Aziz Pipes Limited announcements
320 Dhaka Stock Exchange announcements for Aziz Pipes Limited (AZIZPIPES) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2014 (18).
- Q3 Earnings
(Repeat):(Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 30th September 2014 (July'14 to Sep'14), the Company has reported net profit/(loss) after tax of Tk. (2.49) million with EPS of Tk. (0.51) as against Tk. 0.19 million and Tk. 0.04 respectively for the same period of the previous year. Whereas net profit/(loss) after tax was Tk. (1.37) million with EPS of Tk. (0.28) for the period of nine months (Jan'14 to Sep'14) ended on 30.09.2014 as against Tk. 2.13 million and Tk. 0.44 respectively for the same period of the previous year. Accumulated profit/(loss) of the Company was Tk. (436.05) million as on 30.09.2014 resulting total shareholders' equity stands at Tk. (212.08) million.
- CSE query
In response to a CSE query, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike.
- DSE query
In response to a DSE query, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike.
- Q3 Earnings
(Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 30th September 2014 (July'14 to Sep'14), the Company has reported net profit/(loss) after tax of Tk. (2.49) million with EPS of Tk. (0.51) as against Tk. 0.19 million and Tk. 0.04 respectively for the same period of the previous year. Whereas net profit/(loss) after tax was Tk. (1.37) million with EPS of Tk. (0.28) for the period of nine months (Jan'14 to Sep'14) ended on 30.09.2014 as against Tk. 2.13 million and Tk. 0.44 respectively for the same period of the previous year. Accumulated profit/(loss) of the Company was Tk. (436.05) million as on 30.09.2014 resulting total shareholders' equity stands at Tk. (212.08) million.
- H/Y Earnings
(H/Y): As per un-audited half yearly accounts as on 30.06.2014 (Jan'14 to June'14), the Company has reported net profit after tax of Tk. 1.02 million with EPS of Tk. 0.21 as against Tk. 1.94 million and Tk. 0.40 respectively for the same period of the previous year. Whereas net profit/(loss) after tax was Tk. 0.21 million with EPS of Tk. 0.04 for the period of 3 months (Apr'14 to June'14) ended on 30.06.2014 as against Tk. (0.27) million and Tk. (0.05) respectively for the same period of the previous year. Accumulated profit/(loss) of the Company was Tk. (433.67) million as on 30.06.2014 resulting total shareholders' equity stands at Tk. (209.69) million.
- DSE query
In response to a DSE query, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike.
- Normal trading of the shares of the Company will resume on 22.05.2014 after record date.
Normal trading of the shares of the Company will resume on 22.05.2014 after record date.
- Trading of the shares of the Company will remain suspended on record date i.e., 21.05.2014.
Trading of the shares of the Company will remain suspended on record date i.e., 21.05.2014.
- Audit Observation
The auditor of the company has given the following audit observation paragraph in the audit report of the company for the year ended on 31 December 2013: Audit observations: 1. Utilization of production capacity and ability of the company to pay debt: The production capacity position of the company is very poor which was decreased than the last year by 9.44%. Total utilization of attainable capacity of the company is only 38.59%, which was 48.03% at previous year. The management of the company opined that the shortfall was made due to reduce demand emanated from general economic downturn, shortage of working capital and no-availability of banking support due to sub-judice matter. In our opinion, production capacity must be utilized at the optimum level to strengthen the financial position of the company. Further, it is mentioned that as of 31 December 2013 the cumulative balance of retained earning stands on negative balance amounting to Tk. 434,685,034 and indebted to the extent of Tk. 615,017,986 consisting of loan fund and current liabilities. All these facts indicate significant uncertainty as to the company's ability to repay the liabilities. 2. Cost of Goods Sold (COGS): The cost of goods sold represents 90.32% of the total turnover, which is the higher side and it was also 90.86% in the last year. In our opinion for steady profit of the company the cost of goods sold ratio to turnover should be reduced as much as possible and also sales price of the product should be re-fixed. 3. Deferred taxation: The company recognised no deferred taxation in accordance with Paragraph 47 of BAS 12. 4. Pre-Production Expense: During the year the company has amortised Tk. 1,000,000 against Pre-Production Expenses. We feel that entire rest of the amount should be written off immediately. 5. Revaluation Reserve: The company has not been charging depreciation on the additional value resulting from revaluation of fixed assets as required by BAS 16. 6. Loan Fund: The company has continuously been defaulting in payment of instalment against short-term loan and cash credit from Uttara Bank Limited, Dutch Bangla Bank Limited and National Bank Limited, which included in Note-13, 14 & 15. The company is under process of negotiation for restructuring with those financial institutions. Both the company and Uttara Bank Limited, Dutch Bangla Bank Limited and National Bank Limited have gone into litigation to mitigate their respective grievances and such no interest has been charged during the year against those loans. However, the company management should take pragmatic actions to negotiate the matter as early as possible.
