DSE : DHAKAINS
Dhaka Insurance Limited — Financial statements
Insurance Carriers · Bangladesh
Last price 41.2 BDT (At close: Oct 28, 2026) · Market cap 1.65B
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Financial statements
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 212.61M | 205.92M | 310.08M | 322.50M | 256.20M | |
| Total Interest & Dividend Income | 85.25M | 66.02M | 49.73M | 63.56M | 71.74M | |
| Gain (Loss) on Sale of Investments | 7.30M | 199.41K | 858.37K | 727.92K | 23.52M | |
| Other Revenue | 39.53M | 39.56M | 45.61M | 47.35M | 46.52M | |
| Total Revenue | 344.69M | 311.71M | 406.27M | 434.14M | 397.98M | |
| Policy Benefits | 112.89M | 93.08M | 144.98M | 144.45M | 126.50M | |
| Policy Acquisition & Underwriting Costs | 42.76M | 43.04M | 64.74M | 68.07M | 33.61M | |
| Depreciation & Amortization | 16.28M | 18.43M | 18.89M | 18.80M | 17.57M | |
| Selling, General & Administrative | 127.62M | 139.75M | 141.68M | 130.65M | 110.66M | |
| Other Operating Expenses | 5.70M | 875.00 | ||||
| Total Operating Expenses | 305.24M | 294.31M | 370.30M | 361.96M | 288.34M | |
| Operating Income | 39.44M | 17.40M | 35.97M | 72.18M | 109.64M | |
| Interest Expense | -456.97K | -560.03K | -604.00K | -495.46K | -365.28K | |
| Other Non Operating Income (Expenses) | -5.00M | |||||
| EBT Excluding Unusual Items | 38.99M | 16.84M | 35.37M | 71.69M | 104.28M | |
| Gain (Loss) on Sale of Assets | 742.66K | 356.20K | 8.73K | 2.11M | ||
| Other Unusual Items | -15.36M | |||||
| Pretax Income | 24.37M | 16.84M | 35.72M | 71.69M | 106.39M | |
| Income Tax Expense | 38.00M | 44.45M | 51.07M | 53.97M | 62.10M | |
| Net Income | -13.63M | -27.60M | -15.35M | 17.73M | 44.28M | |
| Net Income to Common | -13.63M | -27.60M | -15.35M | 17.73M | 44.28M | |
| Shares Outstanding (Basic) | 35.20M | 40.12M | 40.12M | 40.42M | 40.12M | 40.12M |
| Shares Outstanding (Diluted) | 35.20M | 40.12M | 40.12M | 40.42M | 40.12M | 40.12M |
| EPS (Basic) | -0.34 | -0.69 | -0.38 | 0.44 | 1.10 | |
| EPS (Diluted) | -0.34 | -0.69 | -0.38 | 0.44 | 1.10 | |
| Free Cash Flow | -13.83M | 33.58M | 6.49M | 54.96M | 53.17M | |
| Free Cash Flow Per Share | -0.34 | 0.84 | 0.16 | 1.37 | 1.32 | |
| Dividend Per Share | 1.00 | 1.00 | 1.70 | 2.00 | 2.50 | |
| Operating Margin | 11.44% | 5.58% | 8.85% | 16.63% | 27.55% | |
| Profit Margin | -3.96% | -8.86% | -3.78% | 4.08% | 11.13% | |
| Free Cash Flow Margin | -4.01% | 10.77% | 1.60% | 12.66% | 13.36% | |
| EBITDA | 51.33M | 30.37M | 50.26M | 87.58M | 124.65M | |
| EBITDA Margin | 14.89% | 9.74% | 12.37% | 20.17% | 31.32% | |
| D&A For EBITDA | 11.89M | 12.97M | 14.29M | 15.40M | 15.01M | |
| EBIT | 39.44M | 17.40M | 35.97M | 72.18M | 109.64M | |
| EBIT Margin | 11.44% | 5.58% | 8.85% | 16.63% | 27.55% | |
| Effective Tax Rate | 155.96% | 263.90% | 142.96% | 75.27% | 58.38% |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 396.51M | 196.47M | 122.43M | 105.20M | 105.20M | |
| Investments in Equity & Preferred Securities | 226.04M | 238.69M | 225.63M | 105.98M | 110.59M | |
| Other Investments | 810.05M | 145.82M | 360.32M | 426.60M | 590.80M | 590.20M |
| Total Investments | 810.05M | 768.37M | 795.47M | 774.66M | 801.98M | 806.00M |
