DSE : NFML
National Feed Mill Limited — Financial statements
Grain Mill Products · Bangladesh
Last price 12.8 BDT (At close: Oct 28, 2026) · Market cap 1.20B
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Financial statements
National Feed Mill Limited (NFML) reported revenue of 117.64M 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 | 117.64M | 141.44M | 324.80M | 576.62M | 645.63M | 1.21B |
| Cost of Revenue | 89.60M | 115.89M | 310.55M | 507.37M | 576.49M | 1.03B |
| Gross Profit | 28.05M | 25.55M | 14.26M | 69.26M | 69.14M | 182.04M |
| Selling, General & Admin | 8.79M | 8.86M | 19.95M | 20.29M | 18.22M | 22.43M |
| Operating Expenses | 8.79M | 8.86M | 19.95M | 20.29M | 18.22M | 118.06M |
| Operating Income | 19.26M | 16.68M | -5.69M | 48.97M | 50.92M | 63.98M |
| Interest Expense | -18.53M | -24.47M | -60.72M | -45.34M | -47.78M | -44.15M |
| Interest & Investment Income | 893.00 | 1.98K | 335.25K | 32.09K | ||
| Other Non Operating Income (Expenses) | -75.77K | -56.25K | -306.75K | -295.48K | -423.87K | -267.77K |
| EBT Excluding Unusual Items | 650.31K | -7.84M | -66.72M | 3.34M | 3.05M | 19.59M |
| Gain (Loss) on Sale of Investments | 6.89M | -88.94K | ||||
| Pretax Income | 650.31K | -7.84M | -66.72M | 3.34M | 9.94M | 19.50M |
| Income Tax Expense | -904.53K | -10.20M | -155.59K | 1.46M | 2.28M | 2.70M |
| Net Income | 1.55M | 2.35M | -66.56M | 1.87M | 7.66M | 16.80M |
| Net Income to Common | 1.55M | 2.35M | -66.56M | 1.87M | 7.66M | 16.80M |
| Shares Outstanding (Basic) | 93.36M | 93.36M | 93.36M | 93.36M | 93.36M | 93.36M |
| Shares Outstanding (Diluted) | 93.36M | 93.36M | 93.36M | 93.36M | 93.36M | 93.36M |
| EPS (Basic) | 0.02 | 0.03 | -0.71 | 0.02 | 0.08 | 0.18 |
| EPS (Diluted) | 0.02 | 0.03 | -0.71 | 0.02 | 0.08 | 0.18 |
| Free Cash Flow | 7.21M | 10.78M | 10.66M | 24.69M | 3.63M | 35.44M |
| Free Cash Flow Per Share | 0.08 | 0.12 | 0.11 | 0.26 | 0.04 | 0.38 |
| Dividend Per Share | 0.01 | 0.01 | 0.10 | 0.10 | ||
| Gross Margin | 23.84% | 18.06% | 4.39% | 12.01% | 10.71% | 15.07% |
| Operating Margin | 16.37% | 11.80% | -1.75% | 8.49% | 7.89% | 5.30% |
| Profit Margin | 1.32% | 1.66% | -20.49% | 0.33% | 1.19% | 1.39% |
| Free Cash Flow Margin | 6.12% | 7.62% | 3.28% | 4.28% | 0.56% | 2.94% |
| EBITDA | 26.13M | 23.53M | 6.87M | 62.86M | 66.16M | 80.50M |
| EBITDA Margin | 22.21% | 16.63% | 2.11% | 10.90% | 10.25% | 6.67% |
| D&A For EBITDA | 6.88M | 6.84M | 12.56M | 13.89M | 15.25M | 16.52M |
| EBIT | 19.26M | 16.68M | -5.69M | 48.97M | 50.92M | 63.98M |
