Cash flow RAK Ceramics (Bangladesh) Limited

Equities

RAKCERAMIC

BD0634RAKCR4

Construction Supplies & Fixtures

End-of-day quote Dhaka S.E. Other stock markets 2025-06-22			5-day change	1st Jan Change
18.60 ^BDT	-2.11%		-2.62%	-17.70%

May. 15	RAK Ceramics Limited, Q1 2025 Earnings Call, May 15, 2025
May. 05	RAK Ceramics Limited Reports Earnings Results for the First Quarter Ended March 31, 2025	CI

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Published financial data: RAK CERAMICS (BANGLADESH) LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	5.29B	6.85B	7.45B	7.82B	6.67B
Total Revenues	5.29B	6.85B	7.45B	7.82B	6.67B
Cost of Goods Sold, Total	4.11B	4.83B	5.5B	5.89B	5.55B
Gross Profit	1.18B	2.02B	1.95B	1.93B	1.12B
Selling General & Admin Expenses, Total	764M	901M	996M	1.06B	908M
Provision for Bad Debts	677K	276K	2.93M	16.95M	-9.87M
Other Operating Expenses	-2.79M	-	-	-	-
Other Operating Expenses, Total	762M	901M	999M	1.07B	898M
Operating Income	415M	1.12B	952M	859M	225M
Interest Expense, Total	-13.32M	-5.7M	-26.58M	-41.28M	-163M
Interest And Investment Income	51.55M	44.82M	48.91M	30.9M	13.66M
Net Interest Expenses	38.23M	39.11M	22.34M	-10.37M	-149M
Income (Loss) On Equity Invest.	-	-	-	-	-
Currency Exchange Gains (Loss)	-1.48M	-2.58M	-79.49M	-27.38M	-16M
Other Non Operating Income (Expenses)	-4.87M	-2.11M	-3.21M	-2.56M	-8.8M
EBT, Excl. Unusual Items	447M	1.15B	892M	819M	51.54M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	1.18M	-	-	-	-
Asset Writedown	-476K	-	-1.87M	-899K	76.77K
Insurance Settlements	-	-	-	-	-
EBT, Incl. Unusual Items	448M	1.15B	890M	818M	51.62M
Income Tax Expense	137M	249M	218M	200M	78.95M
Earnings From Continuing Operations	311M	905M	672M	618M	-27.33M
Net Income to Company	311M	905M	672M	618M	-27.33M
Minority Interest	-121	-204	-118	-41	-16
Net Income - (IS)	311M	905M	672M	618M	-27.33M
Net Income to Common Incl Extra Items	311M	905M	672M	618M	-27.33M
Net Income to Common Excl. Extra Items	311M	905M	672M	618M	-27.33M
Per Share Items
Net EPS - Basic	0.73	2.12	1.57	1.44	-0.06
Basic EPS - Continuing Operations	0.73	2.12	1.57	1.44	-0.06
Basic Weighted Average Shares Outstanding	428M	428M	428M	428M	428M
Net EPS - Diluted	0.73	2.12	1.57	1.44	-0.06
Diluted EPS - Continuing Operations	0.73	2.12	1.57	1.44	-0.06
Diluted Weighted Average Shares Outstanding	428M	428M	428M	428M	428M
Normalized Basic EPS	0.65	1.69	1.3	1.2	0.08
Normalized Diluted EPS	0.65	1.69	1.3	1.2	0.08
Dividend Per Share	1	1.25	1	1	1
Payout Ratio	204.1	51.46	79.64	69.82	-1.57K
Supplemental Items
EBITDA	862M	1.57B	1.39B	1.32B	735M
EBITA	418M	1.12B	952M	864M	233M
EBIT	415M	1.12B	952M	859M	225M
