RSRM incurs Tk38cr loss in FY21
Ratanpur Steel Re-rolling Mills (RSRM) Limited has incurred a loss of Tk38 crore for the year that ended on 30 June 2021.
The company's revenue also decreased by 55% to Tk145 crore in FY21, compared to the previous year.
As per the company's financial statements, the main reason behind the loss was the decrease in RSRM's production and sales because the company's procurement of raw materials was severely hampered due to Covid-19.
Keep updated, follow The Business Standard's Google news channel
Also, it purchased raw materials from local suppliers at a high cost.
The annual general meeting (AGM) of RSRM will be held on 30 December 2021. The record date for the AGM will be 8 December.
The loss per share of the company stood at Tk3.75 at the end of FY21.
Founded in 1984, the Chattogram-based Ratanpur Group has established itself as one of the leading steel companies. The industrial group has an annual turnover of around Tk700 crore.
RSRM was listed on the stock exchanges in 2014. Its paid-up capital is Tk101.19 crore.
As of 31 October 2021, the sponsors and directors jointly held 30% shares, institutions 34.60%, and the general public held 35.40% shares in the company.
The last trading price of each share of the company at the Dhaka Stock Exchange was Tk23.70 on Thursday.
