The board of directors of Wata Chemicals Limited has approved BMRE by setting up of units and plants at the factory to enhance production capacity.
The company said through a disclosure on Wednesday that the board has taken decisions for BMRE (Balancing, Modernization, Rehabilitation and Expansion) of 18,000 MT per annum capacity of Sulphuric Acid Plant Unit-1.
The board has also decided to set-up of new aluminium sulphate (ALUM) Plant Unit-2 for 12,000 MT per annum.
The board has also decided to set-up Linear Alkail Benzene Sulphonic Acid/Sodium Lauryl Ether Sulphate (SLES) plant for 7,200 MT per annum at its factory in Narayangonj.
Approval has been given for obtaining necessary finance of Tk 509.10 million from Agrani Bank, Principal Branch, Dhaka, said the disclosure.
The board has also approved for establishment of a poly Aluminium Chloride Plant of 4,500 MT per annum at the factory premises.
Recently, Wata Chemicals opened its second sulfuric acid plant built at an investment of nearly Tk 300 million.
Sulfuric acid is mostly used in production of fertiliser, in refining water and petroleum and in manufacturing other chemicals such as hydrochloric acid, nitric acid, sulfate salts, synthetic detergents, and dyes and pigments.
Each share of the company closed at Tk 500.80 on Monday last at Dhaka Stock Exchange (DSE).
The company disbursed 10 per cent cash and 30 per cent stock dividend for the year ended on June 30, 2018.
The company has reported (un-audited) earnings per share (EPS) of Tk 2.85 for October-December 2018 as against Tk 0.49 for October-December 2017.
In six months for July-December 2018, EPS was Tk 5.56 as against Tk 1.31 for July-December 2017.
The NOCFPS was Tk 2.06 for July-December 2018 as against Tk 1.76 for July-December 2017.
The NAV per share was Tk 63.67 as on December 31, 2018 and Tk 58.88 as on June 30, 2018.
The sponsor-directors own 36.41 per cent stake in the company, while institutional investors own 38.02 per cent and the general public 25.57 per cent as on February 28, 2019.
The company’s paid-up capital is Tk 118.58 million and authorised capital is Tk 150 million, while total number of securities is 11.85 million, according to statistics from the DSE.
