DSE : BSCPLC
Bangladesh Submarine Cables PLC — Financial statements
Communications Services, Not Elsewhere Classified · Bangladesh
Last price 142.5 BDT (At close: Oct 29, 2026) · Market cap 26.65B
Latest research: Bangladesh Submarine Cables valuation report: fair value BDT 41.7–104 (Oct 2026) · Bandwidth volume grows about 18% a year, but private submarine cables could cut prices about 40% by FY29, so EPS falls from BDT 13.6; fair value range BDT 42–104
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Financial statements
Bangladesh Submarine Cables PLC (BSCPLC) reported revenue of 4.79B 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 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 4.75B | 3.93B | 3.96B | 5.13B | 4.39B | 3.45B |
| Other Revenue | 30.39M | 30.39M | 30.39M | 25.37M | 19.89M | |
| Revenue | 4.79B | 3.96B | 3.99B | 5.15B | 4.41B | 3.45B |
| Cost of Revenue | 447.76M | 448.01M | 433.12M | 416.34M | 254.42M | 174.10M |
| Gross Profit | 4.34B | 3.51B | 3.55B | 4.74B | 4.16B | 3.27B |
| Selling, General & Admin | 911.81M | 861.55M | 650.04M | 693.81M | 608.70M | 524.46M |
| Amortization of Goodwill & Intangibles | 5.75M | 5.75M | 5.75M | 5.75M | 1.13M | |
| Operating Expenses | 1.49B | 1.43B | 1.37B | 1.24B | 1.12B | 964.71M |
| Operating Income | 2.84B | 2.09B | 2.19B | 3.50B | 3.04B | 2.31B |
| Interest Expense | -91.16M | -99.02M | -113.15M | -126.11M | -136.51M | -147.74M |
| Interest & Investment Income | 673.54M | 477.30M | 287.36M | 207.43M | 259.42M | 172.19M |
| Currency Exchange Gain (Loss) | 21.44M | 22.59M | 700.30K | -5.84M | 2.01M | 85.27K |
| Other Non Operating Income (Expenses) | 8.28M | 21.20M | 1.75M | 7.61M | 4.64M | 43.70M |
| EBT Excluding Unusual Items | 3.46B | 2.51B | 2.36B | 3.58B | 3.17B | 2.38B |
| Gain (Loss) on Sale of Investments | -975.36K | 176.29K | -3.67M | -640.14K | 1.57M | 21.71M |
| Gain (Loss) on Sale of Assets | 134.88K | 326.16K | 163.34K | |||
| Pretax Income | 3.46B | 2.51B | 2.36B | 3.58B | 3.17B | 2.40B |
| Income Tax Expense | 605.77M | 448.66M | 529.46M | 791.36M | 700.86M | 492.50M |
| Net Income | 2.85B | 2.06B | 1.83B | 2.79B | 2.47B | 1.91B |
| Net Income to Common | 2.85B | 2.06B | 1.83B | 2.79B | 2.47B | 1.91B |
| Shares Outstanding (Basic) | 187.04M | 187.04M | 187.04M | 164.91M | 164.91M | 164.91M |
| Shares Outstanding (Diluted) | 208.99M | 207.34M | 202.94M | 202.94M | 183.71M | 179.77M |
| EPS (Basic) | 15.24 | 11.01 | 9.78 | 16.92 | 15.00 | 11.57 |
| EPS (Diluted) | 13.63 | 9.93 | 9.02 | 13.75 | 13.67 | 10.61 |
| Free Cash Flow | 1.64B | 1.52B | 1.66B | -3.01B | 1.08B | 2.27B |
| Free Cash Flow Per Share | 7.87 | 7.33 | 8.18 | -14.81 | 5.88 | 12.64 |
| Dividend Per Share | 4.00 | 4.00 | 4.00 | 5.10 | 4.60 | 3.70 |
| Gross Margin | 90.64% | 88.69% | 89.13% | 91.92% | 94.24% | 94.95% |
| Operating Margin | 59.45% | 52.66% | 54.85% | 67.88% | 68.94% | 66.98% |
| Profit Margin | 59.56% | 51.99% | 45.91% | 54.13% | 56.04% | 55.31% |
| Free Cash Flow Margin | 34.37% | 38.37% | 41.66% | -58.30% | 24.49% | 65.92% |
| EBITDA | 3.29B | 2.54B | 2.68B | 3.98B | 3.52B | 2.78B |
