Valuation Update With 7 Day Price Move • 15h
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ৳6.60, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 25x in the Luxury industry in Bangladesh. Total loss to shareholders of 33% over the past three years. New Risk • Jun 02
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (21% accrual ratio). Revenue is less than US$1m (৳234k revenue, or US$1.9k). Market cap is less than US$10m (৳648.8m market cap, or US$5.29m). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). Board Change • May 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. 2 independent directors (5 non-independent directors). Independent Director Nushrat Afroz was the last independent director to join the board, commencing their role in 2025. 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 24
Zaheen Spinning PLC. to Report Q3, 2026 Results on Apr 28, 2026 Zaheen Spinning PLC. announced that they will report Q3, 2026 results on Apr 28, 2026 Announcement • Jan 25
Zaheen Spinning PLC. to Report Q2, 2026 Results on Jan 28, 2026 Zaheen Spinning PLC. announced that they will report Q2, 2026 results on Jan 28, 2026 Announcement • Nov 10
Zaheen Spinning PLC. to Report Q1, 2026 Results on Nov 12, 2025 Zaheen Spinning PLC. announced that they will report Q1, 2026 results on Nov 12, 2025 Announcement • Oct 28
Zaheen Spinning PLC., Annual General Meeting, Dec 30, 2025 Zaheen Spinning PLC., Annual General Meeting, Dec 30, 2025, at 09:00 Central Asia Standard Time. Location: the dhanmondi party centre, house-107, road-9/a, dhanmondi, dhaka-1209, Bangladesh Announcement • Oct 21
Zaheen Spinning PLC. to Report Fiscal Year 2025 Results on Oct 27, 2025 Zaheen Spinning PLC. announced that they will report fiscal year 2025 results on Oct 27, 2025 Announcement • Apr 24
Zaheen Spinning PLC. to Report Q3, 2025 Results on Apr 29, 2025 Zaheen Spinning PLC. announced that they will report Q3, 2025 results on Apr 29, 2025 Announcement • Feb 18
Zaheen Spinning PLC. to Report Q2, 2025 Results on Feb 26, 2025 Zaheen Spinning PLC. announced that they will report Q2, 2025 results on Feb 26, 2025 Announcement • Nov 05
Zaheen Spinning PLC. to Report Q1, 2025 Results on Nov 10, 2024 Zaheen Spinning PLC. announced that they will report Q1, 2025 results on Nov 10, 2024 Announcement • Oct 28
Zaheen Spinning PLC., Annual General Meeting, Dec 29, 2024 Zaheen Spinning PLC., Annual General Meeting, Dec 29, 2024, at 09:00 Central Asia Standard Time. Location: dhanmondi party centre, house no. 107, road no. 9/a, dhanmondi, dhaka-1209 Bangladesh Announcement • Oct 21
Zaheen Spinning PLC. to Report Fiscal Year 2024 Results on Oct 27, 2024 Zaheen Spinning PLC. announced that they will report fiscal year 2024 results on Oct 27, 2024 Reported Earnings • May 10
Third quarter 2024 earnings released: ৳0.09 loss per share (vs ৳0.03 profit in 3Q 2023) Third quarter 2024 results: ৳0.09 loss per share (down from ৳0.03 profit in 3Q 2023). Revenue: ৳145.7m (down 11% from 3Q 2023). Net loss: ৳10.1m (down 387% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Apr 26
Zaheen Spinning Limited to Report Q3, 2024 Results on Apr 29, 2024 Zaheen Spinning Limited announced that they will report Q3, 2024 results on Apr 29, 2024 Reported Earnings • Feb 13
Second quarter 2024 earnings released: ৳0.11 loss per share (vs ৳0.03 profit in 2Q 2023) Second quarter 2024 results: ৳0.11 loss per share (down from ৳0.03 profit in 2Q 2023). Revenue: ৳146.4m (down 5.1% from 2Q 2023). Net loss: ৳12.4m (down 459% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Jan 25
Zaheen Spinning Limited to Report Q2, 2024 Results on Jan 29, 2024 Zaheen Spinning Limited announced that they will report Q2, 2024 results on Jan 29, 2024 New Risk • Jan 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ৳1.04b (US$9.45m) 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 Risk Market cap is less than US$10m (৳1.04b market cap, or US$9.45m). Minor Risk Large one-off items impacting financial results. New Risk • Dec 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 216% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (৳1.13b market cap, or US$10.3m). Reported Earnings • Dec 05
First quarter 2024 earnings released: ৳0.08 loss per share (vs ৳0.016 profit in 1Q 2023) First quarter 2024 results: ৳0.08 loss per share (down from ৳0.016 profit in 1Q 2023). Revenue: ৳131.7m (down 3.3% from 1Q 2023). Net loss: ৳10.1m (down ৳11.8m from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. New Risk • Nov 26
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 Risk Earnings have declined by 38% 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 (৳1.15b market cap, or US$10.4m). Announcement • Oct 31
