DSE : BDTHAI
Bangladesh Thai Aluminium Limited — Financial statements
Primary Smelting And Refining Of Nonferrous Metals · Bangladesh
Last price 11.1 BDT (At close: Oct 29, 2026) · Market cap 1.42B
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Financial statements
Bangladesh Thai Aluminium Limited (BDTHAI) reported revenue of 63.58M 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 | 63.58M | 180.72M | 602.82M | 934.89M | 1.17B | 1.20B |
| Cost of Revenue | 158.02M | 200.01M | 451.02M | 758.01M | 907.06M | 737.73M |
| Gross Profit | -94.45M | -19.30M | 151.81M | 176.88M | 259.97M | 465.88M |
| Selling, General & Admin | 44.02M | 43.84M | 89.47M | 113.65M | 125.70M | 125.95M |
| Operating Expenses | 44.02M | 43.84M | 89.47M | 113.65M | 125.70M | 125.95M |
| Operating Income | -138.46M | -63.14M | 62.34M | 63.24M | 134.27M | 339.93M |
| Interest Expense | -212.90M | -193.13M | -167.18M | -122.77M | -132.12M | -134.63M |
| Other Non Operating Income (Expenses) | 3.01M | 2.95M | 1.65M | 1.22M | 2.15M | 5.96M |
| Pretax Income | -348.35M | -253.31M | -103.20M | -58.31M | 4.29M | 211.27M |
| Income Tax Expense | 10.28M | 3.83M | 4.89M | 8.30M | 1.88M | 50.93M |
| Net Income | -358.63M | -257.15M | -108.09M | -66.61M | 2.41M | 160.34M |
| Net Income to Common | -358.63M | -257.15M | -108.09M | -66.61M | 2.41M | 160.34M |
| Shares Outstanding (Basic) | 127.78M | 127.78M | 127.78M | 127.78M | 127.78M | 127.78M |
| Shares Outstanding (Diluted) | 127.78M | 127.78M | 127.78M | 127.78M | 127.78M | 127.78M |
| EPS (Basic) | -2.81 | -2.01 | -0.85 | -0.52 | 0.02 | 1.25 |
| EPS (Diluted) | -2.81 | -2.01 | -0.85 | -0.52 | 0.02 | 1.25 |
| Free Cash Flow | -214.18M | -188.12M | -148.01M | 48.71M | -31.21M | -56.50M |
| Free Cash Flow Per Share | -1.68 | -1.47 | -1.16 | 0.38 | -0.24 | -0.44 |
| Dividend Per Share | 0.03 | 0.20 | ||||
| Gross Margin | -148.56% | -10.68% | 25.18% | 18.92% | 22.28% | 38.71% |
| Operating Margin | -217.79% | -34.94% | 10.34% | 6.76% | 11.51% | 28.24% |
| Profit Margin | -564.10% | -142.29% | -17.93% | -7.12% | 0.21% | 13.32% |
| Free Cash Flow Margin | -336.89% | -104.09% | -24.55% | 5.21% | -2.67% | -4.70% |
| EBITDA | -31.98M | 19.69M | 135.43M | 141.25M | 214.56M | 420.67M |
| EBITDA Margin | -50.30% | 10.89% | 22.47% | 15.11% | 18.39% | 34.95% |
| D&A For EBITDA | 106.48M | 82.82M | 73.09M | 78.01M | 80.29M | 80.74M |
| EBIT | -138.46M | -63.14M | 62.34M | 63.24M | 134.27M | 339.93M |
| EBIT Margin | -217.79% | -34.94% | 10.34% | 6.76% | 11.51% | 28.24% |
| Effective Tax Rate | 43.88% | 24.10% | ||||
| Advertising Expenses | 1.03M | 2.95M | 3.96M | 5.09M | 5.64M |
Balance sheet
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.39M | 5.42M | 3.40M | 28.54M | 43.95M | 33.61M |
| Short-Term Investments | 1.55M | 962.44K | 1.22M | 1.55M | 1.55M | 1.32M |
| Cash & Short-Term Investments | 4.94M | 6.38M | 4.61M | 30.10M | 45.50M | 34.93M |
| Other Receivables | 959.92M | 978.70M | 975.72M | 1.00B | 1.09B | 1.13B |
| Receivables | 959.92M | 2.02B | 975.72M | 1.00B | 1.09B | 1.13B |
| Inventory | 1.21B | 1.22B | 1.21B | 1.13B | 1.06B | 1.03B |
| Other Current Assets | 1.01B | 1.06B | 1.02B | 1.06B | 1.02B | |
| Total Current Assets | 3.18B | 3.25B | 3.25B | 3.18B | 3.25B | 3.22B |
