B Mirror Report: Miracle Industries Limited (MIL) reported a wider loss of Tk 35.92 million in the third quarter of FY26, even as its sales nearly doubled year-on-year.

Earnings per share (EPS) for the January–March quarter stood at Tk (1.02), compared to Tk (0.64) in the same period last year. For the nine months from July 2025 to March 2026, EPS was Tk (2.40), against Tk (1.63) a year earlier.

The company disclosed its third-quarter results on the Dhaka Stock Exchange (DSE) website on Monday.

MIL said its sales growth was driven by increased demand from the Bangladesh Chemical Industries Corporation (BCIC), a state-run entity that procures industrial materials in bulk for fertilizer factories and other chemical industries.

The plastic packaging manufacturer noted that its turnover rose by around 98 per cent year-on-year, largely due to supplies made under BCIC contracts, though it did not disclose the exact revenue figure.

Despite the strong sales performance, the company’s profitability came under pressure due to a sharp rise in costs.

MIL, which produces PP woven bags, laminated bags and jumbo bags used in packaging cement, fertilizer, sugar, food grains and chemicals, depends heavily on oil-based raw materials. Prices of key inputs such as polyethylene (PE) and polypropylene (PP) have surged significantly amid the ongoing Israel-US-Iran conflict, disrupting global energy and chemical markets.

The company also reported increased freight and logistics expenses, citing higher marine insurance premiums, rerouted shipments, longer transit times and fuel surcharges.

According to the disclosure, the cost of oil-based raw materials alone has risen by 50 to 70 per cent, contributing to higher losses and negative earnings.

Meanwhile, MIL’s share price dropped 4.51 per cent to Tk 25.40 on the Dhaka bourse on Monday.

To meet rising demand for fertilizer bags from BCIC, the company’s board has approved an investment plan to expand production capacity from 30 million to 50 million WPP bags.