Highlights
Quasem Industries rating profits from the selling and distribution companies used to be Tk21.52cr in FY23
• Quasem Meals Products – Tk5.98cr
• Quasem Lamps – Tk13.82cr
• Sunlite Procuring and selling and Carrier – Tk1.72cr
Quasem Industries, the producer of Sunlite batteries, has made up our minds to end service agreements with three of its sister corporations – Quasem Meals Products, Quasem Lamps, and Sunlite Procuring and selling and Companies and products.
The decision, efficient from 1 October, used to be disclosed in a stock trade filing this day.
Quasem Industries traditional to present marketing and distribution companies for the products of the sister considerations.
With the termination of the agreements, the corporate’s service profits will lower, and fees connected to selling and distribution for the sister considerations can even decline, in accordance with the disclosure.
Following the announcement, Quasem Industries’ fragment stamp fell by 5.85%, shedding Tk2.4 to shut at Tk38.60 on the Dhaka Stock Alternate (DSE).
In step with its 2022-23 annual chronicle, Quasem Industries earned Tk21.52 crore in rating service profits from the three sister considerations. Of this, Tk13.82 crore came from Quasem Lamps, which manufactures Sunlite gas lighters.
Initiated in 2006, Sunlite gas lighters is the first and easiest producer of gas lighters in Bangladesh, in accordance with its web put.
Quasem Meals Products, but every other sister peril, produces Solar Chips, Solar Top fee Ghee, and Solar Drinking Water. Solar Chips, launched in 2010, is a regular set apart, and the corporate added ghee and bottled ingesting water to its product portfolio in 2019.
Darul Awam Tuhin, the corporate secretary of Quasem Industries, urged the Alternate Identical old that the corporate previously traditional its channels to distribute the products of the sister considerations.
Nonetheless, after the termination of the agreements, every company will arrange its contain distribution, he added.
He additional acknowledged, “Quasem Industries will continue producing and distributing its contain products, alongside side Sunlite-branded batteries, torch lights, synthetic quartz, air fresheners, and Wave branded shaving foams.”
In step with its financial statements, in the first nine months of 2023-24 fiscal, its revenue grew to Tk112.57 crore, an develop from Tk88.07 crore in the an identical time of the outdated fiscal yr.
The corporate posted a profit of Tk4.21 crore for the period of July to March of FY24, however, they’d incurred a loss of Tk53.34 lakh for the period of the an identical period in the outdated fiscal yr.
In 2022-23, it reported Tk116.70 crore in revenue and a profit of Tk2.17 crore, paying a 1.5% money dividend to shareholders.
