1st Quarter Report 2026

May 12, 2026 at 11:48 AM UTC · Issued by Lafargeholcim Bangladesh Plc

‌INTERIM

FINANCIAL

STATEMENTS

as at and for the period ended 31 March 2026

(Un-audited)

‌LAFARGEHOLCIM BANGLADESH PLC. Consolidated Statement of Financial Position (Un-audited) at 31 March 2026

Assets Non-current assets	NOTES	31 Mar 2026 Taka'000	31 Dec 2025 Taka'000
Property, plant and equipment		18,771,786	18,444,241
Intangible assets		1,137,175	1,178,545
Employee benefits - funded plan assets		82,100	90,075
Total non-current assets		19,991,061	19,712,861
Current assets Inventories		6,141,175	3,848,105
Trade receivables		691,228	808,534
Other current assets	7	8,380,276	7,489,559
Advance income tax		258,568	-
Cash and cash equivalents		4,039,453	9,517,615
Total current assets		19,510,700	21,663,813

Total assets		39,501,761	41,376,674
Equity & liabilities Share capital		11,613,735	11,613,735
Retained earnings		7,810,528	6,688,763
Other components of equity		(92,541)	(91,901)
Foreign currency translation		791,963	853,221
Equity attributable to owners of the Company		20,123,685	19,063,818
Non-controlling interests		(506)	(488)
Total equity		20,123,179	19,063,330
Non-current liabilities Lease liabilities		59,321	60,814
Deferred tax liabilities		1,394,419	1,478,543
Employee benefits - unfunded plan obligations		204,861	200,464
Provision		103,874	105,428
Total non-current liabilities		1,762,475	1,845,249
Current liabilities Trade payables		14,743,437	17,205,312
Other current liabilities		2,798,825	2,964,369
Lease liabilities		33,930	38,724
Current income tax liabilities		-	213,404
Unclaimed dividend		39,915	46,286
Total current liabilities		17,616,107	20,468,095

Total equity and liabilities		39,501,761	41,376,674
Net Asset Value (NAV) Per Share 11		17.33	16.41

The accompanying Notes 1 to 14 form an integral part of these interim financial statements.

Company Secretary

Chief Financial Officer

Director

Chief Executive Officer

LAFARGEHOLCIM BANGLADESH PLC. Consolidated Statement of Profit or Loss (Un-audited) for the period ended 31 March 2026

Revenue	NOTES 8	Jan-Mar 2026 Taka '000 8,038,410	Jan-Mar 2025 Taka '000 8,514,988
Cost of sales		(6,168,092)	(6,058,777)
Gross profit		1,870,318	2,456,211
General and administrative expenses		(465,300)	(494,584)
Sales and marketing expenses		(175,868)	(202,554)
Other operating income/(expenses)		3,996	18,134
Operating profit		1,233,146	1,777,207
Finance cost	9	(15,932)	(101,494)
Finance income		169,544	64,309
Profit before tax		1,386,758	1,740,022
Income tax		(264,993)	(349,349)
Profit for the period		1,121,765	1,390,673
Earning Per Share Basic (Taka)	11	0.97	1.20
Diluted (Taka)	11	0.97	1.20

The accompanying Notes 1 to 14 form an integral part of these interim financial statements.

Company Secretary

Chief Financial Officer

Director

Chief Executive Officer

LAFARGEHOLCIM BANGLADESH PLC.

