utilization total dispatches can be 33.6 million compared to demand of 40 million tonnes in 3 years. So in 3 years, even if there are two new plants, there is no risk of price war.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: mazeem on July 04, 2014, 03:14:36 AM
valueetimator called the analyst to clarify. Analyst said he expects price war in 2018. :laugh:
Price war means?

2018 means 4 years.

Are they really so upset - maal nahi mila ya paisay nahi hain.  :tongue: :tongue: :tongue:

Elixir is nothing less than a group of criminals. TGL is worth 67 and maple is worth 31.  They should have given at least disclosure about their stupid assumptions. If there is price war, lucky is 150, and fccl 7.  In there years time, there would be additional dispatches of about 6 million, so total dispatches of about 40 million tonnes p.a. Existing name plate capacity is 44 million tonnes, considering the power situation and weak plants such as flying, dada bhoy, dandot, dewan, the available capacity is not more than 42 million and at 80-% utilization total dispatches can be 33.6 million compared to demand of 40 million tonnes in 3 years. So in 3 years, even if there are two new plants, there is no risk of price war.

good analysis :thanks:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stockz_123 on July 09, 2014, 06:44:30 PM
MLCF ~ Conference call | Target Price Rs40 ~ FY15PE 4x
v  MLCF is making accelerated payments to the lenders which we consider an awesome achievement.

v  MLCF yields FY15 PE of 4x in lieu of our forecast of Rs 7.5/sh EPS~ our model yield target price of Rs 40. We brushed aside any issues with the company fundamentals since we continue to see cash gushing out due to persistent sales.

v  Hence we expect dividends by FY16 once agreements with creditors would ease out.

v  MLCF has recently signed an MOU with Pakistan railway for the transportation of imported coal and Cement to and fro Karachi - Lahore. This transportation mode will save more than Re 0.75/share for the company. MLCF uses a mixture to fulfil the energy needs.

v  As per our discussion, the recent imposition of 1% (effective) import duty on coal will not affect profits of the company.

MLCF continues to be our top pick in the cement sector.

SCS
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on July 11, 2014, 02:30:25 PM
Maple Leaf Cement ~ Conference Call
We maintain our "BUY" call in MLCF with DCF price of Rs 40/share. We have made a slight upward revision in FY14 and FY15 EPS forecast ~ current estimations Rs 6.6/share and Rs 7.85/sh respectively. It is obvious that there is 6% growth in 4Q dispatches~727,012 tons as compared to 685,719 tons in the corresponding period last year.

Some of our assertions and valuation table after discussion with the company
MLCF is working aggressively to reduce its cost of sales and to report higher profits and as per our discussion with the management
·         MLCF is making accelerated payments to the lenders which we consider an awesome achievement;
·         We expect dividends by FY16 once agreements with creditors would ease out (given accelerated payments against loans);
·         MLCF has recently signed MOU with Pakistan Railways for the transportation of imported coal and cement to and fro Karachi - Lahore. This transportation mode will save more than Re0.62/sh for the company;
·         The recent imposition of 1% (effective) import duty on coal and Increase in GIDC from Rs100/mmbtu to Rs 200/mmbtu will marginally increase the cost to Re. 0.06/sh.

Valuations look sanguine in FY15
MLCF yields FY15 PE of 4x in lieu of our forecast of Rs 7.85/sh EPS ~ our model yield DCF price of Rs 40/share.
We brushed aside any issues with the company fundamentals since we continue to witness cash gushing out from relentless sales.

SCS
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Daftari on July 17, 2014, 10:34:24 PM
With LUCKY cement divesting into power the fears of additional supply andcapacity construction have now sidelined. I expect pricing sturcture to remain as strong as it is, with one major player acquiring improved market share post LPCL acquisition. That said I expect MLCF to benefit from consistent demand and pricing and a tax shield from debt that not many cement players snjoy.
I would say "tera dehan kidher hai tera hero idher hai"  :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Market Wave on July 18, 2014, 09:31:54 AM
Lagta hai public thak kar out ho gayi hai.......Lao Maaaaaaaaaaaaaaaaal.  :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on July 21, 2014, 03:27:36 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: small bbs on July 21, 2014, 09:25:48 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good

Please don't create panic. ALL is GREEN
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Zayn on July 21, 2014, 10:56:39 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good

Please don't create panic. ALL is GREEN

He's been doing that for quite a while now. Is anyone else holding this script? or is Janta out?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umarm on July 21, 2014, 11:27:18 PM
I am in and would keep it for few months or weeks until it gets to 40.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on July 21, 2014, 11:28:11 PM
hopefully 34 tomorrow.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Zayn on July 21, 2014, 11:45:49 PM
hopefully 34 tomorrow.
:biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: jamalakhter on July 21, 2014, 11:48:14 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good

Please don't create panic. ALL is GREEN
           please explain the term short sell and at what rate
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Zayn on July 21, 2014, 11:57:38 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good

Please don't create panic. ALL is GREEN
           please explain the term short sell and at what rate

In simple terms you sell a stock that you do not own and wait for the price to drop so that you can buy it back hence making a profit. This is under future contracts, you can look up future contracts on kse website under market summary. Hope this helped
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ksenewb on July 22, 2014, 12:11:08 AM
Bullish run will continue tomorrow I think. Healthy buying today per trade.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on July 22, 2014, 04:12:56 AM
hopefully 34 tomorrow.
why not .. bro ..
 won't sell single share before 40
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Loto or Photo on July 22, 2014, 04:16:20 AM
hopefully 34 tomorrow.
why not .. bro ..
 won't sell single share before 40

me too  :s1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Ali135 on July 22, 2014, 02:17:36 PM
hopefully 34 tomorrow.
why not .. bro ..
 won't sell single share before 40

me too  :s1:

 :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on July 23, 2014, 12:50:42 AM
hopefully 34 tomorrow.
why not .. bro ..
 won't sell single share before 40

me too  :s1:

40 is quite near, target is 50.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ksenewb on July 23, 2014, 12:52:03 AM
Again healthy volume per trade today also
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on July 23, 2014, 01:46:43 AM
50 :[ any time frame. Thanx
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Loto or Photo on July 23, 2014, 04:19:04 AM
50 :[ any time frame. Thanx

bhai itnay bay sabray na banain ,INSHALLAH 50 per bi a jaye ga  till October
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on July 23, 2014, 10:00:07 AM
50 :[ any time frame. Thanx

bhai itnay bay sabray na banain ,INSHALLAH 50 per bi a jaye ga  till October

Bay sabray ni bun raha just poch rha ho.   :(
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umer on July 24, 2014, 02:17:02 PM
SBM 32 to 33 ke range mei a gya maple smc wale bat mere yad hai na  :rtfm: bola tha 33 level sustain itne jalde nhe krega. Any how sale kia hua utha lia maine aj below than my sale  :thumbsup_anim: bought at 32.10 . InshAllah ab yahan se 34 to 35 ke flight mei again swar ho gia hoon mai.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on July 24, 2014, 02:25:10 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good

Please don't create panic. ALL is GREEN

He's been doing that for quite a while now. Is anyone else holding this script? or is Janta out?
G ab btain....kuch roshni dalna psand Karen gay???? :good
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on July 24, 2014, 02:28:57 PM
Seniors ub btaye agy k kia scene hai.  :D Aj to tary sitary nazar agaye hu gy jis ny sale ni kia hu ga 34 py.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umer on July 24, 2014, 02:34:10 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good

Please don't create panic. ALL is GREEN

He's been doing that for quite a while now. Is anyone else holding this script? or is Janta out?
G ab btain....kuch roshni dalna psand Karen gay???? :good

Yar aptow bat he na kro sabir hussain apkay bas mei ho tow maple 1 paisa bhe na chalay. Par apkay buray comments k bawajood mlcf acha khasa high dikha gya. Aap tow 30 k level se he iskay peechay ho par maple apko mza chakha rha hai pichlay kayee dino se. App apnay kalay badal kahin aur le k jaoo is thread se door. Bus us din ka wait kro jub mlcf InshaAllah 40 lgayega jo k hamara apka challenge hai. Us waqt tak gayeb rho is thread se.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Atif1 on July 24, 2014, 02:37:49 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good

Please don't create panic. ALL is GREEN

He's been doing that for quite a while now. Is anyone else holding this script? or is Janta out?
G ab btain....kuch roshni dalna psand Karen gay???? :good

sabir Bhai aap aksar right hotay ho, per junta aap ke mantee he nahin, they r always in tayzee
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on July 24, 2014, 02:45:01 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good

Please don't create panic. ALL is GREEN

He's been doing that for quite a while now. Is anyone else holding this script? or is Janta out?
G ab btain....kuch roshni dalna psand Karen gay???? :good

sabir Bhai aap aksar right hotay ho, per junta aap ke mantee he nahin, they r always in tayzee
its not bad to be in tezi....bt problem is that they always want to ban me....that's a real concern...on smc a man shouted ....oh phir short ki awaz? ;)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: zakhan76 on July 24, 2014, 02:46:35 PM
The problem with this share is that investors don't trust this scrip and MLCF owners. Other cement companies share the profit earned with their shareholders but this company ....no chance...so any body is reluctant to hold it for long time.
We are now receiving results from companies and people would like to earn some good dividend and for that they are ready to hold for sometime. Huge profit taking.  I think MLCF is 3rd rated script.
Sabir bhai...aap ka alert thek thaa...now people will take you more seriously.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Kashif.toufiq on July 24, 2014, 02:54:26 PM
Result anay do , sub mlcf he buy kr rhay hongay .... Super result is on its way...  :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umer on July 24, 2014, 03:00:22 PM
fectc maple and many others were red today bcoz of expected correction bcoz they gained sudden rise in 3 to 4 days . Agar app bar bar yeh soch rhe ho k mlcf without any dip direct 40 jayega tow yeh apka apna kasoor hai. Jo log sabir ka sath de rhay hain unko yeh jan k khushi hoge sabir k khayal mei tow yeh 34 bhe nhe hona tha but it touched 34.25 today. Sabir k bus mei ho tow yeh mlcf only 30 he rhay  uuu .
But yeh hoga nhe  uuu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on July 24, 2014, 03:06:08 PM
fectc maple and many others were red today bcoz of expected correction bcoz they gained sudden rise in 3 to 4 days . Agar app bar bar yeh soch rhe ho k mlcf without any dip direct 40 jayega tow yeh apka apna kasoor hai. Jo log sabir ka sath de rhay hain unko yeh jan k khushi hoge sabir k khayal mei tow yeh 34 bhe nhe hona tha but it touched 34.25 today. Sabir k bus mei ho tow yeh mlcf only 30 he rhay  uuu .
But yeh hoga nhe  uuu
:dance
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on July 24, 2014, 03:08:50 PM
The problem with this share is that investors don't trust this scrip and MLCF owners. Other cement companies share the profit earned with their shareholders but this company ....no chance...so any body is reluctant to hold it for long time.
We are now receiving results from companies and people would like to earn some good dividend and for that they are ready to hold for sometime. Huge profit taking.  I think MLCF is 3rd rated script.
Sabir bhai...aap ka alert thek thaa...now people will take you more seriously.
It was only due to acquisition of LPCL by Bestway. Sirf Mlcf hi nahi gira baray bary burj b giray, like lucky, kohc ...... So we will witness this pressure in coming days as well.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Loto or Photo on July 24, 2014, 03:18:46 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good

Please don't create panic. ALL is GREEN

He's been doing that for quite a while now. Is anyone else holding this script? or is Janta out?
G ab btain....kuch roshni dalna psand Karen gay???? :good

sabir Bhai aap aksar right hotay ho, per junta aap ke mantee he nahin, they r always in tayzee
its not bad to be in tezi....bt problem is that they always want to ban me....that's a real concern...on smc a man shouted ....oh phir short ki awaz? ;)

Correction is good to achieve target of rs.40. I am still green, INSHALLAH no major correction, 14 august guzar jaye phir to dino main 40 ho ga
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: zakhan76 on July 24, 2014, 03:32:11 PM
Achaa janab...aap k moonh mein ghee shakar...yeh batain k result kab announce kar raha hai...MLCF??
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Capricon83 on July 24, 2014, 04:34:55 PM
 :bangin: Where you people live  :confused1:

It was neither technical nor fundamental correction it was only and only Mandee due to LPCL acquisition by Bestway and threat to pricing arrangements  uuu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ValueInvestor on July 24, 2014, 09:24:09 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good

Please don't create panic. ALL is GREEN

He's been doing that for quite a while now. Is anyone else holding this script? or is Janta out?
G ab btain....kuch roshni dalna psand Karen gay???? :good

sabir Bhai aap aksar right hotay ho, per junta aap ke mantee he nahin, they r always in tayzee
its not bad to be in tezi....bt problem is that they always want to ban me....that's a real concern...on smc a man shouted ....oh phir short ki awaz? ;)

Where do you look up to find out the Short Sell Volume of any Script?
Thank you.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Saeed Muhammad on July 24, 2014, 09:36:38 PM
KSE MARKET INORMATION           at number 25 there will be DFC Short sell volium


http://www.kse.com.pk/scripts/communicator.php?f=201424jul.html&l=dfcSS_14             
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on July 24, 2014, 10:22:26 PM
We should understand one thing that if Bestway which had 2nd largest capacity in the country is paying 20 rupees for a company which has maximum earning potential of 1.5-2 rupees (after tax), then what should be the potential of the stock which has maximum earning potential of PKR 10-12 per share (mlcf).

all d brokerage houses create panic and get benefit from the volatility.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sumbul on July 24, 2014, 10:31:37 PM
We should understand one thing that if Bestway which had 2nd largest capacity in the country is paying 20 rupees for a company which has maximum earning potential of 1.5-2 rupees (after tax), then what should be the potential of the stock which has maximum earning potential of PKR 10-12 per share (mlcf).

all d brokerage houses create panic and get benefit from the volatility.

totally endorse your point bro - besides a company sold at a significant premium shows how such potential is there in that sector overall - otherwise bestway group is not fool enough to invest at such high premium
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on July 25, 2014, 12:17:19 AM
Those who exited above 34 and intend 2 re-enter around 30/31 if possible r real people :rtfm: v all want to earn maximum in minmum possible time period but its a rare skill and has 2 b recognised and appreciated becore 1 can perform better in day/short trades
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ValueInvestor on July 25, 2014, 07:04:32 AM
KSE MARKET INORMATION           at number 25 there will be DFC Short sell volium


http://www.kse.com.pk/scripts/communicator.php?f=201424jul.html&l=dfcSS_14           

You just taught me something.
Thank you very much.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Capricon83 on July 25, 2014, 09:14:27 AM
We should understand one thing that if Bestway which had 2nd largest capacity in the country is paying 20 rupees for a company which has maximum earning potential of 1.5-2 rupees (after tax), then what should be the potential of the stock which has maximum earning potential of PKR 10-12 per share (mlcf).

all d brokerage houses create panic and get benefit from the volatility.

totally endorse your point bro - besides a company sold at a significant premium shows how such potential is there in that sector overall - otherwise bestway group is not fool enough to invest at such high premium

Isn't it strange that Brokerage Houses are afraid of Price War but current largest cement producer who already has billions of dollar at stake have no such concern in making a further investment of more than PKR 21 Billion  :skeptic:

Similarly I am more concerned about MCB Bank than Mansha. He only owns it while I have a deposit of 2,000 Rs. in his bank  :$:   

 :spam:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umar on July 28, 2014, 02:13:43 AM
We should understand one thing that if Bestway which had 2nd largest capacity in the country is paying 20 rupees for a company which has maximum earning potential of 1.5-2 rupees (after tax), then what should be the potential of the stock which has maximum earning potential of PKR 10-12 per share (mlcf).

all d brokerage houses create panic and get benefit from the volatility.

The acquirer pays for the company as well as the potential synergies of the merger. It is therefore incorrect to value the sector's multiples in that manner
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Sharoze123 on July 28, 2014, 02:43:07 AM
We should understand one thing that if Bestway which had 2nd largest capacity in the country is paying 20 rupees for a company which has maximum earning potential of 1.5-2 rupees (after tax), then what should be the potential of the stock which has maximum earning potential of PKR 10-12 per share (mlcf).

all d brokerage houses create panic and get benefit from the volatility.

The acquirer pays for the company as well as the potential synergies of the merger. It is therefore incorrect to value the sector's multiples in that manner

Umar is correct. The acquirer almost always purchase at a premium. Adjusted Net asset Value is considered as a minimum floor price in buying but we cannot value sector multiples on the acquisition price. Iss tarhan tou almost all textile companies are worth much, much more than their current market prices.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: m.omar on July 28, 2014, 03:43:41 AM
We should understand one thing that if Bestway which had 2nd largest capacity in the country is paying 20 rupees for a company which has maximum earning potential of 1.5-2 rupees (after tax), then what should be the potential of the stock which has maximum earning potential of PKR 10-12 per share (mlcf).

all d brokerage houses create panic and get benefit from the volatility.

