Equity Analysis /
Bangladesh

Singer Bangladesh: Sales recovery and tax rate cut to improve bottom-line; Reiterate Buy

  • Singer’s revenue is recovering driven by high remittance inflow, low interest rates, lifestyle and environmental changes

  • Gross margin may decline by 100bps in 2021 from the usual level because of rising raw material import costs

  • Better receivable management to lower bad debt; lower interest rate and 250bps tax rate cut to favour Singer’s earnings

Tanay Kumar Roy
Tanay Kumar Roy

Research Analyst

Shopnil Paul
Shopnil Paul

Research Associate

IDLC Securities
14 June 2021
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