Board Change • May 20
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. No independent directors (4 non-independent directors). Chairman of the Board Alihussain Akberali was the last director to join the board, commencing their role in 1980. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Annuncio • Apr 23
BSRM Steels Limited to Report Q3, 2026 Results on Apr 29, 2026 BSRM Steels Limited announced that they will report Q3, 2026 results on Apr 29, 2026 Annuncio • Jan 19
BSRM Steels Limited to Report Q2, 2026 Results on Jan 24, 2026 BSRM Steels Limited announced that they will report Q2, 2026 results on Jan 24, 2026 Annuncio • Nov 09
BSRM Steels Limited to Report Q1, 2026 Results on Nov 13, 2025 BSRM Steels Limited announced that they will report Q1, 2026 results on Nov 13, 2025 Annuncio • Oct 09
BSRM Steels Limited to Report Fiscal Year 2025 Results on Oct 18, 2025 BSRM Steels Limited announced that they will report fiscal year 2025 results on Oct 18, 2025 Annuncio • Apr 21
BSRM Steels Limited to Report Q3, 2025 Results on Apr 28, 2025 BSRM Steels Limited announced that they will report Q3, 2025 results on Apr 28, 2025 Annuncio • Jan 26
BSRM Steels Limited to Report Q2, 2025 Results on Jan 30, 2025 BSRM Steels Limited announced that they will report Q2, 2025 results on Jan 30, 2025 Upcoming Dividend • Nov 10
Upcoming dividend of ৳3.20 per share Eligible shareholders must have bought the stock before 17 November 2024. Payment date: 13 January 2025. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 6.0%. Within top quartile of Bangladeshi dividend payers (4.5%). Higher than average of industry peers (4.6%). Annuncio • Nov 06
BSRM Steels Limited to Report Q1, 2025 Results on Nov 12, 2024 BSRM Steels Limited announced that they will report Q1, 2025 results on Nov 12, 2024 Reported Earnings • Oct 25
Full year 2024 earnings released: EPS: ৳10.10 (vs ৳7.93 in FY 2023) Full year 2024 results: EPS: ৳10.10 (up from ৳7.93 in FY 2023). Revenue: ৳82.7b (down 2.2% from FY 2023). Net income: ৳3.80b (up 27% from FY 2023). Profit margin: 4.6% (up from 3.5% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Declared Dividend • Oct 25
Dividend of ৳3.20 announced Shareholders will receive a dividend of ৳3.20. Ex-date: 17th November 2024 Payment date: 13th January 2025 Dividend yield will be 5.9%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annuncio • Oct 23
BSRM Steels Limited, Annual General Meeting, Dec 14, 2024 BSRM Steels Limited, Annual General Meeting, Dec 14, 2024, at 10:30 Central Asia Standard Time. Annuncio • Oct 14
BSRM Steels Limited to Report Q4, 2024 Results on Oct 22, 2024 BSRM Steels Limited announced that they will report Q4, 2024 results on Oct 22, 2024 Reported Earnings • May 02
Third quarter 2024 earnings released: EPS: ৳3.32 (vs ৳2.98 in 3Q 2023) Third quarter 2024 results: EPS: ৳3.32 (up from ৳2.98 in 3Q 2023). Revenue: ৳27.5b (flat on 3Q 2023). Net income: ৳1.25b (up 11% from 3Q 2023). Profit margin: 4.5% (up from 4.1% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 6% per year. Annuncio • Apr 26
BSRM Steels Limited to Report Q3, 2024 Results on Apr 29, 2024 BSRM Steels Limited announced that they will report Q3, 2024 results on Apr 29, 2024 Reported Earnings • Feb 01
Second quarter 2024 earnings released: EPS: ৳2.90 (vs ৳1.17 in 2Q 2023) Second quarter 2024 results: EPS: ৳2.90 (up from ৳1.17 in 2Q 2023). Revenue: ৳21.5b (up 6.5% from 2Q 2023). Net income: ৳1.09b (up 149% from 2Q 2023). Profit margin: 5.1% (up from 2.2% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 8% per year. Annuncio • Jan 25
BSRM Steels Limited to Report Q2, 2023 Results on Jan 29, 2024 BSRM Steels Limited announced that they will report Q2, 2023 results at 4:00 PM, Bangladesh Standard Time on Jan 29, 2024 Annuncio • Nov 07
BSRM Steels Limited to Report Q1, 2024 Results on Nov 12, 2023 BSRM Steels Limited announced that they will report Q1, 2024 results on Nov 12, 2023 Upcoming Dividend • Nov 02
Upcoming dividend of ৳2.50 per share at 3.9% yield Eligible shareholders must have bought the stock before 09 November 2023. Payment date: 28 January 2024. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of Bangladeshi dividend payers (3.4%). Higher than average of industry peers (2.4%). New Risk • Oct 18
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.1x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.1x net interest cover). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Annuncio • Oct 17
BSRM Steels Limited, Annual General Meeting, Dec 28, 2023 BSRM Steels Limited, Annual General Meeting, Dec 28, 2023, at 04:00 Coordinated Universal Time. Agenda: To consider Cash Dividend for the year ended June 30, 2023. Annuncio • Oct 16
BSRM Steels Limited Recommends Cash Dividend for the Year Ended June 30, 2023 The Board of Directors of BSRM Steels Limited has recommended 25% Cash Dividend for the year ended June 30, 2023. Annuncio • Oct 06
