Miracle Industries, listed on the Dhaka Stock Exchange (DSE), experienced a notable 10.74% increase in its stock price. This price surge occurred despite the company reporting losses for FY2022, including a loss of Tk 88 million in FY23. Miracle Industries had incurred losses totaling Tk 413 million between FY20 and FY23.
The previous owners sold their entire stake to Mehmood Equities in July, leading to a change in board membership. Mehmood Equities is committed to investing the necessary funds to resume the company’s operations.
Miracle Industries paid a 1% cash dividend in 2019, despite making a profit of Tk 7.71 million. According to the most recent data, the BCIC owns 20% of the company, while the general public owns 70%. Miracle Industries suspended production in July of the previous year due to a shortage of working capital. The company is now preparing to restart production. Despite recent financial challenges, the company’s stock has shown resilience in the market, frequently ranking among the top gainers. Until FY19, the company was profitable. In fiscal year 2017, it earned the most, Tk 36.58 million.
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