According to an official disclosure posted by the company on Dhaka Stock Exchange (DSE) website on Sunday, Berger Paints reported consolidated EPS of Tk52.22 and consolidated net asset value (NAV) per share of Tk204.20 for the year ended on March 31, 2020 as against Tk44.27, Tk176.97, respectively for the same period of the previous year.
The company’s EPS surged by 18% riding on declining raw material prices in the international market, an official says.
The annual general meeting (AGM) of the company will be held on July 28 at 10:00am through a digital platform. The record date for dividend entitlement is July 12.
Meanwhile, the board of directors of the company has decided to invest Tk76.05 million in its associate company-Berger Fosroc Limited.
“The board of directors has resolved that the company will invest a tentative amount of Tk76.05 million in the ordinary share capital of Berger Fosroc where Berger Paints Bangladesh has 50 per cent equity holding,” said the disclosure.
Berger Paints Bangladesh, market leader in Bangladesh Paints industry, and UK-based construction solutions provider Fosroc International, a global leading company in the field of construction chemicals, formed “Berger Fosroc Limited” in 2018.
Berger Paints Bangladesh was listed on the Dhaka Stock Exchange in 2006. The company belongs to “A” category. The company’s paid-up capital is Tk46 crore. A share of the company closed at Tk1,308.60 each on Sunday.
The company disbursed 150% cash dividend for the year that ended on March 31, 2019.
A recent study of LankaBangla Investment Ltd reveals that above 80% of the country’s paint market is in the hands of foreign brands. They include Berger, Asian, Roxy, Pailac, Aqua, and Elite. Berger alone holds 52% market share, followed by Asian Paints 18%, Roxy 7%, Elite 7%, Pailac 5%, and Aqua paints 2%, the study elaborated. Local paint companies, now around 30, have less than 20% market share, the study adds. ♦
