Board Change • May 20
Insufficient new 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. 3 highly experienced directors. Independent Director Md. Hossain was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • May 28
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended March 2023. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported March 2023 fiscal period end). Interest payments are not well covered by earnings (0.6x net interest cover). Share price has been highly volatile over the past 3 months (9.7% average weekly change). Revenue has declined by 20% over the past year. Minor Risk Market cap is less than US$100m (৳3.77b market cap, or US$32.1m). New Risk • Mar 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Bangladeshi stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Share price has been highly volatile over the past 3 months (9.3% average weekly change). Earnings have declined by 59% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Market cap is less than US$100m (৳4.63b market cap, or US$42.2m). New Risk • Dec 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Earnings have declined by 59% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Market cap is less than US$100m (৳4.63b market cap, or US$42.2m). Board Change • Nov 01
Insufficient new 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. 3 highly experienced directors. Independent Director Md. Hossain was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. お知らせ • May 23
Active Fine Chemicals Limited to Report Q3, 2024 Results on May 25, 2023 Active Fine Chemicals Limited announced that they will report Q3, 2024 results on May 25, 2023 Reported Earnings • Feb 08
Second quarter 2023 earnings released: ৳0.01 loss per share (vs ৳0.059 loss in 2Q 2022) Second quarter 2023 results: ৳0.01 loss per share (improved from ৳0.059 loss in 2Q 2022). Revenue: ৳242.8m (down 31% from 2Q 2022). Net loss: ৳3.52m (loss narrowed 75% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Dec 17
Full year 2022 earnings released: EPS: ৳0.11 (vs ৳0.16 in FY 2021) Full year 2022 results: EPS: ৳0.11 (down from ৳0.16 in FY 2021). Revenue: ৳1.67b (down 8.2% from FY 2021). Net income: ৳25.9m (down 32% from FY 2021). Profit margin: 1.5% (down from 2.1% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Nov 16
Upcoming dividend of ৳0.025 per share Eligible shareholders must have bought the stock before 20 November 2022. Payment date: 29 January 2023. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 0.1%. Lower than top quartile of Bangladeshi dividend payers (3.8%). Lower than average of industry peers (2.5%). お知らせ • Nov 01
Active Fine Chemicals Limited Has Recommends Cash Dividend for the Year Ended on June 30, 2022 The Board of Directors of Active Fine Chemicals Limited has recommended 0.25% Cash dividend (other than Sponsors and Directors) for the year ended on June 30, 2022. Reported Earnings • May 28
Third quarter 2022 earnings released: EPS: ৳0.04 (vs ৳0.024 in 3Q 2021) Third quarter 2022 results: EPS: ৳0.04 (up from ৳0.024 in 3Q 2021). Revenue: ৳381.6m (down 25% from 3Q 2021). Net income: ৳9.67m (up 65% from 3Q 2021). Profit margin: 2.5% (up from 1.1% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 06
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: ৳0.059 loss per share (down from ৳0.12 profit in 2Q 2021). Revenue: ৳350.8m (down 6.8% from 2Q 2021). Net loss: ৳14.1m (down 150% from profit in 2Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 17% share price gain to ৳30.00, the stock trades at a trailing P/E ratio of 76.5x. Average trailing P/E is 23x in the Pharmaceuticals industry in Bangladesh. Total loss to shareholders of 4.7% over the past three years. Reported Earnings • Dec 04
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ৳0.16 (up from ৳0.23 loss in FY 2020). Revenue: ৳1.82b (up 39% from FY 2020). Net income: ৳38.3m (up ৳94.3m from FY 2020). Profit margin: 2.1% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Nov 22
Upcoming dividend of ৳0.05 per share Eligible shareholders must have bought the stock before 29 November 2021. Payment date: 23 January 2022. Trailing yield: 0.2%. Lower than top quartile of Bangladeshi dividend payers (2.9%). Lower than average of industry peers (1.7%). Reported Earnings • Jun 24
Third quarter 2021 earnings released: EPS ৳0.024 (vs ৳0.19 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ৳510.4m (up 55% from 3Q 2020). Net income: ৳5.86m (down 87% from 3Q 2020). Profit margin: 1.1% (down from 14% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Dec 28
New 90-day high: ৳16.90 The company is up 1.0% from its price of ৳16.80 on 29 September 2020. The Bangladeshi market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 10.0% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: ৳13.90 The company is down 1.0% from its price of ৳14.00 on 30 July 2020. The Bangladeshi market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 11% over the same period.