Two concerns of Aramit Group post mixed performances in Q3
Aramit Ltd and Aramit Cement – two concerns of the Aramit Group – posted mixed financial performances in the January to March quarter of the ongoing fiscal.
While Aramit Ltd made a decent profit, Aramit Cement fell into losses.
Aramit Ltd
In the third quarter of fiscal 2021-22, the company's revenue increased 60% to Tk19.2 crore, from Tk16.32 crore in the same quarter of the previous fiscal.
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During the period, its profit jumped 95% to Tk1.21 crore, from Tk0.62 crore in the third quarter of the previous year.
Aramit Ltd was listed on the Dhaka Stock Exchange (DSE) in 1984.
It has a reputation for making products from scratch. It produces large-section and lightweight corrugated sheets, flat sheets, mouldings, and pipes.
The current size of the cement sheet market is around Tk1,100 crore, and this is increasing by 10% every year.
Anwar Cement Sheet has taken over more than 50% of the market, while Aramit Ltd has 25%. Woodland and Mariam each have a 10% share in the sheet market.
Aramit Cement
On the other hand, Aramit Cement's revenue in the March quarter decreased by 60% to Tk62.50 crore from Tk155 crore in the same period of the previous fiscal year.
During the period, the cement maker suffered a loss of Tk25.8 crore because of the price hike of raw materials, and sluggish business.
Its loss per share stood at Tk7.62 and the net asset value per share at Tk21.57 as of March 2022.
