DSE : APEXTANRY
Apex Tannery Limited — Financial statements
Footwear, Except Rubber · Bangladesh
Last price 71.6 BDT (At close: Oct 29, 2026) · Market cap 1.09B
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Financial statements
Apex Tannery Limited (APEXTANRY) reported revenue of 557.58M BDT (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 557.58M | 613.66M | 804.39M | 837.28M | 1.28B | 1.27B |
| Cost of Revenue | 509.30M | 538.18M | 705.82M | 780.13M | 1.04B | 1.03B |
| Gross Profit | 48.28M | 75.49M | 98.57M | 57.15M | 239.36M | 233.26M |
| Selling, General & Admin | 33.74M | 37.14M | 48.55M | 61.02M | 86.80M | 81.94M |
| Other Operating Expenses | -1.00 | |||||
| Operating Expenses | 34.65M | 38.04M | 50.76M | 63.85M | 90.27M | 86.36M |
| Operating Income | 13.63M | 37.44M | 47.81M | -6.70M | 149.09M | 146.90M |
| Interest Expense | -324.11M | -300.59M | -216.73M | -141.94M | -146.62M | -152.99M |
| Interest & Investment Income | 2.95M | 2.95M | 3.55M | 2.53M | 2.38M | 1.73M |
| Currency Exchange Gain (Loss) | 1.89M | 1.89M | 2.32M | 2.15M | 430.94K | 349.86K |
| Other Non Operating Income (Expenses) | 46.59M | 45.53M | 45.49M | 40.98M | 32.52M | 28.67M |
| EBT Excluding Unusual Items | -259.05M | -212.77M | -117.56M | -102.98M | 37.79M | 24.66M |
| Gain (Loss) on Sale of Assets | 2.93M | 61.66K | 446.02K | |||
| Pretax Income | -259.05M | -212.77M | -114.62M | -102.98M | 37.86M | 25.11M |
| Income Tax Expense | 11.01M | 10.06M | 12.01M | 21.49M | 25.35M | 19.88M |
| Net Income | -270.06M | -222.84M | -126.64M | -124.47M | 12.51M | 5.22M |
| Net Income to Common | -270.06M | -222.84M | -126.64M | -124.47M | 12.51M | 5.22M |
| Shares Outstanding (Basic) | 15.24M | 15.24M | 15.24M | 15.24M | 15.24M | 15.24M |
| Shares Outstanding (Diluted) | 15.24M | 15.24M | 15.24M | 15.24M | 15.24M | 15.24M |
| EPS (Basic) | -17.72 | -14.62 | -8.31 | -8.17 | 0.82 | 0.34 |
| EPS (Diluted) | -17.72 | -14.62 | -8.31 | -8.17 | 0.82 | 0.34 |
| Free Cash Flow | -112.31M | 39.33M | -22.32M | 79.95M | 96.30M | 105.57M |
| Free Cash Flow Per Share | -7.37 | 2.58 | -1.47 | 5.25 | 6.32 | 6.93 |
| Dividend Per Share | 0.50 | 0.50 | 1.00 | 1.00 | ||
| Gross Margin | 8.66% | 12.30% | 12.25% | 6.83% | 18.66% | 18.42% |
| Operating Margin | 2.44% | 6.10% | 5.94% | -0.80% | 11.62% | 11.60% |
| Profit Margin | -48.44% | -36.31% | -15.74% | -14.87% | 0.97% | 0.41% |
| Free Cash Flow Margin | -20.14% | 6.41% | -2.77% | 9.55% | 7.51% | 8.34% |
| EBITDA | 66.88M | 97.94M | 117.97M | 73.35M | 240.01M | 250.50M |
| EBITDA Margin | 12.00% | 15.96% | 14.67% | 8.76% | 18.71% | 19.79% |
| D&A For EBITDA | 53.25M | 60.50M | 70.15M | 80.06M | 90.93M | 103.60M |
| EBIT | 13.63M | 37.44M | 47.81M | -6.70M | 149.09M | 146.90M |
