DSE : DSHGARME
Desh Garments Limited — Financial statements
Apparel and Other Finished Products Made From Fabrics and Similar Materials · Bangladesh
Last price 123.9 BDT (At close: Oct 29, 2026) · Market cap 1.03B
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Financial statements
Desh Garments Limited (DSHGARME) reported revenue of 794.85M 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 | 794.85M | 875.14M | 589.72M | 492.51M | 450.21M | 186.14M |
| Cost of Revenue | 720.18M | 794.31M | 532.69M | 449.30M | 403.57M | 154.90M |
| Gross Profit | 74.68M | 80.83M | 57.03M | 43.21M | 46.64M | 31.24M |
| Selling, General & Admin | 26.65M | 26.37M | 19.95M | 19.99M | 18.05M | 17.73M |
| Other Operating Expenses | 248.90K | 248.90K | 266.94K | 256.56K | 144.15K | 350.84K |
| Operating Expenses | 28.55M | 28.27M | 22.20M | 21.09M | 18.58M | 18.44M |
| Operating Income | 46.13M | 52.56M | 34.83M | 22.12M | 28.06M | 12.80M |
| Interest Expense | -34.79M | -35.60M | -23.04M | -14.19M | -22.17M | -9.45M |
| Interest & Investment Income | 1.14M | 1.14M | 1.14M | 1.43M | 1.43M | 856.77K |
| Currency Exchange Gain (Loss) | 1.71M | 1.71M | 427.85K | 521.90K | -253.19K | 1.65M |
| Other Non Operating Income (Expenses) | -356.85K | -4.88M | -2.88M | -1.09M | -3.79M | -1.74M |
| EBT Excluding Unusual Items | 13.83M | 14.93M | 10.48M | 8.79M | 3.27M | 4.11M |
| Gain (Loss) on Sale of Investments | 414.65K | |||||
| Pretax Income | 13.83M | 14.93M | 10.90M | 8.79M | 3.27M | 4.11M |
| Income Tax Expense | 9.50M | 8.91M | 6.03M | 5.66M | 2.93M | 1.11M |
| Net Income | 4.34M | 6.02M | 4.87M | 3.13M | 345.00K | 3.00M |
| Net Income to Common | 4.34M | 6.02M | 4.87M | 3.13M | 345.00K | 3.00M |
| Shares Outstanding (Basic) | 8.27M | 8.29M | 8.29M | 8.29M | 8.29M | 8.29M |
| Shares Outstanding (Diluted) | 8.27M | 8.29M | 8.29M | 8.29M | 8.29M | 8.29M |
| EPS (Basic) | 0.52 | 0.73 | 0.59 | 0.38 | 0.04 | 0.36 |
| EPS (Diluted) | 0.52 | 0.73 | 0.59 | 0.38 | 0.04 | 0.36 |
| Free Cash Flow | 5.92M | -54.83M | -9.51M | 32.51M | -95.09M | -3.78M |
| Free Cash Flow Per Share | 0.72 | -6.62 | -1.15 | 3.92 | -11.47 | -0.46 |
| Dividend Per Share | 0.30 | 0.30 | 0.30 | 0.30 | 0.45 | |
| Gross Margin | 9.40% | 9.24% | 9.67% | 8.77% | 10.36% | 16.78% |
| Operating Margin | 5.80% | 6.01% | 5.91% | 4.49% | 6.23% | 6.87% |
| Profit Margin | 0.55% | 0.69% | 0.83% | 0.64% | 0.08% | 1.61% |
| Free Cash Flow Margin | 0.74% | -6.26% | -1.61% | 6.60% | -21.12% | -2.03% |
| EBITDA | 55.54M | 62.83M | 45.58M | 30.56M | 36.95M | 22.84M |
| EBITDA Margin | 6.99% | 7.18% | 7.73% | 6.20% | 8.21% | 12.27% |
| D&A For EBITDA | 9.41M | 10.27M | 10.75M | 8.43M | 8.90M | 10.04M |
| EBIT | 46.13M | 52.56M | 34.83M | 22.12M | 28.06M | 12.80M |
| EBIT Margin | 5.80% | 6.01% | 5.91% | 4.49% | 6.23% | 6.87% |
| Effective Tax Rate | 68.66% | 59.69% | 55.31% | 64.38% | 89.45% | 26.97% |
| Advertising Expenses | 35.24K | 38.12K | 35.33K | 23.43K | 5.37K |
Balance sheet
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 13.05M | 14.24M | 52.86M | 24.09M | 6.00M | 6.72M |
| Short-Term Investments | 7.76M | 8.13M | 10.57M | 9.60M | 9.36M | 8.70M |
| Cash & Short-Term Investments | 20.81M | 22.37M | 63.43M | 33.68M | 15.37M | 15.42M |
