DSE : IPDC
IPDC Finance PLC. — Financial statements
Miscellaneous business Credit Institutions · Bangladesh
Last price 29.7 BDT (At close: Oct 28, 2026) · Market cap 12.76B
Latest research: IPDC Finance valuation report: fair value BDT 6.9–20.7 (Oct 2026) · IPDC Finance fair value BDT 7–21: a normal 12% ROE earns 0.73x book
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Financial statements
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 11.35B | 10.88B | 9.50B | 7.67B | 7.28B | 7.02B |
| Total Interest Expense | 7.60B | 7.57B | 6.44B | 5.03B | 4.32B | 3.77B |
| Net Interest Income | 3.75B | 3.32B | 3.06B | 2.64B | 2.96B | 3.25B |
| Commissions and Fees | 153.58M | 140.86M | 142.08M | 207.35M | 151.19M | 180.34M |
| Revenue Before Loan Losses | 3.90B | 3.46B | 3.20B | 2.85B | 3.11B | 3.43B |
| Provision for Loan Losses | 1.46B | 875.22M | 811.80M | 638.77M | 449.86M | 673.13M |
| Revenue | 2.44B | 2.58B | 2.39B | 2.21B | 2.66B | 2.75B |
| Salaries & Employee Benefits | 1.12B | 1.06B | 923.64M | 987.69M | 848.35M | 724.16M |
| Cost of Services Provided | 261.53M | 266.16M | 247.69M | 298.31M | 309.03M | 281.68M |
| Other Operating Expenses | 129.21M | 144.86M | 148.04M | 102.27M | 51.87M | 101.47M |
| Total Operating Expenses | 1.65B | 1.61B | 1.47B | 1.55B | 1.36B | 1.24B |
| Operating Income | 789.40M | 970.84M | 925.54M | 660.15M | 1.30B | 1.52B |
| EBT Excluding Unusual Items | 789.40M | 970.84M | 925.54M | 660.15M | 1.30B | 1.52B |
| Gain (Loss) on Sale of Investments | -18.40M | -51.97M | -53.41M | -9.65K | -35.42M | -13.99M |
| Pretax Income | 771.37M | 919.23M | 872.26M | 660.49M | 1.26B | 1.50B |
| Income Tax Expense | 259.30M | 463.76M | 509.02M | 317.54M | 363.35M | 622.27M |
| Net Income | 512.07M | 455.47M | 363.23M | 342.96M | 901.02M | 881.06M |
| Net Income to Common | 512.07M | 455.47M | 363.23M | 342.96M | 901.02M | 881.06M |
| Shares Outstanding (Basic) | 430.33M | 429.58M | 429.58M | 429.58M | 429.58M | 429.58M |
| Shares Outstanding (Diluted) | 430.33M | 429.58M | 429.58M | 429.58M | 429.58M | 429.58M |
| EPS (Basic) | 1.19 | 1.06 | 0.85 | 0.80 | 2.10 | 2.05 |
| EPS (Diluted) | 1.19 | 1.06 | 0.85 | 0.80 | 2.10 | 2.05 |
| Free Cash Flow | 5.71B | 4.04B | -2.54B | 164.71M | -4.27B | -2.50B |
| Free Cash Flow Per Share | 13.26 | 9.39 | -5.90 | 0.38 | -9.94 | -5.81 |
| Dividend Per Share | 0.48 | 0.48 | 0.43 | 0.86 | 1.04 | |
| Operating Margin | 32.33% | 37.62% | 38.72% | 29.92% | 48.85% | 55.10% |
| Profit Margin | 20.97% | 17.65% | 15.19% | 15.54% | 33.86% | 32.00% |
| Free Cash Flow Margin | 233.64% | 156.35% | -106.04% | 7.46% | -160.49% | -90.70% |
| Effective Tax Rate | 33.62% | 50.45% | 58.36% | 48.08% | 28.74% | 41.39% |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 11.46B | 9.92B | 7.08B | 14.14B | 12.67B | 14.22B |
| Long-Term Investments | 15.34B | 10.66B | 9.51B | 4.52B | 2.50B | 2.74B |
| Loans & Lease Receivables | 74.17B | 74.62B | 69.54B | 70.57B | 68.11B | 65.33B |
| Other Receivables | 209.04M | 185.26M | 172.23M | 127.75M | 165.20M | |
| Property, Plant & Equipment | 758.36M | 599.80M | 697.21M | 745.40M | 798.97M | 658.70M |
