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. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Md. Zafer 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. Announcement • Oct 21
S. S. Steel Limited to Report Fiscal Year 2025 Results on Oct 28, 2025 S. S. Steel Limited announced that they will report fiscal year 2025 results on Oct 28, 2025 Announcement • Aug 04
S. S. Steel Limited Announces Appointment of Mr. Md. Abul Kalam as Acting Company Secretary ,Effective July 31, 2025 S. S. Steel Limited informed that the Board of Directors has approved the appointment of Mr. Md. Abul Kalam as the Company Secretary (Acting) of the company with effect from July 31, 2025. Announcement • Apr 23
S. S. Steel Limited to Report Q3, 2025 Results on Apr 29, 2025 S. S. Steel Limited announced that they will report Q3, 2025 results on Apr 29, 2025 Announcement • Jan 27
S. S. Steel Limited to Report Q2, 2025 Results on Jan 30, 2025 S. S. Steel Limited announced that they will report Q2, 2025 results on Jan 30, 2025 Announcement • Jan 17
S. S. Steel Limited Approves Appointment of Mohammad Nuruzzaman ,FCS as Company Secretary S. S. Steel Limited approved the appointment of Mr. Mohammad Nuruzzaman, FCS as the Company Secretary of the company with effect from January 1, 2025. Announcement • Nov 25
S. S. Steel Limited to Report Q1, 2025 Results on Nov 28, 2024 S. S. Steel Limited announced that they will report Q1, 2025 results on Nov 28, 2024 Announcement • Nov 18
S. S. Steel Limited, Annual General Meeting, Dec 31, 2024 S. S. Steel Limited, Annual General Meeting, Dec 31, 2024, at 11:00 Central Asia Standard Time. Location: hybrid system at international conventiion city, bashundhara, ): hall no. 5 (pushpanjali)., Bangladesh New Risk • Nov 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2024. 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 (0.9x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 317% Paying a dividend despite having no free cash flows. Earnings have declined by 27% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Market cap is less than US$100m (৳2.86b market cap, or US$23.8m). Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ৳8.30, the stock trades at a trailing P/E ratio of 57.2x. Average trailing P/E is 38x in the Metals and Mining industry in Bangladesh. Total loss to shareholders of 60% over the past three years. Announcement • Oct 23
S. S. Steel Limited to Report Fiscal Year 2024 Results on Oct 28, 2024 S. S. Steel Limited announced that they will report fiscal year 2024 results on Oct 28, 2024 Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ৳7.90, the stock trades at a trailing P/E ratio of 54.5x. Average trailing P/E is 40x in the Metals and Mining industry in Bangladesh. Total loss to shareholders of 63% over the past three years. Reported Earnings • May 02
Third quarter 2024 earnings released: EPS: ৳0.09 (vs ৳0.009 in 3Q 2023) Third quarter 2024 results: EPS: ৳0.09 (up from ৳0.009 in 3Q 2023). Revenue: ৳6.04b (up 52% from 3Q 2023). Net income: ৳28.3m (up ৳25.5m from 3Q 2023). Profit margin: 0.5% (up from 0.1% in 3Q 2023). The increase in margin was driven by higher revenue. 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. Announcement • Apr 30
S. S. Steel Limited to Report Q3, 2024 Results on Apr 30, 2024 S. S. Steel Limited announced that they will report Q3, 2024 results on Apr 30, 2024 New Risk • Mar 13
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 9.0% 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 (0.9x net interest cover). Share price has been highly volatile over the past 3 months (9.0% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 317% Paying a dividend despite having no free cash flows. Earnings have declined by 20% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.1% net profit margin). Market cap is less than US$100m (৳5.16b market cap, or US$47.0m). Announcement • Jan 26
S. S. Steel Limited to Report Q2, 2024 Results on Jan 31, 2024 S. S. Steel Limited announced that they will report Q2, 2024 results on Jan 31, 2024 Announcement • Dec 19
S. S. Steel Limited to Report Q1, 2024 Results on Dec 21, 2023 S. S. Steel Limited announced that they will report Q1, 2024 results on Dec 21, 2023 Upcoming Dividend • Nov 29
Upcoming dividend of ৳0.20 per share at 1.2% yield Eligible shareholders must have bought the stock before 06 December 2023. Payment date: 30 January 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Bangladeshi dividend payers (3.5%). Lower than average of industry peers (2.4%). New Risk • Nov 19
New major risk - Revenue and earnings growth Earnings have declined by 3.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 3.0% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.1% net profit margin). Shareholders have been diluted in the past year (5.3% increase in shares outstanding). Market cap is less than US$100m (৳5.89b market cap, or US$53.3m). Announcement • Nov 17
S. S. Steel Limited Recommends Cash Dividend for the Year Ended on June 30, 2023 The Board of Directors of S. S. Steel Limited has recommended 2% Cash dividend to general shareholders other than sponsors and directors for the year ended June 30, 2023. Reported Earnings • Aug 25
Full year 2022 earnings released Full year 2022 results: Revenue: ৳7.64b (up 20% from FY 2021). Net income: ৳613.0m (down 13% from FY 2021). Profit margin: 8.0% (down from 11% in FY 2021). The decrease in margin was driven by higher expenses. New Risk • Jun 24