| EBITDA Margin | 68.85% | 64.02% | 67.29% | 77.30% | 79.66% | 80.52% |
| D&A For EBITDA | 449.79M | 450.07M | 495.68M | 485.33M | 473.33M | 466.97M |
| EBIT | 2.84B | 2.09B | 2.19B | 3.50B | 3.04B | 2.31B |
| EBIT Margin | 59.45% | 52.66% | 54.85% | 67.88% | 68.94% | 66.98% |
| Effective Tax Rate | 17.53% | 17.89% | 22.44% | 22.10% | 22.07% | 20.52% |
| Revenue as Reported | 4.79B | 3.96B | 3.99B | 5.15B | 4.41B | 3.45B |
| Advertising Expenses | 1.25M | 3.08M | 2.71M | 3.50M | 2.71M |
Balance sheet
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 734.30M | 716.17M | 565.20M | 229.96M | 210.80M | 354.64M |
| Short-Term Investments | 6.56B | 5.62B | 3.91B | 2.68B | 4.85B | 3.59B |
| Cash & Short-Term Investments | 7.30B | 6.33B | 4.48B | 2.91B | 5.06B | 3.95B |
| Accounts Receivable | 2.37B | 1.98B | 2.48B | 3.39B | 2.68B | 1.87B |
| Other Receivables | 249.36M | 188.90M | 132.54M | 208.94M | 73.06M | 72.32M |
| Receivables | 2.62B | 2.17B | 2.61B | 3.60B | 2.75B | 1.94B |
| Other Current Assets | 1.30B | 919.35M | 1.08B | 1.18B | 930.57M | 1.19B |
| Total Current Assets | 11.21B | 9.42B | 8.17B | 7.69B | 8.75B | 7.09B |
| Property, Plant & Equipment | 14.60B | 14.34B | 13.76B | 13.03B | 8.03B | 6.82B |
| Other Intangible Assets | 92.86M | 97.47M | 103.62M | 109.48M | 113.87M | |
| Other Long-Term Assets | -1.00 | 1.00 | ||||
| Total Assets | 25.91B | 23.85B | 22.04B | 20.83B | 16.89B | 13.91B |
| Accounts Payable | 219.91M | 219.90M | 383.16M | 297.41M | 204.94M | 81.06M |
| Accrued Expenses | 167.67M | 171.35M | 167.78M | 282.90M | 217.55M | 142.03M |
| Short-Term Debt | 1.00K | 1.00K | 1.00K | 1.00K | 1.00K | 1.00K |
| Current Portion of Long-Term Debt | 250.84M | 243.54M | 229.56M | 319.86M | 301.50M | 192.25M |
| Current Portion of Leases | 8.31M | 2.13M | 12.34M | 11.62M | ||
| Current Income Taxes Payable | 1.34B | 727.30M | 739.88M | 960.27M | 821.81M | 1.04B |
| Current Unearned Revenue | 358.87M | 433.74M | 384.17M | 390.72M | 347.83M | 2.76M |
| Other Current Liabilities | 31.60M | 28.84M | 29.22M | 28.91M | 790.15M | 629.44M |
| Total Current Liabilities | 2.38B | 1.83B | 1.95B | 2.29B | 2.68B | 2.08B |
| Long-Term Debt | 4.25B | 4.22B | 3.79B | 3.35B | 2.48B | 2.19B |
| Long-Term Leases | 49.40M | 2.13M | 14.47M | |||
| Pension & Post-Retirement Benefits | 57.13M | 48.21M | 39.52M | 30.97M | 32.22M | 15.39M |
| Long-Term Deferred Tax Liabilities | 369.17M | 419.07M | 574.55M | 629.16M | 613.11M | 606.11M |
| Other Long-Term Liabilities | 342.59M | 319.73M | 337.49M | 484.41M | 451.26M | 357.07M |
| Total Liabilities | 7.44B | 6.83B | 6.69B | 6.80B | 6.26B | 5.25B |
| Common Stock | 1.87B | 1.87B | 1.65B | 1.65B | 1.65B | 1.65B |
| Additional Paid-In Capital | 2.16B | 2.16B | 723.29M | 723.29M | 723.29M | 723.29M |
| Retained Earnings | 11.90B | 10.45B | 9.13B | 8.13B | 5.31B | 3.59B |
| Comprehensive Income & Other | 2.53B | 2.54B | 3.84B | 3.52B | 2.94B | 2.70B |
| Shareholders' Equity | 18.46B | 17.02B | 15.35B | 14.03B | 10.63B | 8.66B |
| Total Liabilities & Equity | 25.91B | 23.85B | 22.04B | 20.83B | 16.89B | 13.91B |
| Total Debt | 4.56B | 4.47B | 4.04B | 3.70B | 2.78B | 2.38B |