Consolidated Statement of Comprehensive Income (Un-audited) for the period ended 31 March 2026

	Jan-Mar 2026 Taka'000	Jan-Mar 2025 Taka'000
Profit for the period	1,121,765	1,390,673
Items that may be reclassified subsequently to profit or loss
Cash flow hedge instruments	(640)	13,259
Exchange differences on translating foreign operation	(61,258)	36,166
Non controlling interests- currency translation adjustment	(18)	(14)
Other comprehensive income for the period	(61,916)	49,411

Total comprehensive income for the period	1,059,849	1,440,084
Profit attributable to:
Owners of the parent Company	1,059,867	1,440,098
Non-controlling interests	(18)	(14)
	1,059,849	1,440,084

Company Secretary

Chief Financial Officer

Director

Chief Executive Officer

LAFARGEHOLCIM BANGLADESH PLC. Consolidated Statement of Changes in Equity (Un-audited) for the period ended 31 March 2026

( All figures are in Tk. '000)

	Share capital	Retained earnings	Other components of equity	Foreign currency translation	Equity for parent company	Non controlling interests	Total equity
Balance at 1 January 2025	11,613,735	5,877,401	9,329	1,091,911	18,592,376	(584)	18,591,792
Total comprehensive income for the period	-	1,390,673	13,259	36,166	1,440,098	(14)	1,440,084
Balance at 31 March 2025	11,613,735	7,268,074	22,588	1,128,077	20,032,474	(598)	20,031,876
Balance at 1 January 2026	11,613,735	6,688,763	(91,901)	853,221	19,063,818	(488)	19,063,330
Total comprehensive income for the period	-	1,121,765	(640)	(61,258)	1,059,867	(18)	1,059,849
Balance at 31 March 2026	11,613,735	7,810,528	(92,541)	791,963	20,123,685	(506)	20,123,179
Company Secretary	Chief Financial Officer	Director	Director	Chief Executive Officer

LAFARGEHOLCIM BANGLADESH PLC. Consolidated Statement of Cash Flows (Un-audited) for the period ended 31 March 2026

	Notes	Jan-Mar 2026 Taka'000	Jan-Mar 2025 Taka'000
Cash flows from operating activities
Cash receipts from customers		5,578,382	6,906,705
Cash paid to suppliers and employees		(9,703,129)	(9,988,320)
Cash generated from operations		(4,124,747)	(3,081,615)
Income tax paid		(709,729)	(400,747)
Other receipts		3,760	18,107
Net cash generated by operating activities		(4,830,716)	(3,464,255)
Cash flows from investing activities
Payments for property, plant and equipment		(649,039)	(602,834)
Payments for intangible assets		-	(12,964)
Interest income on bank deposits		48,794	47,632
Net cash used in investing activities		(600,245)	(568,166)
Cash flows from financing activities
Repayments of the lease liabilities		(6,287)	(7,878)
Repayment of / (Proceeds from) short term borrowings		-	(225,405)
Payment of interest and other finance cost		(4,566)	(3,178)
Interest paid on lease liability		(2,897)	(2,968)
Proceeds from Margin accounts with banks		275	11,920
Dividend payment		(6,371)	(151,893)
Net cash used in financing activities		(19,846)	(379,402)
Net effect of foreign currency translation on cash and cash equivalent		(27,355)	4,837
Net increase/(decreas e) in cash and cash equivalents		(5,478,162)	(4,406,986)
Cash and cash equivalents at beginning of the period		9,517,615	9,600,898
Cash and cash equivalents at end of the period		4,039,453	5,193,912
Net Operating Cash Flow Per Share (NOCFPS)		(4.16)	(2.98)

Company Secretary

Chief Financial Officer

Director

Chief Executive Officer

LAFARGEHOLCIM BANGLADESH PLC.

Notes to the Condensed Consolidated Financial Statements (Un-audited) for the period ended 31 March 2026

