Loss-making Zeal Bangla, Shyampur sugar mills hit upper limit
Shares of two loss-making state-owned sugar mills, Zeal Bangla Sugar Mills and Shyampur Sugar Mills, hit their daily upper limit of 10% today (13 March), despite their ongoing financial struggles, according to Dhaka Stock Exchange (DSE) data.
On the last trading day of the week, Zeal Bangla Sugar Mills' share price surged by 10% to Tk94.6, while Shyampur Sugar Mills gained 9.93%, closing at Tk127.2.
According to financial reports, Zeal Bangla Sugar Mills incurred a loss of Tk22.17 crore in the first half of the current fiscal year (July–December FY25), with a loss per share of Tk36.95.
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In the same period of the previous fiscal year, the company posted a loss of Tk22.02 crore, with a loss per share of Tk36.71.
The company has been consistently making losses for years and has not paid any dividends to shareholders.
In FY 2023-24, its loss amounted to Tk44.63 crore, while its cumulative loss over the past five fiscal years (FY20–FY24) stood at Tk276.82 crore.
Similarly, Shyampur Sugar Mills reported a net loss of Tk11.67 crore – a loss of Tk23.24 per share – in the first half of FY25. In the same period last year, its losses stood at Tk10.53 crore, with a loss per share of Tk21.07.
For FY24, Shyampur Sugar Mills' total loss amounted to Tk24.41 crore, while its accumulated losses over the past five years (FY20–FY24) reached Tk195.97 crore.
