National Polymer Industries Limited performed poorly during coronavirus pandemic as it earned Tk 1.8 crore net profit in first quarter against Tk 4.4 crore during the same period last year.
The company’s EPS went down to 0.52 Tk against Tk 1.21 EPS in the first quarter (July –September) period.
The Tk 3.6 crore company has over Tk 22 crore loan to different banks which intends expand production capacity, import capital machinery and repay bank loans with the sum raised from rights share offering.
Bangladesh Securities and Exchange Commission (BSEC) on December, 15, 2020 approved National Polymer’s rights offering application to raise Tk 54.7 crore for production capacity expansion and bank loan repayment.
With this offering National Polymer intends to float 3.6 crore shares at Tk 15 each with a premium of Tk 5.
Each share of the pipe manufacturer, which got listed in 1993, closed at Tk 65.1 on the Dhaka Stock Exchange yesterday, up 0.9 per cent from the previous day.
The market interest in the issuer’s common stock generally peaks when rights offering is announced, meaning existing shareholders can see the value of their holdings soar.
But at the same time, there would be dilution as the new stock would result in a decrease in the existing stockholder’s ownership percentage of that company.
National Polymer logged in a profit of Tk 15 crore for its 2019-20 financial year, down 18.1 per cent year-on-year. The company announced a 15 per cent cash dividend for the year, its first since 2011.
National Polymer is one of the premier conglomerates in Bangladesh. With headquarters in Gulshan – 1, Dhaka. We conduct business countrywide, driven by the passion to be the best and with a team of unique professionals.
National Polymer started its business officially in June 1987 and now it is growing up successfully in multiple sectors. Striving to implement the practical initiatives required for achieving its vision and guided by a relentless focus on values, the group maintains close relations with its target customer thereby guaranteeing quality uPVC, PP-R, CPVC pipes and fittings, PVC Doors, Sheet, Ceiling also Plastic Household and Furniture products and efficient service to their valued customers. National Polymer believes in delivering operational excellence to meet commitments. For the progression of its mission it has diversified products and growing to be one of the largest industrial conglomerates of the country. With diversification and a rich variation of products it has earned reputation among Bangladeshi people and abroad as a manufacturer of premium and quality products and services.
National Polymer has a long history of 25 years in PVC and Plastics technology in the Bangladesh market. Its inception was through making PVC compound for manufacturing of pipes, from which it has expanded its scope and has been the pioneer of introducing high quality uPVC pipes in our market. From time to time, it has kept its pace with pipe technology and has been the pioneer of ppr, cpvc etc and has introduced these newest technologies in the market. Its Door, sheets, false ceiling and household products division is also known in our market as “quality” products amongst many other manufacturers.
The core concept of the Company is to pioneer or introduce products which are of the highest quality amongst similar products in the market. This core concept has been integrated in its production process, logistics support and a technically sound and advanced Sales Team.