| Net Cash (Debt) | 2.74B | 1.87B | 440.67M | -785.35M | 2.28B | 1.57B |
| Net Cash Per Share | 13.12 | 9.00 | 2.17 | -3.87 | 12.40 | 8.74 |
| Filing Date Shares Outstanding | 187.04M | 187.04M | 164.91M | 164.91M | 164.91M | 164.91M |
| Total Common Shares Outstanding | 187.04M | 187.04M | 164.91M | 164.91M | 164.91M | 164.91M |
| Working Capital | 8.84B | 7.59B | 6.23B | 5.40B | 6.06B | 5.00B |
| Book Value Per Share | 98.71 | 90.99 | 93.06 | 85.05 | 64.45 | 52.49 |
| Tangible Book Value | 18.37B | 16.92B | 15.24B | 13.92B | 10.51B | 8.66B |
| Tangible Book Value Per Share | 98.21 | 90.47 | 92.43 | 84.39 | 63.76 | 52.49 |
| Land | 1.10B | 1.10B | 1.10B | 1.10B | 1.10B | 1.10B |
| Buildings | 445.36M | 445.02M | 445.02M | 429.74M | 429.74M | 429.74M |
| Machinery | 9.32B | 9.32B | 9.32B | 8.87B | 8.82B | 8.73B |
| Construction In Progress | 9.27B | 8.79B | 7.75B | 6.96B | 1.59B | 4.05M |
Cash flow statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.85B | 2.06B | 1.83B | 2.79B | 2.47B | 1.91B |
| Depreciation & Amortization | 475.25M | 473.83M | 519.44M | 505.13M | 473.33M | 466.97M |
| Other Amortization | 397.89K | 397.89K | 397.89K | 340.29K | ||
| Loss (Gain) From Sale of Assets | -134.88K | -326.16K | -163.34K | |||
| Loss (Gain) From Sale of Investments | 975.36K | -176.29K | 3.67M | 640.14K | -1.57M | -16.66M |
| Provision & Write-off of Bad Debts | 105.69M | 91.70M | 196.64M | 40.43M | 34.62M | -26.72M |
| Other Operating Activities | 3.83M | 37.90M | 353.49M | 702.43M | 599.55M | 419.30M |
| Change in Accounts Receivable | -20.63M | 411.22M | 836.47M | -750.22M | -849.09M | 645.32M |
| Change in Accounts Payable | 4.12M | -105.90M | 80.65M | 134.26M | 440.69M | -88.35M |
| Change in Income Taxes | -492.02M | -455.26M | -772.47M | -844.88M | -544.87M | -600.85M |
| Change in Other Net Operating Assets | 5.99M | 58.25M | -140.82M | -157.09M | 137.91M | -367.87M |
| Operating Cash Flow | 2.93B | 2.57B | 2.91B | 2.42B | 2.76B | 2.34B |
| Capital Expenditures | -1.29B | -1.05B | -1.25B | -5.43B | -1.68B | -64.99M |
| Sale of Property, Plant & Equipment | 1.31M | 974.16K | 707.00K | |||
| Sale (Purchase) of Intangibles | -288.00K | -1.70M | -115.00M | |||
| Investment in Securities | -1.68B | -1.70B | -1.23B | 2.17B | -1.25B | -1.24B |
| Other Investing Activities | 602.72M | 406.75M | 245.78M | 219.47M | 241.69M | 166.63M |
| Investing Cash Flow | -2.37B | -2.35B | -2.23B | -3.04B | -2.81B | -1.14B |
| Long-Term Debt Issued | 670.00M | 670.00M | 1.09B | 500.40M | ||
| Long-Term Debt Repaid | -229.56M | -319.86M | -234.02M | -94.70M | -352.02M | |
| Lease Payments | -70.00M | -36.00M | ||||
| Net Debt Issued (Repaid) | 183.01M | 440.44M | 350.14M | 852.48M | 405.70M | -352.02M |
| Issuance of Common Stock | 165.00M | 330.00M | 330.00M | 612.76M | 249.60M | |
| Common Dividends Paid | -748.29M | -748.84M | -840.61M | -759.84M | -613.26M | -356.94M |
| Other Financing Activities | -88.89M | -105.56M | -178.33M | -65.59M | -139.93M | -230.31M |
| Financing Cash Flow | -489.17M | -83.95M | -338.80M | 639.81M | -97.89M | -939.27M |
