Usmania Glass earnings plummet continue

State-owned, publicly traded company Usmania Glass Sheet Factory Limited has posted continued losses in the third quarter earnings (Q3) per share (EPS) January-March 2021-2022.

Usmania Glass Company reported a 122 percent decrease in this period compared to the same quarter last year, according to a filing with the Dhaka Stock Exchange on Tuesday.

Usmania Glass’s EPS in the miscellaneous sector fell 58 per cent. Losses per share stood at Tk 0.60, down from
Tk 1.43.

In the third quarter, its earnings per share (EPS) dropped to Tk 0.73 in the January-March period, from Tk 1.53 recorded in the same period a year ago.

Usmania Glass NOCFPS was Tk 1.10 for July 2021–March 2022 as against negative Tk 2.27 for July 2020–March 2021.

Its net asset value (NAV) per share was Tk 83.53 as of March 31, 2022 and Tk 85.82 as of June 30, 2021.

Following the disclosure, its share price dropped 0.66 per cent to Tk 60.40 on the bourse. As of Tuesday, its market capitalisation stood at Tk 105 crore. Its paid up capital was Tk 17 crore and its surplus reserve was negative at Tk 44 crore.

Usmania Glass was listed on the capital market in 1987.

As of 31 March 2022, the sponsors and directors jointly held 2 per cent of the shares, the government 51 per cent, institutions 9.34 per cent, and the general public held 37.66 per cent of the shares in the company.

The company recommended a 10 per cent stock dividend to its shareholders on June 30, 2018.