DSE:LHB

LafargeHolcim Bangladesh PLC. research

Reports on LafargeHolcim Bangladesh PLC.

Company · Initiation · 29 Oct 2026

Aggregates now earn 80% of LafargeHolcim's profit; cement margins carry the risk

Fair value Tk 18-42 (base 30) vs Tk 48.7. Imported clinker at ~US$53/t and energy squeezed cement to a Q3 loss; the Meghalaya quarry and aggregates carry the value.

LafargeHolcim Bangladesh PLC (DSE: LHB) is the only integrated cement maker in Bangladesh: it mines limestone at its own quarry in Meghalaya, India, carries it 17 km over a cross-border conveyor to a clinker kiln at Chhatak, Sunamganj, and grinds cement there and at Meghnaghat…

Fair value ৳18–42 · price ৳48.70 (2026-10-29)

Peer comparisons and industry research covering LafargeHolcim Bangladesh PLC.

Company · DSE:CONFIDCEM · Cement · Analysis · 29 Oct 2026

Confidence Cement: a 43%-utilised grinder carried by its power-plant associate

Confidence sold 524 kt from 1.2 mt of capacity in FY2025 and lost Tk 166m before associates; its 36% share of Confidence Power Holdings added Tk 1,208m but no cash dividend. The stake fell to 29.79% in FY2026.

What it is. Confidence Cement PLC, founded in 1991 and the oldest private cement maker in Bangladesh, grinds imported clinker with gypsum, slag, fly ash and limestone at one plant at Bhatiary, Sitakunda, near Chattogram. It is the listed flagship of the Confidence group, whose…

Company · DSE:CROWNCEMNT · Cement · Analysis · 29 Oct 2026

Crown Cement: one of the largest grinders, but interest, the taka and tax take most of the margin

Crown sold 4,083 kt in FY2025 from 5,736 kt of capacity, buys clinker with US-dollar loans and earned a 2.0% net margin. FY2026 EPS Tk 5.08 after a weak nine months; 22.5% cash dividend.

What it is. Crown Cement PLC (formerly M.I. Cement Factory) grinds imported clinker, slag, fly ash, gypsum and limestone into Ordinary and Portland Composite Cement at one riverside site at West Mukterpur, Munshiganj, and sells it under the 'Crown Cement' brand at home and in…

Company · DSE:HEIDELBCEM · Cement · Analysis · 29 Oct 2026

Heidelberg Materials Bangladesh: debt-free, but imported clinker and parent fees leave little for shareholders

A grinder with 3,510 kt of capacity running at 52.5%, buying 87.5% of its clinker from the group and paying parent fees of 1.8 times its 2025 profit. H1 2026 loss Tk 111m.

What it is. Heidelberg Materials Bangladesh (HMB) grinds imported clinker into cement at three plants (Kanchpur near Dhaka, Chattogram and Mukterpur in Munshiganj) with 3,510 kt of installed capacity and sells it as ScanCement and RubyCement. It owns no kiln and no limestone, so cost…

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