DSE : MALEKSPIN
Malek Spinning Mills PLC. — Financial statements
Textile Mill Products · Bangladesh
Last price 44.5 BDT (At close: Oct 28, 2026) · Market cap 8.62B
Latest research: Malek Spinning Mills financial analysis: garments earn 79% of group profit as the yarn spread narrows (Oct 2026) · Malek Spinning Mills: a 60,000-spindle mill whose garment subsidiary earns four-fifths of group profit; FY2026 EPS eased to BDT 6.93
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Financial statements
Malek Spinning Mills PLC. (MALEKSPIN) reported revenue of 22.82B 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 | 22.82B | 22.87B | 22.21B | 17.42B | 16.76B | 13.05B |
| Cost of Revenue | 20.61B | 20.23B | 19.57B | 16.87B | 15.11B | 11.74B |
| Gross Profit | 2.22B | 2.64B | 2.64B | 554.87M | 1.65B | 1.32B |
| Selling, General & Admin | 241.09M | 259.26M | 234.92M | 208.67M | 312.05M | 249.33M |
| Other Operating Expenses | -141.54M | -163.38M | -178.50M | -183.17M | -124.05M | -80.80M |
| Operating Expenses | 108.49M | 106.51M | 67.05M | 36.76M | 188.00M | 168.53M |
| Operating Income | 2.11B | 2.53B | 2.57B | 518.11M | 1.46B | 1.15B |
| Interest Expense | -755.42M | -774.63M | -733.94M | -447.70M | -346.02M | -369.64M |
| Interest & Investment Income | 120.17M | 120.15M | 120.57M | 2.04M | ||
| Currency Exchange Gain (Loss) | 1.21M | 1.18M | 23.62K | -10.81M | ||
| Other Non Operating Income (Expenses) | -146.84M | -149.38M | -160.23M | -35.18M | -1.00 | |
| EBT Excluding Unusual Items | 1.33B | 1.73B | 1.80B | 26.46M | 1.11B | 777.73M |
| Gain (Loss) on Sale of Assets | 1.00 | -10.39M | -2.57M | -48.79K | ||
| Other Unusual Items | -62.32M | -93.50M | ||||
| Pretax Income | 1.33B | 1.72B | 1.73B | 26.41M | 1.02B | 777.73M |
| Income Tax Expense | 224.34M | 279.40M | 299.70M | 254.28M | 157.39M | 100.88M |
| Earnings From Continuing Operations | 1.10B | 1.44B | 1.43B | -227.87M | 862.70M | 676.84M |
| Earnings From Discontinued Operations | -141.92M | -24.43M | ||||
| Net Income to Company | 1.10B | 1.44B | 1.43B | -227.87M | 720.78M | 652.41M |
| Minority Interest in Earnings | -1.08M | -3.36M | -2.94M | 7.88M | -68.58K | -1.27M |
| Net Income | 1.10B | 1.44B | 1.43B | -219.99M | 720.72M | 651.15M |
| Net Income to Common | 1.10B | 1.44B | 1.43B | -219.99M | 720.72M | 651.15M |
| Shares Outstanding (Basic) | 193.60M | 193.60M | 193.60M | 193.60M | 193.60M | 193.60M |
| Shares Outstanding (Diluted) | 193.60M | 193.60M | 193.60M | 193.60M | 193.60M | 193.60M |
| EPS (Basic) | 5.68 | 7.41 | 7.38 | -1.14 | 3.72 | 3.36 |
| EPS (Diluted) | 5.68 | 7.41 | 7.38 | -1.14 | 3.72 | 3.36 |
| Free Cash Flow | 395.40M | -906.00M | -1.00B | -535.61M | -881.27M | -272.41M |
| Free Cash Flow Per Share | 2.04 | -4.68 | -5.17 | -2.77 | -4.55 | -1.41 |
| Dividend Per Share | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Gross Margin | 9.71% | 11.54% | 11.88% | 3.19% | 9.83% | 10.08% |
