DSE : ENVOYTEX
Envoy Textiles Limited — Financial statements
Textile Mill Products · Bangladesh
Last price 70.6 BDT (At close: Oct 29, 2026) · Market cap 11.84B
Latest research: Envoy Textiles financial analysis: denim at 105% utilisation, BDT 10.7bn net debt, 32.5% dividend (Oct 2026) · Envoy Textiles: a full denim mill earning BDT 8.24 a share, with finance costs taking half of operating profit
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Financial statements
Envoy Textiles Limited (ENVOYTEX) reported revenue of 17.26B BDT (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 17.26B | 17.26B | 18.57B | 14.26B | 11.09B | 12.40B |
| Cost of Revenue | 13.97B | 13.97B | 15.10B | 11.96B | 9.47B | 10.68B |
| Gross Profit | 3.29B | 3.29B | 3.46B | 2.31B | 1.63B | 1.72B |
| Selling, General & Admin | 671.68M | 671.68M | 521.28M | 403.92M | 352.66M | 364.85M |
| Other Operating Expenses | 1.69M | 1.11M | ||||
| Operating Expenses | 671.68M | 671.68M | 521.28M | 405.61M | 352.66M | 365.97M |
| Operating Income | 2.62B | 2.62B | 2.94B | 1.90B | 1.28B | 1.36B |
| Interest Expense | -1.32B | -1.32B | -1.38B | -1.23B | -763.26M | -724.93M |
| Interest & Investment Income | 2.48M | 2.48M | 1.97M | 1.09M | 1.16M | 2.07M |
| Currency Exchange Gain (Loss) | -2.15M | -2.15M | -19.74M | 47.06M | 3.68M | -38.14M |
| Other Non Operating Income (Expenses) | 190.60M | 190.60M | 59.56M | -1.00 | -1.00 | |
| EBT Excluding Unusual Items | 1.49B | 1.49B | 1.61B | 716.18M | 517.22M | 596.39M |
| Gain (Loss) on Sale of Assets | -11.59M | -11.59M | ||||
| Pretax Income | 1.48B | 1.48B | 1.61B | 716.18M | 517.22M | 596.39M |
| Income Tax Expense | 97.83M | 97.83M | 196.29M | 115.79M | 189.94M | 95.09M |
| Net Income | 1.38B | 1.38B | 1.41B | 600.39M | 327.28M | 501.31M |
| Net Income to Common | 1.38B | 1.38B | 1.41B | 600.39M | 327.28M | 501.31M |
| Shares Outstanding (Basic) | 167.73M | 167.73M | 167.73M | 167.73M | 167.73M | 167.73M |
| Shares Outstanding (Diluted) | 167.73M | 167.73M | 167.73M | 167.73M | 167.73M | 167.73M |
| EPS (Basic) | 8.24 | 8.24 | 8.40 | 3.58 | 1.95 | 2.99 |
| EPS (Diluted) | 8.24 | 8.24 | 8.40 | 3.58 | 1.95 | 2.99 |
| Free Cash Flow | 994.93M | 994.93M | 62.53M | -127.51M | 290.64M | -32.76M |
| Free Cash Flow Per Share | 5.93 | 5.93 | 0.37 | -0.76 | 1.73 | -0.20 |
| Dividend Per Share | 3.25 | 3.25 | 3.00 | 2.00 | 1.50 | 1.50 |
| Gross Margin | 19.05% | 19.05% | 18.65% | 16.17% | 14.68% | 13.90% |
| Operating Margin | 15.16% | 15.16% | 15.84% | 13.33% | 11.50% | 10.95% |
| Profit Margin | 8.00% | 8.00% | 7.59% | 4.21% | 2.95% | 4.04% |
| Free Cash Flow Margin | 5.76% | 5.76% | 0.34% | -0.89% | 2.62% | -0.26% |
| EBITDA | 3.29B | 3.29B | 3.63B | 2.61B | 1.96B | 2.07B |
| EBITDA Margin | 19.07% | 19.07% | 19.55% | 18.32% | 17.62% | 16.67% |
| D&A For EBITDA | 675.46M | 675.46M | 687.73M | 712.35M | 679.47M | 709.69M |