| Property, Plant & Equipment | 3.01B | 3.06B | 3.11B | 2.74B | 2.79B | 2.78B |
| Long-Term Investments | 49.32M | 49.32M | 49.32M | 49.32M | 49.32M | 49.32M |
| Total Assets | 6.24B | 6.36B | 6.41B | 5.97B | 6.10B | 6.05B |
| Accounts Payable | 1.29M | 1.65M | 1.29M | 1.09M | ||
| Accrued Expenses | 30.71M | 29.38M | 30.97M | 30.63M | 32.11M | 39.94M |
| Short-Term Debt | 1.10B | 988.40M | 875.95M | 830.40M | 906.06M | 1.02B |
| Current Portion of Long-Term Debt | 112.40M | 112.40M | 112.40M | 112.40M | 112.40M | 112.40M |
| Current Income Taxes Payable | 270.72M | 270.32M | 268.48M | 264.85M | 259.24M | 252.22M |
| Other Current Liabilities | 26.32M | 26.41M | 29.56M | 30.15M | 34.58M | 77.17M |
| Total Current Liabilities | 1.54B | 1.43B | 1.32B | 1.27B | 1.34B | 1.50B |
| Long-Term Debt | 936.10M | 868.40M | 787.72M | 709.90M | 694.82M | 510.74M |
| Long-Term Deferred Tax Liabilities | 405.41M | 404.34M | 402.34M | 435.71M | 436.08M | 444.55M |
| Other Long-Term Liabilities | -2.00 | |||||
| Total Liabilities | 2.88B | 2.70B | 2.51B | 2.42B | 2.48B | 2.46B |
| Common Stock | 1.28B | 1.28B | 1.28B | 1.28B | 1.28B | 1.28B |
| Additional Paid-In Capital | 555.15M | 555.15M | 555.15M | 555.15M | 555.15M | 555.15M |
| Retained Earnings | -134.58M | 138.98M | 370.34M | 466.34M | 519.39M | 523.59M |
| Comprehensive Income & Other | 1.66B | 1.68B | 1.70B | 1.26B | 1.27B | 1.24B |
| Shareholders' Equity | 3.36B | 3.65B | 3.90B | 3.56B | 3.62B | 3.59B |
| Total Liabilities & Equity | 6.24B | 6.36B | 6.41B | 5.97B | 6.10B | 6.05B |
| Total Debt | 2.15B | 1.97B | 1.78B | 1.65B | 1.71B | 1.64B |
| Net Cash (Debt) | -2.14B | -1.96B | -1.77B | -1.62B | -1.67B | -1.61B |
| Net Cash Per Share | -16.75 | -15.36 | -13.86 | -12.70 | -13.05 | -12.58 |
| Filing Date Shares Outstanding | 127.78M | 127.78M | 127.78M | 127.78M | 127.78M | 127.78M |
| Total Common Shares Outstanding | 127.78M | 127.78M | 127.78M | 127.78M | 127.78M | 127.78M |
| Working Capital | 1.65B | 1.82B | 1.93B | 1.91B | 1.91B | 1.72B |
| Book Value Per Share | 26.31 | 28.60 | 30.56 | 27.84 | 28.33 | 28.11 |
| Tangible Book Value | 3.36B | 3.65B | 3.90B | 3.56B | 3.62B | 3.59B |
| Tangible Book Value Per Share | 26.31 | 28.60 | 30.56 | 27.84 | 28.33 | 28.11 |
| Land | 2.19B | 2.19B | 1.91B | 1.91B | 1.91B | |
| Buildings | 404.98M | 393.68M | 388.80M | 383.35M | 376.08M | |
| Machinery | 1.64B | 1.63B | 1.46B | 1.44B | 1.35B |
Cash flow statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -359.04M | -257.15M | -108.09M | -66.61M | 2.41M | 160.34M |
| Depreciation & Amortization | 106.48M | 82.82M | 73.09M | 78.01M | 80.29M | 80.74M |
| Other Operating Activities | 2.68M | -1.00 | -16.97M | -258.55M | ||
| Change in Accounts Receivable | 22.43M | -2.98M | 25.76M | 83.59M | ||
| Change in Inventory | -32.37M | -13.94M | -81.25M | -64.90M | ||
| Change in Accounts Payable | 2.21M | 7.19K | -356.36K | 200.57K | ||
| Change in Other Net Operating Assets | 60.23M | 20.32M | -32.47M | 42.13M | ||
| Operating Cash Flow | -195.37M | -168.93M | -122.05M | 75.10M | 65.72M | -17.47M |
| Capital Expenditures | -18.81M | -19.19M | -25.95M | -26.39M | -96.93M | -39.03M |
| Investment in Securities | 845.77K | 255.49K | ||||
| Investing Cash Flow | -17.96M | -18.93M | -25.95M | -26.39M | -96.93M | -39.03M |
