IDLC Securities
IDLC Securities

IDLC Securities

Coverage: Bangladesh
IDLC is a leading brokerage firm in Bangladesh and a trusted name to both international & domestic investors with its proven track record of research expertise, quality corporate access, and standards of regulatory compliance and corporate ethics.
Location: Dhaka

Latest articles from IDLC Securities

Summit Power Ltd: 3Q 21 earnings up by 10% due to higher power generation; Reiterate BUY

SUMITPOW BD reported 3Q FY21 NPAT of BDT1,455mn (EPS: BDT1.36), implying a c10% yoy increase against NPAT of BDT1,323mn (EPS: BDT1.24) in 3Q FY 20. 9M 21 NPAT stood at BDT4,465mn (EPS: BDT4.17) vs BDT4,354mn (EPS: BDT4.08) in 9M 20. This is because t...
IDLC Securities Joy
Joy Bhattacharjee @ IDLC Securities 11 May 2021

Square Pharmaceuticals: Q3FY21 – c7% yoy NPAT growth driven by c5% sales growth, rise in associate NPAT

Earnings grew by 6.8% yoy in Q3 FY21 and 10.8% yoy in 9M FY21. The EPS in 9M FY21 was BDT13.1 (NPAT BDT11,632mn) against BDT11.8 (NPAT BDT10,501mn) in 9M FY20. Revenue grew by 5.2% yoy in Q3 FY21 and 9.1% in 9M FY21. Though its revenue from the pharm...
IDLC Securities Tanay
Tanay Kumar Roy @ IDLC Securities 10 May 2021

Bangladesh cement: Preferential tariff discontinued; Low impact on valuation

LHBL to pay BDT902.5mn on account of the pending gas bills. The Honourable Court directed LHBL to pay the disputed amount to Jalalabad Gas Transmission & Distribution Systems Ltd. (JGTDS). As of CY20, LHBL paid BDT1,886mn for gas fuel expenses. As LH...
IDLC Securities Joy
Joy Bhattacharjee @ IDLC Securities 5 May 2021

Runner Automobiles Ltd: 3Q 21 – c13% revenue growth amid volume recovery; reiterate Hold

Consolidated 3Q FY 21 revenue stood at BDT2,771mn, up by c13% yoy. People opted for cheaper options like light and medium-duty vehicles. RUNNERAU cashed on consumers’ limited spending spree. OPEX/sales improved by 200bps on the back of similar level ...
IDLC Securities Joy
Joy Bhattacharjee @ IDLC Securities 4 May 2021

Reckitt Benckiser Bangladesh: NPAT grew by +22% with +6% top-line growth and margin expansion; Reiterate Buy

NPAT grew by 22.3% YoY amid 6.4% revenue growth, lower opex/sales, and effective tax rate. Reckitt posted Q1 CY21 NPAT of BDT138.9mn (EPS of BDT29.39) against BDT113.6mn (EPS of BDT24.04) in the same quarter previous year, surpassing our expectations...
IDLC Securities Auneea
Auneea Haque @ IDLC Securities 3 May 2021

Unilever Consumer Care: 1Q 21 – Revenue grew after seven quarters but yet to add to the bottom line

Sales grew by c14% on the back of greater product availability, affordability, and effective marketing, beating our expectations. NPAT declined by c32% YoY due to c683bps shrink in GPM and higher effective tax. 683bps GPM shrink, c87% de-growth in ne...
IDLC Securities Auneea
Auneea Haque @ IDLC Securities 3 May 2021