Eastern Lubricants share soars by Tk657 in a month
Eastern Lubricants is the highest valuable company among the listed state-owned entities
The share price of state-owned Eastern Lubricants Blenders Ltd surged by Tk657 within just one month at the Dhaka Stock Exchange (DSE).
On 27 February, the company's stock was trading at Tk1,337.6. By 24 March, it had surged 49% to Tk1,995.2.
Following this sharp rise, the DSE issued a query to the company regarding the unusual price movement. In response, Eastern Lubricants stated on 25 March that there was no undisclosed, price-sensitive information driving the recent surge in share price and trading volume.
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After the clarification, the stock declined by 4.09% on 25 March, closing at Tk1,913.50, as investors engaged in profit booking, according to market insiders.
Eastern Lubricants is the highest valuable company among the listed state-owned entities.
As of February shareholding report, government holds 51% stake in the company, while sponsors and directors have 15.04%, institutional investors 8.22% and the remaining 25.74% hold by the general investors.
Interest income boost profit in H1
Eastern Lubricants reported that its net profit jumped by 222% in the July-December period of FY25, mainly driven by robust interest income from deposits, according to the company's un-audited financial statement.
During the period, its net profit stood at Tk2.53 crore, which was Tk0.71 crore in the previous year at the same time.
At the end of December, its earnings per share stood at Tk17.59, which was Tk5.47 a year ago.
In that time, the company's revenue stood at Tk31.27 crore, with a gross profit of Tk1.08 crore. However, it earned a substantial Tk3.10 crore in interest from its deposits. The company currently holds fixed deposits around Tk60 crore.
Eastern Lubricants paid an 80% cash and 10% stock dividends for the last fiscal year.
