DSE : LOVELLO
Taufika Foods and Lovello Ice-cream PLC — Financial statements
Ice Cream and Frozen Desserts · Bangladesh
Last price 49 BDT (At close: Oct 29, 2026) · Market cap 4.81B
Latest research: Taufika Foods and Lovello Ice-cream financial analysis: 43% sales growth on a restated, debt-heavy balance sheet (Oct 2026) · Lovello: ice-cream sales up 43% in nine months, on a restated balance sheet that now carries BDT 2.3bn of borrowings
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Financial statements
Taufika Foods and Lovello Ice-cream PLC (LOVELLO) reported revenue of 1.58B 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 | 1.58B | 1.15B | 992.13M | 943.67M | 960.39M | 850.80M |
| Cost of Revenue | 907.64M | 664.22M | 577.94M | 558.93M | 557.32M | 494.91M |
| Gross Profit | 670.53M | 487.10M | 414.20M | 384.74M | 403.07M | 355.89M |
| Selling, General & Admin | 189.50M | 176.65M | 148.65M | 149.86M | 148.47M | 144.53M |
| Operating Expenses | 189.50M | 176.65M | 148.65M | 149.86M | 148.47M | 144.53M |
| Operating Income | 481.02M | 310.45M | 265.55M | 234.87M | 254.59M | 211.36M |
| Interest Expense | -142.38M | -143.98M | -126.82M | -115.63M | -118.53M | -116.80M |
| Interest & Investment Income | 974.41K | 974.41K | 1.57M | 947.01K | 1.15M | 1.15M |
| Other Non Operating Income (Expenses) | 43.09M | 25.02M | 11.91M | 11.40M | 9.41M | 1.22M |
| Pretax Income | 382.70M | 192.47M | 152.21M | 131.59M | 146.62M | 96.92M |
| Income Tax Expense | 76.54M | 38.49M | 30.44M | 26.32M | 25.02M | 1.91M |
| Net Income | 306.16M | 153.98M | 121.77M | 105.26M | 121.60M | 95.01M |
| Net Income to Common | 306.16M | 153.98M | 121.77M | 105.26M | 121.60M | 95.01M |
| Shares Outstanding (Basic) | 101.84M | 98.17M | 98.17M | 98.17M | 98.17M | 77.67M |
| Shares Outstanding (Diluted) | 101.84M | 98.17M | 98.17M | 98.17M | 98.17M | 77.67M |
| EPS (Basic) | 3.01 | 1.57 | 1.24 | 1.07 | 1.24 | 1.22 |
| EPS (Diluted) | 3.01 | 1.57 | 1.24 | 1.07 | 1.24 | 1.22 |
| Free Cash Flow | 398.20M | 26.54M | 192.75M | -31.04M | 20.98M | -40.44M |
| Free Cash Flow Per Share | 3.91 | 0.27 | 1.96 | -0.32 | 0.21 | -0.52 |
| Dividend Per Share | 1.05 | 0.87 | 0.87 | 1.04 | 0.95 | |
| Gross Margin | 42.49% | 42.31% | 41.75% | 40.77% | 41.97% | 41.83% |
| Operating Margin | 30.48% | 26.96% | 26.77% | 24.89% | 26.51% | 24.84% |
| Profit Margin | 19.40% | 13.37% | 12.27% | 11.15% | 12.66% | 11.17% |
| Free Cash Flow Margin | 25.23% | 2.31% | 19.43% | -3.29% | 2.18% | -4.75% |
| EBITDA | 665.75M | 465.13M | 380.16M | 344.70M | 356.91M | 305.87M |
| EBITDA Margin | 42.19% | 40.40% | 38.32% | 36.53% | 37.16% | 35.95% |
| D&A For EBITDA | 184.73M | 154.68M | 114.61M | 109.83M | 102.32M | 94.51M |
| EBIT | 481.02M | 310.45M | 265.55M | 234.87M | 254.59M | 211.36M |