The acquirer pays for the company as well as the potential synergies of the merger. It is therefore incorrect to value the sector's multiples in that manner

Umar is correct. The acquirer almost always purchase at a premium. Adjusted Net asset Value is considered as a minimum floor price in buying but we cannot value sector multiples on the acquisition price. Iss tarhan tou almost all textile companies are worth much, much more than their current market prices.
Completely agreed
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on July 28, 2014, 09:07:27 AM
We should understand one thing that if Bestway which had 2nd largest capacity in the country is paying 20 rupees for a company which has maximum earning potential of 1.5-2 rupees (after tax), then what should be the potential of the stock which has maximum earning potential of PKR 10-12 per share (mlcf).

all d brokerage houses create panic and get benefit from the volatility.

The acquirer pays for the company as well as the potential synergies of the merger. It is therefore incorrect to value the sector's multiples in that manner

Umar is correct. The acquirer almost always purchase at a premium. Adjusted Net asset Value is considered as a minimum floor price in buying but we cannot value sector multiples on the acquisition price. Iss tarhan tou almost all textile companies are worth much, much more than their current market prices.
Completely agreed

The eps range of 1.5-2 per share which i mentioned includes synergies benefits. The company earned 1.37 per share which included tax income of 0.4 per share against normal tax charge of 0.28. Thus tax adjusted eps of lpcl is only 0.67 (1.37-0.4 -0.28). The rest is all synergy benefit and benefit of unused capacity.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on July 28, 2014, 09:50:29 AM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good
:fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on July 28, 2014, 09:57:24 AM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good
:fingerscrossed1:

bhai ap market chordein kuch aur kaam kaj karlein tu behtar hai
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on July 28, 2014, 10:02:56 AM
 :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on July 28, 2014, 10:06:46 AM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good
:fingerscrossed1:
34 par short call di thee aur ab 31 lganay wala hay wasay,,,,, :biggthumpup:
bhai ap market chordein kuch aur kaam kaj karlein tu behtar hai
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on July 28, 2014, 10:09:27 AM
weak holders say maal nikal raha hai

result season approaching and best results in while expected

mlcf eps will be very good no payout likely

agar pehlay nahin sell kya tou abb time nahin hai sell ka

buy on dip hain cements
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Knife on July 28, 2014, 03:58:54 PM
weak holders say maal nikal raha hai

result season approaching and best results in while expected

mlcf eps will be very good no payout likely

agar pehlay nahin sell kya tou abb time nahin hai sell ka

buy on dip hain cements

007 bhai do you have any information regarding the capacity utilization of MLCF plant because If the capacity utilization is lower than the earnings growth can be much higher in case of MLCF  ::). 
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Ch. Waqas on July 28, 2014, 06:27:36 PM
i agree with 007 its not the time to sell very soon it will rally
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: mazeem on July 30, 2014, 12:37:04 AM
weak holders say maal nikal raha hai

result season approaching and best results in while expected

mlcf eps will be very good no payout likely

agar pehlay nahin sell kya tou abb time nahin hai sell ka

buy on dip hain cements

007 bhai do you have any information regarding the capacity utilization of MLCF plant because If the capacity utilization is lower than the earnings growth can be much higher in case of MLCF  ::).

jahangir bhai agar aap kuch analysis karsaken mlcf par to I will be very grateful to you.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: small bbs on July 30, 2014, 02:07:51 AM
weak holders say maal nikal raha hai

result season approaching and best results in while expected

mlcf eps will be very good no payout likely

agar pehlay nahin sell kya tou abb time nahin hai sell ka

buy on dip hain cements

007 bhai do you have any information regarding the capacity utilization of MLCF plant because If the capacity utilization is lower than the earnings growth can be much higher in case of MLCF  ::).

jahangir bhai agar aap kuch analysis karsaken mlcf par to I will be very grateful to you.

keep it for 4 weeks u will get profit, if IMRAN- NZ issued resolved properly, Otherwise; Red hi Red hay agay
by the way who is jahangir, I could not find his name in the thread
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: jahangir on July 30, 2014, 11:55:27 AM
hi  :D I am   http://www.forexfactory.com/showthread.php?t=484850

ok as far as mlcf, I hve only chart view don't know about any issue or other things due to less time I am busy with forex. though I found a summery abut it, link post bellow .
chart wise 30 and 28 are strong support area. no hope if daily close bellow 28. not buy, till it close above it's present high. i.e 34.
http://www.scstrade.com/StockScreening/SS_CompanySnapShot.aspx?symbol=MLCF

(http://i1218.photobucket.com/albums/dd403/doji133/mlfc_zps9f45baf4.jpg)] (http://[URL=http://s1218.photobucket.com/user/doji133/media/mlfc_zps9f45baf4.jpg.html)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sst569 on July 31, 2014, 11:31:06 PM
hi  :D I am   http://www.forexfactory.com/showthread.php?t=484850

ok as far as mlcf, I hve only chart view don't know about any issue or other things due to less time I am busy with forex. though I found a summery abut it, link post bellow .
chart wise 30 and 28 are strong support area. no hope if daily close bellow 28. not buy, till it close above it's present high. i.e 34.
http://www.scstrade.com/StockScreening/SS_CompanySnapShot.aspx?symbol=MLCF

(http://i1218.photobucket.com/albums/dd403/doji133/mlfc_zps9f45baf4.jpg)]
 (http://[URL=http://s1218.photobucket.com/user/doji133/media/mlfc_zps9f45baf4.jpg.html)

Hi jehangir what the hech is this forexfactory, and who is priceaction in the thread? Plz explain a bit?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: jahangir on August 01, 2014, 02:16:44 AM
hi  :D I am   http://www.forexfactory.com/showthread.php?t=484850

ok as far as mlcf, I hve only chart view don't know about any issue or other things due to less time I am busy with forex. though I found a summery abut it, link post bellow .
chart wise 30 and 28 are strong support area. no hope if daily close bellow 28. not buy, till it close above it's present high. i.e 34.
http://www.scstrade.com/StockScreening/SS_CompanySnapShot.aspx?symbol=MLCF

(http://i1218.photobucket.com/albums/dd403/doji133/mlfc_zps9f45baf4.jpg)]
 (http://[URL=http://s1218.photobucket.com/user/doji133/media/mlfc_zps9f45baf4.jpg.html)

Hi jehangir what the hech is this forexfactory, and who is priceaction in the thread? Plz explain a bit?

 :D forex factory is one of the top Forex trader forum, priceaction1 is my nick name over there and I am  1 of the top 3 high impact member from Pakistan and one of 382 all over the world. :skeptic:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sst569 on August 01, 2014, 02:47:05 AM
Thanks jahangir bro. Yes i saw many people following priceaction1 journal. Can you message me privately and give a brief how can i trade in Forex so that MLCF thread dont get stuffed with irrelevant posts. 
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: jahangir on August 01, 2014, 10:29:45 AM

 :o why I have to massage my email there  uuu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on August 03, 2014, 12:45:32 PM
It took an year to rise from 30 to 34.....and took just 3 sessions to fall back from 34 to 31... :laugh:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on August 04, 2014, 01:37:36 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good
:fingerscrossed1:
lo jnab 5 rupees down hua.....after my call.....should I leave the mkt? :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aliraza on August 04, 2014, 01:41:01 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good
:fingerscrossed1:
lo jnab 5 rupees down hua.....after my call.....should I leave the mkt? :biggthumpup:

today short cover 30rs ab buy kal karoo gaaaaaa :dance
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on August 06, 2014, 04:35:53 AM
All about engro foods


Bot 10 k at 29.80  :dunno:


Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: jahangir on August 06, 2014, 11:40:46 PM
 so 29 is the last support. :D

(http://i1218.photobucket.com/albums/dd403/doji133/mlfc_zps9f45baf4.jpg)]] (http://[url=http://[URL=http://s1218.photobucket.com/user/doji133/media/mlfc_zps9f45baf4.jpg.html)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: jahangir on August 06, 2014, 11:45:55 PM
 :D

(http://i1218.photobucket.com/albums/dd403/doji133/909098_zps41a91ddd.jpg)] (http://[URL=http://s1218.photobucket.com/user/doji133/media/909098_zps41a91ddd.jpg.html)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on August 06, 2014, 11:51:04 PM
29 py strong support ha ??
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: jahangir on August 06, 2014, 11:52:51 PM
 :D try to read the charts. :good
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on August 07, 2014, 12:01:43 AM
over sold hai rsi getting on lower side

retracement almost complete agar support pakri tou it will rebound

14 aug is the dampner thanks to mofo ik

khair it will rally sooner than latter and it wont fall further as per my opinion
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on August 07, 2014, 12:08:03 AM
ps shrinking volumes suggest that trend reversal is likely  :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ksenewb on August 07, 2014, 12:09:30 AM
:D try to read the charts. :good

Technical analysis and support levels mean little in a market which is down due to some unusual event.. like it is currently.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on August 07, 2014, 12:14:55 AM
:D try to read the charts. :good

Technical analysis and support levels mean little in a market which is down due to some unusual event.. like it is currently.
very true ksenewb :rtfm:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on August 07, 2014, 12:16:34 AM
:D try to read the charts. :good

Technical analysis and support levels mean little in a market which is down due to some unusual event.. like it is currently.

agreed but its better than flying in the dark
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: jahangir on August 07, 2014, 12:17:20 AM
:D try to read the charts. :good

Technical analysis and support levels mean little in a market which is down due to some unusual event.. like it is currently.

did you read my post regarding 3 days doji in kse100.
regards.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on August 12, 2014, 12:48:54 PM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good
:fingerscrossed1:
:thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on August 12, 2014, 01:58:20 PM
Sabir bhai man gae g ub btain buy kb krna ha
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on August 12, 2014, 03:12:24 PM
jb marzi buy kero... :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on August 12, 2014, 03:39:14 PM
jb marzi buy kero... :D

Thank u soo much. :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on August 19, 2014, 05:40:36 PM
MLCF: FY14 EPS expected at PKR6.81
We expect MLCF to post FY14 EPS of PKR6.81, up 11% YoY. 4Q earnings are expected to clock in at PKR2.24/sh, up 15% YoY and 27% QoQ.

elixir
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on August 21, 2014, 07:49:14 PM
has been weak during recent dharna`s,
can b bought tomorrow 
because majority expect Govt to take delayed tough decisions within `Days`
laooo maal cement, steel, auto ,paints and rest :shoaby: :shoaby: :shoaby:
 
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on August 22, 2014, 08:32:37 PM
MLCF: EPS of Rs2.09 expected in 4QFY14

We expect MLCF to report PAT of Rs1,100mn (EPS: Rs2.09) in 4QFY14 compared to a PAT of Rs1,028mn (EPS: Rs1.95) in the same period last year, translating into 7%YoY growth. We anticipate 17%YoY growth in MLCF’s 4Q top-line to Rs5.4bn, led by higher retention prices as well as volumetric growth. Consequently, gross profit is anticipated to jump by 3%YoY. That said, gross margin is likely to shrink to 33% from 38% in the same period because of higher power costs. Meanwhile, another projected positive aspect of the result are lower financial charges  (-40%YoY) on the back of lower debt balance.

JS
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: pax on August 27, 2014, 01:26:20 PM
Is it good to buy at these levels?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Capricon83 on August 27, 2014, 01:56:58 PM
Is it good to buy at these levels?

70% of the scripts are at good level but the bet is on political situation...... Takht ya Takhta  :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on August 27, 2014, 02:24:58 PM
Is it good to buy at these levels?

70% of the scripts are at good level but the bet is on political situation...... Takht ya Takhta  :fingerscrossed1:
[/quo te]
very true, junta, the main victim still missing from the action while power players the main beneficaries  playing chess to the end though now feeling the heat because all these groups commitment to pakistan and us badly exposed. hope, all these qabza groups will b punished for hostage taking( whole nation ) once crisis has ended peacefully
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on August 28, 2014, 11:39:59 AM
mushtari hoshyar bash!!!!!!!!!!
short sell volume in mlcf-aug=1,343,500
total volume=2,330,500

Decesion is urs :good
:fingerscrossed1:
exatcly after 1 month, it lost 10 rupees :laugh:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on August 28, 2014, 07:59:35 PM
We preview 4QFY14 results for MLCF, where we expect the company to report net earnings of PKR1.26bn (EPS: PKR2.39), registering a significant growth of 36% QoQ. Such a remarkable Improvement in the bottom-line is primarily on the back of, 1) expected improvement of 8.8% QoQ in the top-line of the company owing to both higher local & export dispatches and 2) augmenting gross margins which are likely to clock in at a decent levels of 39.3% in 4QFY14 as compared to 32.2% in 3QFY14 due to dip in international coal prices and strengthening of PKR against USD. Cumulatively, FY14 net earnings are estimated to settle down at PKR3.76bn, translating into an EPS of PKR6.96, (up 14% YoY).

Recent acquisition of LPCL by Bestway Cement Limited (BWCL) and news of International Trade Administration Commission of South Africa accepting an application raised by the South African local cement makers against Pakistani cement exporters is likely to keep be sector under pressure.

FY15TD local cement prices have remained stable, but the risk of price decline does remain. A reduction of PKR25/50kg bag is expected to curtail MLCF’s forecasted FY15 EPS of PKR8.25 to PKR7.01, whereas reduction of PKR50/5okg bag is expected to end up with an EPS of PKR5.76. MLCF is our top pick in the cement universe due to trough valuation. At current price, the scrip is offering an attractive upside potential of 68% and is trading at a FY15 P/E of 3.1x. BUY maintained!

Taurus
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on August 29, 2014, 07:26:45 PM
The Maple Leaf Cement (KSE: MLCF) is part of the Kohinoor Maple Leaf Group (KMLG), founded in early 1950s. Aside from the cement manufacturer, the group is also comprised of the Kohinoor Textile Mills Limited. MLCF has one of the largest cement plants in the country, with an installed annual capacity of 3.37 million tonnes of cement. The company was established as a joint collaboration between the West Pakistan Industrial Development Corporation and the Government of Canada. The plant is located at Daudekhel (Districk Mianwali) in the northern region.

MLCF was acquired by KMLG under the privatisation policy of the Government of Pakistan in 1992. Currently, Kohinoor Textile Mills is the holding company of MLCF. At the time of privatization, the company had a capacity of 1,000 tonnes per day (tpd) for Ordinary Portland Cement (OPC). Subsequently, another plant with a capacity of 4,000 tpd was commissioned in 1998, followed by a third plant with a capacity of 6,700 tpd in 2006. Further, the capacity for White Cement was also increased from 100 tpd to 500 with the addition of a new plant. This plant has provisions for doubling the capacity for production of White Cement to 1,000 tpd. The plants were supplied by FLSmidth, Denmark and are reported to be compliant with National Environment Control standards.

Aside from OPC and White Cement, MLCF also deals in specialised cement such as SRC (Sulphate Resistant Cement), Low Alkali Cement and Oil Well Cement. MLCF is the only local cement manufacturer producing Oil Well Cement.

With the increase in prices of furnace oil, MLCF had also adopted coal as the primary material for kiln firing at the plant, while possibilities of alternative and cheaper fuels, such as waste firing are also under consideration of the company. MLCF is headquartered in Lahore and is governed by a board of eight members. Tariq Sayeed Saigol serves as the Chairman of the Board, while Sayeed Tariq Saigol is the current CEO of the company.

Industrial review At 26.14 million tonnes, total cement sales for FY14 have been the highest ever recorded in the sector. Exports, however, witnessed a decline of 2.9 percent compared with last year, mainly on account of suppressed demand from Afghanistan. On the other hand, local sales registered their highest annual quantum at 34.28 million tonnes, increasing by 2.4 percent year on year.

Local sales experienced a significant uptick from the Rawalpindi-Islamabad Metro Bus Project lately, while the increasing trend has also been projected to continue over the current year on account of key mega projects including Khanki Barrage, Bhasha Dam and the recently approved Karachi-Lahore Motorway and Dasu Dam. Further, the government has also allocated a sizable portion of the PSDP toward infrastructure development. The sector has also been witnessing expansion by some of the leading players. However, sales slowed down with the beginning of FY15 due to limited activity during the month of Ramazan. Sales were also slightly affected due to blockages of routes as the Azadi March progressed towards the capital earlier this month.

FINANCIAL PERFORMANCE 9M FY14 Net sales registered an increase of 9 percent year on year during the period, mainly on account of passing of incremental costs of hike in power tariff. The increase in prices also incorporated for other inflationary pressures. Gross profits rose by 7 percent compared with the corresponding period of the previous year.