- (Audit Observation): The auditor of the company has given the following audit observation paragraph in the audit report
(Audit Observation): The auditor of the company has given the following audit observation paragraph in the audit report of the company for the year ended on 31 December 2013: Audit observations: 1. Utilization of production capacity and ability of the company to pay debt: The production capacity position of the company is very poor which was decreased than the last year by 9.44%. Total utilization of attainable capacity of the company is only 38.59%, which was 48.03% at previous year. The management of the company opined that the shortfall was made due to reduce demand emanated from general economic downturn, shortage of working capital and no-availability of banking support due to sub-judice matter. (cont.-1)
- (continuation of news of AZIZPIPE): In our opinion, production capacity must be utilized at the optimum level to strengt
(continuation of news of AZIZPIPE): In our opinion, production capacity must be utilized at the optimum level to strengthen the financial position of the company. Further, it is mentioned that as of 31 December 2013 the cumulative balance of retained earning stands on negative balance amounting to Tk. 434,685,034 and indebted to the extent of Tk. 615,017,986 consisting of loan fund and current liabilities. All these facts indicate significant uncertainty as to the company's ability to repay the liabilities.2. Cost of Goods Sold (COGS):The cost of goods sold represents 90.32% of the total turnover, which is the higher side and it was also 90.86% in the last year. (cont.-2)
The first part of this announcement is missing from the archive. - (continuation of news of AZIZPIPE): In our opinion for steady profit of the company the cost of goods sold ratio to turn
(continuation of news of AZIZPIPE): In our opinion for steady profit of the company the cost of goods sold ratio to turnover should be reduced as much as possible and also sales price of the product should be re-fixed.3. Deferred taxation:The company recognised no deferred taxation in accordance with Paragraph 47 of BAS 12.4. Pre-Production Expense:During the year the company has amortised Tk. 1,000,000 against Pre-Production Expenses. We feel that entire rest of the amount should be written off immediately.5. Revaluation Reserve:The company has not been charging depreciation on the additional value resulting from revaluation of fixed assets as required by BAS 16. (cont.-3)
The first part of this announcement is missing from the archive. - (continuation of news of AZIZPIPE): 6. Loan Fund: The company has continuously been defaulting in payment of instalment
(continuation of news of AZIZPIPE): 6. Loan Fund: The company has continuously been defaulting in payment of instalment against short-term loan and cash credit from Uttara Bank Limited, Dutch Bangla Bank Limited and National Bank Limited, which included in Note-13, 14 & 15. The company is under process of negotiation for restructuring with those financial institutions. Both the company and Uttara Bank Limited, Dutch Bangla Bank Limited and National Bank Limited have gone into litigation to mitigate their respective grievances and such no interest has been charged during the year against those loans. However, the company management should take pragmatic actions to negotiate the matter as early as possible. (End)
The first part of this announcement is missing from the archive. - Trading of the shares of the Company will be allowed only in the Spot Market and Block/Odd lot transactions will also be
Trading of the shares of the Company will be allowed only in the Spot Market and Block/Odd lot transactions will also be settled as per Spot settlement cycle from 07.05.2014 to 20.05.2014. Trading of the shares of the Company will remain suspended on record date i.e., 21.05.2014.
- The Board of Directors did not recommend any dividend for the year ended on December 31, 2013. Date of AGM: 26.06.2014,
The Board of Directors did not recommend any dividend for the year ended on December 31, 2013. Date of AGM: 26.06.2014, Time: 10:00 AM, Venue: Trust Milonayatan, 545, Old Airport Road, Dhaka Cantonment, Dhaka. Record Date: 21.05.2014. The Company has also reported EPS of Tk. 0.14, NAV per share of Tk. (43.45) and NOCFPS of Tk. 4.35 for the year ended on December 31, 2013 as against Tk. 0.39, Tk. (42.04) and Tk. 1.76 respectively for the year ended on December 31, 2012.
- There will be no price limit on the trading of the shares of the Company today (30.04.2014) following its corporate decl
There will be no price limit on the trading of the shares of the Company today (30.04.2014) following its corporate declaration.
- (Q1): As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2014 (Jan'14 to March'14), the Compan
(Q1): As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2014 (Jan'14 to March'14), the Company has reported net profit after tax of Tk. 0.80 million with EPS of Tk. 0.17 as against Tk. 2.20 million and Tk. 0.45 respectively for the same period of the previous year. Accumulated profit/(loss) of the Company was Tk. (433.88) million as on 31.03.2014 resulting total shareholders' equity stands at Tk. (209.91) million.
- As per Regulation 30 of DSE Listing Regulations, the Company has informed that a meeting of the Board of Directors will
As per Regulation 30 of DSE Listing Regulations, the Company has informed that a meeting of the Board of Directors will be held on April 29, 2014 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended on December 31, 2013.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.