Miracle Industries posts higher loss for Q3 despite surge in sales

Miracle Industries Limited (MIL) reported a higher loss of Tk 35.92 million in the third quarter of FY26 compared to the same quarter of the previous year, despite a 100 per cent increase in sales.
Earnings per share (EPS) for January-March this year stood at Tk (1.02), compared with Tk (0.64) in January-March 2025. For the nine-month period from July 2025 to March 2026, EPS was Tk (2.40), versus Tk (1.63) for the same period a year ago.
MIL declared its Q3 results on the Dhaka Stock Exchange (DSE) website on Monday. The company attributed its recent sales growth to higher demand from the Bangladesh Chemical Industries Corporation (BCIC), a government entity that operates fertilizer factories and other chemical industries and regularly procures industrial materials in bulk.
According to MIL, a plastic packaging manufacturer, turnover increased by approximately 98 per cent year-on-year, driven largely by supplies under BCIC contracts. It, however, has not provided the exact figure of the revenue.
Despite the sales surge, profitability was heavily impacted by rising costs.
As a manufacturer of PP woven bags, laminated bags, and jumbo bags for packaging cement, fertilizer, sugar, food grains, and chemicals, MIL relies on oil-based raw materials. Prices of key inputs such as polyethylene (PE) and polypropylene (PP) have risen sharply due to the ongoing Israel-US-Iran conflict, which is disrupting global energy and chemical markets.
In addition to the raw material price hikes, freight and logistics costs have surged due to higher marine insurance premiums, rerouted shipping, longer transit times, and fuel surcharges.
The company disclosed that the cost of oil-based raw materials alone has increased by 50-70 per cent, resulting in higher losses and a negative EPS.
Meanwhile, MIL's share price fell 4.51 per cent to Tk 25.40 on the Dhaka bourse on Monday.
According to the disclosure, in order to meet increasing demand for fertiliser bags from the BCIC, an investment programme to increase production from 3 crore to 5 crore WPP bags has been approved by the board of directors.

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