The third quarter of the year proved to be especially active across the sector as construction activity in the country experienced an uptick. The increased activity resulted not only from mega-projects of the government but also due to demand from the private sector. Further, there was also higher utilisation of funds released under the Public Sector Development Programme (PSDP). Hence, MLCF also witnessed higher sales during the third quarter of FY14.

On the other hand, exports quantities and prices remained weak due to suppressed demand. Profitability was also affected due to continued load shedding of natural gas. Operating profits increased by a modest 3.2 percent during the period. Growth in operating profit resulted mainly from increase in the prices of cement and efficient operation of the Waste Heat Recovery Plant.

There was also a decline of 15 percent in financial charges of the company. Dropping down of interest rates, improved cash management, delivering and appreciation in the value of Pak Rupee jointly contributed to this decline. Further, repayment of debt obligations, including Sukuk/Syndicate is also underway at MLCF. Overall, MLCF was able to post a decent growth of 10 percent in net earnings during the nine-month period.

Future outlook Like other players in the sector, MLCF has also been expecting an uptick in cement demand, resulting from public sector projects related to infrastructure development in the country. Demand is also expected to increase from an uptick in construction activity by the private sector. Moreover, cement prices are also projected to remain stable and are likely to result in profitability growth for MLCF.

On the export front, demand has been hit due to the uncertain political climate in Afghanistan and higher competition from low-priced Iranian cement. Demand from India, the second largest export destination, has also been muted during the year. Weaker export demand has subdued the positive impact of stability in the international prices of coal and appreciation in the value of Pak Rupee. The most important factor in the near future, however, would be political stability within the country, particularly in the light of government's budgetary allocations to infrastructure development.

===============================================
MLCF-Key financials
===============================================
Nine-months ended
===============================================
Rs (mn)                  31-Mar-14    31-Mar-13
===============================================
Sales-net                  13796.7      12704.8
Cost of sales              -9204.7      -8419.6
Gross profit                4592.0       4285.2
Distribution cost           -749.2       -572.8
Administrative expenses     -213.3       -184.4
Other operating expenses    -137.6       -102.9-1100.1       -860.0
Other operating income        71.2         27.7
Operating profit            3563.1       3452.8
Finance cost               -1129.6      -1330.6
Profit before taxation      2433.4       2122.3
Taxation                     -21.9         74.9
Net profit                  2411.5       2197.2
EPS-basic & diluted (Rs)       4.6          4.2
===============================================
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on September 04, 2014, 10:15:56 AM
Dehan bhai koi dekhan day na  :bigeyed:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ValueInvestor on September 11, 2014, 05:44:54 AM
Board Meeting:

Maple Leaf Cement Factory Limited   Annual   Sep 17th, 2014 12:30 PM
 
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ksenewb on September 11, 2014, 08:48:38 AM
Very high short sell volume yesterday
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Loto or Photo on September 11, 2014, 09:05:47 AM
Very high short sell volume yesterday

hmmm  :thumbsdown_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ValueInvestor on September 15, 2014, 07:30:29 AM
agreed.. With full year resuly in sight, MLCF  :confused1:

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

http://www.pacra.com.pk/uploads/summary_report/MLCFL_SR_25Apr14%203.pdf

MLCF long term Debt as of

March 31-14: 9,795 million actual
June 30-2014: 8,595 Estimated
Sep 30-2014:  7,295     ''
Dec 31-2014: 6,200      '' (per share 11.764), One year Cash Profit, (approx 10 per share)
Oper wala link nahi Kulta. Error daita hay aur bolta hay k ap ko permission nahi.

http://www.pacra.com/
Thanks Farzooq Bhai. Inti achi news/ upgrade ka b koi asar nahi hova is ki sehat pa. Bus ab is pa jo manhoos Sia ka asar ka toor karna paray ga. Is weekend pa ik ki Kaat karta hon.

Chaly ga

Brother,
Based on current situation what are your views on MLCF?
Thank you.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ValueInvestor on September 15, 2014, 07:33:50 AM
:bangin: :bangin: :bangin:

samajh say bahir hay yeah company.

every one is bullish but share price is declining.

PTI walo ko batao.

holding for 108 days in futures. waat laggae hai

Guru,
Are you still bullish on MLCF? Please share your views based on current circumstanses ?
Thank you.

 
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on September 16, 2014, 08:35:46 PM
:bangin: :bangin: :bangin:

samajh say bahir hay yeah company.

every one is bullish but share price is declining.

PTI walo ko batao.

holding for 108 days in futures. waat laggae hai

Guru,
Are you still bullish on MLCF? Please share your views based on current circumstanses ?
Thank you.

EPS of 2.33 expected during 4th quarter and 6.9 for the year.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ValueInvestor on September 16, 2014, 10:14:43 PM
:bangin: :bangin: :bangin:

samajh say bahir hay yeah company.

every one is bullish but share price is declining.

PTI walo ko batao.

holding for 108 days in futures. waat laggae hai

Guru,
Are you still bullish on MLCF? Please share your views based on current circumstanses ?
Thank you.

EPS of 2.33 expected during 4th quarter and 6.9 for the year.

Thank you, always appreciate your input.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on September 16, 2014, 10:55:46 PM
avoid
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ValueInvestor on September 16, 2014, 11:43:16 PM
avoid

Thank you.
Unfortunately (or Fortunately) we will find out soon. I am in it.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Irfankhan on September 17, 2014, 02:53:26 AM
avoid
007 Bhai should we short sell it?

I am in it so I don't like to short sell it but still I will know your consent so won't buy more and wait for dips.

whats your TP downwards? :thanks:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Farzooq on September 17, 2014, 05:07:26 PM
Eps 5.36 tax 760m
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sars333 on September 17, 2014, 05:41:51 PM
 :crying_anim02:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Hobbyist on September 17, 2014, 06:16:36 PM
Eps 5.36 tax 760m
Good earnings except for tax.
Sales for FY14 up by 9.3%, gross margin is stable, and profit before tax rose by 13.5%.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on September 17, 2014, 06:23:43 PM
Eps 5.36 tax 760m
Good earnings except for tax.
Sales for FY14 up by 9.3%, gross margin is stable, and profit before tax rose by 13.5%.
Ye tax ka shosha kis nein chorta aur kion chora?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ksenewb on September 17, 2014, 11:48:51 PM
Eps 5.36 tax 760m
Good earnings except for tax.
Sales for FY14 up by 9.3%, gross margin is stable, and profit before tax rose by 13.5%.
Ye tax ka shosha kis nein chorta aur kion chora?

They have come under the ATR regime which was introduced in the budget under which any company having taxable losses or less than a certain % of taxable income... Will be charged to tax under its ACCOUNTING INCOME.. its disappointing to see that none of the so called "analysts" were able to account for this fact in their earnings estimate.

Leyyy maaal MLCF .... bring back 24.


Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on September 18, 2014, 06:56:27 AM
http://www.brecorder.com/br-research/999:all/4766:mlcf-lagged-growth/?date=2014-09-18
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Knife on September 18, 2014, 12:27:45 PM
Eps 5.36 tax 760m
Good earnings except for tax.
Sales for FY14 up by 9.3%, gross margin is stable, and profit before tax rose by 13.5%.
Ye tax ka shosha kis nein chorta aur kion chora?

They have come under the ATR regime which was introduced in the budget under which any company having taxable losses or less than a certain % of taxable income... Will be charged to tax under its ACCOUNTING INCOME.. its disappointing to see that none of the so called "analysts" were able to account for this fact in their earnings estimate.

Leyyy maaal MLCF .... bring back 24.
Sir what is the plant utilization of MLCF.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on September 18, 2014, 05:12:45 PM
Maple Leaf Cement ~ Knight
Maple Leaf Cement (MLCF) is one of the leading cement manufacturers in Pakistan with production capacity of 3.37 mn tons/annum. MLCF announced FY14 results on September 17th 2014, where company posted earnings of Rs 5.36/sh (earlier we projected Rs6.45/sh ¬ the tax entry reduced EPS for FY14).
The thrust of increase in revenue is due to increase in dispatches (local 0.60% & export 1.14%) and cement prices. Profit before tax margin improved in FY14 to 18.9% as compared to 18.2% in FY13. The thrust of improvement in profits due to accelerated repayment of debt resulted reduction in finance cost and improved other income resulted 13.5% growth in PBT deciphering EPS before tax of Rs 6.80/share.
 
Reduction in earnings after tax from Rs 6.11/sh to Rs 5.36/sh is due to corporate tax implication of 21.2% as MLCF has come out of accumulated losses and posted accumulated profits in FY14, which is a good sign.
FY15 Expectations
Glaring Triggers
MLCF has accelerated the repayment of its long term debts which resulted lower finance cost in FY14 (we gave complete description in our detailed report). We expect that MLCF will continue to float the same way in FY15 which will result lower finance cost & improved profits.
 
Demand~ Federal and Provincial govt. has jointly allocated over Rs 1 trillion for PSDP in FY15 budget.
·         Flood disaster
Recent floods have destroyed the infrastructure in Punjab. Redevelopment of infrastructure and houses will boost the demand in FY15.
·         Construction of Dams
Recent floods have put a lot of pressure on GoP which results GoP to work aggressively for construction of Dasu dam along with Basha dam to prevent floods in future.
 
Contract with PR~ MLCF has signed special contract with Pakistan railways which will help MLCF to reduce cost of transportation to - fro from plant to port.
 
Valuations
MLCF yields PE of 5.2x with high earning growth in FY15.
We give positive stance on MLCF.

SCS
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on September 18, 2014, 05:13:52 PM
 
The Bell
 
MLCF: Weak 4Q earnings offer ideal entry opportunity

Sky-high tax rate in 4Q dragged earnings
MLCF announced its FY14 financial results yesterday, posting EPS of PKR5.36, down 12% YoY, significantly underperforming our expectations. 4QFY14 EPS clocked in at PKR0.79, down 59% YoY and 55% QoQ. Although PBT remained in line with our estimates, unusually high effective tax rate of 64% in 4Q pulled earnings down.
Earning triggers still intact
We have jacked up our tax rate estimates for FY15 by 10pp to 20% and have revised down our earnings estimate to PKR7.9/sh (-11%). However, FY15 earnings are still expected to expand by 48% YoY with bottom line accretion mainly emanating from significant reduction in transportation costs (-10%), overall dispatch growth of 4% and increase in average retention price of 6%.
Higher discount to sector not justified
Historically, MLCF has closely tracked sector’s average (Ex-LUCK) PER multiple. But in the past year (since Nov-13), the discount has relatively widened to 22%; we believe this is unjustified given: i) strong earnings growth in FY15, ii) competitive advantage in cheaper transportation costs, iii) cheaper fuel mix due to use of PET coke, and iv) higher average retention due to white cement sales.
Estimates revised; maintain BUY
After incorporating for higher taxes in FY15/16, we revise down our FY15/16 EPS estimate by 11/1% to PKR7.9/8.7. Consequently, we lower our Jun-15 PT to PKR34/sh (-3%). The stock currently offers an upside of 22% at last closing and is among our top picks in the cement sector along with DGKC. BUY

elixir
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Irfankhan on September 18, 2014, 10:46:06 PM

The Bell
 
MLCF: Weak 4Q earnings offer ideal entry opportunity

Sky-high tax rate in 4Q dragged earnings
MLCF announced its FY14 financial results yesterday, posting EPS of PKR5.36, down 12% YoY, significantly underperforming our expectations. 4QFY14 EPS clocked in at PKR0.79, down 59% YoY and 55% QoQ. Although PBT remained in line with our estimates, unusually high effective tax rate of 64% in 4Q pulled earnings down.
Earning triggers still intact
We have jacked up our tax rate estimates for FY15 by 10pp to 20% and have revised down our earnings estimate to PKR7.9/sh (-11%). However, FY15 earnings are still expected to expand by 48% YoY with bottom line accretion mainly emanating from significant reduction in transportation costs (-10%), overall dispatch growth of 4% and increase in average retention price of 6%.
Higher discount to sector not justified
Historically, MLCF has closely tracked sector’s average (Ex-LUCK) PER multiple. But in the past year (since Nov-13), the discount has relatively widened to 22%; we believe this is unjustified given: i) strong earnings growth in FY15, ii) competitive advantage in cheaper transportation costs, iii) cheaper fuel mix due to use of PET coke, and iv) higher average retention due to white cement sales.
Estimates revised; maintain BUY
After incorporating for higher taxes in FY15/16, we revise down our FY15/16 EPS estimate by 11/1% to PKR7.9/8.7. Consequently, we lower our Jun-15 PT to PKR34/sh (-3%). The stock currently offers an upside of 22% at last closing and is among our top picks in the cement sector along with DGKC. BUY

elixir
34 ka target price for june 2015 = with the eps of 7.90
is it calculation mistake? or reality.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on September 19, 2014, 12:48:21 AM
avoid cements they will be laggards
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Irfankhan on September 19, 2014, 01:10:56 AM
avoid cements they will be laggards
007 Bhai kindly mention the reason behind this expectation.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on September 19, 2014, 01:28:06 AM
poor q1 results
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on September 19, 2014, 01:33:42 AM
just wait till october 31-2014, things will get clearer for cements and maple as well.

there is no doubt that its cheap, short term view could be depressed, but long term, the stock has value.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on September 19, 2014, 11:58:51 AM

The Bell
 
MLCF: Weak 4Q earnings offer ideal entry opportunity

Sky-high tax rate in 4Q dragged earnings
MLCF announced its FY14 financial results yesterday, posting EPS of PKR5.36, down 12% YoY, significantly underperforming our expectations. 4QFY14 EPS clocked in at PKR0.79, down 59% YoY and 55% QoQ. Although PBT remained in line with our estimates, unusually high effective tax rate of 64% in 4Q pulled earnings down.
Earning triggers still intact
We have jacked up our tax rate estimates for FY15 by 10pp to 20% and have revised down our earnings estimate to PKR7.9/sh (-11%). However, FY15 earnings are still expected to expand by 48% YoY with bottom line accretion mainly emanating from significant reduction in transportation costs (-10%), overall dispatch growth of 4% and increase in average retention price of 6%.
Higher discount to sector not justified
Historically, MLCF has closely tracked sector’s average (Ex-LUCK) PER multiple. But in the past year (since Nov-13), the discount has relatively widened to 22%; we believe this is unjustified given: i) strong earnings growth in FY15, ii) competitive advantage in cheaper transportation costs, iii) cheaper fuel mix due to use of PET coke, and iv) higher average retention due to white cement sales.
Estimates revised; maintain BUY
After incorporating for higher taxes in FY15/16, we revise down our FY15/16 EPS estimate by 11/1% to PKR7.9/8.7. Consequently, we lower our Jun-15 PT to PKR34/sh (-3%). The stock currently offers an upside of 22% at last closing and is among our top picks in the cement sector along with DGKC. BUY

elixir
34 ka target price for june 2015 = with the eps of 7.90
is it calculation mistake? or reality.

Elixir just mad
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on September 19, 2014, 03:13:15 PM
LUCKY, LPCL, ACPL, PIOC, KOHC are trading at fair values or overvalued.

Maple should be 56 if we use fccl as a benchmark.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alidxb on September 19, 2014, 04:48:21 PM
What is best stock among cement sector?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: momo on September 19, 2014, 05:09:57 PM
LUCKY, LPCL, ACPL, PIOC, KOHC are trading at fair values or overvalued.

Maple should be 56 if we use fccl as a benchmark.

It will never trade at such multiples. The stock will always remain cheap due to the questionable activities of group that is the majority shareholder. All others will always trade higher.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alidxb on September 19, 2014, 11:05:17 PM
LUCKY, LPCL, ACPL, PIOC, KOHC are trading at fair values or overvalued.

Maple should be 56 if we use fccl as a benchmark.

It will never trade at such multiples. The stock will always remain cheap due to the questionable activities of group that is the majority shareholder. All others will always trade higher.
It is trading at attractive PEX of 5.27 but very poor pay out history make this share a katchra item; can any body guide where profits generated are going if management is not distributing among the investors?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on September 19, 2014, 11:36:23 PM
LUCKY, LPCL, ACPL, PIOC, KOHC are trading at fair values or overvalued.

Maple should be 56 if we use fccl as a benchmark.

It will never trade at such multiples. The stock will always remain cheap due to the questionable activities of group that is the majority shareholder. All others will always trade higher.
It is trading at attractive PEX of 5.27 but very poor pay out history make this share a katchra item; can any body guide where profits generated are going if management is not distributing among the investors?

