Sonali Aansh posts 214% earnings jump in Q1
The company’s shares jumped 4.57% to Tk498.7 each on Sunday at the DSE
Jute-based products manufacturer Sonali Aansh Industries Ltd reported a 214% growth in earnings per share (EPS) to Tk0.44 in the July-September quarter of the ongoing 2021-22 fiscal year.
The company's board approved the financial statements for the quarter on 17 February, which were published on the Dhaka Stock Exchange (DSE) website on Sunday.
The profit growth of the company attracted investors to buy its shares at Tk498.7 each on Sunday, which was 4.57% higher compared to the previous trading session.
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On the day, 56,000 shares were traded for Tk2.82 crore while the total number of outstanding shares of the company is 27.12 lakh.
To explain the higher growth to the stock exchange, the company said that EPS has increased due to an increase in net profit.
At the end of the first quarter of FY22, its net asset value per share stood at Tk226.09 and the net operating cash flow per share Tk0.62.
Earlier, the company had paid a 10% cash dividend to its shareholders for FY21. Last year, the company's EPS was Tk1.13, up by 82% compared to the previous year.
But its auditor said the company did not charge the depreciation against their asset, which is why its net asset value and profit were overstated.
Sonali Aansh's paid-up capital is only Tk2.71 crore. The securities regulator asked the company recently to submit the plan to raise the capital to Tk30 crore.
It got listed with the stock exchange in 1985. In the listing year, Beximco Group was the owner of the company. Later, the business conglomerate exited the company's board.
