Bangladesh Thai Aluminium’s net profit tumbled 98 per cent for the year ended on June 30, 2022, compared to the previous year due to higher raw material prices and freight charges and dull economic conditions.
In fiscal year (FY) 2021-22, the pioneer in the aluminium industry has reported net profit of only Tk 2.56 million as against Tk 160 million in the previous fiscal year.
As a result, its earnings per share (EPS) dropped to Tk 0.02 as against Tk 1.25 in the previous fiscal year.
The company’s net asset value (NAV) per share is reported at Tk 28.33 and net operating cash flow per share (NOCFPS) of Tk 0.51 for the year ended June 30, 2022, Tk 28.11 and negative Tk 0.14 respectively for the same period of the previous year
Amid the slump in profits, the board of directors recommended no dividend for the year ended on June 30, 2022.
BD Thai disbursed just 2.0 per cent cash dividend last fiscal year. In 2020, it provided 3.0 per cent cash and 3.0 per cent stock dividend.
The company said in its disclosure, an annual general meeting (AGM) will be held on 27 December through a digital platform. The record date is November 23.
Bangladesh Thai Aluminium commenced operations in 1979. The company manufactures and markets high-quality aluminium profiles for doors, windows, curtain walls, partitions, false ceilings, automobiles and railway windows, tower bolts and other industrial products.
Listed in 1991, its share remained stuck at the floor -- at Tk 17 -- in the last month.