In the financial year 2021-22, GPH contributed Tk 442.23 crore to the government exchequer at various stages of its production and sales and that is almost 10 percent of the company’s total sales and 13 percent more than last year, said the company insiders at its 16th AGM.
The AGM of GPH Ispat Ltd has approved a total dividend of 11 per cent including 5.50 percent cash dividend and 5.50 percent stock dividend declared for the shareholders of the company for the financial year 2021-22.
The financial report for the year ended 30 June 2022 was released at the company's 16th Annual General Meeting through digital platform on Wednesday afternoon.
Chairman of the company Mohammad Alamgir Kabir presided over the meeting.
Group Chairman and Managing Director Mohammad Jahangir Alam, Additional Managing Director Mohammad Almas Shimul, Directors Md Ashrafuzzaman, Md Abdul Ahad, Md Azizul Haque, Independent Director Mukhtar Ahmed, Executive Director (Group) and Company Secretary Abu Bakar Siddique were present. FCMA.
Executive Director (F&BD) Kamrul Islam FCA moderated the program and answered questions from shareholders. Chief Financial Officer HM Ashrafuzzaman FCA and senior officers of the company were present in the meeting.
Share holders participated in the meeting. Md. Alamgir Kabir said that currently the construction industry of Bangladesh is expanding and its expansion is expected in the future.
GPH is the only company to establish the first quantum technology factory in Bangladesh in the interest of this anticipated demand, sustainability and safety of construction projects.
Already we have proved our capability by participating in many mega projects of our country like Third Terminal, Karnaphuli Tunnel etc.
He continues GPH's contribution to the current construction industry and as part of future strategic planning to ensure a solid foundation for the country and future generations to address all challenges such as new business expansion, relationships and collaboration with government and regulatory bodies to ensure GPH's sustainability and hoped to successfully address the challenges of strengthening GPH's market position in the steel industry and assured everyone that GPH is on the right track in its business.
Group Chairman and Managing Director Mohammad Jahangir Alam said the global supply chain of the steel market and international trade has been severely disrupted due to the Russia-Ukraine war, Covid-19 and the global economic slowdown, which has led to an increase in raw material prices, shipping and freight costs.
In these challenging times, GPH management adopted strategic decisions, new innovations, cost control, power saving, etc. to achieve its target revenue growth. Which is 65.67 percent more than last year.