| Operating Margin | 9.23% | 11.07% | 11.57% | 2.97% | 8.71% | 8.79% |
| Profit Margin | 4.82% | 6.28% | 6.44% | -1.26% | 4.30% | 4.99% |
| Free Cash Flow Margin | 1.73% | -3.96% | -4.50% | -3.07% | -5.26% | -2.09% |
| EBITDA | 2.73B | 3.11B | 3.06B | 1.03B | 2.00B | 1.63B |
| EBITDA Margin | 11.97% | 13.61% | 13.77% | 5.90% | 11.94% | 12.51% |
| D&A For EBITDA | 626.51M | 581.94M | 487.11M | 509.58M | 540.74M | 485.51M |
| EBIT | 2.11B | 2.53B | 2.57B | 518.11M | 1.46B | 1.15B |
| EBIT Margin | 9.23% | 11.07% | 11.57% | 2.97% | 8.71% | 8.79% |
| Effective Tax Rate | 16.92% | 16.26% | 17.30% | 962.64% | 15.43% | 12.97% |
| Advertising Expenses | 416.80K | 436.99K | 520.37K |
Balance sheet
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 961.46M | 1.12B | 1.85B | 682.31M | 939.88M | 1.10B |
| Cash & Short-Term Investments | 961.46M | 1.12B | 1.85B | 682.31M | 939.88M | 1.10B |
| Accounts Receivable | 3.55B | 3.34B | 4.55B | 3.95B | 4.12B | 3.58B |
| Other Receivables | 10.01M | 22.52M | 74.47M | 282.46M | 388.10M | 304.79M |
| Receivables | 3.56B | 3.36B | 4.62B | 4.23B | 4.51B | 3.88B |
| Inventory | 7.22B | 7.89B | 6.81B | 6.19B | 5.57B | 6.13B |
| Other Current Assets | 685.69M | 491.02M | 934.20M | 891.86M | 1.16B | 756.85M |
| Total Current Assets | 12.43B | 12.86B | 14.22B | 12.00B | 12.17B | 11.88B |
| Property, Plant & Equipment | 14.89B | 14.44B | 12.46B | 10.76B | 10.56B | 10.40B |
| Total Assets | 27.32B | 27.30B | 26.68B | 22.76B | 22.74B | 22.28B |
| Accounts Payable | 761.64M | 636.85M | 882.13M | 740.18M | 642.25M | |
| Accrued Expenses | 465.93M | 503.86M | 395.90M | 383.36M | 338.85M | |
| Short-Term Debt | 3.56B | 4.93B | 4.46B | 3.36B | 4.03B | 3.11B |
| Current Portion of Long-Term Debt | 1.36B | 1.22B | 1.06B | 946.80M | 822.03M | 678.03M |
| Current Portion of Leases | 42.07M | |||||
| Current Income Taxes Payable | 556.84M | 340.88M | 341.71M | 286.16M | 295.15M | |
| Other Current Liabilities | 3.93B | 3.74B | 4.13B | 3.91B | 4.01B | 6.10B |
| Total Current Liabilities | 10.64B | 11.37B | 11.27B | 9.63B | 10.13B | 9.93B |
| Long-Term Debt | 3.72B | 3.59B | 4.41B | 3.50B | 2.58B | 2.77B |
| Long-Term Leases | 78.13M | |||||
| Long-Term Deferred Tax Liabilities | 489.80M | 544.31M | 543.39M | 531.15M | 503.07M | 479.12M |
| Total Liabilities | 14.84B | 15.51B | 16.22B | 13.66B | 13.21B | 13.26B |
| Common Stock | 1.94B | 1.94B | 1.94B | 1.94B | 1.94B | 1.94B |
| Additional Paid-In Capital | 1.50B | 1.50B | 1.50B | 1.50B | 1.50B | 1.50B |
| Retained Earnings | 5.78B | 5.07B | 3.70B | 2.24B | 2.61B | 2.05B |
| Comprehensive Income & Other | 3.21B | 3.23B | 3.26B | 3.38B | 3.42B | 3.47B |
| Total Common Equity | 12.42B | 11.74B | 10.40B | 9.06B | 9.47B | 8.96B |
| Minority Interest | 53.34M | 54.02M | 50.66M | 47.72M | 55.60M | 55.53M |
| Shareholders' Equity | 12.47B | 11.79B | 10.46B | 9.10B | 9.52B | 9.01B |
