DSE confirms Libra Infusions still in operation

The Dhaka Stock Exchange (DSE) has confirmed that Libra Infusions Limited is currently operational, following a site inspection at the company's head office and factory premises. 

The visit was carried out on Sunday with the approval of the Bangladesh Securities and Exchange Commission (BSEC).

The confirmation follows an earlier inspection on 14 July this year, when a DSE team found the company's factory at Mirpur Industrial Estate closed. The observation raised concerns among investors regarding the company's operational status.

In response, Libra Infusions clarified on 21 July that its production had been temporarily halted from 13 July to 16 July for urgent maintenance work. 

The company said production resumed in full on 17 July and requested the cooperation of stakeholders in meeting its production targets.

Despite the assurance of continued operations, investors remain uncertain about the company's financial standing. Libra Infusions has not published any financial statements since fiscal year 2021, leaving a significant information gap. 

In that year, the company reported a net profit of Tk0.02 crore, recovering slightly from a loss of Tk1.16 crore in the previous fiscal year.

Company officials attributed the delay in disclosures to the failure to hold its annual general meeting (AGM) on time. Although the firm later obtained High Court approval to conduct the overdue meeting, no further financial results have been released.

Libra Infusions last declared dividends on 22 October 2023, offering a record 30% cash and 50% stock dividend for FY2020-21. The stock dividend was aimed at boosting its paid-up capital.

Today, Libra shares closed 1.43% lower at Tk800.90 on the Dhaka bourse.