EBITDAR	864M	1.57B	1.4B	1.32B	743M
Effective Tax Rate - (Ratio)	30.59	21.57	24.51	24.42	152.95
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	137M	301M	250M	258M	144M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-132K	-51.93M	-31.77M	-58.72M	-64.87M
Normalized Net Income	279M	721M	557M	512M	32.21M
Interest on Long-Term Debt	3.33M	1.15M	1.32M	4.07M	5.53M
Non-Cash Pension Expense	45.69M	49.3M	45.48M	36.98M	48.13M
Supplemental Operating Expense Items
Advertising Expense	44.28M	74.97M	115M	93.96M	83.5M
Marketing Expenses	8.84M	14.92M	20.08M	28.3M	26.14M
Selling and Marketing Expenses	414M	522M	623M	639M	569M
General and Administrative Expenses	325M	321M	327M	377M	329M
Net Rental Expense, Total	2.23M	1.71M	1.43M	1.88M	8.57M
Imputed Operating Lease Interest Expense	1.81M	271K	730K	803K	8.1M
Imputed Operating Lease Depreciation	419K	1.43M	698K	1.08M	470K
Maintenance & Repair Expenses, Total	608M	783M	846M	881M	732M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	1.95B	2.28B	1.28B	842M	424M
Total Cash And Short Term Investments	1.95B	2.28B	1.28B	842M	424M
Accounts Receivable, Total	997M	1.22B	1.52B	2.48B	2.76B
Other Receivables	11.52M	6.6M	1.09M	888K	822K
Notes Receivable	-	-	-	-	-
Total Receivables	1.01B	1.23B	1.52B	2.48B	2.76B
Inventory	2.06B	3.06B	3.46B	3.82B	3.54B
Prepaid Expenses	24.83M	17.88M	28.15M	9.82M	8.19M
Other Current Assets, Total	3.8B	4.09B	4.31B	4.38B	4.59B
Total Current Assets	8.84B	10.67B	10.6B	11.54B	11.33B
Gross Property Plant And Equipment	8.51B	8.49B	9.53B	10.19B	10.67B
Accumulated Depreciation	-5.35B	-5.65B	-6.08B	-6.15B	-6.66B
Net Property Plant And Equipment	3.16B	2.83B	3.44B	4.04B	4.01B
Other Intangibles, Total	3.13M	2.03M	676K	4.12M	9.91M
Deferred Tax Assets Long-Term	-	-	-	-	15.53M
Other Long-Term Assets, Total	503M	503M	503M	503M	503M
Total Assets	12.52B	14.01B	14.55B	16.08B	15.86B
Liabilities
Accounts Payable, Total	407M	610M	501M	914M	847M
Accrued Expenses, Total	662M	877M	951M	999M	1.06B
Short-term Borrowings	120M	430M	373M	722M	966M
Current Portion of Long-Term Debt	-	-	-	11.24M	112M
Current Portion of Leases	4.51M	4.81M	5.43M	12.21M	15.4M
Current Income Taxes Payable	3.97B	4.27B	4.52B	4.71B	4.82B
Unearned Revenue Current, Total	9.52M	9.75M	7.66M	11.15M	36.86M
Other Current Liabilities	117M	158M	434M	416M	125M
Total Current Liabilities	5.29B	6.36B	6.79B	7.79B	7.98B
Long-Term Debt	-	-	-	364M	449M
Long-Term Leases	9.29M	4.9M	13.16M	45.66M	56.42M
Deferred Tax Liability Non Current	192M	140M	108M	49.34M	-
Total Liabilities	5.49B	6.51B	6.91B	8.25B	8.49B
Common Stock, Total	4.28B	4.28B	4.28B	4.28B	4.28B
Additional Paid In Capital	1.47B	1.47B	1.47B	1.47B	1.47B
