AMCL-Pran sees 63% growth in sales in 6 years

Agricultural Marketing Company Limited (AMCL-Pran) has witnessed a 63 percent in its sales in the last six accounting years.

Listed with the share market, the company has provided 32 percent cash dividend to its shareholders in each of the last six years.

In keeping with that trend, the shareholders of the company on Saturday approved a 32 percent cash dividend at the Annual General Meeting of the company for the 2018-19 accounting year.

Company Chairman Ahsan Khan Chowdhury, Managing Director Eleash Mridha, Directors Uzma Chowdhury, Sabiha Amjad, Independent Director Md Abdus Salam, Chief Financial Officer Mohammad Yamin, Director (Marketing) Chowdhury Kamaruzzaman, Director (Accounts) Choudhury Atiur Rasul, and Company Secretary Abdur Rahman, among others, were present at the meeting.

Products 

AMCL-Pran has been producing various food items such as juice, drinks, mineral water, soft drinks, ice pop, mango bar, etc.

The total sale of the company in the fiscal year 2013-14 was Tk172.72 crore and Tk282.18 crore in the fiscal year 2018-19, a 63 percent increase in the last six years.

However, the net profit of the company has not increased accordingly. Its net profit was Tk5.55 crore in the fiscal year 2013-14 and Tk5.84 crore in the fiscal year 2018-19. 

"The production cost increased in the last six years. The cost of raw materials for packaging also increased substantially." Ahsan Khan Chowdhury, chairman of AMCL-PRAN told the shareholders.

"The management reviewed the wages of the workers according to the existing labour law and increased wages due to inflation in food items, which has impacted the production cost adversely. So, we failed to achieve more net profit growth," he added.

Exports

In the last couple of years, the company emphasised export revenue. Due to natural disasters and some unavoidable circumstances the company was not able to collect expected revenue from exports. In 2018-19 accounting year, exports of the company declined after recording growth in the previous three consecutive years.

In the 2013-14 fiscal year, the export revenue of the company stood at Tk34.82 crore. In the next four fiscal years, the company achieved 267 percent growth from export revenue which stood at Tk127.87 crore. In the last fiscal year, export dropped by 31 percent to Tk88.22 crore.

The chairman of AMCL-PRAN said the management had taken necessary measures to boost the foreign earnings in upcoming days.

Share performance

The company has Tk8 crore paid-up capital. It was listed with Dhaka and Chittagong Stock Exchanges in 1996.

On Thursday, the closing price of its share on the Dhaka Stock Exchange was Tk174.20. In last one year, the maximum share price of the company was Tk280 and the minimum price was Tk171.20.