| EBIT Margin | 16.37% | 11.80% | -1.75% | 8.49% | 7.89% | 5.30% |
| Effective Tax Rate | 43.84% | 22.98% | 13.84% | |||
| Advertising Expenses | 11.30K | 311.75K | 1.18M | 914.88K | 1.37M |
Balance sheet
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 9.45M | 5.17M | 1.87M | 2.66M | 3.65M | 9.89M |
| Cash & Short-Term Investments | 9.45M | 5.17M | 1.87M | 2.66M | 3.65M | 9.89M |
| Accounts Receivable | 895.65M | 876.46M | 871.02M | 885.74M | 825.75M | 775.36M |
| Other Receivables | 1.46M | 3.16M | ||||
| Receivables | 895.65M | 876.46M | 871.02M | 885.74M | 827.21M | 778.51M |
| Inventory | 552.62M | 577.77M | 590.96M | 599.11M | 624.67M | 633.90M |
| Other Current Assets | 22.18M | 15.52M | 13.47M | 13.10M | 13.87M | 15.51M |
| Total Current Assets | 1.48B | 1.47B | 1.48B | 1.50B | 1.47B | 1.44B |
| Property, Plant & Equipment | 283.08M | 289.44M | 295.81M | 307.78M | 319.05M | 329.77M |
| Long-Term Investments | 10.21M | |||||
| Other Long-Term Assets | -1.00 | |||||
| Total Assets | 1.76B | 1.76B | 1.77B | 1.81B | 1.79B | 1.78B |
| Accounts Payable | 4.10M | 8.42M | 24.77M | 40.43M | 42.54M | 48.99M |
| Accrued Expenses | 33.17M | 33.81M | 32.71M | 31.72M | 30.76M | 30.01M |
| Current Portion of Long-Term Debt | 300.42M | 266.88M | 258.94M | 237.11M | 174.10M | 215.60M |
| Current Income Taxes Payable | 29.54M | 29.20M | 30.50M | 32.89M | 33.20M | 41.57M |
| Other Current Liabilities | 315.04K | 315.04K | 315.04K | 315.04K | 170.07K | 3.24M |
| Total Current Liabilities | 367.54M | 338.63M | 347.23M | 342.46M | 280.77M | 339.40M |
| Long-Term Debt | 365.41M | 385.27M | 376.16M | 348.42M | 385.13M | 322.41M |
| Long-Term Deferred Tax Liabilities | 4.68M | 4.68M | 16.30M | 17.52M | 17.94M | 18.58M |
| Other Long-Term Liabilities | 1.00 | -1.00 | ||||
| Total Liabilities | 737.63M | 728.58M | 739.69M | 708.40M | 683.83M | 680.38M |
| Common Stock | 933.61M | 933.61M | 933.61M | 933.61M | 933.61M | 924.37M |
| Retained Earnings | 91.73M | 102.17M | 99.82M | 166.38M | 171.00M | 172.59M |
| Comprehensive Income & Other | 457.78K | |||||
| Shareholders' Equity | 1.03B | 1.04B | 1.03B | 1.10B | 1.10B | 1.10B |
| Total Liabilities & Equity | 1.76B | 1.76B | 1.77B | 1.81B | 1.79B | 1.78B |
| Total Debt | 665.83M | 652.15M | 635.10M | 585.53M | 559.22M | 538.01M |
| Net Cash (Debt) | -656.37M | -646.98M | -633.24M | -582.87M | -555.57M | -517.91M |
| Net Cash Per Share | -7.03 | -6.93 | -6.78 | -6.24 | -5.95 | -5.55 |
| Filing Date Shares Outstanding | 93.17M | 93.36M | 93.36M | 93.36M | 93.36M | 93.36M |