General information
LafargeHolcim Bangladesh PLC. (LHB) - (hereinafter referred to as "the Company") was incorporated on 11 November 1997 as a private limited company in Bangladesh under the Companies Act 1994 having its registered office in Dhaka. At the time of incorporation the name of the Company was "Lafarge Surma Cement Limited". On 07 February 2017 the Registrar of Joint Stock Companies and Firms of Bangladesh (RJSC) approved the name change to "LafargeHolcim Bangladesh Limited" of the Company. On 18 August 2024 the Registrar of Joint Stock Companies and Firms of Bangladesh (RJSC) further approved the name change to "LafargeHolcim Bangladesh PLC." of the Company. The Company has subsequently been converted into a public limited company on 20 January 2003 and went for Initial Public Offering of shares in November 2003 which was fully subscribed and issued. The shares have since been listed and are being traded in Dhaka and Chittagong Stock Exchanges. Presently the Company has two subsidiaries in India. The main objectives of the subsidiaries are to support the holding company. A brief description of each of the subsidiary is given below:
Lum Mawshun Minerals Private Limited (LMMPL) - incorporated under the Indian Companies Act 1956 on 17 November 1994 as a private limited company with its registered office at Shella in the State of Meghalaya, India.
Lafarge Umiam Mining Private Limited (LUMPL) - incorporated under the Indian Companies Act 1956 on 22 March 1999 as a private limited company with its registered office at Shella in the State of Meghalaya, India.
Nature of business
The Company operates cement and aggregates manufacturing plants at Chhatak under Sunamganj district, and three (3) grinding plants near Dhaka and Khulna. The Company extracts and processes the basic raw materials of limestone from the quarry in Meghalaya, India, owned by the Company's fully owned subsidiary Lafarge Umiam Mining Private Limited. A 17 kilometres cross-border conveyor belt links the quarry with the cement plant for transportation of raw materials.
The company is engaged in manufacturing and marketing of building materials in the local market and international market.
Basis of preparation
The consolidated interim financial statements have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting.
Comparatives
Comparative figures and account titles in the financial statements have been rearranged/reclassified where necessary to conform with changes in presentation in the current year.
Principles of consolidation

The accounts of all the subsidiaries of the Company have been fully consolidated as the Company directly controls more than 50% of the voting shares of these entities.

The Company has made following investments in its subsidiaries which have been eliminated during consolidation:

31 Mar 2026 31 Dec 2025

Name of subsidiary Taka'000Taka'000

Lafarge Umiam Mining Private Limited, India 519,356 519,356

Lum Mawshun Minerals Private Limited, India 537 537

519,893 519,893

All inter-company balances between the Company and its subsidiaries are eliminated on consolidation.

Scope of consolidation

Name of the subsidiary

Country of Incorporation

% of ownership interest

Lafarge Umiam Mining Private Limited

India

100

Lum Mawshun Minerals Private Limited

India

The same accounting policies, presentation and methods of computation have been followed in these interim financial statements as were applied in the preparation of the Company's financial statements for the year ended 31 December 2025.

Comparative figures and account titles in the financial statements have been rearranged/reclassified where necessary to conform with changes in presentation in the current period.

Gas sales agreement with JGTDS
The Gas Sales Agreement between LafargeHolcim Bangladesh PLC. (the "Company") and Jalalabad Gas Transmission and Distribution Systems Limited (JGTDS) ended on January 17, 2026 (the "Old GSA"). Thereafter, since January 18, 2026 JGTDS is supplying gas to the Company under two new Gas Sales Agreements (the "New GSAs") both dated June 24, 2025 and valid until January 18, 2036.
There was a dispute between the Company and JGTDS relating to the provisions of Ceiling Price of the Old GSA. The dispute was forwarded to an International Arbitration Tribunal. On September 15, 2023 the Tribunal passed the Award (the "Award") in favor of the Company declaring the Ceiling Price under the Old GSA as "valid and enforceable". JGTDS is yet to comply with the Award.
During the pendency of the Arbitration, in compliance with an Interim Order dated March 18, 2021 passed by the Appellate Division of the Supreme Court of Bangladesh, the Company paid JGTDS Taka 2,969.76 million as advance which is included in the Other Current Assets.
In the meantime, in November 2025, the Company filed the Money Decree Execution Case no. 35 of 2025 before the Court of District Judge, Dhaka in relation to the enforcement of the award.
On November 19, 2025 JGTDS served a Notice of Discontinuation of gas line which the Company challenged before the appropriate courts and on December 17, 2025 the Appellate Division passed an order (received by the Company on February 24, 2026) as follows:
1. The Learned District Judge, Dhaka is directed to conclude the proceedings of the aforesaid Money Decree Execution Case no. 35 of 2025 by February 28, 2026.
2. LHB to furnish a Bank Guarantee for an amount of Taka 4,000 million in favor of JGTDS.
  The Money Decree Execution case is still pending and the Company has submitted the Bank Guarantee in compliance with the Order.
  In the meantime, on March 12, 2026, JGTDS has filed a review petition before the Appellate Division challenging the aforesaid order of the Appellate Division passed on November 19, 2025. The review petition is currently pending before the Appellate Division.
Segment information- Period: January- March