Kindly read previous pages in this thread as well as directors reports of the company.
You will get a better picture of what is happening.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Alpha on September 25, 2014, 06:16:59 PM
Eps 5.36 tax 760m
Good earnings except for tax.
Sales for FY14 up by 9.3%, gross margin is stable, and profit before tax rose by 13.5%.
Ye tax ka shosha kis nein chorta aur kion chora?

They have come under the ATR regime which was introduced in the budget under which any company having taxable losses or less than a certain % of taxable income... Will be charged to tax under its ACCOUNTING INCOME.. its disappointing to see that none of the so called "analysts" were able to account for this fact in their earnings estimate.

Leyyy maaal MLCF .... bring back 24.

Result is for the period Apr-Jun while alternative corporate tax implemented from 1st july.
Am I right?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on September 25, 2014, 11:01:44 PM
Eps 5.36 tax 760m
Good earnings except for tax.
Sales for FY14 up by 9.3%, gross margin is stable, and profit before tax rose by 13.5%.
Ye tax ka shosha kis nein chorta aur kion chora?

They have come under the ATR regime which was introduced in the budget under which any company having taxable losses or less than a certain % of taxable income... Will be charged to tax under its ACCOUNTING INCOME.. its disappointing to see that none of the so called "analysts" were able to account for this fact in their earnings estimate.

Leyyy maaal MLCF .... bring back 24.

Result is for the period Apr-Jun while alternative corporate tax implemented from 1st july.
Am I right?

Yes , result is for year ending June 2014. Not sure how this  tax system works....
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Alpha on September 26, 2014, 12:32:23 AM
Eps 5.36 tax 760m
Good earnings except for tax.
Sales for FY14 up by 9.3%, gross margin is stable, and profit before tax rose by 13.5%.
Ye tax ka shosha kis nein chorta aur kion chora?

They have come under the ATR regime which was introduced in the budget under which any company having taxable losses or less than a certain % of taxable income... Will be charged to tax under its ACCOUNTING INCOME.. its disappointing to see that none of the so called "analysts" were able to account for this fact in their earnings estimate.

Leyyy maaal MLCF .... bring back 24.

Result is for the period Apr-Jun while alternative corporate tax implemented from 1st july.
Am I right?

Yes , result is for year ending June 2014. Not sure how this  tax system works....

May be u could draw some conclusion from this:

http://www.brecorder.com/taxation/181:pakistan/1227561:accelerated-deprecation-tax-credit-companies-required-to-pay-17-percent-act-of-accounting-profits/?date=2014-09-25
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alidxb on September 26, 2014, 11:20:05 AM
LUCKY, LPCL, ACPL, PIOC, KOHC are trading at fair values or overvalued.

Maple should be 56 if we use fccl as a benchmark.

It will never trade at such multiples. The stock will always remain cheap due to the questionable activities of group that is the majority shareholder. All others will always trade higher.
It is trading at attractive PEX of 5.27 but very poor pay out history make this share a katchra item; can any body guide where profits generated are going if management is not distributing among the investors?
Keep away from it; better.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sst569 on September 29, 2014, 12:47:17 AM
hi  :D I am   http://www.forexfactory.com/showthread.php?t=484850

ok as far as mlcf, I hve only chart view don't know about any issue or other things due to less time I am busy with forex. though I found a summery abut it, link post bellow .
chart wise 30 and 28 are strong support area. no hope if daily close bellow 28. not buy, till it close above it's present high. i.e 34.
http://www.scstrade.com/StockScreening/SS_CompanySnapShot.aspx?symbol=MLCF

(http://i1218.photobucket.com/albums/dd403/doji133/mlfc_zps9f45baf4.jpg)]
 (http://[URL=http://s1218.photobucket.com/user/doji133/media/mlfc_zps9f45baf4.jpg.html)

Dear Jahangir sahb,



I have a few questions regarding your style of trading and hope that you will reply in bit detail.

1) my first query, how you split your account into 10 sub accounts? You mentioned this in a few posts in your journal that you split your account in 10 portions and play with one at a time so that in worst case loss is one tenth of account.

2) in post number 3 you also said that after 500-750 percent gain account is closed and you open new one, why account get closed?

Which broker you are using?

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alidxb on September 29, 2014, 12:53:09 PM
hi  :D I am   http://www.forexfactory.com/showthread.php?t=484850

ok as far as mlcf, I hve only chart view don't know about any issue or other things due to less time I am busy with forex. though I found a summery abut it, link post bellow .
chart wise 30 and 28 are strong support area. no hope if daily close bellow 28. not buy, till it close above it's present high. i.e 34.
http://www.scstrade.com/StockScreening/SS_CompanySnapShot.aspx?symbol=MLCF

(http://i1218.photobucket.com/albums/dd403/doji133/mlfc_zps9f45baf4.jpg)]
 (http://[URL=http://s1218.photobucket.com/user/doji133/media/mlfc_zps9f45baf4.jpg.html)

Dear Jahangir sahb,



I have a few questions regarding your style of trading and hope that you will reply in bit detail.

1) my first query, how you split your account into 10 sub accounts? You mentioned this in a few posts in your journal that you split your account in 10 portions and play with one at a time so that in worst case loss is one tenth of account.

2) in post number 3 you also said that after 500-750 percent gain account is closed and you open new one, why account get closed?

Which broker you are using?
Where is strong support of 28?. I said many times it is katchra of cement sector; ab loo 26.61 par; see what next.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: kpall99 on October 11, 2014, 07:02:42 PM

In Focus
Maple Leaf Cement Company Limited (MLCF): On an upward trajectory!

   A turnaround story in the making, we expect Maple Leaf Cement Factory Limited (MLCF) to significantly outperform peers as earnings traction in FY15 confluences with dissipating risks. FY15 earnings are expected to clock in at PKR3.4bn (EPS: PKR6.5), a growth of 22%YoY on the back of i) improving gross margins (GMs) as coal prices register consistent declines, ii) lower financial charges amid continued deleveraging and iii) improved operating margins as the company focuses on curtailing its transportation costs. The strong financial performance as well as continued early debt retirement should also put to rest concerns over the financial strength of the company where we expect MLCF’s Debt / Asset to stand at 31% (D/E: 60%) in FY15 from 40% (D/E: 89%) in Mar’14. With a target price of PKR50/sh  :ohmy:, the scrip offers an upside of 79% from current levels – BUY!

BMA
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on October 11, 2014, 07:03:37 PM

In Focus
Maple Leaf Cement Company Limited (MLCF): On an upward trajectory!

   A turnaround story in the making, we expect Maple Leaf Cement Factory Limited (MLCF) to significantly outperform peers as earnings traction in FY15 confluences with dissipating risks. FY15 earnings are expected to clock in at PKR3.4bn (EPS: PKR6.5), a growth of 22%YoY on the back of i) improving gross margins (GMs) as coal prices register consistent declines, ii) lower financial charges amid continued deleveraging and iii) improved operating margins as the company focuses on curtailing its transportation costs. The strong financial performance as well as continued early debt retirement should also put to rest concerns over the financial strength of the company where we expect MLCF’s Debt / Asset to stand at 31% (D/E: 60%) in FY15 from 40% (D/E: 89%) in Mar’14. With a target price of PKR50/sh  :ohmy:, the scrip offers an upside of 79% from current levels – BUY!

BMA
:D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on October 11, 2014, 08:00:31 PM
Not agreed
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Ali135 on October 11, 2014, 08:43:19 PM

In Focus
Maple Leaf Cement Company Limited (MLCF): On an upward trajectory!

   A turnaround story in the making, we expect Maple Leaf Cement Factory Limited (MLCF) to significantly outperform peers as earnings traction in FY15 confluences with dissipating risks. FY15 earnings are expected to clock in at PKR3.4bn (EPS: PKR6.5), a growth of 22%YoY on the back of i) improving gross margins (GMs) as coal prices register consistent declines, ii) lower financial charges amid continued deleveraging and iii) improved operating margins as the company focuses on curtailing its transportation costs. The strong financial performance as well as continued early debt retirement should also put to rest concerns over the financial strength of the company where we expect MLCF’s Debt / Asset to stand at 31% (D/E: 60%) in FY15 from 40% (D/E: 89%) in Mar’14. With a target price of PKR50/sh  :ohmy:, the scrip offers an upside of 79% from current levels – BUY!

BMA

lagta hai koe phas gaya hai MLCF mai . :p
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Irfankhan on October 11, 2014, 08:46:13 PM

In Focus
Maple Leaf Cement Company Limited (MLCF): On an upward trajectory!

   A turnaround story in the making, we expect Maple Leaf Cement Factory Limited (MLCF) to significantly outperform peers as earnings traction in FY15 confluences with dissipating risks. FY15 earnings are expected to clock in at PKR3.4bn (EPS: PKR6.5), a growth of 22%YoY on the back of i) improving gross margins (GMs) as coal prices register consistent declines, ii) lower financial charges amid continued deleveraging and iii) improved operating margins as the company focuses on curtailing its transportation costs. The strong financial performance as well as continued early debt retirement should also put to rest concerns over the financial strength of the company where we expect MLCF’s Debt / Asset to stand at 31% (D/E: 60%) in FY15 from 40% (D/E: 89%) in Mar’14. With a target price of PKR50/sh  :ohmy:, the scrip offers an upside of 79% from current levels – BUY!

BMA

lagta hai koe phas gaya hai MLCF mai . :p

Bhai do you think MLCF canbe lower then 25 ? would they suddenly close down the company? kindly share your info.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on October 11, 2014, 09:39:19 PM
maple mein tu sb hi "phansay" huay hain  :crying_anim02: :laugh:
meinay ooper hee wapas karna hai busssss
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Irfankhan on October 11, 2014, 10:10:06 PM
maple mein tu sb hi "phansay" huay hain  :crying_anim02: :laugh:
meinay ooper hee wapas karna hai busssss
I believe it will run.
BMA is also not bad in analyisis and Valueestimater idea works, not very quick though but it works unless something wrong happens with company.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on October 11, 2014, 11:08:02 PM
Nothing is impossible in stock market
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alidxb on October 11, 2014, 11:51:48 PM
Nothing is impossible in stock market
Yes Good payout is impossible for this group. :console:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on October 12, 2014, 01:01:31 PM
Hoping for best
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ValueInvestor on October 12, 2014, 08:20:52 PM
maple mein tu sb hi "phansay" huay hain  :crying_anim02: :laugh:
meinay ooper hee wapas karna hai busssss
I believe it will run.
BMA is also not bad in analyisis and Valueestimater idea works, not very quick though but it works unless something wrong happens with company.

Your observation is correct.

The way I understand it, most of the ideas of Valueestimator are "Deep Value Shares". Difficulty with these investments is it takes time for these "equities" to recognize their value.  And sometime they don't even recognize their true value because of many other reasons and turn into Value Trap.

SBM, Poker and Valueetimator all like Maple Leaf, one of the problem with Maple Leaf is "Owners Reputation", people do not believe them.

SBM, Poker and Valueetimator would love your comments. Thank you.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on October 21, 2014, 06:37:30 PM
result tomorrow.. lets c

 :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: U.Khan on October 21, 2014, 07:45:14 PM
result tomorrow.. lets c

 :fingerscrossed1:

SBM bhai what are the hopes?? disappointed last time ???
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Farzooq on October 22, 2014, 02:53:26 PM
http://www.kse.com.pk/newsattachment/059193.pdf

1q eps 1.03 below expectations
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on October 22, 2014, 03:32:36 PM
tax kay rollay hain
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on October 22, 2014, 09:32:40 PM
Below expectation result
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on October 22, 2014, 10:37:17 PM
Below expectation result
Sara roola Tax kar hay. Aur is saal Mlcf Tax k Girdap say bahir ata nazar nehi aa reha.
 :@ :( :confused1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Sharoze123 on October 29, 2014, 10:35:02 AM
Directors said that they are confident that Maple will be able to start giving out dividends  starting from this Financial year. Laao in 2015?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on October 29, 2014, 06:36:09 PM
http://www.kmlg.com/kmlg/docs/mlcfl/mlcfl_q1_sep_2014.pdf
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Sharoze123 on October 30, 2014, 12:10:41 AM
Going to Maple's AGM tomorrow at 11. Anyone want me to ask them a specific question?  I will post their answer here.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ApnaPlot.pk on October 30, 2014, 12:17:21 AM
Yes, please ask these questions.

1) When will they start giving out dividends? They trade at much lower P/E ratio (as compared to FCCL) due to their lack of dividend payout policy
2) Are banks still stopping them from giving dividends, they might have agreed to strong cash-sweep language from banks during their tough years.
3) Might not be relevant: what did their parents (KTML) do with the cash they raised by selling MLCF shares?

Thanks.

Salaam.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on October 30, 2014, 12:25:53 AM
Yes, please ask these questions.

1) When will they start giving out dividends? They trade at much lower P/E ratio (as compared to FCCL) due to their lack of dividend payout policy
2) Are banks still stopping them from giving dividends, they might have agreed to strong cash-sweep language from banks during their tough years.
3) Might not be relevant: what did their parents (KTML) do with the cash they raised by selling MLCF shares?

Thanks.

Salaam.

ktml invested that in mutual fund units, the money is still invested in that fund as of 30 september

I guess I want to know the same as apnaplot above. And maybe do they have any expansion/ diversification plans..

I have more questions for ktml though .. if you can attend that too ..
I want to know how they can ask for approval from shareholders to set up an investment company worth 2 billion rupees while say that they dont have enough
cash for wc and cant pay dividends.


Regards,
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: m.omar on October 30, 2014, 12:26:38 AM
Going to Maple's AGM tomorrow at 11. Anyone want me to ask them a specific question?  I will post their answer here.
Pls get explanation on high taxation will it apply on future quarters as well?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on October 30, 2014, 12:54:08 AM
Yes how come they are provisioning 30%insteasd of 17%
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Sharoze123 on October 30, 2014, 08:41:03 AM
Yes how come they are provisioning 30%insteasd of 17%

The actual charge is near about 17%, the remainder is the deferred tax liability charge since the company had higher capex in 2014( which was primarily spent on 660mn worth of new plant machinery).

For the benefit of members other than seniors like SBM who are aware of it's workings:

Deferred tax charge arises because government does not allow depreciation of plant and machinery as a tax allowable expense. ( deductible from taxable profit of the year as an expense)
Instead government gives 'capital allowances' as an expense which can be as much as 50% of the total machinery cost as an allowed expense in the first year. What happens then is that the company will pay lower tax for that year beacause it's accounting earnings will have depreciation as an expense( which would be much lower, let's say 10%) compared to government calculated 'taxable profit' which would have capital allowances as an expense( 50%).
But in future years, capital allowances will become lower and depreciation will eventually be higher than it. So later on, actual tax to be paid will be higher than the accounting earnings. Deferred tax is simply recording those future higher charges today so as to smooth out earnings in a way.
In no way is actual cash being paid or received in a deferred tax charge
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Sharoze123 on October 30, 2014, 12:57:11 PM
Okay guys, here are the key Takeaways from the AGM:


Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on October 30, 2014, 01:02:27 PM
thanks  :biggthumpup:  :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Just Another Guy on October 31, 2014, 09:55:39 AM
Okay guys, here are the key Takeaways from the AGM:

  • When will they start paying out dividends?
    Firstly you have to realize that the banks( not just the sukook providers) have formed a consortium in the sense that they had imposed a covenant on Maple that it has to pay back 50% of all original debt before it can begin to issue dividends. The directors expect upwards of 4bn Long term debt to be paid back this year and to finish the requirements of the covenant by March quarter. In effect they outlined how probable it is that dividends will flow from this year onwards.
  • Do they have any expansion/diversification plans?(SBM) (JAG-your question of a coal based captive power plant was also included in this).
    This was funny. Waleed Saigol joined both his hands and starting pleading. He said "  Nai bhai nai. We don't want to live in a debt filled environment anymore" and he said he realized how detrimental it is both for the company and for the shareholers. One guy then said key expansion will be beneficial so Maple should do it land follow Cherat. To which he replied" 20 rupay pe right bharnay ka mood hai?".
  • When do they expect debt repayment to last till and what level of gearing are they aiming at?
    Well since they are paying around 4-5bn debt every year( some in the form of early debt repayments) and since debt repayment is priority so one can easily infer time period from that. As for the desired gearing level, they didn't commit to a specific number except they did say keh they want a low leveraged company for now, however  there will always be some amount of debt -obviously.
  • Available Tax losses to offset future taxable profits-
    They have about 7bn worth of carried forwards tax losses still available.
  • Contract with Railways-
    Maple has a contract according to which certain trains will be earmarked for exclusive transport of Maple's cement out of the factory, and coal into the factory. This will also help reduce distribution costs to Karachi port when and if Pakistani cement exports start picking up. This cost will be provided through maples working capital and there are heavy penalties if either maple or the railway do not perform according to the contract. Estimated annual savings made according to the company- 1 eps/sh.
  • White cement and future demand(White cement is 7% of Maples sales and is a very high margin product, also maple has 90% market share )
    Nothing concrete on this topic as white cement market is a niche one and it is mostly used as a fitting in between tiles. The only white cement building I know in Lahore is Wapda. But they said they have a 3 year plan, not expecting much from it though.

