Home ›› 08 Nov 2021 ›› Stock
Western Marine Shipyard Limited, a shipbuilding company, has suffered negative earnings in the third quarter of this year.
Its earnings-per-share (EPS) stood at Tk 0.03 in negative for January-March 2021, down from Tk 0.14 for January-March 2020, said the company in a filing with the Dhaka Stock Exchange on Sunday.
Its net operating cash flow per share was Tk 0.51 for July-March 2021 as against Tk 0.36 in the same period a year ago. Its net asset value (NAV) per share was Tk 23.28 as of March 31, 2021 and Tk 24.06 as of June 30, 2020.
On Sunday, its share price fell 3.31 per cent to Tk 11.70 on the DSE.
Western Marine Shipyard launched in 2000 and exported ships to several European countries.
In the last two decades the company has delivered 150 ships at home and abroad. Of these, 33 ships have been exported to 12 countries.
According to the latest annual report, the company’s outstanding loan stood at Tk 1,469.67 crore, which is 6.25 times higher from its paid-up capital.
The company was listed in 2014 and raised Tk 157.50 crore through an initial public offering.
Western Marine Shipyard was established in the year 2000 in Chattogram. Its mother company, Western Marine Services Ltd., was formed by a group of marine professionals specialized in ship-repair and export of marine supplies.
The company was intended to develop a cluster of technological excellence to meet the global demand of the maritime industry.
Initially, the company developed as a shipbuilder with its own shipyard in the eastern bank of the Karnaphuli river, in Chattogram, in the year 2000, over a land of 1.5 acres for building inland vessels and barges. Since then, the company gradually attained prominence as a major shipbuilding company with quality based motivation.
Now, Western Marine Shipyard has becme a leading shipbuilder of Bangladesh, standing over 45 acres of land, modernized into a world-class shipyard consisting of all sort of hi-tech and heavy tech machinery through an investment of Tk 300 crore.
It is an employment source for 3500 people including skilled and semi-skilled laborers.
