DSE:INDEXAGRO

Index Agro Industries Limited research

Reports on Index Agro Industries Limited

Company · Analysis · 29 Oct 2026

Index Agro Industries: a feed and day-old-chick producer whose FY2025 gross margin was the highest in eight years while financial expenses rose 56% and FY2026 EPS fell to BDT 4.10

Feed is about three quarters of revenue; short-term bank loans of BDT 2.2-2.6bn since June 2023 sit beside an inventory that sat at 290 days of cost of sales in FY2025; the FY2025 audit was qualified on a tax balance that the company has since restated; the board recommended a 12.5% cash dividend for FY2026.

Index Agro Industries Ltd. was incorporated in September 2000 as a private company and became a public limited company in March 2015. Its principal activities, in the words of the notes, are "manufacturing and marketing of poultry feed, fish feed and producing (DOC)", day-old chicks.…

Peer comparisons and industry research covering Index Agro Industries Limited

Company · DSE:AMANFEED · FMCG, food & tobacco (animal feed) · Analysis · 31 Oct 2026

Aman Feed: BDT 9.6bn of feed sales, a 10.8% gross margin and BDT 5.7bn of bank loans left FY2026 EPS at BDT 0.24

Tonnes sold fell 21% from FY2023 to FY2025, finance costs and credit-loss charges took most of a BDT 631m operating profit, and FY2026 EPS was BDT 0.24; the shares trade at 121x that EPS and 1.05x NAV.

Aman Feed PLC makes pelleted poultry feed, fish feed and cattle feed at one factory at Singhagati, Ullapara, Sirajganj. Four individuals, Md. Rafiqul Islam (chairman), Md. Shofiqul Islam (managing director), Md. Toufiqul Islam and Md. Toriqul Islam, hold 61.0% between them, and three companies, Aman…

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