2026 Taka'000	Reportable seg Clinker and cement	ments Aggregates	Total

Statement of profit or los s
Segment revenue (Jan-Mar 2026)	6,500,636	1,537,774	8,038,410
Operating profit (Jan-Mar 2026)	429,846	803,300	1,233,146

Statement of financial pos ition
Assets (as at 31 March 2026) Segment assets	33,958,222	1,245,518	35,203,740
Unallocated assets*	-	-	4,298,021
Total assets			39,501,761
Equity and liabilities (as at 31 March 2026) Segment liabilities	17,483,797	367,200	17,850,997
Unallocated equity and liabilities**	-	-	21,650,764
Total equity and liabilities			39,501,761

2025 Taka'000	Reportable se Clinker and cement	gments Aggregates	Total

Statement of profit or los s
Segment revenue (Jan-Mar 2025)	6,878,200	1,636,788	8,514,988
Operating profit (Jan-Mar 2025)	910,271	866,936	1,777,207

Statement of financial pos ition
Assets (as at 31 December 2025)
Segment assets	30,716,606	1,142,453	31,859,059
Unallocated assets*	-	-	9,517,615
Total assets			41,376,674
Equity and liabilities (as at 31 December 2025)
Segment liabilities	19,385,543	1,303,434	20,688,977
Unallocated equity and liabilities**	-	-	20,687,697
Total equity and liabilities			41,376,674
*Advance tax, derivatives instruments and cash and cash equivalents
** Borrowings, deferred tax liabilities and unclaimed dividend.
9 Finance Cost
Finance costs increased due to the exchange loss during the period.
		Jan-Mar 2026		Jan-Mar 2025
10 A. Income tax		Taka		Taka
Current income tax expenses		344,956		456,472
Deferred income tax income		(79,963)		(107,123)
		264,993		349,349
B. Reconciliation of effective tax rate (%)
Average statutory tax rate		22.58		22.58
Permanent differences		5.47		4.92
Deferred tax		(5.77)		(6.16)
Effect of change in tax rate Effect of foreign tax differentials		- 0.30		- (1.26)
Effective tax rate		22.58		20.08
11 A. Earnings Per Share
The computation of basic earnings per share for the periods ended 2026 and 2025 are as follows:
Numerator	(Thousand Taka)	Jan-Mar 2026	Jan-Mar 2025
Profit for the period		1,121,765	1,390,673
Denominator	(Thousands of Shares)
Weighted average number of shares outstanding 1,161,374 1,161,374

Basic Earnings Per Share	Taka	0.97	1.20
Diluted Earnings Per Share	Taka	0.97	1.20

B. Net operating cash flow per share (NOCFPS)

The computation of net operating cash flow per share for the periods ended 2026 and 2025 are as follows:

Numerator (Thousand Taka)

Net operating cash flow for the period (4,830,716) (3,464,255)

Denominator (Thousands of Shares)

Weighted average number of shares outstanding 1,161,374 1,161,374

Net operating cash flow per share	Taka	(4.16)	(2.98)
C. Net asset value (NAV) per share		31 Mar 2026	31 Dec 2025

