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. 5 experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Mohammad Rashid was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 27
Fu-Wang Ceramic Industry Limited to Report Q3, 2026 Results on Apr 30, 2026 Fu-Wang Ceramic Industry Limited announced that they will report Q3, 2026 results on Apr 30, 2026 Announcement • Jan 25
Fu-Wang Ceramic Industry Limited to Report Q2, 2026 Results on Jan 29, 2026 Fu-Wang Ceramic Industry Limited announced that they will report Q2, 2026 results on Jan 29, 2026 Announcement • Nov 11
Fu-Wang Ceramic Industry Limited to Report Q1, 2026 Results on Nov 16, 2025 Fu-Wang Ceramic Industry Limited announced that they will report Q1, 2026 results on Nov 16, 2025 Announcement • Nov 06
Fu-Wang Ceramic Industry Limited announces Annual dividend, payable on January 29, 2026 Fu-Wang Ceramic Industry Limited announced Annual dividend of BDT 0.1000 per share payable on January 29, 2026, ex-date on November 27, 2025 and record date on November 26, 2025. Announcement • Nov 05
Fu-Wang Ceramic Industry Limited, Annual General Meeting, Dec 30, 2025 Fu-Wang Ceramic Industry Limited, Annual General Meeting, Dec 30, 2025, at 10:00 Central Asia Standard Time. Location: hybrid system, physical presence at gulshan shooting club, 2nd floor, gulshan avenue, gulshan-1, dhaka., Bangladesh Announcement • Oct 21
Fu-Wang Ceramic Industry Limited to Report Fiscal Year 2025 Results on Oct 28, 2025 Fu-Wang Ceramic Industry Limited announced that they will report fiscal year 2025 results on Oct 28, 2025 Announcement • Apr 28
Fu-Wang Ceramic Industry Limited to Report Q3, 2025 Results on Apr 30, 2025 Fu-Wang Ceramic Industry Limited announced that they will report Q3, 2025 results on Apr 30, 2025 Announcement • Jan 28
Fu-Wang Ceramic Industry Limited to Report Q2, 2025 Results on Jan 30, 2025 Fu-Wang Ceramic Industry Limited announced that they will report Q2, 2025 results on Jan 30, 2025 Reported Earnings • Nov 14
Full year 2024 earnings released Full year 2024 results: Revenue: ৳1.08b (up 18% from FY 2023). Net income: ৳27.1m (down 25% from FY 2023). Profit margin: 2.5% (down from 4.0% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 7% per year. Announcement • Nov 11
Fu-Wang Ceramic Industry Limited to Report Q1, 2025 Results on Nov 14, 2024 Fu-Wang Ceramic Industry Limited announced that they will report Q1, 2025 results on Nov 14, 2024 Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ৳12.60, the stock trades at a trailing P/E ratio of 61x. Average trailing P/E is 17x in the Building industry in Asia. Total loss to shareholders of 28% over the past three years. Announcement • Oct 23
Fu-Wang Ceramic Industry Limited to Report Fiscal Year 2024 Results on Oct 28, 2024 Fu-Wang Ceramic Industry Limited announced that they will report fiscal year 2024 results on Oct 28, 2024 Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ৳13.20, the stock trades at a trailing P/E ratio of 63.9x. Average trailing P/E is 15x in the Building industry in Asia. Total loss to shareholders of 42% over the past three years. Reported Earnings • May 04
Third quarter 2024 earnings released: EPS: ৳0.06 (vs ৳0.13 in 3Q 2023) Third quarter 2024 results: EPS: ৳0.06 (down from ৳0.13 in 3Q 2023). Revenue: ৳292.6m (up 25% from 3Q 2023). Net income: ৳8.31m (down 53% from 3Q 2023). Profit margin: 2.8% (down from 7.6% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Announcement • Apr 30
Fu-Wang Ceramic Industry Limited to Report Q3, 2024 Results on Apr 30, 2024 Fu-Wang Ceramic Industry Limited announced that they will report Q3, 2024 results on Apr 30, 2024 Reported Earnings • Feb 13
Second quarter 2024 earnings released: EPS: ৳0.05 (vs ৳0.07 in 2Q 2023) Second quarter 2024 results: EPS: ৳0.05 (down from ৳0.07 in 2Q 2023). Revenue: ৳247.6m (up 7.2% from 2Q 2023). Net income: ৳6.90m (down 22% from 2Q 2023). Profit margin: 2.8% (down from 3.8% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Announcement • Feb 07
Fu-Wang Ceramic Industry Limited to Report Q2, 2024 Results on Feb 08, 2024 Fu-Wang Ceramic Industry Limited announced that they will report Q2, 2024 results on Feb 08, 2024 Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ৳22.10, the stock trades at a trailing P/E ratio of 76.1x. Average trailing P/E is 16x in the Building industry in Asia. Total returns to shareholders of 108% over the past three years. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ৳22.10, the stock trades at a trailing P/E ratio of 76.1x. Average trailing P/E is 16x in the Building industry in Asia. Total returns to shareholders of 108% over the past three years. Announcement • Dec 21
