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Sonali Paper & Board Mills Limited has begun to produce aluminum foil paper box—the new production line added to its existing manufacturing capacity.
“The commercial operation of the new product line aluminum foil paper box commenced from August 29, 2022,” said the company in a filing with the Dhaka Stock Exchange on Per cent.
After adding the new production capacity, the production quantity will be increased to 2.80 crore pieces per year and it is expected to generate about additional sales revenue of Tk 19.60 core annually, it said.
According to its latest annual report, Sonali Paper’s total revenue from sales was Tk 150.69 crore in FY21.
Its gross sales stood at Tk 61 crore in FY21, an increase of 52 per cent from Tk 40 crore from the same period a year earlier. Net profit increased to Tk 6.68 crore from Tk 41 lakh during the period, according to the report.
In the third quarter (January-March, 2022), its EPS stood at Tk 3.04, a hefty rise of 150 times from Tk 0.19 in the same period a year earlier. The company’s total sales for the third quarter were Tk 61.19 crore, up from Tk 40.38 crore during the period.
The company declared a 20 per cent cash dividend and a 20 per cent bonus dividend in FY21, a 5 per cent cash dividend and a 10 per cent bonus dividend in FY20.
Yunus Group acquired the company in 2006. Its annual production capacity is 35,000 tonnes.
On July 2, 2020, share trading of Sonali Paper was shifted to the main board from the over-the-counter (OTC) market after 11 years.
Founded in 1977, the company mainly produces white and printing papers, simplex papers and duplex papers.
It was listed on the DSE in 1985 and CSE in 1996.
On Tuesday, Sonali Paper’s share price was down 1.18 per cent to Tk 729.80 on the Dhaka Stock Exchange.
