Its shares price since 8 October until 14 October surged by 25.56% to Tk889.10 each.
The asset value of state-owned Renwick Jajneswar & Company (BD) Ltd has surged by around 4,100% to Tk1,258 crore following a revaluation by independent chartered accounting firm Shafiq Basak & Co.
According to a disclosure posted on the Dhaka Stock Exchange (DSE) today (15 October), the carrying value of the company’s assets increased from Tk29.96 crore to Tk1,258 crore, adding Tk1,228 crore to their value.
The company said the revaluation surplus would be reflected in its financial statements, subject to the auditor’s review and applicable regulatory requirements.
However, the increase in the value of land, buildings and other assets will not generate any immediate cash inflow. As a result, the revaluation surplus may not directly affect the company’s share price.
Following the declaration of asset revaluation information, Renwick Jajneswar’s shares price declined by 5.22% to Tk842.70 each at the Dhaka Stock Exchange (DSE).
Before that, its shares price since 8 October until 14 October surged by 25.56% to Tk889.10 each.
At the mid of July, its shares trading was halted due to abnormal price hike and increase in volume of shares.
The 2025-26 fiscal year ended, the company yet to publish the annual financials.
Its latest first nine months financial showed that it had incurred a loss per share of Tk7.14 till March 2026.
The loss per share at the same time of the previous fiscal year was Tk15.61, meaning its loss significantly declined.
Regarding the improvement in profitability, it said EPS increased significantly compared to last year in the same period driven by mainly decreasing cost of goods sold and operating expense.
Source: The Business Standard
Read More at: csslbd.net
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