Research

A 100% export shoe maker in Barishal with FY2025 revenue of BDT 2,513.3m and profit of BDT 18.0m. The auditor gave a disclaimer of opinion on the FY2025 accounts, citing BDT 756.0m of cash withdrawals it could not substantiate. The nine months to March 2026 show revenue of BDT 839.3m and a loss of BDT 148.9m.

A 100% deemed exporter of dyed sewing thread to Bangladesh garment makers. Turnover rose 20.0% in FY2025 on 15.4% more kilograms; short-term loans were 81.4% of borrowings at 30-Jun-2025; the FY2026 audited results posted on 11-Oct-2026 show EPS of BDT 1.25 and NAV of BDT 22.72.

A 100% export shoe maker that nearly stopped selling in FY2023 (revenue BDT 1.76m) raised its share capital to BDT 430.8m, settled its Rupali Bank loan and is rebuilding volume: FY2025 revenue rose to BDT 55.8m and 9M FY2026 revenue more than doubled, while the BDT 7.1m of FDR interest was larger than the BDT 3.8m profit before tax.

Gross premium fell 15.9% in 2025 to BDT 2,826.6m and claims paid were 101.5% of it. The life fund closed 2025 at BDT 15,735.1m, down from BDT 18,896.4m in 2020, and was BDT 15,166.1m at Sep-2026. The 2025 audit opinion is unmodified with an emphasis of matter on deposits with seven distressed banks and finance companies.

A sweater maker and spinner whose revenue fell from BDT 1,921.8m in FY2019 to BDT 421.1m in FY2025; trade receivables were BDT 2,247.3m at 30-Jun-2025, BDT 1,108.4m of it from four companies under common management, and the FY2025 auditor's report carries a "Qualified Opinion" section with two items and five emphasis-of-matter paragraphs.

A Dhaka general insurer writing 70.4% of its premium in marine cargo. In 2025 gross premium rose to Tk 1,250.1m, underwriting profit fell to Tk 36.2m, interest income was Tk 53.8m and EPS Tk 1.35; nine-month 2026 EPS was Tk 0.93 (2025: Tk 0.98).

A Dhaka general insurer with Tk 959.3m of bank FDRs and Tk 693.9m of outstanding claims. In 2025 gross premium fell 23.4%, interest income was Tk 77.8m, underwriting profit Tk 63.0m and EPS Tk 1.68; nine-month 2026 EPS was Tk 1.32 against Tk 1.36.

A Dhaka general insurer with fire and marine cargo at 87.5% of 2025 gross premium and two capital-market subsidiaries. 2025 consolidated EPS was Tk 0.69 and nine-month 2026 EPS Tk 1.07 (DSE); the 2025 audit opinion is qualified.

A Dhaka general insurer with marine cargo at 53.4% of 2025 gross premium. 2025 EPS was Tk 1.13 and nine-month 2026 EPS Tk 1.38 (DSE); the unmodified 2025 audit opinion carries seven emphasis-of-matter paragraphs.

A Dhaka non-life insurer. 2025 net premium Tk 619.29m and EPS Tk 1.29; H1 2026 EPS Tk 1.48 (DSE). Unmodified 2025 audit opinion with one emphasis paragraph on WPPF; the company told DSE that IDRA fined it for excess management expenses in 2020-2024.

Gross premium fell 21.5% in 2025 after a 69.5% fall in 2024. The life fund was BDT 533.7m at Dec-2025 and BDT 469.4m at Sep-2026 (DSE-announced). The auditor's report carries three emphasis of matter paragraphs and states the opinion is not modified; the board recommended no dividend for 2025.

A Dhaka general insurer with fire and marine cargo at 77.9% of 2025 gross premium. 2025 EPS was Tk 1.02 and nine-month 2026 EPS Tk 1.02 (DSE); the 2025 audit opinion carries no emphasis paragraph.

A Dhaka non-life insurer. 2025 net premium Tk 455.52m and EPS Tk 2.09; nine-month 2026 EPS Tk 1.76 (DSE). Unmodified 2025 audit opinion with one emphasis-of-matter paragraph on a cover-note restatement.

A Dhaka general insurer with fire and marine cargo at 81.2% of 2025 gross premium. 2025 EPS was Tk 3.34 and nine-month 2026 EPS Tk 3.05; Tk 87.2m of FDRs sit with five named banks.

A Dhaka non-life insurer. 2025 gross premium Tk 820.7m and EPS Tk 2.51; nine-month 2026 EPS Tk 2.55 (DSE). The 2025 audit opinion is qualified, with six emphasis-of-matter paragraphs.

A 100% export knit-fabric maker whose FY2025 revenue was BDT 1,507.4m (down 2.9%) and profit after tax rose 14.0% to BDT 203.6m; foreign-exchange gains and others income were 47.6% of FY2025 pre-tax profit, and the FY2026 EPS posted on the DSE on 27-Oct-2026 was BDT 3.71.

A Dhaka general insurer that earns most of its profit from deposits. 2025 EPS was Tk 2.87 and nine-month 2026 EPS Tk 2.86; the auditor qualified the 2025 accounts and names Tk 264m of FDRs in five banks.

A fire- and marine-led Dhaka general insurer that cedes 58% of its premium. 2025 EPS was Tk 1.10 under an unmodified audit with emphasis on unconfirmed bank, FDR and co-insurance balances; nine-month 2026 EPS was Tk 1.11 against Tk 0.69.

A knit-garment exporter whose company-only revenue reached BDT 10.1bn in FY2025 while financial expenses took 6.4% of it; BDT 2.77bn sat in capital work-in-progress for the Valuka building until 2025-26, and the consolidated FY2026 result announced on 29-Oct-2026 was a loss of BDT 2.68 a share.

A fire-led Dhaka general insurer with Tk 904m of fixed deposits and a Tk 297m overdraft. 2025 EPS was Tk 1.51 under a qualified audit opinion on management expenses and unconfirmed co-insurance balances; nine-month 2026 EPS was Tk 1.74 against Tk 1.73.

Gross premium fell 6.1% in 2025 and first year premium was BDT 720.2m. The life fund closed 2025 at BDT 5,008.9m and was BDT 4,789.9m at Sep-2026 after deficits in each of the first three quarters. The auditor qualified the opinion on cash at bank (BDT 419.0m of unreconciled items) and an agent balance of BDT 249.0m with no provision.

Gross premium rose 8.3% to BDT 8.66bn in 2025 and the life fund grew 11.3% to BDT 8.96bn, but maturity claims reached BDT 2.86bn and the fund fell by BDT 40.0m in Q3 2026. BDT 5.31bn sits in one product with five banks, BDT 3.89bn of it at one bank. A BDT 1,098.4m receivable from before 2023 is unreconciled and under legal recovery.

Gross premium fell to BDT 5.01bn in 2025, back to its 2017 level, while maturity claims of BDT 4.20bn took claims to 90.3% of premium. The life fund fell in 6 of the last 8 years and the Q3 2026 deficit of BDT 1,320.6m took it to BDT 13.82bn. EPS fell to BDT 1.47; the board kept a 20% cash dividend. The auditor qualified the 2025 accounts over cash commission payments and outstanding premium.