DSE : IBP
Indo-Bangla Pharmaceuticals Limited — Financial statements
Pharmaceutical Preparations · Bangladesh
Last price 13.1 BDT (At close: Oct 29, 2026) · Market cap 1.52B
Latest research: Indo-Bangla Pharmaceuticals financial analysis: qualified FY2025 audit; FY2025 revenue 21.3% of FY2020 (Oct 2026) · Indo-Bangla Pharmaceuticals: revenue of BDT 184.2m in FY2025 against BDT 866.1m in FY2020, a qualified audit with a going-concern paragraph, and 9M FY2026 profit of BDT 2.8m
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Financial statements
Indo-Bangla Pharmaceuticals Limited (IBP) reported revenue of 242.10M 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 | 242.10M | 184.18M | 176.64M | 374.48M | 484.68M | 782.24M |
| Cost of Revenue | 193.69M | 163.15M | 156.79M | 277.92M | 337.75M | 469.30M |
| Gross Profit | 48.41M | 21.02M | 19.85M | 96.56M | 146.93M | 312.94M |
| Selling, General & Admin | 52.25M | 45.07M | 43.61M | 67.88M | 111.13M | 139.64M |
| Other Operating Expenses | 15.24K | 15.24K | ||||
| Operating Expenses | 52.27M | 45.08M | 43.61M | 67.88M | 111.13M | 139.64M |
| Operating Income | -3.86M | -24.06M | -23.76M | 28.68M | 35.80M | 173.30M |
| Interest Expense | -548.75K | -1.87M | -4.40M | -5.23M | -4.88M | -3.81M |
| Other Non Operating Income (Expenses) | 33.90K | 99.90K | 253.81K | 420.25K | 803.18K | 625.68K |
| EBT Excluding Unusual Items | -4.37M | -25.83M | -27.91M | 23.87M | 31.72M | 170.11M |
| Gain (Loss) on Sale of Assets | 700.00K | -767.86K | ||||
| Pretax Income | -4.37M | -25.83M | -27.91M | 24.57M | 31.72M | 169.34M |
| Income Tax Expense | 10.02M | 11.00M | 13.07M | 16.17M | 6.55M | 34.62M |
| Net Income | -14.39M | -36.83M | -40.98M | 8.41M | 25.17M | 134.73M |
| Net Income to Common | -14.39M | -36.83M | -40.98M | 8.41M | 25.17M | 134.73M |
| Shares Outstanding (Basic) | 116.21M | 116.21M | 116.21M | 116.21M | 116.21M | 113.74M |
| Shares Outstanding (Diluted) | 116.21M | 116.21M | 116.21M | 116.21M | 116.21M | 113.74M |
| EPS (Basic) | -0.12 | -0.32 | -0.35 | 0.07 | 0.22 | 1.18 |
| EPS (Diluted) | -0.12 | -0.32 | -0.35 | 0.07 | 0.22 | 1.18 |
| Free Cash Flow | 56.82M | 57.89M | 23.64M | 42.92M | 47.60M | -49.39M |
| Free Cash Flow Per Share | 0.49 | 0.50 | 0.20 | 0.37 | 0.41 | -0.43 |
| Dividend Per Share | 0.01 | 0.01 | 0.01 | 0.10 | 0.40 | |
| Gross Margin | 19.99% | 11.42% | 11.24% | 25.79% | 30.31% | 40.01% |
| Operating Margin | -1.59% | -13.06% | -13.45% | 7.66% | 7.39% | 22.15% |
| Profit Margin | -5.94% | -20.00% | -23.20% | 2.25% | 5.19% | 17.22% |
| Free Cash Flow Margin | 23.47% | 31.43% | 13.38% | 11.46% | 9.82% | -6.31% |