| EBIT Margin | 30.48% | 26.96% | 26.77% | 24.89% | 26.51% | 24.84% |
| Effective Tax Rate | 20.00% | 20.00% | 20.00% | 20.00% | 17.07% | 1.97% |
| Advertising Expenses | 2.10M | 2.55M | 3.74M | 3.97M | 5.94M |
Balance sheet
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 126.54M | 138.11M | 159.58M | 145.09M | 125.37M | 173.15M |
| Cash & Short-Term Investments | 126.54M | 138.11M | 159.58M | 145.09M | 125.37M | 173.15M |
| Accounts Receivable | 648.09M | 579.29M | 439.86M | 426.62M | 355.52M | 298.84M |
| Receivables | 648.09M | 579.29M | 439.86M | 426.62M | 355.52M | 298.84M |
| Inventory | 650.49M | 580.27M | 552.72M | 482.40M | 364.93M | 299.73M |
| Prepaid Expenses | 2.02M | 711.87K | 937.04K | 3.72M | 2.64M | |
| Other Current Assets | 931.16M | 779.84M | 569.67M | 225.89M | 171.84M | 101.09M |
| Total Current Assets | 2.36B | 2.08B | 1.72B | 1.28B | 1.02B | 875.47M |
| Property, Plant & Equipment | 1.85B | 1.80B | 1.67B | 1.33B | 1.25B | 1.26B |
| Long-Term Investments | 13.02M | 14.33M | 13.80M | 13.79M | 12.91M | |
| Other Intangible Assets | 406.77K | 429.83K | 462.15K | 451.81K | 633.61K | 839.72K |
| Other Long-Term Assets | 1.00 | -1.00 | -1.00 | 13.50M | -1.00 | |
| Total Assets | 4.22B | 3.89B | 3.41B | 2.62B | 2.29B | 2.15B |
| Accounts Payable | 380.17M | 15.71M | 15.12M | 13.18M | 10.06M | 11.89M |
| Accrued Expenses | 47.52M | 244.16M | 56.53M | 76.14M | 41.12M | 67.26M |
| Short-Term Debt | 13.90M | 86.52M | 51.25M | |||
| Current Portion of Long-Term Debt | 280.32M | 301.73M | 392.07M | 194.41M | 128.82M | 119.50M |
| Current Portion of Leases | 103.70M | 97.16M | 90.44M | 83.33M | 86.67M | 78.53M |
| Current Income Taxes Payable | 231.64M | 156.17M | 120.02M | 91.02M | 79.38M | 66.02M |
| Other Current Liabilities | 23.04M | 17.92M | 13.47M | 70.79M | 13.23M | 7.88M |
| Total Current Liabilities | 1.07B | 832.86M | 687.65M | 542.78M | 445.80M | 402.32M |
| Long-Term Debt | 1.50B | 1.62B | 1.37B | 680.45M | 450.86M | 418.25M |
| Long-Term Leases | 282.95M | 265.10M | 246.75M | 227.38M | 236.49M | 214.27M |
| Long-Term Deferred Tax Liabilities | 50.59M | 53.40M | 51.06M | 74.12M | 59.44M | 47.77M |
| Other Long-Term Liabilities | -1.00 | -1.00 | -1.00 | |||
| Total Liabilities | 2.90B | 2.77B | 2.36B | 1.52B | 1.19B | 1.08B |
| Common Stock | 981.75M | 935.00M | 850.00M | 850.00M | 850.00M | 850.00M |
| Retained Earnings | 338.78M | 187.77M | 203.80M | 249.65M | 246.39M | 218.29M |
| Shareholders' Equity | 1.32B | 1.12B | 1.05B | 1.10B | 1.10B | 1.07B |
| Total Liabilities & Equity | 4.22B | 3.89B | 3.41B | 2.62B | 2.29B | 2.15B |
| Total Debt | 2.17B | 2.28B | 2.10B | 1.20B | 989.36M | 881.80M |
| Net Cash (Debt) | -2.04B | -2.14B | -1.94B | -1.05B | -863.99M | -708.64M |
| Net Cash Per Share | -20.05 | -21.82 | -19.78 | -10.74 | -8.80 | -9.12 |