BSRM Steels Limited to Report Fiscal Year 2023 Results on Oct 12, 2023 BSRM Steels Limited announced that they will report fiscal year 2023 results on Oct 12, 2023 Reported Earnings • Apr 20
Third quarter 2023 earnings released: EPS: ৳2.98 (vs ৳2.74 in 3Q 2022) Third quarter 2023 results: EPS: ৳2.98 (up from ৳2.74 in 3Q 2022). Revenue: ৳27.6b (up 28% from 3Q 2022). Net income: ৳1.12b (up 9.0% from 3Q 2022). Profit margin: 4.1% (down from 4.8% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 14
Second quarter 2023 earnings released: EPS: ৳1.17 (vs ৳2.46 in 2Q 2022) Second quarter 2023 results: EPS: ৳1.17 (down from ৳2.46 in 2Q 2022). Revenue: ৳20.2b (up 29% from 2Q 2022). Net income: ৳438.0m (down 53% from 2Q 2022). Profit margin: 2.2% (down from 5.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • Dec 20
First quarter 2023 earnings released: ৳0.93 loss per share (vs ৳2.89 profit in 1Q 2022) First quarter 2023 results: ৳0.93 loss per share (down from ৳2.89 profit in 1Q 2022). Revenue: ৳16.8b (up 28% from 1Q 2022). Net loss: ৳348.0m (down 132% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Nov 17
Upcoming dividend of ৳3.00 per share Eligible shareholders must have bought the stock before 24 November 2022. Payment date: 29 January 2023. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of Bangladeshi dividend payers (3.8%). Higher than average of industry peers (2.9%). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Mono Dey was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annuncio • Oct 31
BSRM Steels Limited Recommends Cash Dividend for the Year Ended on June 30, 2022 BSRM Steels Limited announced that the Board of Directors has recommended 30% cash dividend for the year ended June 30, 2022. Reported Earnings • Jun 24
Third quarter 2022 earnings released: EPS: ৳2.74 (vs ৳3.68 in 3Q 2021) Third quarter 2022 results: EPS: ৳2.74 (down from ৳3.68 in 3Q 2021). Revenue: ৳21.5b (up 30% from 3Q 2021). Net income: ৳1.03b (down 26% from 3Q 2021). Profit margin: 4.8% (down from 8.3% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Mono Dey was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Nov 14
Upcoming dividend of ৳3.00 per share Eligible shareholders must have bought the stock before 21 November 2021. Payment date: 23 January 2022. Trailing yield: 5.9%. Within top quartile of Bangladeshi dividend payers (3.0%). Higher than average of industry peers (3.8%). Reported Earnings • Oct 31
Full year 2021 earnings released: EPS ৳8.10 (vs ৳1.97 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ৳55.0b (up 42% from FY 2020). Net income: ৳3.05b (up 311% from FY 2020). Profit margin: 5.5% (up from 1.9% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 3% per year. Reported Earnings • Jun 17
Third quarter 2021 earnings released: EPS ৳3.68 (vs ৳1.46 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ৳16.6b (up 32% from 3Q 2020). Net income: ৳1.38b (up 152% from 3Q 2020). Profit margin: 8.3% (up from 4.4% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • Feb 01
Second quarter 2021 earnings released: EPS ৳2.25 (vs ৳0.07 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ৳14.8b (up 23% from 2Q 2020). Net income: ৳844.5m (up ৳818.6m from 2Q 2020). Profit margin: 5.7% (up from 0.2% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 8% per year. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 22% share price gain to ৳54.50, the stock is trading at a trailing P/E ratio of 21.4x, up from the previous P/E ratio of 17.6x. This compares to an average P/E of 39x in the Metals and Mining industry in Bangladesh. Total return to shareholders over the past three years is a loss of 14%. Is New 90 Day High Low • Dec 28
New 90-day high: ৳43.80 The company is up 6.0% from its price of ৳41.30 on 29 September 2020. The Bangladeshi market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 3.0% over the same period. Reported Earnings • Nov 16
First quarter 2021 earnings released: EPS ৳0.95 The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ৳9.35b (up 13% from 1Q 2020). Net income: ৳358.0m (up 152% from 1Q 2020). Profit margin: 3.8% (up from 1.7% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Annuncio • Nov 10
BSRM Steels Limited to Report Q1, 2021 Results on Nov 12, 2020 BSRM Steels Limited announced that they will report Q1, 2021 results on Nov 12, 2020 Reported Earnings • Oct 27
Full year earnings released Over the last 12 months the company has reported total profits of ৳742.3m, down 57% from the prior year. Total revenue was ৳38.7b over the last 12 months, down 37% from the prior year. Profit margins were 1.9%, which is lower than the 2.8% margin from last year. The decrease in margin was driven by lower revenue. Annuncio • Oct 10
BSRM Steels Limited to Report Fiscal Year 2020 Results on Oct 15, 2020 BSRM Steels Limited announced that they will report fiscal year 2020 results on Oct 15, 2020 Annuncio • Jun 19
BSRM Steels Limited to Report Q3, 2020 Results on Jun 25, 2020 BSRM Steels Limited announced that they will report Q3, 2020 results on Jun 25, 2020