Sonargaon Textiles Limited announcements
319 Dhaka Stock Exchange announcements for Sonargaon Textiles Limited (SONARGAON) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2021 (24).
- Resumption after record date
Trading of the shares of the Company will resume on 29.11.2021 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 28.11.2021.
- 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 from 24.11.2021 to 25.11.2021. Trading of the shares of the Company will remain suspended on record date i.e., 28.11.2021.
- The auditor of the Sonargaon Textiles Ltd has given the \"Qualified Opinion, Material Uncertainty Related to Going Conce
The auditor of the Sonargaon Textiles Ltd has given the \"Qualified Opinion, Material Uncertainty Related to Going Concern & Emphasis of matter\" paragraphs in the Auditor\'s Report for the year ended on 30 June, 2021. Basis for Qualified Opinion: 1. The Company\'s bank accounts are currently attached by the National Board of Revenue of Bangladesh. There the management have decided to pay all employee salaries throughout the financial year by cash payments. (cont.1)
- (Continuation news of SONARGAON): However, as per the Income Tax Ordinance, 1984, Section 30(i), Any payment by way of s
(Continuation news of SONARGAON): However, as per the Income Tax Ordinance, 1984, Section 30(i), Any payment by way of salary or remuneration made otherwise that by crossed cheque or bank transfer by a person to any employee having gross monthly salary of taka fifteen thousand or more will be inadmissible. We have found that the company has made cash payments to several employees every month that is over Tk. 15,000. (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of SONARGAON): 2. The company have not paid its WPPF contribution for the year 2018-2019 and 2019-202
(Continuation news of SONARGAON): 2. The company have not paid its WPPF contribution for the year 2018-2019 and 2019-2020. This is a violation of the Bangladesh Labour Act 2006 Section 234, Subsection 2. Under the act, the company is supposed to pay, within 9 (nine) months of the close of every year, five percent (5\%) of the net profit of the previous year at the proportion of 80:10:10 to respectively the Participatory Fund, (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of SONARGAON): Welfare Fund and Workers Welfare Foundation Fund established under section 14 of the B
(Continuation news of SONARGAON): Welfare Fund and Workers Welfare Foundation Fund established under section 14 of the Bangladesh Workers Welfare Foundation Act, 2006. 3. As disclosed in the note # 4.00 to the financial statements regarding Property Plant and Equipment, amounting to TK 842,742,314. During the year the company\'s addition to the Property, Plant and Equipment amounts to Tk.213,071,827. (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of SONARGAON): In respect of the addition, the payment Was made by cash, which is a violation of Inco
(Continuation news of SONARGAON): In respect of the addition, the payment Was made by cash, which is a violation of Income tax Ordinance 1984, section 30(m). which states that no entity is allowed to make payment exceeding taka fifty thousand or more in cash excluding: salary to an employee or any payment for government obligation or any payment on account of purchase of raw material. Emphasis of Matter: We would like to draw your attention to Note 14 which describes the (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of SONARGAON): Company\'s on-going legal proceedings with two of their financial institutions: Mutual
(Continuation news of SONARGAON): Company\'s on-going legal proceedings with two of their financial institutions: Mutual Trust Bank Limited and Bangladesh Development Bank Limited. Our audit opinion is not qualified in respect to this matter emphasized. Material Uncertainty Related to Going Concern: We draw attention to Statement of Profit and Loss and Other Comprehensive Income in the financial statements, (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of SONARGAON): which indicates that the Company incurred a Operating loss of BDT 55,280,215 during th
(Continuation news of SONARGAON): which indicates that the Company incurred a Operating loss of BDT 55,280,215 during the year ended June 30, 2021 and, as of that date, the has negative retained earnings of BDT 395,615,498. As of the signing of this report, the Company\'s production facility is operational but it is to be noted that the company\'s facility was closed for 10 months out of 12 months in the June 30 2021 financial year. (cont.7)
The first part of this announcement is missing from the archive. - Qualified Opinion, Going Concern & Emphasis of matter
(Continuation news of SONARGAON): The facility of the company was also closed for significant period during the previous financial year. As stated in above, these events or conditions, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect to this matter. (end)
The first part of this announcement is missing from the archive. - (Q1 Un-audited): EPS was Tk. (0.08) for July-September 2021 as against Tk. (0.41) for July-September 2020. NOCFPS was Tk
(Q1 Un-audited): EPS was Tk. (0.08) for July-September 2021 as against Tk. (0.41) for July-September 2020. NOCFPS was Tk. 0.02 for July-September 2021 as against Tk. (0.24) for July-September 2020. NAV per share was Tk. 11.00 as on September 30, 2021 and Tk. 11.08 as on June 30, 2021. (cont.)