| Filing Date Shares Outstanding | 98.21M | 98.17M | 98.17M | 98.17M | 98.17M | 98.17M |
| Total Common Shares Outstanding | 98.21M | 98.17M | 98.17M | 98.17M | 98.17M | 98.17M |
| Working Capital | 1.29B | 1.25B | 1.03B | 738.16M | 575.57M | 473.14M |
| Book Value Per Share | 13.45 | 11.44 | 10.73 | 11.20 | 11.17 | 10.88 |
| Tangible Book Value | 1.32B | 1.12B | 1.05B | 1.10B | 1.10B | 1.07B |
| Tangible Book Value Per Share | 13.44 | 11.43 | 10.73 | 11.20 | 11.16 | 10.87 |
| Land | 86.42M | 84.60M | 84.36M | 84.36M | 84.36M | |
| Buildings | 166.69M | 91.69M | 91.69M | 91.69M | 91.69M | |
| Machinery | 2.32B | 2.11B | 1.54B | 1.36B | 1.20B | |
| Construction In Progress | 38.38M | 29.61M | 31.27M | 34.78M |
Cash flow statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 306.16M | 153.98M | 121.77M | 105.26M | 121.60M | 95.01M |
| Depreciation & Amortization | 173.56M | 173.56M | 136.92M | 134.82M | 130.40M | 126.17M |
| Other Amortization | 297.33K | 297.33K | 304.65K | 361.81K | 491.11K | 526.12K |
| Other Operating Activities | 410.34M | 182.66M | 156.45M | 143.18M | 147.13M | 89.08M |
| Change in Accounts Receivable | -139.42M | -139.42M | -13.24M | -71.10M | -56.68M | -30.07M |
| Change in Inventory | -27.55M | -27.55M | -19.23M | -117.47M | -65.19M | -35.12M |
| Change in Accounts Payable | 189.47M | 189.47M | -17.92M | 28.44M | -33.36M | -28.25M |
| Change in Other Net Operating Assets | -211.28M | -211.28M | -11.20M | -43.80M | -66.17M | -45.56M |
| Operating Cash Flow | 701.59M | 321.72M | 353.85M | 179.69M | 178.22M | 171.77M |
| Capital Expenditures | -303.40M | -295.18M | -161.10M | -210.73M | -157.24M | -212.22M |
| Investment in Securities | 1.31M | -533.11K | -6.61K | -290.76K | -594.97K | -856.78K |
| Other Investing Activities | 513.33K | 1.66M | 34.78M | |||
| Investing Cash Flow | -301.57M | -295.72M | -159.45M | -211.02M | -123.05M | -213.07M |
| Long-Term Debt Issued | 178.69M | 91.18M | 222.57M | 107.56M | ||
| Long-Term Debt Repaid | -12.45M | -72.09M | ||||
| Lease Payments | -12.45M | |||||
| Net Debt Issued (Repaid) | -95.24M | 178.69M | 91.18M | 210.12M | 107.56M | -72.09M |
| Issuance of Common Stock | 85.00M | 85.00M | 300.00M | |||
| Common Dividends Paid | -97.60M | -80.55M | -142.30M | -36.74M | -87.99M | |
| Other Financing Activities | -271.23M | -230.62M | -128.80M | -122.33M | -122.52M | -118.04M |
| Financing Cash Flow | -379.08M | -47.48M | -179.92M | 51.05M | -102.95M | 109.87M |
| Miscellaneous Cash Flow Adjustments | 1.00 | |||||
| Net Cash Flow | 20.94M | -21.47M | 14.49M | 19.73M | -47.79M | 68.58M |
| Free Cash Flow | 398.20M | 26.54M | 192.75M | -31.04M | 20.98M | -40.44M |
| Free Cash Flow Margin | 25.23% | 2.31% | 19.43% | -3.29% | 2.18% | -4.75% |