  • Will they keep on provisioning higher effective taxation charges?
    The answer to that is, Yes. But the important point to remember here is that this is not Actual CASH payment. Under Alternative tax regime, they show 17% tax rate on accounting profits- but this is not the tax the company actually pays. As for the remainder tax- that is all deferred taxation and you should read the explanation I have given for this taxation in the above post!

Thanks and JazakAllah :)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on October 31, 2014, 12:58:34 PM
Okay guys, here are the key Takeaways from the AGM:

  • When will they start paying out dividends?
    Firstly you have to realize that the banks( not just the sukook providers) have formed a consortium in the sense that they had imposed a covenant on Maple that it has to pay back 50% of all original debt before it can begin to issue dividends. The directors expect upwards of 4bn Long term debt to be paid back this year and to finish the requirements of the covenant by March quarter. In effect they outlined how probable it is that dividends will flow from this year onwards.
  • Do they have any expansion/diversification plans?(SBM) (JAG-your question of a coal based captive power plant was also included in this).
    This was funny. Waleed Saigol joined both his hands and starting pleading. He said "  Nai bhai nai. We don't want to live in a debt filled environment anymore" and he said he realized how detrimental it is both for the company and for the shareholers. One guy then said key expansion will be beneficial so Maple should do it land follow Cherat. To which he replied" 20 rupay pe right bharnay ka mood hai?".
  • When do they expect debt repayment to last till and what level of gearing are they aiming at?
    Well since they are paying around 4-5bn debt every year( some in the form of early debt repayments) and since debt repayment is priority so one can easily infer time period from that. As for the desired gearing level, they didn't commit to a specific number except they did say keh they want a low leveraged company for now, however  there will always be some amount of debt -obviously.
  • Available Tax losses to offset future taxable profits-
    They have about 7bn worth of carried forwards tax losses still available.
  • Contract with Railways-
    Maple has a contract according to which certain trains will be earmarked for exclusive transport of Maple's cement out of the factory, and coal into the factory. This will also help reduce distribution costs to Karachi port when and if Pakistani cement exports start picking up. This cost will be provided through maples working capital and there are heavy penalties if either maple or the railway do not perform according to the contract. Estimated annual savings made according to the company- 1 eps/sh.
  • White cement and future demand(White cement is 7% of Maples sales and is a very high margin product, also maple has 90% market share )
    Nothing concrete on this topic as white cement market is a niche one and it is mostly used as a fitting in between tiles. The only white cement building I know in Lahore is Wapda. But they said they have a 3 year plan, not expecting much from it though.

  • Will they keep on provisioning higher effective taxation charges?
    The answer to that is, Yes. But the important point to remember here is that this is not Actual CASH payment. Under Alternative tax regime, they show 17% tax rate on accounting profits- but this is not the tax the company actually pays. As for the remainder tax- that is all deferred taxation and you should read the explanation I have given for this taxation in the above post!

Thanks for such valuable inputs.

Please can you explain further the 7 billion tax losses. is it from the meeting or from the annual report.  The unused tax losses should reduce the taxation. In my view if they have tax losses, they can apply only the 17% act untill the time tax losses are absorbed.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Sharoze123 on November 02, 2014, 05:48:31 PM


Thanks for such valuable inputs.

Please can you explain further the 7 billion tax losses. is it from the meeting or from the annual report.  The unused tax losses should reduce the taxation. In my view if they have tax losses, they can apply only the 17% act untill the time tax losses are absorbed.

The chairman was incorrect when quoting me the actual taxable losses available to be carried forward. Note 32.6 of 2014 Annual report: Tax Losses available for carried forward as at 30 June 2014 aggregated to Rs/. 6070mn.

Also, you are correct when saying that they can only apply 17% tax on accounting profits until the taxable losses are used up. After that it's full tax payment for them.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on November 02, 2014, 06:14:19 PM


Thanks for such valuable inputs.

Please can you explain further the 7 billion tax losses. is it from the meeting or from the annual report.  The unused tax losses should reduce the taxation. In my view if they have tax losses, they can apply only the 17% act untill the time tax losses are absorbed.

The chairman was incorrect when quoting me the actual taxable losses available to be carried forward. Note 32.6 of 2014 Annual report: Tax Losses available for carried forward as at 30 June 2014 aggregated to Rs/. 6070mn.

Also, you are correct when saying that they can only apply 17% tax on accounting profits until the taxable losses are used up. After that it's full tax payment for them.
Despite of taxable losses over 6 billion why Mlcf charged huge provision in the annual result even when they were not bound to charge minimum tax of 17% on accounting income.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on November 03, 2014, 04:13:36 PM
Cements and textile are the major benefishries of any Dr cut
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: saad on November 07, 2014, 01:27:18 AM
good upside potential in medium term , must buy on dips
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on November 07, 2014, 07:38:39 AM
at pe of 8, its value is 44.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Loto or Photo on November 07, 2014, 10:46:49 AM
INSHALLAH cement buy ker lain specially MLCF and FCCL
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: saad on November 12, 2014, 01:58:11 AM
MLCF FOR TOMZ , KEEP IN WATCH
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ab_hassan on November 12, 2014, 03:26:09 PM
moved well
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Loto or Photo on November 17, 2014, 04:05:35 AM
INSHALLAH cement buy ker lain specially MLCF and FCCL

Lets see how much MLCF goes up, Next MP main b INSHALLAH DR 50bs point ho ga, it should cross Rs.40
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on November 17, 2014, 08:25:00 AM
More than saving of interest cost due to reduction in intetest rates, demand of cement will pick up in d local market n that will benifit companies with low utilization rates.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: PK on November 17, 2014, 07:18:34 PM
More than saving of interest cost due to reduction in intetest rates, demand of cement will pick up in d local market n that will benifit companies with low utilization rates.
Holding it for 40 .. 45+ although it's been bit long since m holding it .. but ..i hope this time it wont disappoint  :D
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on November 17, 2014, 08:45:04 PM
Excellent cap today
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: m.omar on November 17, 2014, 08:55:11 PM
Excellent cap today
Tks to meezan fund for today's cap
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stockz_123 on November 18, 2014, 02:22:05 AM
laooooo mlcf news highs today.....   :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: zakhan76 on November 19, 2014, 06:27:49 PM
At the current price level of Rs 35.42, the stock of MLCF is trading 15% lower from our DCF
based June'15 target price of Rs 40/share. Though we have positive stance for the scrip but
caution is warranted.

http://investorguide360.com/wp-content/uploads/2014/11/Azee-Research8.pdf
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Sharoze123 on November 29, 2014, 05:25:48 AM
Okay guys, here are the key Takeaways from the AGM:

  • When will they start paying out dividends?
    Firstly you have to realize that the banks( not just the sukook providers) have formed a consortium in the sense that they had imposed a covenant on Maple that it has to pay back 50% of all original debt before it can begin to issue dividends. The directors expect upwards of 4bn Long term debt to be paid back this year and to finish the requirements of the covenant by March quarter. In effect they outlined how probable it is that dividends will flow from this year onwards.
  • Do they have any expansion/diversification plans?(SBM) (JAG-your question of a coal based captive power plant was also included in this).
    This was funny. Waleed Saigol joined both his hands and starting pleading. He said "  Nai bhai nai. We don't want to live in a debt filled environment anymore" and he said he realized how detrimental it is both for the company and for the shareholers. One guy then said key expansion will be beneficial so Maple should do it land follow Cherat. To which he replied" 20 rupay pe right bharnay ka mood hai?".
  • When do they expect debt repayment to last till and what level of gearing are they aiming at?
    Well since they are paying around 4-5bn debt every year( some in the form of early debt repayments) and since debt repayment is priority so one can easily infer time period from that. As for the desired gearing level, they didn't commit to a specific number except they did say keh they want a low leveraged company for now, however  there will always be some amount of debt -obviously.
  • Available Tax losses to offset future taxable profits-
    They have about 7bn worth of carried forwards tax losses still available.
  • Contract with Railways-
    Maple has a contract according to which certain trains will be earmarked for exclusive transport of Maple's cement out of the factory, and coal into the factory. This will also help reduce distribution costs to Karachi port when and if Pakistani cement exports start picking up. This cost will be provided through maples working capital and there are heavy penalties if either maple or the railway do not perform according to the contract. Estimated annual savings made according to the company- 1 eps/sh.
  • White cement and future demand(White cement is 7% of Maples sales and is a very high margin product, also maple has 90% market share )
    Nothing concrete on this topic as white cement market is a niche one and it is mostly used as a fitting in between tiles. The only white cement building I know in Lahore is Wapda. But they said they have a 3 year plan, not expecting much from it though.

  • Will they keep on provisioning higher effective taxation charges?
    The answer to that is, Yes. But the important point to remember here is that this is not Actual CASH payment. Under Alternative tax regime, they show 17% tax rate on accounting profits- but this is not the tax the company actually pays. As for the remainder tax- that is all deferred taxation and you should read the explanation I have given for this taxation in the above post!



Thanks for such valuable inputs.

Please can you explain further the 7 billion tax losses. is it from the meeting or from the annual report.  The unused tax losses should reduce the taxation. In my view if they have tax losses, they can apply only the 17% act untill the time tax losses are absorbed.

The chairman was incorrect when quoting me the actual taxable losses available to be carried forward. Note 32.6 of 2014 Annual report: Tax Losses available for carried forward as at 30 June 2014 aggregated to Rs/. 6070mn.

Also, you are correct when saying that they can only apply 17% tax on accounting profits until the taxable losses are used up. After that it's full tax payment for them.
Despite of taxable losses over 6 billion why Mlcf charged huge provision in the annual result even when they were not bound to charge minimum tax of 17% on accounting income.

Dehan bhai I just saw your post, must have accidentally skipped it. Your answer is amongst the last point of my AGM question, that's why I've reposted it. It's mostly deferred tax.
 I would also like to add one thing that the Alternative 17% tax regime is applied retrospectively, meaning that although the new structure became applicable under the Finance Bill in Maples 2014's last quarter, Provision for tax has to be made on all the previous 3 quarters as well. The accounting entries are all f**ked up.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on November 29, 2014, 03:13:58 PM
Easily cross 40 next week inshaallah
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on December 09, 2014, 09:25:43 PM
Easily cross 40 next week inshaallah
lao maple an 42+
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on December 09, 2014, 09:43:35 PM
eps of 1.75 is expected after taxation of 17%.

50 target seems achievable within december.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hammad ahmed on December 10, 2014, 12:20:44 AM
plz nadeem bhai,,iwant to take entry in mlcf,fecto,avn and berg,,at what price i will,plz guide
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Sharoze123 on December 10, 2014, 02:38:41 PM
eps of 1.75 is expected after taxation of 17%.

50 target seems achievable within december.

You shouldn't assume a 17% flat tax rate, add around 10%-8% more for Deferred taxation. The taxation charge could be higher or lower than this figure, it all depends on the amount of capex maple incurs and we can only guess.
Prudently, Eps between 1.3-1.6 seems achievable. Laoo Maple 45.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on December 10, 2014, 06:25:32 PM
plz nadeem bhai,,iwant to take entry in mlcf,fecto,avn and berg,,at what price i will,plz guide
fecto 74-75' avn 30.5-31' mlcf 39-39.50 I think
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: naveed on December 10, 2014, 06:33:32 PM
When will it reach 100  :lazy2: :lazy2: :lazy2: :lazy2: its peers have skyrocketed since last year but this chap has become a tortoise who doesn't even wanna win any race.  Wake him up fellas and get it above 100 somehow
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on December 11, 2014, 04:06:10 PM
Easily cross 40 next week inshaallah
lao maple an 42+
TP of 42 achieved now must do profit taking in every upper movement
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: twahidi on December 18, 2014, 08:20:03 PM
What is Short to Medium TP of MLCF? Elixir is saying 52? Is it realistic?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on December 23, 2014, 10:25:52 PM
What is Short to Medium TP of MLCF? Elixir is saying 52? Is it realistic?

2015 june end, eps 6.88, target price 55
2016 june end, eps 7.5, target 67.5
2017 june end, eps 8.5, target 85

these are realistic estimates of eps and share price assuming current business environment.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Salammembers on December 23, 2014, 10:38:28 PM
What is Short to Medium TP of MLCF? Elixir is saying 52? Is it realistic?

2015 june end, eps 6.88, target price 55
2016 june end, eps 7.5, target 67.5
2017 june end, eps 8.5, target 85

these are realistic estimates of eps and share price assuming current business environment.

matbal yeh b buy with conviction :skeptic:
phir entry on dips laaytaay haay :s1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stockz_123 on December 31, 2014, 11:29:32 AM
MLCF: Cementing gains!

MLCF has gained 47% since our Buy call issued on Oct 28'14. On the back of continued positives, we update our investment case for MLCF where we raise FY15F earnings by 6% to PkR6.33/share while upping our 3 year NPAT CAGR (FY14-17) to 27% vs. 22%, previously. Together with a lower discounting factor, we raise our Jun'15 TP by 24% to PkR56.24/share. Resplendent growth of over 15%YoY in the company's total dispatches during 2QFY15 (as per provisional numbers), is a level above the peers, also promises to boost the company's bottomline in 2QFY15 as cement prices remained stable and input costs further dived southwards. We reiterate that MLCF is in the process of lowering its borrowing costs in the coming quarters through swift deleveraging which can enable a surprise dividend of PkR1.0-1.5/share alongside full-year FY15 results. MLCF trades at a FY15F P/E of 6.95x and offers 28% upside to our revised TP of PkR56.24/share.Buy!                      .

Dream run to continue! MLCF has gained 47% since our Buy call issued on Oct 28'14 ("MLCF: Re-rating on the horizon!’). The dream run for Pakistan Cements in general and MLCF in particular is expected to continue as input prices are expected to remain subdued - underpinned by int'l coal prices lower by 16%CYTD and the recent reduction in power tariff by PkR2.92/unit following lower int'l oil prices. The latter is expected to be particularly beneficial for MLCF which derives a ~70% portion of its energy requirement through the national grid. 

Double-digit growth in 2Q dispatches! As per recently issued provisional cement dispatch figures, majority of the cement players have witnessed YoY escalation in their total dispatches, with MLCF exhibiting the highest growth. Specifically, the company's total dispatches went up from ~631k tons in 2QFY14 to ~726k tons in 2QFY15, up by 15%YoY. With this translating into ~80% capacity utilization, MLCF appears to still have room to cater to rising demand. Together with rising margins, we expect FY15F earnings to clock in at PkR3.34bn (EPS: PkR6.33), up by 18%YoY. These factors should also drive a 3yr (FY14-FY17F) NPAT CAGR of 27%, up from 22% previously.

Investment perspective: MLCF's return of 47% since coverage re-initiation has comfortably outpaced the Cement sector's 20% return in the same period. We expect MLCF to continue outperforming with the next trigger in sight being the anticipated cut in interest rates in the Jan'15 MPS (MLCF's FY14 D/E: 139%) which dovetails with attractive valuations (FY15F P/E: 6.95x) and possibility of a dividend alongside full-year FY15F results. MLCF remains a preferred play within the Cement space where our revised TP of PkR56.24/share offers 28% upside. Buy!

AKD
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Sharoze123 on December 31, 2014, 02:46:16 PM
MLCF: Cementing gains!

MLCF has gained 47% since our Buy call issued on Oct 28'14. On the back of continued positives, we update our investment case for MLCF where we raise FY15F earnings by 6% to PkR6.33/share while upping our 3 year NPAT CAGR (FY14-17) to 27% vs. 22%, previously. Together with a lower discounting factor, we raise our Jun'15 TP by 24% to PkR56.24/share. Resplendent growth of over 15%YoY in the company's total dispatches during 2QFY15 (as per provisional numbers), is a level above the peers, also promises to boost the company's bottomline in 2QFY15 as cement prices remained stable and input costs further dived southwards. We reiterate that MLCF is in the process of lowering its borrowing costs in the coming quarters through swift deleveraging which can enable a surprise dividend of PkR1.0-1.5/share alongside full-year FY15 results. MLCF trades at a FY15F P/E of 6.95x and offers 28% upside to our revised TP of PkR56.24/share.Buy!                      .

