Global Heavy Chemicals posts big loss, declares no dividend amid gas shortage
The firm has faced challenges for several years, with declining profits prompting customers to turn to alternative suppliers
Global Heavy Chemicals, a leading industrial chemical manufacturer, reported a hefty loss and announced no dividend for the fiscal year 2024-25, attributing the setback to a severe regional gas shortage. The decision was made during the company's board meeting on Thursday.
For FY 2024-25, the company posted a loss per share (LPS) of Tk2.19, down from Tk7.58 in the previous year, with a net loss of Tk15.77 crore compared to Tk54.58 crore in FY 2023-24. Its net asset value per share stood at Tk71.89 at the close of the fiscal year.
Following the disclosure, Global Heavy's shares fell sharply on the Dhaka Stock Exchange, dropping 7.27% to close at Tk20.40 on Sunday. The company has not yet fixed a date for its annual general meeting (AGM) to approve the no-dividend recommendation and other agenda items, though the record date has been set for 29 December 2025.
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Company Secretary Khondoker Ahadduzzaman told The Business Standard that the company is grappling with a severe production crisis due to the ongoing gas shortage, which has forced an 85% halt in operations. The limited remaining production, powered by electricity, is insufficient to cover costs, resulting in continuous losses.
Global Heavy has repeatedly urged Titas Gas to resolve the issue, but the supplier has stated it cannot increase gas pressure until the broader shortage is addressed, leaving the company's production and financial health in jeopardy.
The firm has faced challenges for several years, with declining profits prompting customers to turn to alternative suppliers. Incorporated in 2000 and listed in 2013, Global Heavy Chemicals has been a key player in Bangladesh's chlor-alkali sector, producing import substitutes such as caustic soda, hydrochloric acid, bleaching powder, chlorine, sodium hypochlorite, and chlorinated paraffin wax, while also exporting chlorine to India.
Beyond industrial chemicals, the company manufactures toiletries and household cleaning products, including disinfectants, dishwashing liquids, and floor and toilet cleaners. As of 31 October 2025, sponsors and directors hold 68.60% of shares, institutional investors 10.71%, and the general public 20.69%.