| Cash & Equivalents | 177.67M | 132.96M | 81.71M | 57.79M | 55.43M | 51.76M |
| Reinsurance Recoverable | 6.69M | 7.02M | 7.02M | 7.01M | 7.02M | |
| Other Receivables | 17.60M | 16.03M | 10.11M | 12.24M | 7.80M | 4.70M |
| Property, Plant & Equipment | 1.01B | 1.02B | 1.03B | 1.04B | 1.06B | 1.06B |
| Other Current Assets | 761.16M | 743.42M | 687.71M | 627.91M | 592.99M | 608.82M |
| Other Long-Term Assets | 25.39M | 25.49M | 25.65M | 25.44M | 25.57M | |
| Total Assets | 2.78B | 2.71B | 2.64B | 2.55B | 2.55B | 2.56B |
| Accrued Expenses | 3.88M | 1.74M | 1.07M | 2.93M | 3.99M | |
| Insurance & Annuity Liabilities | 72.12M | 85.33M | 82.67M | 124.46M | 129.28M | 102.69M |
| Unpaid Claims | 95.62M | 74.71M | 62.13M | 55.79M | 55.04M | 84.62M |
| Unearned Premiums | 46.94M | 45.59M | 78.07M | 24.00M | 101.96M | 171.03M |
| Reinsurance Payable | 84.22M | 95.91M | 118.00M | 126.16M | 130.86M | |
| Current Income Taxes Payable | 819.71M | 783.18M | 740.41M | 691.20M | 639.74M | |
| Long-Term Leases | 3.30M | 4.96M | 5.19M | 6.26M | 7.43M | 3.55M |
| Long-Term Deferred Tax Liabilities | 54.21M | 52.75M | 51.07M | 32.14M | 29.63M | |
| Other Current Liabilities | 1.04B | 10.78M | 12.75M | 9.22M | 9.80M | 11.06M |
| Other Long-Term Liabilities | 44.07M | 16.15M | 14.64M | 15.05M | 18.72M | |
| Total Liabilities | 1.26B | 1.24B | 1.20B | 1.16B | 1.18B | 1.21B |
| Common Stock | 401.25M | 401.25M | 401.25M | 401.25M | 401.25M | 401.25M |
| Additional Paid-In Capital | 18.00M | 18.00M | 18.00M | 18.00M | 18.00M | 18.00M |
| Retained Earnings | 228.03M | 601.57M | 559.69M | 516.87M | 493.06M | 484.37M |
| Comprehensive Income & Other | 872.12M | 451.68M | 451.68M | 451.68M | 451.68M | 451.68M |
| Shareholders' Equity | 1.52B | 1.47B | 1.43B | 1.39B | 1.36B | 1.36B |
| Total Liabilities & Equity | 2.78B | 2.71B | 2.64B | 2.55B | 2.55B | 2.56B |
| Filing Date Shares Outstanding | 35.20M | 40.12M | 40.12M | 40.12M | 40.12M | 40.12M |
| Total Common Shares Outstanding | 35.20M | 40.12M | 40.12M | 40.12M | 40.12M | 40.12M |
| Total Debt | 3.30M | 4.96M | 5.19M | 6.26M | 7.43M | 3.55M |
| Net Cash (Debt) | 174.37M | 128.00M | 76.52M | 51.53M | 48.00M | 48.21M |
| Net Cash Per Share | 4.95 | 3.19 | 1.91 | 1.27 | 1.20 | 1.20 |
| Book Value Per Share | 43.16 | 36.70 | 35.65 | 34.59 | 33.99 | 33.78 |
| Tangible Book Value | 1.52B | 1.47B | 1.43B | 1.39B | 1.36B | 1.36B |
| Tangible Book Value Per Share | 43.16 | 36.70 | 35.65 | 34.59 | 33.99 | 33.78 |
| Land | 745.34M | 745.34M | 745.34M | 745.34M | 745.34M | |
| Buildings | 224.44M | 224.44M | 224.44M | 224.44M | 224.44M | |
| Machinery | 118.13M | 119.40M | 119.08M | 119.52M | 110.83M |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -13.63M | -27.60M | -15.35M | 17.73M | 44.28M | |
| Depreciation & Amortization | 16.28M | 18.43M | 18.89M | 18.80M | 17.57M | |
| Change in Accounts Receivable | -32.48M | 54.07M | -77.96M | -69.07M | -25.08M | |
| Change in Insurance Reserves / Liabilities | 12.58M | 6.33M | 757.00K | -29.58M | -725.78K | |
| Change in Other Net Operating Assets | -2.10M | -68.56M | 3.85M | 81.93M | 2.98M | |
| Other Operating Activities | 7.70M | 51.23M | 76.96M | 44.79M | 21.82M | |
| Operating Cash Flow | -11.65M | 33.90M | 7.15M | 64.60M | 60.84M | |
