Beximco Pharma. - Q3 Financial Results 2024-25
24 June 2026
This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a regulatory information service, this information is considered to be in the public domain.
BEXIMCO PHARMACEUTICALS PLC.
Q3 Financial Results 2024-25
Beximco Pharmaceuticals PLC. ("Beximco Pharma" or "the Company"; AIM Symbol: BXP, LEI No.:213800IMBBD6TIOQGB56), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients today announces its unaudited financial results for the third quarter and nine months ended 31 March 2025.
Financial Highlights (Consolidated)
Nine months ended 31 March 2025
· Net revenue increased 10.8% to Bangladesh Taka ("BDT") 36,622.0m / £235.0m (2023-24: BDT 33,050.9m / £239.1m)
o Domestic sales increased 8.5% to BDT 33,617.7m / £215.7m (2023-24: BDT 30,987.0m / £224.1m)
o Export sales increased 45.6% to BDT 3,004.3m / £19.3m (2023-24: BDT 2,063.9m / £14.9m)
· Profit after tax increased 20.3% to BDT 5,261.0m / £33.8m (2023-24: BDT 4,374.7m / £31.6m)
Third-quarter ended 31 March 2025
· Net revenue increased 14.8% to BDT 12,608.6m / £80.9m (2023-24: BDT 10,987.3m / £79.5m)
· Profit after tax increased 26.3% to BDT 1,726.0m / £11.1m (2023-24: BDT 1,366.6m / £9.9m)
The detailed accounts can be viewed at the Company website: www.beximcopharma.com
For a summary of financial and operational highlights for the period from 1 January 2025 to 31 March 2026, please refer to the previous announcement titled: "Financial Results for the Periods from 1 January 2025 to 31 March 2026", released today.
(Exchange rates of £1=Taka 155.8649 for 31 March 2025 and £1=Taka 138.2585 for 31 March 2024 have been used in this announcement.)
For further information please visit www.beximcopharma.com or enquire to:
Beximco Pharma
S M Rabbur Reza, Chief Operating Officer
Tel: +880 2 58611001, Ext. 20111
Mohammad Ali Nawaz, Chief Financial Officer
Tel: +880 2 58611001, Ext. 20030
Mohammad Asad Ullah, FCS
Executive Director & Company Secretary
Tel: +880 2 41060531, Ext. 10140
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady / Andrew Emmott
Tel: +44 (0)20 3368 3551 / 3555
SP Angel Corporate Finance LLP (Broker)
Matthew Johnson
Tel: +44 (0) 20 3470 0470
FTI Consulting
Simon Conway / Sam Purewal / Lucy MolloyTel: +44 (0)20 3727 1000
Notes to Editors
About Beximco Pharmaceuticals PLC.
Beximco Pharma is a leading manufacturer and exporter of medicines based in Bangladesh. Since its inception in 1976, the Company remains committed to health and wellbeing of people across all the continents by providing access to contemporary medicines. Company's broad portfolio of generics encompasses diverse delivery systems such as tablets, capsules, liquids, semi-solids, intravenous fluids, metered dose inhalers, dry powder inhalers, sterile ophthalmic drops, insulins, prefilled syringes, injectables, nebuliser solutions, oral soluble films etc. The Company also undertakes contract manufacturing for multinational and leading global generic pharmaceutical companies.
Beximco Pharma's state-of-the-art manufacturing facilities are certified by global regulatory authorities of USA, Europe, Australia, Canada, GCC and Latin America, among others and it has a geographic footprint in more than 50 countries. More than 6,000 employees are driving the company towards achieving its aspiration to be among the most admired companies in the region.
