Berger Paints Bangladesh holds 49th AGM

Berger Paints Bangladesh Limited has recently held its 49th Annual General Meeting (AGM) on digital platform.

Gerald K Adams, Chairman, Berger Paints Bangladesh Limited presided over the meeting. Rupali Chowdhury, Managing Director, along with other directors, namely Anil Bhalla, Masud Khan, Parveen Mahmud, Reazul Islam, Rishma Kaur, Kanwardip Singh Dhingra, Sunil Sharma, Abhijit Roy, Jean-Claude Loutreuil and Sazzad Rahim Chowdhury also attended the meeting, said a statement.

Gerald K Adams presented the Directors’ Report, Auditors’ Report and Audited Financial Statements for the year that ended on March 31, 2022 before the shareholders. Rupali Chowdhury replied to the shareholders’ queries.

400 per cent cash dividend comprising of 300 per cent interim dividend and 100 per cent final dividend was declared for 2021-2022 in the meeting.

The company achieved 31.8 per cent revenue growth and around 19 per cent volume growth in the year that ended on March 31, 2022. The company gained market share in 2021-2022. At the backdrop of 31.80 per cent revenue growth, the company achieved 10.07 per cent growth in income before tax. Income before tax was 17.40 per cent of net sales in 2021-22 compared to 20.83 per cent of last year. During the period, cost of sales increased from 60.21 per cent to 65.59 per cent of net sales.

During the year, Berger Paints Bangladesh Limited has been awarded ‘Top VAT Payer’ for 2019-20 fiscal year under manufacturing category. The company also received ‘ICMAB Best Corporate Award 2020’ in the category of multinational manufacturing industries for its sales and financial performance, contribution to national exchequer, HR management, corporate governance, shareholders’ return, investment growth and CSR activities.

Berger Paints has also been awarded the ‘Best Paint Brand’ in Paint category for 11 consecutive times by Bangladesh Brand Forum (BBF) in partnership with Nielsen Bangladesh.