| Capital Expenditures | -2.18M | -320.14K | -664.36K | -9.63M | -7.67M | |
| Sale of Property, Plant & Equipment | 754.51K | 461.00K | 43.00K | 2.24M | ||
| Investment in Securities | 29.46M | -6.73M | 34.83M | -6.61M | -50.76M | |
| Other Investing Activities | 81.85M | 68.44M | 45.83M | 60.47M | 72.56M | |
| Investing Cash Flow | 109.90M | 61.38M | 80.46M | 44.27M | 16.36M | |
| Total Debt Repaid | -4.17M | -6.61M | -5.33M | -3.97M | -2.66M | |
| Lease Payments | -4.17M | -6.61M | -5.33M | -3.97M | -2.66M | |
| Net Debt Issued (Repaid) | -4.17M | -6.61M | -5.33M | -3.97M | -2.66M | |
| Common Dividends Paid | -42.83M | -64.76M | -79.92M | -101.23M | -79.50M | |
| Financing Cash Flow | -47.00M | -71.36M | -85.26M | -105.20M | -82.16M | |
| Net Cash Flow | 51.25M | 23.92M | 2.36M | 3.67M | -4.96M | |
| Free Cash Flow | -13.83M | 33.58M | 6.49M | 54.96M | 53.17M | |
| Free Cash Flow Margin | -4.01% | 10.77% | 1.60% | 12.66% | 13.36% | |
| Free Cash Flow Per Share | -0.34 | 0.84 | 0.16 | 1.37 | 1.32 | |
| Levered Free Cash Flow | -17.73M | 56.24M | -37.64M | 12.51M | 27.86M | |
| Unlevered Free Cash Flow | -17.44M | 56.59M | -37.26M | 12.82M | 28.08M | |
| Free Cash Flow After Leases | -18.00M | 26.97M | 1.15M | 50.99M | 50.51M | |
| Cash Income Tax Paid | 41.15M | 52.01M | 53.05M | 48.07M | 45.19M | |
| Change in Working Capital | -22.00M | -8.16M | -73.35M | -16.71M | -22.83M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.65B | 1.44B | 1.56B | 2.07B | 1.92B | 3.00B |
| Enterprise Value | 1.47B | 1.31B | 1.48B | 1.98B | 1.26B | 2.39B |
| PE Ratio | 108.42 | 67.69 | ||||
| PS Ratio | 4.17 | 5.02 | 5.11 | 4.43 | 7.53 | |
| PB Ratio | 1.09 | 0.98 | 1.09 | 1.50 | 1.41 | 2.21 |
| P/FCF Ratio | 88.29 | 46.60 | 319.75 | 34.97 | 56.38 | |
| P/OCF Ratio | 78.92 | 46.16 | 290.05 | 29.75 | 49.27 | |
| EV/Sales Ratio | 3.80 | 4.76 | 4.88 | 2.90 | 6.00 | |
| EV/EBITDA Ratio | 25.54 | 48.84 | 39.46 | 14.38 | 19.17 | |
| EV/EBIT Ratio | 33.24 | 85.25 | 55.13 | 17.44 | 21.79 | |
| EV/FCF Ratio | 78.96 | 44.18 | 305.66 | 22.91 | 44.94 | |
| Debt / Equity Ratio | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 |
| Debt / EBITDA Ratio | 0.09 | 0.14 | 0.11 | 0.08 | 0.03 | |
| Debt / FCF Ratio | 0.15 | 0.96 | 0.14 | 0.07 | ||
| Net Debt / Equity Ratio | -0.12 | -0.09 | -0.05 | -0.04 | -0.04 | -0.04 |
| Net Debt / EBITDA Ratio | -2.49 | -2.52 | -1.02 | -0.55 | -0.39 | |
| Net Debt / FCF Ratio | 9.26 | -2.28 | -7.94 | -0.87 | -0.91 | |
| Quick Ratio | 0.32 | 0.13 | 0.08 | 0.06 | 0.06 | 0.05 |
| Current Ratio | 0.96 | 0.86 | 0.76 | 0.74 | 0.67 | 0.65 |
| Asset Turnover | 0.13 | 0.12 | 0.16 | 0.17 | 0.16 | |
| Return on Equity (ROE) | -0.94% | -1.96% | -1.11% | 1.30% | 3.38% | |
| Return on Assets (ROA) | 0.92% | 0.42% | 0.88% | 1.77% | 2.75% | |
| Return on Invested Capital (ROIC) | -1.52% | -2.02% | -1.12% | 1.31% | 3.47% | |
| Earnings Yield | -0.95% | -1.76% | -0.74% | 0.92% | 1.48% | |
| FCF Yield | 1.13% | -0.96% | 2.15% | 0.31% | 2.86% | 1.77% |
| Dividend Yield | 2.43% | 2.79% | 2.56% | 3.29% | 4.17% | 3.35% |
| Payout Ratio | 571.05% | 179.53% | ||||
| Buyback Yield / Dilution | 12.52% | 0.74% | -0.75% | |||
| Total Shareholder Return | 14.95% | 2.79% | 3.31% | 2.54% | 4.17% | 3.35% |