Board Change • May 20
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. 10 experienced directors. No highly experienced directors. 2 independent directors (8 non-independent directors). GM of F&B, CFO and Independent Director Md. Islam was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 공시 • Sep 11
Prime Textile Spinning Mills Limited, Annual General Meeting, Oct 24, 2024 Prime Textile Spinning Mills Limited, Annual General Meeting, Oct 24, 2024, at 11:00 Central Asia Standard Time. 공시 • Sep 03
Prime Textile Spinning Mills Limited to Report Fiscal Year 2023 Results on Sep 10, 2024 Prime Textile Spinning Mills Limited announced that they will report fiscal year 2023 results on Sep 10, 2024 New Risk • Apr 24
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 8.7% 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 Latest financial reports are more than 1 year old (reported June 2022 fiscal period end). Share price has been highly volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$10m (৳641.8m market cap, or US$5.86m). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Feb 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Bangladeshi stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2022 fiscal period end). Market cap is less than US$10m (৳871.0m market cap, or US$7.94m). Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). New Risk • Jan 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ৳1.00b (US$9.16m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2022 fiscal period end). Market cap is less than US$10m (৳1.00b market cap, or US$9.16m). New Risk • Dec 24
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2022. 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 June 2022 fiscal period end). Interest payments are not well covered by earnings (1.2x net interest cover). Revenue has declined by 26% over the past year. Minor Risk Market cap is less than US$100m (৳1.12b market cap, or US$10.2m). New Risk • Jun 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2022. 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 (1.2x net interest cover). Earnings have declined by 14% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2022 fiscal period end). Market cap is less than US$100m (৳1.12b market cap, or US$10.3m). Reported Earnings • Dec 27
Full year 2022 earnings released: EPS: ৳0.43 (vs ৳0.62 in FY 2021) Full year 2022 results: EPS: ৳0.43 (down from ৳0.62 in FY 2021). Revenue: ৳1.53b (down 26% from FY 2021). Net income: ৳16.3m (down 31% from FY 2021). Profit margin: 1.1% (down from 1.2% in FY 2021). The decrease in margin was driven by lower revenue. 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 21% per year, which means it is significantly lagging earnings growth. 공시 • Dec 06
Prime Textile Spinning Mills Limited Appoints Fatema Khatun as Chairman Prime Textile Spinning Mills Limited has informed that the Board of Directors has approved appointment of Mst. Fatema Khatun as Chairman of the Board of Directors with immediate effect. Upcoming Dividend • Nov 20
Upcoming dividend of ৳0.20 per share Eligible shareholders must have bought the stock before 27 November 2022. Payment date: 30 January 2023. Payout ratio is a comfortable 6.2% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Bangladeshi dividend payers (3.8%). Lower than average of industry peers (2.7%). 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. 9 experienced directors. No highly experienced directors. 1 independent director (8 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 공시 • Nov 02
Prime Textile Spinning Mills Limited Recommends Cash Dividend for the Year Ended June 30, 2022 The board of directors of Prime Textile Spinning Mills Limited recommended 2% cash dividend for the year ended June 30, 2022. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improved over the past week After last week's 16% share price gain to ৳42.50, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 23x in the Luxury industry in Bangladesh. Total returns to shareholders of 50% over the past three years. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improved over the past week After last week's 17% share price gain to ৳32.60, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 23x in the Luxury industry in Bangladesh. Total loss to shareholders of 1.4% over the past three years. Reported Earnings • May 29
Third quarter 2022 earnings released: EPS: ৳0.18 (vs ৳0.39 loss in 3Q 2021) Third quarter 2022 results: EPS: ৳0.18 (up from ৳0.39 loss in 3Q 2021). Revenue: ৳353.7m (down 29% from 3Q 2021). Net income: ৳6.79m (up ৳21.7m from 3Q 2021). Profit margin: 1.9% (up from net loss in 3Q 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. 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. 9 experienced directors. No highly experienced directors. 1 independent director (8 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 02
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: ৳0.16 (up from ৳0.77 loss in 2Q 2021). Revenue: ৳447.9m (down 9.8% from 2Q 2021). Net income: ৳6.26m (up ৳35.6m from 2Q 2021). Profit margin: 1.4% (up from net loss in 2Q 2021). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 9% per year. Upcoming Dividend • Nov 21
Upcoming dividend of ৳0.20 per share Eligible shareholders must have bought the stock before 28 November 2021. Payment date: 30 January 2022. Trailing yield: 0.8%. Lower than top quartile of Bangladeshi dividend payers (2.9%). Lower than average of industry peers (2.5%). Is New 90 Day High Low • Feb 08
New 90-day low: ৳15.90 The company is down 1.0% from its price of ৳16.10 on 10 November 2020. The Bangladeshi market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is flat over the same period. Reported Earnings • Feb 02
Second quarter 2021 earnings released: ৳0.77 loss per share (vs ৳0.052 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: ৳496.6m (up 16% from 2Q 2020). Net loss: ৳29.3m (loss widened ৳27.3m from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Nov 24
Upcoming Dividend of ৳0.10 Per Share Will be paid on the 31st of January to those who are registered shareholders by the 1st of December. The trailing yield of 0.6% is below the top quartile of Bangladeshi dividend payers (3.8%), and is lower than industry peers (2.6%). 공시 • Nov 10
Prime Textile Spinning Mills Limited, Annual General Meeting, Dec 30, 2020 Prime Textile Spinning Mills Limited, Annual General Meeting, Dec 30, 2020, at 11:00 Bangladesh Standard Time. Is New 90 Day High Low • Oct 27
New 90-day low: ৳17.40 The company is down 4.0% from its price of ৳18.20 on 29 July 2020. The Bangladeshi market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 10.0% over the same period. 공시 • Jul 17
Prime Textile Spinning Mills Limited to Report Q3, 2020 Results on Jun 29, 2020 Prime Textile Spinning Mills Limited announced that they will report Q3, 2020 results on Jun 29, 2020