Zaheen Spinning Limited Recommends Dividend for the Year Ended June 30, 2023 Zaheen Spinning Limited announced that board has recommended 0.25% Cash dividend for 78,424,032 general shareholders only other than Sponsors/Directors for the year ended June 30, 2023. Announcement • Oct 30
Zaheen Spinning Limited, Annual General Meeting, Dec 26, 2023 Zaheen Spinning Limited, Annual General Meeting, Dec 26, 2023, at 10:00 Bangladesh Standard Time. Announcement • Oct 20
Zaheen Spinning Limited to Report Fiscal Year 2023 Results on Oct 26, 2023 Zaheen Spinning Limited announced that they will report fiscal year 2023 results on Oct 26, 2023 Reported Earnings • May 11
Third quarter 2023 earnings released: EPS: ৳0.03 (vs ৳0.11 loss in 3Q 2022) Third quarter 2023 results: EPS: ৳0.03 (up from ৳0.11 loss in 3Q 2022). Revenue: ৳163.4m (up 60% from 3Q 2022). Net income: ৳3.53m (up ৳16.6m from 3Q 2022). Profit margin: 2.2% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Reported Earnings • Feb 08
Second quarter 2023 earnings released: EPS: ৳0.03 (vs ৳0.20 loss in 2Q 2022) Second quarter 2023 results: EPS: ৳0.03 (up from ৳0.20 loss in 2Q 2022). Revenue: ৳154.2m (up 178% from 2Q 2022). Net income: ৳3.47m (up ৳25.8m from 2Q 2022). Profit margin: 2.2% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 14% per year. Board Change • Dec 08
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. 2 independent directors (5 non-independent directors). Independent Director Abu Taleb was the last independent director to join the board, commencing their role in 2021. 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 • Dec 03
First quarter 2023 earnings released: EPS: ৳0.016 (vs ৳0.24 loss in 1Q 2022) First quarter 2023 results: EPS: ৳0.016 (up from ৳0.24 loss in 1Q 2022). Revenue: ৳136.1m (up 200% from 1Q 2022). Net income: ৳1.77m (up ৳28.6m from 1Q 2022). Profit margin: 1.3% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. 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 8% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. 2 independent directors (5 non-independent directors). Independent Director Abu Taleb was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Oct 18
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. 5 non-independent directors. Independent Director Abu Taleb was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 18
Zaheen Spinning Limited Announces Resumption of Normal Production Zaheen Spinning Limited announced that it resumed its normal production from July 16, 2022 after completion of repairing, renovation, replacement and installation of new machineries in place of burned machineries. Reported Earnings • May 28
Third quarter 2022 earnings released: ৳0.11 loss per share (vs ৳1.39 loss in 3Q 2021) Third quarter 2022 results: ৳0.11 loss per share (up from ৳1.39 loss in 3Q 2021). Revenue: ৳102.2m (up 186% from 3Q 2021). Net loss: ৳13.0m (loss narrowed 92% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Board Change • Apr 27
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. 5 non-independent directors. Independent Director Abu Taleb was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 06
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: ৳0.20 loss per share (down from ৳0.04 profit in 2Q 2021). Revenue: ৳55.4m (down 57% from 2Q 2021). Net loss: ৳22.3m (down ৳26.4m 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 74 percentage points per year, which is a significant difference in performance. Board Change • Oct 16
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. 5 non-independent directors. Independent Director M. Ahmed was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 16
Zaheen Spinning Limited Announces Resume Partial Production Zaheen Spinning Limited announced that will be going to resume its production partially from 17th July, 2021 after a massive fire incident broke out on 21st January, 2021. Is New 90 Day High Low • Jan 11
New 90-day high: ৳6.90 The company is up 3.0% from its price of ৳6.70 on 13 October 2020. The Bangladeshi market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Luxury industry, which is down 1.0% over the same period. Announcement • Nov 05
Zaheen Spinning Limited, Annual General Meeting, Dec 28, 2020 Zaheen Spinning Limited, Annual General Meeting, Dec 28, 2020, at 11:00 Bangladesh Standard Time. Announcement • Jul 07
Zaheen Spinning Limited to Report Q3, 2020 Results on Jun 24, 2020 Zaheen Spinning Limited announced that they will report Q3, 2020 results on Jun 24, 2020 