| EBITDA | 24.12M | 4.40M | 4.78M | 67.05M | 74.93M | 209.20M |
| EBITDA Margin | 9.96% | 2.39% | 2.71% | 17.90% | 15.46% | 26.74% |
| D&A For EBITDA | 27.98M | 28.46M | 28.54M | 38.36M | 39.13M | 35.90M |
| EBIT | -3.86M | -24.06M | -23.76M | 28.68M | 35.80M | 173.30M |
| EBIT Margin | -1.59% | -13.06% | -13.45% | 7.66% | 7.39% | 22.15% |
| Effective Tax Rate | 65.79% | 20.64% | 20.44% | |||
| Advertising Expenses | 124.00K | 100.10K | 770.53K | 4.19M | 7.02M |
Balance sheet
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.58M | 4.34M | 10.40M | 11.30M | 28.69M | 35.59M |
| Cash & Short-Term Investments | 1.58M | 4.34M | 10.40M | 11.30M | 28.69M | 35.59M |
| Accounts Receivable | 240.98M | 196.24M | 202.26M | 223.65M | 218.93M | 245.75M |
| Receivables | 240.98M | 196.24M | 202.26M | 223.65M | 218.93M | 245.75M |
| Inventory | 84.58M | 103.57M | 161.59M | 178.61M | 181.09M | 202.09M |
| Other Current Assets | 113.57M | 121.70M | 121.69M | 117.63M | 110.18M | 125.23M |
| Total Current Assets | 440.72M | 425.85M | 495.94M | 531.20M | 538.89M | 608.67M |
| Property, Plant & Equipment | 1.28B | 1.30B | 1.33B | 1.34B | 1.35B | 1.30B |
| Other Intangible Assets | 422.45K | 476.00K | ||||
| Total Assets | 1.72B | 1.72B | 1.82B | 1.88B | 1.89B | 1.90B |
| Accounts Payable | 3.83M | 17.41M | 855.97K | 832.55K | 926.96K | 618.23K |
| Accrued Expenses | 13.37M | 12.48M | 10.32M | 12.80M | 13.16M | 20.98M |
| Short-Term Debt | 18.15M | 20.00M | 24.20M | 43.61M | 75.36M | 84.94M |
| Current Income Taxes Payable | 53.18M | 51.83M | 49.97M | 52.46M | 50.88M | 50.72M |
| Other Current Liabilities | 15.61M | 15.87M | 14.81M | 15.10M | 13.88M | 13.11M |
| Total Current Liabilities | 104.14M | 117.59M | 100.15M | 124.80M | 154.20M | 170.36M |
| Long-Term Deferred Tax Liabilities | 155.19M | 150.24M | 141.10M | 129.14M | 114.56M | 108.18M |
| Other Long-Term Liabilities | -1.00 | -1.00 | -1.00 | |||
| Total Liabilities | 259.34M | 267.83M | 241.26M | 253.95M | 268.76M | 278.54M |
| Common Stock | 1.16B | 1.16B | 1.16B | 1.16B | 1.16B | 1.14B |
| Retained Earnings | 297.02M | 294.23M | 418.79M | 459.77M | 462.98M | 488.05M |
| Comprehensive Income & Other | 1.00 | |||||
| Shareholders' Equity | 1.46B | 1.46B | 1.58B | 1.62B | 1.63B | 1.63B |
| Total Liabilities & Equity | 1.72B | 1.72B | 1.82B | 1.88B | 1.89B | 1.90B |
| Total Debt | 18.15M | 20.00M | 24.20M | 43.61M | 75.36M | 84.94M |
| Net Cash (Debt) | -16.56M | -15.66M | -13.80M | -32.31M | -46.67M | -49.35M |
| Net Cash Per Share | -0.14 | -0.13 | -0.12 | -0.28 | -0.40 | -0.43 |
