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Company valuation reports, peer comparisons, results notes, industry reports and macro views, built from company filings and official data and independently reviewed before publishing. Company reports show their full model as view-only sheets. Facts and estimates, not investment advice.

4 articles.

Company · DSE:ANWARGALV · Engineering · Analysis · 29 Oct 2026

Anwar Galvanizing: a loss-making fittings plant carried by a borrowed share portfolio

FY2025 gross margin -8.6% and a Tk 372m net loss; FY2026 EPS Tk 8.26 came from a Tk 495m listed-share book funded by margin and group loans.

Company · DSE:GPHISPAT · Steel · Analysis · 29 Oct 2026

GPH Ispat: a modern melt-and-roll plant at half capacity, with finance cost taking 94% of operating profit

FY2026 revenue fell 30% to Tk 39.4bn as billet output dropped to 498,520 t. Gross margin rose to 17.9%, but Tk 5.5bn of finance cost left Tk 35m of profit. Borrowings are Tk 75.2bn; the rights issue is on hold.

Company · DSE:BSRMLTD · Steel · Initiation · 29 Oct 2026

BSRM Ltd fair value range Tk 45-140: a billet and rod maker plus a 31% BSRM Steels stake, with the taka as the swing factor

Fair value range Tk 45-140 by sum of the parts; price Tk 95.4 is inside it. FY27F EPS falls to Tk 19.06 from Tk 23.54 as power, the taka and a weaker BSRM Steels bite; the US$ trade loans are the swing factor.

Fair value ৳45–140 · price ৳95.40 (2026-10-29)

Company · DSE:BSRMSTEEL · Steel · Initiation · 29 Oct 2026

BSRM Steels earns Tk 8,568/t through the cycle; the price implies Tk 8,030/t

Fair value Tk 52-144 (base 110) vs price 90.6; base = 5.5x mid-cycle EV/EBITDA at Tk 8,500/t. Scrap prices, the taka and rod demand decide FY27.

Fair value ৳52–144 · price ৳90.60 (2026-10-29)