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Global Heavy Chemicals posts losses in FY22 – The Daily Star

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Global Heavy Chemicals Limited suffered losses in the financial year that ended on June 30 because of a drop in sales and its failure to recover operating fixed costs.
It incurred a loss of Tk 11.30 crore in 2021-22 against a profit of Tk 2.45 crore in the previous year. This was the first loss of the chemical producer in six years.
Thus, Global Heavy Chemicals reported earnings per share of Tk 1.57 negative for 2021-22, which was Tk 0.34 a year earlier.
The EPS declined as sales decreased due to the shortage of gas supply. The company was also unable to recover operating fixed costs like depreciation, labour cost and finance cost, said Global Heavy Chemicals in a filing on the Dhaka Stock Exchange yesterday.
The net asset value per share slipped to Tk 53.68 from Tk 54.65 a year earlier.
The net operating cash flow per share was a negative Tk 0.50 in the last financial year compared to Tk 0.41 in 2020-21, driven by a decrease in net cash generation from operation because of the increase in payments to suppliers and financial expenses.
The board of directors of Global Heavy Chemicals has recommended a 2 per cent cash dividend for shareholders except for the directors for 2021-22.
Shares of the company were unchanged at Tk 35.10 on the DSE yesterday.
A concern of Opsonin Group, Global Heavy Chemicals produces import substitute industrial chemicals like caustic soda, hydrochloric acid, bleaching powder, chlorine, sodium hypochlorite, and chlorinated paraffin wax.
GHCL also exports chlorine to India on a regular basis, according to the website of the company.
যা ছিল উদযাপনের, তা এখন আতঙ্কের


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