Summit Power Limited announcements
394 Dhaka Stock Exchange announcements for Summit Power Limited (SUMITPOWER) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2025 (26).
- Emphasis of Matters
The auditor of the company has given the Emphasis of Matters paragraph in the audited financial statements of the company for the year ended June 30, 2025: To view the details, please visit: https://www.dsebd.org/Auditors_opinion/2025/Summit%20Power%20Limited_2025.pdf
- Q1 Financials
(Q1 Un-audited): Consolidated EPS was Tk. 0.62 for July-September 2025 as against Tk. 0.57 for July-September 2024; Consolidated NOCFPS was Tk. 0.47 for July-September 2025 as against Tk. 1.18 for July-September 2024. Consolidated NAV per share was Tk. 41.22 as on September 30, 2025 and Tk. 40.57 as on June 30, 2025.
- Resumption after Record Date
Trading of the shares of the company will resume on 12.11.2025.
- 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 13, 2025 at 4:00 PM to consider, among others, Un-audited financial statements of the Company for the First Quarter (Q1) period ended September 30, 2025.
- Suspension for Record Date
Trading of the shares of the company will remain suspended on record date i.e., 11.11.2025.
- Spot News
Trading of the shares of the company will be allowed only in the Spot Market and Block transaction will also be settled as per spot settlement cycle with cum benefit from 09.11.2025 to 10.11.2025 and trading of the shares will remain suspended on record date i.e., 11.11.2025.
- Dividend Declaration
The Board of Directors has recommended 10.50% Cash Dividend for the year ended June 30, 2025. Date of AGM: 24.12.2025, Time: 11:30 AM, Venue: Digital Platform. Record Date: 11.11.2025. The Company has also reported consolidated EPS of Tk. 0.38, consolidated NAV per share of Tk. 40.57 and consolidated NOCFPS of Tk. 9.78 for the year ended June 30, 2025 as against consolidated EPS of Tk. 3.13, consolidated NAV per share of Tk. 41.44 and consolidated NOCFPS of Tk. 6.13 (cont.1) (cont. news of SUMITPOWER): As a consequence of these shutdowns, the Company recognized an impairment loss of BDT 1,520 million during the year. In addition, following the expiry of the Power Purchase Agreements (PPAs), 4 power plants operated only partially on a "No Electricity, No Payment (NENP)" basis, while 3 plants remained non-operational throughout the year. (end) (cont. news of SUMITPOWER): for the year ended June 30, 2024. Reasons for decrease in consolidated EPS: The Consolidated EPS decreased by 87.86% compared to the previous year, primarily due to the shutdown of 7 power plants out of a total of 15 operated by Summit Power Limited, having a combined capacity of 234 MW out of the total 930.55 MW. (cont.2)
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (23.10.2025) 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 22, 2025 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2025.
- Regarding Execution of Asset Purchase Agreement
(Execution of "Asset Purchase Agreement" between Summit Power Limited (SPL) and SABSON ENERGY FZCO, United Arab Emirates, for the Sale/Re-export of Narayanqanj Unit I (102 MW HFO-fired Power Plant) of Summit Power Limited): The company has informed all stakeholders and regulators that the Narayanganj Unit I (102 MW HFO-fired) of Summit Power Limited commenced its commercial operation on 1 April 2011.(cont.1) (Cont. news of SUMITPOWER): Management, in its search for a prospective buyer, got responses from two parties and engaged in discussions and negotiations with the two interested parties. Following the discussions, an agreement has been reached with SABSON ENERGY FZCO, a company incorporated under the laws of the United Arab Emirates, having its registered office at Office No. S10123O119, Jafza 25 Building, South Zone, Dubai, UAE (P.O. Box 94859). (end) (Cont. news of SUMITPOWER): no power has been dispatched from the plant since 19 August 2024 and it has obtained an NoC from the BPDB stating that, as there is no further scope for renewal of the Power Purchase Agreement, the operational lifespan of the power plant has expired in Bangladesh. In light of this, the Board, in its meeting held on 08 May 2025, resolved for the sale of the power plant and authorized the management to explore potential buyers.(cont.3) (Cont. news of SUMITPOWER):Following two contract renewals, the most recent agreement for the supply of electricity to the Bangladesh Power Development Board (BPDB) expired on 22 March 2024. Although the power plant resumed operation for a further period of two years based on BPDB's consent letter dated 29 April 2024 on 'No Electricity No Pay' (NENP) tariff model,(cont.2)
- Dividend Disbursement
The Company has informed that it has disbursed the Cash Dividend for the year ended June 30, 2024 to the respective shareholders.
- Q3 Financials
(Q3 Un-audited): Consolidated EPS was Tk. 0.39 for January-March 2025 as against Tk. 0.69 for January-March 2024; Consolidated EPS was Tk. 1.46 for July 2024-March 2025 as against Tk. 2.40 for July 2023-March 2024. Consolidated NOCFPS was Tk. 7.23 for July 2024-March 2025 as against Tk. 7.05 for July 2023-March 2024. Consolidated NAV per share was Tk. 42.55 as on March 31, 2025 and Tk. 41.44 as on June 30, 2024. Reasons for deviation in EPS: EPS decreased mainly due to Power Purchase Agreement (cont.) (Cont. news of SUMITPOWER): (PPA) of one power plant was not renewed after expiry; Another plant was operated only for partial period as no demand was given by the National Load Dispatch Centre (NLDC); Three more power plants after PPA renewal also came within the purview of "No Electricity, No Payment" basis with no capacity revenue; and Income tax expense was higher in the current period as more plants came under tax bracket after expiry of initial PPAs. (end)
- 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 30, 2025 at 4:15 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended March 31, 2025.
