Pharma Aids financial analysis: 9M FY2026 sales up 17.6%, sponsors at 19.38% (Oct 2026)

Investment considerations: FY2025 sales the highest of seven years printed, BDT 27.3m of borrowings, a 30% gross margin and a sponsor holding below 30%

Pharma Aids Limited makes one product family: neutral glass ampoules, the small sealed glass containers that injectable medicines are filled into. It sells all of its output to pharmaceutical companies in Bangladesh in local currency and does not export; its main raw materials, neutral glass tubes and colours, are imported by sight letter of credit [1 p.51]. The company was listed on the Dhaka Stock Exchange in 1987, is in the A category, has 3.12m shares of BDT 10 each and has not changed its share count since the face value was converted from BDT 100 to BDT 10 on 4-Dec-2011 [8] [1 p.52]. Its factory is at Chandra, Kaliakoir, Gazipur, and its registered office is at 345 Segun Bagicha, Dhaka [1 p.6].

Period check. The latest audited accounts cover the year to 30-Jun-2025: the statement of financial position is headed 'As on June 30, 2025', the income statement 'For the year ended June 30, 2025', and both were approved by the board and signed by the auditor on 6-Nov-2025 [1 p.41] [1 p.42]. The latest interim statements cover the nine months to 31-Mar-2026 [2 p.2]. On 27-Oct-2026 DSE posted the company's notice that its board will meet on 3-Nov-2026 to consider the audited accounts for the year to 30-Jun-2026 [7]. The FY2025 accounts went to the board on 6-Nov-2025 [7], and the FY2024 auditor's report is dated 7-Nov-2024, with the FY2024 results posted on DSE the same day [3 p.39] [7]. A 3-Nov-2026 board date is earlier than both precedents, so this note treats FY2026 as not yet published rather than overdue.

Seven years in the directors' table. The directors print a seven-year table covering FY2019 to FY2025 [1 p.10]. Net sales rose from BDT 249.1m in FY2019 to BDT 438.1m in FY2025. The figures by year are BDT 249.1m, 269.6m, 280.3m, 323.0m, 308.5m, 421.2m and 438.1m. Net profit after tax was BDT 48.3m in FY2019, BDT 52.5m in FY2020, BDT 50.3m in FY2021, BDT 34.8m in FY2022, a loss of BDT 6.4m in FY2023, BDT 61.2m in FY2024 and BDT 63.8m in FY2025 [1 p.10]. FY2025 profit is the highest in the table; FY2023 is the only loss year. In FY2023 the printed income tax of BDT 16.7m was larger than the printed pre-tax profit of BDT 10.3m [1 p.10]; the table does not explain the tax charge, and this note did not read the FY2023 tax note.

The most recent nine months. In the nine months to 31-Mar-2026, net sales were BDT 384.7m against BDT 327.1m a year earlier, up 17.6%, and profit after tax was BDT 63.0m against BDT 49.2m, up 28.1% [2 p.2]. EPS for the nine months was BDT 20.20, already close to the full FY2025 EPS of BDT 20.45 [2 p.2] [1 p.42]. In its DSE disclosure the company gave this reason: 'EPS has increased compared to previous year's 3rd quarter due to increase in sales, resulting from expansion of production capacity' [7]. The quarterly EPS figures it posted were BDT 6.81 for July-September 2025, BDT 7.28 for October-December 2025 and BDT 6.11 for January-March 2026 [7].

Market data, stated as facts. The close on 29-Oct-2026, the last DSE session before the note date, was BDT 544.6, giving a market capitalisation of BDT 1,699.2m [11]. Trailing EPS to March 2026, derived as FY2025 EPS of BDT 20.45 less 9M FY2025 EPS of BDT 15.77 plus 9M FY2026 EPS of BDT 20.20, is BDT 24.88, so the trailing P/E is 21.9x; NAV per share at 31-Mar-2026 was BDT 155.55, so P/B is 3.50x [12] [2 p.1]. The June-end P/E in the directors' table ranged from 24.3x (FY2020) to 73.2x (FY2022) in the profit years [12]. These are multiples only; the note makes no statement about the share price.