Retained Earnings	1.27B	1.75B	1.88B	2.07B	1.62B
Total Common Equity	7.02B	7.5B	7.64B	7.83B	7.37B
Minority Interest	1.31K	1.42K	1.34K	1.38K	1.39K
Total Equity	7.02B	7.5B	7.64B	7.83B	7.37B
Total Liabilities And Equity	12.52B	14.01B	14.55B	16.08B	15.86B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	428M	428M	428M	428M	428M
ECS Total Common Shares Outstanding	428M	428M	428M	428M	428M
Book Value / Share	16.41	17.53	17.85	18.29	17.23
Tangible Book Value	7.02B	7.5B	7.64B	7.82B	7.36B
Tangible Book Value Per Share	16.4	17.52	17.84	18.28	17.2
Total Debt	134M	440M	391M	1.16B	1.6B
Net Debt	-1.82B	-1.84B	-884M	313M	1.17B
Debt Equivalent Oper. Leases	17.86M	13.64M	11.42M	15.04M	68.6M
Minority Interest, Total (Incl. Fin. Div)	1.31K	1.42K	1.34K	1.38K	1.39K
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	606M	1.33B	1.62B	1.14B	1.05B
Inventories - Work In Process, Total	47.29M	59.36M	72.29M	80.28M	182M
Inventories - Finished Goods, Total	566M	791M	699M	1.34B	1.22B
Inventories - Others	900M	896M	1.1B	1.07B	1.06B
Land - (BS)	342M	342M	1.03B	1.25B	1.25B
Buildings, Total	1.55B	1.57B	1.59B	1.06B	1.73B
Machinery, Total	6.43B	6.43B	6.62B	7.34B	7.2B
Full Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	9.9M	9.16M	12.08M	29.04M	19.17M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	311M	905M	672M	618M	-27.33M
Depreciation & Amortization - CF	459M	460M	452M	471M	523M
Amortization of Goodwill and Intangible Assets - (CF)	2.62M	290K	206K	4.87M	7.81M
Depreciation & Amortization, Total	461M	460M	452M	476M	531M
Amortization of Deferred Charges, Total - (CF)	1.23M	1.27M	1.14M	337K	364K
(Gain) Loss From Sale Of Asset	-	3.38M	1.87M	899K	44.08K
Asset Writedown & Restructuring Costs	476K	-	-	-	-
Other Operating Activities, Total	-49.63M	-54.09M	46.09M	59.89M	47.43M
Change In Accounts Receivable	-184M	-223M	-303M	-957M	-279M
Change In Inventories	759M	-963M	-415M	-175M	145M
Change In Accounts Payable	-70.26M	453M	165M	295M	-210M
Cash from Operations	1.23B	583M	619M	320M	208M
Capital Expenditure	-231M	-132M	-1.05B	-1.01B	-460M
Sale of Property, Plant, and Equipment	2.36M	3.33M	498K	2.16M	206K
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-493K	-450K	-	-8.8M	-13.96M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	82.29M	41.22M	46.73M	19.57M	7.31M
Cash from Investing	-147M	-88.33M	-999M	-994M	-466M
Short Term Debt Issued, Total	30.71M	310M	-	350M	244M
Long-Term Debt Issued, Total	-	-	-	375M	185M
Total Debt Issued	30.71M	310M	-	725M	429M
Short Term Debt Repaid, Total	-	-	-57.6M	-	-
Long-Term Debt Repaid, Total	-9.68M	-6.07M	-7.11M	-13.63M	-13.43M
Total Debt Repaid	-9.68M	-6.07M	-64.71M	-13.63M	-13.43M
