The total asset value of Dorin Power Generation and Systems Limited, listed in the capital market, has decreased by Tk 82 crore. As a result, the asset value per share (NAV) of the company decreased by 4 taka 53 paisa.
This information has been revealed in the asset valuation report of the company till June 30. The asset valuation report was approved at Doreen Power’s board meeting held yesterday (October 15).
According to sources, Doreen Power Generation and Systems assessed the asset as of June 30, 2024. It can be seen that before the audit, the total asset value of the company was 177 crore 72 lakh 60 thousand 496 taka. After valuation, the asset value of the company stands at 95 crore 73 lakh 24 thousand 382 taka. As a result, compared to the previous estimate, the asset value of the company has decreased by 81 crore 99 lakh 36 thousand 114 taka.
Meanwhile, the net asset value (NAV) of the company has naturally decreased slightly due to the fall in asset prices. According to DSE, the asset value per share of the company as on March 31, 2024 decreased by another 4.53 paisa from 52.34 paisa.
It is known that the valuation is based on the written down value of the property, plant and equipment (PPE) of the company. The company’s assets have been valued by the audit firm K. as per international valuation standards and BSEC guidelines. M. Alam & Co. Chartered Accountants.
Listed on the stock market in 2016, Doreen Power has three power generation plants across the country. Apart from Tangail, the other two are located in Feni and Narsingdi. However, as the power purchase agreement (PPA) with the government has expired, the production of Feni and Tangail has stopped.
Meanwhile, as the application to Bangladesh Power Development Board (BPDB) regarding the extension of the PPA has been pending for a long time, Dorin Power has recently announced the sale of engines, ancillary equipment, substation equipment and other assets of Feni and Tangail power plants.
In November 2008, the journey of Doreen Power Generations and Systems Limited started with power generation. In 2010, the commercial production of both Northern and Southern power plants with a capacity of 55 MW started.
This information is known from the sources of Dhaka Stock Exchange.