| Free Cash Flow Per Share | 3.91 | 0.27 | 1.96 | -0.32 | 0.21 | -0.52 |
| Levered Free Cash Flow | -166.91M | -410.28M | -133.53M | -144.26M | -149.74M | |
| Unlevered Free Cash Flow | -76.92M | -331.01M | -61.26M | -70.17M | -76.74M | |
| Free Cash Flow After Leases | 398.20M | 26.54M | 192.75M | -43.49M | 20.98M | -40.44M |
| Cash Interest Paid | 142.38M | 143.98M | 126.82M | 115.63M | 118.53M | 116.80M |
| Cash Income Tax Paid | 3.19M | 3.47M | 4.59M | 10.37M | 15.96M | 10.78M |
| Change in Working Capital | -188.77M | -188.77M | -61.59M | -203.93M | -221.40M | -139.01M |
Ratios
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.81B | 9.22B | 7.36B | 3.22B | 3.56B | 2.38B |
| Enterprise Value | 6.85B | 10.48B | 8.46B | 4.13B | 4.37B | 3.09B |
| Last Close Price | 49.00 | 92.81 | 73.26 | 31.22 | 33.53 | 21.83 |
| PE Ratio | 16.30 | 59.87 | 60.45 | 30.60 | 29.29 | 25.05 |
| PS Ratio | 3.05 | 8.01 | 7.42 | 3.41 | 3.71 | 2.80 |
| PB Ratio | 3.64 | 8.21 | 6.99 | 2.93 | 3.25 | 2.23 |
| P/TBV Ratio | 3.64 | 8.21 | 6.99 | 2.93 | 3.25 | 2.23 |
| P/FCF Ratio | 12.08 | 347.41 | 38.19 | 169.76 | ||
| P/OCF Ratio | 6.86 | 28.66 | 20.80 | 17.93 | 19.98 | 13.86 |
| EV/Sales Ratio | 4.34 | 9.11 | 8.53 | 4.38 | 4.55 | 3.63 |
| EV/EBITDA Ratio | 10.01 | 22.54 | 22.25 | 11.98 | 12.25 | 10.11 |
| EV/EBIT Ratio | 14.25 | 33.77 | 31.85 | 17.58 | 17.17 | 14.63 |
| EV/FCF Ratio | 17.21 | 395.09 | 43.88 | 208.36 | ||
| Debt / Equity Ratio | 1.64 | 2.03 | 1.99 | 1.09 | 0.90 | 0.82 |
| Debt / EBITDA Ratio | 3.17 | 4.71 | 5.22 | 3.24 | 2.57 | 2.61 |
| Debt / FCF Ratio | 5.45 | 85.93 | 10.90 | 47.16 | ||
| Net Debt / Equity Ratio | 1.55 | 1.91 | 1.84 | 0.96 | 0.79 | 0.66 |
| Net Debt / EBITDA Ratio | 3.07 | 4.61 | 5.11 | 3.06 | 2.42 | 2.32 |
| Net Debt / FCF Ratio | 5.13 | 80.72 | 10.07 | -33.97 | 41.18 | -17.52 |
| Asset Turnover | 0.32 | 0.33 | 0.38 | 0.43 | 0.42 | |
| Inventory Turnover | 1.17 | 1.12 | 1.32 | 1.68 | 1.75 | |
| Quick Ratio | 0.73 | 0.86 | 0.87 | 1.05 | 1.08 | 1.17 |
| Current Ratio | 2.21 | 2.50 | 2.50 | 2.36 | 2.29 | 2.18 |
| Return on Equity (ROE) | 14.15% | 11.31% | 9.59% | 11.23% | 10.74% | |
| Return on Assets (ROA) | 5.32% | 5.50% | 5.97% | 7.17% | 6.55% | |
| Return on Invested Capital (ROIC) | 11.48% | 7.93% | 8.25% | 9.13% | 11.30% | 12.45% |
| Return on Capital Employed (ROCE) | 15.20% | 10.20% | 9.70% | 11.30% | 13.80% | 12.10% |
| Earnings Yield | 6.13% | 1.67% | 1.65% | 3.27% | 3.41% | 3.99% |
| FCF Yield | 8.28% | 0.29% | 2.62% | -0.96% | 0.59% | -1.70% |
| Dividend Yield | 2.14% | 1.12% | 1.16% | 2.64% | 2.86% | 3.93% |
| Payout Ratio | 31.88% | 52.31% | 116.86% | 34.91% | 72.36% | |
| Buyback Yield / Dilution | -7.48% | -26.40% | -41.77% | |||
| Total Shareholder Return | -5.34% | 1.12% | 1.16% | 2.64% | -23.54% | -37.84% |