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Paramount Textile to purchase brand new machinery

FE Online Report | Published: July 14, 2019 12:39:29 | Updated: July 15, 2019 11:35:53


The board of directors of Paramount Textile has decided to purchase some brand new capital machinery from abroad worth nearly Tk 117 million, said an official disclosure on Sunday.

The company will purchase the machinery under the credit facilities of Pubali Bank to meet its enhancement and replacement needs resulting, said the disclosure.

The specifications of the machinery are -- Stenter Frame Range (China) and Sanforizing Machine (Italy). Modes of payment: Transferable L/C and 100 per cent confirmed L/C at sight total price of the machinery is US$ 1,000,000 and euro 340,000 respectively which is equivalent nearly BDT 117 million.

Each share of Paramount Textile closed at Tk 60.80 on Thursday last. In the last one year, its share traded between Tk 52.10 and Tk 75 each.

The company disbursed 7.0 per cent cash and 5.0 per cent stock dividend for the year ended on June 30, 2018.

The company has reported earnings per share (EPS) in nine months for July 2018-March 2019 of Tk 2.12 as against Tk 1.20 for July 2017-March 2018.

The net operating cash flow per share (NOCFPS) was Tk 3.43 for July 2018-March 2019 as against Tk 1.64 for July 2017-March, 2018.

The net asset value (NAV) per share was Tk 21.23 as on March 31, 2019 and Tk 19.79 as on June 30, 2018.

The company made a substantial growth in revenue.  EPS, NAV per share and NOCFPS due to BMRE expansion and capacity enhancement made earlier in the company, officials said.

The company’s paid-up capital is Tk 1.35 billion, authorised capital is Tk 2.0 billion and the total number of securities is 135.49 million.

The sponsor-directors own 60.75 per cent stakes in the company, while institutions 11.45 per cent, foreign investors 3.67 per cent and the general public 24.13 per cent as of June 30, 2019, the DSE data shows.

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