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-634M	-466M	-535M	-432M	-428M
Common & Preferred Stock Dividends Paid	-634M	-466M	-535M	-432M	-428M
Other Financing Activities, Total	-18.87M	-5.84M	-23.3M	-39.19M	-146M
Cash from Financing	-632M	-167M	-623M	240M	-159M
Foreign Exchange Rate Adjustments	198K	161K	1.21M	-	155K
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	450M	327M	-1B	-434M	-418M
Supplemental Items
Cash Interest Paid	18.87M	5.1M	23.3M	39.19M	146M
Cash Income Tax Paid (Refund)	155M	277M	234M	178M	208M
Levered Free Cash Flow	1.02B	286M	-461M	-759M	-270M
Unlevered Free Cash Flow	1.02B	290M	-444M	-733M	-169M
Change In Net Working Capital	-534M	739M	446M	731M	367M
Net Debt Issued / Repaid	21.03M	304M	-64.71M	711M	415M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	2.05	5.28	4.17	3.51	0.88
Return on Total Capital	3.54	9.27	7.45	6.31	1.57
Return On Equity %	4.32	12.46	8.87	8	-0.36
Return on Common Equity	4.32	12.46	8.87	8	-0.36
Margin Analysis
Gross Profit Margin %	22.25	29.49	26.17	24.74	16.85
SG&A Margin	14.44	13.15	13.36	13.53	13.62
EBITDA Margin %	16.3	22.94	18.71	16.87	11.02
EBITA Margin %	7.9	16.35	12.77	11.05	3.5
EBIT Margin %	7.85	16.34	12.77	10.99	3.38
Income From Continuing Operations Margin %	5.87	13.21	9.01	7.91	-0.41
Net Income Margin %	5.87	13.21	9.01	7.91	-0.41
Net Avail. For Common Margin %	5.87	13.21	9.01	7.91	-0.41
Normalized Net Income Margin	5.28	10.53	7.48	6.55	0.48
Levered Free Cash Flow Margin	19.21	4.18	-6.18	-9.7	-4.05
Unlevered Free Cash Flow Margin	19.37	4.23	-5.96	-9.37	-2.53
Asset Turnover
Asset Turnover	0.42	0.52	0.52	0.51	0.42
Fixed Assets Turnover	1.66	2.29	2.38	2.09	1.66
Receivables Turnover (Average Receivables)	5.84	6.18	5.43	3.91	2.55
Inventory Turnover (Average Inventory)	1.67	1.89	1.69	1.62	1.51
Short Term Liquidity
Current Ratio	1.67	1.68	1.56	1.48	1.42
Quick Ratio	0.56	0.55	0.41	0.43	0.4
Operating Cash Flow to Current Liabilities	0.23	0.09	0.09	0.04	0.03
Days Sales Outstanding (Average Receivables)	62.65	59.07	67.18	93.44	143.75
Days Outstanding Inventory (Average Inventory)	219.14	193.37	216.33	225.9	242.86
Average Days Payable Outstanding	48.87	31.82	34.29	41.38	61.19
Cash Conversion Cycle (Average Days)	232.92	220.62	249.22	277.96	325.41
Long Term Solvency
Total Debt/Equity	1.9	5.87	5.12	14.76	21.68
Total Debt / Total Capital	1.87	5.54	4.87	12.86	17.81
LT Debt/Equity	0.13	0.07	0.17	5.23	6.85
Long-Term Debt / Total Capital	0.13	0.06	0.16	4.56	5.63
Total Liabilities / Total Assets	43.88	46.45	47.52	51.33	53.52
EBIT / Interest Expense	31.14	196.3	35.82	20.82	1.39
EBITDA / Interest Expense	65.77	277.04	52.81	32.35	4.65