| Accounts Receivable | 117.36M | 146.94M | 94.30M | 46.51M | 109.85M | 12.00M |
| Other Receivables | 5.67M | 2.18M | 3.30M | 1.62M | ||
| Receivables | 123.03M | 149.12M | 94.30M | 49.81M | 109.85M | 13.62M |
| Inventory | 167.36M | 175.70M | 162.44M | 166.16M | 158.11M | 145.57M |
| Other Current Assets | 16.26M | 9.75M | 6.88M | 9.15M | 3.30M | 2.67M |
| Total Current Assets | 327.45M | 356.94M | 327.05M | 258.80M | 286.62M | 177.27M |
| Property, Plant & Equipment | 1.29B | 1.29B | 125.35M | 128.43M | 111.50M | 118.78M |
| Other Long-Term Assets | -1.00 | |||||
| Total Assets | 1.62B | 1.65B | 452.40M | 387.24M | 398.12M | 296.05M |
| Accounts Payable | 23.45M | 35.70M | 33.55M | 15.18M | 19.08M | 12.23M |
| Accrued Expenses | 22.55M | 23.38M | 23.72M | 19.25M | 20.33M | 18.02M |
| Short-Term Debt | 88.02M | 77.34M | 69.22M | 53.66M | 52.29M | 22.80M |
| Current Portion of Long-Term Debt | 22.34M | 13.52M | 26.43M | 24.35M | 35.41M | 11.63M |
| Current Income Taxes Payable | 15.02M | 9.62M | 6.71M | 8.59M | 2.98M | 1.15M |
| Other Current Liabilities | 8.56M | 8.56M | 8.56M | 8.56M | 8.56M | 10.03M |
| Total Current Liabilities | 179.73M | 191.32M | 168.40M | 129.72M | 138.73M | 75.90M |
| Long-Term Debt | 134.47M | 153.29M | 131.16M | 107.83M | 112.80M | 71.69M |
| Other Long-Term Liabilities | 1.00 | |||||
| Total Liabilities | 314.20M | 344.61M | 299.56M | 237.55M | 251.53M | 147.59M |
| Common Stock | 82.88M | 82.88M | 82.88M | 82.88M | 75.35M | 75.35M |
| Retained Earnings | 41.06M | 39.87M | 33.50M | 28.80M | 31.61M | 31.76M |
| Comprehensive Income & Other | 1.18B | 1.18B | 36.45M | 38.00M | 39.63M | 41.36M |
| Shareholders' Equity | 1.30B | 1.30B | 152.84M | 149.68M | 146.59M | 148.47M |
| Total Liabilities & Equity | 1.62B | 1.65B | 452.40M | 387.24M | 398.12M | 296.05M |
| Total Debt | 244.84M | 244.15M | 226.81M | 185.84M | 200.50M | 106.12M |
| Net Cash (Debt) | -224.03M | -221.78M | -163.38M | -152.16M | -185.13M | -90.71M |
| Net Cash Per Share | -27.10 | -26.76 | -19.71 | -18.36 | -22.34 | -10.94 |
| Filing Date Shares Outstanding | 8.29M | 8.29M | 8.29M | 8.29M | 8.29M | 8.29M |
| Total Common Shares Outstanding | 8.29M | 8.29M | 8.29M | 8.29M | 8.29M | 8.29M |
| Working Capital | 147.73M | 165.62M | 158.65M | 129.08M | 147.89M | 101.38M |
| Book Value Per Share | 156.98 | 157.02 | 18.44 | 18.06 | 17.69 | 17.91 |
| Tangible Book Value | 1.30B | 1.30B | 152.84M | 149.68M | 146.59M | 148.47M |
| Tangible Book Value Per Share | 156.98 | 157.02 | 18.44 | 18.06 | 17.69 | 17.91 |
| Land | 30.48M | 30.48M | 30.48M | |||
| Buildings | 67.88M | 56.41M | 56.41M | |||
| Machinery | 158.00M | 144.10M | 142.49M |
Cash flow statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 4.34M | 6.02M | 4.87M | 3.13M | 345.00K | 3.00M |
| Depreciation & Amortization | 17.18M | 10.27M | 10.75M | 8.43M | 8.90M | 10.04M |
| Other Operating Activities | -9.69M | -65.88M | -17.47M | 46.31M | -102.72M | -15.99M |
| Operating Cash Flow | 11.83M | -49.59M | -1.85M | 57.88M | -93.48M | -2.95M |
| Capital Expenditures | -5.91M | -5.24M | -7.67M | -25.37M | -1.61M | -833.77K |
| Investment in Securities | -1.57M | 232.28K | -1.11M | |||
| Investing Cash Flow | -5.91M | -5.24M | -9.24M | -25.14M | -1.61M | -1.94M |
