Paramount Textile given AA rating
Paramount Textile Limited has received an AA credit rating for the long term and ST-1 in the short term, based on its audited financials and other relevant information up to 30 June 2021.
The ratings, announced by Alpha Credit Rating Limited, signify a company's strong capacity to repay stockholders and a good position in the stock market.
The ratings indicate a company's financial excellence, health, franchise sustainability, and a first-class operating environment.
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Earlier in 2020, the rating agency rated the company as AA in the long term and ST-1 in the short term.
The textile company was listed on the stock exchange in 2013. It raised Tk84 crore with a Tk18 premium against each share at Tk10 face value from the capital market with an initial public offering (IPO).
From July to March FY22, the company made a net profit of Tk63.82 crore, which was Tk52.78 crore in the same period of 2021.
During the period, its revenue stood at Tk462.14 crore, which was Tk375.25 crore one year ago.
The company had earnings per share of Tk3.92 and its net asset value per share was Tk28.91 as of 31 March 2022.
As of 31 August 2022, sponsors and directors owned 60.95%, institutions 9.55%, foreign investors 4.20%, and general investors held 25.30% shares of the company.
The last closing share price of the company on the Dhaka stock exchange was Tk77 on Tuesday.