- Credit Rating Result
Credit Rating Information and Services Limited (CRISL) has assigned rating of the Company as "AAA" in the long term and "ST-1" in the short term along with a Stable outlook in consideration of its audited financials up to June 30, 2024, also unaudited financial up to December 31, 2024 and other relevant quantitative as well as qualitative information up to the date of rating declaration.
- Emphasis of Matter
The auditor of the company has given the "Emphasis of Matter" paragraphs in the Auditor's Report of the company for the year ended June 30, 2024. To view the details, please visit: https://www.dsebd.org/Auditors_opinion/2024/Summit%20Power%20Limited_2024.pdf
- Q1 Financials
(Q1 Un-audited): Consolidated EPS was Tk. 0.57 for July-September 2024 as against Tk. 0.89 for July-September 2023; Consolidated NOCFPS was Tk. 1.18 for July-September 2024 as against Tk. 1.32 for July-September 2023. Consolidated NAV per share was Tk. 41.25 as on September 30, 2024 and Tk. 41.44 as on June 30, 2024. Reasons for decrease in consolidated EPS: 1. Power Purchase Agreement (PPA) of one power plant was not renewed after expiry; (cont.) (Continuation news of SUMITPOWER): 2. Another plant was operated only for partial period as no demand was given by the National Load Dispatch Centre (NLDC); and 3. Three more power plants after PPA renewal were run on the "No Electricity, No Payment" basis without any capacity payment. (end)
- Q2 Financials
(Q2 Un-audited): Consolidated EPS was Tk. 0.50 for October-December 2024 as against Tk. 0.82 for October-December 2023; Consolidated EPS was Tk. 1.07 for July-December 2024 as against Tk. 1.71 for July-December 2023. Consolidated NOCFPS was Tk. 3.43 for July-December 2024 as against Tk. 2.21 for July-December 2023. Consolidated NAV per share was Tk. 41.88 as on December 31, 2024 and Tk. 41.44 as on June 30, 2024. Reasons for decrease in consolidated EPS: (cont.) (Continuation news of SUMITPOWER): 1. Power Purchase Agreement (PPA) of one power plant was not renewed after expiry; 2. Another plant was operated only for partial period as no demand was given by the National Load Dispatch Centre (NLDC); 3. Three more power plants after PPA renewal were run on the "No Electricity, No Payment" basis without any capacity payment; and 4. Income tax expense was higher in the current period as more plants came under tax bracket after expiry of initial PPAS. (end)
- Cease of operation of three power plants
The company has informed that Bangladesh Rural Electrification Board (BREB), the lone off taker, has asked to cease operation of the following three power plants of the company as well: (Name of Power Plants - Initial 15 Years of PPA expiry date): 1. Rupganj Power Plant (33MW gas fired) - June 08, 2024; 2. Maona Power Plant (33MW gas fired) - May 11, 2024; 3. Ullapara Power Plant (11MW gas fired) - March 02, 2024. Negotiation/PPA Renewal status: After the expiry of initial PPA, these (cont.) (Cont. news of SUMITPOWER): plants continued operations in terms of BREB's letter dated 18 February 2024, subject to tariff negotiation and renewal of PPA approval. But BREB subsequently vide its letter dated 11 March 2025 confirmed that these three power plants will cease operations from 1 April 2025 as there is no opportunity for contract renewal. Power plants operational status: The power plants will cease operations from April 01, 2025. (end)
- 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 March 21, 2025 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) and Second Quarter (Q2) period ended September 30, 2024 and December 31, 2024 respectively.
- Resumption after Record Date
Trading of the shares of the company will resume on 11.03.2025.
- Suspension for record date
Trading of the shares of the company will remain suspended on record date i.e., 10.03.2025.
- Spot News
Trading of the shares of the company will be allowed only in the Spot Market and Block transaction will also be settled as per spot settlement cycle with cum benefit from 06.03.2025 to 09.03.2025 and trading of the shares will remain suspended on record date i.e., 10.03.2025.
- Dividend Declaration
The Board of Directors has recommended 10% Cash dividend for the year ended June 30, 2024. Date of AGM: 13.04.2025, Time: 11:30 AM, Venue: Digital Platform. Record date: 10.03.2025. The Company has also reported consolidated EPS of Tk. 3.13, consolidated NAV per share of Tk. 41.44 and consolidated NOCFPS of Tk. 6.13 for the year ended on June 30, 2024 as against Tk. 2.07, Tk. 38.02 and Tk. 7.04 respectively for the year ended June 30, 2023. (cont.) (cont. news of SUMITPOWER): Reasons for increase in consolidated EPS: The Consolidated EPS increased by 51.2% compared to last year, primarily due to the significantly higher HFO cost over HFO revenue in the previous year. This was driven by the exorbitant appreciation of the USD against the BDT, which resulted in a higher BDT cost for imports. As this impact was relatively lower in the current year, the EPS has increased. (end)
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (18.02.2025) 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 February 17, 2025 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2024.
- Appointment of Managing Director
The company has informed that the Board of Directors has appointed Major General (Retd.) Dr. Monirul Islam Akhand, ndc, psc, PhD as the Managing Director of the company with effect from January 01, 2025.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.