Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the learnpress domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the learnpress domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the dc-bkash domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the rank-math domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the rocket domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the pods domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u744833385/domains/bizdatainsights.com/public_html/wp-includes/functions.php on line 6114
SS Steel Ltd's Turnover Surges By 41% - BIZDATA INSIGHTS

SS Steel Ltd’s Turnover Surges by 41%

Industry: Building Material, Steel, Stock Market
Company: SS Steel Limited
Company Intelligence Tag: Business Insights

SS Steel Ltd has witnessed a surge in turnover due to its acquisition spree since 2020, culminating in a 41% year-on-year increase to Tk 1,642 crore in the July-March period of the current fiscal year. However, its net profit margin plunged to 0.23%, the lowest among listed steelmakers, from 12.51% in FY19. Critics question the logic behind these acquisitions, as profits dwindle despite increased sales. The company’s debt-to-equity ratio surged from 0.48 in FY19 to 1.24 in FY22, prompting concerns about its aggressive financing strategy. Rising finance costs, reaching Tk 121 crore in FY23, further strain profitability. While SS Steel’s acquisitions aimed to boost growth, they seemingly led to diminished returns, raising regulatory scrutiny. Despite queries, the company remains silent on its performance, prompting further evaluation by the Bangladesh Securities and Exchange Commission.

Source for more details:

Related News

Social Islami Bank Stands Strong with Clear Loan Records

November 21, 2024

Following the dissolution of its previous board on August 5, 2024, Social Islami Bank PLC, now led by an independent director and chairman, is undergoing significant reforms to address a liquidity crisis and restore stability. The Shariah-based lender has a total deposit of Tk 32,272.45 crore and investments of Tk 37,534.59 crore as of November 17, 2024

Moody’s Downgrades Deposit Ratings for Six Banks

November 21, 2024

Global rating agency Moody’s has downgraded the long-term local and foreign currency deposit ratings of BRAC Bank, Mercantile Bank, and Premier Bank due to Bangladesh's recent sovereign downgrade to B2 on November 18, 2023. This marks the first downgrade in 14 years, reflecting heightened economic risks.

Monno Ceramic Sees 89% Profit Drop in Q1

November 21, 2024

Monno Ceramic Industries Ltd, a prominent tableware manufacturer in Bangladesh, reported a steep 89% drop in profits for the first quarter (July-September) of FY 2024-25. The company’s earnings fell to Tk 30.17 lakh during this period, significantly lower than Tk 2.66 crore recorded in the same quarter of the previous year.

Doreen Power’s Profit Falls by 17%

November 21, 2024

Doreen Power Generations and Systems faced a profit drop of over 17% in Q1 FY 2024-25 due to plant shutdowns and rising operational costs. The company's profit for July-September stood at Tk 26.95 crore, down from Tk 32.52 crore a year earlier. Earnings per share (EPS) fell to Tk 1.48 from Tk 1.80, according to unaudited financial statements released on November 20, 2024.

Steel Industry Outlines 5-Point Plan to Tackle Issues

November 21, 2024

Bangladesh's steelmakers have presented a five-point demand to the interim government to alleviate challenges plaguing the industry. At a press briefing on November 18, the Bangladesh Steel Manufacturers Association (BSMA) urged for expedited infrastructure projects to mitigate the economic crisis affecting businesses.

117 Beximco-Linked BO Accounts Under Scrutiny

November 21, 2024

The Bangladesh Securities and Exchange Commission (BSEC) has frozen 117 beneficiary owner (BO) accounts allegedly linked to Beximco Ltd’s owners following a request from the Bangladesh Financial Intelligence Unit (BFIU). On November 14, the BSEC instructed the Chittagong Stock Exchange to gather KYC forms and portfolio statements of these accounts within three days.

Related News

Social Islami Bank Stands Strong with Clear Loan Records

November 21, 2024

Following the dissolution of its previous board on August 5, 2024, Social Islami Bank PLC, now led by an independent director and chairman, is undergoing significant reforms to address a liquidity crisis and restore stability. The Shariah-based lender has a total deposit of Tk 32,272.45 crore and investments of Tk 37,534.59 crore as of November 17, 2024

Moody’s Downgrades Deposit Ratings for Six Banks

November 21, 2024

Global rating agency Moody’s has downgraded the long-term local and foreign currency deposit ratings of BRAC Bank, Mercantile Bank, and Premier Bank due to Bangladesh's recent sovereign downgrade to B2 on November 18, 2023. This marks the first downgrade in 14 years, reflecting heightened economic risks.

Monno Ceramic Sees 89% Profit Drop in Q1

November 21, 2024

Monno Ceramic Industries Ltd, a prominent tableware manufacturer in Bangladesh, reported a steep 89% drop in profits for the first quarter (July-September) of FY 2024-25. The company’s earnings fell to Tk 30.17 lakh during this period, significantly lower than Tk 2.66 crore recorded in the same quarter of the previous year.

Doreen Power’s Profit Falls by 17%

November 21, 2024

Doreen Power Generations and Systems faced a profit drop of over 17% in Q1 FY 2024-25 due to plant shutdowns and rising operational costs. The company's profit for July-September stood at Tk 26.95 crore, down from Tk 32.52 crore a year earlier. Earnings per share (EPS) fell to Tk 1.48 from Tk 1.80, according to unaudited financial statements released on November 20, 2024.

Steel Industry Outlines 5-Point Plan to Tackle Issues

November 21, 2024

Bangladesh's steelmakers have presented a five-point demand to the interim government to alleviate challenges plaguing the industry. At a press briefing on November 18, the Bangladesh Steel Manufacturers Association (BSMA) urged for expedited infrastructure projects to mitigate the economic crisis affecting businesses.

117 Beximco-Linked BO Accounts Under Scrutiny

November 21, 2024

The Bangladesh Securities and Exchange Commission (BSEC) has frozen 117 beneficiary owner (BO) accounts allegedly linked to Beximco Ltd’s owners following a request from the Bangladesh Financial Intelligence Unit (BFIU). On November 14, the BSEC instructed the Chittagong Stock Exchange to gather KYC forms and portfolio statements of these accounts within three days.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here