Sectors & Industries
Sector-level research on the industries driving Bangladesh's economy, from manufacturing and energy to financial services.
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The newest research from Empire Capital's sectors & industries desk.
Featured researchCox’s Bazar 60 MW Wind Power Plant: Capacity Factor Research
How much electricity does a 60 MW wind power plant actually deliver? Empire Capital Research examines 30 days of operating data from Cox’s Bazar’s 60 MW wind facility, covering 15 September to 14 October 2026. According to National Load Dispatch Centre (NLDC) records, the plant generated 3,987.84 MWh against a theoretical maximum of 43,200 MWh, resulting in an observed capacity factor of 9.23%. Daily performance varied significantly, while just four September days accounted for 66.51% of the period’s total generation. Our research highlights the distinction between installed renewable energy capacity and electricity actually delivered, offering important insights for investors, energy planners, policymakers, and industry stakeholders. The findings are observational and do not establish the causes of lower output.
Read the publicationMore from Sectors & Industries
01BSRM Steels Leads Q4 Earnings Momentum While BSRM Ltd Maintains Strong Annual Growth
BSRMSTEEL delivered the stronger Q4 earnings momentum, with implied EPS rising 18.74% q/q and 62.15% y/y to Tk 7.54. BSRMLTD’s implied Q4 EPS reached Tk 8.00, up 27.80% y/y but down 8.57% q/q. Both companies reported higher FY26 revenue, EPS and proposed cash dividends, while BSRMSTEEL showed the stronger earnings acceleration.
02Apex Foods Limited (APEXFOODS), Equity Research Report
Apex Foods Limited (APEXFOODS) surged 19.58% to Tk 311.50 on 5 October 2026 following the release of its FY2025-26 results, which showed EPS of Tk 14.21 versus Tk 6.41 in the previous year, while the company maintained a 20% cash dividend. Empire Capital Research examines whether the earnings improvement and price breakout represent a sustainable rerating. The report reviews five-year financial performance, earnings quality, cash flow, valuation, technical structure, shareholder positioning and the company's exposure to Apex Spinning & Knitting Mills. Despite stronger momentum, key considerations include the concentration of FY2025-26 earnings in the fourth quarter, dependence of reported NAV on listed investments, low capacity utilization and liquidity risk.
03Brent Crude Oil: Forward Price Trend Outlook
Brent crude remains elevated amid near-term geopolitical and supply risks, but the futures curve continues to signal a downward normalization path through 2027. Empire Capital Research expects high event-driven volatility through late 2026, followed by a gradual easing in prices as supply conditions improve and demand pressures build.
04Capital Market Exposure of Scheduled Banks in Bangladesh
A bank-by-bank survey of capital market exposure across 30 listed scheduled banks: paid-up capital, shareholder equity, portfolio value at market against cost holding, and unrealised gain or loss, followed by the top three losers and gainers for each bank and its subsidiaries.
05Power Sector Analysis: Listed Electricity Generation Companies
A continuation of Empire Capital's April 2013 power sector coverage, updated for 2013, 2014 and Q1/Q3 2015. Covers plant-level capacity and load factors, three years of ratio analysis, dividend payout, per-megawatt-hour sales, a SWOT assessment and stock recommendations across KPCL, SPL, Baraka, SPPCL, SPCL and UPGDCL.
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