| Total Common Shares Outstanding | 93.17M | 93.36M | 93.36M | 93.36M | 93.36M | 93.36M |
| Working Capital | 1.11B | 1.14B | 1.13B | 1.16B | 1.19B | 1.10B |
| Book Value Per Share | 11.01 | 11.09 | 11.07 | 11.78 | 11.83 | 11.75 |
| Tangible Book Value | 1.03B | 1.04B | 1.03B | 1.10B | 1.10B | 1.10B |
| Tangible Book Value Per Share | 11.01 | 11.09 | 11.07 | 11.78 | 11.83 | 11.75 |
| Land | 135.45M | 135.45M | 135.45M | 135.45M | 135.45M | 135.45M |
| Buildings | 162.32M | 162.32M | 162.32M | 162.27M | 162.07M | 161.01M |
| Machinery | 275.60M | 275.60M | 275.60M | 275.60M | 275.04M | 272.54M |
| Construction In Progress | 12.28M | 12.28M | 11.81M | 11.27M | 9.40M | 8.44M |
Cash flow statement
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.55M | 2.35M | -66.56M | 1.87M | 7.66M | 16.80M |
| Depreciation & Amortization | 6.88M | 6.84M | 12.56M | 13.89M | 15.25M | 16.52M |
| Other Operating Activities | 24.58M | 11.62M | 57.42M | 45.06M | 57.83M | 140.25M |
| Change in Accounts Receivable | -39.39M | -5.45M | 14.72M | -58.54M | -48.90M | -131.06M |
| Change in Inventory | 29.89M | 12.78M | 17.26M | 2.64M | -1.00M | -11.43M |
| Change in Accounts Payable | -16.42M | -16.34M | -15.67M | -2.11M | -6.45M | 2.77M |
| Change in Other Net Operating Assets | -2.11M | -550.50K | -8.49M | 24.49M | -16.22M | 14.23M |
| Operating Cash Flow | 7.63M | 11.26M | 11.25M | 27.31M | 8.16M | 48.08M |
| Capital Expenditures | -429.44K | -473.44K | -587.75K | -2.62M | -4.53M | -12.64M |
| Investment in Securities | 9.91M | -10.00M | ||||
| Other Investing Activities | 7.20M | |||||
| Investing Cash Flow | -429.44K | -473.44K | -587.75K | -2.62M | 12.59M | -22.64M |
| Long-Term Debt Issued | 17.04M | 49.58M | 26.31M | 21.22M | 334.18M | |
| Total Debt Issued | 14.43M | 17.04M | 49.58M | 26.31M | 21.22M | 334.18M |
| Short-Term Debt Repaid | -299.23M | |||||
| Total Debt Repaid | -299.23M | |||||
| Net Debt Issued (Repaid) | 14.43M | 17.04M | 49.58M | 26.31M | 21.22M | 34.94M |
| Common Dividends Paid | -6.35M | -11.74M | ||||
| Other Financing Activities | -18.61M | -24.53M | -61.03M | -45.63M | -48.20M | -44.42M |
| Financing Cash Flow | -4.18M | -7.49M | -11.45M | -25.68M | -26.98M | -21.22M |
| Net Cash Flow | 3.03M | 3.30M | -790.19K | -988.93K | -6.24M | 4.22M |
| Free Cash Flow | 7.21M | 10.78M | 10.66M | 24.69M | 3.63M | 35.44M |
| Free Cash Flow Margin | 6.12% | 7.62% | 3.28% | 4.28% | 0.56% | 2.94% |
| Free Cash Flow Per Share | 0.08 | 0.12 | 0.11 | 0.26 | 0.04 | 0.38 |
| Levered Free Cash Flow | -7.66M | -9.35M | -24.09M | -19.98M | -42.27M | -12.79M |
