Zaheen Spinning PLC. announcements
199 Dhaka Stock Exchange announcements for Zaheen Spinning PLC. (ZAHEENSPIN) since 2015: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2022 (29).
- WASO Credit Rating Company (BD) Ltd. (WCRCL) has announced the surveillance entity rating of the Company as \"BBB3\" for
WASO Credit Rating Company (BD) Ltd. (WCRCL) has announced the surveillance entity rating of the Company as \"BBB3\" for long term and \"ST-4\" for short term along with a stable outlook based on latest audited financial statement of the Company for FY2022 and other relevant qualitative and quantitative information up to the date of rating issuance.
- Resumption after record date
Trading of the shares of the Company will resume on 27.11.2022 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 24.11.2022.
- 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 from 22.11.2022 to 23.11.2022. Trading of the shares of the Company will remain suspended on record date i.e., 24.11.2022.
- (Q1 Un-audited): EPS was Tk. 0.02 for July-September 2022 as against Tk. (0.24) for July-September 2021; NOCFPS was Tk.
(Q1 Un-audited): EPS was Tk. 0.02 for July-September 2022 as against Tk. (0.24) for July-September 2021; NOCFPS was Tk. 0.09 for July-September 2022 as against Tk. 0.12 for July-September 2021. NAV per share was Tk. 4.99 as on September 30, 2022 and Tk. 4.97 as on June 30, 2022. (cont.)
- Q1 Financials
(Continuation news of ZAHEENSPIN): Reasons for significant deviation: The company also informed that after repairing and replacement of burned machineries, production and sales volume have been increased. The consequential results of increase in revenue and profit ultimately increased EPS and NAVPS. On the other hand, NOCFPS has been slightly decreased due to decrease in collection against sales and receivables. (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 13, 2022 at 3:00 PM to consider, among others, un-audited financial statements of the company for the First Quarter (Q1) period ended September 30, 2022.
- The auditor of the Zaheen Spinning Limited has given the \"Qualified Opinion\" & \"Emphasis of Matter\" paragraphs in th
The auditor of the Zaheen Spinning Limited has given the \"Qualified Opinion\" & \"Emphasis of Matter\" paragraphs in the auditor\'s report for the year ended June 30, 2022. Auditor\'s Qualified Opinion: 1. The financial statement shows Property Plant and Equipment, and Work in Progress TK 628,339,704 which includes addition during the year to Property, Plant and Equipment Tk. 56,439,225 transferred from Capital Work in Progress (cont.1)
- (Continuation news of ZAHEENSPIN): and new addition of Tk. 11,400,000 to Capital Work in Progress. Acquisition of those
(Continuation news of ZAHEENSPIN): and new addition of Tk. 11,400,000 to Capital Work in Progress. Acquisition of those assets were recognized through payment in cash and/or through bank also on adjustment with receivables. We found that only Tk 8,975,000 has been paid through bank and Tk. 23,411,317 has shown as unpaid liabilities to M/S Dhaka Enterprise and rest of the amount has shown as adjustment against sales/receivable without deducting AIT and VAT, (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of ZAHEENSPIN): which is a violation of Income Tax Ordinance 1984, section 30 (m) and section 48. Bes
(Continuation news of ZAHEENSPIN): which is a violation of Income Tax Ordinance 1984, section 30 (m) and section 48. Beside this Dhaka Enterprise is not any reputed machinery manufacturer or supplier from whom the company acquires machinery of Tk. 50,900,000, without following as standard purchase procedure. We were also unable to obtain sufficient appropriate audit evidence to satisfy ourselves to provide our opinion, (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of ZAHEENSPIN): and conclude that there is no undetected material misstatements in the financial stat
(Continuation news of ZAHEENSPIN): and conclude that there is no undetected material misstatements in the financial statement in this regard. 2. The financial statement shows Trade & Other Receivable Tk. 369,985,513 on 30 June 2022 and realization of Tk. 372,304,930 during the year whereas bank statement produced to us by the company shows only Tk. 82,056,356 were deposited in the bank during the year under audit. (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of ZAHEENSPIN): We have received no response from the customers/parties to confirm the year end balan
(Continuation news of ZAHEENSPIN): We have received no response from the customers/parties to confirm the year end balance shown in the financial statement despite our written approach to them for confirmation. Whereas the company has made an amount of Tk. 83,440,705 Provision for Bad Debts in addition to Tk. 202,356,355 provision made earlier. We were also unable to obtain sufficient appropriate audit evidence to satisfy ourselves to provide our opinion, (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of ZAHEENSPIN): and conclude that there are no undetected material misstatements in the financial sta
(Continuation news of ZAHEENSPIN): and conclude that there are no undetected material misstatements in the financial statement in this regard. 3. The financial statement exhibits Sales Revenue (Net off VAT) Tk. 337,577,733 as Shown in the note # 24.00 and note # 6.00, which has been recognized by realizing through cash, bank and adjustment with suppliers bills as stated by the management of the company, out of that total Tk. 82,056,356 were only deposited in the bank. (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of ZAHEENSPIN): The balance amount was cash received and adjusted against purchase from M/S Dhaka Ent
(Continuation news of ZAHEENSPIN): The balance amount was cash received and adjusted against purchase from M/S Dhaka Enterprise the lone customer as well as supplier of the company but we were also unable to obtain sufficient appropriate audit evidence to satisfy ourselves to provide our opinion, and conclude that there are no undetected material misstatements in the financial statement in this regard. This is for your kind information and record of all concerned. (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of ZAHEENSPIN): 4. The financial statement shows an amount of Tk. 137,524,422 loss on fire by virtue