| Other Intangible Assets | 197.16M | 44.29M | 62.17M | 77.36M | 106.54M | |
| Other Current Assets | 2.31B | 1.83B | 1.44B | 1.85B | 1.56B | |
| Long-Term Deferred Tax Assets | 95.82M | 109.77M | 114.87M | 87.70M | 43.63M | |
| Other Long-Term Assets | 3.13B | 121.51M | 127.69M | 175.85M | 506.35M | 147.71M |
| Total Assets | 104.87B | 98.73B | 89.12B | 91.93B | 86.73B | 84.97B |
| Interest Bearing Deposits | 67.17B | 62.25B | 54.32B | 60.18B | 59.14B | 60.41B |
| Total Deposits | 67.17B | 62.25B | 54.32B | 60.18B | 59.14B | 60.41B |
| Accounts Payable | 238.53M | 225.88M | 375.46M | 300.66M | 203.70M | |
| Accrued Expenses | 2.80B | 2.21B | 1.84B | 1.75B | 1.65B | |
| Short-Term Debt | 4.59B | 6.81B | 4.48B | 3.71B | 5.06B | |
| Current Portion of Long-Term Debt | 2.69B | 1.60B | 1.96B | 1.04B | ||
| Current Portion of Leases | 45.82M | 47.58M | 40.48M | 36.45M | 26.07M | |
| Long-Term Debt | 17.44B | 9.46B | 9.02B | 9.67B | 8.39B | 4.40B |
| Long-Term Leases | 90.24M | 136.06M | 172.86M | 167.30M | 68.28M | |
| Long-Term Unearned Revenue | 656.45M | 575.97M | 547.58M | 483.92M | 436.45M | |
| Current Income Taxes Payable | 2.71B | 2.22B | 1.72B | 2.41B | 2.42B | |
| Other Current Liabilities | 187.75M | 176.71M | 181.03M | 168.94M | 136.41M | |
| Long-Term Deferred Tax Liabilities | 82.81M | 110.26M | 122.71M | 112.35M | 77.27M | |
| Pension & Post-Retirement Benefits | 13.08M | 14.25M | 14.85M | 6.23M | 22.00M | |
| Other Long-Term Liabilities | 12.95B | 5.61B | 4.74B | 3.89B | 3.25B | 2.68B |
| Total Liabilities | 97.56B | 91.43B | 82.21B | 85.18B | 79.93B | 78.62B |
| Common Stock | 4.30B | 4.09B | 3.90B | 3.71B | 3.71B | 3.71B |
| Additional Paid-In Capital | 402.63M | 402.63M | 402.63M | 402.63M | 402.63M | 402.63M |
| Retained Earnings | 2.18B | 2.38B | 2.32B | 2.35B | 2.38B | 1.93B |
| Comprehensive Income & Other | 427.97M | 428.28M | 290.41M | 291.91M | 304.58M | 305.97M |
| Shareholders' Equity | 7.31B | 7.30B | 6.91B | 6.75B | 6.80B | 6.35B |
| Total Liabilities & Equity | 104.87B | 98.73B | 89.12B | 91.93B | 86.73B | 84.97B |
| Total Debt | 17.44B | 16.88B | 17.62B | 16.31B | 12.30B | 10.59B |
| Net Cash (Debt) | -5.98B | -6.96B | -10.54B | -2.18B | 373.96M | 3.63B |
| Net Cash Per Share | -13.91 | -16.20 | -24.52 | -5.06 | 0.87 | 8.46 |
| Filing Date Shares Outstanding | 429.58M | 429.58M | 429.58M | 429.58M | 429.58M | 429.58M |
| Total Common Shares Outstanding | 429.58M | 429.58M | 429.58M | 429.58M | 429.58M | 429.58M |
| Working Capital | 18.47B | 1.44B | 774.63M | 5.08B | 5.76B | 1.44B |
| Book Value Per Share | 17.01 | 17.00 | 16.08 | 15.72 | 15.84 | 14.79 |
| Tangible Book Value | 7.31B | 7.11B | 6.86B | 6.69B | 6.73B | 6.25B |
| Tangible Book Value Per Share | 17.01 | 16.54 | 15.98 | 15.57 | 15.66 | 14.54 |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 512.07M | 455.47M | 363.23M | 342.96M | 901.02M | 881.06M |
| Depreciation & Amortization | 97.01M | 93.22M | 102.56M | 104.91M | 103.55M | 87.34M |
| Other Amortization | 14.71M | 14.71M | 16.11M | 32.29M | 34.58M | 29.90M |
| Loss (Gain) From Sale of Investments | 51.97M | 51.97M | 53.41M | 9.65K | 35.42M | 13.99M |
| Provision for Credit Losses | 875.22M | 875.22M | 811.80M | 638.77M | 449.86M | 673.13M |