Business model: one plant making glass ampoules for local drug makers

How the company makes money. Revenue is the sale of glass ampoules to drug makers. The revenue note shows gross sales of BDT 509.4m in FY2025, less VAT of BDT 66.4m and discounts of BDT 4.9m, giving net sales of BDT 438.1m [1 p.57]. The note adds that the 'Percentage of Trade discount is not fixed on sales. It varies from customer to customer' [1 p.57]. The company reports a single operating segment, with all non-current assets in Bangladesh [1 p.65]. The audit committee report states that sales receivables of BDT 16,09,12,594 (BDT 160.9m) were due from 34 entities at the year end [1 p.28]; the filing does not name customers or give a customer split.

Production process. Notes to the accounts state that 'Turning Raw Materials into Finished Goods takes a very little time (glass tubes are converted into ampoules by burners). So, we do not require to hold any work-in-process' [1 p.61]. The audit committee report, written in Bengali, says the factory runs six machines in three shifts, 24 hours a day, making on average about 5.00 lakh pieces a day, and that a seventh machine was imported after the reporting period [1 p.28]. Note 42 on events after the reporting period states: 'New Machine has been installed, and Production has also started' [1 p.64].

Capacity and output: two printed figures. Note 30 prints installed capacity of 1,540 lakh pieces in both FY2024 and FY2025, actual production of 1,454 lakh pieces in FY2024 and 1,345 lakh pieces in FY2025, and utilisation of 94.42% and 87.34% [1 p.60]. The directors' seven-year table prints production of 1,680.79 lakh pieces for FY2024 and 1,628.12 lakh pieces for FY2025 [1 p.10]. The two sets of figures do not agree and the filing does not reconcile them; this note shows both and flags the difference. Both show lower output in FY2025 than FY2024. The directors' table shows production of 1,232.34 lakh pieces in FY2019, so on that basis output rose 32.1% over six years while net sales rose 75.9% [1 p.10] [12].

Price per unit. Net sales per thousand pieces produced, derived from the directors' table, was BDT 2,021 in FY2019 and BDT 2,691 in FY2025 [12]. Note 20 prints an average selling price of BDT 2,697.14 per 1,000 pieces for FY2025 and BDT 2,510.02 for FY2024 [1 p.58]. When the company announced its FY2024 results it gave as the reasons for the change in EPS: 'The increase in selling price, the toll production, coupled with raw material cost minimization efforts' [7]. A toll charge of BDT 14.1m appears inside cost of goods sold in FY2025 (BDT 10.8m in FY2024) [1 p.57]; the filing does not explain the toll arrangement further.

People and group. Note 34 shows 94 employees drawing salary above BDT 96,000 a year in FY2025 and 86 in FY2024 [1 p.61]; the audit committee report gives a total of 115, being 92 permanent and 23 temporary staff [1 p.28]. The company is part of the Excelsior group: the related-party note lists Excelsior Corporation Ltd. under 'Common Management' [1 p.61].

Line items: glass tubes are 54% of cost of goods sold and gross margin was 30.3% in FY2025

Net sales. The two drivers the filing gives are volume and price. Net sales grew 36.5% in FY2024, the largest annual increase in the seven-year table, and 4.0% in FY2025 [12]. VAT was 13.0% of gross sales in both FY2024 and FY2025 (derived) [1 p.57]. For FY2025 the directors wrote that 'Demand from pharmaceutical companies was subdued, particularly between October 2024 and March 2025, most likely due to patients' reduced ability to purchase injectable medicines amid inflation and our clients' prior overstocking' [1 p.10].

