Bangladesh Lamps to set up new production line

Bangladesh Lamps Ltd is going to set up a new production line to manufacture accessories at its existing factory in Narsingdi's Shibpur.

The board of directors has decided to set up the production line, said the company in a filing on the Dhaka Stock Exchange (DSE).

The expected cost for the project will be Tk 3.20 crore and the funds would be mobilised through bank borrowings.

Thanks to the new production line, it is expected that the net sales will be Tk 21.94 crore and the expected net profit before tax will be Tk 0.44 crore per year.

An enterprise of Transcom Group, Bangladesh Lamps Ltd also reported earnings per share (EPS) of Tk 1.74 for October-December of the fiscal year of 2022-23 against Tk 3.15 in the same quarter of 2021-22, according to the unaudited financial statements.

The EPS was Tk 3.51 in the July-December half of FY23 compared to Tk 4.42 in the identical period of FY22.

The EPS decreased owing to an increase in the finance cost and the prices of materials, said the company in another post on the premier bourse of Bangladesh.

The net operating cash flow per share (NOCFPS) was Tk 1.58 in negative for July-December of FY23 against Tk 11.32 in the similar half of FY22.

The NOCFPS decreased because of an increase in the payments to suppliers on account of imported raw materials, said the filing.

The net asset value per share was Tk 89.65 on December 31 last year and Tk 97.29 on the same day in 2021.

Bangladesh Lamps Ltd was incorporated in 1960 as a subsidiary of Philips, Holland. In 1993, Philips sold its entire shares to Transcom Ltd, one of the largest enterprises in the country.

The company manufactures electric bulbs, compact fluorescent lamps, tube lights and other lighting products under Transtec brand and markets them through its countrywide distribution network.

Shares of Bangladesh Lamps were unchanged at Tk 252.20 on the DSE yesterday.