Power Grid Bangladesh PLC. announcements
330 Dhaka Stock Exchange announcements for Power Grid Bangladesh PLC. (POWERGRID) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2017 (14).
- Resumption after record date
Trading of the shares of the Company will resume on 19.11.2017 after record date.
- Suspension for Record Date
Trading of the shares of the Company will remain suspended on record date i.e., 16.11.2017.
- Spot News
Trading of the shares of the Company will be allowed only in the Spot Market and Block transactions will also be settled as per Spot settlement cycle with cum benefit from 14.11.2017 to 15.11.2017. Trading of the shares of the Company will remain suspended on record date i.e., 16.11.2017.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. 1.69 for July-September, 2017 as against Tk. 1.02 for July-September, 2016; NOCFPS was Tk. 2.80 for July-September, 2017 as against Tk. 0.24 for July-September, 2016. NAV per share was Tk. 94.20 as on September 30, 2017 and Tk. 79.02 as on September 30, 2016.
- Dividend Declaration
The Board of Directors has recommended 15% cash dividend for the year ended on June 30, 2017. Date of AGM: 06.01.2018, Time: 10:00 AM, Venue: Mukti Hall, Biddyut Bhaban, 1 Abdulgani Road, Dhaka-1000. Record Date: 16.11.2017. The Company has also reported EPS of Tk. 4.33, NAV per share of Tk. 89.79 and NOCFPS of Tk. 21.62 for the year ended on June 30, 2017 as against Tk. 2.66, Tk. 76.89 and Tk. 9.11 respectively for the same period of the previous year.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (29.10.2017) following its corporate declaration.
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on November 04, 2017 at 6:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2017.
- Reschedule of Board Meeting under LR 19(1)
The Company has further informed that the meeting of the Board of Directors of the Company, as per Regulation 19(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, will now be held on October 28, 2017 at 3:00 PM instead of October 25, 2017 to consider, among others, audited financial statements of the Company for the year ended on June 30, 2017.
- Board Meeting schedule under LR 19(1)
As per Regulation 19(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on October 25, 2017 at 6:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2017.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. 0.67 for January-March, 2017 as against Tk. 0.65 for January-March, 2016; EPS was Tk. 2.40 for July, 2016-March, 2017 as against Tk. 1.95 for July, 2015-March, 2016. NOCFPS was Tk. 11.54 for July, 2016-March, 2017 as against Tk. 10.75 for July, 2015-March, 2016. NAV per share was Tk. 83.25 as of March 31, 2017 and Tk. 74.00 as of June 30, 2016.
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on April 27, 2017 at 6:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2017.
- Q2 Financials
EPS was Tk. 0.71 for October-December, 2016 as against Tk. 0.69 for October-December, 2015; EPS was Tk. 1.73 for July-December, 2016 as against Tk. 1.30 for July-December, 2015. NOCFPS was Tk. 7.75 for July-December, 2016 as against Tk. 4.76 for July-December, 2015. NAV per share was Tk. 82.47 as of December 31, 2016 and Tk. 72.57 as of December 31, 2015.
- Board Meeting
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on January 23, 2017 at 6:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2016.
- Qualified Opinion
The auditor of the company has given the following qualified opinion in the audit report of the company for the year ended on 30 June 2016: Basis for Qualified Opinion: 1. As disclosed in Note # 4, the carrying amount of property, plant and equipment (PPE) is reported as BDT 52,368,136,099.00. PPE register is not maintained properly by the Company incorporating relevant information like, original cost, accumulated depreciation; rate of depreciation, year of acquisition, identification number etc. Valuation and physical verification of plant and machinery transferred from Bangladesh Power Development Board (BPDB) and Dhaka Power Distribution Company (DPDC) was not conducted. No physical verification of PPE was conducted either at the year-end or any time during the period under audit. We are unable to confirm the authenticity as to the physical existence of PPE as on 30 June 2016. The Company has never performed impairment test for PPE and no policy regarding impairment was found, which a non-compliance with BAS 16 is : Property, Plant & Equipment (PPE). 2. As disclosed in Note # 7, the Company has reported an amount of BDT 808,254,057 as inventories. We have visited 20 Grid Maintenance Division (GMD) offices involving the inventories value amounting to BDT 608,057,048.00 which is 75% of total inventories. During our visits, we find that inventory register was not maintained properly, movement of inventories was not recorded property and we could not find annual inventory valuation report for Barisal, Bogra, Ishwardi and Mymensingh GMD offices. As a result we are unable to confirm the physical existence of inventories to confirm the physical existence as well as their value as on 30 June 2016. 3. As disclosed in Note #8, the company has reported an amount of BDT 2,463,747,065.00 as receivable from transmission/wheeling and optical fibercharges. It includes receivable from DPDC and DESCO amounting to BDT 857,867,261.00 and 267,881,465.00 respectively being carried forward since 2008-2016, which includes disputed amounts with the respective companies (disputed amount with DPDC BDT 274,407,626.00 and DESCO BDT 3,106,231.00). As the mentioned disputed amounts, in our opinion, the company is very unlikely to receive the amounts in full. As provisions were not made for the above mentioned amounts, the earnings per share (EPS) and net asset value (NAV) for the year 2015-2016 would have adversely been affected to that extent. 4. As disclosed in Note #2.1, the company has reported an amount of BDT 1,100,215,757.00 as addition of PPE arises from exchange rate fluctuation related with the outstanding principal amount of loan for the year ended 30 June 2016. As per BAS 21: Effects of Changes in Foreign Exchange Rates, the said amount should be recognized as loss in Statement of Profit or Loss and Other Comprehensive Income. Due to this misrepresentation, income for the period has been overstated by BDT 1,100,215,757.00. 5. As disclosed in Note#20.4, current account with corporation and other offices includes BDT 114,745,358.00 and BDT (2,422,567.00) on account of BPDB and project-1 respectively as on 30 June 2016. Also as per Note#13.3(A), the Company owes BDT 4,339,480,698.00. to BPDB. These amounts could neither be confirmed from BPDB directly nor supported with the account statement of BPDB. 6. As disclosed in Note # 15, the company has repo 2000 rted an amount of BDT 1,735,868,760.00 (addition during the year amounting to BDT 681,918,278) as provision for gratuity. The Company carries an unfunded gratuity scheme for its employee and provision was made as per company gratuity policy for which no actuarial valuation was performed which is required to be done as per BAS 19.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.