Cost of goods sold. Neutral glass tubes are the largest cost: BDT 163.8m in FY2025, 53.6% of cost of goods sold, against BDT 163.6m and 56.2% in FY2024 [1 p.57] [12]. Energy is the second block: gas BDT 23.5m, oxygen BDT 12.0m and electricity BDT 9.8m, together 14.8% of cost of goods sold in FY2025 [1 p.57] [12]. Factory salary and wages were BDT 32.1m. Spare parts rose from BDT 1.3m to BDT 2.6m and factory and machine maintenance from BDT 0.9m to BDT 2.3m [1 p.57]. The directors refer to 'electricity and Titas gas crises, forcing the use of more expensive energy sources like CNG and LPG' and to higher maintenance and spare-parts spending 'to reduce wastage' [1 p.10].

Exchange rate. The company states it 'does not have any foreign currency account and does not do any export', that tubes and colours are imported by sight L/C 'where payments are made at spot exchange rate mostly within 60-75 days from the L/C opening date', and that 'since July 2022, the cost of importing primary raw materials, mainly neutral glass tubes, has increased significantly due to the drastic depreciation of BD Taka against the US Dollar' [1 p.51]. Gross margin in the directors' table was 32.23% in FY2022, 16.86% in FY2023, 30.89% in FY2024 and 30.28% in FY2025 [1 p.10]. Note 33 reports no foreign-exchange gain or loss [1 p.61].

Imported goods: a total that does not foot. Note 35 prints FY2025 imports of neutral glass tubes of BDT 156,358,292 and colours of BDT 69,507,824, with a total of BDT 451,732,232 [1 p.61]. The two lines add to BDT 225,866,116, half the printed total; the FY2024 lines (BDT 166,605,976 and BDT 5,657,319) add to the printed BDT 172,263,295. The note also shows colours imports of BDT 69.5m in FY2025 against printing-materials consumption of BDT 10.7m in note 20 [1 p.57]. Both items are flagged; this note uses the consumption figures in note 20, which tie to cost of goods sold.

Administrative and selling expenses were BDT 45.2m in FY2025, 10.3% of net sales, and 9.1% in 9M FY2026 [1 p.42] [2 p.2] [12]. Financial cost was BDT 1.8m in FY2025 against BDT 0.4m in FY2024; the directors say 'financial costs rose to support working capital during capital expenditures such as importing new machinery' [1 p.10]. Note 43 states interest of Tk 21,93,332 on a trust-receipt limit of BDT 6 crore [1 p.65].

Tax. Income tax expense was BDT 18.5m in FY2025, 22.5% of profit before tax, against 27.6% in FY2024 [1 p.42] [12]. The tax note computes the provision as the higher of tax at 22.50%, tax deducted at source and minimum tax of 1% of revenue [1 p.59]. The EPS note gives as the reason for higher FY2025 EPS 'increase in sales and decrease in income tax expense compared to last year' [1 p.60]. A sensitivity from history: each 1pp of gross margin on FY2025 net sales was BDT 4.4m of gross profit (derived) [12].

Ratios: ROE of 16.5% in FY2025 and NOCF below EPS in every profit year

Growth and margins. Net sales grew in five of the six years FY2020-FY2025; FY2023 was the only fall (-4.5%) [12]. Gross margin, recomputed from the printed sales and gross profit, was highest in FY2020 at 39.64% and lowest in FY2023 at 16.86% [12]. Net margin was 14.6% in FY2025 and 16.4% in 9M FY2026 [12].

Returns. ROE, computed as EPS over the average of opening and closing NAV per share, was 21.9% in FY2020, 18.3% in FY2021, 11.6% in FY2022, -2.2% in FY2023, 19.5% in FY2024 and 16.5% in FY2025 [12]. FY2025 equity includes a land revaluation reserve of BDT 33.8m booked in the year [1 p.41].

