The auditor has expressed apprehensions about managing or sustaining the business of Atlas Bangladesh, which is listed on the stock market. The apprehension has been expressed in the company’s 2023-24 financial audit. However, the share price of the company is very high because it is state-owned and small-capitalized.

The auditor said that Atlas Bangladesh has been making losses for 9 consecutive years. Out of this, 3.26 crore taka in 2015-16 financial year, 7.19 crore taka in 2016-17 financial year, 3.69 crore taka in 2017-18 financial year, 3.28 crore taka in 2018-19 financial year, 4.46 crore taka in 2019-20 financial year. , Tk 10.22 crore in FY 2021-21, Tk 4.86 crore in FY 2021-22, Tk 4.86 crore in FY 2022-23 9.70 crores and a loss of 6 crores 66 lakhs in the financial year 2023-24. In this series of declines, the accumulated losses of the company have increased to 12 crore 65 lakhs.

Loss-ridden Atlas Bangladesh’s core financials have gone bad. In this situation, if the government does not cooperate, then the company’s ability to manage or sustain its business is very apprehensive, said the auditor.

Despite the fact that Atlas bangladesh’s business is so risky, the company’s share price stood at Tk 53.40 at the end of trading on Wednesday (December 11). The reason behind this is the company’s low paid-up capital and state-owned company. The paid up capital of this company is 33 crore 13 lakh taka.

It should be noted that Atlas, which was listed on the stock market in 1988, is owned by the Government of Bangladesh 51% and the remaining 49% owned by various categories of investors (excluding entrepreneurs/directors) of the stock market.