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Baraka Shikalbaha Power starts commercial operation

FE Report | Published: July 15, 2019 10:29:08 | Updated: July 16, 2019 10:37:40


The Baraka Shikalbaha Power Limited (BSPL) started commercial operation of its 105 mw HFO-fired IPP power plant situated at Shikalbaha in Chattogram.

BSPL is a 51 per cent subsidiary of Baraka Patenga Power Limited, where Baraka Power Limited has directly invested in 20 per cent equity and through cross holding aggregately holds 46.01 per cent ownership, said an official disclosure on Sunday.

The company informed that Bangladesh Power Development Board (BPDB) has declared dated July 11, 2019 on the commercial operation date (COD) of the plant with dependable capacity of 105 MW with effect from May 24, 2019.

BSPL signed a power purchase agreement with the state-owned Bangladesh Power Development Board (BPDB) on August 19, 2018, said the disclosure.

As per the agreement, the IPP plant implemented on a Build, Own, Operate (BOO) basis and the term is 15 years from the Commercial Operation Date (COD).

Baraka Power Limited, an 'A' category company, was listed on the local stock exchanges in 2011.

The power sector company's consolidated earnings per share (EPS) stood at Tk 1.27 for July 2018-March 2019 as against Tk 1.37 for July 2017-March 2018.

The consolidated net operating cash flow per share (NOCFPS) was Tk 0.88 for July 2018-March 2019 as against Tk 3.78 for July 2017-March 2018.

The consolidated net asset value (NAV) per share was Tk 17.73 as on March 31, 2019 and Tk. 18.80 as on June 30, 2018.

The company's share closed at Tk 27.80 each on Sunday on DSE. Its share traded between Tk 26 and Tk 33.70 in the last one year.

The company declared 10 per cent stock dividend for the year that ended on June 30, 2018.

The company's paid-up capital is Tk 2.20 billion, authorised capital is Tk 4.0 billion and the total number of securities is 220.06 million.

The sponsor-directors own 18.01 per cent stake in the company, while institutions 34.38 per cent, and the general shareholders remaining 47.61 per cent as of June 30, 2019, the DSE data shows.

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