NAV per share, figure by figure. The directors' table prints NAV per share of BDT 71.08 (FY2019), 82.54 (FY2020), 93.26 (FY2021), 98.83 (FY2022), 91.28 (FY2023), 109.89 (FY2024) and 138.58 (FY2025) [1 p.10]. Each year's change, less EPS and less the prior year's cash dividend, leaves residuals of BDT -0.36, -0.39, -0.57, -0.50, 0.00 and +10.74 a share for FY2020 to FY2025 [12]. For FY2025 the residual is BDT +10.74 a share; the revaluation reserve of Tk 33,764,038 (surplus Tk 35,919,189 less deferred tax Tk 2,155,151) is BDT 10.82 a share on 3.12m shares [1 p.42] [1 p.41], leaving BDT -0.08 a share (about BDT 0.27m) not explained in the table. The NAV note states: 'NAV has increased due to revaluation of land and increase in retained earnings' [1 p.60]. The small negative residuals in FY2020-FY2023 are not explained in the table and are flagged. The interim NAV figures posted on DSE were BDT 145.32 (30-Sep-2025), 149.54 (31-Dec-2025) and 155.55 (31-Mar-2026) [7]; the December step of BDT 4.22 is smaller than the quarter's EPS of BDT 7.28, and the 9M FY2026 statement of changes in equity shows the BDT 9.36m FY2025 cash dividend deducted in the period [2 p.3].

EPS, figure by figure. Printed EPS was BDT 15.48 (FY2019), 16.82 (FY2020), 16.11 (FY2021), 11.14 (FY2022), -2.05 (FY2023), 19.61 (FY2024) and 20.45 (FY2025) [1 p.10]. In FY2023 the printed tax charge exceeds printed pre-tax profit [1 p.10].

Cash conversion and payout. NOCF per share was below EPS in every profit year: the ratio ranged from 0.37 (FY2024) to 0.97 (FY2022) [12]. NOCF per share was highest in FY2020 at BDT 13.04; FY2025 was BDT 12.74 [1 p.10]. Cash dividends were 50% of par (BDT 5.00) for FY2019-FY2022, 10% for FY2023, 25% for FY2024 and 30% for FY2025 [1 p.10]; payout over EPS was 12.7% for FY2024 and 14.7% for FY2025 [12]. The FY2025 declaration stated: 'The 30% Cash Dividend is recommended keeping in mind the necessity of funds for land acquisition and the upcoming BMRE project' [7].

Peers. The peer set is three June-year-end DSE pharmaceutical companies with AnalystBro analysis notes, each read from its own FY2025 annual report on a standalone basis: Orion Infusion (IV fluids), Asiatic Laboratories and Navana Pharmaceuticals (formulations) [4 p.92] [5 p.70] [6 p.283]. Pharma Aids makes packaging for drug makers rather than medicines, so the comparison is of scale and financial structure. Within this set of four, Pharma Aids had the lowest gross margin (30.3%), the lowest finance cost relative to revenue (0.4%), the highest net margin (14.6%) and the highest ROE on closing equity (14.8%) [12]. Finance-cost labels as printed: 'Financial Cost' (Pharma Aids), 'Financial Expenses' (Orion Infusion; Asiatic, which prints 'Interest on Lease Liability' of BDT 5.9m on a separate line, excluded here) and 'Finance expenses' (Navana); all are gross, and every company shows WPPF on its own line.

Peers' audit opinions, read from each filing. Orion Infusion's auditor wrote that the financial statements 'give true and fair view' and added three emphasis-of-matter paragraphs, stating 'Our report is not modified in respect of these matters' [4 p.86]. Asiatic's auditor wrote that the statements 'give a true and fair view, in all material respect' with no emphasis paragraph on the opinion page [5 p.64]. Navana's auditor gave a true-and-fair opinion with one emphasis of matter on a BDT 139.45 crore VAT show-cause notice, stating 'Our opinion regarding this issue is not modified' [6 p.278].

