On a bad day for the stock market, Anwar Galvanizing shares came up with a surprise shine on Monday as its shares surged by 23.19% despite its rollercoaster earnings performance.
The company apparently lost three times its nine-month losses in the April–June period as its net loss per share stood at Tk 12.32 in the 2024–25 fiscal year, which was only Tk 3.1 in the three quarters.
However, an over Tk 12.3 crore non-operating income helped the company come back into profitable territory in the July–September period.
Both the results were posted on the Dhaka Stock Exchange (DSE) website on the same day and the market showed a curious case of optimism by pushing Anwar Galvanizing shares to Tk 78.1 during the close, which was 23.19% higher than the previous day’s closing price of Tk 63.4.
No stock can move by more than 10% in a day due to the stock exchange’s circuit breaker rules. However, on the days of the annual corporate declaration, stocks can move beyond their regular price limits.
Due to the annual loss surpassing its paid-up capital, Anwar Galvanizing announced no dividend for the fiscal year ended on 30 June.
Still, investors chased its shares on the bourse as it posted an earnings per share (EPS) of Tk 2.86 for the first quarter of this fiscal year, while it had incurred a loss of Tk 0.88 per share in the same quarter last year.
The gigantic annual loss dragged down the company’s net asset value per share to Tk 1.38 on 30 June, while the quarterly profit helped it slightly recover to Tk 4.24.