| EBIT Margin | 2.44% | 6.10% | 5.94% | -0.80% | 11.62% | 11.60% |
| Effective Tax Rate | 66.96% | 79.20% | ||||
| Advertising Expenses | 4.76M | 4.44M | 4.14M | 2.86M | 1.29M |
Balance sheet
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 26.33M | 25.55M | 51.93M | 44.88M | 70.26M | 71.05M |
| Cash & Short-Term Investments | 26.33M | 25.55M | 51.93M | 44.88M | 70.26M | 71.05M |
| Accounts Receivable | 66.36M | 113.27M | 36.96M | 73.94M | 84.77M | 94.03M |
| Other Receivables | 5.74M | 2.95M | 2.92M | 2.98M | 2.97M | |
| Receivables | 66.36M | 119.01M | 39.91M | 76.85M | 87.75M | 97.00M |
| Inventory | 1.80B | 1.78B | 1.75B | 1.70B | 1.82B | 1.73B |
| Prepaid Expenses | 5.58M | 6.29M | 9.78M | 10.82M | 10.44M | |
| Other Current Assets | 542.78M | 394.04M | 391.54M | 312.27M | 266.10M | 239.57M |
| Total Current Assets | 2.43B | 2.32B | 2.24B | 2.14B | 2.25B | 2.15B |
| Property, Plant & Equipment | 4.06B | 637.29M | 712.40M | 774.21M | 852.23M | 938.85M |
| Long-Term Investments | 49.65M | 44.57M | 47.20M | 55.35M | 44.68M | 37.88M |
| Other Long-Term Assets | 161.60M | 161.60M | 57.43M | 57.43M | 57.43M | |
| Total Assets | 6.54B | 3.16B | 3.17B | 3.03B | 3.21B | 3.19B |
| Accounts Payable | 60.51M | 67.70M | 62.00M | 122.94M | 178.34M | 233.76M |
| Accrued Expenses | 21.21M | 23.08M | 28.41M | 20.41M | 43.82M | 38.40M |
| Short-Term Debt | 1.91B | 2.15B | 1.95B | 1.60B | 1.72B | 1.62B |
| Current Portion of Long-Term Debt | 499.26M | 206.79M | 190.04M | 194.54M | 15.02M | 22.57M |
| Current Income Taxes Payable | 144.98M | 135.64M | 122.84M | 129.78M | 147.81M | 123.12M |
| Other Current Liabilities | 1.41M | 1.41M | 1.64M | 1.99M | 8.20M | 25.99M |
| Total Current Liabilities | 2.64B | 2.58B | 2.36B | 2.07B | 2.12B | 2.06B |
| Long-Term Debt | 292.48M | 15.00M | 16.41M | |||
| Pension & Post-Retirement Benefits | 86.05M | 87.80M | 94.62M | 96.66M | 98.57M | 119.65M |
| Long-Term Deferred Tax Liabilities | 196.22M | 17.53M | 20.66M | 22.88M | 26.27M | 24.93M |
| Total Liabilities | 3.22B | 2.70B | 2.47B | 2.19B | 2.24B | 2.22B |
| Common Stock | 152.40M | 152.40M | 152.40M | 152.40M | 152.40M | 152.40M |
| Additional Paid-In Capital | 425.33M | 425.33M | 425.33M | 425.33M | 425.33M | 425.33M |
| Retained Earnings | -386.28M | -149.10M | 80.94M | 215.20M | 354.90M | 357.64M |
| Comprehensive Income & Other | 3.13B | 31.46M | 33.70M | 43.02M | 33.41M | 27.29M |
| Shareholders' Equity | 3.32B | 460.09M | 692.37M | 835.94M | 966.05M | 962.66M |
| Total Liabilities & Equity | 6.54B | 3.16B | 3.17B | 3.03B | 3.21B | 3.19B |
| Total Debt | 2.71B | 2.37B | 2.14B | 1.80B | 1.74B | 1.66B |
| Net Cash (Debt) | -2.68B | -2.34B | -2.09B | -1.75B | -1.67B | -1.59B |