Balance sheet: borrowings of BDT 27.3m (6.3% of equity), BDT 184m of receivables and an 'except for' opinion

Assets. Total assets were BDT 580.9m at June 2025 and BDT 647.2m at March 2026 [1 p.41] [2 p.1]. The largest asset lines at June 2025 were 'Advance, Deposit & Prepayments' of BDT 220.8m and 'Trade and Other Receivables' of BDT 184.2m [1 p.41]. In FY2025 the company paid advances of BDT 51.9m against machinery, BDT 13.5m against land and BDT 0.9m against building [1 p.44]. Property, plant and equipment rose from BDT 93.8m at June 2025 to BDT 140.3m at March 2026, with additions at cost of BDT 54.3m in the nine months [2 p.5], while advances fell to BDT 187.8m [2 p.1].

Receivables. Trade and other receivables were BDT 153.4m at June 2024, BDT 184.2m at June 2025 and BDT 194.6m at March 2026, of which BDT 171.3m trade and BDT 23.2m other [2 p.5]. On net sales that is 133, 153 and 138 days (March on annualised nine-month sales; derived) [12]. The auditor's key audit matter reads: 'Also, due Tk. 3,657,055 above 12 months, in last year was Tk. 153,426,351' [1 p.38]; the prior-year figure quoted equals the whole June 2024 receivable balance, so the two figures are not on the same basis, and this is flagged. The audit committee report states that of other receivables of BDT 2,32,43,951, BDT 10,24,567 is due from one Excelsior group company and BDT 2,22,19,384 from a private limited company that is not part of the Excelsior group and is not run by any board member, whose details, the report says (in Bengali; paraphrased here), were not published to protect its privacy [1 p.28]. A bad-debt provision of BDT 3.2m was held at June 2025 [1 p.54].

Related parties. Note 38 lists one related party: Excelsior Corporation Ltd., relationship 'Common Management', nature 'Loan', with a receivable of BDT 1,024,567 at both June 2025 and June 2024 and no debit or credit in FY2025 [1 p.61]. The note says transactions are at arm's length 'other than sister concern which is interest free' [1 p.61]. Directors' remuneration and honorarium in note 25 was BDT 13.86m in FY2025 [1 p.59].

Liabilities and cash. Interest-bearing borrowings were the bank trust-receipt loan from Al-Arafah Islami Bank of BDT 9.6m and 'Loans from others' of BDT 17.7m, which the note says 'comprises loans from the WPPF, Providend Fund, and one individual' [1 p.54]. At March 2026 the bank loan line was nil and loans and advances were BDT 17.3m [2 p.1]. Cash was BDT 11.2m at June 2025 and BDT 39.2m at March 2026 [1 p.41] [2 p.1]. Note 7 names two dormant bank balances, at Pubali Bank (Principal Branch) and AB Bank (Chandra Branch) [1 p.51]. Income tax payable was BDT 68.6m at June 2025 and BDT 87.5m at March 2026 [1 p.41] [2 p.1].

Contingencies. Note 32 records a disputed claim of arrear excise duty of Tk 12.39 lakh for 1984-1989 [1 p.61]. Note 39 sets out income-tax demands for 2004-05 to 2006-07 that the company disputes and for which it has asked for certified copies of the assessment orders [1 p.62]. Note 40 describes a VAT show-cause notice demanding Tk 2,14,64,592.42 (excluding interest) for FY2018-FY2021; the note states 'The case is still in process and not yet settled' [1 p.63].

Auditor's opinion, as printed. The FY2025 report by Kazi Zahir Khan & Co. states: 'In our opinion, except for the effects of the matter described in the Basis for Opinion section of our report, the accompanying Financial Statements present fairly, in all material respects, the Financial Position of the company as at 30 June 2025, its Financial Performance and its Cash Flows for the year then ended ...' [1 p.35]. The 'Basis for Opinion' section that follows describes no matter; it states the standards applied and that 'the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion' [1 p.35]. The 'Emphasis of Matters' section opens: 'We draw attention to the following matters through our report is not qualified in those regard' [1 p.38]. DSE posted the item on 14-Dec-2025 under the title 'Emphasis of Matter' [7]. The opinion wording and the emphasis section conflict; both are stated here and flagged. For FY2024 the auditor, Shafiq Basak & Co., gave a 'Qualified Opinion' [3 p.35].