Beximco Pharmaceuticals Limited and its Subsidiaries
Consolidated statement of financial position (Un-audited)
As at March 31, 2025
March 31, 2025
Taka '000
June 30, 2024
ASSETS
Non-current assets
49,405,558
48,526,439
Property, plant and equipment
43,383,769
42,487,711
Right-of-use assets
582,493
561,597
Intangible assets
4,691,106
4,720,697
Deferred tax asset
52,646
60,891
Goodwill
674,570
674,570
Other investments
20,974
20,973
Current assets
25,449,285
20,817,584
Inventories
14,100,238
12,118,129
Spares and supplies
844,783
896,665
Trade and other receivables
4,439,493
3,767,319
Loans, advances, deposits and prepayments
2,942,187
2,686,195
Advance income tax
339,484
295,170
Short term investment
900,000
200,000
Cash and cash equivalents
1,883,100
854,106
TOTAL ASSETS
74,854,843
69,344,023
SHAREHOLDERS' EQUITY AND LIABILITIES
Equity attributable to the owners of the company
51,398,004
47,949,965
Share capital
4,461,121
4,461,121
Share premium
5,269,475
5,269,475
Excess of issue price over face value of GDRs
1,689,637
1,689,637
Capital reserve on merger
294,951
294,951
Revaluation surplus
1,134,729
1,137,306
Unrealized gain/(loss)
18,149
18,148
Retained earnings
38,529,942
35,079,327
Non-controlling interest
3,948,520
3,952,938
TOTAL EQUITY
55,346,524
51,902,903
Non-current liabilities
8,389,072
7,879,133
Long term borrowings-net of current maturity
1,963,675
1,757,971
Liability for gratuity, pension and WPPF
3,863,051
3,546,580
Deferred tax liability
2,562,346
2,574,582
Current liabilities
11,119,247
9,561,987
Short term borrowings
4,386,777
2,996,660
Long term borrowings-current maturity
1,091,878
1,270,800
Trade and other payables
3,324,104
3,671,372
Accrued expenses
1,272,457
1,106,665
Dividend payable
311,718
87,223
Income tax payable
732,313
429,267
TOTAL LIABILITIES
19,508,319
17,441,120
TOTAL EQUITY AND LIABILITIES
74,854,843
69,344,023
Beximco Pharmaceuticals Limited and its Subsidiaries
Consolidated statement of profit or loss and other comprehensive income (Un-audited)
For the period July 2024-March 2025
Taka '000
July 2024 -
March 2025
July 2023 -
March 2024
January - March 2025
January - March 2024
Net revenue
36,621,960
33,050,916
12,608,553
10,987,338
Cost of goods sold
(19,822,775)
(18,448,115)
(6,787,928)
(6,184,085)
Gross profit
16,799,185
14,602,801
5,820,625
4,803,253
Operating expenses
(9,288,133)
(8,083,749)
(3,397,217)
(2,826,393)
General and administrative expenses
(1,026,632)
(985,625)
(338,255)
(333,191)
Selling, marketing and distribution expenses
(8,261,501)
(7,098,124)
(3,058,962)
(2,493,202)
Profit from operations
7,511,052
6,519,052
2,423,408
1,976,860
Other income
481,900
246,324
255,345
114,876
Finance cost
(802,608)
(860,732)
(314,630)
(289,030)
Profit before tax and WPPF
7,190,344
5,904,644
2,364,123
1,802,706
Contribution to WPPF
(351,606)
(286,781)
(116,347)
(86,901)
Profit before tax
6,838,738
5,617,863
2,247,776
1,715,805
Income tax expenses
(1,577,731)
(1,243,136)
(521,780)
(349,247)
Current tax
(1,580,974)
(1,293,986)
(517,572)
(369,934)
Deferred tax
3,243
50,850
(4,208)
20,687
Profit after tax
5,261,007
4,374,727
1,725,996
1,366,558
Profit/(loss) attributable to:
Owners of the Company
5,231,738
4,350,901
1,721,356
1,364,518
Non-controlling interest
29,269
23,826
4,640
2,040
5,261,007
4,374,727
1,725,996
1,366,558
Other comprehensive income/(loss)
1
-
-
-
Total comprehensive income
5,261,008
4,374,727
1,725,996
1,366,558
Total comprehensive income attributable to:
Owners of the Company
5,231,739
4,350,901
1,721,356
1,364,518
Non-controlling interest
29,269
23,826
4,640
2,040
5,261,008
4,374,727
1,725,996
1,366,558
Earnings per share (EPS)
11.73