The computation of net asset value per share for the periods ended 2026 and 2025 are as follows:

Numerator (Thousand Taka)

Net asset value for the period/year 20,123,685 19,063,818

Denominator (Thousand Shares)

Weighted average number of shares outstanding 1,161,374 1,161,374

Net asset value per share Taka 17.33 16.41


	Net asset value (NAV) per share	17.33	16.41
12	Comparative Information for the Shareholders	31 Mar 2026 Taka	31 Dec 2025 Taka
	Net asset value (NAV) per share	17.33	16.41

	Jan-Mar 2026 Taka	Jan-Mar 2025 Taka
Earnings Per Share (EPS)	0.97	1.20
Net Operating Cash Flow Per Share (NOCFPS)	(4.16)	(2.98)
Profit for the period	1,121,765,000	1,390,673,000

For the period January to March 2026, EPS decreased compared to the previous period, mainly due to decreased cement sales. NOCFPS decreased compared to the same period of last year, due to increased payments to the suppliers against local and imported purchases.

13 Related Party Transactions

Except for the regular transactions, there were no significant related party transactions during the period.

14	Reconciliation of consolidated Net Profit with cash flows from	operating activities
		Jan-Mar 2026 Taka'000	Jan-Mar 2025 Taka'000
	Net profit for the period	1,121,765	1,390,673
	Income tax expenses	264,993	349,349
	Net profit before tax	1,386,758	1,740,022
	Depreciation and amortization	389,158	359,439
	Other non-cash items	10,455	10,455
	Non-operating items	(153,612)	37,185
	Income tax paid	(709,729)	(400,747)
	Changes in net working capital	(5,753,746)	(5,210,609)
	Cash flows from operating activities	(4,830,716)	(3,464,255)

Company Secretary

Chief Financial Officer

Director

Chief Executive Officer

‌LAFARGEHOLCIM BANGLADESH PLC. Statement of financial position (Un-audited) at 31 March 2026

NOTES	31 Mar 2026 Taka'000	31 Dec 2025 Taka'000
Assets Non-current assets Property, plant and equipment	16,944,877	16,599,129
Intangible assets	324,230	324,867
Investment in subsidiaries	519,893	519,893
Employee benefits - Funded Plan assets	82,100	90,076
Total non-current assets	17,871,100	17,533,965
Current assets Inventories	5,963,746	3,727,099
Trade receivables	691,228	808,534
Other current assets	7,022,806	6,385,482
Advance income tax	160,596	3,710
Cash and cash equivalents	3,366,773	8,480,811
Total current assets	17,205,149	19,405,636

Total assets	35,076,249	36,939,601
Equity & liabilities
Equity Share capital	11,613,735	11,613,735
Retained earnings	3,307,494	2,595,307
Other component of equity	(90,505)	(90,505)
Total equity	14,830,724	14,118,537
Non-current liabilities Lease liabilities	59,321	60,814
Deferred tax liabilities	1,316,509	1,359,724
Employee benefits - Unfunded Plan obligations	171,746	165,226
Total non-current liabilities	1,547,576	1,585,764
Current liabilities Trade payables	15,931,401	18,236,355
Other current liabilities	2,693,522	2,913,935
Lease liabilities	33,930	38,724
Unclaimed dividend	39,096	46,286
Total current liabilities	18,697,949	21,235,300

Total equity and liabilities	35,076,249	36,939,601
Net Asset Value (NAV) Per Share 9	12.77	12.16

The accompanying Notes 1 to 12 form an integral part of these interim financial statements.

Company Secretary

Chief Financial Officer

Director

Chief Executive Officer

LAFARGEHOLCIM BANGLADESH PLC.