Governance: chairman died in Nov-2025 and the sponsor holding was 19.38% at Sep-2026

Board as printed in the FY2025 annual report (page in Bengali): Mr. M. A. Masud, Chairman; Mr. Foyezul Hasan, Managing Director; Mrs. Shahinoor Baby, Director; Mrs. Shahinoor Begum, Director; Ms. Fatema Rowshan Jahan, Independent Director; Mr. Md. Mominul Hoque Dhali, Independent Director; and Mr. Md. Humayun Kabir, Company Secretary [1 p.6]. The English signature blocks spell the managing director 'FAIZUL HASSAN' and name the Chief Financial Officer as Muhibul Hassan Adil [1 p.41]. The board-fee note lists six directors who attended meetings in FY2025 and says '04 (Six) Board Meetings were held' [1 p.60]; the count is printed both ways and is flagged.

Audit committee as printed: Mr. Md. Mominul Hoque Dhali (Independent Director), Chairman; Mrs. Shahinoor Baby (Director), Member; Mrs. Shahinoor Begum (Director), Member; Mr. Md. Humayun Kabir (Company Secretary), Secretary; four meetings were held [1 p.28]. Statutory auditor: Kazi Zahir Khan & Co.; compliance auditor: Shafiq Basak & Co. [1 p.6].

Changes since June 2025. The directors' report states that the chairman, Mr. M. A. Masud, died on 11-11-2025 [1 p.10]. The AGM notice dated 4-Dec-2025 proposed electing his sons Mr. Md. Nurul Mahbub and Mr. Mahir Musleh as directors 'subject to holding at least 2% shares of paid-up capital within the stipulated time', and Mr. Md. Selim Reza as a new independent director 'subject to approval by the BSEC' [1 p.7]. The AGM was held on 24-Dec-2025 [8]; this note found no filing showing the outcome of those elections (passed, outcome unknown). The 31-Mar-2026 interim statements are signed by Shahinoor Baby as Chairperson [2 p.1]. On 13-Apr-2026 DSE posted the transmission of the late chairman's 149,500 shares: 18,688 to Mrs. Shahinoor Baby, 52,325 to Mr. Md. Nurul Mahbub, 26,162 to Mrs. Farzina Binty Masud and 52,325 to Mr. Mahir Musleh [7].

Ownership. DSE shows sponsors and directors at 23.58%, institutions 16.39% and the public 60.03% at 30-Jun-2025, and sponsors and directors at 19.39% at 31-Aug-2026 and 19.38% at 30-Sep-2026, with institutions at 20.35% and the public at 60.27% [8]. The auditor states the 23.58% 'falls short to the minimum require shareholding of 30% of paid-up capital' [1 p.38].

DSE news, 24 months (posts from 7-Nov-2024 to 27-Oct-2026). Besides results and dividends, the archive contains: on 14-Nov-2024, a board decision 'to invest Company's own fund to import 01(one) complete line of brand new machine within June 2025 for manufacturing ampoules and expanding production' and approval of a revaluation of 36.00 decimals of factory land at Chandra, Kaliakoir from a book value of Tk 80,811 to Tk 3,60,00,000; a 'Qualified Opinion' post on 20-Nov-2024; credit ratings from National Credit Ratings of 'A' long term and 'ST-2' short term on 1-Jan-2025 and 30-Dec-2025; an 'Emphasis of Matter' post on 14-Dec-2025; and the share-transmission post of 13-Apr-2026 [7]. The managing director's message in the annual report, in Bengali, says the purchase of 103 decimals of land for expansion requires government permission because it is classed as agricultural land, and that the permission had not been obtained [1 p.8].

What's next: FY2026 accounts go to the board on 3-Nov-2026

Scheduled or announced items after 31-Oct-2026. Already-announced results (the 9M FY2026 figures) are discussed above, not here. Dates marked '(inferred)' are based on all precedents in the DSE archive; where no date has been notified, that is stated.