Dream run to continue! MLCF has gained 47% since our Buy call issued on Oct 28'14 ("MLCF: Re-rating on the horizon!’). The dream run for Pakistan Cements in general and MLCF in particular is expected to continue as input prices are expected to remain subdued - underpinned by int'l coal prices lower by 16%CYTD and the recent reduction in power tariff by PkR2.92/unit following lower int'l oil prices. The latter is expected to be particularly beneficial for MLCF which derives a ~70% portion of its energy requirement through the national grid. 

Double-digit growth in 2Q dispatches! As per recently issued provisional cement dispatch figures, majority of the cement players have witnessed YoY escalation in their total dispatches, with MLCF exhibiting the highest growth. Specifically, the company's total dispatches went up from ~631k tons in 2QFY14 to ~726k tons in 2QFY15, up by 15%YoY. With this translating into ~80% capacity utilization, MLCF appears to still have room to cater to rising demand. Together with rising margins, we expect FY15F earnings to clock in at PkR3.34bn (EPS: PkR6.33), up by 18%YoY. These factors should also drive a 3yr (FY14-FY17F) NPAT CAGR of 27%, up from 22% previously.

Investment perspective: MLCF's return of 47% since coverage re-initiation has comfortably outpaced the Cement sector's 20% return in the same period. We expect MLCF to continue outperforming with the next trigger in sight being the anticipated cut in interest rates in the Jan'15 MPS (MLCF's FY14 D/E: 139%) which dovetails with attractive valuations (FY15F P/E: 6.95x) and possibility of a dividend alongside full-year FY15F results. MLCF remains a preferred play within the Cement space where our revised TP of PkR56.24/share offers 28% upside. Buy!

AKD

AKD is finally on the same page as I've been advocating on this forum since June. Their a bit late in the game, but Maple's got tremendous potential as of yet. Highly likely for a dividend announcement come annual results.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on December 31, 2014, 10:43:57 PM
Abhi tu party shoro hui hay,............

release of 2nd quarter report, would lead to two three caps in my view as they have paid 1.6 bn during oct to december.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Irfankhan on January 01, 2015, 02:56:11 AM
Abhi tu party shoro hui hay,............

release of 2nd quarter report, would lead to two three caps in my view as they have paid 1.6 bn during oct to december.
Im wondering PIOC price 85 and Maple 44 ?
I don't understand it. kya PIOC 85 par rahay ga aur Maple 60-65 ?
It looks like this in next 6 months. whats your opinoin
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Loto or Photo on January 01, 2015, 03:20:52 AM
Abhi tu party shoro hui hay,............

release of 2nd quarter report, would lead to two three caps in my view as they have paid 1.6 bn during oct to december.
Im wondering PIOC price 85 and Maple 44 ?
I don't understand it. kya PIOC 85 par rahay ga aur Maple 60-65 ?
It looks like this in next 6 months. whats your opinoin

bhai ankhain band kr kay Cement lay lo
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: twahidi on January 04, 2015, 11:47:26 PM
One should enter at these level, Or its already too high? please advise.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hasnain0099 on January 05, 2015, 01:31:58 AM
One should enter at these level, Or its already too high? please advise.
It would get even higher as expectations for a discount rate cut builds around March 2015. However, there should be a correction with the release of financial results because I believe that the market has overpriced the expected revaluation of DR Cut in the Share Price.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on January 11, 2015, 10:22:46 AM
Between 46-47 good entry level
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on January 16, 2015, 12:20:55 AM
accumulation is going on.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on January 20, 2015, 04:44:07 PM
Aggressive buying by two prominent member of kse today hopefully touch 55 soon must buy tomorrow for quick gain of 3-4 Rs
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Loto or Photo on January 20, 2015, 09:48:54 PM
One should enter at these level, Or its already too high? please advise.
It would get even higher as expectations for a discount rate cut builds around March 2015. However, there should be a correction with the release of financial results because I believe that the market has overpriced the expected revaluation of DR Cut in the Share Price.

husnain bhai I already mentioned 3 weeks ago that BBs are creating hype for DR cut to bring correction in mkt before result. So play safe with strict stop loss
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on January 20, 2015, 09:53:05 PM
Sold today early at 48.95 and missed the rally , still looking very strong ????
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stockz_123 on January 21, 2015, 12:09:36 PM
AKD Daily

 

MLCF:Positives push for payouts

Maple Leaf Cement (MLCF) is scheduled to announce its 2QFY15 results on 27th Jan'2015, where we expect the company to post net earnings of PkR0.81bn (EPS: PkR1.54) in 2QFY15, down by 12%YoY. Pre-tax earnings sighted to grow by a handsome 24%YoY to PkR1.16bn during the quarter under consideration on the back of 1) swelling of top-line due to resplendent growth in both the local and exports provisional dispatches, in addition to the stable cement prices, 2) cost of sales to fatten comparatively lower to the increment in sales, 3) agreement with PR to bring in further cost savings, and 4) swift deleveraging, along with DR cut in the last MPS is expected to ease off borrowing costs. Subsequently, GP margins are anticipated to improve to 37.5% in 2QFY15, up by 220bps against 2QFY14. However, bottom-line is expected to be hammered by higher effective tax rate (on the application of Alternate Corporative Tax (ACT)), which we assume to clock in at 30%. Consequently, 1HY15 net earnings are expected to settle at PkR1.36bn (EPS: PkR 2.58), down by 8%YoY. Improved cash generation via operational efficiencies have trimmed down the company's gearing ratio, which was hovering over 135% at FY14. In relation to this, the company is on the verge of meeting its debt covenant, which restricted it from payouts to shareholders, therefore a payout for MLCF may soon be on card. With no dividend history in the recent past, we believe that a surprise dividend can be expected anytime, either in the half yearly result or the annual.

Effective tax rate might hinder exceptional performance: Maple Leaf Cement (MLCF) is scheduled to announce its 2QFY15 results on 27th Jan'2015, where we expect the company to post net earnings of PkR0.81bn (EPS: PkR1.54) in 2QFY15, down by 12%YoY vs. earnings of PkR0.93bn (EPS: PkR1.76) posted in 2QFY14. Pre-tax earnings is sighted to grow by a handsome 24%YoY to PkR1.16bn during the quarter under consideration on the back of 1) swelling of top-line by 9%YoY due to resplendent growth in both the local and exports provisional dispatches (+13%YoY), in addition to stable cement prices, 2) cost of sales to fatten comparatively lower to the increment in sales, stymied by the breaking of coal & oil prices, 3) agreement with PR to bring in further cost savings under both the direct costs head and distribution costs head, and 4) swift deleveraging, along with DR cut in the last MPS is expected to ease off borrowing costs. Subsequently, gross margins are anticipated to improve to 37.5% in 2QFY15, up by 220bps against 35.3% in 2QFY14. However, bottom-line is expected to be hammered by higher effective tax rate (on the application of Alternate Corporative Tax (ACT)), which we assume to clock in at 30%. Consequently, 1HY15 net earnings is expected to settle at PkR1.36bn (EPS: PkR 2.58) against PkR1.48bn (EPS: PkR2.81) in 1HFY14, down by 8%YoY. Again, the higher effective tax rate is set to erode the expected 32%YoY growth in the pre-tax earnings.

Any Dividend? The company after continuous deleveraging through generation of handsome cash via operational efficiencies have trimmed down its gearing ratio, which was hovering over 135% at FY14 end. In relation to this, the company is on the verge of meeting its debt covenant which restricting it from payouts to shareholders, therefore MLCF can announce a cash payout. With no dividend history in the recent past, we believe that a surprise dividend can be on the cards, either in the half yearly result or the annual.                .

 

Investment Perspective: Based on our TP of PkR56/sh, we currently have an ACCUMULATE stance on the scrip offering 11% upside potential(excluding any dividend announcement expected later in the year). The scrip trades at a forward PE of 7.95x. Expected cut in the upcoming MPS will give room for further upward revision as the company's DE ratio stands over 70% (one of the highest among big players), allowing them to reap the rewards of a low interest rate environment.


Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on January 21, 2015, 05:30:05 PM
AKD Daily
 
MLCF:Positives push for payouts


Maple Leaf Cement (MLCF) is scheduled to announce its 2QFY15 results on 27th Jan'2015, where we expect the company to post net earnings of PkR0.81bn (EPS: PkR1.54) in 2QFY15, down by 12%YoY. Pre-tax earnings sighted to grow by a handsome 24%YoY to PkR1.16bn during the quarter under consideration on the back of 1) swelling of top-line due to resplendent growth in both the local and exports provisional dispatches, in addition to the stable cement prices, 2) cost of sales to fatten comparatively lower to the increment in sales, 3) agreement with PR to bring in further cost savings, and 4) swift deleveraging, along with DR cut in the last MPS is expected to ease off borrowing costs. Subsequently, GP margins are anticipated to improve to 37.5% in 2QFY15, up by 220bps against 2QFY14. However, bottom-line is expected to be hammered by higher effective tax rate (on the application of Alternate Corporative Tax (ACT)), which we assume to clock in at 30%. Consequently, 1HY15 net earnings are expected to settle at PkR1.36bn (EPS: PkR 2.58), down by 8%YoY. Improved cash generation via operational efficiencies have trimmed down the company's gearing ratio, which was hovering over 135% at FY14. In relation to this, the company is on the verge of meeting its debt covenant, which restricted it from payouts to shareholders, therefore a payout for MLCF may soon be on card. With no dividend history in the recent past, we believe that a surprise dividend can be expected anytime, either in the half yearly result or the annual.
Effective tax rate might hinder exceptional performance: Maple Leaf Cement (MLCF) is scheduled to announce its 2QFY15 results on 27th Jan'2015, where we expect the company to post net earnings of PkR0.81bn (EPS: PkR1.54) in 2QFY15, down by 12%YoY vs. earnings of PkR0.93bn (EPS: PkR1.76) posted in 2QFY14. Pre-tax earnings is sighted to grow by a handsome 24%YoY to PkR1.16bn during the quarter under consideration on the back of 1) swelling of top-line by 9%YoY due to resplendent growth in both the local and exports provisional dispatches (+13%YoY), in addition to stable cement prices, 2) cost of sales to fatten comparatively lower to the increment in sales, stymied by the breaking of coal & oil prices, 3) agreement with PR to bring in further cost savings under both the direct costs head and distribution costs head, and 4) swift deleveraging, along with DR cut in the last MPS is expected to ease off borrowing costs. Subsequently, gross margins are anticipated to improve to 37.5% in 2QFY15, up by 220bps against 35.3% in 2QFY14. However, bottom-line is expected to be hammered by higher effective tax rate (on the application of Alternate Corporative Tax (ACT)), which we assume to clock in at 30%. Consequently, 1HY15 net earnings is expected to settle at PkR1.36bn (EPS: PkR 2.58) against PkR1.48bn (EPS: PkR2.81) in 1HFY14, down by 8%YoY. Again, the higher effective tax rate is set to erode the expected 32%YoY growth in the pre-tax earnings.
Any Dividend? The company after continuous deleveraging through generation of handsome cash via operational efficiencies have trimmed down its gearing ratio, which was hovering over 135% at FY14 end. In relation to this, the company is on the verge of meeting its debt covenant which restricting it from payouts to shareholders, therefore MLCF can announce a cash payout. With no dividend history in the recent past, we believe that a surprise dividend can be on the cards, either in the half yearly result or the annual.                .
 
Investment Perspective: Based on our TP of PkR56/sh, we currently have an ACCUMULATE stance on the scrip offering 11% upside potential(excluding any dividend announcement expected later in the year). The scrip trades at a forward PE of 7.95x. Expected cut in the upcoming MPS will give room for further upward revision as the company's DE ratio stands over 70% (one of the highest among big players), allowing them to reap the rewards of a low interest rate environment.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aleeimran on January 23, 2015, 04:49:42 PM
http://investorguide360.com/wp-content/uploads/2015/01/Result-Previews_MLCF-and-ACPL.pdf

Laooo MLCF TP 62
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on January 23, 2015, 05:56:39 PM
Result Preview
 
MLCF: Higher tax rate to spoil stellar operating performance
Result expectation
Maple Leaf Cement Ltd (MLCF) is scheduled to announce its 1HFY15 financial results on January 27, 2015. We expect the company to post EPS of PKR2.91, up by a slight 3% YoY. 2QFY15 EPS is estimated at PKR1.87, up 7% YoY and 78% QoQ.
Strong dispatch growth of 15% to boost top line
As per the provisional numbers, MLCF posted strong overall growth in dispatches of 15% YoY and 17% QoQ during the period. Exports of the company have increased significantly by 34% YoY largely due to better export sales to India. Local sales have       also remained robust, rising by 10% YoY, in line with general industry trend. Consequently, we expect top line of the company to grow by 12% YoY.
Deleveraging and lower fuel costs to improve operating earnings…
We expect gross margins of the company to improve by 2pp YoY as fuel costs are estimated to decline by 18% per ton owing to lower coal costs (-21% YoY) and reduced transportation costs post agreement with railway. This shall result in overall reduction in production costs which are expected to decline to PKR4,515/ton, down 5% YoY. Interest costs are also expected to decline by 22% YoY as the company has already retired PKR3.1bn in 9MCY14 with further repayment of PKR~575mn expected during the quarter. 
…But higher effective tax rate to spoil operating performance growth
While operating performance of the company is expected to remain stellar during the quarter as PBT is estimated to rise by 36% YoY. Higher tax burden after the imposition of Alternative Corporate Tax (ACT) in FY15 budget will likely nullify strong operating performance of the company as we expect effective tax rate to clock in at 20% during the quarter as opposed to tax reversal in the same period last year.
Although MLCF has obtained a stay order from local court on the payment of ACT tax, our channel checks in the company suggests that the company is likely to book ACT tax in 2QFY15, by taking the conservative route. We therefore expect earnings of MLCF to rise modestly by 7% YoY in 2Q.
Investment case
Since our last call, MLCF has rallied 19.2%, outperforming index and cement sector by 8.6% and 7.8% respectively. Our Jun-15 PT of PKR58/sh, still offers a decent upside of 20% from current levels, we maintain BUY call on the scrip as it still trades at an attractive FY15 PER of 6.7x, despite applying ACT in our assumptions.

elixir
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Taimu123 on January 24, 2015, 09:26:50 AM
its lookin' gud for 60 till end of march and start of april 2015.... :rtfm:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on January 24, 2015, 04:47:49 PM
Monday ko MLCF laoo hay IN SHA ALLAH cap
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Owais on January 25, 2015, 06:34:09 PM
inshAllah :good :good :good
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on January 26, 2015, 12:25:32 AM
I want to invest in MLCF tomorrow. Please advise if I should buy immediately in the market pre open to avoid the possibility of an upper lock and not being able to buy tomorrow.

Seniors please advise on the best strategy to take position in this scrip tomorrow. Your input would be greatly appreciated, thank you  :s1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on January 26, 2015, 10:29:12 AM
abhi risk lia ja sakta hai
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on January 26, 2015, 12:23:21 PM
abhi risk lia ja sakta hai

Facing high resistance at 50. Waiting for a slight dip before taking position.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: twahidi on January 26, 2015, 02:13:18 PM
What is best strategy Seniors? Take Profit here at 50.40 and buy at correction? Or just Hold?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aleeimran on January 26, 2015, 03:10:17 PM
What is best strategy Seniors? Take Profit here at 50.40 and buy at correction? Or just Hold?
there is some news about announcement of 0.75 - 1 per share of dividends along with half yearly result so you can hold and wait for result.....if the result come up to the expectation with div then it will surely touch 55 in short term.......
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on January 26, 2015, 04:20:26 PM
Please share the result of MLCF on this thread. Thanks
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: atifb on January 26, 2015, 05:35:17 PM
will i can buy at this level
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: kpall99 on January 27, 2015, 03:16:47 PM
MLCF 10% Dividend  ;)

http://kse.com.pk/newsattachment/061923.pdf



Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on January 27, 2015, 04:55:02 PM
Bought 14k at 50.99 and then down
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aleeimran on January 27, 2015, 05:24:00 PM
Bought 14k at 50.99 and then down
no prob dear, result is Ok & fit while 10% Div is a surprise as most research report exclude the possibility of such div or restrict it to 7.5% still as a remote possibility...........the problem is that the stock is in the hands of 'Punters' who do not want holdings in the hand of general public and thus playing with it for minor gains exactly in the same manner as they are playing with AICL.......hold tightly as it is sure to go to 53 and then 55 within this Qtr...
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stock analyst on January 27, 2015, 05:33:55 PM
Bought 14k at 50.99 and then down
no prob dear, result is Ok & fit while 10% Div is a surprise as most research report exclude the possibility of such div or restrict it to 7.5% still as a remote possibility...........the problem is that the stock is in the hands of 'Punters' who do not want holdings in the hand of general public and thus playing with it for minor gains exactly in the same manner as they are playing with AICL.......hold tightly as it is sure to go to 53 and then 55 within this Qtr...