| Change in Income Taxes | -479.08M | -479.08M | -397.35M | -628.74M | -666.73M | -373.23M |
| Change in Other Net Operating Assets | 3.62B | 2.04B | -4.30B | -648.69M | -5.53B | -4.27B |
| Other Operating Activities | 1.05B | 1.01B | 860.23M | 380.24M | 526.20M | 546.67M |
| Operating Cash Flow | 5.74B | 4.07B | -2.49B | 221.40M | -4.14B | -2.41B |
| Capital Expenditures | -36.89M | -33.00M | -42.70M | -56.69M | -125.57M | -85.28M |
| Sale of Property, Plant & Equipment | 2.52M | 435.28K | 131.22K | 4.83M | 2.42M | 6.79M |
| Investment in Securities | -2.37B | -1.14B | -4.99B | -2.00B | 240.98M | 2.27B |
| Investing Cash Flow | -2.40B | -1.18B | -5.04B | -2.05B | 117.82M | 2.19B |
| Long-Term Debt Issued | 1.99B | 1.70B | 3.95B | 3.37B | 1.12B | |
| Long-Term Debt Repaid | -1.85B | -1.04B | -290.22M | -443.88M | -894.67M | |
| Lease Payments | -49.59M | -47.58M | -42.36M | -36.39M | -32.92M | |
| Net Debt Issued (Repaid) | 1.35B | 139.80M | 658.60M | 3.66B | 2.92B | 221.12M |
| Common Dividends Paid | -91.78K | -195.01M | -185.67M | -370.90M | -444.65M | -448.79M |
| Other Financing Activities | 2.51K | |||||
| Financing Cash Flow | 1.35B | -55.21M | 472.93M | 3.29B | 2.48B | -227.68M |
| Net Cash Flow | 4.69B | 2.84B | -7.06B | 1.46B | -1.55B | -450.00M |
| Free Cash Flow | 5.71B | 4.04B | -2.54B | 164.71M | -4.27B | -2.50B |
| Free Cash Flow Margin | 233.64% | 156.35% | -106.04% | 7.46% | -160.49% | -90.70% |
| Free Cash Flow Per Share | 13.26 | 9.39 | -5.90 | 0.38 | -9.94 | -5.81 |
| Free Cash Flow After Leases | 5.66B | 3.99B | -2.58B | 128.32M | -4.30B | -2.50B |
| Cash Interest Paid | 7.31B | 6.99B | 6.06B | 4.90B | 4.20B | 3.84B |
| Cash Income Tax Paid | 460.09M | 479.08M | 397.35M | 628.74M | 666.73M | 373.23M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 12.63B | 7.73B | 7.13B | 21.37B | 21.37B | 14.32B |
| PE Ratio | 24.71 | 16.98 | 19.63 | 62.33 | 23.72 | 16.26 |
| PS Ratio | 5.17 | 3.00 | 2.98 | 9.69 | 8.03 | 5.20 |
| PB Ratio | 1.73 | 1.06 | 1.03 | 3.17 | 3.14 | 2.25 |
| P/FCF Ratio | 2.21 | 1.92 | 129.77 | |||
| P/OCF Ratio | 2.20 | 1.90 | 96.54 | |||
| Debt / Equity Ratio | 2.39 | 2.31 | 2.55 | 2.42 | 1.81 | 1.67 |
| Debt / FCF Ratio | 3.06 | 4.18 | 99.04 | |||
| Net Debt / Equity Ratio | 0.82 | 0.95 | 1.52 | 0.32 | -0.06 | -0.57 |
| Net Debt / FCF Ratio | 1.05 | 1.72 | -4.16 | 13.21 | 0.09 | 1.46 |
| Quick Ratio | 1.27 | 0.99 | 0.98 | 1.05 | 1.06 | 1.00 |
| Current Ratio | 1.27 | 1.02 | 1.01 | 1.07 | 1.08 | 1.02 |
| Asset Turnover | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Return on Equity (ROE) | 7.22% | 6.41% | 5.32% | 5.06% | 13.70% | 14.19% |
| Return on Assets (ROA) | 0.51% | 0.48% | 0.40% | 0.38% | 1.05% | 1.09% |
| Return on Invested Capital (ROIC) | 2.26% | 1.98% | 1.62% | 1.63% | 5.14% | 5.22% |
| Earnings Yield | 4.05% | 5.89% | 5.09% | 1.60% | 4.21% | 6.15% |
| FCF Yield | 45.17% | 52.19% | -35.55% | 0.77% | -19.98% | -17.44% |
| Dividend Yield | 1.62% | 2.65% | 2.87% | 0.87% | 1.74% | 3.11% |
| Payout Ratio | 0.02% | 42.81% | 51.12% | 108.15% | 49.35% | 50.94% |
| Total Shareholder Return | 0.53% | 2.65% | 2.87% | 0.87% | 1.74% | 3.11% |