Fu-Wang Ceramic Industry Limited to Report Q1, 2024 Results on Dec 24, 2023 Fu-Wang Ceramic Industry Limited announced that they will report Q1, 2024 results on Dec 24, 2023 Reported Earnings • Dec 19
Full year 2023 earnings released: EPS: ৳0.26 (vs ৳0.23 in FY 2022) Full year 2023 results: EPS: ৳0.26 (up from ৳0.23 in FY 2022). Revenue: ৳911.4m (up 8.2% from FY 2022). Net income: ৳36.0m (up 14% from FY 2022). Profit margin: 4.0% (up from 3.7% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 03
Upcoming dividend of ৳0.20 per share at 1.1% yield Eligible shareholders must have bought the stock before 10 December 2023. Payment date: 30 January 2024. Payout ratio is on the higher end at 77% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Bangladeshi dividend payers (3.4%). Lower than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to ৳17.80, the stock trades at a trailing P/E ratio of 68.4x. Average trailing P/E is 17x in the Building industry in Asia. Total returns to shareholders of 75% over the past three years. Announcement • Nov 21
Fu-Wang Ceramic Industry Limited Recommends Cash Dividend for the Year Ended June 30, 2023 The Board of Directors has recommended 2% Cash Dividend for general shareholders other than Sponsors/Directors for the year ended June 30, 2023. The Sponsors/Directors hold 4,08,76,546 shares of the Company and the cash payable to the general shareholders is Tk. 1,90,78,509.00. Record Date: December 07, 2023. Announcement • Nov 20
Fu-Wang Ceramic Industry Limited, Annual General Meeting, Dec 31, 2023 Fu-Wang Ceramic Industry Limited, Annual General Meeting, Dec 31, 2023, at 12:00 Bangladesh Standard Time. Agenda: To consider and approve to hold certain shares of the Company and the cash payable to the general shareholders; to consider EPS and NAV per share for the year ended June 30, 2023; and to consider other business matters. New Risk • Nov 19
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 7.1% 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 Interest payments are not well covered by earnings (1.4x net interest cover). Earnings have declined by 23% per year over the past 5 years. High level of non-cash earnings (82% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.1% average weekly change). Market cap is less than US$100m (৳2.93b market cap, or US$26.5m). Reported Earnings • Jul 18
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ৳234.6m (up 7.8% from 3Q 2022). Net income: ৳17.8m (up 122% from 3Q 2022). Profit margin: 7.6% (up from 3.7% in 3Q 2022). The increase in margin was driven by higher revenue. 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 September 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 (1.3x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 95% Paying a dividend despite having no free cash flows. Earnings have declined by 19% per year over the past 5 years. High level of non-cash earnings (36% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Profit margins are more than 30% lower than last year (3.3% net profit margin). Market cap is less than US$100m (৳2.37b market cap, or US$21.9m). Announcement • Jun 22
Fu-Wang Ceramic Industry Limited to Report Q3, 2023 Results on Jun 25, 2023 Fu-Wang Ceramic Industry Limited announced that they will report Q3, 2023 results on Jun 25, 2023 Board Change • Dec 29
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Sadad Rahman was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Dec 28
First quarter 2023 earnings released: EPS: ৳0.059 (vs ৳0.081 in 1Q 2022) First quarter 2023 results: EPS: ৳0.059 (down from ৳0.081 in 1Q 2022). Revenue: ৳221.3m (up 12% from 1Q 2022). Net income: ৳8.05m (down 27% from 1Q 2022). Profit margin: 3.6% (down from 5.6% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 04
Upcoming dividend of ৳0.20 per share Eligible shareholders must have bought the stock before 11 December 2022. Payment date: 30 January 2023. Payout ratio is a comfortable 70% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Bangladeshi dividend payers (3.8%). Lower than average of industry peers (2.6%). Announcement • Nov 21