9.75
3.86
3.06
Beximco Pharmaceuticals Limited and its Subsidiaries
Consolidated statement of changes in equity (Un-audited)
For the period July 2024-March 2025
For the period July 2024-March 2025
Taka '000
Share capital
Share premium
Excess of issue price over Face value of GDRs
Capital reserve on merger
Revaluation surplus
Unrealized gain/(loss)
Retained earnings
Equity attributable to owners of the company
Non-controlling interest
Total equity
Balance as on July 01, 2024
4,461,121
5,269,475
1,689,637
294,951
1,137,306
18,148
35,079,327
47,949,965
3,952,938
51,902,903
Total comprehensive income:
Profit/(loss) for the period
-
-
-
-
-
-
5,231,738
5,231,738
29,269
5,261,007
Other comprehensive income/(loss)
-
-
-
-
-
1
-
1
-
1
Transactions with the shareholders:
Cash dividend
-
-
-
-
-
-
(1,784,448)
(1,784,448)
(33,687)
(1,818,135)
Others:
Adjustment for depreciation on revalued assets
-
-
-
-
(3,325)
-
3,325
-
-
-
Adjustment for deferred tax on revalued assets
-
-
-
-
748
-
-
748
-
748
Balance as on March 31, 2025
4,461,121
5,269,475
1,689,637
294,951
1,134,729
18,149
38,529,942
51,398,004
3,948,520
55,346,524
Net asset value (NAV) per share
Tk.
115.21
For the period July 2023-March 2024
Share capital
Share premium
Excess of issue price over Face value of GDRs
Capital reserve on merger
Revaluation surplus
Unrealized gain/(loss)
Retained earnings
Equity attributable to owners of the company
Non-controlling interest
Total equity
Balance as on July 01, 2023
4,461,121
5,269,475
1,689,637
294,951
1,141,178
18,148
30,806,194
43,680,704
3,938,962
47,619,666
Total comprehensive income:
Profit/(loss) for the period
-
-
-
-
-
-
4,350,901
4,350,901
23,826
4,374,727
Transactions with the shareholders:
Cash dividend
-
-
-
-
-
-
(1,561,392)
(1,561,392)
(23,267)
(1,584,659)
Others:
Adjustment for depreciation on revalued assets
-
-
-
-
(3,747)
-
3,747
-
-
-
Adjustment for deferred tax on revalued assets
-
-
-
-
843
-
-
843
-
843
Balance as on March 31, 2024
4,461,121
5,269,475
1,689,637
294,951
1,138,274
18,148
33,599,450
46,471,056
3,939,521
50,410,577
Net asset value (NAV) per share
Tk.
104.17
Beximco Pharmaceuticals Limited and its Subsidiaries
Consolidated statement of cash flows (Un-audited)
For the period July 2024-March 2025
July 2024 -
March 2025
Taka '000
July 2023 -
March 2024
Cash flows from operating activities
Cash receipts from customers and others
36,394,207
33,160,408
Cash paid to suppliers and employees
(30,100,181)
(24,573,460)
Cash generated from operations
6,294,026
8,586,948
Interest paid
(769,431)
(853,639)
Interest received
18,479
2,626
Income tax paid
(1,322,242)
(1,137,217)
Net cash generated from operating activities
4,220,832
6,598,718
Cash flows from investing activities
Acquisition of property, plant and equipment
(2,220,342)
(1,372,788)
Intangible assets
(164,411)
(205,266)
Disposal of property, plant and equipment
40,123
25,252
Dividend received
975
1,143
Short term investment
(700,000)
(200,000)
Net cash used in investing activities
(3,043,655)
(1,751,659)
Cash flows from financing activities
Net increase/(decrease) in long term borrowings
47,161
(910,718)
Net increase/(decrease) in short term borrowings
1,390,117
(2,351,356)
Dividend paid
(1,593,640)
(1,568,205)
Net cash from/(used in) financing activities
(156,362)
(4,830,279)
Increase/(decrease) in cash and cash equivalents
1,020,815
16,780
Opening cash and cash equivalents
854,106
1,135,686
Effect of exchange rate changes on cash and cash equivalents
8,179
7,958
Closing cash and cash equivalents
1,883,100
1,160,424
Net operating cash flows per share
9.46
14.79
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