Shyampur Sugar Mills incurs losses again
Shyampur Sugar Mills Limited, already knee-deep in losses for around two decades, has again incurred losses in the 2021-22 fiscal year and in the first quarter of the current 2022-23 fiscal.
In FY22, the company's loss amounted to Tk26 crore, which was Tk62.56 crore in FY21.
In the first quarter of FY23, its loss per share stood at Tk19.30, which was Tk21.62 in the same period of FY22.
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Owing to losses, it failed to declare any dividends for its shareholders.
The government has suspended the company's operations indefinitely because of its recurring losses, high production costs, and net capital deficiency for operations.
According to its FY22 financial statements, the company's turnover reduced significantly to Tk66 lakh, from Tk15.35 crore in FY21.
Shyampur Sugar Mills was listed on the stock exchange in 1996.
As on 30 September 2022, the government holds 51%, institutional investors 1.34%, and general shareholders hold 47.66% shares in the company.
Its last trading price of each share was Tk98.20 on Monday at the Dhaka Stock Exchange.