| Short-Term Debt Issued | 112.45M | 45.54M | ||||
| Long-Term Debt Issued | 80.68M | 77.82M | 15.08M | 184.08M | 148.04M | |
| Total Debt Issued | 214.24M | 193.13M | 123.36M | 15.08M | 184.08M | 148.04M |
| Short-Term Debt Repaid | -75.66M | -113.46M | -72.40M | |||
| Total Debt Repaid | -75.66M | -113.46M | -72.40M | |||
| Net Debt Issued (Repaid) | 214.24M | 193.13M | 123.36M | -60.58M | 70.62M | 75.65M |
| Common Dividends Paid | -500.35K | -3.24M | -500.00K | -3.54M | -29.07M | -25.81M |
| Financing Cash Flow | 213.74M | 189.88M | 122.86M | -64.12M | 41.55M | 49.84M |
| Miscellaneous Cash Flow Adjustments | 2.00 | 2.00 | ||||
| Net Cash Flow | 405.67K | 2.02M | -25.15M | -15.41M | 10.34M | -6.66M |
| Free Cash Flow | -214.18M | -188.12M | -148.01M | 48.71M | -31.21M | -56.50M |
| Free Cash Flow Margin | -336.89% | -104.09% | -24.55% | 5.21% | -2.67% | -4.70% |
| Free Cash Flow Per Share | -1.68 | -1.47 | -1.16 | 0.38 | -0.24 | -0.44 |
| Levered Free Cash Flow | -62.80M | -96.37M | -107.21M | 71.89M | -78.92M | -70.44M |
| Unlevered Free Cash Flow | 70.27M | 24.33M | -2.72M | 148.62M | 3.66M | 13.70M |
| Cash Interest Paid | 193.13M | 193.13M | 167.18M | 122.77M | 132.12M | 134.63M |
| Cash Income Tax Paid | 620.38K | 610.56K | 20.92M | 28.25M | 32.04M | 32.53M |
| Change in Working Capital | 54.50M | 5.40M | -87.06M | 63.70M |
Ratios
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.42B | 1.70B | 2.31B | 1.90B | 2.30B | 3.16B |
| Enterprise Value | 3.56B | 3.63B | 4.03B | 3.56B | 4.05B | 4.73B |
| Last Close Price | 11.10 | 13.30 | 18.06 | 14.87 | 17.96 | 24.39 |
| PE Ratio | 956.08 | 19.68 | ||||
| PS Ratio | 22.31 | 9.40 | 3.84 | 2.04 | 1.97 | 2.62 |
| PB Ratio | 0.42 | 0.47 | 0.59 | 0.54 | 0.64 | 0.88 |
| P/TBV Ratio | 0.42 | 0.47 | 0.59 | 0.54 | 0.64 | 0.88 |
| P/FCF Ratio | 39.09 | |||||
| P/OCF Ratio | 25.35 | 34.99 | ||||
| EV/Sales Ratio | 55.98 | 20.07 | 6.69 | 3.81 | 3.47 | 3.93 |
| EV/EBITDA Ratio | 184.22 | 29.76 | 25.23 | 18.87 | 11.24 | |
| EV/EBIT Ratio | 64.66 | 56.36 | 30.15 | 13.91 | ||
| EV/FCF Ratio | 73.16 | |||||
| Debt / Equity Ratio | 0.64 | 0.54 | 0.46 | 0.47 | 0.47 | 0.46 |
| Debt / EBITDA Ratio | 100.03 | 13.11 | 11.70 | 7.99 | 3.90 | |
| Debt / FCF Ratio | 33.93 | |||||
| Net Debt / Equity Ratio | 0.64 | 0.54 | 0.45 | 0.46 | 0.46 | 0.45 |
| Net Debt / EBITDA Ratio | -66.94 | 99.70 | 13.08 | 11.49 | 7.77 | 3.82 |
| Net Debt / FCF Ratio | -9.99 | -10.43 | -11.97 | 33.31 | -53.44 | -28.45 |
| Asset Turnover | 0.01 | 0.03 | 0.10 | 0.15 | 0.19 | 0.20 |
| Inventory Turnover | 0.13 | 0.16 | 0.39 | 0.69 | 0.86 | 0.73 |
| Quick Ratio | 0.63 | 0.69 | 0.74 | 0.81 | 0.84 | 0.78 |
| Current Ratio | 2.07 | 2.27 | 2.46 | 2.51 | 2.42 | 2.15 |
| Return on Equity (ROE) | -10.32% | -6.80% | -2.90% | -1.86% | 0.07% | 4.57% |
| Return on Assets (ROA) | -1.38% | -0.62% | 0.63% | 0.66% | 1.38% | 3.57% |
| Return on Invested Capital (ROIC) | -2.51% | -1.12% | 1.15% | 1.21% | 1.44% | 5.08% |
| Return on Capital Employed (ROCE) | -2.90% | -1.30% | 1.20% | 1.30% | 2.80% | 7.50% |
| Earnings Yield | -25.29% | -15.13% | -4.67% | -3.50% | 0.10% | 5.08% |
| FCF Yield | -15.10% | -11.07% | -6.40% | 2.56% | -1.36% | -1.79% |
| Dividend Yield | 0.14% | 0.81% | ||||
| Payout Ratio | 1,208.58% | 16.10% | ||||
| Total Shareholder Return | 0.14% | 0.81% |