Fu-Wang Ceramic Industry Limited Recommends Cash Dividend for the Year Ended June 30, 2022 Fu-Wang Ceramic Industry Limited announced the board of directors has recommended 2% cash dividend for all the shareholders other than Sponsors/Directors for the year ended June 30, 2022. The Sponsors/Directors hold 4,08,76,546 shares out of total 13,62,69,093 shares of the Company and the cash dividend to be payable to the general shareholders is BDT 1,90,78,509.00. Reported Earnings • Jun 26
Third quarter 2022 earnings released: EPS: ৳0.06 (vs ৳0.06 in 3Q 2021) Third quarter 2022 results: EPS: ৳0.06 (vs ৳0.06 in 3Q 2021). Revenue: ৳217.5m (up 14% from 3Q 2021). Net income: ৳8.02m (flat on 3Q 2021). Profit margin: 3.7% (down from 4.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 28% share price gain to ৳20.70, the stock trades at a trailing P/E ratio of 72.1x. Average trailing P/E is 15x in the Building industry in Asia. Total returns to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 16% share price gain to ৳17.70, the stock trades at a trailing P/E ratio of 61.6x. Average trailing P/E is 15x in the Building industry in Asia. Total returns to shareholders of 55% over the past three years. Reported Earnings • Mar 09
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: ৳0.09 (down from ৳0.13 in 2Q 2021). Revenue: ৳211.5m (up 9.2% from 2Q 2021). Net income: ৳11.7m (down 33% from 2Q 2021). Profit margin: 5.5% (down from 9.0% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 25% 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 22
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ৳0.34 (down from ৳0.47 in FY 2020). Revenue: ৳767.1m (up 31% from FY 2020). Net income: ৳46.4m (down 27% from FY 2020). Profit margin: 6.0% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improved over the past week After last week's 20% share price gain to ৳19.40, the stock trades at a trailing P/E ratio of 41.7x. Average trailing P/E is 14x in the Building industry in Asia. Total returns to shareholders of 51% over the past three years. Upcoming Dividend • Dec 06
Upcoming dividend of ৳0.20 per share Eligible shareholders must have bought the stock before 13 December 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 (1.9%). Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ৳18.30, the stock trades at a trailing P/E ratio of 39.4x. Average trailing P/E is 15x in the Building industry in Asia. Total returns to shareholders of 63% over the past three years. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improved over the past week After last week's 23% share price gain to ৳22.30, the stock trades at a trailing P/E ratio of 47.7x. Average trailing P/E is 17x in the Building industry in Asia. Total returns to shareholders of 55% over the past three years. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improved over the past week After last week's 16% share price gain to ৳15.20, the stock trades at a trailing P/E ratio of 32.5x. Average trailing P/E is 17x in the Building industry in Asia. Total returns to shareholders of 6.8% over the past three years. Is New 90 Day High Low • Feb 08
New 90-day low: ৳10.10 The company is down 11% from its price of ৳11.40 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 Building industry, which is up 9.0% over the same period. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 22% share price gain to ৳14.30, the stock is trading at a trailing P/E ratio of 29.4x, up from the previous P/E ratio of 24x. This compares to an average P/E of 18x in the Building industry in Asia. Total return to shareholders over the past three years is a loss of 4.3%. Is New 90 Day High Low • Jan 06
New 90-day high: ৳13.40 The company is up 18% from its price of ৳11.40 on 08 October 2020. The Bangladeshi market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 15% over the same period. Valuation Update With 7 Day Price Move • Dec 09
Market bids up stock over the past week After last week's 19% share price gain to ৳12.90, the stock is trading at a trailing P/E ratio of 26.5x, up from the previous P/E ratio of 22.2x. This compares to an average P/E of 18x in the Building industry in Asia. Total return to shareholders over the past three years is a loss of 16%. Upcoming Dividend • Nov 18
Upcoming Dividend of ৳0.14 Per Share Will be paid on the 31st of January to those who are registered shareholders by the 25th of November. The trailing yield of 1.3% is below the top quartile of Bangladeshi dividend payers (3.8%), but is in line with industry peers (1.5%). Announcement • Jul 17
Fu-Wang Ceramic Industry Limited to Report Q3, 2020 Results on Jul 05, 2020 Fu-Wang Ceramic Industry Limited announced that they will report Q3, 2020 results on Jul 05, 2020