Matin Spinning posts 130% profit surge riding on higher sales

Matin Spinning Mills, a concern of DBL Group and a listed textile sector company, posted a remarkable profit growth of over 130% year-on-year in the 2024-25 fiscal year, driven by higher revenue.

Despite reporting significant profit growth, the company has declared a 35% cash dividend for FY25 – the lowest since FY21.  

In the previous four years, it had paid cash dividends in the range of 40% to 50%. Lastly, in FY24, it had paid a 50% cash dividend to its shareholders.

The annual general meeting (AGM) of FY24 has been scheduled for 9 December through the digital platform, and to identify its shareholders, the record date has been fixed for 13 November.

Profit surges 130%

Matin Spinning, an export-oriented company engaged in manufacturing and sale of combed, carded cotton, mélange and synthetic yarn from raw cotton, polyester and viscose fibre, reported a profit of Tk45.79 crore with an earnings per share (EPS) of Tk4.70 in FY24.

At the same time of the previous fiscal year, its profit was Tk19.89 and EPS of Tk2.04, according to its audited financial statement. 

The company reported Tk875.25 crore revenue with a year-on-year growth of 8.78% over the previous year. In FY24, its revenue was Tk804.53 crore. 

Regarding the increase in revenue, the company in its statement said sales revenue increased compared to the last year due to both volume and price. "The full capacity utilisation of our newly installed special yarn unit, along with existing units has helped to achieve significant growth of sales revenue over the last year," it states.

Regarding EPS surges, it said EPS increased from Tk2.04 to Tk4.70 due to an increase in sales price and revenue and there were no other significant extraordinary transactions during this year. 

As per its statement, in FY24, its net operating cash flow was negative of Tk10.67, but at the end of FY25, its cash became positive at Tk11.67, meaning cash inflow increased significantly. 

It said cash flow increased by 209% in the current period ended on 30 June 2025 over the previous fiscal year. 

The company stated this significant cash inflow was largely due to the realisation of letters of credit, which led to a decrease in accounts receivable by Tk47.41 crore from Tk241.62.

Additionally, its sales in FY24 increased by Tk70.71 crore. For these reasons current period collection from customers increased by 30% to Tk215.13 crore, it said.

Its net asset value with revaluation reserve increased to Tk681.38 crore, up from Tk562.33 crore in FY24.