Statement of profit or loss (Un-audited) for the period ended 31 March 2026

	NOTES	Jan-Mar 2026 Taka '000	Jan-Mar 2025 Taka '000
Revenue	6	8,038,410	8,514,988
Cost of sales		(6,540,167)	(6,675,750)
Gross profit		1,498,243	1,839,238
General and administrative expenses		(453,158)	(484,087)
Sales and marketing expenses		(175,868)	(202,554)
Other operating income/(expenses)		3,996	18,078
Operating profit		873,213	1,170,675
Finance cost		(15,129)	(85,659)
Finance income		39,572	59,900
Profit before tax		897,656	1,144,916
Income tax		(185,469)	(249,390)
Profit for the period		712,187	895,526
Earnings Per Share
Basic (Taka)	9	0.61	0.77
Diluted (Taka)	9	0.61	0.77

The accompanying Notes 1 to 12 form an integral part of these interim financial statements.

Company Secretary

Chief Financial Officer

Director

Chief Executive Officer

LAFARGEHOLCIM BANGLADESH PLC. Statement of Comprehensive Income (Un-audited) for the period ended 31 March 2026

	Jan-Mar 2026 Taka '000	Jan-Mar 2025 Taka '000
Profit for the period	712,187	895,526
Items that may be reclassified subsequently to profit or loss Cash flow hedge instruments	-	8,495
Other comprehensive loss for the period	-	8,495

Total comprehensive income for the period	712,187	904,021

Company Secretary

Chief Financial Officer

Director

Chief Executive Officer

LAFARGEHOLCIM BANGLADESH PLC. Statement of Changes in Equity (Un-audited) for the period ended 31 March 2026

( All figures are in Tk. '000)

	Share capital	Retained earnings	Other component of equity	Total equity
Balance at 1 January 2025	11,613,735	2,242,288	14,093	13,870,116
Total comprehensive income for the period	-	895,526	8,495	904,021
Balance at 31 March 2025	11,613,735	3,137,814	22,588	14,774,137
Balance at 1 January 2026	11,613,735	2,595,307	(90,505)	14,118,537
Total comprehensive income for the period	-	712,187	-	712,187
Balance at 31 March 2026	11,613,735	3,307,494	(90,505)	14,830,724

Company Secretary

Chief Financial Officer

Director

Chief Executive Officer

LAFARGEHOLCIM BANGLADESH PLC. Statement of Cash Flows (Un-audited) for the period ended 31 March 2026

	Notes	Jan-Mar 2026 Taka'000	Jan-Mar 2025 Taka'000
Cash flows from operating activities
Cash receipts from customers		5,578,382	6,906,705
Cash paid to suppliers and employees		(9,894,766)	(9,660,857)
Cash generated from operations		(4,316,384)	(2,754,152)
Income tax paid		(385,570)	(175,457)
Other receipts		3,996	18,078
Net cash generated by operating activities		(4,697,958)	(2,911,531)
Cash flows from investing activities
Payments for property, plant and equipment		(442,688)	(529,014)
Interest income on bank deposits		48,758	36,574
Net cash used/generated by investing activities		(393,930)	(492,440)
Cash flows from financing activities
Repayments of the lease liabilities		(6,287)	(7,878)
Repayment of short term borrowings		-	(225,405)
Payment of interest and other finance cost		(6,433)	(5,929)
Interest paid on lease liability		(2,897)	(2,968)
Proceeds from Margin accounts with banks		275	11,920
Dividend payment		(7,190)	(151,893)
Net cash used in financing activities		(22,532)	(382,153)

Net increase/(decrease) in cash and cash equivalents		(5,114,420)	(3,786,124)
Cash and cash equivalents at beginning of the period		8,480,811	8,117,607
Net effect of foreign currency translation on cash and cash equivalents		382	941
Cash and cash equivalents at end of the period		3,366,773	4,332,424
Net Operating Cash Flow Per Share (NOCFPS)		(4.05)	(2.51)

Company Secretary

Chief Financial Officer

Director

Chief Executive Officer

LAFARGEHOLCIM BANGLADESH PLC.

