DSE finds Dominage Steel's Narsingdi factory closed
Dominage Steel's production activities were ongoing at its Ashulia unit, but the Narsingdi unit was shut down at the time of inspection, DSE confirmed
A recent inspection by the Dhaka Stock Exchange (DSE) has found that Dominage Steel Building Systems Limited's factory in Narsingdi is currently closed, while its Savar unit remains operational.
A DSE inspection team visited the company's two factory sites on 3 and 4 November to verify its operational status.
Following the visits, the DSE confirmed that Dominage Steel's production activities were ongoing at its Ashulia unit, but the Narsingdi unit was shut down at the time of inspection, according to the disclosure filed today (5 November).
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Following the announcement, Dominage Steel's shares dropped by 2.62% to close at Tk22.30.
The inspection followed earlier concerns raised in the media reports suggesting that Dominage Steel had ceased its factory operations. In response to a DSE query on 28 September, the company clarified the next day that its factory had not been completely shut down.
In its latest letter to the DSE, the company dismissed the media reports as "negative and misleading," saying the coverage misrepresented its operations.
Dominage Steel described itself as a full-fledged engineering and construction firm, explaining that its factories mainly handle fabrication, painting, and other auxiliary work involving mild steel products, while the main project activities are carried out at various construction sites.
"As a result, it is not necessary for our factories to remain in continuous daily production," the company said, adding that its current operations rely largely on the Savar factory, where most of its production and project-related activities are concentrated.
Meanwhile, Dominage Steel's board has recommended a 0.35% cash dividend for general shareholders, excluding sponsors and directors, for the fiscal year that ended on 30 June 2025.
The company also reported earnings per share (EPS) of Tk0.05, a net asset value (NAV) per share of Tk17.16, and net operating cash flow per share of Tk0.45 for FY2024–25, compared to EPS of Tk0.03, NAV per share of Tk17.13, and net operating cash flow per share of Tk0.40 in the previous fiscal year.
Dominage Steel listed on the bourse in 2020. Currently, its share is being traded under B category due to the failure to pay over 5% dividend.
Out of its total shares, sponsors and directors hold 30.20%, while institutional investors have 15.97%, foreign investors 0.17% and the remaining 53.66% shares hold by public.
