Consequently, its loss per share widened to Tk10.74 from Tk4.98 in the corresponding quarter of FY26.
Apex Tannery Limited’s net loss more than doubled year-on-year in the July-September quarter of FY27 as a sharp fall in sales revenue pushed the leather processor into a deeper operating crisis.
The company reported a net loss of Tk16.37 crore in the first quarter, up 116% from Tk7.59 crore in the same period a year earlier, according to its unaudited financial statements published on Thursday (12 November).
Consequently, its loss per share widened to Tk10.74 from Tk4.98 in the corresponding quarter of FY26.
The deterioration came as revenue plunged 84.85% to Tk2.12 crore during the quarter, compared with Tk13.98 crore a year earlier. The company also recorded a gross loss of Tk8.06 crore, against a gross profit of Tk14.18 lakh in the same period last year.
Higher financial expenses, driven by greater reliance on borrowings, added to the pressure on earnings, said the company.
The company’s operating cash flow also weakened significantly. Net operating cash flow per share (NOCFPS) stood at negative Tk8.09 in Q1 FY27, compared with negative Tk2.95 a year earlier, as payments to suppliers and employees exceeded collections from customers amid weak sales.
Meanwhile, net asset value (NAV) per share fell to Tk182.16 as of 30 September 2026, from Tk192.99 at the end of June, reflecting the impact of the quarterly loss.
The latest quarterly performance comes after the company recommended no dividend for the financial year ended 30 June 2026. Apex Tannery has also been placed in the Z category from the existing B category, after failing to declare dividends for two consecutive years, in line with a Bangladesh Securities and Exchange Commission directive issued on 20 May 2024.
For FY26, the company reported a loss per share of Tk20.55, compared with Tk14.62 in FY25. Its annual NAV per share stood at Tk192.99, against Tk30.19 a year earlier, while NOCFPS was negative Tk13.53, compared with positive Tk2.58 in FY25.
The company’s annual general meeting is scheduled for 30 December in a hybrid format, with shareholders able to participate physically at its premises in the BSCIC Tannery Industrial Estate in Hemayetpur, Savar, or through a digital platform
Source: The Business Standard
Read More at: csslbd.net
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