Lahore: Maple Leaf Cement Factory Limited has reported a stable net consolidated turnover of Rs. 51,379 million for the first nine months of the fiscal year 2024-25, ending March 31, 2025, according to the latest unaudited financial statements. This performance marks a slight increase from the Rs. 50,729 million recorded during the same period last year, despite a 4.95 percent decrease in overall cement dispatch volumes due to a reduction in domestic sales.
Domestic cement sales fell by 6.90 percent, totaling 2,793,737 tons, attributed primarily to a decrease in local market demand. However, the company saw a 43.02 percent increase in export sales volumes, which rose from 122,150 tons to 174,701 tons, driven by improved overseas demand. According to information available from the Pakistan Stock Exchange (PSX), the company’s strategy to prioritize the use of low-cost pet coke to optimize energy costs has been instrumental in maintaining its revenue despite the fall in sales volumes.
The company’s consolidated gross profit increased by 12.49 percent to Rs. 18,443 million, compared to Rs. 16,395 million in the previous fiscal year. This improvement was largely due to the decline in global coal and pet coke prices, which aligned with local Afghan and Darra coal prices. Furthermore, the company has managed to offset rising energy costs by largely relying on its own power generation sources, including a coal-fired power plant, solar power, and waste heat recovery plants, which account for 95 percent of its electricity usage.
The State Bank of Pakistan’s reduction of interest rates has significantly reduced the company’s financing costs, improving liquidity and profitability. The company reported a consolidated pre-tax profit of Rs. 10,953 million, up from Rs. 7,685 million in the corresponding period last year. The consolidated tax component for the period was Rs. 3,082 million, compared to Rs. 2,311 million previously.
Maple Leaf Cement's post-tax profit increased by 46.46 percent to Rs. 7,871 million, up from Rs. 5,374 million in the prior year. This increase was supported by the tax-exempt status of profits from Maple Leaf Power Limited, a wholly-owned subsidiary, and dividends received from the same totaling Rs. 5,648 million.
Looking forward, the company anticipates positive momentum in the local cement market, driven by the expansion of government infrastructure projects and a revival in real estate demand. The company remains committed to cost reduction and operational efficiency, with a focus on integrating alternative fuels to reduce carbon emissions and enhance profitability.
In addition to its core operations, Maple Leaf Cement is diversifying its investment portfolio with strategic investments in the healthcare and fertilizer sectors. The company has begun investments in Novacare Hospitals (Private) Limited, which is developing its first hospital in Islamabad. Additionally, it has acquired a 34.40 percent stake in Agritech Limited, complementing its existing 43.51 percent group holding.
The company’s board expressed gratitude to its shareholders, employees, and other stakeholders for their continued support and trust.