(EBITDA - Capex) / Interest Expense	48.42	253.82	13.46	7.97	1.82
Total Debt / EBITDA	0.15	0.28	0.28	0.87	2.11
Net Debt / EBITDA	-2.07	-1.16	-0.63	0.23	1.55
Total Debt / (EBITDA - Capex)	0.21	0.3	1.09	3.51	5.4
Net Debt / (EBITDA - Capex)	-2.81	-1.27	-2.47	0.95	3.96
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-18.18	29.54	8.79	4.91	-14.7
Gross Profit, 1 Yr. Growth %	-37.83	75.18	-3.45	-0.85	-41.55
EBITDA, 1 Yr. Growth %	-40.21	82.4	-11.47	-5.39	-44.31
EBITA, 1 Yr. Growth %	-58.82	168.2	-15.25	-9.23	-73.02
EBIT, 1 Yr. Growth %	-58.88	169.83	-15.24	-9.72	-73.78
Earnings From Cont. Operations, 1 Yr. Growth %	-58.8	191.38	-25.81	-7.92	-104.42
Net Income, 1 Yr. Growth %	-58.8	191.38	-25.81	-7.92	-104.42
Normalized Net Income, 1 Yr. Growth %	-55.96	158.29	-22.98	-8.13	-93.71
Diluted EPS Before Extra, 1 Yr. Growth %	-58.76	191.38	-25.81	-8.24	-104.43
Accounts Receivable, 1 Yr. Growth %	22.6	22.37	24.83	62.79	11.24
Inventory, 1 Yr. Growth %	-28.05	48.4	13.31	10.25	-7.33
Net Property, Plant and Equip., 1 Yr. Growth %	-1.89	-10.54	21.63	17.29	-0.79
Total Assets, 1 Yr. Growth %	-1.92	11.92	3.89	10.51	-1.37
Tangible Book Value, 1 Yr. Growth %	-4.46	6.81	1.84	2.45	-5.89
Common Equity, 1 Yr. Growth %	-4.5	6.79	1.82	2.49	-5.82
Cash From Operations, 1 Yr. Growth %	-22.49	-52.56	6.27	-48.37	-35.08
Capital Expenditures, 1 Yr. Growth %	-17.27	-42.73	689.78	-3.75	-54.31
Levered Free Cash Flow, 1 Yr. Growth %	-19.02	-71.83	-259.84	64.63	-64.38
Unlevered Free Cash Flow, 1 Yr. Growth %	-19.08	-71.72	-252.2	64.97	-77
Dividend Per Share, 1 Yr. Growth %	-33.33	25	-20	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-8.6	2.95	18.71	6.83	-5.41
Gross Profit, 2 Yr. CAGR %	-23.34	3.33	30.05	-2.16	-24.11
EBITDA, 2 Yr. CAGR %	-26.64	4.43	27.21	-8.48	-27.41
EBITA, 2 Yr. CAGR %	-40.39	5.09	51	-12.29	-50.52
EBIT, 2 Yr. CAGR %	-40.44	5.34	51.46	-12.53	-51.35
Earnings From Cont. Operations, 2 Yr. CAGR %	-40.94	9.57	47.03	-17.35	-79.83
Net Income, 2 Yr. CAGR %	-40.94	9.57	47.03	-17.35	-79.83
Normalized Net Income, 2 Yr. CAGR %	-38.17	6.65	41.25	-15.88	-75.96
Diluted EPS Before Extra, 2 Yr. CAGR %	-40.93	9.62	47.03	-17.49	-79.83
Accounts Receivable, 2 Yr. CAGR %	11.24	22.48	23.6	42.56	34.57
Inventory, 2 Yr. CAGR %	-18.47	3.33	29.67	11.77	1.08
Net Property, Plant and Equip., 2 Yr. CAGR %	-2.49	-6.31	4.32	19.44	7.87
Total Assets, 2 Yr. CAGR %	1.34	4.78	7.83	7.15	4.4
Tangible Book Value, 2 Yr. CAGR %	0.28	1.02	4.3	2.14	-1.81
Common Equity, 2 Yr. CAGR %	0.22	0.99	4.28	2.16	-1.75
Cash From Operations, 2 Yr. CAGR %	47.13	-39.36	-29	-25.92	-42.1
Capital Expenditures, 2 Yr. CAGR %	-13.33	-31.17	112.67	175.71	-33.69
