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An inspection team of the Dhaka Stock Exchange (DSE) found two more companies shut in a recent visit.
The companies are Dulamia Cotton Spinning Mills and Regent Textiles Mills.
Previously, the DSE team found Northern Jute Manufacturing Company's factory closed in a visit.
DSE investigators went to the place where the companies are located to examine their operational status. But they could not enter the factory premises and perform any inspection, according to a stock exchange filing on Tuesday.
It is suspected that the factories have remained closed for years.
The DSE last month identified 42 companies for inspection of physical entities for their failure to meet one or more regulatory obligations - holding annual general meetings, giving out dividends as declared, or paying listing fees.
In the first phase, the DSE is inspecting 14 companies, aiming to expose the real scenario of the companies to investors.
The other companies are National Feed Mills, Fortune Shoes, Central Pharmaceuticals, CVO Petrochemical Refinery, Familytex (BD), Keya Cosmetics, Khan Brother PP Woven Bag Industries, The Dacca Dyeing, Usmania Glass Sheet Factory, Zaheen Spinning, and Zahintex Industries.
The DSE also downgraded some companies to Z category owing to non-compliance.
Dulamia Cotton Spinning Mills
Dulamia Cotton was established in 1987 and was listed on the DSE in 1989. Its factory is located in Feni.
Dulamia Cotton saw losses piling up for more than ten years with no sign of recovery in the foreseeable future.
The company incurred a net loss of Tk 4.23 million in the nine months through March this year, which was Tk 4.94 million for the same period a year earlier.
It failed to declare dividend for more than 10 years.
The sponsor-directors jointly hold 33.01 per cent shares in the company as of August. The stock has been stuck at the floor price of Tk 70.80 since July last year.
Regent Textile Mills
Regent Textile suffered losses for more than two years and failed to declare dividend since 2021. It paid only 1 per cent cash dividend for FY20.
The Chittagong-based textile maker refrained from making any disclosure after 2021.
The company incurred a loss of Tk 208.04 million in FY21, increased from Tk 39.68 million in FY20.
The sponsor-directors jointly hold 54.55 per cent shares in the company as of May this year. The stock has been stuck at below the face value of Tk 9.80 for more than a year.