LDC graduation. The UN General Assembly adopted on 29-Oct-2026 in New York (30-Oct-2026 in Dhaka) a move of Bangladesh's graduation from least-developed-country status from 24-Nov-2026 to 24-Nov-2029 [9] [10]. Pharma Aids' filings read for this note do not discuss LDC graduation, so no line item is attached to it here.

Land and BMRE. The FY2024 and FY2025 dividend declarations both cite 'land acquisition' and a BMRE project [7], and the FY2025 cash-flow statement shows BDT 13.5m paid as advance against land [1 p.44]. No completion date, budget or approval date for the land purchase is given in the filings read, and the managing director's message says government permission had not been obtained [1 p.8]. It is therefore not in the table above.

Risks: imported glass tubes, energy supply, receivables and the sponsor holding

Risks are listed with the line each one moves, using only what the filings state. No probabilities are attached.

Key questions: output figures, the audit wording, receivables and the board

FAQ

What does Pharma Aids make?

Neutral glass ampoules, sold to pharmaceutical companies in Bangladesh; it does not export [1 p.51].

When does Pharma Aids' fiscal year end?

30 June. The latest audited year ran to 30-Jun-2025 [1 p.42]; FY2026 accounts go to the board on 3-Nov-2026 [7].

How much did Pharma Aids earn in FY2025?

Net profit after tax of BDT 63.8m, EPS of BDT 20.45, on net sales of BDT 438.1m [1 p.42].

Did the auditor qualify the FY2025 accounts?

The opinion text uses the words 'except for the effects of the matter described in the Basis for Opinion section', while the emphasis section says the report 'is not qualified in those regard'; DSE posted it as an emphasis of matter [1 p.35] [1 p.38] [7]. FY2024 had a qualified opinion [3 p.35].

How much debt does Pharma Aids have?

At June 2025, a BDT 9.6m bank trust-receipt loan and BDT 17.7m of loans from others; at March 2026 the bank loan line was nil [1 p.41] [2 p.1].

What dividend did Pharma Aids pay for FY2025?

30% cash, BDT 3.00 a share, BDT 9.36m in total [1 p.64].

Sources

1. Pharma Aids Limited Annual Report 2024-25 (year to 30-Jun-2025; auditor's report dated 6-Nov-2025) · link · accessed 2026-11-01
2. Pharma Aids Limited un-audited financial statements, nine months to 31-Mar-2026 · link · accessed 2026-11-01
3. Pharma Aids Limited Annual Report 2023-24 (year to 30-Jun-2024; auditor's report dated 7-Nov-2024) · link · accessed 2026-11-01
4. Orion Infusion Limited Integrated Annual Report 2024-25 · link · accessed 2026-11-01
5. Asiatic Laboratories Limited Annual Report 2024-25 · link · accessed 2026-11-01
6. Navana Pharmaceuticals PLC Annual Report 2024-25 · link · accessed 2026-11-01
7. Dhaka Stock Exchange news archive for PHARMAID (board meetings, results, dividend, transmission of shares, credit rating, auditor opinions; posts 7-Nov-2024 to 27-Oct-2026) · link · accessed 2026-11-01
8. Dhaka Stock Exchange company page for PHARMAID (category A, shareholding at 30-Jun-2025, 31-Aug-2026 and 30-Sep-2026, dividend history, last AGM 24-Dec-2025) · link · accessed 2026-11-01
9. The Daily Star, 'Bangladesh gets 3 more years for LDC graduation' (30-Oct-2026) · link · accessed 2026-11-01
10. The Business Standard, 'Bangladesh gets 3 more years before LDC graduation' (30-Oct-2026) · link · accessed 2026-11-01
11. AnalystBro price data (TradingView feed): DSE:PHARMAID daily bars, 30-Oct-2025 to 29-Oct-2026 · link · accessed 2026-11-01
12. AnalystBro model for this report (workbook tabs below) · link · accessed 2026-11-01