| Total Liabilities & Equity | 27.32B | 27.30B | 26.68B | 22.76B | 22.74B | 22.28B |
| Total Debt | 8.63B | 9.74B | 9.93B | 7.80B | 7.42B | 6.68B |
| Net Cash (Debt) | -7.67B | -8.62B | -8.07B | -7.12B | -6.48B | -5.58B |
| Net Cash Per Share | -39.63 | -44.52 | -41.70 | -36.79 | -33.49 | -28.82 |
| Filing Date Shares Outstanding | 193.60M | 193.60M | 193.60M | 193.60M | 193.60M | 193.60M |
| Total Common Shares Outstanding | 193.60M | 193.60M | 193.60M | 193.60M | 193.60M | 193.60M |
| Working Capital | 1.79B | 1.49B | 2.95B | 2.37B | 2.04B | 1.94B |
| Book Value Per Share | 64.15 | 60.63 | 53.74 | 46.77 | 48.91 | 46.27 |
| Tangible Book Value | 12.42B | 11.74B | 10.40B | 9.06B | 9.47B | 8.96B |
| Tangible Book Value Per Share | 64.15 | 60.63 | 53.74 | 46.77 | 48.91 | 46.27 |
| Land | 4.98B | 4.97B | 4.85B | 4.75B | 4.64B | 4.01B |
| Buildings | 2.78B | 2.27B | 2.26B | 2.15B | 2.13B | 2.08B |
| Machinery | 11.81B | 11.23B | 10.36B | 9.68B | 9.26B | 9.42B |
| Construction In Progress | 2.51B | 2.67B | 1.18B | 287.96M | 132.67M | 133.49M |
Cash flow statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.10B | 1.44B | 1.43B | -219.99M | 720.72M | 651.15M |
| Depreciation & Amortization | 626.51M | 581.94M | 487.11M | 509.58M | 540.74M | 529.75M |
| Other Operating Activities | -80.85M | 12.14M | 302.03M | 33.46M | 23.96M | 37.29M |
| Change in Accounts Receivable | 594.55M | 1.21B | -597.06M | 167.60M | -540.76M | -972.51M |
| Change in Inventory | 206.79M | -1.07B | -703.78M | -355.46M | 290.10M | -1.67B |
| Change in Accounts Payable | 302.42M | -534.92M | 559.39M | 242.02M | -1.09B | 1.55B |
| Change in Other Net Operating Assets | 66.59M | -10.14M | 53.56M | 3.19M | 70.16M | 269.41M |
| Operating Cash Flow | 2.82B | 1.62B | 1.53B | 380.39M | 18.80M | 387.59M |
| Capital Expenditures | -2.42B | -2.53B | -2.53B | -916.01M | -900.08M | -660.00M |
| Sale of Property, Plant & Equipment | 339.40M | 459.48M | 49.62M | 800.00K | 96.20M | 4.77M |
| Other Investing Activities | -39.62M | 3.41M | 100.96M | 100.96M | ||
| Investing Cash Flow | -2.12B | -2.07B | -2.48B | -814.24M | -702.92M | -655.23M |
| Short-Term Debt Issued | 100.00M | 40.00M | ||||
| Long-Term Debt Issued | 2.08B | 406.84M | 748.61M | 780.95M | ||
| Total Debt Issued | 100.00M | 2.12B | 406.84M | 748.61M | 780.95M | |
| Short-Term Debt Repaid | -25.50M | -8.50M | ||||
| Long-Term Debt Repaid | -285.54M | |||||
| Total Debt Repaid | -404.04M | -285.54M | -25.50M | -8.50M | ||
| Net Debt Issued (Repaid) | -404.04M | -185.54M | 2.12B | 381.34M | 740.11M | 780.95M |
| Common Dividends Paid | -100.11M | -99.70M | -7.57K | -192.18M | -191.97M | -13.35K |
| Other Financing Activities | -1.44M | -2.47M | -27.02K | -1.76M | -48.17M | 1.13M |
| Financing Cash Flow | -505.58M | -287.70M | 2.12B | 187.40M | 499.97M | 782.07M |
