Walton Hi-Tech Industries is facing a considerable challenge, with a projected decline of around 70% in net profit for FY23 compared to FY22 due to a global economic slowdown, a strong US dollar, and surging raw material prices. In the first three-quarters of FY23, the company reported a net profit of Tk 249 crore, down from Tk 819.93 crore in the same period in FY22, resulting in a substantial drop in earnings per share (EPS). Walton’s annual net profit in FY22 was Tk 1,216 crore, making it unlikely to surpass this figure in FY23 without adding Tk 967 crore in the June quarter. The company attributes its lower earnings to raw material price hikes, increased freight costs, market volatility, and currency devaluation. Despite these challenges, Walton aims to achieve a $10 billion export target by 2030, with exports to over 40 countries worldwide.
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