Sreepur Textile Mills Limited:

 

Contact Details:

Registered Office                 

Factory

 
Sreepur Textile Mills Ltd
Jatiya Scout Bhaban(10-12th floor),
70/1 Purana Paltan Line, Kakrail, Dhaka
Tel: 02- 408702, 416776, 9347967-70
Fax: 02- 8315335 , 9332968
Email: erba@bdmail.net

Kewa,

Sreepur,

Gazipur

 

At a Glance:

  • Date of Incorporation                        : Incorporated as a Public Company with   

                                                                    Limited Liability, on 20th December 1989.

  • Date of Commencement

            of Commercial Operation                  : Commenced commercial operation on 1st

                                                                           July 1995.

  • IPO Offering Year                             : Issued public portion of shares in 1996.

 

  • Date of Listing in CSE                       : 4th April 1996

 

  • Nature of Business                            : Owns and operates a modern textile 

                                                                           factory, which produces cotton yarn.

 

  • Accounting Year                                 : financial year ended 31st December 2008

 

  • Date of Last AGM                            : The last AGM for the financial year ended

31st December 2008 was held on Tuesday, the 29th December.

·        Date of Delisting by CSE                  : The company has been delisted by

Chittagong Stock Exchange Limited with the effect from 6th October 2009 as per  SEC Directive No. SEC/CMRRCD/2001-16/168 dated October 01, 2009.

Market Information:

  • Market Lot: 50
  • Face Value: Tk 100
  • Close Price at the time of Delisting: 37.00

 

Board of Directors:

Mr. A. Ahmed Yusuf                            Chairman & Managing Director

Prof. Dr. Nurul Hoque              Director

Mr. Khurshid Alam                               Director

Mr. Mahboob Hussain              Director

 

 

Operational Status:

 

According to Auditors Report(19th Annual Report for the year ended 31st December 2008) to the Shareholders; Sreepur Textile Mills Limited was totally closed for more than two years and for this no revenue was made from normal process of operation. The company has been suffering huge operating losses for the last several years.

 

As per report of the Board of Directors, they hope to restart the factory by June, 2010.

 

Key Financial and Operating Indicators:    

Particulars

2008

2007

Authorized Capital 30,00,000 shares @ tk 100 each

300,000,000

300,000,000

Paid-up-Capital 14,00,000 shares @ tk 100 each

140,000,000

140,000,000

Net Worth

(292,486,255)

(270,036,876)

Working Capital

(193,183,776)

(190,624,267)

Debt to Equity (times)

(2.26)

(2.45)

NAV per Share

(209)

(193)

Turnover

Nil

Nil

Gross Profit

(21,189,779)

(22,634,205)

Net Profit/ (Loss) after Tax

(22,449,379)

(22,562,205)

Earning per Share

(16.04)

(16.12)

Dividend

Nil

Nil

Net operating Cash Flow per share

0.73

(5.31)

                                                

Share Holding Composition:

 

                2008                 No of Shares           %

                2007

 No of Shares         %

Sponsors

700,000             50.00%

700,000                50.00%

BSB

100,000               7.14%

100,000                  7.14%

Foreign Investors

  80,000               5.71%

  80,000                  5.71%

General Public (including financial institutions)

520,000              37.15%

520,000                37.15%

Total

1,400,000          100.00%

1,400,000          100.00%

 

Source: Annual Report for the year ended 31st December 2008