| Long-Term Debt Issued | 17.33M | 40.97M | 94.38M | |||
| Total Debt Issued | -5.77M | 17.33M | 40.97M | 94.38M | ||
| Long-Term Debt Repaid | -14.66M | -131.77K | ||||
| Total Debt Repaid | -18.82M | -14.66M | -131.77K | |||
| Net Debt Issued (Repaid) | -24.58M | 17.33M | 40.97M | -14.66M | 94.38M | -131.77K |
| Common Dividends Paid | -1.12M | -1.12M | -1.12M | |||
| Financing Cash Flow | -25.70M | 16.22M | 39.85M | -14.66M | 94.38M | -131.77K |
| Miscellaneous Cash Flow Adjustments | -1.00K | -100.00 | ||||
| Net Cash Flow | -19.78M | -38.61M | 28.77M | 18.08M | -718.98K | -5.02M |
| Free Cash Flow | 5.92M | -54.83M | -9.51M | 32.51M | -95.09M | -3.78M |
| Free Cash Flow Margin | 0.74% | -6.26% | -1.61% | 6.60% | -21.12% | -2.03% |
| Free Cash Flow Per Share | 0.72 | -6.62 | -1.15 | 3.92 | -11.47 | -0.46 |
| Levered Free Cash Flow | 23.22M | -27.60M | -7.02M | 34.83M | -88.87M | -3.87M |
| Unlevered Free Cash Flow | 44.97M | -5.35M | 7.38M | 43.70M | -75.01M | 2.04M |
| Cash Interest Paid | 34.79M | 35.60M | 23.04M | 14.19M | 22.17M | 9.45M |
| Cash Income Tax Paid | 8.75M | 8.65M | 7.83M | 5.61M | 2.22M | 1.15M |
Ratios
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.03B | 870.28M | 699.54M | 1.00B | 1.21B | 1.34B |
| Enterprise Value | 1.25B | 1.08B | 832.50M | 1.11B | 1.31B | 1.46B |
| Last Close Price | 123.90 | 104.67 | 83.77 | 119.77 | 144.43 | 159.23 |
| PE Ratio | 236.25 | 144.65 | 143.63 | 320.21 | 3,505.37 | 445.39 |
| PS Ratio | 1.29 | 0.99 | 1.19 | 2.04 | 2.69 | 7.19 |
| PB Ratio | 0.79 | 0.67 | 4.58 | 6.70 | 8.25 | 9.01 |
| P/TBV Ratio | 0.79 | 0.67 | 4.58 | 6.70 | 8.25 | 9.01 |
| P/FCF Ratio | 173.42 | 30.85 | ||||
| P/OCF Ratio | 86.83 | 17.33 | ||||
| EV/Sales Ratio | 1.57 | 1.24 | 1.41 | 2.25 | 2.90 | 7.83 |
| EV/EBITDA Ratio | 22.52 | 17.22 | 18.27 | 36.29 | 35.37 | 63.78 |
| EV/EBIT Ratio | 27.12 | 20.59 | 23.91 | 50.12 | 46.58 | 113.85 |
| EV/FCF Ratio | 211.26 | 34.11 | ||||
| Debt / Equity Ratio | 0.19 | 0.19 | 1.48 | 1.24 | 1.37 | 0.71 |
| Debt / EBITDA Ratio | 4.41 | 3.89 | 4.98 | 6.08 | 5.43 | 4.65 |
| Debt / FCF Ratio | 41.35 | 5.72 | ||||
| Net Debt / Equity Ratio | 0.17 | 0.17 | 1.07 | 1.02 | 1.26 | 0.61 |
| Net Debt / EBITDA Ratio | 4.03 | 3.53 | 3.58 | 4.98 | 5.01 | 3.97 |
| Net Debt / FCF Ratio | 37.83 | -4.04 | -17.17 | 4.68 | -1.95 | -24.00 |
| Asset Turnover | 0.76 | 0.83 | 1.41 | 1.25 | 1.30 | 0.63 |
| Inventory Turnover | 4.40 | 4.70 | 3.24 | 2.77 | 2.66 | 1.19 |
| Quick Ratio | 0.80 | 0.90 | 0.94 | 0.64 | 0.90 | 0.38 |
| Current Ratio | 1.82 | 1.87 | 1.94 | 2.00 | 2.07 | 2.34 |
| Return on Equity (ROE) | 0.60% | 0.83% | 3.22% | 2.11% | 0.23% | 2.04% |
| Return on Assets (ROA) | 2.76% | 3.13% | 5.18% | 3.52% | 5.05% | 2.71% |
| Return on Invested Capital (ROIC) | 0.95% | 2.30% | 5.04% | 2.49% | 1.04% | 3.96% |
| Return on Capital Employed (ROCE) | 3.20% | 3.60% | 12.30% | 8.60% | 10.80% | 5.80% |
| Earnings Yield | 0.42% | 0.69% | 0.70% | 0.31% | 0.03% | 0.22% |
| FCF Yield | 0.58% | -6.30% | -1.36% | 3.24% | -7.86% | -0.28% |
| Dividend Yield | 0.24% | 0.29% | 0.36% | 0.25% | 0.28% | |
| Payout Ratio | 25.81% | 18.60% | 22.98% | |||
| Total Shareholder Return | 1.19% | 0.29% | 0.36% | 0.25% | 0.28% |