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Himadri makes debut on CSE SME board today

The SME firm's net profit jumps 68pc in Jul-Dec

FE REPORT | April 11, 2023 00:00:00

Himadri Ltd, a subsidiary of Ejab Group, will begin trading shares on the Chittagong Stock Exchange's (CSE) SME Platform today (Tuesday) under the 'N' category.

The company, which operates six potato cold storage facilities in northern Bangladesh, previously began trading shares on the Dhaka Stock Exchange's (DSE) SME Platform on September 30, 2021.

Since June 30 of last year, the company's stock price has been stuck at Tk 35.30 on the DSE Platform, and it will serve as the reference price at the CSE.

Himadri was one of six companies to join the DSE SME board on September 30, 2021, having transitioned from the over-the-counter (OTC) market.

The CSE SME Platform started operation on June 10, 2021. Currently, 13 SME companies are listed with the CSE SME Platform.

Meanwhile, the company's net profit soared 68 per cent year-on-year to Tk 37.95 million in July-December 2022.

The company's net operating cash flow per share (NOCFPS) was Tk 93.10 for July-December 2022 as against Tk 51.00 for July-December 2021.

The company's net asset value (NAV) per share was Tk 1,876.72 as on December 31, 2022, and Tk 1,825.70 as on June 30, 2022.

Incorporated in 1974, Himadri operates potato cold storage facilities in Rangpur, Bagura, Joypurhat, Thakurgaon, Gaibandha, and Dinajpur.

Currently, the company's paid-up capital is Tk 7.50 million and authorised capital is Tk 20 million, while the total number of securities is 0.75 million.

The sponsor-directors own 98.43 per cent of the shares while the government owns 1.48 per cent and the general investors only 0.09 per cent as of June 2022.

The company's future plan is to increase the number of cold storage facilities in different locations of the country and also to expand the product range such as fruits and vegetables, according to its website.

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