| Filing Date Shares Outstanding | 116.21M | 116.21M | 116.21M | 116.21M | 116.21M | 113.74M |
| Total Common Shares Outstanding | 116.21M | 116.21M | 116.21M | 116.21M | 116.21M | 113.74M |
| Working Capital | 336.58M | 308.26M | 395.79M | 406.39M | 384.69M | 438.30M |
| Book Value Per Share | 12.56 | 12.53 | 13.60 | 13.96 | 13.98 | 14.29 |
| Tangible Book Value | 1.46B | 1.46B | 1.58B | 1.62B | 1.63B | 1.63B |
| Tangible Book Value Per Share | 12.55 | 12.53 | 13.60 | 13.96 | 13.98 | 14.29 |
| Land | 160.11M | 160.11M | 160.11M | 160.11M | 162.11M | 93.50M |
| Buildings | 236.17M | 236.17M | 236.17M | 236.17M | 236.17M | 232.92M |
| Machinery | 1.06B | 1.06B | 1.06B | 1.06B | 1.04B | 967.42M |
| Construction In Progress | 33.22M | 33.22M | 39.28M | 29.15M | 23.56M | 66.18M |
Cash flow statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -14.39M | -36.83M | -40.98M | 8.41M | 25.17M | 134.73M |
| Depreciation & Amortization | 27.98M | 28.46M | 28.54M | 38.36M | 39.13M | 35.90M |
| Loss (Gain) From Sale of Assets | 6.06M | 6.06M | -700.00K | 767.86K | ||
| Other Operating Activities | -23.30M | -22.93M | 14.32M | 21.40M | -1.54M | 7.69M |
| Change in Accounts Receivable | -34.51M | 6.02M | 21.39M | -4.72M | 26.82M | -19.67M |
| Change in Inventory | 82.85M | 57.89M | 17.02M | 2.47M | 21.01M | -11.80M |
| Change in Accounts Payable | 4.33M | 17.62M | 23.42K | -94.41K | 308.73K | 246.24K |
| Change in Other Net Operating Assets | 8.36M | 2.16M | -6.55M | 7.82M | -23.61M | 3.17M |
| Operating Cash Flow | 57.38M | 58.45M | 33.77M | 72.95M | 87.28M | 151.02M |
| Capital Expenditures | -560.00K | -560.00K | -10.13M | -30.03M | -39.68M | -200.41M |
| Sale (Purchase) of Real Estate | -13.44M | -14.50M | ||||
| Investing Cash Flow | -560.00K | -560.00K | -10.13M | -43.47M | -54.18M | -200.41M |
| Short-Term Debt Issued | 84.94M | |||||
| Total Debt Issued | 84.94M | |||||
| Short-Term Debt Repaid | -4.20M | -19.41M | -31.75M | -9.59M | ||
| Total Debt Repaid | -1.85M | -4.20M | -19.41M | -31.75M | -9.59M | |
| Net Debt Issued (Repaid) | -1.85M | -4.20M | -19.41M | -31.75M | -9.59M | 84.94M |
| Common Dividends Paid | -1.16M | -1.16M | -286.02K | -10.40M | -24.79M | -26.91M |
| Other Financing Activities | -57.45M | -58.58M | -4.85M | -4.72M | -5.63M | |
| Financing Cash Flow | -60.46M | -63.94M | -24.55M | -46.87M | -40.00M | 58.03M |
| Miscellaneous Cash Flow Adjustments | 1.00 | -1.00 | 1.00 | 13.11M | ||
| Net Cash Flow | -3.64M | -6.05M | -908.36K | -17.39M | -6.90M | 21.75M |
| Free Cash Flow | 56.82M | 57.89M | 23.64M | 42.92M | 47.60M | -49.39M |
| Free Cash Flow Margin | 23.47% | 31.43% | 13.38% | 11.46% | 9.82% | -6.31% |