| Net Cash Per Share | -175.88 | -153.82 | -137.22 | -114.93 | -109.48 | -104.05 |
| Filing Date Shares Outstanding | 15.24M | 15.24M | 15.24M | 15.24M | 15.24M | 15.24M |
| Total Common Shares Outstanding | 15.24M | 15.24M | 15.24M | 15.24M | 15.24M | 15.24M |
| Working Capital | -210.63M | -263.04M | -113.55M | 68.50M | 136.54M | 89.49M |
| Book Value Per Share | 218.11 | 30.19 | 45.43 | 54.85 | 63.39 | 63.17 |
| Tangible Book Value | 3.32B | 460.09M | 692.37M | 835.94M | 966.05M | 962.66M |
| Tangible Book Value Per Share | 218.11 | 30.19 | 45.43 | 54.85 | 63.39 | 63.17 |
| Land | 169.50M | 169.50M | 169.50M | 169.50M | 169.50M | |
| Buildings | 914.42M | 914.42M | 914.42M | 912.47M | 908.34M | |
| Machinery | 892.01M | 909.05M | 948.12M | 948.03M | 948.88M |
Cash flow statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -270.06M | -222.84M | -126.64M | -124.47M | 12.51M | 5.22M |
| Depreciation & Amortization | 60.50M | 60.50M | 70.15M | 80.06M | 90.93M | 103.60M |
| Loss (Gain) From Sale of Assets | -2.93M | -61.66K | -446.02K | |||
| Other Operating Activities | 233.89M | 314.27M | 234.16M | 177.44M | 186.57M | 187.95M |
| Change in Accounts Receivable | -79.10M | -79.10M | 36.95M | 10.90M | 9.25M | 4.86M |
| Change in Inventory | -20.60M | -20.60M | -58.57M | 122.32M | -85.50M | -144.02M |
| Change in Accounts Payable | -11.10M | -11.10M | -48.85M | -139.14M | -85.91M | 29.00M |
| Change in Other Net Operating Assets | -1.79M | -1.79M | -75.78M | -45.13M | -26.91M | -77.46M |
| Operating Cash Flow | -88.27M | 39.33M | 28.48M | 81.98M | 100.86M | 108.71M |
| Capital Expenditures | -24.04M | -50.80M | -2.03M | -4.57M | -3.14M | |
| Sale of Property, Plant & Equipment | 14.61M | 9.58M | 320.00K | 1.06M | ||
| Sale (Purchase) of Real Estate | -104.17M | |||||
| Other Investing Activities | 1.73M | 1.75M | 1.70M | 1.93M | 1.91M | 1.20M |
| Investing Cash Flow | -22.31M | 16.36M | -143.70M | -102.16K | -2.34M | -882.08K |
| Short-Term Debt Issued | 82.02M | |||||
| Long-Term Debt Issued | 226.66M | 346.75M | 57.61M | 58.99M | ||
| Total Debt Issued | 401.55M | 226.66M | 346.75M | 57.61M | 82.02M | 58.99M |
| Net Debt Issued (Repaid) | 401.55M | 226.66M | 346.75M | 57.61M | 82.02M | 58.99M |
| Common Dividends Paid | -8.40K | -7.43M | -7.97M | -21.45M | -33.03M | -18.29M |
| Other Financing Activities | -324.98M | -301.46M | -216.51M | -143.89M | -148.72M | -155.07M |
| Financing Cash Flow | 76.56M | -82.23M | 122.28M | -107.73M | -99.73M | -114.36M |
| Foreign Exchange Rate Adjustments | 145.89K | 145.89K | 469.58K | 412.49K | 280.62K | |
| Net Cash Flow | -33.87M | -26.38M | 7.06M | -25.38M | -797.51K | -6.25M |
