External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

Maple Leaf Cement Factory / Equity Bottom-Up

<ul><li>MLCF announced its 4QFY26 result today, wherein, the company reported consolidated earnings of Rs4.2bn (EPS: Rs4.07), up 17% YoY and 141% QoQ.</li><li>Earnings came higher than industry’s expectations due to higher gross margins.</li><li>We maintain our Buy stance on MLCF, which is currently trading at a FY27E P/E of 7.0x.</li></ul>

MLCF announced its 4QFY26 result today, wherein, the company reported consolidated earnings of Rs4.2bn (EPS: Rs4.07), up 17% YoY and 141% QoQ.Earnings came higher than industry’s expectations due to higher gross margins.We maintain our Buy stance on MLCF, which is currently trading at a FY27E P/E of 7.0x.

Maple Leaf Cement (MLCF) – 4QFY26 EPS at Rs4.07, FY26 EPS at Rs11.34 (Earnings Higher Than Industry’s Expectations)