Maple Leaf Cement

Company type	Public
Traded as	PSX:  MLCF
Industry	Cement
Founded	1956; 68 years ago (1956)
Headquarters	Lahore, Pakistan
Key people	Sayeed Tariq Saigol ( CEO) Tariq Sayeed Saigol ( chairman)
Revenue	Rs. 62.075 billion (US$210 million) (2023)
Operating income	Rs. 13.074 billion (US$45 million) (2023)
Net income	Rs. 5.770 billion (US$20 million) (2023)
Total assets	Rs. 89.707 billion (US$310 million) (2023)
Total equity	Rs. 44.913 billion (US$160 million) (2023)
Owner	Kohinoor Textile Mills (56.50%)
Parent	Saigol Group
Subsidiaries	Maple Leaf Power Limited Maple Leaf Industries Limited
Website	www.kmlg.com/mlcfl/profile
Footnotes / references Financials As of 30 June 2023 [update] [1]

Maple Leaf Cement ( Urdu: میپل لیف سیمنٹ) is a Pakistani cement manufacturer based in Lahore. ^{[2] [3]} It is the fifth-largest cement manufacturer in Pakistan after Lucky Cement, DG Cement, Bestway Cement, and Fauji Cement. ^{[4] [5] [6]}

History

Maple Leaf Cement was founded in 1956 by the West Pakistan Industrial Development Corporation in a collaboration with the Government of Canada. ^{[7] [8]} In January 1992, Maple Leaf Cement was acquired for Rs 486 million by Nishat Mills under the privatization scheme of the Government of Pakistan. ^[9] Later, it was transferred to Saigol Group in a swap scheme in which Nishat Group acquired DG Cement from Saigol Group. ^[10]

In April 1994, Maple Leaf Cement began a project to expand its cement production capacity of annual grey portland cement from 0.6 million tons to 1.6 million tons. ^[11] The project had a total cost of US$160.8 million. ^[11] The International Finance Corporation (IFC) contributed US$45.2 million in financing to the project, which was part of a larger US$160 million investment program. ^[11] The financing provided by the IFC consisted of a US$5.2 million equity investment, a US$30 million loan for IFC's own account, and an additional US$10 million loan. ^[11] The remaining financing was raised by listing the company on the Karachi Stock Exchange on August 17, 1994. ^[12] The financing was used to acquire a new cement plant from FLSmidth. ^{[11] [13]}

In 2005, Maple Leaf Cement increased its production capacity from 100 to 600 tons per day. ^[14] The company also optimized its dry process plant, increasing its capacity from 3,300 to 4,000 tons per day. ^[14] Additionally, an expansion project was initiated to increase grey cement production by 6,700 tons per day. ^[14]

In November 2022, Maple Leaf Cement commissioned a new grey clinker production line at its brownfield site in Iskanderabad, Punjab, Pakistan. ^[15] The production line was supplied by Chengdu Design & Research Institute of China and increased the site's production capacity by 7000 tons per day. ^[15] The total cost of the project was PKR 20 billion (approximately US$90.2 million at the time). ^[15] The project was financed with a debt-to-equity ratio of 70:30, with funding obtained through the Long Term Financing Facility (LTFF) and Temporary Economic Refinance Facility (TERF) offered by the State Bank of Pakistan. ^{[15] [16]}

References