The board of directors of Standard Ceramic Industries Ltd has decided to open letter of credit (LC) for importing new capital machinery to enhance production capacity and reduce the production cost.
The brand new capital machinery to rebuild the Old Glost Kiln for ceramic industrial furnace would cost approximately Tk 45 million, according to an official disclosure on Wednesday.
The board of directors of the company also decided to import a brand new jiggering machine at a cost of Tk 4.50 million (approximately).
The company expected that the production capacity will be increased and the production cost will be reduced, as a result.
Earlier on October 29 last year, the board decided to import Tunnel Kiln worth Tk 10 million (approx.), Grinding Machine of Tk 1.0 million (approx.), Rollar Head Machine of Tk 3.70 million (approx.) and Rebuilt of Old Kiln.
Standard Ceramic is now in 'Z' category as the company declared 'no' dividend for the year ended on June 30, 2017.
The company, which was listed on the Dhaka Stock Exchange (DSE), disbursed 10 per cent cash dividend for the year ended on June 30, 2016.
The company's share price soared 6.07 per cent over the previous day to close at Tk 137.90 each on Wednesday.
In the last one year, its share traded between Tk 65.40 and Tk 184.90 each.
The company's earnings per share (EPS) was Tk 0.54 in nine months for July 2017-March 2018 as against minus Tk 1.58 for July, 2016-March, 2017.
The net operating cash flow per share (NOCFPS) was minus Tk 0.31 for July 2017-March 2018 as against minus Tk 0.26 for July 2016-March 2017.
The net asset value (NAV) per share was Tk 14.05 as on March 31, 2018 and Tk 13.51 as on June 30, 2017.
The company's paid-up capital is Tk 64.61 million and authorised capital is Tk 100 million, while the total number of securities is 6.46 million.
The sponsor-directors own 28.50 per cent stake in the company, institutional investors 4.29 per cent, foreign 0.02 per cent and the general public 67.19 per cent as on August 31, 2018, the DSE data shows.