Same like MLCF, nirala msr food is in the hand of JS, they plays 5 upper cap and 3 lower cap and accumulation then again cap o cap now lets see it will cross its last year high of 34.50. :[
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on January 27, 2015, 05:52:47 PM
MLCF: 1HFY15 EPS Rs2.72, dividend of Rs1/share!
Maple Leaf Cement (MLCF) announced 1HFY15 earnings of Rs1.43bn (EPS Rs2.72) against Rs1.48bn (EPS Rs2.81) last year, down 3%.
Key takeaways
In 1HFY15, MLCF recorded revenue of Rs9.6bn as against Rs8.8bn last year which is up 9.4%, mainly led by ~7% increase in volumetric sales to 1.3mn tons compared to 1.2mn tons in 1HFY14. Moreover, average net retention prices clocked-in at ~2%.
Financial charges on the other hand witnessed a decline of 25% in 1HFY15 as MLCF is aggressively paying down its Sukuk and Syndicated debt obligations.
To investor’s surprise, MLCF has announced first ever interim dividend of Rs1/share. To recall, MLCF restructured its Rs12bn debt back in 2010, restricting it to pay any dividend until 50% of debt is paid down.
Although profit before tax in 1HFY15 improved by 31% to Rs1.9bn, imposition of alternate corporate tax resulted in 3% decline in net earnings.
However, on quarterly basis, net earnings increased by 63% to Rs888mn compared to Rs545mn in 1QFY15.

Topline
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aleeimran on January 27, 2015, 06:05:53 PM
alternate corporate tax has eroded approx 0.94 EPS..........in absence of ACT the EPS for 1H15 would be 3.66...
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on January 27, 2015, 09:05:20 PM
MLCF announces a dividend of 10% and it closes in red?  :o

What the hell  :confused1: :confused1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on January 28, 2015, 05:28:54 PM
Any comments on today's performance?

Seniors please advise if this is a good investment for short to intermediate term. Thanks :s1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ksenewb on January 28, 2015, 06:01:00 PM
alternate corporate tax has eroded approx 0.94 EPS..........in absence of ACT the EPS for 1H15 would be 3.66...

why would u consider absence of ACT?? Its a reality and payable expense just like any other..
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: aleeimran on January 28, 2015, 06:32:50 PM
Any comments on today's performance?

Seniors please advise if this is a good investment for short to intermediate term. Thanks :s1:
Maple Leaf Cement Factory (MLCF): 1HFY15 EPS reported at PKR2.72/sh
MLCF announced its 1HFY15 result yesterday reporting an EPS of PKR2.72/sh in 1HFY15 as compared to PKR2.81 reported in 1HFY14, representing a decline of 3%YoY. On pre-tax basis, the company experienced a growth of 31%YoY in earnings. Gross margins for the 1HFY15 clocked in at 36% as compared to 33.9% in 1HFY14, up 218bpsYoY. On QoQ basis, the earnings reported a growth of 62% primarily on the back of i) 6%QoQ growth in revenue, ii) 109bps expansion in margins and iii) 27% decline in finance cost. Contrary to consensus’ expectations, the company also announced an interim cash dividend of PKR1.0/sh. This finally brings the company in-line with industry standards, hence presenting a strong case for re-rating. The company is currently trading at P/E of 7.6x compared to industry multiple of 10.9x, representing a discount of 30%. Furthermore, MLCF is the prime beneficiary of falling oil prices given high dependence on FO based power generation and monetary easing due its high leverage. At our TP of PKR68/sh (adjusted for 100bps decline in discount rate), the scrip offers a total return 40%, including a 4% dividend yield.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on January 28, 2015, 09:20:10 PM
Target price of 68 by topline is quite justified.

if maple is 68 than ktml is how much:

68*1.25=85*70%=59.50

Textile value:  25

Total : 84.50

upside 64%
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on January 28, 2015, 11:10:20 PM
From this calculation on current rate of MLCF app 49 the price of Ktml would be 66-67
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ksenewb on January 28, 2015, 11:10:44 PM
Target price of 68 by topline is quite justified.

if maple is 68 than ktml is how much:

68*1.25=85*70%=59.50

Textile value:  25

Total : 84.50

upside 64%

Also dont forget ktml other income also increase due to dividend from maple
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on January 28, 2015, 11:36:03 PM
Target price of 68 by topline is quite justified.

if maple is 68 than ktml is how much:

68*1.25=85*70%=59.50

Textile value:  25

Total : 84.50

upside 64%

Also dont forget ktml other income also increase due to dividend from maple

that will be on standalone accounts only.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: fettelx on January 28, 2015, 11:39:17 PM
can someone explain how and why does mlfc dividend effect ktml share price?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hasnain0099 on January 28, 2015, 11:57:10 PM
can someone explain how and why does mlfc dividend effect ktml share price?
KTML holds around 70% of shares of MLCF. So the performance of MLCF has a significant impact on KTML's financial performance.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on January 29, 2015, 12:03:38 AM
can someone explain how and why does mlfc dividend effect ktml share price?
KTML holds around 70% of shares of MLCF. So the performance of MLCF has a significant impact on KTML's financial performance.

The Company (ktml) holds 306,410,425 (2013: 340,410,425) ordinary shares of Rupees 10 each of its subsidiary
company, Maple Leaf Cement Factory Limited. Equity held 58.06% (2013: 64.50%)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hasnain0099 on January 29, 2015, 12:07:50 AM
can someone explain how and why does mlfc dividend effect ktml share price?
KTML holds around 70% of shares of MLCF. So the performance of MLCF has a significant impact on KTML's financial performance.

The Company (ktml) holds 306,410,425 (2013: 340,410,425) ordinary shares of Rupees 10 each of its subsidiary
company, Maple Leaf Cement Factory Limited. Equity held 58.06% (2013: 64.50%)
:thanks:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: fettelx on January 29, 2015, 12:22:59 AM
can someone explain how and why does mlfc dividend effect ktml share price?
KTML holds around 70% of shares of MLCF. So the performance of MLCF has a significant impact on KTML's financial performance.

The Company (ktml) holds 306,410,425 (2013: 340,410,425) ordinary shares of Rupees 10 each of its subsidiary
company, Maple Leaf Cement Factory Limited. Equity held 58.06% (2013: 64.50%)
:thanks:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: twahidi on January 29, 2015, 02:53:55 AM
so what should one buy? MLCF or KTML?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stockz_123 on January 29, 2015, 04:12:18 PM
Maple Leaf Cement ~ Positive developments materialized
Transfer of coverage - Maple Leaf Cement (MLCF) is one of the top players in the northern zone, operating with the production capacity of 3.37mn tons/annum. MLCF announced 1HFY15 results wherein company posted EPS of Rs 2.72/sh as against Rs 2.81/sh reported in the same period last year. The company sponsors sprung up surprise by passing on interim cash dividend of Re1/sh after a very long time.

Triggers

?  Aggrandised sales given good local & export demand

?  Accelerated payments of loan & lowering finance cost

?  Cap removed by the creditors to pay dividend

 

The thrust of increase in revenue is due to the increase in the local dispatches. The upward movement of the demand resulted in an increase in revenue by 9%. The Profit aftar tax declined by 3.3% compare to last year.

This decrease in PAT is mainly due to incidence of taxation. However, PBT shows accelerated growth of 30.6% compared to the same period last year. The earnings per share before taxes comes to Rs.3.67/sh compared to the Rs.2.81/sh in the same period last year.

Continuous re-payments of long-term debts.....real commendable

MLCF also annouced an interim cash dividend at 10% (Re.1/sh). This is due to the continuous re-payments of the long-term debts. In the end of FY14 the long-term debts were standing at Rs.7.84bn.

Given aggrandised sales, MLCF started wiping out debts, which the company is doing since two years.

The covenent of non payment of dividend removed with this robust display of accelerated payments of long term debt.

This indeed is a good news for investors & Islamic funds.

Valuations: low PE

MLCF deciphers FY15 PE of 6.6x to 7x (still a good option for investment) albeit EV/sh Rs. 65.

Future Outlook

?  PSDP development projects are still in pipeline. The budgeted expenditures are not met in the 1HFY15 due to low government income. It is expected the governtment to float the revised budgeted funds for the development projects across the country.

?  Construction of Dasu dam and bhasha dam are the calls of the time.

?  The real estate projects and the housing scemes are also the lights in the dark for the industry.

?  MLCF holds a unique standing in the industry with huge production capacity and have an edge in monopoly of white cement.

SCS
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on January 30, 2015, 01:15:09 PM
Aggressive buying by two prominent member of kse today hopefully touch 55 soon must buy tomorrow for quick gain of 3-4 Rs
laoo maple 55
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: M Obaid Khan on January 30, 2015, 03:22:55 PM
Aggressive buying by two prominent member of kse today hopefully touch 55 soon must buy tomorrow for quick gain of 3-4 Rs
laoo maple 55

Agar ajj upper lock nhi khola tou  :good :good
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on January 30, 2015, 06:31:26 PM
After ups and down ready to trade in between 55-58
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on February 02, 2015, 07:25:39 PM
Aggressive buying by two prominent member of kse today hopefully touch 55 soon must buy tomorrow for quick gain of 3-4 Rs
laoo maple 55
one more target price acheived
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on February 02, 2015, 11:07:02 PM
mashalllah how do you see it going forward I am holding it from 51.80 levels feb contract
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: fadiii on February 02, 2015, 11:41:32 PM
What should be the exit price?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Sharoze123 on February 03, 2015, 12:20:13 AM
Maple Leaf Cement ~ Positive developments materialized
Transfer of coverage - Maple Leaf Cement (MLCF) is one of the top players in the northern zone, operating with the production capacity of 3.37mn tons/annum. MLCF announced 1HFY15 results wherein company posted EPS of Rs 2.72/sh as against Rs 2.81/sh reported in the same period last year. The company sponsors sprung up surprise by passing on interim cash dividend of Re1/sh after a very long time.

Triggers

?  Aggrandised sales given good local & export demand

?  Accelerated payments of loan & lowering finance cost

?  Cap removed by the creditors to pay dividend

 

The thrust of increase in revenue is due to the increase in the local dispatches. The upward movement of the demand resulted in an increase in revenue by 9%. The Profit aftar tax declined by 3.3% compare to last year.

This decrease in PAT is mainly due to incidence of taxation. However, PBT shows accelerated growth of 30.6% compared to the same period last year. The earnings per share before taxes comes to Rs.3.67/sh compared to the Rs.2.81/sh in the same period last year.

Continuous re-payments of long-term debts.....real commendable

MLCF also annouced an interim cash dividend at 10% (Re.1/sh). This is due to the continuous re-payments of the long-term debts. In the end of FY14 the long-term debts were standing at Rs.7.84bn.

Given aggrandised sales, MLCF started wiping out debts, which the company is doing since two years.

The covenent of non payment of dividend removed with this robust display of accelerated payments of long term debt.

This indeed is a good news for investors & Islamic funds.

Valuations: low PE

MLCF deciphers FY15 PE of 6.6x to 7x (still a good option for investment) albeit EV/sh Rs. 65.

Future Outlook

?  PSDP development projects are still in pipeline. The budgeted expenditures are not met in the 1HFY15 due to low government income. It is expected the governtment to float the revised budgeted funds for the development projects across the country.

?  Construction of Dasu dam and bhasha dam are the calls of the time.

?  The real estate projects and the housing scemes are also the lights in the dark for the industry.

?  MLCF holds a unique standing in the industry with huge production capacity and have an edge in monopoly of white cement.

SCS

Yes, as I suspected. They got a waiver to pay the dividend a quarter early. No way they would have hit the the 50%mark a quarter early.
Although why they would want to fast track a dividend just a quarter early is beyond me.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on February 03, 2015, 06:41:43 PM
After consolidation ready to test new highs
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on February 03, 2015, 11:36:16 PM
After consolidation ready to test new highs

In levels per entry advisable hai? Seniors please guide.

Any chance of any further dips?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Valueestimator on February 03, 2015, 11:42:29 PM
After consolidation ready to test new highs

In levels per entry advisable hai? Seniors please guide.

Any chance of any further dips?

65 and below entry hi entry hay.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on February 03, 2015, 11:46:11 PM
Value estimater ney keg diya hey to pals 65 jai ga IN SHA ALLAH, aur sath mein Ktml bhi 75 IN SHA ALLAH
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on February 03, 2015, 11:47:52 PM
After consolidation ready to test new highs

In levels per entry advisable hai? Seniors please guide.

Any chance of any further dips?

65 and below entry hi entry hay.
valueestimator ki baat 99.9 % theek hoti hay, as it happen in fectc
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Marshal on February 04, 2015, 12:24:00 AM
After consolidation ready to test new highs

In levels per entry advisable hai? Seniors please guide.

Any chance of any further dips?
it means yesterday's dip is a good buying opportunity ..??

65 and below entry hi entry hay.
valueestimator ki baat 99.9 % theek hoti hay, as it happen in fectc
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on February 04, 2015, 04:50:42 PM
Thanks for the advice brothers!  :s1:

Any chance yeh 50 ke around wapas ja skta ha. What is the support level please guide?

As market is really volatile right now, I want to buy when this dips.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on February 05, 2015, 06:27:46 PM
Yesterday's trading show support at 54 for time being, now it will go towards 60 IN SHA ALLAH
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Zar Ameen on February 06, 2015, 02:10:01 AM
After consolidation ready to test new highs

In levels per entry advisable hai? Seniors please guide.

Any chance of any further dips?
Dear Valueestimator,

I have read your views about KTML and MLCF. Masha Allah you VALUATIONS are meeting the tragets set by you.  What are your estimates and target price by Dec 2015 and onwards.

Thanks


65 and below entry hi entry hay.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on February 06, 2015, 04:13:26 PM
 :skeptic:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on February 06, 2015, 04:54:18 PM
Yesterday's trading show support at 54 for time being, now it will go towards 60 IN SHA ALLAH
great :dance :dance :dance
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on February 06, 2015, 05:47:11 PM
Laoo maple 60
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on February 06, 2015, 07:07:33 PM
After consolidation ready to test new highs

In levels per entry advisable hai? Seniors please guide.

Any chance of any further dips?

65 and below entry hi entry hay.
salute to Valueestimator and SBM!!!
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SAM71 on February 06, 2015, 07:51:23 PM
Double salute to value estimator.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on February 06, 2015, 07:56:17 PM
Aggressive buying by two prominent member of kse today hopefully touch 55 soon must buy tomorrow for quick gain of 3-4 Rs
laoo maple 55
48 per me ne buy call did thi ek salute yah an bhi
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SAM71 on February 06, 2015, 08:10:33 PM
Well deserved salute to nadeem bhai
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on February 06, 2015, 08:26:44 PM
After consolidation ready to test new highs

In levels per entry advisable hai? Seniors please guide.

Any chance of any further dips?

65 and below entry hi entry hay.
salute to Valueestimator and SBM!!!

Hats off to you Value bahe!!!  :clap1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on February 06, 2015, 08:32:43 PM
Any chance of a dip in this scrip as I have been waiting to buy at lower levels?

Der hai kahen yeh do din mein he 60 pe jump na mar de the way its going up and up!
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: umarm on February 06, 2015, 08:36:36 PM
Any chance of a dip in this scrip as I have been waiting to buy at lower levels?

Der hai kahen yeh do din mein he 60 pe jump na mar de the way its going up and up!

KASB walon nay 70 ka target dia hova ha. I do not think it will go till 70 but 65 seems possible in 1-2 weeks.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on February 06, 2015, 08:37:42 PM
Please advise when entry should be taken now?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on February 06, 2015, 08:38:42 PM
Salute to nadeem bhai
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on February 06, 2015, 08:42:11 PM
Any chance of a dip in this scrip as I have been waiting to buy at lower levels?

Der hai kahen yeh do din mein he 60 pe jump na mar de the way its going up and up!

KASB walon nay 70 ka target dia hova ha. I do not think it will go till 70 but 65 seems possible in 1-2 weeks.