Notes to the Condensed Financial Statements (Un-audited) for the period ended 31 March 2026

General information
LafargeHolcim Bangladesh PLC. - (hereinafter referred to as "the Company") was incorporated on 11 November 1997 as a private limited company in Bangladesh under the Companies Act, 1994 having its registered office in Dhaka. At the time of incorporation the name of the Company was "Lafarge Surma Cement Limited". On 07 February 2017 the Registrar of Joint Stock Companies and Firms of Bangladesh (RJSC) approved the name change to "LafargeHolcim Bangladesh Limited" of the Company. On 18 August 2024 the Registrar of Joint Stock Companies and Firms of Bangladesh (RJSC) further approved the name change to "LafargeHolcim Bangladesh PLC." of the Company. The Company has subsequently been converted into a public limited company on 20 January 2003 and went for Initial Public Offering of shares in November 2003 which was fully subscribed and issued. The shares have since been listed and are being traded in Dhaka and Chittagong Stock Exchanges.
Nature of business
The Company operates cement and aggregates manufacturing plants at Chhatak under Sunamganj district, and three (3) grinding plants near Dhaka and Khulna. The Company extracts and processes the basic raw materials of limestone from the quarry in Meghalaya, India, owned by the Company's fully owned subsidiary Lafarge Umiam Mining Private Limited. A 17 kilometres cross-border conveyor belt links the quarry with the cement plant for transportation of raw materials.
The company is engaged in manufacturing and marketing of building materials in the local market and international market.
Basis of preparation
The interim financial statements have been prepared in accordance with International Accounting Standard 34
Interim Financial Reporting.
Significant accounting policies
The same accounting policies, presentation and methods of computation have been followed in these interim financial statements as were applied in the preparation of the Company's financial statements for the year ended 31 December 2025.
Comparative figures and account titles in the financial statements have been rearranged/reclassified where necessary to conform with changes in presentation in the current period.
Gas sales agreement with JGTDS
The Gas Sales Agreement between LafargeHolcim Bangladesh PLC. (the "Company") and Jalalabad Gas Transmission and Distribution Systems Limited (JGTDS) ended on January 17, 2026 (the "Old GSA"). Thereafter, since January 18, 2026 JGTDS is supplying gas to the Company under two new Gas Sales Agreements (the "New GSAs") both dated June 24, 2025 and valid until January 18, 2036.
There was a dispute between the Company and JGTDS relating to the provisions of Ceiling Price of the Old GSA. The dispute was forwarded to an International Arbitration Tribunal. On September 15, 2023 the Tribunal passed the Award (the "Award") in favor of the Company declaring the Ceiling Price under the Old GSA as "valid and enforceable". JGTDS is yet to comply with the Award.
During the pendency of the Arbitration, in compliance with an Interim Order dated March 18, 2021 passed by the Appellate Division of the Supreme Court of Bangladesh, the Company paid JGTDS Taka 2,969.76 million as advance which is included in the Other Current Assets.
In the meantime, in November 2025, the Company filed the Money Decree Execution Case no. 35 of 2025 before the Court of District Judge, Dhaka in relation to the enforcement of the award.
On November 19, 2025 JGTDS served a Notice of Discontinuation of gas line which the Company challenged before the appropriate courts and on December 17, 2025 the Appellate Division passed an order (received by the Company on February 24, 2026) as follows:
1. The Learned District Judge, Dhaka is directed to conclude the proceedings of the aforesaid Money Decree Execution Case no. 35 of 2025 by February 28, 2026.
2. LHB to furnish a Bank Guarantee for an amount of Taka 4,000 million in favor of JGTDS.

The Money Decree Execution case is still pending and the Company has submitted the Bank Guarantee in compliance with the Order.

In the meantime, on March 12, 2026, JGTDS has filed a review petition before the Appellate Division challenging the aforesaid order of the Appellate Division passed on November 19, 2025. The review petition is currently pending before the Appellate Division.