| Free Cash Flow | -112.31M | 39.33M | -22.32M | 79.95M | 96.30M | 105.57M |
| Free Cash Flow Margin | -20.14% | 6.41% | -2.77% | 9.55% | 7.51% | 8.34% |
| Free Cash Flow Per Share | -7.37 | 2.58 | -1.47 | 5.25 | 6.32 | 6.93 |
| Levered Free Cash Flow | -347.99M | -192.52M | -243.87M | -29.83M | -58.38M | -51.70M |
| Unlevered Free Cash Flow | -145.42M | -4.66M | -108.41M | 58.88M | 33.26M | 43.92M |
| Cash Interest Paid | 324.98M | 301.46M | 216.51M | 143.89M | 148.72M | 155.07M |
| Cash Income Tax Paid | 15.02M | 11.00M | 20.57M | 30.42M | 27.79M | 24.61M |
| Change in Working Capital | -112.60M | -112.60M | -146.26M | -51.05M | -189.08M | -187.61M |
Ratios
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.09B | 950.98M | 1.37B | 1.80B | 2.31B | 1.66B |
| Enterprise Value | 3.77B | 3.20B | 3.31B | 3.53B | 4.04B | 3.30B |
| Last Close Price | 71.60 | 62.40 | 89.46 | 116.38 | 148.71 | 105.86 |
| PE Ratio | 184.85 | 317.83 | ||||
| PS Ratio | 1.96 | 1.55 | 1.71 | 2.14 | 1.80 | 1.31 |
| PB Ratio | 0.33 | 2.07 | 1.98 | 2.15 | 2.39 | 1.72 |
| P/TBV Ratio | 0.33 | 2.07 | 1.98 | 2.15 | 2.39 | 1.72 |
| P/FCF Ratio | 24.18 | 22.45 | 24.01 | 15.72 | ||
| P/OCF Ratio | 24.18 | 48.21 | 21.90 | 22.92 | 15.27 | |
| EV/Sales Ratio | 6.76 | 5.21 | 4.12 | 4.21 | 3.15 | 2.61 |
| EV/EBITDA Ratio | 56.39 | 32.63 | 28.08 | 48.08 | 16.85 | 13.19 |
| EV/EBIT Ratio | 276.73 | 85.34 | 69.28 | 27.13 | 22.50 | |
| EV/FCF Ratio | 81.24 | 44.11 | 42.00 | 31.30 | ||
| Debt / Equity Ratio | 0.81 | 5.15 | 3.10 | 2.15 | 1.80 | 1.72 |
| Debt / EBITDA Ratio | 40.47 | 24.20 | 18.17 | 24.49 | 7.24 | 6.61 |
| Debt / FCF Ratio | 60.25 | 22.47 | 18.06 | 15.69 | ||
| Net Debt / Equity Ratio | 0.81 | 5.09 | 3.02 | 2.10 | 1.73 | 1.65 |
| Net Debt / EBITDA Ratio | 40.07 | 23.93 | 17.73 | 23.88 | 6.95 | 6.33 |
| Net Debt / FCF Ratio | -23.86 | 59.60 | -93.69 | 21.91 | 17.33 | 15.02 |
| Asset Turnover | 0.12 | 0.19 | 0.26 | 0.27 | 0.40 | 0.41 |
| Inventory Turnover | 0.29 | 0.30 | 0.41 | 0.44 | 0.59 | 0.62 |
| Quick Ratio | 0.04 | 0.06 | 0.04 | 0.06 | 0.07 | 0.08 |
| Current Ratio | 0.92 | 0.90 | 0.95 | 1.03 | 1.06 | 1.04 |
| Return on Equity (ROE) | -14.15% | -38.67% | -16.57% | -13.81% | 1.30% | 0.54% |
| Return on Assets (ROA) | 0.18% | 0.74% | 0.97% | -0.13% | 2.92% | 2.93% |
| Return on Invested Capital (ROIC) | 0.23% | 1.34% | 1.78% | -0.26% | 1.90% | 1.21% |
| Return on Capital Employed (ROCE) | 0.30% | 6.50% | 5.90% | -0.70% | 13.70% | 13.10% |
| Earnings Yield | -24.75% | -23.43% | -9.22% | -6.93% | 0.54% | 0.32% |
| FCF Yield | -10.29% | 4.14% | -1.63% | 4.45% | 4.17% | 6.36% |
| Dividend Yield | 0.56% | 0.42% | 0.66% | 0.92% | ||
| Payout Ratio | 264.10% | 350.23% | ||||
| Total Shareholder Return | 0.01% | 0.56% | 0.42% | 0.66% | 0.92% |