- Q1 Financials
(Cont. of SONARGAON): The company also informed that, reason for increase decrease in EPS, NA V and NOCFPS as follows: EPS has increased due to production and sales volume increased in the 1st quarter. NAV decreased due to Net loss after Tax, decrease in the company's Retained Earnings and Assets. NOCFPS increase due to increase customers & Others collection in the Quarter under review. (end)
The first part of this announcement is missing from the archive. - 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 14, 2021 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2021.
- The Board of Directors has recommended No dividend for the year ended on June 30, 2021. Date of AGM: 26.12.2021, Time: 1
The Board of Directors has recommended No dividend for the year ended on June 30, 2021. Date of AGM: 26.12.2021, Time: 11:00 AM, Venue: Digital Platform. Record Date: 28.11.2021. The Company has also reported EPS of Tk. (13.35), NAV per share of Tk. 11.08 and NOCFPS of Tk. 7.86 for the year ended on June 30, 2021 as against Tk. (3.72), Tk. 24.43 and Tk. (0.78) respectively for the same period of the previous year. (cont. 1)
- (Continuation news of SONARGAON): The Company has also informed that reason for significant deviation in EPS, NAV and NO
(Continuation news of SONARGAON): The Company has also informed that reason for significant deviation in EPS, NAV and NOCFPS as follows: EPS has decreased due to fall in production as the factory was closed for 12 months covering the period of accounts under review. It also attributed to adverse effect of pandemic COVID-19, written-off of old tamper lost slow moving raw cotton stock with eventual loss in sales of stock and financial cost. (cont. 2)
The first part of this announcement is missing from the archive. - Dividend Declaration
(Continuation news of SONARGAON): NAV has decreased due to net loss after tax, decrease in company's Retained Earnings and Assets. NOCFPS have increased as the collection from the customers showed at a satisfactory level. (end)
The first part of this announcement is missing from the archive. - Price Limit Open
There will be no price limit on the trading of the shares of the Company today (01.11.2021) following its corporate declaration.
- 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 31, 2021 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2021.
- Q3 Financials
(Continuation news of SONARGAON): The Company has also informed that reason for significant deviation in EPS, NAV and NOCFPS as follows: EPS has decreased due to fail in production volume for adverse effect of COVID 19 resulting full closure of Mill in the 3rd quarter. NAV has decreased due to Net loss after Tax, decrease in the Company's Retained Earnings and Assets. NOCFPS has been increased in collection from customer's in the 3rd quarter under review. (end)
The first part of this announcement is missing from the archive. - Decision to recommence the production
Referring to their earlier news disseminated by DSE on 01.02.2021 regarding Close down of the factory, the Company has further informed that the Board of Directors has decided to recommence the production activities of the Company from May 30, 2021 upon completion of the necessary works/steps related to the production of the Company.
- 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 May 24, 2021 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2021.
- Q2 Financials
(Continuation news of SONARGAON): EPS has decreased due to fall in production volume for adverse effect of COVID 19 resulting full closure of mill in the 2nd quarter. NAV has decreased due to Net loss after Tax, decrease in the Company's Retained Earnings and Assets. NOCFPS has increased because of increased in collection from customer's in the 2nd quarter under review. (end)
The first part of this announcement is missing from the archive. - Close down of the factory
Referring to their earlier news disseminated by DSE on 01.11.2020 regarding Close down of the factory, the Company has further informed that the Board of Directors has decided under compiling current circumstances, the management decided to close down the operation of the factory until further notice.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.