BD Thai profit surpasses the pre-pandemic level

0
212
BD Thai profit surpasses the pre-pandemic level
BD Thai profit surpasses the pre-pandemic level

BD Thai profit surpasses the pre-pandemic level
In fiscal 2020-21, the pioneer in the aluminium industry posts a 512% growth in profit to Tk16.03 crore

Bangladesh Thai Aluminium Limited, which took a blow last year, has surpassed the pre-pandemic level in terms of profit.

In fiscal 2020-21, the pioneer in the aluminium industry posted a 512% growth in profit to Tk16.03 crore compared to the previous fiscal year.

According to its financials, the revenue reached the pre-pandemic level in FY21 to Tk120.36 crore – a 58% jump from the previous year.

In fiscal 2018-2019, the revenue stood at Tk121.22 crore and profit at Tk6.97 crore.

Due to the pandemic, the revenue decreased to Tk76.24 crore and profit to Tk2.62 crore in FY20.

Despite an amazing growth amid the pandemic, the manufacturer of aluminium products will pay less dividend, compared to the previous year, to its shareholders for spending retained earnings on development work.

BD Thai has recommended just a 2% cash dividend for its general shareholders, while its sponsors and promoters will forgo their dividends in the greater interest of the company, it said.

But in FY20, when the company logged a much lesser profit, it had paid 3% cash and 3% stock dividend.

The company said in its disclosure, an annual general meeting (AGM) will be held on 27 December through a digital platform.

To identify the shareholders for dividend, the record date has been fixed on 28 November.

Development work from retained earnings

The company has decided to use the retained earnings of FY21 in its development work, which will be implemented in the next financial year.

The company hopes the development work will help it post a higher growth and obtain a stronger base. It will also ensure a better return from investments in the long run.

As per the decision, it will procure a new extraction machine for higher productivity and better quality, and peripheral equipment for capacity un-gradation.

It will build a shed and a building along with landfilling and land development.

The company said it will overhaul extraction plants and futuristic development plan and structural up-gradation for the potential stainless steel manufacturing facility.

Bangladesh Thai Aluminium commenced operations in 1979. It was listed on the Dhaka Stock Exchange in 1991 and issued two lakh shares.

The price of every share was Tk100 and it collected Tk20 crore to repay loans. Further, it collected Tk8.38 crore in 2001, Tk75 crore in 2010, and Tk52 crore in 2016 to repay loans and expand the company.

Bangladesh Thai Aluminium manufactures high-quality aluminium profiles for doors, windows, curtain walls, partitions, false ceilings, automobiles, railway windows, vertical blinds, signboards, and ladders.

Currently, Thai Aluminium has a reserve and surplus of Tk159.13 crore.

Its paid-up capital is Tk127.77 crore. The share price of the company was Tk16.40 each on 4 November.

LEAVE A REPLY

Please enter your comment!
Please enter your name here