Company · Initiation · 29 Oct 2026
Meghna Petroleum: fair value range BDT 236-401, as interest earns 78% of profit and BDT 5.5bn sits in stressed banks
Fair value BDT 236-401 (base 313) vs price 211.5: BDT 222 from the fuel franchise and float, BDT 188 from own cash after a 30% haircut on stressed FDRs and a trapped-cash discount.
Meghna Petroleum is a fuel distributor whose profit is mostly interest. In FY2025 interest on cash and fixed deposits was BDT 6.9bn, 78% of profit before WPPF; the fuel business itself earned BDT 1.9bn.
Fair value ৳236–401 · price ৳211.50 (2026-10-29)