DSE serve query after Meghna PET shares soar 225% in four months
According to DSE data, Meghna Pet’s share price soared from Tk17.5 in mid-January to Tk58.80 on Monday, before slipping 3.06% to Tk57 today (19 May)
The Dhaka Stock Exchange (DSE) has issued a query notice to Meghna PET Industries over an unusual surge in its share price, which jumped 225% in the last four months despite the company's factory remaining shut for years.
According to DSE data, Meghna Pet's share price soared from Tk17.5 in mid-January to Tk58.80 on Monday, before slipping 3.06% to Tk57 today (19 May).
Founded in 1997, the company manufactures polyethylene terephthalate (PET) bottles. However, a DSE inspection team found that its factory has remained closed since 2002.
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The company has also been unable to pay dividends due to mounting losses, leading to its placement in the Z category.
Despite its prolonged production suspension and financial weakness, the stock posted an abnormal rally, prompting the DSE to issue a query notice on 18 May.
In response, the company informed the DSE that there was no undisclosed price-sensitive information behind the recent sharp rise in its share price and trading volume.
As of April 2026, sponsor-directors held 43.55% of the company's shares, institutional investors 6.35%, while general investors owned 50.10%.
For the first nine months (July-March) of the current fiscal year, Meghna PET Industries reported a loss per share of Tk0.63, up from Tk0.53 in the corresponding period a year earlier.
In its audit report for the year ended 30 June 2025, the company's auditor raised concerns over accounting irregularities, saying property, plant and equipment worth Tk98.67 crore were reported although management failed to properly maintain books of accounts.
Moreover, the company revalued its property, plant and equipment through Lam International Inspection Ltd, which is not an approved valuer of the Bangladesh Securities and Exchange Commission.
In the statement of profit or loss and other comprehensive income, it showed administrative expenses shown amount of Tk38 lakh but management of the company didn't maintain books of accounts properly. As such we are unable to verify such expenses.
