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. 6 experienced directors. 1 highly experienced director. 2 independent directors (5 non-independent directors). Independent Director Safiul Alam Chowdhury 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. Duyuru • May 18
GPH Ispat Limited to Report Q3, 2026 Results on May 23, 2026 GPH Ispat Limited announced that they will report Q3, 2026 results on May 23, 2026 Duyuru • Jan 27
GPH Ispat Limited to Report Q2, 2026 Results on Jan 29, 2026 GPH Ispat Limited announced that they will report Q2, 2026 results on Jan 29, 2026 Duyuru • Dec 07
GPH Ispat Limited to Report Q1, 2026 Results on Dec 10, 2025 GPH Ispat Limited announced that they will report Q1, 2026 results on Dec 10, 2025 Duyuru • Dec 02
GPH Ispat Limited, Annual General Meeting, Dec 31, 2025 GPH Ispat Limited, Annual General Meeting, Dec 31, 2025, at 11:00 Central Asia Standard Time. Duyuru • Nov 24
GPH Ispat Limited to Report Fiscal Year 2025 Results on Dec 01, 2025 GPH Ispat Limited announced that they will report fiscal year 2025 results on Dec 01, 2025 Duyuru • Apr 28
GPH Ispat Limited to Report Q3, 2025 Results on Apr 30, 2025 GPH Ispat Limited announced that they will report Q3, 2025 results on Apr 30, 2025 Duyuru • Jan 26
GPH Ispat Limited to Report Q2, 2025 Results on Jan 30, 2025 GPH Ispat Limited announced that they will report Q2, 2025 results on Jan 30, 2025 Duyuru • Nov 11
GPH Ispat Limited to Report Q1, 2025 Results on Nov 14, 2024 GPH Ispat Limited announced that they will report Q1, 2025 results on Nov 14, 2024 Upcoming Dividend • Oct 29
Upcoming dividend of ৳1.00 per share Eligible shareholders must have bought the stock before 05 November 2024. Payment date: 12 January 2025. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of Bangladeshi dividend payers (5.1%). In line with average of industry peers (4.5%). New Risk • Oct 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ৳11.7b (US$97.8m) This is considered a minor 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 Interest payments are not well covered by earnings (1.7x net interest cover). 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 (৳11.7b market cap, or US$97.8m). Duyuru • Sep 30
GPH Ispat Limited to Report Fiscal Year 2024 Results on Oct 07, 2024 GPH Ispat Limited announced that they will report fiscal year 2024 results on Oct 07, 2024 Reported Earnings • May 15
Third quarter 2024 earnings released: EPS: ৳1.01 (vs ৳1.11 in 3Q 2023) Third quarter 2024 results: EPS: ৳1.01 (down from ৳1.11 in 3Q 2023). Revenue: ৳15.6b (flat on 3Q 2023). Net income: ৳489.4m (down 8.5% from 3Q 2023). Profit margin: 3.1% (down from 3.4% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ৳30.00, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 39x in the Metals and Mining industry in Bangladesh. Total returns to shareholders of 18% over the past three years. Duyuru • Apr 26
GPH Ispat Limited to Report Q3, 2024 Results on Apr 30, 2024 GPH Ispat Limited announced that they will report Q3, 2024 results on Apr 30, 2024 Reported Earnings • Feb 09
Second quarter 2024 earnings released: EPS: ৳0.66 (vs ৳0.11 loss in 2Q 2023) Second quarter 2024 results: EPS: ৳0.66 (up from ৳0.11 loss in 2Q 2023). Revenue: ৳16.8b (up 14% from 2Q 2023). Net income: ৳318.4m (up ৳370.6m from 2Q 2023). Profit margin: 1.9% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. New Risk • Jan 30
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 5.9% 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 (2.8x net interest cover). Earnings have declined by 2.0% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.9% average weekly change). Duyuru • Jan 29
GPH Ispat Limited to Report Q2, 2024 Results on Jan 31, 2024 GPH Ispat Limited announced that they will report Q2, 2024 results on Jan 31, 2024 Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ৳34.70, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 51x in the Metals and Mining industry in Bangladesh. Total returns to shareholders of 44% over the past three years. New Risk • Nov 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Earnings have declined by 1.6% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (0.5% net profit margin). Shareholders have been diluted in the past year (5.0% increase in shares outstanding). Upcoming Dividend • Nov 19
Upcoming dividend of ৳0.50 per share at 1.1% yield Eligible shareholders must have bought the stock before 26 November 2023. Payment date: 28 January 2024. Payout ratio is on the higher end at 86% 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 (2.4%). New Risk • Nov 18
New major risk - Revenue and earnings growth Earnings have declined by 1.6% 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 (1.2x 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 1.6% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (0.5% net profit margin). Reported Earnings • Nov 18
Full year 2023 earnings released: EPS: ৳0.58 (vs ৳3.24 in FY 2022) Full year 2023 results: EPS: ৳0.58 (down from ৳3.24 in FY 2022). Revenue: ৳57.7b (up 23% from FY 2022). Net income: ৳267.6m (down 82% from FY 2022). Profit margin: 0.5% (down from 3.2% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Duyuru • Oct 31
GPH Ispat Limited Recommends Cash Dividend for the Year Ended June 30, 2023 The Board of Directors of GPH Ispat Limited recommended 5% Cash Dividend only for general shareholders other than sponsors and directors for the year ended June 30, 2023. Date of AGM: December 28, 2023. Record date is November 23, 2023. Duyuru • Oct 30
GPH Ispat Limited, Annual General Meeting, Dec 28, 2023 GPH Ispat Limited, Annual General Meeting, Dec 28, 2023, at 09:00 Coordinated Universal Time. Duyuru • Oct 20