| EBIT | 2.62B | 2.62B | 2.94B | 1.90B | 1.28B | 1.36B |
| EBIT Margin | 15.16% | 15.16% | 15.84% | 13.33% | 11.50% | 10.95% |
| Effective Tax Rate | 6.61% | 6.61% | 12.23% | 16.17% | 36.72% | 15.94% |
| Advertising Expenses | 17.08M | 17.08M | 8.84M | 7.74M | 7.29M | 3.55M |
Balance sheet
Fiscal year July - June; amounts in BDT.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 141.75M | 141.75M | 185.87M | 603.59M | 330.82M | 148.10M |
| Short-Term Investments | 29.37M | 29.37M | 27.87M | 26.66M | 31.53M | |
| Cash & Short-Term Investments | 171.12M | 171.12M | 213.74M | 630.25M | 362.34M | 148.10M |
| Accounts Receivable | 5.41B | 5.41B | 6.29B | 4.71B | 3.43B | 4.42B |
| Other Receivables | 566.91M | 566.91M | 658.52M | 710.09M | 833.78M | 731.16M |
| Receivables | 5.97B | 5.97B | 6.95B | 5.42B | 4.27B | 5.16B |
| Inventory | 5.31B | 5.31B | 6.74B | 5.09B | 5.22B | 3.71B |
| Other Current Assets | 538.23M | 538.23M | 554.10M | 498.29M | 430.18M | 298.52M |
| Total Current Assets | 11.99B | 11.99B | 14.45B | 11.64B | 10.28B | 9.31B |
| Property, Plant & Equipment | 13.17B | 13.17B | 12.36B | 12.30B | 10.40B | 10.38B |
| Other Intangible Assets | 43.82M | 43.82M | 38.86M | 42.02M | 25.95M | 24.48M |
| Other Long-Term Assets | -1.00 | 1.00 | ||||
| Total Assets | 25.20B | 25.20B | 26.85B | 23.99B | 20.70B | 19.72B |
| Accounts Payable | 25.00M | 25.00M | 697.15K | 7.70M | 248.71M | 252.97M |
| Accrued Expenses | 438.19M | 438.19M | 521.91M | 453.97M | 385.29M | 271.76M |
| Short-Term Debt | 7.56B | 7.56B | 11.67B | 7.81B | 6.02B | 5.87B |
| Current Portion of Long-Term Debt | 891.08M | 891.08M | 900.72M | 924.27M | 778.37M | 667.81M |
| Current Portion of Leases | 12.84M | 12.84M | 14.62M | |||
| Current Income Taxes Payable | 153.93M | 153.93M | 225.66M | 221.81M | 210.09M | 74.25M |
| Current Unearned Revenue | 32.34M | 32.34M | 7.04M | 1.37M | 391.83K | 7.98M |
| Other Current Liabilities | 2.13M | 2.13M | 1.73M | 1.71M | 252.32M | 1.35M |
| Total Current Liabilities | 9.11B | 9.11B | 13.34B | 9.42B | 7.90B | 7.14B |
| Long-Term Debt | 5.04B | 5.04B | 3.28B | 5.39B | 5.89B | 5.77B |
| Long-Term Leases | 37.61M | 37.61M | 43.43M | |||
| Long-Term Deferred Tax Liabilities | 891.26M | 891.26M | 407.02M | 463.44M | 445.21M | 393.54M |
| Other Long-Term Liabilities | 1.00 | 1.00 | -1.00 | |||
| Total Liabilities | 15.08B | 15.08B | 17.07B | 15.28B | 14.23B | 13.31B |
| Common Stock | 1.68B | 1.68B | 1.68B | 1.68B | 1.68B | 1.68B |
| Additional Paid-In Capital | 1.09B | 1.09B | 1.10B | 1.10B | 1.10B | 1.11B |
| Retained Earnings | 4.36B | 4.36B | 3.47B | 2.39B | 2.03B | 1.95B |
| Comprehensive Income & Other | 2.99B | 2.99B | 3.54B | 3.55B | 1.66B | 1.67B |
| Shareholders' Equity | 10.12B | 10.12B | 9.78B | 8.71B | 6.47B | 6.41B |
| Total Liabilities & Equity | 25.20B | 25.20B | 26.85B | 23.99B | 20.70B | 19.72B |
| Total Debt | 13.54B | 13.54B | 15.90B | 14.13B | 12.69B | 12.31B |
