Power Grid Bangladesh PLC held its 29th Annual General Meeting (AGM) at 10am at the auditorium of its head office in Dhaka on Saturday.
The AGM was conducted on a hybrid platform, combining physical presence and digital participation, according to a press release.
The meeting was attended by members of the Board of Directors, honourable shareholders, representatives from the Power Division and the Bangladesh Power Development Board (BPDB), as well as officers and employees of Power Grid Bangladesh PLC.
A significant number of shareholders also joined the meeting through the online platform. The hybrid AGM was completed smoothly with active participation from all stakeholders.
The AGM was chaired by the company’s Chairman, Dr M Rezwan Khan. A multimedia presentation on the company’s activities for the financial year 2024–25 was delivered by Managing Director Abdur Rashid Khan. The meeting was conducted by Company Secretary Md Jahangir Azad.
The meeting was informed that although the company maintained strong operational performance during the 2024–25 financial year, it incurred a post-tax loss of Tk210.62 crore due to increased costs arising from foreign exchange losses related to the repayment of foreign currency loans taken for development project implementation.
In addition, unappropriated accumulated profit remained negative. As a result, in accordance with the Companies Act, the company was unable to declare any dividend for the year.
During the AGM, honourable shareholders shared their valuable opinions and urged the company to return to profitability and resume regular dividend payments.
The Board of Directors briefed shareholders on various initiatives undertaken to bring the company back to a profitable position and stated that all-out efforts are ongoing to achieve this goal.
It was also noted that the company’s losses have gradually declined compared to the previous financial year. If this trend continues, the company is expected to move towards profitability in phases in the future.
It was further mentioned that 58.50 percent of Power Grid Bangladesh PLC is owned by its sponsor shareholder, Bangladesh Power Development Board, while the Government of Bangladesh holds a 22 percent stake. The remaining 19.5 percent is held by general shareholders.