| Miscellaneous Cash Flow Adjustments | -1.00 | -1.00 | -1.00 | -1.00 | -1.00 | |
| Net Cash Flow | 75.41M | 140.24M | 335.24M | 19.16M | -143.84M | 257.53M |
| Free Cash Flow | 1.64B | 1.52B | 1.66B | -3.01B | 1.08B | 2.27B |
| Free Cash Flow Margin | 34.37% | 38.37% | 41.66% | -58.30% | 24.49% | 65.92% |
| Free Cash Flow Per Share | 7.87 | 7.33 | 8.18 | -14.81 | 5.88 | 12.64 |
| Levered Free Cash Flow | 1.19B | 1.15B | 1.39B | -4.33B | 435.28M | 1.80B |
| Unlevered Free Cash Flow | 1.24B | 1.21B | 1.46B | -4.25B | 520.60M | 1.89B |
| Free Cash Flow After Leases | 1.57B | 1.52B | 1.66B | -3.04B | 1.08B | 2.27B |
| Cash Interest Paid | 88.59M | 102.57M | 178.33M | 65.59M | 230.31M | |
| Cash Income Tax Paid | 492.02M | 455.26M | 772.47M | 844.88M | 544.87M | 600.85M |
| Change in Working Capital | -502.54M | -91.68M | 3.84M | -1.62B | -815.35M | -411.75M |
Ratios
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 26.65B | 23.34B | 20.37B | 36.10B | 36.13B | 28.35B |
| Enterprise Value | 23.91B | 22.06B | 19.86B | 35.99B | 33.07B | 27.67B |
| Last Close Price | 142.50 | 121.02 | 115.88 | 200.61 | 196.57 | 151.28 |
| PE Ratio | 10.45 | 11.33 | 11.13 | 12.94 | 14.60 | 14.86 |
| Forward PE | 10.30 | 9.80 | 9.95 | 12.54 | ||
| PS Ratio | 5.57 | 5.89 | 5.11 | 7.00 | 8.18 | 8.22 |
| PB Ratio | 1.44 | 1.37 | 1.33 | 2.57 | 3.40 | 3.27 |
| P/TBV Ratio | 1.45 | 1.38 | 1.34 | 2.59 | 3.44 | 3.27 |
| P/FCF Ratio | 16.21 | 15.36 | 12.27 | 33.42 | 12.47 | |
| P/OCF Ratio | 9.09 | 9.08 | 7.00 | 14.91 | 13.07 | 12.12 |
| EV/Sales Ratio | 5.00 | 5.57 | 4.98 | 6.98 | 7.49 | 8.03 |
| EV/EBITDA Ratio | 7.20 | 8.70 | 7.40 | 9.03 | 9.40 | 9.97 |
| EV/EBIT Ratio | 8.41 | 10.58 | 9.08 | 10.29 | 10.87 | 11.98 |
| EV/FCF Ratio | 14.54 | 14.52 | 11.96 | 30.59 | 12.17 | |
| Debt / Equity Ratio | 0.25 | 0.26 | 0.26 | 0.26 | 0.26 | 0.28 |
| Debt / EBITDA Ratio | 1.37 | 1.74 | 1.49 | 0.92 | 0.79 | 0.86 |
| Debt / FCF Ratio | 2.77 | 2.94 | 2.43 | 2.58 | 1.05 | |
| Net Debt / Equity Ratio | -0.15 | -0.11 | -0.03 | 0.06 | -0.21 | -0.18 |
| Net Debt / EBITDA Ratio | -0.83 | -0.74 | -0.16 | 0.20 | -0.65 | -0.57 |
| Net Debt / FCF Ratio | -1.67 | -1.23 | -0.27 | -0.26 | -2.11 | -0.69 |
| Asset Turnover | 0.20 | 0.17 | 0.19 | 0.27 | 0.29 | 0.26 |
| Quick Ratio | 4.17 | 4.65 | 3.64 | 2.84 | 2.91 | 2.83 |
| Current Ratio | 4.72 | 5.16 | 4.20 | 3.35 | 3.26 | 3.40 |
| Return on Equity (ROE) | 16.46% | 12.73% | 12.46% | 22.64% | 25.66% | 23.86% |
| Return on Assets (ROA) | 7.32% | 5.68% | 6.38% | 11.60% | 12.35% | 10.79% |
| Return on Invested Capital (ROIC) | 15.07% | 11.40% | 11.41% | 23.54% | 30.73% | 24.97% |
| Return on Capital Employed (ROCE) | 12.10% | 9.50% | 10.90% | 18.90% | 21.40% | 19.50% |
| Earnings Yield | 9.57% | 8.82% | 8.98% | 7.73% | 6.85% | 6.73% |
| FCF Yield | 6.17% | 6.51% | 8.15% | -8.33% | 2.99% | 8.02% |
| Dividend Yield | 2.81% | 3.21% | 3.24% | 2.33% | 2.10% | 2.15% |
| Payout Ratio | 26.26% | 36.36% | 45.94% | 27.23% | 24.79% | 18.71% |
| Buyback Yield / Dilution | -2.15% | -2.17% | -13.42% | -10.46% | -2.19% | -9.02% |
| Total Shareholder Return | 0.66% | 1.04% | -10.18% | -8.13% | -0.09% | -6.87% |