Will double my holding on Monday. Just hope that it does not make a big jump at opening and I am able to buy at current price.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: ali62 on February 06, 2015, 10:14:26 PM
Thanks a lot Value bhai and nadeem bhai. :thumbsup_anim:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on February 07, 2015, 09:30:56 AM
Aggressive buying by two prominent member of kse today hopefully touch 55 soon must buy tomorrow for quick gain of 3-4 Rs
laoo maple 55
48 per me ne buy call did thi ek salute yah an bhi
Nadeem bahi...salute to u man!! keep it up :thanks:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on February 08, 2015, 06:31:50 PM
58.10 very strong resistance if breaks then 60+ easily in short term
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on February 10, 2015, 06:41:22 PM
58.10 very strong resistance if breaks then 60+ easily in short term
today good performance in negative market, I think tomorrow this resistance will be broken IN SHA ALLAH
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on February 10, 2015, 08:55:58 PM
I hv shorted mlcf at 58.05

 :fingerscrossed1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on February 10, 2015, 09:13:46 PM
I hv shorted mlcf at 58.05

 :fingerscrossed1:

When did MLCF reach 58.05? I think its high today was 57.99.

Anyway, MLCF looks pretty strong and it performed extremely well even when the market was down more than 300 points.  :skeptic:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on February 10, 2015, 09:23:31 PM
I hv shorted mlcf at 58.05

 :fingerscrossed1:

When did MLCF reach 58.05? I think its high today was 57.99.

Anyway, MLCF looks pretty strong and it performed extremely well even when the market was down more than 300 points.  :skeptic:
futures mein high is sey Bhi zyada laga tha
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Afzal on February 11, 2015, 08:58:33 AM
Aggressive buying by two prominent member of kse today hopefully touch 55 soon must buy tomorrow for quick gain of 3-4 Rs
laoo maple 55
48 per me ne buy call did thi ek salute yah an bhi
Nadeem bahi...salute to u man!! keep it up :thanks:


Nadeem bhai  :biggthumpup:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on February 11, 2015, 08:58:53 PM
Negative index dragged it down also , short term 60+, today high of 58.70 with good volumes , tomorrow I expect cement day IN SHA ALLAH
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: stockz_123 on February 12, 2015, 08:56:29 PM
MLCF: 1HFY15 Analyst Briefing Notes

 

Maple Leaf Cement (MLCF) held its 2QFY15 analyst briefing earlier today. To recall, the company posted NPAT of PkR0.89bn (EPS: PKR1.68) in 2QFY15, lower by 4%YoY (+26%YoY on pre-tax basis). Consequently, 1HFY15 earnings stood at PkR1.43bn (EPS: PkR2.72), lower by 3%YoY (+31%YoY on pre-tax basis). Along with the result, MLCF announced a surprise dividend of PkR1/share, the company’s first payout in 10yrs. Key takeaways from the conference call included:

 

·         Despite falling int’l oil and coal prices, GP margin remained largely stable at 36.6% (+1.3ppt YoY/+1.1pptQoQ). As per management, steeper margin accretion did not occur due to the company running its captive power plant on FO (old inventory) following disruption in electricity supplies from WAPDA.

 

·         Effective tax rate clocked in at 26% in 1HFY15 vs. effectively no tax expense in 1HFY14. In this regard, the company has filed a legal petition for the Alternative Corporate Tax (ACT) not to be implemented retrospectively. Currently having been granted a stay order, the company remains hopeful of a favorable eventual decision.

 

·         MLCF is planning to set up a ~25MW coal based power plant which will run on local coal (expected to be transported within a 50km range from the plant) rather than imported coal. While the project is still in its planning phase, the company expects the plant to produce electricity at ~PkR6/kwh.

 

·         After announcing a surprise dividend in the recent results, the company intends to maintain a modest payout ratio going forward, with due consideration for the planned coal power project and ~PkR9bn in outstanding loans.

 

·         The company remains confident over the pricing dynamics of the industry in the foreseeable future and does not plan to come up with any capacity expansion where current capacity utilization (FY14: ~80%) is slated to cater to the rising demand. 

While we await release of detailed 1HFY15 accounts to revisit our investment case for MLCF (FY15F P/E: 8.97x), we take this opportunity to incorporate the recent 100bps cut in DR in our financial model. In this regard, our revised TP now stands at PkR67.8/sh, offering potential upside of 19%. Accumulate!

AKD

 
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: MZ on February 13, 2015, 05:42:08 PM
 
Corporate Briefing
 
MLCF: Corporate Briefing

Elixir Securities organized a conference call yesterday, where we hosted Maple Leaf Cement Factory (MLCF). Mr Waleed Saigol (Director) along with Mr. Mohsin Naqvi (Group Chief Financial Officer) discussed recent results, key developments and future outlook of the company and the sector. We have presented key takeaways below:
2QFY15 results – Highlights
Although MLCF’s 2QFY15 bottom line remained depressed owing to higher effective tax rate, the company witnessed stellar operating results with PBT rising by 31% YoY. Though COGS/ton was slightly on the higher side as the company resorted to FO for power generation amidst grid outages, better net retention owing to its brand premium improved gross margins of the company by 1.3pp. Sales and distribution costs also rose significantly during the quarter (+38%) as the management is further investing in building up its brand equity to partially hedge it during price wars.
ACT to remain a thorn; possible retrospective reversal
With the Implementation of Alternative Corporate Tax (ACT) in FY15 budget, the management believes that its effective tax rate is going to be on the higher side and expects it to clock in at ~22% during FY15. In this regard, company has filed litigation against the said levy challenging it on two accounts 1) retrospective promulgation of ACT which resulted in effective tax rate for FY14 to clock in at 21% and 2) the government should honor its financial commitment with regards to previous tax losses available to the company as it has made all its financing agreements based on those tax losses. The management’s legal counsel has apprised that there is a high probability of retrospective tax reversal (PKR365mn) booked during FY14.
Steady payout to continue amidst deleveraging and efficiency projects
The management highlighted that there has been a major shift in Group’s policy with regards to dividend payout, as it now considers steady payout to investors as important along with plans to continue deleveraging and continue with needed capital expenditures. The company believes that it has the ability to generate enough cash to satisfy all three commitments going forward, and thus investors should expect consistent payout going forward.
Coal power project very much on the cards
MLCF is also considering setting up a captive coal power project of 23MW and the decision to go ahead with the project will not be deterred or hindered by weakening oil market as power generation on imported coal is still cheaper than current FO prices even after its prices have fallen by ~50% in FYTD. Since MLCF’s plant is located in a rich mineral area, management estimates power generation on locally mined coal to approximate ~PKR6/kwh, even after taking into account its low quality and higher moisture content. The timing of the project will very much depend upon MLCF’s ability to secure supply of local coal and in this regard it is currently discussing the prospects of local coal mining with the provincial authorities. The management expects that in any case it will likely establish LC’s for the project in the next 6 months.
Sector Outlook
Management eyes strong local demand going forward
The Musharaf era witnessed supernormal growth in cement consumption largely due to overall improving economy coupled with increasing PSDP allocations. However, local cement demand in past few years has remained subdued as allocated PSDP funds were not fully utilized. Going forward, if current government’s plans regarding massive infrastructure projects come true (roads, highways, economic corridor, power projects etc), cement demand can rise dramatically to 20%. Even if these projects remain in doldrums, management believes strong private demand shall keep local demand in the range of 8-10%.

In the near term, cement demand is expected to remain robust as the management believes that despite 1HFY15 being relatively slow on account of monsoon, Ramadan and wheat harvest season, local demand grew by 9% and therefore management expects this momentum to continue into 2HFY15 as well. This trend  has already started to reflect in 2HFY15TD company's dispatches, as per the management.
 
Pricing discipline to prevail in medium term
The management is very optimistic with respect to the pricing discipline prevailing in the industry as only one out of the five key players i.e. DGKC has announced its expansion plan while the other four are either highly leveraged (BWCL after LPCL acquisition) or in a deleveraging mode (FCCL and MLCF) or have huge equity requirements for diversification plans (LUCK). While CHCC’s expansion will likely not be a major issue for the local industry as its sales mix is comparatively skewed towards exports. The management believes that cement players have matured over the years and that expansion cycle, which frequents every decade in the industry, will likely be more calculated and prudent this time around with very rare chance of highly debt financed expansions in the sector.

elixir
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on February 14, 2015, 11:03:56 AM
Waiting for correction before taking new entry
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Rixwan on February 14, 2015, 12:08:18 PM
I want to buy it for short term...will it be suitable to buy now... :skeptic:

and if it is suitable then what should be the exit point?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on February 15, 2015, 05:49:13 AM
Waiting for correction before taking new entry

Nadeem bahe, MLCF has had very strong support so far even when market was in Mandi.

How much of a correction can we expect and what level would you advise on buying. Your feedback will be much appreciated.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: atombum on February 23, 2015, 09:12:34 AM
mlcf will remain quite this week
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on February 23, 2015, 10:47:45 AM
mlcf will remain quite this week

MLCF is not quiet  ;)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on February 23, 2015, 10:40:08 PM
Negative market mein Bhi achi performance , 60 + to mid of March ho hi jai ga
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: myfahim on February 23, 2015, 10:45:35 PM
Negative market mein Bhi achi performance , 60 + to mid of March ho hi jai ga

Yeh baat koi KTML ko bhi bataao
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: M Obaid Khan on February 23, 2015, 10:59:03 PM
Buy Price in 50 & 52 W8....  uuu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on February 24, 2015, 07:11:56 PM
short sellers are active in dgkc,mlcf, and luck
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on February 24, 2015, 10:11:56 PM
short sellers are active in dgkc,mlcf, and luck

like they were in engro

agar app nay short kya hai tou bhai its a blind BUY in MLCF target 58
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: SBM on February 24, 2015, 10:30:59 PM
short sellers are active in dgkc,mlcf, and luck

like they were in engro

agar app nay short kya hai tou bhai its a blind BUY in MLCF target 58

 :laugh:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on February 25, 2015, 06:37:20 AM
short sellers are active in dgkc,mlcf, and luck

like they were in engro

agar app nay short kya hai tou bhai its a blind BUY in MLCF target 58
:thanks:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on February 25, 2015, 06:56:04 AM
I hv shorted mlcf at 58.05

 :fingerscrossed1:
ye kya hay bahi???? :console:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on February 25, 2015, 10:34:56 AM
laooo cap karoo mlcf

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on February 25, 2015, 10:39:31 AM
I am a Jack Ass

yeh kya hai bhai  :console:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on February 25, 2015, 10:44:11 AM
laooo cap karoo mlcf
but u are short in mlcf.... :s1:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on February 27, 2015, 10:42:34 AM
short sellers are active in dgkc,mlcf, and luck

like they were in engro

agar app nay short kya hai tou bhai its a blind BUY in MLCF target 58
i gave short calll for mlcf-mar at 56.....today its hit 54....itna b gharoor acha nahi hota jnab :laugh:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on February 27, 2015, 08:16:43 PM
What is happening to MLCF? Why its price is going down and down? Any negative news in the market?

Please advise whether to HOLD or SELL??? I am heavily invested in MLCF.  :(
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on February 27, 2015, 08:27:42 PM
What is happening to MLCF? Why its price is going down and down? Any negative news in the market?

Please advise whether to HOLD or SELL??? I am heavily invested in MLCF.  :(
sath sath koch profit taking kar laina sehat k lia acha hota. Sara boora aik sath nahi sanbhal k rakhtay.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on February 27, 2015, 08:28:19 PM
What is happening to MLCF? Why its price is going down and down? Any negative news in the market?

Please advise whether to HOLD or SELL??? I am heavily invested in MLCF.  :(
mlcf-mar me kafi maal short hua tha @56.xx......................................................so lagay raho
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: 007 on February 27, 2015, 08:33:46 PM
What is happening to MLCF? Why its price is going down and down? Any negative news in the market?

Please advise whether to HOLD or SELL??? I am heavily invested in MLCF.  :(
mlcf-mar me kafi maal short hua tha @56.xx......................................................so lagay raho

lol apna engro cover kar loo 308 ka hogaya hai

kahin nangay na ho jana
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: sabir.hussain on February 27, 2015, 08:39:06 PM
What is happening to MLCF? Why its price is going down and down? Any negative news in the market?

Please advise whether to HOLD or SELL??? I am heavily invested in MLCF.  :(
mlcf-mar me kafi maal short hua tha @56.xx......................................................so lagay raho

lol apna engro cover kar loo 308 ka hogaya hai

kahin nangay na ho jana
magar mlcf 58 ka tagt dia tha jnaab nay.... :laugh:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on February 27, 2015, 10:52:11 PM
mlcf ney maar dala added some more today at high rates huhu
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on February 28, 2015, 04:59:14 AM
Is it down just because of the overall market?

Or there is some other bad news related to it? Please share if someone has any info.

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on February 28, 2015, 10:05:56 AM
Government is going to increase petroleum prices upto 12.66 rupees . All cements were down on anticipation of petroleum price increase , however this is one time loss in price it will settle soon , don't worry
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: Dehan on February 28, 2015, 11:47:58 AM
Government is going to increase petroleum prices upto 12.66 rupees . All cements were down on anticipation of petroleum price increase , however this is one time loss in price it will settle soon , don't worry
http://www.dawn.com/news/1166305/govt-to-keep-petroleum-prices-unchanged-in-march
No change in price.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on February 28, 2015, 01:20:40 PM
Good news for all cements , laoo wapis MLCF at 57 IN SHA ALLAH
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: danishhussain93 on February 28, 2015, 02:00:32 PM
bhai main ny MLCF 56.5 ka liya he ye 57 par kb jaye ga mujhay loss ho raha he plz rly ONLINE88 :)
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on February 28, 2015, 02:44:05 PM
Market mein ups and downs hotey rehtey hain , patience is the key in value stocks , if u have holding power then hold it summer season mein 60+ ho ga IN SHA ALLAH
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: danishhussain93 on February 28, 2015, 03:12:36 PM
Thankyou so much for your reply online88. One more thing is that i also have netsol which buying price is 49.50, plz advise about it.
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on March 01, 2015, 07:10:50 AM
Good news for all cements , laoo wapis MLCF at 57 IN SHA ALLAH

Great! :clap1:

Kal aur MLCF utha lena chahey phir at these lower levels?  Whats your strategy
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: online88 on March 01, 2015, 12:41:44 PM
Good news for all cements , laoo wapis MLCF at 57 IN SHA ALLAH

Great! :clap1:

Kal aur MLCF utha lena chahey phir at these lower levels?  Whats your strategy
my strategy is to hold my old shares 25k
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: clearcrystle1 on March 01, 2015, 02:10:23 PM
Market mein ups and downs hotey rehtey hain , patience is the key in value stocks , if u have holding power then hold it summer season mein 60+ ho ga IN SHA ALLAH


If MLFC 60

Then KTML

60*1.25=75
75*70%=52.5
Textile value=25

KTML = 52.5+25=77.5
 :dance :dance :dance
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: nadeemkhaliq on March 01, 2015, 06:14:37 PM
Next week buying a jaye ge don't worry
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on March 02, 2015, 12:44:16 PM
 huhu huhu huhu huhu huhu

Yeh kia ho raha hai?? Whats the reason for this sharp decline in price.... please share  :down:

Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: clearcrystle1 on March 02, 2015, 12:58:25 PM
huhu huhu huhu huhu huhu

Yeh kia ho raha hai?? Whats the reason for this sharp decline in price.... please share  :down:

Sabar sy kaam lo mairy dost...
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: mkarslan on March 02, 2015, 01:22:42 PM
huhu huhu huhu huhu huhu

Yeh kia ho raha hai?? Whats the reason for this sharp decline in price.... please share  :down:

Sabar sy kaam lo mairy dost...

International coal prices took a dip, so the script took the same flow. achay din aaain gay abhi terminal band ker k so jaoo  :lazy2:
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: hammad01 on March 02, 2015, 01:37:19 PM
huhu huhu huhu huhu huhu

Yeh kia ho raha hai?? Whats the reason for this sharp decline in price.... please share  :down:

Sabar sy kaam lo mairy dost...

International coal prices took a dip, so the script took the same flow. achay din aaain gay abhi terminal band ker k so jaoo  :lazy2:

What are you trying to say here? International coal prices dip so share price also drop? It is opposite, drop in coal price is good for cement
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: alishahid84 on March 02, 2015, 11:58:12 PM
huhu huhu huhu huhu huhu

Yeh kia ho raha hai?? Whats the reason for this sharp decline in price.... please share  :down:

Sabar sy kaam lo mairy dost...

International coal prices took a dip, so the script took the same flow. achay din aaain gay abhi terminal band ker k so jaoo  :lazy2:

What are you trying to say here? International coal prices dip so share price also drop? It is opposite, drop in coal price is good for cement

Yar koi bataye ga ke market mein mlcf ki sab se zada wat kyun lagi hai??  :down:

Is it because of the expansion plans of dgkc still?
Title: Re: MLCF -- Maple Leaf Cement Factory Ltd.
Post by: mkarslan on March 03, 2015, 02:40:53 PM
huhu huhu huhu huhu huhu

Yeh kia ho raha hai?? Whats the reason for this sharp decline in price.... please share  :down: