DSE : ETL
Evince Textiles Limited — Financial statements
Textile Mill Products · Bangladesh
Last price 13.6 BDT (At close: Oct 29, 2026) · Market cap 2.49B
Latest research: Evince Textiles financial analysis: margin recovery to 14% in 9M FY26, BDT 2.9bn net debt (Oct 2026) · Evince Textiles: gross margin rose to 14.2% in nine months to March 2026 after a ten-year low of 9.3% in FY2025; financial expenses take 8.7% of sales
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Financial statements
Evince Textiles Limited (ETL) reported revenue of 3.24B 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 | 3.24B | 3.30B | 3.97B | 2.83B | 2.57B | 1.60B |
| Cost of Revenue | 2.76B | 2.99B | 3.56B | 2.51B | 2.25B | 1.38B |
| Gross Profit | 486.06M | 307.07M | 415.52M | 318.38M | 320.95M | 222.92M |
| Selling, General & Admin | 104.93M | 111.19M | 123.83M | 95.14M | 89.47M | 88.03M |
| Other Operating Expenses | -41.43M | 1.14M | 1.14M | 569.47K | 5.14M | 8.71M |
| Operating Expenses | 65.30M | 114.13M | 126.75M | 96.80M | 95.54M | 97.35M |
| Operating Income | 420.77M | 192.95M | 288.77M | 221.58M | 225.41M | 125.56M |
| Interest Expense | -310.42M | -264.42M | -221.16M | -142.64M | -153.19M | -122.79M |
| Interest & Investment Income | 506.17K | 506.17K | 137.26K | 57.60K | 101.94K | 104.47K |
| Currency Exchange Gain (Loss) | -14.15M | 117.66M | 99.56M | 2.71M | 1.99M | 1.47M |
| Other Non Operating Income (Expenses) | 5.35M | 5.37M | -9.27M | -6.59M | -70.63M | -2.42M |
| EBT Excluding Unusual Items | 102.05M | 52.06M | 158.04M | 75.12M | 3.69M | 1.92M |
| Other Unusual Items | 28.82K | 28.82K | 36.76K | 39.84K | ||
| Pretax Income | 102.08M | 52.09M | 158.08M | 75.16M | 3.69M | 1.92M |
| Income Tax Expense | -15.34M | -1.56M | 50.63M | 30.56M | 30.74M | 3.01M |
| Earnings From Continuing Operations | 117.42M | 53.65M | 107.44M | 44.60M | -27.05M | -1.09M |
| Minority Interest in Earnings | 4.86M | 1.34M | ||||
| Net Income | 117.42M | 53.65M | 107.44M | 44.60M | -22.20M | 255.24K |
| Net Income to Common | 117.42M | 53.65M | 107.44M | 44.60M | -22.20M | 255.24K |
| Shares Outstanding (Basic) | 183.74M | 183.74M | 183.74M | 182.95M | 182.95M | 182.95M |
| Shares Outstanding (Diluted) | 183.74M | 183.74M | 183.74M | 182.95M | 182.95M | 182.95M |
| EPS (Basic) | 0.64 | 0.29 | 0.58 | 0.24 | -0.12 | 0.00 |
| EPS (Diluted) | 0.64 | 0.29 | 0.58 | 0.24 | -0.12 | 0.00 |
| Free Cash Flow | 503.86M | 518.46M | -73.65M | -212.02M | -300.40M | -61.65M |
| Free Cash Flow Per Share | 2.74 | 2.82 | -0.40 | -1.16 | -1.64 | -0.34 |
| Dividend Per Share | 0.25 | 0.25 | 0.25 | 0.23 | 0.20 | 0.20 |
| Gross Margin | 15.00% | 9.31% | 10.46% | 11.24% | 12.50% | 13.90% |
| Operating Margin | 12.98% | 5.85% | 7.27% | 7.82% | 8.78% | 7.83% |
| Profit Margin | 3.62% | 1.63% | 2.70% | 1.57% | -0.86% | 0.02% |
| Free Cash Flow Margin | 15.55% | 15.72% | -1.85% | -7.49% | -11.70% | -3.84% |
| EBITDA | 610.92M | 389.37M | 488.31M | 412.36M | 440.29M | 279.32M |
| EBITDA Margin | 18.85% | 11.81% | 12.29% | 14.56% | 17.14% | 17.42% |
| D&A For EBITDA | 190.16M | 196.43M | 199.54M | 190.78M | 214.88M | 153.76M |
| EBIT | 420.77M | 192.95M | 288.77M | 221.58M | 225.41M | 125.56M |
| EBIT Margin | 12.98% | 5.85% | 7.27% | 7.82% | 8.77% | 7.83% |
| Effective Tax Rate | 32.03% | 40.66% | 834.04% | 156.40% | ||
| Advertising Expenses | 165.00K | 581.70K | 701.40K | 386.00K | 603.36K |
Balance sheet
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 22.00M | 9.68M | 25.67M | 26.33M | 33.87M | 21.82M |
| Short-Term Investments | 13.75M | 13.66M | 13.20M | |||
| Cash & Short-Term Investments | 35.75M | 9.68M | 25.67M | 26.33M | 47.53M | 35.02M |
| Accounts Receivable | 579.19M | 928.53M | 960.72M | 969.90M | 816.89M | 576.86M |
| Other Receivables | 10.68K | 1.84M | ||||
| Receivables | 579.19M | 928.54M | 960.72M | 971.74M | 816.89M | 576.86M |
| Inventory | 1.23B | 1.31B | 1.48B | 1.26B | 1.23B | 1.01B |
| Other Current Assets | 135.45M | 132.43M | 112.57M | 102.99M | 195.61M | 150.30M |
| Total Current Assets | 1.98B | 2.38B | 2.58B | 2.36B | 2.29B | 1.78B |
| Property, Plant & Equipment | 3.67B | 3.44B | 3.56B | 3.23B | 3.14B | 3.24B |
| Long-Term Investments | 83.60M | |||||
| Goodwill | 2.08M | 2.08M | 2.08M | |||
| Other Intangible Assets | 920.72K | 1.08M | ||||
| Total Assets | 5.65B | 5.82B | 6.14B | 5.67B | 5.43B | 5.01B |
| Accounts Payable | 35.27M | 43.80M | 48.93M | 41.21M | 28.98M | 38.75M |
| Accrued Expenses | 171.13M | 187.91M | 137.48M | 152.17M | 123.24M | 139.35M |
| Short-Term Debt | 2.15B | 2.12B | 2.40B | 2.01B | 1.61B | 969.21M |
| Current Portion of Long-Term Debt | 159.00M | 122.67M | 165.08M | 233.83M | 198.00M | 236.43M |
| Current Portion of Leases | 545.40K | 950.91K | 252.41K | 1.02M | 2.70M | |
| Current Income Taxes Payable | 32.19M | 38.81M | 39.42M | 29.38M | 17.09M | 13.88M |
| Other Current Liabilities | 1.89M | 2.00M | 1.54M | 810.00K | 1.02M | 659.18K |
| Total Current Liabilities | 2.55B | 2.52B | 2.79B | 2.47B | 1.98B | 1.40B |
| Long-Term Debt | 572.78M | 756.82M | 772.51M | 750.74M | 938.72M | 1.05B |
| Long-Term Leases | 4.05M | 10.23M | 15.38M | 8.58M | 4.48M | 8.95M |
| Long-Term Deferred Tax Liabilities | 166.17M | 176.54M | 174.96M | 162.20M | 159.17M | 146.62M |
| Other Long-Term Liabilities | 1.00 | |||||
| Total Liabilities | 3.30B | 3.46B | 3.75B | 3.39B | 3.09B | 2.61B |
| Common Stock | 1.84B | 1.84B | 1.84B | 1.83B | 1.83B | 1.83B |
| Retained Earnings | 229.71M | 233.42M | 225.71M | 126.95M | 180.54M | 239.33M |
| Comprehensive Income & Other | 286.16M | 286.16M | 326.56M | 326.56M | 326.56M | 326.56M |
| Total Common Equity | 2.35B | 2.36B | 2.39B | 2.28B | 2.34B | 2.40B |
| Minority Interest | 7.64M | 12.50M | ||||
| Shareholders' Equity | 2.35B | 2.36B | 2.39B | 2.28B | 2.34B | 2.41B |
| Total Liabilities & Equity | 5.65B | 5.82B | 6.14B | 5.67B | 5.43B | 5.01B |
| Total Debt | 2.89B | 3.01B | 3.35B | 3.00B | 2.76B | 2.27B |
| Net Cash (Debt) | -2.85B | -3.00B | -3.33B | -2.98B | -2.71B | -2.23B |
| Net Cash Per Share | -15.53 | -16.33 | -18.10 | -16.27 | -14.81 | -12.20 |
| Filing Date Shares Outstanding | 183.74M | 183.74M | 183.74M | 182.95M | 182.95M | 182.95M |
| Total Common Shares Outstanding | 183.74M | 183.74M | 183.74M | 182.95M | 182.95M | 182.95M |
| Working Capital | -577.16M | -138.55M | -208.83M | -108.43M | 305.61M | 375.83M |
| Book Value Per Share | 12.81 | 12.83 | 13.01 | 12.48 | 12.77 | 13.09 |
| Tangible Book Value | 2.35B | 2.35B | 2.39B | 2.28B | 2.34B | 2.39B |
| Tangible Book Value Per Share | 12.80 | 12.82 | 12.99 | 12.48 | 12.77 | 13.09 |
| Land | 621.23M | 621.23M | 619.58M | 618.45M | ||
| Buildings | 1.37B | 1.37B | 1.28B | 861.43M | ||
| Machinery | 3.17B | 3.10B | 2.77B | 2.18B | ||
| Construction In Progress | 589.42M | 569.52M | 106.13M | 1.00B |
Cash flow statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 117.42M | 53.65M | 107.44M | 44.60M | -22.20M | 255.24K |
| Depreciation & Amortization | 196.69M | 202.97M | 206.07M | 194.05M | 214.88M | 153.76M |
| Other Operating Activities | 247.64M | 225.45M | 234.21M | 16.21M | 156.08M | 95.81M |
| Change in Accounts Receivable | 179.96M | 32.18M | 11.02M | -154.85M | -240.04M | -108.85M |
| Change in Inventory | 279.32M | 176.69M | -213.93M | -60.88M | -215.17M | -111.80M |
| Change in Accounts Payable | -9.23M | -5.13M | 7.72M | 12.22M | -9.76M | 17.66M |
| Change in Other Net Operating Assets | -138.99M | -86.60M | -14.81M | 135.94M | -60.02M | 220.51M |
| Operating Cash Flow | 872.82M | 599.20M | 337.73M | 187.30M | -176.22M | 267.35M |
| Capital Expenditures | -368.96M | -80.74M | -411.38M | -399.32M | -124.18M | -329.00M |
| Investment in Securities | -4.75M | -462.90K | -3.38M | |||
| Investing Cash Flow | -373.71M | -80.74M | -411.38M | -399.32M | -124.64M | -332.38M |
| Short-Term Debt Issued | 387.57M | 403.91M | 645.65M | 13.47M | ||
| Long-Term Debt Issued | 2.50M | 155.84M | ||||
| Total Debt Issued | 33.36M | 2.50M | 387.57M | 403.91M | 645.65M | 169.31M |
| Short-Term Debt Repaid | -162.44M | |||||
| Long-Term Debt Repaid | -65.70M | -53.77M | -147.73M | -149.75M | -1.31M | |
| Lease Payments | -12.40M | -7.59M | -5.90M | -2.95M | ||
| Total Debt Repaid | -165.61M | -228.14M | -53.77M | -147.73M | -149.75M | -1.31M |
| Net Debt Issued (Repaid) | -132.24M | -225.64M | 333.80M | 256.18M | 495.90M | 168.00M |
| Common Dividends Paid | -46.11M | -45.47M | -40.62M | -36.80M | -36.23M | -5.75K |
| Other Financing Activities | -309.34M | -263.34M | -221.16M | -142.64M | -153.19M | -122.79M |
| Financing Cash Flow | -487.70M | -534.45M | 72.02M | 76.74M | 306.47M | 45.21M |
| Foreign Exchange Rate Adjustments | 128.75M | 6.43M | 9.80M | |||
| Miscellaneous Cash Flow Adjustments | 2.00 | |||||
| Net Cash Flow | 11.42M | -15.99M | -1.63M | -6.53M | 12.04M | -10.03M |
| Free Cash Flow | 503.86M | 518.46M | -73.65M | -212.02M | -300.40M | -61.65M |
| Free Cash Flow Margin | 15.55% | 15.72% | -1.85% | -7.49% | -11.70% | -3.84% |
| Free Cash Flow Per Share | 2.74 | 2.82 | -0.40 | -1.16 | -1.64 | -0.34 |
| Levered Free Cash Flow | 333.65M | 311.73M | -382.83M | -192.86M | -386.98M | -183.24M |
| Unlevered Free Cash Flow | 527.67M | 476.99M | -244.60M | -103.71M | -291.23M | -106.49M |
| Free Cash Flow After Leases | 491.45M | 510.87M | -79.54M | -214.97M | -300.40M | -61.65M |
| Cash Interest Paid | 309.34M | 263.34M | 221.16M | 142.64M | 153.19M | 122.79M |
| Cash Income Tax Paid | 48.97M | 37.41M | 37.59M | 28.23M | 16.38M | 18.88M |
| Change in Working Capital | 311.06M | 117.13M | -210.00M | -67.57M | -524.98M | 17.52M |
Ratios
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.49B | 1.63B | 1.90B | 1.90B | 1.76B | 1.88B |
| Enterprise Value | 5.34B | 4.74B | 5.19B | 4.50B | 4.28B | 3.84B |
| Last Close Price | 13.60 | 8.67 | 9.87 | 9.63 | 8.70 | 9.17 |
| PE Ratio | 21.35 | 30.35 | 17.71 | 42.66 | 7,382.88 | |
| PS Ratio | 0.77 | 0.49 | 0.48 | 0.67 | 0.68 | 1.18 |
| PB Ratio | 1.06 | 0.69 | 0.80 | 0.83 | 0.75 | 0.78 |
| P/TBV Ratio | 1.06 | 0.69 | 0.80 | 0.83 | 0.75 | 0.79 |
| P/FCF Ratio | 4.94 | 3.14 | ||||
| P/OCF Ratio | 2.85 | 2.72 | 5.63 | 10.16 | 7.05 | |
| EV/Sales Ratio | 1.65 | 1.44 | 1.30 | 1.59 | 1.67 | 2.39 |
| EV/EBITDA Ratio | 8.65 | 12.18 | 10.62 | 10.90 | 9.73 | 13.74 |
| EV/EBIT Ratio | 12.69 | 24.59 | 17.96 | 20.29 | 19.01 | 30.57 |
| EV/FCF Ratio | 10.60 | 9.15 | ||||
| Debt / Equity Ratio | 1.23 | 1.28 | 1.40 | 1.31 | 1.18 | 0.94 |
| Debt / EBITDA Ratio | 4.68 | 7.60 | 6.77 | 7.23 | 6.26 | 8.11 |
| Debt / FCF Ratio | 5.73 | 5.80 | ||||
| Net Debt / Equity Ratio | 1.21 | 1.27 | 1.39 | 1.30 | 1.16 | 0.93 |
| Net Debt / EBITDA Ratio | 4.67 | 7.71 | 6.81 | 7.22 | 6.15 | 7.99 |
| Net Debt / FCF Ratio | 5.66 | 5.79 | -45.15 | -14.04 | -9.02 | -36.19 |
| Asset Turnover | 0.56 | 0.55 | 0.67 | 0.51 | 0.49 | 0.32 |
| Inventory Turnover | 2.02 | 2.15 | 2.60 | 2.02 | 2.00 | 1.44 |
| Quick Ratio | 0.24 | 0.37 | 0.35 | 0.41 | 0.44 | 0.44 |
| Current Ratio | 0.77 | 0.94 | 0.93 | 0.96 | 1.15 | 1.27 |
| Return on Equity (ROE) | 5.02% | 2.26% | 4.60% | 1.93% | -1.14% | -0.04% |
| Return on Assets (ROA) | 4.55% | 2.02% | 3.06% | 2.50% | 2.70% | 1.59% |
| Return on Invested Capital (ROIC) | 8.04% | 3.48% | 3.58% | 2.55% | -34.14% | -1.57% |
| Return on Capital Employed (ROCE) | 13.60% | 5.80% | 8.60% | 6.90% | 6.50% | 3.50% |
| Earnings Yield | 4.68% | 3.29% | 5.65% | 2.34% | -1.26% | 0.01% |
| FCF Yield | 20.25% | 31.84% | -3.87% | -11.14% | -17.10% | -3.27% |
| Dividend Yield | 1.84% | 2.82% | 2.41% | 2.16% | 2.08% | 1.94% |
| Payout Ratio | 39.26% | 84.74% | 37.80% | 82.51% | 2.25% | |
| Buyback Yield / Dilution | -0.43% | |||||
| Total Shareholder Return | 1.84% | 2.82% | 1.98% | 2.16% | 2.08% | 1.94% |