GPH Ispat Limited to Report Q4, 2023 Results on Oct 28, 2023 GPH Ispat Limited announced that they will report Q4, 2023 results on Oct 28, 2023 Duyuru • Sep 12
Gph Ispat Limited Announces Executive Changes GPH Ispat Limited informed that the Board of Directors has decided to assign Mr. Md. Mosharof Hossain as the Acting Company Secretary of the company in place of Mr. H. M. Ashraf-Uz-Zaman, FCA with immediate effect. Reported Earnings • May 16
Third quarter 2023 earnings released: EPS: ৳1.16 (vs ৳1.34 in 3Q 2022) Third quarter 2023 results: EPS: ৳1.16 (down from ৳1.34 in 3Q 2022). Revenue: ৳15.5b (up 3.4% from 3Q 2022). Net income: ৳534.9m (down 13% from 3Q 2022). Profit margin: 3.4% (down from 4.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Feb 14
Second quarter 2023 earnings released: ৳0.12 loss per share (vs ৳1.07 profit in 2Q 2022) Second quarter 2023 results: ৳0.12 loss per share (down from ৳1.07 profit in 2Q 2022). Revenue: ৳14.7b (up 44% from 2Q 2022). Net loss: ৳55.9m (down 111% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 17
Full year 2022 earnings released: EPS: ৳3.42 (vs ৳3.80 in FY 2021) Full year 2022 results: EPS: ৳3.42 (down from ৳3.80 in FY 2021). Revenue: ৳46.8b (up 66% from FY 2021). Net income: ৳1.49b (down 10.0% from FY 2021). Profit margin: 3.2% (down from 5.9% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. 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. 7 experienced directors. 1 highly experienced director. 2 independent directors (6 non-independent directors). Independent Director Mukhtar Ahmed was the last independent director to join the board, commencing their role in 2019. 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 • Apr 30
Third quarter 2022 earnings released: EPS: ৳0.014 (vs ৳1.04 in 3Q 2021) Third quarter 2022 results: EPS: ৳0.014. Revenue: ৳15.0b (up 99% from 3Q 2021). Net income: ৳617.3m (up 37% from 3Q 2021). Profit margin: 4.1% (down from 6.0% in 3Q 2021). The decrease in margin was driven by higher expenses. Board Change • Apr 27
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. 6 experienced directors. 1 highly experienced director. 2 independent directors (6 non-independent directors). Independent Director Mukhtar Ahmed was the last independent director to join the board, commencing their role in 2019. 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: ৳1.14 (up from ৳0.96 in 2Q 2021). Revenue: ৳10.2b (up 57% from 2Q 2021). Net income: ৳499.4m (up 18% from 2Q 2021). Profit margin: 4.9% (down from 6.5% 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 increased by 39% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 21
First quarter 2022 earnings released: EPS ৳1.13 (vs ৳0.69 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2022 results: Revenue: ৳9.22b (up 110% from 1Q 2021). Net income: ৳450.0m (up 64% from 1Q 2021). Profit margin: 4.9% (down from 6.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 27% per year. Upcoming Dividend • Nov 16
Upcoming dividend of ৳2.00 per share Eligible shareholders must have bought the stock before 23 November 2021. Payment date: 19 January 2022. Trailing yield: 3.1%. Within top quartile of Bangladeshi dividend payers (3.0%). Lower than average of industry peers (3.8%). Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improved over the past week After last week's 15% share price gain to ৳68.80, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 26x in the Metals and Mining industry in Bangladesh. Total returns to shareholders of 125% over the past three years. 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 ৳44.20, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 24x in the Metals and Mining industry in Bangladesh. Total returns to shareholders of 48% over the past three years. Reported Earnings • May 27
Third quarter 2021 earnings released: EPS ৳1.14 (vs ৳0.12 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ৳7.55b (up 219% from 3Q 2020). Net income: ৳452.1m (up ৳404.9m from 3Q 2020). Profit margin: 6.0% (up from 2.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 2% per year. Reported Earnings • Feb 01
Second quarter 2021 earnings released: EPS ৳1.06 (vs ৳0.41 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ৳6.49b (up 128% from 2Q 2020). Net income: ৳421.7m (up 162% from 2Q 2020). Profit margin: 6.5% (up from 5.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 11
New 90-day high: ৳34.20 The company is up 38% from its price of ৳24.76 on 13 October 2020. The Bangladeshi market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 21% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: ৳30.90 The company is up 21% from its price of ৳25.62 on 29 September 2020. The Bangladeshi market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 3.0% over the same period. Reported Earnings • Nov 17
First quarter 2021 earnings released: EPS ৳0.73 The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ৳4.39b (up 67% from 1Q 2020). Net income: ৳274.8m (up 68% from 1Q 2020). Profit margin: 6.3% (up from 6.2% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 6% per year. Upcoming Dividend • Nov 12
Upcoming Dividend of ৳0.50 Per Share Will be paid on the 21st of January to those who are registered shareholders by the 19th of November. The trailing yield of 1.7% is below the top quartile of Bangladeshi dividend payers (3.8%), and is lower than industry peers (2.8%). Valuation Update With 7 Day Price Move • Oct 18
Market bids up stock over the past week After last week's 16% share price gain to ৳29.70, the stock is trading at a trailing P/E ratio of 18.3x, up from the previous P/E ratio of 15.8x. This compares to an average P/E of 18x in the Metals and Mining industry in Bangladesh. Total return to shareholders over the past three years is a loss of 4.0%.