| Unlevered Free Cash Flow | 3.92M | 5.94M | 13.86M | 8.36M | -12.41M | 14.80M |
| Cash Interest Paid | 18.55M | 24.47M | 60.72M | 45.34M | 47.78M | 44.15M |
| Cash Income Tax Paid | 59.83K | 2.71M | 3.64M | 2.35M | 11.51M | 3.69M |
| Change in Working Capital | -25.38M | -9.56M | 7.83M | -33.52M | -72.57M | -125.49M |
Ratios
Fiscal year July - June; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.20B | 961.62M | 1.29B | 1.67B | 1.71B | 3.61B |
| Enterprise Value | 1.86B | 1.61B | 1.89B | 2.24B | 2.25B | 4.12B |
| Last Close Price | 12.90 | 10.29 | 13.79 | 17.89 | 18.18 | 38.36 |
| PE Ratio | 774.64 | 408.46 | 891.38 | 223.14 | 214.53 | |
| PS Ratio | 10.24 | 6.80 | 3.97 | 2.90 | 2.65 | 2.98 |
| PB Ratio | 1.17 | 0.93 | 1.25 | 1.52 | 1.55 | 3.29 |
| P/TBV Ratio | 1.17 | 0.93 | 1.25 | 1.52 | 1.55 | 3.29 |
| P/FCF Ratio | 167.15 | 89.17 | 120.83 | 67.69 | 470.43 | 101.72 |
| P/OCF Ratio | 157.75 | 85.42 | 114.52 | 61.19 | 209.44 | 74.97 |
| EV/Sales Ratio | 15.82 | 11.41 | 5.83 | 3.89 | 3.49 | 3.41 |
| EV/EBITDA Ratio | 71.20 | 68.58 | 275.79 | 35.70 | 34.04 | 51.20 |
| EV/EBIT Ratio | 96.63 | 96.70 | 45.83 | 44.23 | 64.42 | |
| EV/FCF Ratio | 258.25 | 149.62 | 177.64 | 90.90 | 620.09 | 116.30 |
| Debt / Equity Ratio | 0.65 | 0.63 | 0.61 | 0.53 | 0.51 | 0.49 |
| Debt / EBITDA Ratio | 25.48 | 27.72 | 92.48 | 9.31 | 8.45 | 6.68 |
| Debt / FCF Ratio | 92.41 | 60.48 | 59.56 | 23.71 | 153.98 | 15.18 |
| Net Debt / Equity Ratio | 0.64 | 0.62 | 0.61 | 0.53 | 0.50 | 0.47 |
| Net Debt / EBITDA Ratio | 25.11 | 27.50 | 92.20 | 9.27 | 8.40 | 6.43 |
| Net Debt / FCF Ratio | 91.10 | 59.99 | 59.39 | 23.61 | 152.97 | 14.61 |
| Asset Turnover | 0.07 | 0.08 | 0.18 | 0.32 | 0.36 | 0.69 |
| Inventory Turnover | 0.16 | 0.20 | 0.52 | 0.83 | 0.92 | 1.61 |
| Quick Ratio | 2.46 | 2.60 | 2.51 | 2.59 | 2.96 | 2.32 |
| Current Ratio | 4.03 | 4.36 | 4.25 | 4.38 | 5.23 | 4.24 |
| Return on Equity (ROE) | 0.15% | 0.23% | -6.24% | 0.17% | 0.69% | 1.54% |
| Return on Assets (ROA) | 0.68% | 0.59% | -0.20% | 1.70% | 1.79% | 2.27% |
| Return on Invested Capital (ROIC) | 1.15% | 1.00% | -0.34% | 1.65% | 2.39% | 3.43% |
| Return on Capital Employed (ROCE) | 1.40% | 1.20% | -0.40% | 3.30% | 3.40% | 4.40% |
| Earnings Yield | 0.13% | 0.24% | -5.17% | 0.11% | 0.45% | 0.47% |
| FCF Yield | 0.60% | 1.12% | 0.83% | 1.48% | 0.21% | 0.98% |
| Dividend Yield | 0.08% | 0.10% | 0.55% | 0.26% | ||
| Payout Ratio | 60.05% | 338.86% | 69.89% | |||
| Buyback Yield / Dilution | 0.00% | |||||
| Total Shareholder Return | 0.08% | 0.10% | 0.55% | 0.26% |