National Polymer Industries Plc, an engineering sector company, has decided to issue redeemable, cumulative, non-convertible, and non-participative preference shares worth Tk 100 crore. The decision was made at a board meeting. The preference shares will have a tenure of five years and will be issued through a private offer. The company plans to utilize the proceeds to repay its existing debt.
According to its unaudited financial report, National Polymer’s net income increased to Tk 532.56 crore in the first three quarters (July-March) of the current financial year 2023-24, compared to Tk 467.44 crore in the same period last year. Its net profit during the reporting period stood at Tk 11.99 crore, up from Tk 7.35 crore in the previous year. The company’s consolidated earnings per share (EPS) for the three quarters was Tk 1.64, higher than Tk 1.11 in the corresponding period last year.