Yusuf Flour makes debut on SME platform today

Company's net profit drops 9.72pc in nine months

FE REPORT | July 28, 2022 00:00:00

Yusuf Flour Mills, an over-the-counter market company, makes debut trading today (Thursday) on the DSE SME Platform.

The DSE trading code for Yusuf Flour Mills is "YUSUFLOUR" and the company code is 74003, according to a filing with the Dhaka Stock Exchange (DSE) Wednesday.

Yusuf Flour Mills is the 16th listed firm under the SME platform. The SME platform started its journey on September 30 last year, creating an opportunity for small and medium enterprises (SMEs) to raise capital from the stock market.

The reference price of the company will be the last closing price on the over-the-counter (OTC) market on May 3, 2012, when it was Tk 23.80.

The circuit breaker and circuit filter (price limit) shall remain operative from the first trading day at DSE SME platform.

Yusuf Flour Mills was sent to the OTC market 13 years back after the company failed to comply with the securities rules.

Last year Bangladesh Securities and Exchange Commission (BSEC) selected seven operational OTC companies, including Yousuf Flour Mills, to bring back to the SME platform.

Of them, four companies -- Bengal Biscuits, Apex Weaving and Finishing Mills, Wonderland Toys, and Himadri-- have already started trading on the DSE SME platform since September 30, 2021.

The company's nine months profit after tax fell 9.72 per cent to Tk 2.23 million for July 2021-March 2022 as against profit after tax of Tk 2.47 million for the same period of the previous year.

However, its three months profit after tax rose to Tk 0.91 million as against profit after tax of Tk 0.80 million for the same period of the previous year.

The company's net asset value (NAV) per share was Tk 34.55 as on 31 March 2022 and Tk 30.42 as 30 on June 2021.

The net operating cash flow per share (NOCFPS) was Tk 56.36 in negative for July 2021-March 2022 as against Tk 88.95 in minus for July 2020-March 2021.

The company disbursed 5.0 per cent cash dividend last in 2018. In 2017, the company disbursed 5.0 per cent cash and 3.0 per cent stock dividend, according to available data with the DSE.

The company's authorised capital is Tk 20 million and paid-up capital is Tk 6.0 million while total number of securities is 606,800.

Sponsor-directors own 53.64 per cent stake in the company while institutional investors 0.07 per cent and the general public 46.29 per cent.

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