(Continuation news of ZAHEENSPIN): 4. The financial statement shows an amount of Tk. 137,524,422 loss on fire by virtue of damage of Property Plant & Equipment and damage of Inventory in the year 2020-21 without considering any claim receivable from insurance company. During our verification we found that the company had a fire insurance policy of only Tk. 100,000,000 instead book value of Building, Machinery Tk. 451,924,490 and (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of ZAHEENSPIN): Inventory Tk. 82,474,124, Total Tk. 534,398,614 we were also unable to obtain suffici
(Continuation news of ZAHEENSPIN): Inventory Tk. 82,474,124, Total Tk. 534,398,614 we were also unable to obtain sufficient appropriate audit evidence to satisfy ourselves to provide our opinion, and conclude that there are no undetected material misstatements in the financial statement in this regard. Emphasis of Matter: 1. We found that the company is submitting the VAT Returns, Mushak 9.1 showing only the Qty of Sales without disclosing the sale value, (cont.9)
The first part of this announcement is missing from the archive. - (Continuation news of ZAHEENSPIN): though the company is paying VAT on the sales as per relate VAT rule without showing
(Continuation news of ZAHEENSPIN): though the company is paying VAT on the sales as per relate VAT rule without showing wastage sales therein. We were also informed that has not yet submitted Income Tax Return from the accounting year 2016-17 to 2020-21. 2. To the best of our understanding the company is suffering from working capital crisis which has laid down the company\'s dependency on single customer and supplier, dependency on local market, (cont.10)
The first part of this announcement is missing from the archive. - Dividend Declaration
The Board of Directors has recommended No dividend for the year ended June 30, 2022. Date of AGM: 26.12.2022, Time: 09:00 AM, Venue: Digital Platform, Link: https://zaheenspinning.bdvirtualagm.com. Record Date: 24.11.2022. The Company has also reported EPS of Tk. (1.28), NAV per share of Tk. 4.97 and NOCFPS of Tk. 0.06 for the year ended June 30, 2022 as against Tk. (2.52), Tk. 6.25 and Tk. 0.43 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 (02.11.2022) following its corporate declaration. However, as per the BSEC Order No. BSEC/CMRRCD/2001-07/39 dated July 28, 2022, the floor price shall be applicable accordingly.
- Qualified Opinion & Emphasis of matter
(Continuation news of ZAHEENSPIN): inability in reestablishing damaged machinery after the fire incidence on 21 January 2021 to regain the production capacity. All those have ultimately created going concern threats to the company though the management of the company has prepared the Financial Statement of the company considering it as a going concern and fully functional as stated in note # 2.01, but we have provided with any management plan to effectuate and ensuring this. (end)
The first part of this announcement is missing from the archive. - 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 November 01, 2022 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2022.
- Resumption of normal production
Refer to their earlier news disseminated by DSE on 15.07.2021 regarding resume partial production, the company has informed that it resumed its normal production from yesterday i.e. July 16, 2022 after completion of repairing, renovation, replacement and installation of new machineries in place of burned machineries.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. (0.11) for January-March 2022 as against Tk. (1.39) for January-March 2021. EPS was Tk. (0.55) for July 2021-March 2022 as against Tk. (1.37) for July 2020-March 2021. NOCFPS was Tk. 0.08 for July 2021-March 2022 as against Tk. 0.80 for July 2020-March 2021. NAV per share was Tk. 5.71 as on March 31, 2022 and Tk. 6.25 as on June 30, 2021.
- Q3 Financials (Revise NOCFPS)
(Q3 Un-audited): The Company has further informed that NOCFPS for the period from July 2020-March 2021 would be Tk. 0.08 instead of Tk. 0.80. The Company earlier mistakenly reported the NOCFPS figure as mention above. Other information of the earlier disclosure will remain unchanged.
- 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, 2022 at 2:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended March 31, 2022.
- (Q2 Un-audited): EPS was Tk. (0.20) for October-December 2021 as against Tk. 0.04 for October-December 2020; EPS was Tk.
(Q2 Un-audited): EPS was Tk. (0.20) for October-December 2021 as against Tk. 0.04 for October-December 2020; EPS was Tk. (0.44) for July-December 2021 as against Tk. 0.02 for July-December 2020. NOCFPS was Tk. 0.08 for July-December 2021 as against Tk. 0.02 for July-December 2020. NAV per share was Tk. 5.82 as on December 31, 2021 and Tk. 6.25 as on June 30, 2021. The Company has also informed that during the reporting period, (Cont. 1)
- (Continuation news of ZAHEENSPIN): sales have been decreased widely due to disruption in production on account of fire o
(Continuation news of ZAHEENSPIN): sales have been decreased widely due to disruption in production on account of fire occurrence, repairing, renovation, reconstruction, replacement and installation of new machineries, increase in percentage of cost of goods sold and Administrative Expenses on sales. All of these factors caused a massive loss after tax and EPS has been decreased significantly during the reporting period compared to the same period of the previous year. (Cont. 2)
The first part of this announcement is missing from the archive. - Q2 Financials
(Continuation news of ZAHEENSPIN): NOCFPS has been increased due to increase in collection against sales and receivables. Massive fall in production due to fire occurrence, repairing, renovation, reconstruction, replacement and installation of new machineries, disrupted sales widely. As a result, net loss has been increased and NAV has been decreased. (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 January 27, 2022 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended December 31, 2021.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.