Company · DSE:MONNOCERA · Ceramics & glass · Analysis · 31 Oct 2026
Monno Ceramic Industries: a porcelain tableware maker that has run without pipeline gas since June 2023; FY2025 finance cost of BDT 147m was 2.5x operating profit, and profit came from a share sale and scrap sales
Revenue fell from BDT 904m (FY2022) to BDT 303m (FY2024) after the gas line was disconnected, and exports went to zero. FY2025 gross margin recovered to 24.0%, the highest in ten years, but finance cost reached BDT 146.6m against operating profit of BDT 58.1m. The FY2025 audit opinion is qualified, BDT 395m sits in receivables from five group companies, and the board recommended no dividend for FY2026.