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended March 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 Risk Latest financial reports are more than 1 year old (reported March 2022 fiscal period end). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (৳5.60b market cap, or US$51.7m). Upcoming Dividend • Feb 16
Upcoming dividend of ৳0.20 per share at 1.2% yield Eligible shareholders must have bought the stock before 23 February 2023. Payment date: 30 April 2023. Trailing yield: 1.2%. Lower than top quartile of Bangladeshi dividend payers (3.9%). Lower than average of industry peers (2.9%). Board Change • Nov 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. 3 non-independent directors. Independent Director Md. Zafer 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 • Jun 25
Third quarter 2022 earnings released: EPS: ৳0.63 (vs ৳0.64 in 3Q 2021) Third quarter 2022 results: EPS: ৳0.63 (down from ৳0.64 in 3Q 2021). Revenue: ৳1.95b (up 11% from 3Q 2021). Net income: ৳207.3m (down 1.4% from 3Q 2021). Profit margin: 11% (down from 12% 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 8% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging 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. 3 non-independent directors. Independent Director Abu Zafer 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 • Mar 09
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: ৳2.39 (up from ৳0.17 in 3Q 2020). Revenue: ৳2.36b (up 224% from 3Q 2020). Net income: ৳781.7m (up ৳725.0m from 3Q 2020). Profit margin: 33% (up from 7.8% in 3Q 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 12
Upcoming dividend of ৳0.20 per share Eligible shareholders must have bought the stock before 19 December 2021. Payment date: 30 January 2022. Payout ratio is a comfortable 8.6% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Bangladeshi dividend payers (2.9%). Lower than average of industry peers (3.8%). Reported Earnings • Jun 04
Third quarter 2021 earnings released: EPS ৳2.58 (vs ৳0.19 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ৳2.36b (up 224% from 3Q 2020). Net income: ৳781.7m (up ৳725.0m from 3Q 2020). Profit margin: 33% (up from 7.8% in 3Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improved over the past week After last week's 15% share price gain to ৳20.90, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 34x in the Metals and Mining industry in Bangladesh. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ৳15.30, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 28x in the Metals and Mining industry in Bangladesh. Total returns to shareholders of 63% over the past year. Reported Earnings • Feb 20
Second quarter 2021 earnings released: EPS ৳0.76 (vs ৳0.43 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ৳1.60b (up 50% from 2Q 2020). Net income: ৳231.8m (up 78% from 2Q 2020). Profit margin: 14% (up from 12% in 2Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 20% share price gain to ৳22.00, the stock is trading at a trailing P/E ratio of 15.5x, up from the previous P/E ratio of 13x. This compares to an average P/E of 32x in the Metals and Mining industry in Bangladesh. Total returns to shareholders over the past year are 10%. Is New 90 Day High Low • Jan 04
New 90-day high: ৳20.10 The company is up 81% from its price of ৳11.11 on 06 October 2020. The Bangladeshi market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 9.0% over the same period. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 15% share price gain to ৳18.70, the stock is trading at a trailing P/E ratio of 8.4x, up from the previous P/E ratio of 7.2x. This compares to an average P/E of 25x in the Metals and Mining industry in Bangladesh. Total return to shareholders over the past year is a loss of 9.0%. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improved over the past week After last week's 17% share price gain to ৳16.70, the stock is trading at a trailing P/E ratio of 7.5x, up from the previous P/E ratio of 6.4x. This compares to an average P/E of 25x in the Metals and Mining industry in Bangladesh. Total return to shareholders over the past year is a loss of 17%. Is New 90 Day High Low • Dec 15
New 90-day high: ৳15.40 The company is up 24% from its price of ৳12.41 on 16 September 2020. The Bangladeshi market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 6.0% over the same period. Valuation Update With 7 Day Price Move • Nov 19
Market pulls back on stock over the past week After last week's 16% share price decline to ৳13.20, the stock is trading at a trailing P/E ratio of 5.5x, down from the previous P/E ratio of 6.5x. This compares to an average P/E of 22x in the Metals and Mining industry in Bangladesh. Total return to shareholders over the past year is a loss of 52%. Announcement • Nov 17
S. S. Steel Limited, Annual General Meeting, Dec 31, 2020 S. S. Steel Limited, Annual General Meeting, Dec 31, 2020, at 14:00 Bangladesh Standard Time. Is New 90 Day High Low • Oct 26
New 90-day high: ৳14.70 The company is up 43% from its price of ৳10.30 on 28 July 2020. The Bangladeshi market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 18% over the same period. Valuation Update With 7 Day Price Move • Oct 21
Market bids up stock over the past week After last week's 16% share price gain to ৳13.80, the stock is trading at a trailing P/E ratio of 5.7x, up from the previous P/E ratio of 4.9x. This compares to an average P/E of 17x in the Metals and Mining industry in Bangladesh. Total return to shareholders over the past year is a loss of 41%. Announcement • Jul 17
S. S. Steel Limited to Report Q3, 2020 Results on Jul 12, 2020 S. S. Steel Limited announced that they will report Q3, 2020 results on Jul 12, 2020 
