Earnings Report /
Bangladesh

Marico Bangladesh: FY 19-20: Annual EPS grew by 31%

  • Annual EPS of BDT84.01 underperforms our expectations by c6%

  • Earnings grew by c9% generating EPS of BDT16.15 in Q4 FY 19-20

  • Dividend payout of 113% surpassed our expectations

Auneea Haque
Auneea Haque

Research Associate

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IDLC Securities
1 May 2020
Published byIDLC Securities

Annual EPS of BDT84.01 underperforms our expectations by c6%. FY19-20 EPS increased by c31% yoy from BDT64.23 in FY 18-19. MBL’s earnings grew by only c9% in Q4 FY 19-20, generating EPS of BDT16.15 while earnings in the first 9 months of FY 19-20 grew by c37% yoy. After five quarters of generating double-digit bottom line growth, the company generated single-digit bottom line growth in Q4 FY 19-20.

Dividend payout of 113% surpassed our expectations. MBL declared BDT95 dividend per share for FY 19-20 (including BDT75 interim cash dividend) compared to our expectation of BDT85. MBL paid BDT65 dividend per share (c101% dividend payout) in FY 18-19. 

Please note that we will provide further updates when detailed financials are published by Marico in its annual report.