| Net Cash (Debt) | -13.37B | -13.37B | -15.69B | -13.49B | -12.33B | -12.16B |
| Net Cash Per Share | -79.69 | -79.69 | -93.53 | -80.45 | -73.50 | -72.51 |
| Filing Date Shares Outstanding | 167.73M | 167.73M | 167.73M | 167.73M | 167.73M | 167.73M |
| Total Common Shares Outstanding | 167.73M | 167.73M | 167.73M | 167.73M | 167.73M | 167.73M |
| Working Capital | 2.88B | 2.88B | 1.12B | 2.22B | 2.38B | 2.17B |
| Book Value Per Share | 60.33 | 60.33 | 58.32 | 51.93 | 38.57 | 38.21 |
| Tangible Book Value | 10.08B | 10.08B | 9.74B | 8.67B | 6.44B | 6.38B |
| Tangible Book Value Per Share | 60.07 | 60.07 | 58.09 | 51.68 | 38.42 | 38.06 |
| Land | 3.44B | |||||
| Buildings | 3.79B | |||||
| Machinery | 11.53B | |||||
| Construction In Progress | 185.04K | 5.40M | 335.50M |
Cash flow statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 1.38B | 1.38B | 1.40B | 600.39M | 327.28M | 501.31M |
| Depreciation & Amortization | 675.46M | 675.46M | 687.73M | 712.35M | 679.47M | 709.69M |
| Other Amortization | 9.34M | 9.34M | ||||
| Other Operating Activities | 2.15M | 2.15M | 19.74M | 6.27M | -36.79M | 38.14M |
| Change in Accounts Receivable | 970.75M | 970.75M | -1.52B | -1.15B | 886.54M | -1.37B |
| Change in Inventory | 1.44B | 1.44B | -1.65B | 129.46M | -1.51B | 11.63M |
| Change in Accounts Payable | -1.81B | -1.81B | 1.89B | 346.50M | 693.22M | 638.63M |
| Change in Income Taxes | -128.50M | -128.50M | -41.17M | -24.47M | 186.39M | -22.55M |
| Change in Other Net Operating Assets | -42.55M | -42.55M | 17.79M | 1.51M | -56.84M | 64.77M |
| Operating Cash Flow | 2.50B | 2.50B | 800.43M | 617.91M | 1.17B | 576.11M |
| Capital Expenditures | -1.50B | -1.50B | -737.90M | -745.42M | -881.32M | -608.87M |
| Investment in Securities | -1.50M | -1.50M | -1.21M | 4.86M | -642.78K | 13.40M |
| Other Investing Activities | 5.22M | 187.54M | ||||
| Investing Cash Flow | -1.50B | -1.50B | -739.11M | -735.34M | -694.42M | -595.47M |
| Short-Term Debt Issued | 516.50M | 1.20B | ||||
| Long-Term Debt Issued | 1.76B | 1.76B | 145.89M | 227.22M | 1.33B | |
| Total Debt Issued | 1.76B | 1.76B | 516.50M | 1.35B | 227.22M | 1.33B |
| Short-Term Debt Repaid | -2.28B | -2.28B | -544.49M | -1.14B | ||
| Long-Term Debt Repaid | -11.43M | -11.43M | -639.77M | -501.93M | ||
| Total Debt Repaid | -2.29B | -2.29B | -639.77M | -501.93M | -544.49M | -1.14B |
| Net Debt Issued (Repaid) | -532.04M | -532.04M | -123.28M | 847.04M | -317.27M | 190.06M |
| Common Dividends Paid | -502.80M | -502.80M | -335.45M | -502.18M | -390.33K | -92.38M |
| Other Financing Activities | -567.50K | -567.50K | -575.00K | -1.72M | -13.95M | -8.18M |
| Financing Cash Flow | -1.04B | -1.04B | -459.30M | 343.13M | -331.61M | 89.50M |
| Foreign Exchange Rate Adjustments | -2.15M | -2.15M | -19.74M | 47.06M | 36.79M | -38.14M |
| Miscellaneous Cash Flow Adjustments | 1.00 | -1.00 | ||||