6 Revenue	Jan-Mar 2026 Taka'000	Jan-Mar 2025 Taka'000
Sale of gray cement	6,500,636	6,860,954
Sale of cement clinker	-	17,246
Sale of aggregates	1,537,774	1,636,788
	8,038,410	8,514,988
7 Finance costs
Finance costs increased due to exchange loss during the period.
8 A. Income tax
Current income tax expenses	228,684	284,494
Deferred income tax income	(43,215)	(35,104)
	185,469	249,390
B. Reconciliation of effective tax rate (%)
Average statutory tax rate	20.00	20.00
Permanent differences	5.47	4.85
Deferred tax	(4.81)	(3.07)
Effect of change in tax rate	-	-
Effective tax rate	20.66	21.78
9 A. Earnings Per Share
The computation of basic earnings per share for the periods ended 2026	and 2025 are as follows:
Numerator (Thousand Taka)
Profit for the period	712,187	895,526
Denominator (Thousands of Shares)
Weighted average number of shares outstanding	1,161,374	1,161,374
Basic Earnings Per Share Taka	0.61	0.77
Diluted Earnings Per Share Taka	0.61	0.77

B. Net operating cash flow per share (NOCFPS)

The computation of net operating cash flow per share for the periods ended 2026 and 2025 are as follows:

Numerator (Thousand Taka)

Net operating cash flow for the period	(4,697,958)	(2,911,531)
Denominator (Thousands of Shares)
Weighted average number of shares outstanding	1,161,374	1,161,374
Net operating cash flow per share Taka	(4.05)	(2.51)
C. Net asset value (NAV) per share	31 Mar 2026	31 Dec 2025

The computation of net asset value per share for the periods ended 2026 and 2025 are as follows:

Numerator (Thousand Taka)

Net asset value for the period/year 14,830,724 14,118,537

Denominator (Thousand Shares)

Weighted average number of shares outstanding 1,161,374 1,161,374

Net asset value per share Taka 12.77 12.16

10 Related party transactions

Except for the regular transactions, there were no significant related party transactions during the period.

11 Comparative information for the shareholders	31 Mar 2026 Taka	31 Dec 2025 Taka
Net asset value (NAV) per share	12.77	12.16
	Jan-Mar 2026	Jan-Mar 2025
	Taka	Taka
Earning Per Share (EPS)	0.61	0.77
Net Operating Cash Flow Per Share (NOCFPS)	(4.05)	(2.51)
Profit for the period	712,187,000	895,526,000

For the period January to March 2026, EPS decreased compared to the previous period, mainly due to decreased cement sales. NOCFPS eroded compared to the same period of last year, due to increased payments to suppliers against local and imported purchases.

12 Reconciliation of consolidated Net Profit with cash flows from operating activities

	Jan-Mar 2026 Taka'000	Jan-Mar 2025 Taka'000
Net profit for the period	712,187	895,526
Income tax expenses	185,469	249,390
Net profit before tax	897,656	1,144,916
Depreciation and amortization	308,981	282,356
Other non-cash items	10,455	10,455
Non-operating items	(24,443)	25,759
Income tax paid	(385,570)	(175,457)
Changes in net working capital	(5,505,037)	(4,199,560)
Cash flows from operating activities	(4,697,958)	(2,911,531)

Company Secretary

Chief Financial Officer

Director

Chief Executive Officer

‌Ninakabbo, Level-7, 227/A, Bir Uttam Mir Shawkat Sarak (Tejgaon Gulshan Link Road) Tejgaon, Dhaka 1208, Bangladesh

Phone: +88 02 226601351, +88 02 226601352, Fax: +88 02 226601350

Email: Info.cs@lafargeholcim.com Web: https://www.lafargeholcim.com.bd

Earlier from Lafargeholcim Bangladesh

All Lafargeholcim Bangladesh news releases