| Free Cash Flow Per Share | 0.49 | 0.50 | 0.20 | 0.37 | 0.41 | -0.43 |
| Levered Free Cash Flow | 90.30M | 97.36M | 29.92M | 15.65M | 75.07M | -74.57M |
| Unlevered Free Cash Flow | 90.64M | 98.53M | 32.67M | 18.92M | 78.12M | -72.19M |
| Cash Interest Paid | 858.48K | 1.87M | 4.85M | 4.72M | 5.63M | |
| Cash Income Tax Paid | 3.60M | 13.72M | 16.35M | |||
| Change in Working Capital | 61.04M | 83.70M | 31.89M | 5.48M | 24.52M | -28.06M |
Ratios
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.52B | 1.52B | 1.55B | 1.98B | 2.04B | 2.19B |
| Enterprise Value | 1.54B | 1.54B | 1.57B | 2.05B | 2.08B | 2.26B |
| Last Close Price | 13.10 | 13.08 | 13.27 | 16.96 | 17.75 | 18.68 |
| PE Ratio | 234.98 | 80.87 | 16.23 | |||
| PS Ratio | 6.29 | 8.27 | 8.75 | 5.28 | 4.20 | 2.79 |
| PB Ratio | 1.04 | 1.04 | 0.98 | 1.22 | 1.25 | 1.34 |
| P/TBV Ratio | 1.04 | 1.05 | 0.98 | 1.22 | 1.25 | 1.34 |
| P/FCF Ratio | 26.79 | 26.30 | 65.38 | 46.03 | 42.77 | |
| P/OCF Ratio | 26.53 | 26.05 | 45.77 | 27.08 | 23.32 | 14.48 |
| EV/Sales Ratio | 6.36 | 8.38 | 8.89 | 5.46 | 4.29 | 2.89 |
| EV/EBITDA Ratio | 63.80 | 350.91 | 328.22 | 30.52 | 27.74 | 10.81 |
| EV/EBIT Ratio | 71.35 | 58.07 | 13.05 | |||
| EV/FCF Ratio | 27.08 | 26.67 | 66.42 | 47.69 | 43.67 | |
| Debt / Equity Ratio | 0.01 | 0.01 | 0.01 | 0.03 | 0.05 | 0.05 |
| Debt / EBITDA Ratio | 0.75 | 4.55 | 5.06 | 0.65 | 1.01 | 0.41 |
| Debt / FCF Ratio | 0.32 | 0.34 | 1.02 | 1.02 | 1.58 | |
| Net Debt / Equity Ratio | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.03 |
| Net Debt / EBITDA Ratio | 0.69 | 3.56 | 2.89 | 0.48 | 0.62 | 0.24 |
| Net Debt / FCF Ratio | 0.29 | 0.27 | 0.58 | 0.75 | 0.98 | -1.00 |
| Asset Turnover | 0.14 | 0.10 | 0.10 | 0.20 | 0.26 | 0.43 |
| Inventory Turnover | 1.54 | 1.23 | 0.92 | 1.54 | 1.76 | 2.39 |
| Quick Ratio | 2.33 | 1.71 | 2.12 | 1.88 | 1.61 | 1.65 |
| Current Ratio | 4.23 | 3.62 | 4.95 | 4.26 | 3.50 | 3.57 |
| Return on Equity (ROE) | -0.95% | -2.43% | -2.56% | 0.52% | 1.55% | 8.57% |
| Return on Assets (ROA) | -0.14% | -0.85% | -0.80% | 0.95% | 1.18% | 5.95% |
| Return on Invested Capital (ROIC) | -0.26% | -1.57% | -1.46% | 0.59% | 1.70% | 8.67% |
| Return on Capital Employed (ROCE) | -0.20% | -1.50% | -1.40% | 1.60% | 2.10% | 10.00% |
| Earnings Yield | -0.95% | -2.42% | -2.65% | 0.43% | 1.24% | 6.16% |
| FCF Yield | 3.73% | 3.80% | 1.53% | 2.17% | 2.34% | -2.26% |
| Dividend Yield | 0.11% | 0.11% | 0.07% | 0.57% | 2.08% | |
| Payout Ratio | 123.72% | 98.46% | 19.97% | |||
| Buyback Yield / Dilution | 2.37% | -2.17% | ||||
| Total Shareholder Return | 2.48% | 0.11% | 0.07% | -1.60% | 2.08% |