| Net Cash Flow | -44.12M | -44.12M | -417.72M | 272.77M | 182.72M | 31.99M |
| Free Cash Flow | 994.93M | 994.93M | 62.53M | -127.51M | 290.64M | -32.76M |
| Free Cash Flow Margin | 5.76% | 5.76% | 0.34% | -0.89% | 2.62% | -0.26% |
| Free Cash Flow Per Share | 5.93 | 5.93 | 0.37 | -0.76 | 1.73 | -0.20 |
| Levered Free Cash Flow | 2.31B | 2.31B | -2.23B | -1.12B | -145.55M | -380.46M |
| Unlevered Free Cash Flow | 3.14B | 3.14B | -1.37B | -348.23M | 331.48M | 72.62M |
| Cash Interest Paid | 1.29B | 1.29B | 1.38B | 1.23B | 764.16M | 744.20M |
| Cash Income Tax Paid | 229.69M | 229.69M | 274.28M | 141.73M | 171.06M | 120.05M |
| Change in Working Capital | 426.68M | 426.68M | -1.30B | -701.10M | 201.99M | -673.03M |
Ratios
Fiscal year July - June; amounts in BDT.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 11.84B | 9.43B | 6.71B | 5.97B | 7.36B | 7.41B |
| Enterprise Value | 25.21B | 20.62B | 20.63B | 19.11B | 20.03B | 19.74B |
| Last Close Price | 70.60 | 53.56 | 36.02 | 30.56 | 36.35 | 35.35 |
| PE Ratio | 8.57 | 6.82 | 4.76 | 9.95 | 22.50 | 14.79 |
| PS Ratio | 0.69 | 0.55 | 0.36 | 0.42 | 0.66 | 0.60 |
| PB Ratio | 1.17 | 0.93 | 0.69 | 0.69 | 1.14 | 1.16 |
| P/TBV Ratio | 1.18 | 0.94 | 0.69 | 0.69 | 1.14 | 1.16 |
| P/FCF Ratio | 11.90 | 9.47 | 107.30 | 25.34 | ||
| P/OCF Ratio | 4.75 | 3.78 | 8.38 | 9.66 | 6.28 | 12.87 |
| EV/Sales Ratio | 1.46 | 1.19 | 1.11 | 1.34 | 1.81 | 1.59 |
| EV/EBITDA Ratio | 7.65 | 6.26 | 5.68 | 7.31 | 10.25 | 9.55 |
| EV/EBIT Ratio | 9.63 | 7.88 | 7.01 | 10.05 | 15.70 | 14.54 |
| EV/FCF Ratio | 25.34 | 20.72 | 329.86 | 68.92 | ||
| Debt / Equity Ratio | 1.34 | 1.34 | 1.63 | 1.62 | 1.96 | 1.92 |
| Debt / EBITDA Ratio | 4.11 | 4.11 | 4.38 | 5.41 | 6.49 | 5.96 |
| Debt / FCF Ratio | 13.61 | 13.61 | 254.32 | 43.66 | ||
| Net Debt / Equity Ratio | 1.32 | 1.32 | 1.60 | 1.55 | 1.91 | 1.90 |
| Net Debt / EBITDA Ratio | 4.06 | 4.06 | 4.32 | 5.17 | 6.31 | 5.88 |
| Net Debt / FCF Ratio | 13.44 | 13.44 | 250.90 | -105.84 | 42.42 | -371.23 |
| Asset Turnover | 0.66 | 0.66 | 0.73 | 0.64 | 0.55 | 0.65 |
| Inventory Turnover | 2.32 | 2.32 | 2.55 | 2.32 | 2.12 | 2.87 |
| Quick Ratio | 0.68 | 0.68 | 0.54 | 0.64 | 0.59 | 0.74 |
| Current Ratio | 1.32 | 1.32 | 1.08 | 1.24 | 1.30 | 1.30 |
| Return on Equity (ROE) | 13.88% | 13.88% | 15.24% | 7.91% | 5.08% | 7.87% |
| Return on Assets (ROA) | 6.29% | 6.29% | 7.23% | 5.32% | 3.94% | 4.42% |
| Return on Invested Capital (ROIC) | 10.88% | 9.99% | 10.83% | 7.77% | 4.32% | 6.27% |
| Return on Capital Employed (ROCE) | 16.30% | 16.30% | 21.80% | 13.00% | 10.00% | 10.80% |
| Earnings Yield | 11.67% | 14.66% | 21.00% | 10.05% | 4.45% | 6.76% |
| FCF Yield | 8.40% | 10.55% | 0.93% | -2.14% | 3.95% | -0.44% |
| Dividend Yield | 4.60% | 5.78% | 7.50% | 5.62% | 3.42% | 3.39% |
| Payout Ratio | 36.39% | 36.39% | 23.81% | 83.64% | 0.12% | 18.43% |
| Total Shareholder Return | 4.60% | 5.78% | 7.50% | 5.62% | 3.42% | 3.39% |