The earnings per share (EPS) of Shasha Denim Ltd plunged more than 66 per cent year-on-year in nine months from July, 2019 to March, 2020.
The company’s consolidated EPS stood at Tk 1.21 for July 2019-March 2020 period as against Tk 3.58 for July 2018-March 2019, according to an official disclosure on Tuesday.
In three months for January-March 2020, EPS was Tk 0.13 as against Tk 1.55 for January-March 2019.
The company officials said the significant fall of EPS compared to the previous year caused due to almost no operation of Energis Power Corporation (a major subsidiary of the company) as the PPP contract expired in July 2019 and the company consequently suffered a loss of Tk 103.23 million.
On the other hand, in the previous period, the company earned a capital gain of Tk 121.10 million, but during this period, the company did not have such income.
Besides, the cost of fabrics and financial charges has also increased significantly which also impacted the company’s profit, a company official said.
The company’s consolidated net operating cash flow per share (NOCFPS) was Tk 2.24 in the negative for July 2019-March 2020 as against negative Tk 0.12 for July 2018-March 2019.
Its consolidated net asset value (NAV) per share was Tk 53.45 as on March 31, 2020 and Tk 44.26 as on June 30, 2019.
The NOCFPS has been decreased due to increase in accounts receivable, advance, deposit and prepayment during the period, he said.
The NAV has been increased significantly due to increase of assets value of EOS Textile Mills Ltd which is added in the consolidated financial statements, he added.
Shasha Denims acquired 80 per cent stake of EOS Textile Mills last year.
Each share of the company, which was listed on the Dhaka Stock Exchange in 2015, closed at Tk 21.60 on Monday.
Its shares traded between Tk 18 and Tk 48.30 in the last one year.
The company disbursed 5.0 per cent cash and 5.0 per cent stock dividend for the year ended on June 30, 2019.
The company’s paid-up capital is Tk 1.34 billion and authorised capital is Tk 2.25 billion, while the total number of securities is 134.31 million.
The sponsor-directors own 37.57 per cent stake in the company, while the institutional investors own 19.26 per cent, foreign investors 1.12 per cent and the general public 42.04 per cent as on January 31, 2020, the DSE data showed.