Square Pharmaceuticals (SQURPHARMA) Q4 24/25 earnings summary

Executive summary

• Consolidated net revenue rose 8.83% year-over-year to BDT 76.29 billion, with consolidated net profit up 14.54% to BDT 23.97 billion and EPS at BDT 27.04.

• Standalone net revenue increased 0.31% to BDT 59.98 billion, but standalone net profit fell 5.47% to BDT 14.74 billion and EPS declined to BDT 16.63, mainly due to strategic product transfers to a subsidiary.

• Export revenue grew 5.59% to BDT 2.53 billion, and the company maintained its #1 market position with a 17.41% share.

• Dividend payout increased 9.09% to BDT 10.64 billion, with a 120% cash dividend recommended.

Financial highlights

• Consolidated retained earnings rose 11.17% to BDT 126.89 billion; standalone retained earnings up 5.25% to BDT 100.05 billion.

• Gross margin (standalone) declined to 43.10% from 45.60% year-over-year; net profit margin (after tax) fell to 24.57% from 26.07%.

• Net operating cash flow per share (standalone) was BDT 17.96, down from BDT 19.96.

• Market capitalization stood at BDT 185.18 billion.

Outlook and guidance

• The domestic pharmaceutical market in Bangladesh is projected to surpass BDT 1 trillion within the decade, with continued export growth expected.

• Ongoing investments in API production and the Munshiganj API Park are set to reduce import dependence and enhance competitiveness.

• The company is pursuing a BDT 6.5 billion BMRE program to upgrade capacity and capture future growth.