Levered Free Cash Flow, 2 Yr. CAGR %	203.19	-52.24	-32.65	62.22	-23.42
Unlevered Free Cash Flow, 2 Yr. CAGR %	178.61	-52.16	-34.15	58.46	-38.4
Dividend Per Share, 2 Yr. CAGR %	4.88	-8.71	0	-10.56	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-8.73	2.67	4.86	13.92	-0.89
Gross Profit, 3 Yr. CAGR %	-24.11	0.31	1.02	18.81	-17.77
EBITDA, 3 Yr. CAGR %	-23.51	-0.62	-1.1	15.25	-22.45
EBITA, 3 Yr. CAGR %	-34.69	-1.6	-2.08	27.44	-40.79
EBIT, 3 Yr. CAGR %	-34.75	-1.45	-1.93	27.46	-41.46
Earnings From Cont. Operations, 3 Yr. CAGR %	-32.68	0.54	-3.79	25.79	-68.86
Net Income, 3 Yr. CAGR %	-32.68	0.54	-3.79	25.79	-68.86
Normalized Net Income, 3 Yr. CAGR %	-31.9	-0.42	-4.22	22.38	-64.56
Diluted EPS Before Extra, 3 Yr. CAGR %	-32.68	0.56	-3.75	25.65	-68.86
Accounts Receivable, 3 Yr. CAGR %	24.73	14.84	23.26	35.48	31.24
Inventory, 3 Yr. CAGR %	-6.66	-0.45	6.55	22.84	5
Net Property, Plant and Equip., 3 Yr. CAGR %	-2.71	-5.25	2.21	8.47	12.28
Total Assets, 3 Yr. CAGR %	2.01	4.75	4.48	8.72	4.23
Tangible Book Value, 3 Yr. CAGR %	2.86	2.41	1.29	3.68	-0.61
Common Equity, 3 Yr. CAGR %	2.85	2.36	1.26	3.68	-0.57
Cash From Operations, 3 Yr. CAGR %	-12.53	0.89	-26.89	-36.15	-29.11
Capital Expenditures, 3 Yr. CAGR %	-11.09	-24.51	55.25	63.28	51.44
Levered Free Cash Flow, 3 Yr. CAGR %	-11.68	37.31	-28.39	-9.28	-2.13
Unlevered Free Cash Flow, 3 Yr. CAGR %	-12.01	29.97	-29.47	-10.56	-16.72
Dividend Per Share, 3 Yr. CAGR %	6.56	11.2	-12.64	0	-7.17
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.89	3.89	1.39	4.31	0.63
Gross Profit, 5 Yr. CAGR %	-10.74	-3.38	-6.23	-0.69	-9.9
EBITDA, 5 Yr. CAGR %	0.17	-1.67	-6.25	-3.8	-12.61
EBITA, 5 Yr. CAGR %	-6.94	-3.2	-8.68	-5.96	-25.47
EBIT, 5 Yr. CAGR %	-6.94	-3.02	-8.61	-5.98	-25.91
Earnings From Cont. Operations, 5 Yr. CAGR %	-22.26	-0.22	-7.98	-7.04	-48.49
Net Income, 5 Yr. CAGR %	-22.26	-0.22	-7.98	-7.04	-48.49
Normalized Net Income, 5 Yr. CAGR %	-7.09	-2.15	-8.82	-6.87	-44.9
Diluted EPS Before Extra, 5 Yr. CAGR %	-22.26	-0.22	-7.98	-7.09	-48.48
Accounts Receivable, 5 Yr. CAGR %	12.48	17.37	24.27	25.21	27.67
Inventory, 5 Yr. CAGR %	-1.65	3.88	6.46	4.27	4.33
Net Property, Plant and Equip., 5 Yr. CAGR %	-3.88	-4.31	0.04	3.95	4.44
Total Assets, 5 Yr. CAGR %	3.08	4.65	4.3	5.7	4.45
Tangible Book Value, 5 Yr. CAGR %	3.08	4.2	3.43	2.3	0.04
Common Equity, 5 Yr. CAGR %	3.07	4.18	3.42	2.28	0.05
Cash From Operations, 5 Yr. CAGR %	6	-11.98	-19.53	-10.84	-33.41
Capital Expenditures, 5 Yr. CAGR %	-33.7	-25.73	26.02	26.74	10.47
Levered Free Cash Flow, 5 Yr. CAGR %	1.39	-1.01	-20.76	47	-26.44
Unlevered Free Cash Flow, 5 Yr. CAGR %	1.79	-2.27	-21.64	40.9	-33.18
Dividend Per Share, 5 Yr. CAGR %	-12.66	-4.51	3.88	1.92	-7.79