Stocks
Gachihata makes Tk 140cr profit but isn’t paying a penny to the investors
One of the listed firms on DSE, Gachihata Aquaculture, is making big profits from previous losses, the previous year, 2021, the company made a profit of Tk 140cr. But the company never gives anything to its investors. Earlier, the company deceived its investors by showing previous losses, This information is known from DSE sources.
From the sources, The firm, Gachihata Aquaculture is listed in the over-the-counter (OTC) market and announced the resumption of business, a few months back. On August 10, the company’s board of directors had a meeting with the regulatory body Bangladesh Securities and Exchange Commission (BSEC). Despite a loss of Tk 17 crore in 2020, the company’s financial report for 2021 shows a profit of around Tk 140 crore.
According to the financial report of Gachihata Aquaculture for the year 2021, the company’s EPS for the year 2021, was 672 taka 67 paisa. The total income of the company is 139 crore 24 lakh 20 thousand 437 taka.
The loss per share of the company in 2020 was 84 taka 77 paisa. That year, the company made a total loss of 17 crore 54 lakh 68 thousand 527 taka. There have also been accused that the company has been deceiving investors by showing losses for several years.
It is also known that Gachihata Aquaculture Farms is an agricultural company listed on the DSE. Despite owning 109 acres of land, the company has been in a bad shape for the past two decades due to lack of working capital. Gachihata Aquaculture was listed on DSE in 1998. Since 2002, it has been shifted to the OTC market due to failure to operate and pay any dividends.
On September 16 last year (2021), BSEC announced the abolition of the OTC market. As a result, BSEC has decided to transfer the companies covered by the OTC market to the SME platform and Alternative Trading Board (ATB) based on their financial records and future prospects. In line with this, the regulatory body shifted Gachihata Aquaculture from the OTC market to the SME platform in 2021.
From the data given on DSE website, 56.02pc shares of Gachihata Aquaculture are held by ordinary investors. Entrepreneur directors hold 25.86pc shares. The remaining 18.12pc shares are held by institutional investors.
In 2021, Gachihata Aquaculture has not paid any dividend to the ordinary shareholders who have invested in the company despite earning 672 taka 67 paisa per share. Even investors are not informed about the EPS.
When asked about the income in 2021, the Managing Director of Gachihata Aquaculture Farms Major (Retd.) Akhtaruzzaman did not stated anything. However, he said that the board meeting of the company is being held regularly. In response to a question, he said, there is nothing to inform the investors about the board meeting.
Dhaka Stock Exchange DSE, Bourse on the last working day of the week, 2nd May, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
710 crore 62 lakh taka shares were traded on this day. 125 crore 9 lakh more tradings were done in DSE today compared to the previous workday, 30th April , Shares worth Tk 835 crores 72 lakh shares were traded last time, Tuesday.
The benchmark DSEX added 30.99 points or 5,615 The Shariah-based index DSES gained 4.92 points or 1,232, and the blue-chip index DS30 increased by 12.55 points or 2,007.
Of the issues traded, 207 advanced, 140 declined and 48 remained unchanged.
Sinobangla Industries Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.95 percent. On this day, the share was last traded at Tk 44.20 paisa.
Rupali Bank PLC ranked top loser on the DSE, the share price dropped by Tk 4.10 paisa or 15.07 percent. On this day, the share was last traded at Tk 23.10 paisa.
DSE topped on trade is Sonali Aansh Limited 63 crore 49 lakh takas of company shares have been traded.
A total of 43 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 67 lakh 76 thousand 965 shares of the companies were traded. The financial value of which is 70 crore 01 lakh taka
8 listed mutual funds disclose their financial reports for the third quarter, (January – March 24). This information is known from DSE sources.
SEML FBLSL Growth Fund: earnings per unit (EPU) loss Tk 0.74 paisa in Q3 of the current financial year (January – March 24). EPU was Tk 0.08 paisa during the same period last year. NAV per unit at Market Price was Tk. 9.35 as of March 31, 2024 & NAV per unit at Cost Price was Tk. 10.50 as of March 31, 2024.
SEML Lecture Equity Management Fund: earnings per unit (EPU) loss Tk 0.55 paisa in Q3 of the current financial year (January – March 24). EPU was Tk 0.11 paisa during the same period last year. NAV per unit at Market Price was Tk. 9.47 as of March 31, 2024 & NAV per unit at Cost Price was Tk. 11.12 as of March 31, 2024.
AB Bank 1st Mutual Fund: earnings per unit (EPU) loss Tk 1.24 paisa in Q3 of the current financial year (January – March 24). EPU was Tk 0.04 paisa during the same period last year. NAV per unit at Market Price was Tk. 8.87 as of March 31, 2024 & NAV per unit at Cost Price was Tk. 11.22 as of March 31, 2024.
Popular Life First Mutual Fund: earnings per unit (EPU) loss Tk 1.55 paisa in Q3 of the current financial year (January – March 24). EPU was Tk 0.04 paisa during the same period last year. NAV per unit at Market Price was Tk. 8.49 as of March 31, 2024 & NAV per unit at Cost Price was Tk. 10.98 as of March 31, 2024.
EBL NRB Mutual Fund: earnings per unit (EPU) loss Tk 1.50 paisa in Q3 of the current financial year (January – March 24). EPU was Tk 0.05 paisa during the same period last year. NAV per unit at Market Price was Tk. 8.67 as of March 31, 2024 & NAV per unit at Cost Price was Tk. 10.97 as of March 31, 2024.
PHP First Mutual Fund: earnings per unit (EPU) loss Tk 1.50 paisa in Q3 of the current financial year (January – March 24). EPU was Tk 0.02 paisa during the same period last year. NAV per unit at Market Price was Tk. 8.54 as of March 31, 2024 & NAV per unit at Cost Price was Tk. 10.93 as of March 31, 2024.
Green Delta Mutual Fund: earnings per unit (EPU) loss Tk 0.94 paisa in Q3 of the current financial year (January – March 24). EPU was loss Tk 0.02 paisa during the same period last year. NAV per unit at Market Price was Tk. 9.06 as of March 31, 2024 & NAV per unit at Cost Price was Tk. 10.33 as of March 31, 2024.
DBH First Mutual Fund: earnings per unit (EPU) loss Tk 1.07 paisa in Q3 of the current financial year (January – March 24). EPU was loss Tk 0.018 paisa during the same period last year. NAV per unit at Market Price was Tk. 8.92 as of March 31, 2024 & NAV per unit at Cost Price was Tk. 10.19 as of March 31, 2024.
One of the Listed companies, Standard Bank PLC has recommended 2.5% Cash Dividend & 2.5% stock Dividend for the year ended December 31, 2023.
In terms of financial performance, The Company has also reported Consolidated EPS of Tk. 1.27 for the year ended December 31, 2023. NAV per share of Tk. 16.93 paisa.
The Annual General Meeting (AGM) of the company will be held on July 29, through the digital platform. The record date for this has been fixed at June 11.