| Foreign Exchange Rate Adjustments | -100.18K | -100.18K | -443.91K | -11.12M | 20.34M | |
| Miscellaneous Cash Flow Adjustments | 1.00 | 1.00 | 1.00 | |||
| Net Cash Flow | 189.49M | -730.91M | 1.17B | -257.57M | -163.81M | 514.43M |
| Free Cash Flow | 395.40M | -906.00M | -1.00B | -535.61M | -881.27M | -272.41M |
| Free Cash Flow Margin | 1.73% | -3.96% | -4.50% | -3.07% | -5.26% | -2.09% |
| Free Cash Flow Per Share | 2.04 | -4.68 | -5.17 | -2.77 | -4.55 | -1.41 |
| Levered Free Cash Flow | 787.29M | -751.77M | -1.51B | -414.78M | -937.32M | -379.29M |
| Unlevered Free Cash Flow | 1.26B | -267.63M | -1.05B | -134.97M | -721.05M | -148.26M |
| Cash Interest Paid | 819.68M | 802.42M | 743.58M | 479.66M | 427.12M | 443.64M |
| Cash Income Tax Paid | 308.85M | 301.23M | 257.35M | 232.00M | 145.96M | 90.84M |
| Change in Working Capital | 1.17B | -406.33M | -687.89M | 57.35M | -1.27B | -830.60M |
Ratios
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 8.44B | 4.47B | 6.04B | 5.25B | 5.61B | 6.04B |
| Enterprise Value | 16.17B | 12.79B | 11.71B | 9.87B | 10.98B | 12.09B |
| Last Close Price | 43.60 | 22.22 | 28.91 | 25.11 | 25.88 | 27.04 |
| PE Ratio | 7.67 | 3.12 | 4.23 | 7.79 | 9.28 | |
| PS Ratio | 0.37 | 0.20 | 0.27 | 0.30 | 0.34 | 0.46 |
| PB Ratio | 0.68 | 0.38 | 0.58 | 0.58 | 0.59 | 0.67 |
| P/TBV Ratio | 0.68 | 0.38 | 0.58 | 0.58 | 0.59 | 0.67 |
| P/OCF Ratio | 3.00 | 2.75 | 3.95 | 13.79 | 298.61 | 15.58 |
| EV/Sales Ratio | 0.71 | 0.56 | 0.53 | 0.57 | 0.66 | 0.93 |
| EV/EBITDA Ratio | 5.92 | 4.11 | 3.83 | 9.61 | 5.49 | 7.41 |
| EV/EBIT Ratio | 7.67 | 5.05 | 4.55 | 19.06 | 7.52 | 10.54 |
| Debt / Equity Ratio | 0.69 | 0.83 | 0.95 | 0.86 | 0.78 | 0.74 |
| Debt / EBITDA Ratio | 3.16 | 3.13 | 3.25 | 7.59 | 3.71 | 3.98 |
| Debt / FCF Ratio | 21.84 | |||||
| Net Debt / Equity Ratio | 0.61 | 0.73 | 0.77 | 0.78 | 0.68 | 0.62 |
| Net Debt / EBITDA Ratio | 2.81 | 2.77 | 2.64 | 6.93 | 3.24 | 3.42 |
| Net Debt / FCF Ratio | 19.41 | -9.51 | -8.07 | -13.30 | -7.36 | -20.48 |
| Asset Turnover | 0.85 | 0.85 | 0.90 | 0.77 | 0.74 | 0.63 |
| Inventory Turnover | 2.80 | 2.75 | 3.01 | 2.87 | 2.58 | 2.20 |
| Quick Ratio | 0.42 | 0.39 | 0.57 | 0.51 | 0.54 | 0.50 |
| Current Ratio | 1.17 | 1.13 | 1.26 | 1.25 | 1.20 | 1.20 |
| Return on Equity (ROE) | 9.20% | 12.93% | 14.65% | -2.45% | 9.31% | 7.79% |
| Return on Assets (ROA) | 4.91% | 5.86% | 6.50% | 1.42% | 4.05% | 3.48% |
| Return on Invested Capital (ROIC) | 8.68% | 10.89% | 12.23% | -27.73% | 8.07% | 7.07% |
| Return on Capital Employed (ROCE) | 12.60% | 15.90% | 16.70% | 3.90% | 11.60% | 9.30% |
| Earnings Yield | 13.03% | 32.10% | 23.66% | -4.19% | 12.84% | 10.78% |
| FCF Yield | 4.68% | -20.26% | -16.56% | -10.21% | -15.70% | -4.51% |
| Dividend Yield | 2.29% | 4.33% | 3.21% | 3.45% | 3.21% | |
| Payout Ratio | 9.10% | 6.95% | 0.00% | 26.64% | 0.00% | |
| Total Shareholder Return | 2.29% | 4.33% | 3.21% | 3.45% | 3.21% |