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TUESDAY, JUNE 10, 2025
Shasha Denims to invest Tk155cr for capacity expansion

Stocks

Salah Uddin Mahmud
13 April, 2023, 11:30 pm
Last modified: 13 April, 2023, 11:42 pm

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Shasha Denims to invest Tk155cr for capacity expansion

Salah Uddin Mahmud
13 April, 2023, 11:30 pm
Last modified: 13 April, 2023, 11:42 pm
Shasha Denims to invest Tk155cr for capacity expansion

Highlights
●    Will install 105 looms machines
●    Invest in GA Garments
●    EGM on 5 June
●    Record date 11 May
●    Tk18.33cr net profit in FY23 H1
●    Tk1.33 EPS


Shasha Denims Limited is going to invest around Tk155 crore to expand its production capacity in order to meet the growing demand for its products. 

The company will install 105 loom machines in its plot at the Dhaka Export Processing Zone (DEPZ). The new project is expected to add Tk350 crore in the company's annual revenue. 

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Company Secretary Aslam Ahmed Khan told The Business Standard that the company has already issued a work order in this regard. 

"We will implement the expansion project within one year, and the fund will come from the company's own sources and through bank loans."

After the expansion, the production capacity will be 13.5 lakh whole denim cloths per month, he said.

"Sometimes, we get more buy orders than our current production capacity. As a result, we have to subcontract in order to deliver those orders. But after the capacity expansion, subcontracting won't be necessary," he added. 

The company is also planning to invest in GA Garments Ltd, where the directors have common interest. 

Aslam Ahmed Khan said, "We have a complete shed building in the DEPZ area. The company directors will propose GA Garments to use the shed for establishing a new factory after the approval of the general shareholders."

The estimated value of the shed is Tk26 crore. If GA Garments uses this shed, it will pay 50% value through equity and 50% in cash, he further added.

Shasha Denims will arrange an Extraordinary General Meeting (EGM) on 5 June 2023 for shareholders' approval of the investment in GA Garments. The record date has been set on 11 May this year.  

Shasha Denims was listed on the stock exchanges in 2015. It mainly manufactures, dyes, weaves, finishes, and finally exports denim fabric. 

In the July to December period of 2022, its consolidated net profit stood at Tk18.33 crore, which was Tk12.83 crore in the same period of 2021.

Its consolidated earnings per share stood at Tk1.33 and net asset value per share at Tk40.50 as of December 2022.

As of 31 March 2023, the sponsors and directors jointly held 37.56%, institutions 22.67%, and the general public 39.47% shares in the company.

The last trading price of each share of the company on the Dhaka Stock Exchange was Tk27 on Thursday.

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